Top Financial Advisors by State and City

How We Determine the Top Financial Advisors

For each Top Financial Advisor list, we only consider firms that are both registered with the U.S. Securities and Exchange Commission (SEC) and headquartered in that city or state. That’s because SEC-registered firms are bound by fiduciary duty, which means they must put their clients' best interests ahead of their own.

From there, we further narrow down the lists by eliminating any firms that have disclosures on their SEC record, meaning each firm has a clean record in the eyes of the federal government. We also cut firms that do not serve a majority of individual investors and that do not offer in-house financial planning services.

Once we whittle down all the qualifying firms in each area, we then organize and rank them according to five major metrics:

• Total advisory assets under management (AUM)
• Total individual client count
• Number of clients per advisor
• Age of the firm
• Fee structure (fee-only vs. fee-based)

All information is obtained through public records and is updated once per year following the firms' filing of their amendment to Form ADV at the end of March. 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.

How to Find a Financial Advisor to Work With

These lists are just one way you can find a financial advisor to work with. You may also want to ask trusted family members or friends with similar financial situations for recommendations, or look at professional organizations’ online databases.

Another option is to use SmartAsset's free financial advisor matching tool. The tool matches you with up to three vetted financial advisors who serve your area, and you can have a free introductory call with your advisor matches to decide which one you feel is right for you. If you’re ready to find an advisor who can help you achieve your financial goals, get started now.

As you're narrowing down your options, there are several things you may want to keep in mind. One consideration is each financial advisor's account minimum, which is the amount some advisors require you to invest in order to work with them. Some advisors don't have account minimums, while others have minimums in the millions of dollars, or have minimum quarterly or annual fees.

This can help to shed light on the types of investors the advisor typically serves. Ideally, you'll find an advisor to work with who specializes in serving clients with similar needs and financial situations to yours. For instance, maybe you want an advisor who offers services like estate planning, retirement planning or simply investment management.

One potential indicator of an advisor’s specialities or qualifications is the certifications they hold. Two of the most common certifications are the Certified Financial Planner™ (CFP®) and the Chartered Financial Consultant® (ChFC®) designations, both of which require extensive coursework to earn, as well as an adherence to certain ethical standards. Above all, you want to ensure your advisor is a fiduciary, meaning they must put your best interests above their own.

Last but not least, it's crucial to consider an advisor's fee structure. Fee-only financial advisors are the most straightforward to work with, as they only earn money from fees their clients pay. Because they're not earning commissions or other forms of compensation from selling products like insurance or securities, they tend to have fewer potential conflicts of interest. Be sure you understand how a particular advisor earns money before you decide to actually sign up as a client.