John and Ruth Mullen.
Courtesy: John Mullen
John Mullen, president and CEO of Parsons Capital Management — which ranked No. 1 on CNBC’s list of the top 100 financial advisors in the U.S. for 2025 — is well-versed in the struggle for equal treatment.
Mullen said his first exposure to financial advising was through his mother, Ruth, who forged a career in the field, long dominated by men. Even today, women make up less than 25% of all certified financial planners, according to a report by the CFP Board.
The two teamed up early on, and they still work together, now at Parsons Capital Management’s office in Providence, Rhode Island, where both hold the title of managing director.
Helping clients ‘divorce emotions from investment decisions’
Parsons Capital Management is committed to treating its clients equally, as well, regardless of their financial standing, according to John Mullen.
“Whether you have $1 million or $20 million with us, we strive to provide the same experience, and that approach has really resonated with people,” he said.
The goal is “to be a family office for those that don’t have enough assets to have a family office,” Mullen said — and “clients appreciate that white glove approach.”
In a year marked by inflation, tariffs and the Federal Reserve’s shifting monetary policy, that personalized care and close attention also helps clients “divorce emotions from investment decisions,” he said.
“In heavy news environments, like we’ve been in over the past year, we find that more client outreach takes on a heightened importance,” Mullen said. “Helping our clients to parse through the steady flow of news they may be consuming not only keeps them informed but can help to take the temperature down.”
The firm, founded in 1993 by brothers Bob and Ged Parsons, maintains a collaborative attitude to sharing stock ideas, although each of the nearly one dozen managers “is encouraged and empowered to make decisions for their clients,” John Mullen said.
“It’s not based on some model or investment committee, and I think that has served us well over time.”
This year, amid heightened volatility and periods of political and financial uncertainty, “corporate fundamentals stayed strong while underlying economic indicators held,” Mullen said, “which gave us confidence that the downside could be contained.”
Ditching the ‘old boys club’
“Another shared value for us is if you truly put the client’s interest first, everything else follows — that builds loyalty,” Ruth Mullen said.
The result of that practice is that clients receive individual attention and advice, something that is highly valued in today’s crowded field of investment professionals and robo-advisors.

The advice is also relayed in an inclusive way, regardless of gender or other differentiators, which is another aspect of the firm that clients appreciate, Ruth Mullen said. Female clients often thank her for talking to them directly, she said.
That her son helms the practice in keeping with that core approach is a “proud mom moment,” she said.
“Women need to have a relationship with the person who is managing their money,” she said. “In many ways, [the financial advisory industry] is still an ‘old boys club.’ Any kind of exclusive situation like that runs the risk of imploding.”
Parsons Capital Management has more than $2 billion under management and 1,864 accounts.
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