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Top 5 Wealth Management Firms in The United States
In the press:
SmartAsset's Top 5 Firms in the U.S.
Finding the top financial advisor in the United States means choosing between thousands of options. Whether you're looking for help with retirement, wealth management or tax planning, the U.S. is home to thousands of advisors that can meet your specific needs. Based on the methodology outlined below, SmartAsset identified these financial advisor firms as among the top 5 financial advisor firms in the U.S.
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 primarily serve individual clients, and those that have disclosures on their record. The qualifying firms were then ranked according to the following criteria:
- AUM: Firms with more total assets under management are ranked higher.
- Individual Client Count: Firms that serve more individual clients (as opposed to institutional clients) are ranked higher.
- Clients Per Advisor: Firms with a lower ratio of clients per financial advisor are ranked higher.
- Years In Business: Firms that have been in business longer are ranked higher.
- Fee Structure: Firms with a fee-only (as opposed to fee-based) compensation structure are ranked higher.
These stats are updated annually and accurate as of May 25, 2023. 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. SmartAsset did not receive compensation for including any of the firms on the aforementioned list.
Potential Benefits of a Fiduciary Financial Advisor
A 2022 Northwestern Mutual study found that U.S. adults who work with a financial advisor “feel like they’re on more solid ground across the board" compared to those who don’t.1
Working with an advisor who abides by fiduciary duty gives you the assurance of knowing they’re legally obligated to put your interests first. While a fiduciary can still have conflicts of interest, knowing that they have a duty of trust and loyalty with you, the consumer, can give you some peace of mind. That’s why most experts recommend asking an advisor whether they abide by fiduciary duty when you first meet with them. You can also use a service like SmartAdvisor, which matches would-be clients with fiduciary financial advisors.
Net worth from age 45 to 77
Final lifetime net worth with and without a financial advisor.
Disclaimer: This example demonstrates the potential final lifetime portfolio value, accounting for estimated investment returns, tax savings and inflation over different life stages for an individual starting with $500,000 at age 45, through age 77. Under a set of core assumptions, this consumer profile is projected to have a final lifetime portfolio value of approximately $3.24 million if retaining the services of a financial advisor – not accounting for additional savings or portfolio withdrawals – versus a final estimated lifetime portfolio value of $1.56 million without the services of a financial advisor. This example is based on the valuation framework presented in SmartAsset's whitepaper “The Value of a Financial Advisor: What's It Really Worth?” (Nov. 2024). The value of professional financial advice is only an illustrative estimate and varies with each unique client's individual circumstances and portfolio composition. Carefully consider your investment objectives, risk factors, and perform your own due diligence before choosing a financial advisor.
Disclaimer: This example demonstrates the potential final lifetime portfolio value, accounting for estimated investment returns, tax savings and inflation over different life stages for an individual starting with $500,000 at age 45, through age 77. Under a set of core assumptions, this consumer profile is projected to have a final lifetime portfolio value of approximately $3.24 million if retaining the services of a financial advisor – not accounting for additional savings or portfolio withdrawals – versus a final estimated lifetime portfolio value of $1.56 million without the services of a financial advisor. This example is based on the valuation framework presented in SmartAsset's whitepaper “The Value of a Financial Advisor: What's It Really Worth?” (Nov. 2024). The value of professional financial advice is only an illustrative estimate and varies with each unique client's individual circumstances and portfolio composition. Carefully consider your investment objectives, risk factors, and perform your own due diligence before choosing a financial advisor.
Find Qualified Financial Advisors That Serve Your Area
Our above list may have kickstarted your financial journey, but you can take it to the next level using SmartAsset’s free financial advisor matching tool. While the methodology is different and you may not be matched with one of the firms mentioned above, our exclusive tool will match you with qualified fiduciary advisors, obligated to work in your best financial interest.
By clicking your state below and completing our questionnaire, we'll match you with vetted fiduciary financial advisors. From there, you can compare their personalities and investment strategies to decide which advisor will most help you achieve your financial goals.
Legally Committed to Your Financial Success
SmartAsset has matched thousands of people with financial advisors. Advisors are rigorously vetted through our proprietary due diligence process. We only match with fiduciaries, so all of your financial advisor matches are legally committed to acting in your best interest.
The SmartAsset Guarantee
SmartAsset's advisor matching service is at no cost to you and there is no obligation to work with any of your advisors matches. You're in control. We are paid by our large network of fiduciary advisors to connect them with potential clients that may be a good fit.
The criteria for the matching tool differs from the methodology for the list above and you may not be matched with the advisor firms mentioned in this article.
Click Your State to Get Matched With Financial Advisors Who Serve Your Area
After you choose your state and answer a few questions, you can compare fiduciary financial advisors who serve your area and decide which to work with.
Select Your State to Get Matched With Financial Advisors Who Serve Your Area
After you choose your state and answer a few questions, you can compare up to three advisors that serve your area and decide which to work with.
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