Top Rated Financial Advisors
As an individual with a large network and who is also at the top 1% on the wealth ladder, it can be quite challenging to maintain your wealth. This is because huge investment portfolios typically need specialized management.
STRATEGIES FOR FAMILIES WORTH $5 MILLION TO $500 MILLION
7 Secrets To High Net Worth Investment Management, Estate, Tax and Financial Planning
The insights you’ll discover from our published book will help you integrate a variety of wealth management tools with financial planning, providing guidance for your future security alongside complex financial strategies, so your human and financial capital will both flourish.
Clients frequently share with us how the knowledge gained from this book helped provide them tremendous clarity, shattering industry-pitched ideologies, while offering insight and direction in making such important financial decisions.
But how do you get investment advice and financial planning services? You will need to find the top rated financial advisors and work with them to protect your investment portfolio and improve it. Whatever your financial needs are, from analysis of investment instruments like stocks, bonds, mutual funds, or a financial plan that would map out how your goals will be achieved, it will be wise to employ a financial professional such as a financial planner. This is even more important if you have a large investment portfolio of $10 million and above. With over three decades of experience managing the investment portfolios and wealth of affluent clients, Pillar Wealth Management LLC understands the unique demands of financial planning for ultra-high-net-worth individuals. If you have an investment portfolio of $10 million or more, get our free resource here. It will help you find the best wealth manager and help you build your investment portfolio.
As an individual with a large network and who is also at the top 1% on the wealth ladder, it can be quite challenging to maintain your wealth. This is because huge investment portfolios typically need specialized management. But how do you get investment advice and financial planning services? You will need to find the top rated financial advisors and work with them to protect your investment portfolio and improve it. Whatever your financial needs are, from analysis of investment instruments like stocks, bonds, mutual funds, or a financial plan that would map out how your goals will be achieved, it will be wise to employ a financial professional such as a financial planner. This is even more important if you have a large investment portfolio of $10 million and above. With over three decades of experience managing the investment portfolios and wealth of affluent clients, Pillar Wealth Management LLC understands the unique demands of financial planning for ultra-high-net-worth individuals. If you have an investment portfolio of $10 million or more, get our free resource here. It will help you find the best wealth manager and help you build your investment portfolio.
In this article, we’ll be looking at the reasons why financial planning is pivotal and the steps you can take towards it.Subject matters such as investments, taxes, budgeting and insurance, amongst many others will also be considered.This content was birthed by Pillar Wealth Management LLC, a firm that focuses on wealth management i.e. providing for clients with liquid assets from $5 million to $500 million who desire to secure and grow their wealth. Are you seeking professional advice from financial experts who are experienced? Book a free, no-obligation session NOW! With Hutch Ashoo and Chris Snyder and Hutch, the firm’s founders.
A typical fee is around 1% of the value of the assets invested. You can expect to pay $2,000 to $7,000 for a financial plan and $250 to $400 as an hourly consultation rate.
The returns on your investments should be in excess of 1%, even allowing for inflation. Furthermore, if you need help, you’ll need an expert, and that expertise is worth paying for.
Ask around your network for a recommendation. Search the internet for advisors who are near you or represent the big firms, then interview candidates to find one who meets your requirements.
A financial advisor can assist anyone with financial problems, such as too much debt or not enough savings. If you aren’t yet a successful trader, you may want expert investment advice.
Having a financial advisor means paying fees, which can be costly. Also, not all financial advisors are the same, so it’s important for the advisor to know what you expect.
It might be confusing, but yes, you can have two advisors, each one working on a different aspect of your finances. You may want advisors who utilize different strategies.
Some financial advisors are brokers, trading in securities; others are investment advisors, or they are financial planners. Robo-advisors are computer algorithms that act like investment advisors.
A lead advisor is a team leader who has the knowledge and experience to manage client relationships, mentor other advisors, and develop investment strategies and models.
First, the advisor develops a comprehensive picture of the client’s financial situation, including their risk tolerance, investment expectations, and other short- or long-term financial goals.
You should meet with your advisor once every quarter to review the results of your investment strategy and whenever there is a significant change to your finances.
Better than a financial advisor is an advisor who is a fee-only fiduciary advisor, ensuring they act in your best interest at all times and with a minimum of conflicts of interest.
Table of Contents
The Top Financial Advisors in the U.S.
|Rank||Financial Advisor||Assets Managed||Minimum Assets|
|1||Fisher Investments Find an Advisor||$208,905,102,124||Varies based on account type|
|2||CAPTRUST Find an Advisor||$655,054,291,754||$50,000|
|3||Mercer Global Advisors, Inc. Find an Advisor||$34,011,524,251||Varies based on account type|
|4||Madison Investment Advisors, LLC Find an Advisor||$19,427,234,565||Varies based on account type|
|5||Summit Rock Advisors, LP Find an Advisor||$21,733,298,515||$100,000,000|
|6||Buckingham Strategic Wealth, LLC Find an Advisor||$20,855,259,683||$3,000 minimum annual fee|
|7||Moneta Group Investment Advisors, LLC Find an Advisor||$32,888,762,887||No set account minimum|
|8||Fort Washington Investment Advisors, Inc. Find an Advisor||$78,024,335,638||Varies based on account type|
|9||Beacon Pointe Advisors, LLC Find an Advisor||$23,674,542,188||$1,000,000|
|10||NFP Retirement, Inc. Find an Advisor||$78,717,910,074||$25,000|
SmartAsset Advisors is an investment adviser registered with the SEC. Its services are limited to referring users to third-party advisors that are registered as fiduciaries with a regulatory body in the US and have chosen to participate in the SmartAsset matching platform.
Here’s SmartAsset’s take on the top 10 advisors in 2022.
1. Fisher Investments
Fisher Investments was founded in 1979 by Ken Fisher, who served as CEO until 2016. The firm has its headquarters in Camas, Washington. It has over 5,000 employees, manages $200 billion in assets, and has branches in the UK, Ireland, Luxembourg, Germany, Dubai, Japan, and Australia.
Fisher Investments has won multiple awards as one of the top retirement advisers by the Financial Times, as well as one of the top RIAs.
The company’s clients include individuals (many of whom are high-net-worth individuals with at least $500,000 in investable assets), pension plans, charitable organizations, governments, and corporations.
Fisher’s services include financial planning and portfolio management for individuals, businesses, investment companies, and pooled investment vehicles.
Fisher’s Investment Policy Committee (IPC) is responsible for making all investment decisions for the firm’s clients, utilizing the company’s research department, which studies capital markets, macroeconomics, and securities. As market conditions or needs change, the client’s asset allocation is adjusted to continue to meet their long-term goals.
The firm is compensated by a percentage of assets under management and by performance-based fees.
CAPTRUST was launched in 1997 with $400 million in assets under advisement. By 1999, that number had reached $1 billion. Ten years later, the firm had reached 25 branch offices. CAPTRUST has grown significantly through acquisitions. Today, it has 83 locations and $630 billion in assets under advisement.
For individuals, CAPTRUST offers retirement planning, portfolio construction and management, risk management, tax consultation, and performance reporting (quarterly). Other services include account aggregation, cash flow planning, charitable gift planning, and education, estate, and legacy planning. Finally, CAPTRUST offers family governance planning, family philanthropic planning, and insurance planning.
For institutions, CAPTRUST provides investment advisory and fiduciary services to retirement plans, endowments, foundations, religious organizations, and institutional asset pools.
Clients pay a quarterly fee based on the total value of their investment account, and the fee is negotiated between the client and the advisor. There may be a minimum advisory fee. Account reviews are conducted at least quarterly.
3. Mercer Global Advisors, Inc.
Mercer Global Advisors has its headquarters in Denver and over 90 offices around the US.
A Mercer advisor will manage every aspect of your financial life, giving you the freedom to live your life and grow your wealth. Your advisor works to understand you, design an investment and tax strategy to create a personalized plan, and provide ongoing monitoring.
As a Mercer investor, you will be charged a monthly fixed fee based on the value of the investments in your account, ranging from 0.4% to 1.4%, including cash balances. The firm has a minimum annual management fee of $2,400 or up to 2% of AUM, whichever is less, for investment management services; a minimum annual management fee of $6,000 for family office services; and a minimum annual management fee of $75,000 for ultra-high net worth clients. For investment management services that do not include financial planning, the minimum fee is $800.
Mercer advisors are paid a fixed salary, plus bonuses and commissions.
Mercer’s services include financial planning, investment management, estate planning, tax planning, and corporate trustee services.
Mercer’s Ascend Group offers exclusive wealth management services for investments, tax strategy, and intergenerational wealth, as well as access to private banking, insurance for asset protection, and trust management.
Mercer Global Advisors’ investment strategies include strategically weighted investments, broad asset class muti-factor diversification, careful attention to cost, and systematic rebalancing to maintain a risk/return profile.
4. Madison Investment Advisors, LLC
As the name suggests, this firm is located in Wisconsin’s capital. It has been providing investment solutions since 1974. The company is 100% owned by the founder and employees. At the end of 2021, the company had approximately $25 billion in assets under management.
Madison has four investment management teams: Multi-Asset Solutions, US Equity, Fixed Income, and Institutional Equity, offering over 25 investment strategies for individuals and institutions, managing over $20 billion in client assets. These strategies participate when markets rise and protect principal when they fall.
Madison provides investment advisory services to individuals, pension and profit-sharing trusts, insurance companies, foundations, charitable organizations, and mutual funds. The minimum account size for an individual is typically $1,000,000; it’s $5 million for institutions.
Investment management includes fixed-income, balanced, and equity portfolios, which may be invested in exchange-traded funds, mutual funds, and fixed-income and equity securities. Securities are monitored daily.
For separately managed accounts, fees range from 0.4% to 0.8% annually on balances ranging from $5 million to $15 million.
Asset allocation recommendations are based on proprietary models. Investments must meet certain criteria and be available for purchase through the client’s custodian. The three types of strategies are Madison Mosaic, Madison Mosaic ETF, and Madison Mosaic Tax-Sensitive, each of which generates a different portfolio composition.
5. Summit Rock Advisors, LP
Summit Rock Advisors is located in New York City. It is registered with the SEC as a large advisory firm with at least $100 million in assets under management. Of its 75 employees, approximately 35 are investment advisors.
Summit Rock’s clients are predominantly high-net-worth individuals, typically with a minimum wealth of $100 million; other clients are pooled investment vehicles and charitable organizations. It manages approximately 140 discretionary accounts for individuals and businesses.
Summit Rock is an owner-operated business, and as such, its interests are aligned with those of its clients, believing that alignment of interests is a significant driver of investment outcome. All of the firm’s employees are incentivized with discretionary bonuses in line with market best practices. Senior team members receive deferred compensation invested in the company’s privately offered SRA portfolios, further aligning with the success of client investment plans.
Clients pay an advisory fee based on their assets under supervision (typically 0.50%), a management fee for SRA portfolios, and performance fees, which are assessed at 15% of the excess performance above the SRA portfolio benchmark. Other fees may be paid for third-party services.
Buckingham Strategic Wealth, founded in 1994, is headquartered in St. Louis. It has 47 other locations in the US. Buckingham was named one of the country’s leading fiduciaries on the Forbes Top RIA Firms list in 2022. The firm has more than 10,000 clients in all 50 states, managing $20 billion in assets.
Buckingham Strategic Wealth offers an array of services, including net worth development, retirement planning, investment planning, business owner planning, education planning, charitable giving, and tax planning. Their specialty practice areas include faith-based wealth management, planning through divorce, and LGBTQ financial planning. The firm has a trademarked financial planning process, DBP, representing a Design-Build-Protect life map for financial success.
Typically, taking into account the client’s risk tolerance, Buckingham creates a portfolio of passively and/or evidence-based mutual funds and, where appropriate, individual fixed-income securities and closed-end funds. It will use model portfolios if they match the client’s investment policy.
Buckingham’s clients include individuals/high-net-worth individuals, qualified retirement plans, charitable organizations, foundations, and corporations. There is no minimum account size but rather a $3,000 minimum fee for wealth management services. For clients with less than $300,000 in investable assets, Buckingham requires a minimum monthly fee of $250. The minimum annual fee for institutional advisory services is $26,000 for assets over $5,000,000.
Buckingham takes an evidence-based approach to investing, focusing on the best practices of the last 50-plus years of research, which is ongoing and will continue to inform the company’s recommendations. The firm does not take an active approach to investing.
7. Moneta Group Investment Advisors, LLC
Moneta has its headquarters in St. Louis and offices in Denver, Kansas City, Chicago, and Boston. It is owned by a group of 37 equity partners operating 22 teams of advisors who follow a fee-only model. The firm manages over $20 billion in assets.
The firm was founded in 1869. It pioneered a service called “planned estates” in 1933, having adopted a policy of “problems to solve, not products to sell.” Thus, Moneta does not offer proprietary investment products. They will recommend ETFs, mutual funds, fixed income securities, master limited partnerships, REITs, hedge funds, separately managed accounts, and private equity funds. There are no formal account minimums. Moneta is a fee-only wealth management firm and does not receive performance-based fees.
Moneta charges fees based on a percentage of the client’s assets, typically not more than 2%. Clients can expect to pay brokerage fees, fees charged by ETFs and mutual funds, and fees to third-party advisors.
Moneta has two categories of clients: institutional clients and family CFO/family office clients. The family CFO clients comprise high-net-worth individuals, families, trusts, and estates. The institutional clients are 401(k) and other pension plans and profit-sharing plans, foundations, endowments, and other charitable organizations.
Moneta’s investment allocations are based on the client’s risk tolerance and performance expectations, economic considerations, and income tax considerations. These measures are assigned to various asset classes, such as fixed income, equities, and alternative investments.
8. Fort Washington Investment Advisors, Inc.
Fort Washington Investment Advisors was founded in 1990 and has its headquarters in Cincinnati, Ohio, with offices in Cleveland, Albany, NY, and San Francisco, CA. The firm manages $71.6 billion in assets as of December 31, 2022. It is the primary investment arm of Western and Southern Investment holdings. Western and Southern has seven life insurance subsidiaries.
Fort Washington’s clientele includes individuals and families, institutions and consultants, endowments and foundations, and insurance companies, including those of the parent firm.
The company’s investment approach is designed to ensure the success of each client; its investment strategies include public equity, fixed income, and private equity.
The minimum size for an individual discretionary account is $500,000. Fees range from 0.50% to 1.00% of asset value. Financial planning services are charged either a flat fee or an hourly rate.
9. Beacon Pointe Advisors, LLC
Beacon Pointe Advisors was founded in 2002 and is the largest female-led RIA in the US. The firm is headquartered in Newport Beach, CA, with over 40 offices and 350 professional staff across the country, and has $25+ billion assets under advisement.
Beacon point offers financial planning and investment services to individuals, trusts, estates, charitable organizations, pension and profit-sharing plans, governments, other businesses, and private funds. Alternatives play an integral part in Beacon portfolios.
Through its Managed Account Program (MAP), Beacon recommends third-party investment managers to manage the client’s assets. These independent managers are reviewed on an ongoing basis. A portion of the client’s assets may be allocated to mutual funds, ETFs, REITs, or private funds. Generally, MAP’s minimum account size is $1 million, but this may be waived at the company’s discretion.
Beacon Pointe focuses on risk control and diversification across asset classes and investment managers. It prefers to use active management, although passive management may be used for an asset class for which an active manager has not been selected. Managers are selected by the Beacon Pointe Investment Committee.
10. NFP Retirement, Inc.
NFP Retirement, Inc. is located in Aliso Viejo, CA, with offices across the country, as well as in Canada, Europe, and Puerto Rico.
NFP provides asset management and retirement plan consulting services. Its investment advice covers a limited selection. Fees are based on the value of the assets in the client’s account and range between 0.50% and 1.25% of the retirement plan assets. A flat fee ranging from $2,000 to $500,000 may be charged depending on the scope of the project and the duration of services. Hourly fees range from $250 to $350. Advisors may receive commissions.
NFP provides advisory services to pension and profit sharing plans. It provides portfolio management services to individuals, trusts, estates, and businesses, which requires a minimum account size of $25,000.
RFP’s primary investment strategies utilize passive index funds, actively managed mutual funds, and occasionally, individual securities, diversified to minimize risk.
The firm’s asset allocation uses modern portfolio theory based on research from third-party providers and the firm’s proprietary analysis. The client’s advisor determines the specific strategy or model used.
Who Qualifies as a Top-notch Financial Planner?
As an individual with an enormous net worth and a huge enough portfolio for investment,get a top-notch financial planner before investing.Who then qualifies as a top-notch financial planner? We’ll get to that in a second. But before we do, let’s look at the attributes of a financial planner; what they do and who they are.
Financial plannersare professional financial service providers who help you get nearer to reaching your investment objectives. To do this, they take your financial goals and create a detailed financial plan out of it. A top financial planner will take a close look into your life, expenses, and financial objectives. With this information, they will create a blueprint of a detailed portfolio plan.Although the process might seem simple, it is not however. It is complicated, even more so when it comes to the asset management ofindividuals with a humongous net worth.
Would you like to get information regarding how to improve your investment portfolio?Get our free guide, Improving Portfolio Performance: The Shifts Multi-Millionaires Must Make to Achieve Financial Security and Serenity.Pillar Wealth Management LLC, created this guide.
Building a Financial Plan
When building your financial plan, a top financial planner considers multiple elements, like the goal’s time frame. Some goals are meant to be achieved as soon as possible whereas others are long-term goals.Are you seeking professional advice about your investment and financial objectives, book a free non-obligatory consultation call with the founders of PillarWealth Management LLC, Chris Snyder, and Hutch Ashoo.
Before you achieve your financial goals, your financial planner has to give you a questionnaire to fill. This is so the financial planner can get a better understanding of the position of your finances and also, to help them understand the objectives of your investment. The questionnaire will also go through a process for your top rated financial advisors to identify yourrisk profile. Your risk profile helps the planner understand how your portfolio should be managed to help you get nearer to your goals. The risk profile thatyou fit into depends on the stage of life you are in and your risk appetite. This gives the financial planner all the information needed todevelop the best plan for someone with immense wealth, especially as you try to build on it. For more information on how to improve your portfolio performance, get a copy of our guide, 5 CriticalShifts For Maximizing Portfolio Growth Strategies For Families Worth $5 million to $500 million. This guide will show you the shifts that your investment portfolio must go through to grow.
After, the financial planner decides if your goals are realistic. If they desire, they might choose to use one of the many tools for financial management such as the capital needs analysis. This will help them realize how capital can be raised to help you get to your goals, especially if you’re planning purchases like a second or third vacation home, or a luxury yacht. For this to happen, they have to check your financial budget and make a comparison of your liabilities and assets. This helps themfigure out your spending, and also helps infinding out what it would cost to meet your goals. Now let’s look at where you can find the best financial planner for your investment portfolio.
Which bank has top-notch financial advisors?
Don’t make the mistake of thinking all it takes is a simple Google search. No doubt you’ll see many experts offering financial planning services, including some banks that have top rated financial advisors. But where can you find the top-notch advisors? Here’s the thing: Before you even consider getting the top planner for your financials, get to know the different kinds of professionals out there. The understanding that comes from this will help in determining where the top-notch planners are located.
If you want to know how your wealth and estate can be better managed, request for your free copy of our hardcover book, The Art of Protecting Ultra-High Net Worth Portfolios and Estates: Strategies for Families Worth $25 Million to $500 Million. Our team at Pillar Wealth Management, LLC. will send this to your home for free.
First, we’ll be examining financial planners. As previously mentioned, a financial planner is someone who’s an expert at planning finances and investment portfolios.However, they have their disadvantages. But the main challenge you’ll face with them is the implementation of the plan.Financial planning for individuals with a huge net worth will likely be compound, and even more so when the portfolio for the investment is valued at $10 million or more. In this case, some financial planners do not have enough knowledge or experience and because of that, do not know the best assets to invest in. This also means they can’t manage your portfolio effectively.Simply, when managing assets that large, experience matters. Why? Being able to prepare a plan that is suitable doesn’t necessarily mean they know how to implement the plan. And without that, you may fall short of your generational wealth goals.
Stockbrokers (or Investment Brokers)
And that’s what you need a stockbroker for.Stockbrokers are also known as investment brokers.They give suggestions and buy assets in the form of bonds, securities and stocks in order to come in touch with your investment goals. They are different from other professionals in the finance field who get payment in the form of a fixed fee. An investment broker collects payment in form of a commission, meaning that they earn money when you purchase assets from them.
So, managing your portfolio as one of top 1% members, needs you to have an investment broker and financial planner. But sometimes, hiring both can be difficult, especially if both parties don’t match well.
This is when you need a wealth manager or more popularly known as a top rated financial advisors. Apart from performing other functions, they can do what a stockbroker and a financial planner can do. A wealth manager is skilled at insurance, generational wealth planning,investing and estate and tax planning. Suppose you need professional advice in any of these fields. In that case, you can schedule a free consultation call with Chris Snyder and Hutch Ashoo, the co-founder of Pillar Wealth Management LLC. They are experienced in providing financial advice to affluent clients.
Finding the right Financial Planner – the Top Rated Financial Advisors
When seeking advice about your finances and investment portfolio, you have to get the best planner. It is also very crucial that you locate and select a planner that is the right fit for your needs. As an individual with a large net worth in liquid assets,your needs will be quite different from an individual who is middle-class. It should be noted however that many financial planners were trained in wealth management for middle-class members. This means they might not understand the complications that comes with the management for a huge investment portfolio. The top planner for you is, therefore, a plannerwith experience in managing wealth for huge net worth individuals.
If you need more information about choosing a top rated financial advisors, our team at Pillar Wealth Management, LLC, created this valuable resource for you. Receive your copy of The Ultimate Guide to Choosing the Best Financial Advisor: For Investors with $5 Million to $500 Million in Liquid Assets.
Fiduciary duty is also one reason why an advisor is the best fit for you. Fiduciary duty is what bounds a wealth manager to act only in your interest. The case is quite different for stockbrokersand others.
An example: A stockbroker can make a suggestion about an asset for purchase, but notbecause it is in your best interest, but because it will bring a higher commission to them.Sadly, as long as the suggestionpushes you closer to your goal, it is entirely legal.
Registered Investment Advisors (RIAs)
For a business owner to register as a wealth management firm, they must be Registered Investment Advisers (RIA). However, this designation is only awarded after the company owners have passed a financial management exam. They can then register with the state that their firm will operate in or the U.S. SEC, depending on the size of the investment portfolio they are managing for their clients.
Financial advisors and wealth managers certified in this way are different as they are required by the law to give you only the best advice about investments that will push you closer to your goals. This is called a Fiduciary Duty.
Why is Pillar Wealth Management one of your best options for a financial planner in the USA?
If you want to select a planner for your finances to manage your considerable investment portfolio, consider their experience. A good option is a firm that regularly works with high-class clients. Experience in providing expert financial advice to high-class clients is very important.
When talking aboutasset management of clients with enormous net worth in the States, Pillar Wealth Management LLC can be regarded as one of the top wealth management firms. They have more than 30 years of experience providing expert financial advice to wealthy clients that have between $5 million and $500 million in liquid assets and managing investment portfolios of $10 million and higher.
If you would like to take advantage of this wealth of experience, you can schedule a free consultation with Chris Snyder and Hutch Ashoo, the co-founders at Pillar Wealth Management LLC.
- Top Financial Planners – If you want to have a high quality of life, you should consider your financial plan..
- Ultra High Net Worth Asset Allocation – Choosing wealth management which appreciates the primacy of asset allocation is in the very best interests…
- High Net Worth Estate Planning – The older they get, the more ultra-high net worth families start to get antsy about how much…
- Best Wealth Management Companies – A higher “assets under management” number signals…