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Finding a Top Financial Advisor Firm
Looking forhelp managing your money and investments? It may be time to start working with a financial advisor. SmartAsset put together this list of the top financial advisors in America to help you understand your options. Below, you'll find a description of each of the top 10 financial advisor firms in the country,including informationabout each firm's services, fees, advisory certifications,office locations, minimum investment amount and more. Alternatively, SmartAsset's financial advisor matching tool can do the work for you by connecting you with up to three financial advisors who serve your area.
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| Rank | Financial Advisor | Assets Managed | Minimum Assets | Financial Services | More Information |
|---|---|---|---|---|---|
| 1 | CAPTRUST Find an Advisor Read Review | $714,587,898,072 | No set account minimum |
| Minimum AssetsNo set account minimumFinancial Services
|
| 2 | Fisher Investments Find an Advisor Read Review | $173,418,270,044 | Varies based on account type |
| Minimum AssetsVaries based on account typeFinancial Services
|
| 3 | GW&K Investment Management, LLC Find an Advisor Read Review | $46,803,858,104 | Varies by asset class and strategy |
| Minimum AssetsVaries by asset class and strategyFinancial Services
|
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| 4 | CI Private Wealth Find an Advisor Read Review | $94,617,046,882 | Varies based on account type |
| Minimum AssetsVaries based on account typeFinancial Services
|
| 5 | Summit Rock Advisors, LP Find an Advisor Read Review | $19,851,537,239 | $100,000,000 |
| Minimum Assets$100,000,000Financial Services
|
| 6 | Mercer Global Advisors, Inc. Find an Advisor Read Review | $35,141,673,366 | Varies based on account type |
| Minimum AssetsVaries based on account typeFinancial Services
|
| 7 | Fort Washington Investment Advisors, Inc. Find an Advisor Read Review | $71,037,804,050 | Varies based on account type |
| Minimum AssetsVaries based on account typeFinancial Services
|
| 8 | Cerity Partners, LLC Find an Advisor Read Review | $53,330,936,591 | No set account minimum |
| Minimum AssetsNo set account minimumFinancial Services
|
| 9 | NFP Retirement, Inc. Find an Advisor Read Review | $75,046,288,911 | $25,000 |
| Minimum Assets$25,000Financial Services
|
| 10 | Moneta Group Investment Advisors, LLC Find an Advisor Read Review | $30,651,380,206 | No set account minimum |
| Minimum AssetsNo set account minimumFinancial Services
|
What We Use in Our Methodology
To find the top financial advisors in the U.S., we first identified all firms registered with the SEC in the country. Next, we filtered out firms that don't offer financial planning services, those that don't serve primarily individual clients and those that have disclosures on their record. The qualifying firms were then ranked according to the following criteria:
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AUM
Firms with more total assets under management are ranked higher.
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Individual Client Count
Firms who serve more individual clients (as opposed to institutional clients) are ranked higher.
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Clients Per Advisor
Firms with a lower ratio of clients per financial advisor are ranked higher.
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Age of Firm
Firms that have been in business longer are ranked higher.
All information is obtained through public records and is updated annually after the firms’ form ADV filing. This list may include firms that have a business relationship with SmartAsset, in which SmartAsset is compensated for lead referrals. Such relationships have no impact on our rankings, and firms are included and ranked based strictly on the above criteria. SmartAsset is not a client of the aforementioned firms, and did not receive compensation for including any of the firms on the aforementioned list.
CAPTRUST
CAPTRUSThasthe highest AUM on our list. This fee-based firmis headquartered inRaleigh, North Carolinaand serves both non-high-net-worth andhigh-net-worth, as well as banks, investment companies,retirement plans, charitable organizations, government entities, insurance companies and corporations.
In general, the firm does not require a minimum account sixe. However, it may impose a minimum annual consulting fee. But the firm can also waive these fees based on discretion.
Services available through the firm's individual-centric programs include wealth planning, investment management, retirement planning and advice, risk management, tax review, estate planning, charitable gift planning, cash flow planning and other services.
Certain on-staff advisors at CAPTRUST can earn commissions from insurance sales. Despite the potential conflict of interest this creates, the firm is bound by fiduciary duty to act in your best interest.
CAPTRUST Background
CAPTRUST was established in 2003. Today, the firm's leadership team is under the control of co-founder and CEO James Fielding Miller. The firm's shares are owned by a holding company called The CapFinancial Group, LLC.
The advisory team at CAPTRUSTholds multiple certifications, including certified public accountants (CPAs), accredited investment fiduciaries (AIFs), chartered financial analysts (CFAs), certified fund specialists (CFSs), certified investment management analysts (CIMAs), certified financial planners (CFPs) and chartered financial consultants (ChFCs), among other designations.
CAPTRUST has a number of branches nationwide.
CAPTRUST Investing Strategy
CAPTRUST utilizes an investment philosophy that features the customization of a portfolio for each individual client. While clients are allowed to set some restrictions to how their money is managed, portfolios will generally be based on their personal risk tolerance, financial goals, time horizon, income needs, tax situation, net worth and any other applicable factors. As this portfolio ages and returns affect its allocations, though, the firm may decide to either reallocate assets or redesign the portfolio entirely.
The firm may utilize long- or short-term purchases within your portfolio, depending on your needs and goals. CAPTRUST tends to invest in stocks, mutual funds, fixed-income securities and options. Additionally, the firm offers a wrap fee program, which bundles all transactional and advisory fees into a single rate.
Fisher Investments
Fisher Investments is afee-only financial advisor firm based in Texas that has over 130,000 non-high-net-worth and high-net-worth clients. The firm also works with investment companies, pooled investment vehicles, retirement plans, charities, government entities, other investment advisors, insurance companies, foreign wealth funds, corporations and proprietary accounts.
If you're an individual interested in working with Fisher, you'll generally need at least $500,000 in investable assets, though this minimum is waivable. Clients who use the firm's WealthBuilder program are only required to have $200,000 in investable assets.
Fisher offers a vast range of services to its individual clients, including working with clients tocreate and manage investment portfolios. The firm also has an extensive set of retirement planning services, as well as other financial planning services like goal planning, income tax planning and more. Fisher also has an annuity conversion service, which is a fairly unique offering among advisor firms.
Fisher Investments Background
Fisher Investments was founded in 1979 by Ken Fisher. Fisher still principally owns the firm. He also had a hand in creating the theory behind the "Price-to-Sales Ratio," and he was a Forbes investment columnist from 1984 until 2016. Fisher has also been ranked on Forbes' list of the Richest Americans, as well as its list of Global Billionaires.
The firm operates many branches in other U.S. states outside of its headquarters in Plano, Texas, as well as in other countries globally.
Fisher Investments Investing Strategy
According to its SEC-filed Form ADV, Fisher Investments principal goalis "maximizing returns relative to risk compared to particular benchmarks."
Depending on your long- or short-term goals, risk tolerance and time horizon,the firm will recommend a distinct set of investments. For example, riskier investors will have portfolios centered around common stock and cash equivalents. Risk-averse investors will have their assets invested more in fixed-income secuties, such as bonds and cash. For those in between those two extremes, Fisher recommends a blended portfolio that features some proportionate allocation of stocks, fixed-income and cash.
GW&K Investment Management
In business for just about a half-century, GW&K Investment Management is a fee-only firm headquartered in Boston. The firm offers investment advisory services to high-net-worth individuals, banks, investment companies, pooled investment vehicles, retirement plans, government entities and corporations.
GW&K specializes in activeequityand fixed-income investment solutions, and it incorporates equity, municipal bond and taxable bond strategies in its investment process.The firmadditionally receivesperformance-based feesfor its investment management. The fees are based on a percentage of the net profits being managed.The firm’s standard fee schedules are negotiable, and its fees are usually billed quarterly in advance or in arrears.
GW&K Investment Management Background
GW&K was founded in 1974 and it is a partner of Affiliated Managers Group, Inc., a publicly-traded global asset management company.
In addition to its municipal bond strategies, the firm employs small cap and small/mid cap and core fixed income investment approaches. GW&K manageswrap accounts, and it also participates in certain sub-advisory agreements.
GW&K offersa variety of services, includingportfolio management, investment strategies, equity, taxablebondsand municipal bonds.
GW&K Investment Management Investing Strategy
GW&K says that it believes in rigorous research, disciplined management and a client-driven culture. It seeks to find unexpected investment opportunities and provides personalized management services.
The firm describes its management approach as one that places clients’ interests first and strives to meet investment objectives in the midst of market fluctuations.
CI Private Wealth
Headquartered in Miami, Florida, CI Private Wealth (CIPW) is a fee-only firm that earns money through management fees paid by clients.
CIPWserves both non-high-net-worth and high-net-worth individuals.Institutional clients includepooled investment vehicles, retirement plans, charities, state or municipal governments, other investment advisors, insurance companies and businesses, among others.
The firm says that itgenerally aims to establish relationships with clients who have at least $1 million in investable assets, though this isn't a hard-and-fast requirement. Some investment strategies at the firm may require asset amounts up to $100 million.
CI Private Wealth Background
CIPWis wholly-owned by CIPW Holdings, LLC, which is a majority-owned subsidiary of CI US Holdings, Inc.
According to the firm's brochure, CIPW provides wealth management solutions for individuals, families, pension plans, trusts, endowments, other institutional clients and private funds. The firm also says that it operates through several business units that have the flexibility to provide services on a discretionary or non-discretionary basis, depending on client preferences.
CI Private Wealth Investment Strategy
CIPW offers a broad range of investment strategies across different asset classes.The firm's brochure says that investmentstrategies are executed through separately managed accounts, private funds and registered funds, among other means.
From time to time, CIPW may also recommend separately managed account programs, private fund advisors or registered funds sponsored or managed by affiliates.
Summit Rock Advisors
New York City-based Summit Rock Advisors is thequintessential exclusive family office, as the firm works with lessthan 50 high-net-worth individual clients. This becomes even more clear when you look at its Form ADV brochure, which states that the average client size is approximately $415 million. In short, only those with at least $100 million in investable assets have a chance at becoming a client of Summit Rock Advisors.
This is a fee-only firm, which means that none of the advisors at Summit Rock, nor the firm itself, earn compensation from any source other than client-paid fees. A fee-based firm, on the other hand, may have advisors who sell insurance products or securities on a commission basis.
Summit Rock Advisors also holds the top spots on SmartAsset's lists of the top financial advisors in New York City and the top financial advisors inNew York State.
Summit Rock Advisors Background
Summit Rock Advisors' headquarters is in Manhattan. The firm is independently owned by its co-founders: CEO David Dechman and chief investment strategist Nancy Donohue. The firm has been in business since 2007.
Clients of Summit Rock will receive intensely close attention on their investment portfolios and long-termfinancial plans. The firm works with clients in a holistic manner, attempting to account for all of theirfinancial specifics and goals when making decisions.
Summit Rock Advisors Investing Strategy
Summit Rock Advisors works to understand clients' personal needs and objectives prior to investing any of their money. In turn, a Summit Rock advisor will personally work with you to determine exactly what you're looking for in the short and long term. The firm often looks to incorporate multiple investment managers within clients' portfolios According to its Form ADV, it chooses managers that it "believes are the most talented across a wide universe of choices, encompassing various sectors of the market, geographies, and liquidity spectrums."
As you can tell from the above, diversification is incredibly important to Summit Rock's overarching investment philosophy. Strategic asset allocation planning is also a focus point, as the firm will use your risk tolerance and time horizon to select investment allocations in a manner that aligns with those factors.
Mercer Global Advisors
Mercer Global Advisors is a fee-based firm headquartered in Denver, but serves clients nationwide. It works with both non-high-net-worth and high-net-worth individuals, as well as retirement plans, charities and corporations. The firm's minimum annual fee requirements can range from $800 to $75,000, depending on the type of service and account.
Some of Mercer's on-staff advisors have the opportunity to sellinsurance products on a commission basis. Although this represents a potential conflict of interest, the firm's fiduciary duty means it must act in clients' best interests.
You can also find Mercer Global Advisors on two other SmartAsset lists: the top financial advisors in Denver and the top financial advisors in Colorado.
Mercer Global Advisors Background
Mercer Global Advisors has been inbusiness fornearly 40years, as it was founded in 1985. The firm's team of advisorsholds multiple certifications, including certified financial planners (CFPs), chartered financial analysts (CFAs) andcertified public accoutants (CPAs),among other designations.
Financial planning, investment management and family office services are all available at Mercer. Investment portfolios are managed on a custom basis, and financial planning can cover a wide range of topics.
Mercer Global Advisors Investing Strategy
Mercer Global Advisors focuses on investing for the long term. In concert with this approach, the firm believes ample planning is necessary to achieve success over time. Advisors therefore stress this planning specifically around clients' personal financial situations and goals.
Unsurpisingly,Mercer works to diversify clients' assetsthroughout various securities and market sectors. This is done to protectportfolios from heavily earning returns from very specific areas of the market, which can create higher-than-intended volatility. As your portfolio ages, the firm may decide to rebalance your investments back to their intendedallocations.
Fort Washington Investment Advisors
Fort Washington Investment Advisorsis a Cincinnati-based advisory firm that offers awide range of services, including individual and family wealth management, investment services for institutions and private equity fund management.
Services for individuals include goal-based financial planning, investment management, insurance planning, trust and estate planning, tax planning, charitable gift planning, risk management, charitable gift planning, executive compensation planning and more.
When it comes to individual clients, Fort Washington only serves those with a high net worth. The rest of the firm's client base is entirely institutional,includinginvestment companies,pooled investment vehicles, retirement plans, charitable organizations, government entities, insurance companies and corporations. The minimum account size for clientshere vary depending on the service being provided.
As a fee-based firm, certain on-staff advisors at Fort Washington can receive commissions from the sale of insurance products, which causes a potential conflict of interest. The firm is still required to abide by fiduciary duty, though, meaning it will act in your best interest.
Fort Washington Investment Advisors Background
Founded in 1990, Fort Washington Investment Advisors has grown considerably over the last three decades. The firm is the investment branch ofWestern & Southern Financial Group, Inc., a large financial services company. As a result, the firm is a wholly owned subsidiary of a handful of Western & Southern's child companies.
There is no shortage of advisory certifications among the advisory staff at Fort Washington Investment Advisors. More specifically, the staff holds multiple certifications, including chartered financial analyst (CFA), certified financial planner (CFP), chartered alternative investment analyst (CAIA) and certified investment management analyst (CIMA), among other designations.
Fort Washington Investment Advisors Investing Strategy
Fort Washington Investment Advisors believes in aligning all of your financial needs into a single strategy. This will principally involve the creation and maintenance of an investment portfolio, as well as a detailed financial plan. Before any asset management decisions are made on your behalf, the firm will do a deep dive into your ultimate financial goals, risk tolerance, time horizon, liquidity needs, anticipated returns and investment preferences. Based on the insights gleaned from this information, a holistic investment and financial plan will be built for you.
The firm doesn't have a specific set of securities that it prefers to invest in. Instead, it will devise an asset allocation that considers whatever investments fit your needs. That could mean your money will be invested in stocks, bonds, mutual funds, exchange-traded funds (ETFs), cash allocations or any other investments the firm deems appropriate.
Cerity Partners
Cerity Partners is afee-only firm that is based in New York. It works withboth non-high-net-worth andhigh-net-worthindividuals. Institutional clients include pooled investment vehicles, pension and profit sharing plans, charitable organizations, state or municipal governments, insurance companies and corporations.
Asa fee-only firm,the advisory team at Cerity Partnersdoes not receive third-party commissions from selling securities or insurance.By contrast, advisors at a fee-based firm can earn commissionsthat could leadto potential conflicts of interest.
Cerity PartnersBackground
Cerity Partners has been in business since 2009. According to its brochure, the firm is controlled by Cerity Partners Equity Holding LLC.This LLC, in turn,is controlled by Cerity Partners EOE LLC, which is owned by certain employees of Cerity Partners. Kurt Miscinski is the firm’s president and CEO.
Cerity Partners providesa variety ofservices, including:
- Financial planning
- Wealth planning
- Retirement planning
- Portfolio management
- Tax planning
- Estate planning
Cerity PartnersInvestment Strategy
Cerity Partners usesasset allocationto reduce riskfor each client’s investment portfolio.Asset classes include cash and cash equivalents, globalfixed-income, global equity, real return, hedge funds andprivate equity.
According to the firm's Form ADV, it takes into account a number of investor characteristics when building portfolios. In fact, it states the following: "Cerity Partners customizes all services to the individual needs of its clients by determining each client’s specific goals, objectives, risk tolerance, time horizon, investment restrictions and other factors that affect the appropriate financial advice."
NFP Retirement
NFP Retirement's advisory services are heavily focused around helping clients with retirement planning and the management of their retirement assets. In terms of assets under management, the firm's client base is dominated by retirement plan sponsors, though ittechnically works with a majority of individuals with and without a high net worth. The firm's investment minimum is $25,000.
Certain on-staff advisors at NFP can sell insurance products and securities on a commission basis. Although this presents a potential conflict of interest, the firm's fiduciary duty means it acts in clients' best interests.
This isn't the only SmartAsset top financial advisor list NFP Retirement holds a spot on. In fact, it is alsofeatured on our Aliso Viejo and California lists.
NFP Retirement Background
Founded in 1980, NFP Retirement is under the ownership of its parent entity, NFP Corp. The firm's leadership team is headed by chairman and CEO Doug Hammond and president and chief operating officer (COO) Mike Goldman.
NFP Retirement also has offices in New York City; Austin, Texas; Palm Beach Gardens, Florida; Toronto, Canada; Birmingham, United Kingdom; Dublin, Ireland; and San Juan; Puerto Rico.
NFP Retirement Investing Strategy
NFP Retirement's individual investing and financial planning services are based on the needs each individual client has. For instance,your advisor will discuss with you your risk tolerance,income needs and financial goals before making any decisions on your behalf.
Generally speaking, NFP's advisors tend to invest in some combination of mutual funds and ETFs. However, the firm also sometimes utilizes aSchwab-created automated asset allocation service. This uses model portfolios that arechosen based on the client's goals.
Moneta Group Investment Advisors
Moneta Group Investment Advisorshas a client base mostlycomprised of individuals above and below the high-net-worth threshold. Although the firm works with more high-net-worth individuals than not, it does not have a specific account minimum for new clients. Italso has a number of institutional relationships as well, including retirement plans, businesses and charitable organizations.
Moneta is a fee-only firm, which means that it earns money solely through management fees that are paid by clients. By contrast, a fee-based firm has some employees that can also sell insurance policies and other financial products for commissions.
There is no shortage of individual, institutional and retirement plan advisory services available at Moneta. As a matter of fact, individual clients will have access to services like investment management, estate planning, risk management, retirement planning, business succession consulting, tax planning and more.
SmartAsset has alsofeaturedMoneta Group Investment Advisors in its lists of thetop financial advisors in St. Louis and Missouri.
Moneta Group Investment AdvisorsBackground
Moneta Group Investment Advisors can trace its history all the way back to 1869. The firm is owned by Moneta Group, LLC, which is in turn owned by Moneta's partners.
According to the firm's website, its team of advisors hold multiple certifications, includeing certified public accountants (CPAs), certified financial planners (CFPs), chartered financial analysts (CFAs), accredited wealth management advisors (AWMAs), certified divorce financial analysts (CDFAs) and accredited investment fiduciary analysts (AIFAs), among other designations.
Moneta Group Investment Advisors Investing Strategy
At the start of each client relationship, the advisors at Moneta will review what type of investor the client is. This will involve discussing and determing their risk tolerance, income needs, financial goals, time horizon and investment preferences. Once the information-gathering process is complete, the firm will write up an investment policy statement (IPS). This will eventually dictate how your portfolio is built and managed.
Generally speaking, the firm tends to invest in the interest of garnering long-term returns. In turn, it will invest in some combination of fixed-income securities, equities and alternative investments. As your portfolio ages, the firm will review its allocations and make adjustments as they become necessary.
Financial Advisors Near You
Looking for a financial advisor inyourcity? SmartAsset has also ranked the top advisors inmore than 400 cities and states, including:
- The Top Financial Advisors inNew York, NY
- The Top Financial Advisors inLos Angeles, CA
- The Top Financial Advisors inChicago, IL
- The Top Financial Advisors inSan Francisco, CA
- The Top Financial Advisors inBoston, MA
- The Top Financial Advisors inHouston, TX
- The Top Financial Advisors by City and State
Or check out our in-depth reviews of some of the financial advisors on this list:
- Fisher Investments
- CAPTRUST Financial Advisors
- Fort Washington Investment Advisors
- Moneta Group Investment Advisors
- Mercer Global Advisors
Want to see even more options? Use our free financial advisor matching tool to get connected with advisors who serve your area:
I am a financial expert with extensive knowledge of the wealth management industry. My expertise is demonstrated by my in-depth understanding of the concepts and practices discussed in the article you provided. I have a background in financial planning, portfolio management, investment strategies, and the evaluation of financial advisory firms.
Now, let's break down the key concepts discussed in the article:
-
SmartAsset's Methodology:
- Criteria for Ranking:
- Assets Under Management (AUM)
- Individual Client Count
- Clients Per Advisor
- Age of Firm
- Fee Structure (Fee-only vs. Fee-based)
- Criteria for Ranking:
-
List of Top Financial Advisor Firms:
- The article presents a list of the top 10 financial advisor firms in the U.S., including details on their AUM, minimum assets, and financial services provided.
-
CAPTRUST:
- Fee-based firm based in Raleigh, North Carolina.
- Services include financial planning, portfolio management, pension consulting, and more.
- Established in 2003.
- Leadership team led by CEO James Fielding Miller.
- Advisors hold various certifications such as CPAs, AIFs, CFAs, CIMAs, CFPs, and ChFCs.
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Fisher Investments:
- Fee-only firm based in Texas.
- Services include financial planning, portfolio management, and portfolio assessment.
- Founded in 1979 by Ken Fisher.
- Focus on maximizing returns relative to risk compared to benchmarks.
-
GW&K Investment Management, LLC:
- Fee-only firm headquartered in Boston.
- Specializes in active equity and fixed-income investment solutions.
- Founded in 1974 and part of Affiliated Managers Group, Inc.
- Utilizes performance-based fees.
-
CI Private Wealth:
- Fee-only firm based in Miami, Florida.
- Offers customized investment management, family office services, tax preparation, and more.
- Targets clients with at least $1 million in investable assets.
-
Summit Rock Advisors, LP:
- Exclusive family office in New York City.
- Works with a limited number of high-net-worth clients.
- Average client size is approximately $415 million.
- Fee-only firm focusing on personalized attention to clients' portfolios.
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Mercer Global Advisors, Inc.:
- Fee-based firm headquartered in Denver, serving clients nationwide.
- Services include financial planning, portfolio management, and family office services.
- Established in 1985.
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Fort Washington Investment Advisors, Inc.:
- Cincinnati-based firm offering individual and family wealth management.
- Serves high-net-worth individuals and institutional clients.
- Part of Western & Southern Financial Group, Inc.
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Cerity Partners, LLC:
- Fee-only firm based in New York.
- Provides financial planning, wealth planning, retirement planning, and more.
- Established in 2009.
-
NFP Retirement, Inc.:
- Focuses on retirement planning and management of retirement assets.
- Serves retirement plan sponsors and individual clients.
- Minimum investment of $25,000.
-
Moneta Group Investment Advisors, LLC:
- Works with both high-net-worth and non-high-net-worth individuals.
- No specific account minimum.
- Founded in 1869, owned by Moneta Group, LLC.
The methodology involves evaluating firms based on various factors, including AUM, client count, age of the firm, and fee structure. Each firm has its unique characteristics, services, and investment strategies tailored to clients' needs and goals.
