Top Financial Advisor Near Me | PillarWM
Having a top financial planner to manage your assets is one of your most important decisions. Most wealthy people struggle with complicated issues like taxes, portfolio diversification, investing plans, cash flow, risk assessment, dividend earning, funds for charitable giving, disabilities institution/college, and retirement income planning.
If you’re trying to find a financial planner or an investment management firm, this guide will make you understand their services and the need for financial experts. It will answer all questions, from their charging system to finding top-rated planners close to you.
Finding the right financial advisor for your situation isn’t something to do too fast. But you don’t want to put it off either. Your best first step is to discover what to look for in an advisor so your investment performance and retirement security are as assured as possible. Click the button to request our free comprehensive guide.
Mind you, not every financial planner will be the same. For instance, Pillar Wealth Management specializes in helping families with between $5 million to $500 million in investable liquid assets. We offer local and global financial services. Find an advisor that caters to your financial state
Table of Contents
The 9 Biggest Financial Advisory Firms in the U.S.
|1.||Facet Wealth||$1,800 and up|
per year (free initial consultation)
|2.||Vanguard Personal Advisor Services||0.30%|
|3.||Zoe Financial||Varies by advisor||$100,000|
|6.||Harness Wealth||Up to 1%|
|7.||Ellevest Private Wealth Management||0.90%||$1,000,000|
|8.||Schwab Intelligent Portfolios Premium™||$30|
|9.||Wealthramp||Varies by advisor||$0|
Roles of Top Financial Advisors
If you are trying to find a financial advisor, below are some services you can expect them to offer.
- Financial Planning
- Risk Management
- Tax Planning
- Retirement Planning
- Investment Management and Selection
- Real Estate Planning services
- Legacy Planning
- Debt Management
- Business Planning
Aside from doing all these, a financial planner would work with other professionals like tax accountants, insurance advisers, institutional wealth advisers, social security optimization, and other money advisers to manage your accounts.
Some financial advisor services are free. Some advisors charge an hourly fee, ranging from $200-$400 per hour. They may charge a yearly fee of up to $7,000 or a percentage of the value of your assets.
It is worthwhile to hire a wealth manager if you have assets that need managing, or you find investing too confusing and complex, or you have too many assets to manage on your own.
Generally speaking, you should have at least $100,000 in savings before hiring a financial advisor. Keep in mind that investing can be risky, so be willing to lose some of that money.
For a single consultation, a financial advisor may charge you a flat fee of $1,000 or more. They may charge you by the hour (at lease $200/hr) or a percentage of the value of the assets they manage.
You should shop around before selecting an advisor as their fee structures will vary, although a typical fee is around 1% of the value of the assets under management.
Financial advisors can always make investment recommendations, but they can also provide complete investment management. So, they will have access to your accounts.
It is normal for a financial advisor to charge an annual retainer fee that is based on the value of the assets they manage, although they may also charge a flat fee for particular services.
You can contact some of the big firms, such as Vanguard or Schwab, or a smaller firm located in your geographical area. Have a conversation with several advisors and check their credentials.
An internet search will show you listings of local advisors as well as representatives of the bigger firms. Talking to friends and colleagues can lead to good recommendations.
You really need to know about their experience and success stories as well as the services they offer and how much they charge. Ask if they are a fiduciary or if they take commissions.
4 Reasons Ultra-High Net-Worth Families Need A Financial Planner?
Suppose you are thinking about what a top wealth adviser does and how they can benefit super-rich investors. In that case, you must know that wealthy clients hire dedicated wealth advisors and qualified wealth managers to quickly meet their long-term goals.
1. Manage Money Better
Wealthy families need the support of advisors because of their level of expertise. They are field experts and understand more about managing money and investing than most investors. They can guide potential investors to make better choices by offering financial insight to help them earn high returns in both the short and long run and meet their goals.
As much as wealthy individuals need monetary advice, many others need help with matters like credit card management, loans, etc. The best financial professionals can cater to the needs of all these clients.
To learn more about how financial advisors help direct portfolio performance, click here to read our guide.
2. Separate Emotions from Decision-Making
Financial markets have no place for emotions. An experienced financial planning expert helps wealthy investors stay on track to make decisions that are not backed by emotions.
Financial advisors guide clients to buy on market lows and sell on market highs. They direct potential investors to benefit from the sudden dips in financial markets that shoot their finances through the roof. Schedule a Call with CEO and Co-Founder Hutch Ashoo, a certified professional, and discover ways to improve your finance and accounts.
3. Devise And Review The Best Financial Strategies
A financial advisor will be able to devise appropriate strategies for ultra-wealthy clients so that they can positively improve their finances. They run a market analysis to understand business dealings best suited for their investors.
If you are interested in learning more about this, order a free hardcover of our book, The Art of Protecting Ultra-High Net Worth Portfolios and Estates – Strategies For Families Worth $25 Million To $500 Million.
4. Handle Interaction between Investments & Taxes
You should expect expert “financial advisors near me” and a financial planner to assist greatly in investment management and tax issues.
It is difficult for investors to understand everything about tax laws. They can introduce alternative investment options, such as hedge funds and venture capital, to earn tax-adjusted returns. They can open up the world of investment based on the tax ecosystem so that big players can employ effective investment strategies to maximize after-tax returns.
If you have over $10 million in liquid assets and need financial planning services or one of the “financial advisors near me” who will prioritize tax minimization, click here to read our exclusive guide.
5 Ways to Find An Advisor
If you are trying to find top-rated financial experts and advisors, first speak to your wealthy friends to pick an expert wealth and investment management company. People share personal experiences that can benefit you in over one way.
You can also search online to pin down a few big advisory consultants in the industry offering fee-based local financial services. Reputable websites are an excellent place to start. You can view their performance ratings to learn more about each firm.
Here are five steps to choosing the best certified financial planner to serve super-wealthy individuals’ complex needs.
1. Determine the Type of Advisor
First and foremost, you need to identify which specialist from your search for “financial advisors near me” can help you with your needs. You can determine different types of financial planners based on how they get paid.
Up next, you can shortlist one from your search for “financial advisors near me,” depending on what you need: asset management, financial planning, investment strategy considerations, and hourly consultation.
For massive portfolios, hire a certified financial planner you can access online and with access to 1M+ customer reviews.
2. Select a Fiduciary
Find a fiduciary to well serve your investment interests. A thorough search for a financial planner that perfectly meets this standard is recommended. An advisor is ethically, morally, and legally required to do what is in the client’s best interest.
3. Consider the Five Core Areas
In addition to the fiduciary factor, you must consider all five core areas to make the most of your money and diversify your portfolios best.
The core areas are:
- Income planning
- Investment Planning
- Tax planning
- Health care planning
- Estate/legacy planning
It is imperative that any registered professional offer written plans to ensure stable income, handle the matter of inflation promptly, cover rising healthcare costs and taxes, and cater to program & policy changes made by the government.
4. Look for Reputable Credentials
High net-worth investors need to look for advisors that are CFPs (Certified Financial Planners), CFA (Certified Financial Analysts), or CPAs (Certified Public Accountants), or CPWA – Certified Private Wealth Advisors.
Potential investors can also look for PFSs (Personal Finance Specialists). They also view the advisors to check if they are members of NAPFA (National Association of Personal Financial Advisors), a financial planning trade institution established in 1983.
Check on the records to connect with and review credentials by looking at backend records and the history of financial planners and experts with the Financial Industry Regulatory Authority (FINRA), the Security and Exchange Commission (SEC), and the CFP Board.
5. Cost for Services
An advisor’s costs for payments and services are essential factors to consider when searching for financial planners. The fees depend on the particular needs of the clients.
Financial advisers are suggested to provide expected costs for their services. Wealthy investors can also inquire with advisory firms whether the price will be based on a flat annual percentage, an advisor’s hourly rates, or a percentage as commission.
Breaking Down Wealth Adviser/Financial Advisor Payment Structures
In 2022/2023, any financial advisor would charge a flat rate of $1500 to $2500 for a one-time full-fledged financial plan. Ask any advisor to discuss their payment system with you. You can speak with our team of experts to find the best rate for you.
Average fees for “financial advisors near me”
Percentage of Assets Under Management
- 1% to 2% per year
- $1000 to $3000
- $100 to $675 per hour
Each one of the above fees does not affect the level of financial strategy service we will offer you. Remember that our company is a fee-only firm, which means we will not charge anything to your cash flow after paying the fees. Any financial advisor should be able to make their payment method clear to their clients.
8 Reasons You Need To Look For A Top Financial Advisor
You need unbiased third-party opinions to grow your wealth when you don’t feel confident in your business choices. It would be best if you started caring for your investments to mitigate potential risks. View the following points to identify the signs when you need to consider:
1. You Desire to Hit Maximum Business Opportunities
Understandably, investing your money in a financial market, business idea, or piece of real estate can be an excellent opportunity to gain.
Unfortunately, hitting opportunities without proper analysis can result in severe losses. Therefore, hiring an analyst is imperative to help you achieve high returns on low-risk business opportunities.
2. You Have Specific Financial Goals
Financial advisors can well serve the specific goals you have in the long run. It is thought-provoking to make the most out of your investments. But with professional support, you can receive market insights on making the right decisions to earn high returns in the future.
At PWM, we can help you reach your goals without taking on excessive risks while ensuring high performance. To learn more about this, click here to read our guide on the 5 critical shifts that influence portfolio performance.
3. You Failed to Employ a Disciplined Process
Hunches don’t work in the financial world. If you have repetitively failed to choose and stick to appropriate investment strategies, then it’s time to hire a financial adviser with extensive business experience. This way, you can potentially save your wealth from market rumors.
4. You Need to Balance Your Investment Portfolio
If you feel reluctant to make productive moves or execute effective risk management strategies, the chances are high that you end up selling well-performing assets. You can ruin your entire portfolio. However, many of the “financial advisors near me” can help you rebalance a portfolio in a way that hurts it.
5. You Need to Cope with Changes in the Market
The financial market is a highly volatile place. It would help if you learned the art of dealing with market tops and bottoms. Many estate managers can guide you to maintain your portfolio’s value during the ups and downs of the market. With professional assistance, you can take advantage of adverse market conditions. An advisor helps you pull the trigger to “buy low, sell high.”
6. You Aren’t on the Same Page with Your Current Advisors.
Hire a qualified advisor if you are facing constant financial tensions. Suppose you have drastically different investment strategies compared with your current advisors. In that case, it’s a sign that you should start working with a new investment advisor to gain clarity and employ a productive strategy.
7. You Want to Start Saving for Retirement
Retirement planning is one of the most important things to do as a young earner. It prepares you for life after work is done. The top-rated financial experts will schedule a private meeting with you to discuss the right approach, offering an advisory service that helps you and your family achieve life goals.
You will find one who understands that investments grow over time. They enable you to figure out ways to earn maximum returns to build a retirement income portfolio.
8. You Have Insurance Concerns
If you have trouble selecting the right insurance policy, you should turn to a financial expert. Insurance policies for ultra-wealthy consumers are often hard to understand. Your decision can make a huge difference when backed by the opinions of an advisor with substantial knowledge of finances.
You can decide on coverage that matches your demands. This is another area where a fiduciary and fee-only financial planner will offer unbiased insights since they cannot collect commissions from insurance policies.
Pillar’s Private wealth management offers custom, sophisticated, and trusted financial insight to high-net-worth investors with between $5 million and $500 million of investable assets. Our team of professionals understands the complex investing paradigm and can provide you with the advice you seek.
Reach out to us online or call to find our location in your city. We are always ready to speak with you.
How to Find the Best Financial Advisor Near You
Like most Americans, once you embark on a career and find yourself able to save, you will probably wonder how to reach your financial goals. You can reach those goals with the help of a financial advisor.
Moreover, you may be unsure about the savings and investment options available. A financial advisor can help you clearly define your goals and how to achieve them. They will offer a wide range of services that can keep your finances in order.
What help do you need?
Before looking for an advisor, determine what kind of financial insight you want. If you are already making investments, you may want support to balance your portfolio and prepare to retire. Do you want to minimize your taxes, but don’t know how? A financial advisor can advise you in these areas.
Types of Advisors
Look for an advisor with the relevant credentials and expertise. For example, work with a certified financial planner (CFP) and a certified public accountant (CPA). Some advisors may specialize in retirement planning or estate planning. But any advisor should have training and experience in these areas.
Besides the services they provide, financial advisors may have particular fee structures.
Advisors will charge different fees depending on the services they provide. They may charge a percentage of the value of the assets they manage, hourly fees for consultations, flat fees for particular services, or an annual retainer.
Some advisors will earn commissions for the products they sell, which creates a conflict of interest. An advisor that charges only fees is more likely to be a fiduciary. This means he is someone who prioritizes the interests of clients over his.
Registered advisors under SEC and FINRA are firms that provide fiduciary advice and employ investment advisory representatives (IARs).
Robo advisors, which offer financial insights based on computer decision software, will usually charge lower fees, but they may not capture the nuances of your financial situation. And you may have a personal relationship with your advisor, giving you access to the entire happenings in your financial life beyond a computer screen.
Financial Advisor Services
Before choosing a financial advisor, decide which services meet a client’s needs. Monetary advisors provide help with the following:
- Saving for retirement
- Retirement plans
- Setting up trust funds
- Estate plans
- Tax minimization
- Debt management
As you consider different advisors, be sure to discuss the areas in which you need financial advice.
Searching for a Financial Advisor
Various organizations can assist you in finding an advisor and verifying credentials.
For example, when researching financial advisors, you can consult the Financial Industry Regulatory Authority (FINRA) database. FINRA’s BrokerCheck provides information on the background and experience of certified brokers, advisors, and firms.
FINRA is a non-profit organization supervised by the Securities and Exchange Commission. The Certified Financial Planner Board (cfp.org) can verify the CFP credentials of a financial advisor. You can find an online service through their website; enter a ZIP code, state, or city.
We are trustworthy and offer the same quality of service that you would receive in our office, and we use the most secure approach to transmit your private accounts.
Our fee-based services are offered to clients in Washington DC, New York, and several other places in the US. You will find our team in any big listing you search for, as our services are promoted on the biggest directories. Uncover what you are missing with an initial consultation with PillarWM.