CallataGuidesBusiness phone system for investment advice firms in Rhode Island
71 investment advice firms operated in Rhode Island in 2023. Where they are, how big their teams are, and what phone service costs them.
- Establishments
- 71CBP 2023
- Employees
- 284mid-March 2023
- Per 100k residents
- 6.4U.S. 6.9
- State rank
- 44th of 51by count
The financial advisory firm industry in Rhode Island
Rhode Island had 71 investment advice firms in 2023, according to Census County Business Patterns (NAICS 523930, Investment Advice). They employed 284 people in mid-March and reported $27.6 million in annual payroll. That is the 44th highest count among the 51 states and DC with published figures. Investment advice firms make up 0.24% of the 29,510 business establishments in the state.
Per 100,000 residents (2024 estimate) Rhode Island has 6.4 investment advice firms, 7.1% below the national rate of 6.9. The average establishment has 4.0 employees against 4.7 nationally. Payroll per employee is $97,271, 42.0% below the U.S. figure of $167,820.
| Measure | Rhode Island | United States |
|---|---|---|
| Establishments | 71 | 23,359 |
| Mid-March employees | 284 | 110,125 |
| Annual payroll | $27,625,000 | $18,481,170,000 |
| Employees per establishment | 4.0 | 4.7 |
| Payroll per employee | $97,271 | $167,820 |
| Establishments per 100,000 residents | 6.4 | 6.9 |
Census County Business Patterns 2023 (mid-March employment; annual payroll). Employees and payroll flagged high-noise are shown but not used in the text. Residents: Census Vintage 2024 estimates.
Where investment advice firms in Rhode Island are concentrated
Census published financial advisory firm counts for 1 metro or micropolitan area that include part of Rhode Island. The largest is Providence, RI-MA, with 92 establishments (a multi-state area; its count covers every state it spans).
| Area | Establishments | Employees | Per 100k residents |
|---|---|---|---|
| Providence, RI-MA | 92 | 334 | 5.4 |
Source: Census County Business Patterns 2023; population from Census Vintage 2024 estimates.
Team sizes at investment advice firms in Rhode Island
79.7% of Rhode Island's investment advice firms with employees had fewer than five people in March 2023, compared with 84.5% nationally. 95.7% had fewer than ten. That is the size of team where a missed call usually means nobody was free, not that nobody was on staff.
| Employment size | Establishments | Share | U.S. share |
|---|---|---|---|
| 1–4 employees | 55 | 79.7% | 84.5% |
| 5–9 employees | 11 | 15.9% | 9.4% |
| 10–19 employees | not published | — | 3.4% |
| 20–49 employees | 3 | 4.3% | 1.7% |
| 50 or more employees | 0 | 0.0% | 1.1% |
Employment-size classes count establishments by mid-March 2023 employment. Establishments with no March employees are excluded from the size classes, so shares are of establishments with employees. Source: Census County Business Patterns 2023.
Why the phone matters for investment advice firms in Rhode Island
Advisory firms build long relationships, so the phone experience reflects on the practice. Clients call about market moves, transfers and planning meetings, and those conversations often need to be documented. That holds for investment advice firms in Rhode Island as much as anywhere.
A few of the calls that come in to investment advice firms in Rhode Island:
- A custodian calls about a transfer.
- The firm calls a client to confirm a distribution request.
- A prospect calls after a referral from a friend.
When nobody can pick up
After-hours calls are usually meeting or document requests that can be returned the next business day.
Callata voicemail is transcribed and triaged for urgency, and business-hours routing decides where calls go once you close.
Phone system pricing for a 4-person financial advisory firm
Investment advice firms in Rhode Island average 4.0 employees, so the comparison uses a 4-person team. On a per-user plan that headcount sets the bill: $99.80 a month on Ooma Office Pro or $120.00 on RingCentral RingEX Core at list price (checked September 28, 2026). On Callata the same 4 people cost $99.00 a month, less than either per-seat plan.
The annual difference against RingCentral's monthly list price comes to $252. Some vendors discount annual contracts; the table shows month-to-month prices.
| Provider (plan) | Pricing basis | Per month | Per year |
|---|---|---|---|
| Callata (Callata Office) | $99 incl. 5 users, $20 per extra user | $99.00 | $1,188.00 |
| Quo (Starter) | $19.00 per user | $76.00 | $912.00 |
| Nextiva (Core) | $23.00 per user | $92.00 | $1,104.00 |
| Ooma (Office Pro) | $24.95 per user | $99.80 | $1,197.60 |
| Dialpad (Standard) | $27.00 per user | $108.00 | $1,296.00 |
| RingCentral (RingEX Core) | $30.00 per user | $120.00 | $1,440.00 |
Competitor prices are each vendor's published month-to-month list price per user for its lowest plan that includes business calling and texting, checked September 28, 2026: Quo Starter $19, Nextiva Core $23, Ooma Office Pro $24.95 (Essentials excludes texting; one-time $29.95 activation not included), Dialpad Standard $27, RingCentral RingEX Core $30 ($20 billed annually). Prices exclude taxes and fees and may change; annual contracts lower some competitors' prices.
Area codes in Rhode Island
Rhode Island has 1 geographic area code in service according to NANPA. You can choose local numbers in the area codes your clients know, subject to carrier inventory, or port your current number for free.
| Area code | Exchanges | Time zone | In service since | Overlay with |
|---|---|---|---|---|
| 401 | 581 | Eastern | 1947 | none |
Exchanges are NANPA-assigned central office codes (NPA-NXX) in the rate centers matched to the area's named places. Source: NANPA utilized code and NPA reports.
How Callata works for investment advice firms in Rhode Island
For $99 a month, Callata puts a team of up to 5 on one plan ($20 for each person after that): up to 3 local numbers, unlimited inbound calls, a pooled allowance of 1,500 outbound US and Canada minutes per user, browser and cell calling, voicemail transcription with urgency triage, recorded calls with AI summaries and business-hours routing, with E911 on every number.
If you already have a number in Rhode Island, porting it to Callata is free. Texting from a local number requires a one-time carrier registration (10DLC, $49), and the numbers available in any area code depend on carrier inventory when you choose them.
Optional AI agents (receptionist, sales, support or scheduler) can answer calls after hours or when nobody picks up, take messages, text, email and transfer to your team. They are billed from prepaid AI minutes at $0.25 per minute, identify themselves as AI, and may only place outbound calls to people who consented, between 8am and 9pm.
Registered firms should check their books-and-records obligations before texting clients about accounts.
Frequently asked questions
How many investment advice firms are in Rhode Island?
71 in 2023, according to Census County Business Patterns. They employed 284 people in mid-March.
Which Rhode Island metro area has the most investment advice firms?
Providence, RI-MA, with 92 establishments in 2023.
What does a phone system cost a 4-person financial advisory firm?
$120.00 a month on RingCentral RingEX Core or $99.80 on Ooma Office Pro at month-to-month list prices (checked September 28, 2026); $99.00 on Callata ($99 a month with 5 users included, then $20 per additional user).
Do I need to register to text customers from a Rhode Island number?
Yes. US carriers require business texting from local numbers to be registered (10DLC). On Callata the registration is a one-time $49 fee, and texting turns on once it is approved.