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Best Financial Advisors in Tucson

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SmartAdvisor by SmartAsset logo
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SmartAdvisor by SmartAsset

Tucson, AZ
  • Estate Planning
  • Investment Management
  • Financial Planning
  • Retirement Planning

Business Description

SmartAsset's free, five-minute tool makes it easy to find qualified financial advisors in your area. The exclusive tool uses a quick survey to help SmartAsset's exclusive algorithm match you with up to three advisors based on your specific financial needs. Each advisor is a fiduciary, legally bound to work in your best interest, and rigorously vetted by SmartAsset. You can speak with each for free, sometimes within a matter of minutes, and choose whom you want to work with. Hundreds of thousands of smart investors and retirees have already used SmartAsset's simple, no-cost service to find the right financial advisors for them.

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We scour the internet for reviews from well-known resources. Each provider is evaluated based on the quality and quantity of their reviews, their presence on multiple review sites, and their average minimum rating.
4.0
Google
3.2 / 5 (15)

Professionalism:

We hire mystery shoppers to call our providers anonymously and evaluate them. Providers who respond quickly, answer questions thoroughly, and communicate politely score higher.
4.0
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Price: Free consultation

AIO Financial logo
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AIO Financial

Tucson, AZ 85716
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Business Description

AIO Financial is a professional financial advisory business in Tucson Arizona that provides a wealth of top-notch financial services at reasonable rates. The business specializes in investment management and review, retirement planning, tax planning, debt reduction, and estate planning to name only some. Clients have consistently praised the business for their transparency and their commitment to ensuring total customer satisfaction through their work.

Reputation:

We scour the internet for reviews from well-known resources. Each provider is evaluated based on the quality and quantity of their reviews, their presence on multiple review sites, and their average minimum rating.
5.0
Facebook
5.0 / 5 (2)

Professionalism:

We hire mystery shoppers to call our providers anonymously and evaluate them. Providers who respond quickly, answer questions thoroughly, and communicate politely score higher.
5.0
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Bruce Ellwein logo
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Bruce Ellwein

5920 East Pima Street, Tucson, AZ 85712
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  • Certified Financial Planner (CFP)

Business Description

Bruce Ellwein is a financial advisor that has providing services to clients in the Tucson area since 2004. He helps families and individuals secure their future finances and savings by offering asset management services. He assists in developing income, retirement, and educational fund strategies. Additionally, Ellwein handles banking, investment, and insurance services. He currently works at First Command financial planning company and has served as a lieutenant colonel in the U.S. air force for more than 20 years.

Reputation:

We scour the internet for reviews from well-known resources. Each provider is evaluated based on the quality and quantity of their reviews, their presence on multiple review sites, and their average minimum rating.
5.0
Facebook
4.3 / 5 (12)

Professionalism:

We hire mystery shoppers to call our providers anonymously and evaluate them. Providers who respond quickly, answer questions thoroughly, and communicate politely score higher.
5.0
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Fordrix Advisors logo
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Fordrix Advisors

8165 Crooked Tree Trail, Tucson, AZ 85715
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  • Certified Financial Planner (CFP)

Business Description

Fordrix Advisors is a financial planning and investment management firm that caters to clients in Tucson. Founded by Certified Financial Planner Scott Forgues, it offers diverse investment vehicles, such as stocks, mutual funds, exchange-traded funds, certificates of deposit, and money market investments. It collaborates with annuity and individual mutual fund companies and private wealth managers in finding investment options for its clients. Forgues constructs portfolios that utilize risk management strategies, such as asset allocation and diversification and fixed or variable annuities and their insurance component.

Fortress Financial Solutions logo
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Fortress Financial Solutions

4640 East Sunrise Drive, Tucson, AZ 85718
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  • Tax Planning

Business Description

Fortress Financial Solutions is an investment management firm that serves clients in Tucson. It provides a wide range of financial services, including cash flow planning, asset and liability management, impact investing, and risk management. Additional services provided by the firm include asset protection, Social Security benefit planning, and career change management. Founder and managing member Adam Amante has been providing financial planning and investment management services for 20 years. He is a third-generation investor who lives and works in the metro area.

Reputation:

We scour the internet for reviews from well-known resources. Each provider is evaluated based on the quality and quantity of their reviews, their presence on multiple review sites, and their average minimum rating.
5.0
Google
5.0 / 5 (6)
Facebook
5.0 / 5 (6)

Professionalism:

We hire mystery shoppers to call our providers anonymously and evaluate them. Providers who respond quickly, answer questions thoroughly, and communicate politely score higher.
5.0
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Goldman Sachs Personal Financial Management logo
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Goldman Sachs Personal Financial Management

1820 East River Road, Tucson, AZ 85718
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  • Certified Financial Planner (CFP)

Business Description

Goldman Sachs offers financial plans for clients in the Tucson area. It provides individuals with wealth management and preservation, investment management, retirement services, and specialized financial services. After identifying its client's financial priorities and risk preferences, the firm designs a portfolio to diversify the asset allocations and maximize the returns. It also prepares retirees with income planning and guides households through its budgeting, tax, accounting, and legal services. Goldman Sachs head of personal financial management Joe Duran has written The Money Code, which was listed on The New York Times and USA Today’s bestseller lists.

Reputation:

We scour the internet for reviews from well-known resources. Each provider is evaluated based on the quality and quantity of their reviews, their presence on multiple review sites, and their average minimum rating.
5.0
Google
5.0 / 5 (1)

Professionalism:

We hire mystery shoppers to call our providers anonymously and evaluate them. Providers who respond quickly, answer questions thoroughly, and communicate politely score higher.
5.0
Responsiveness
Friendliness
Helpfulness
Detail
Gordian Advisors logo
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Gordian Advisors

2200 East River Road, Tucson, AZ 85718
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  • Estate Planning

Business Description

Gordian Advisors is a financial planning company in Tucson. The company acts as a fiduciary and guides clients in making decisions and helps them understand the implications of every financial decision. With its advisors, the firm offers services such as college finances management, retirement planning, investment management, estate planning, and insurance analysis. Gordian Advisors was founded in 2002 by David Hamra, who taught as an adjunct professor in the University of Arizona's Personal and Family Financial Planning program. Hamra is a Certified Financial Planner.

Reputation:

We scour the internet for reviews from well-known resources. Each provider is evaluated based on the quality and quantity of their reviews, their presence on multiple review sites, and their average minimum rating.
5.0

Professionalism:

We hire mystery shoppers to call our providers anonymously and evaluate them. Providers who respond quickly, answer questions thoroughly, and communicate politely score higher.
5.0
Responsiveness
Friendliness
Helpfulness
Detail
Impact Financial Planners logo
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Impact Financial Planners

6700 North Oracle Road, Tucson, AZ 85704
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  • Estate Planning
  • Retirement Planning
  • Tax Planning

Business Description

Impact Financial Planners is a fiduciary financial advisory firm serving Tucson clients. The firm evaluates the client’s portfolio, including estate and retirement plans, in creating a plan befitting their goals. It also deals with tax planning and projections to minimize the client’s tax liability. Moreover, the firm offers insurance analysis, including discussing the client’s insurance options and current coverage. Its Certified Financial Planner, Bill Holiday, is also the volunteer director for ProMex group, an organization that supports underprivileged Mexican communities.

Reputation:

We scour the internet for reviews from well-known resources. Each provider is evaluated based on the quality and quantity of their reviews, their presence on multiple review sites, and their average minimum rating.
5.0
Facebook
5.0 / 5 (3)
Ironwood Financial LLC logo
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Ironwood Financial LLC

1926 East Fort Lowell Road, Tucson, AZ 85719
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  • Certified Financial Planner (CFP)

Business Description

Ironwood Financial LLC is an advisory firm serving the Tucson metro. It assists clients in achieving their long-term goals through financial planning, portfolio management, and retirement planning. The company has been providing wealth management services regardless of market conditions for more than 20 years. Outside of work, it supports several community organizations, such as the Boys & Girls Clubs of Tucson. Ironwood Financial partner Alex Parrs has over 15 years of experience as a wealth manager, specializing in 401(k), small company pension plans, and portfolio management.

Reputation:

We scour the internet for reviews from well-known resources. Each provider is evaluated based on the quality and quantity of their reviews, their presence on multiple review sites, and their average minimum rating.
5.0
Facebook
5.0 / 5 (4)
Google
5.0 / 5 (3)

Professionalism:

We hire mystery shoppers to call our providers anonymously and evaluate them. Providers who respond quickly, answer questions thoroughly, and communicate politely score higher.
5.0
Responsiveness
Friendliness
Helpfulness
Detail
Laurence Lof Financial Advisors logo
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Laurence Lof Financial Advisors

Tucson, AZ 85712
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Business Description

Lof Financial Life Planning is a professional financial advisory business in Tucson Arizona that provides a wealth of reliable financial services at reasonable prices. The talented advisors are committed to strengthening the financial health of their clients by providing sound, customized investment strategies. Clients have consistently lauded the business for their reliable advisors as well as their results-driven approach to investing.

Reputation:

We scour the internet for reviews from well-known resources. Each provider is evaluated based on the quality and quantity of their reviews, their presence on multiple review sites, and their average minimum rating.
5.0

Professionalism:

We hire mystery shoppers to call our providers anonymously and evaluate them. Providers who respond quickly, answer questions thoroughly, and communicate politely score higher.
4.0
Responsiveness
Friendliness
Helpfulness
Detail
Premiere Retirement Planning & Wealth Management logo
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License Verified:

License: 294893

Investment Adviser Public Disclosure Database, SEC

Premiere Retirement Planning & Wealth Management

1715 East Skyline Drive Suite 101, Tucson, AZ 85718
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  • Retirement Planning
  • Private Wealth Advisor

Business Description

Premiere Retirement Planning & Wealth Management is a financial advising company that works with the people of Tucson. The company's financial management plans are built around the five pillars of retirement income, investment techniques, tax preparation, long-term care, and estate and legacy planning. This strategy is employed by its advisers to assist clients in securing, building, and preserving their retirement and financial freedom. The company's founder, Jeff Vogan, is a certified estate planner, a registered financial consultant, and a certified financial fiduciary.

License Verified:

License: 294893

Investment Adviser Public Disclosure Database, SEC

Professionalism:

We hire mystery shoppers to call our providers anonymously and evaluate them. Providers who respond quickly, answer questions thoroughly, and communicate politely score higher.
5.0
Responsiveness
Friendliness
Helpfulness
Detail
Professional Wealth Strategies logo
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Professional Wealth Strategies

6340 North Campbell Avenue Suite 200, Tucson, AZ 85718
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  • Estate Planning
  • Certified Financial Planner (CFP)

Business Description

Since 2003, Professional Wealth Strategies has been offering financial advice to individuals and families in and around Tucson. The boutique advisory firm develops comprehensive and personalized financial plans to help clients achieve their long-term financial goals. Some of the company's services include financial and investment advice, charitable gifting, insurance planning, educational funding, and estate planning. Its CEO, John R. Peters, is a former president of the National Association of Insurance and Financial Advisors in Tucson. He is also a Chartered Life Underwriter.

Reputation:

We scour the internet for reviews from well-known resources. Each provider is evaluated based on the quality and quantity of their reviews, their presence on multiple review sites, and their average minimum rating.
5.0

Professionalism:

We hire mystery shoppers to call our providers anonymously and evaluate them. Providers who respond quickly, answer questions thoroughly, and communicate politely score higher.
5.0
Responsiveness
Friendliness
Helpfulness
Detail
Raskob Kambourian Financial Advisors, LTD. logo
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Raskob Kambourian Financial Advisors, LTD.

4100 North 1st Avenue, Tucson, AZ 85719
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  • Estate Planning

Business Description

Established in 1986, Raskob Kambourian Financial Advisors, LTD offers services to clients in Tucson. With more than 175 years of combined financial and trust services experience, this firm focuses on different aspects of financial life planning, including cash flow analysis, retirement planning and projections, longevity planning, bequest and assets transfers, and net worth optimization. The business also helps clients in other matters, such as tax preparation, trust services and estate planning, investment management, and wealth management.

Reputation:

We scour the internet for reviews from well-known resources. Each provider is evaluated based on the quality and quantity of their reviews, their presence on multiple review sites, and their average minimum rating.
5.0
Google
5.0 / 5 (1)

Professionalism:

We hire mystery shoppers to call our providers anonymously and evaluate them. Providers who respond quickly, answer questions thoroughly, and communicate politely score higher.
4.0
Responsiveness
Friendliness
Helpfulness
Detail
––
Savvy Outcomes logo
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Savvy Outcomes

5215 North Sabino Canyon Road, Tucson, AZ 85750
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  • Estate Planning
  • Certified Financial Planner (CFP)
  • Retirement Planning

Business Description

Savvy Outcomes is a financial services company located in Tucson. It provides financial plans that cover various areas, from estates, cash, risks, and financial goals to retirement plans. Furthermore, the advisory firm offers investment recommendations that consider clients' financial risks, assets, and real estate exposure. Savvy Outcomes is led by Carol Friedhoff who also provides financial advice for residents in Ohio. She has been serving in the industry for over 15 years and maintains memberships in NAPFA and the National Speakers Association.

Professionalism:

We hire mystery shoppers to call our providers anonymously and evaluate them. Providers who respond quickly, answer questions thoroughly, and communicate politely score higher.
5.0
Responsiveness
Friendliness
Helpfulness
Detail
Silverman Associates logo
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Silverman Associates

333 North Wilmot Road, Tucson, AZ 85711
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Business Description

Silverman Associates is an independent financial advisor firm based in the Tucson metro. Founder and managing member Mark Silverman has over 25 years experience in financial planning, and he advises clients on the best ways to build and protect assets for immediate financial goals and retirement. The business is not restricted to specific companies or investment products, and its main objective is to help clients move towards retirement with financial confidence.

Reputation:

We scour the internet for reviews from well-known resources. Each provider is evaluated based on the quality and quantity of their reviews, their presence on multiple review sites, and their average minimum rating.
5.0
Google
5.0 / 5 (4)

Professionalism:

We hire mystery shoppers to call our providers anonymously and evaluate them. Providers who respond quickly, answer questions thoroughly, and communicate politely score higher.
4.0
Responsiveness
Friendliness
Helpfulness
Detail
––
TCI Wealth Advisors logo
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TCI Wealth Advisors

4011 East Sunrise Drive, Tucson, AZ 85718
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  • Estate Planning
  • Certified Financial Planner (CFP)
  • Retirement Planning
  • Insurance Products

Business Description

TCI Wealth Advisors is a financial advisory firm that serves clients in Tucson. The firm assists clients in creating or building wealth by connecting them with financial advisors who strive to understand their lifestyles and determine their financial goals. Its planning and advisory services include retirement planning, financial education, and investment strategy. One of its advisors, Vanessa Lee, is a Certified Financial Planner and a certified public accountant. Lee served as a board member of the Greater Phoenix Financial Planning Association.

Reputation:

We scour the internet for reviews from well-known resources. Each provider is evaluated based on the quality and quantity of their reviews, their presence on multiple review sites, and their average minimum rating.
5.0
Google
5.0 / 5 (3)

Professionalism:

We hire mystery shoppers to call our providers anonymously and evaluate them. Providers who respond quickly, answer questions thoroughly, and communicate politely score higher.
5.0
Responsiveness
Friendliness
Helpfulness
Detail
Treiberg Wealth Management logo
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Treiberg Wealth Management

3573 East Sunrise Drive, Tucson, AZ 85718
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  • Estate Planning
  • Certified Financial Planner (CFP)
  • Tax Planning

Business Description

Treiberg Wealth Management provides investment advice and financial planning services to clients in Tucson. The firm employs strategies and principles in building the client’s investment portfolio. Likewise, it includes the client’s financial goals and risk tolerance. The firm strategizes for effective estate management. Retirement services are also available. In addition, the firm strategizes and manages the client's tax bill. Treiberg Wealth Management is often featured on FOX 11. The firm’s advisors, Michael Treiberg and Eric Mattingly, are both Certified Financial Planners.

Reputation:

We scour the internet for reviews from well-known resources. Each provider is evaluated based on the quality and quantity of their reviews, their presence on multiple review sites, and their average minimum rating.
5.0

Professionalism:

We hire mystery shoppers to call our providers anonymously and evaluate them. Providers who respond quickly, answer questions thoroughly, and communicate politely score higher.
5.0
Responsiveness
Friendliness
Helpfulness
Detail
Underhill Financial Advisors, LLC logo
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Underhill Financial Advisors, LLC

3146 North Swan Road, Tucson, AZ 85712
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  • Estate Planning
  • Certified Financial Planner (CFP)
  • Retirement Planning
  • Insurance Products

Business Description

Underhill Financial Advisors, LLC offers financial planning services for its clients based in Tucson. With more than two decades of combined experience, the independent investment advisory firm provides planning solutions for retirement, estate, tax strategies, investment, and insurance. It serves individuals and families in transition, small business owners, corporate executives, and managers. It designs a customized financial plan that will address its client's current situation and collaborates with the latter's legal and tax advisors if necessary.

Reputation:

We scour the internet for reviews from well-known resources. Each provider is evaluated based on the quality and quantity of their reviews, their presence on multiple review sites, and their average minimum rating.
4.5
Google
5.0 / 5 (5)

Professionalism:

We hire mystery shoppers to call our providers anonymously and evaluate them. Providers who respond quickly, answer questions thoroughly, and communicate politely score higher.
5.0
Responsiveness
Friendliness
Helpfulness
Detail
Wealth Management Partners logo
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Wealth Management Partners

1980 East River Road, Tucson, AZ 85718
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  • Certified Financial Planner (CFP)

Business Description

Wealth Management Partners is a financial advisory firm that has been serving the residents of Tucson and the surrounding areas for more than 15 years. Its financial planning services include money management, college planning, retirement and estate planning, 401(k), and 403(b) advising. It also assists clients with their investment portfolios. Founding partner Thomas J. Curtis has been working in wealth management for more than 25 years. He volunteers for the Arizona Council on Economic Education.

Reputation:

We scour the internet for reviews from well-known resources. Each provider is evaluated based on the quality and quantity of their reviews, their presence on multiple review sites, and their average minimum rating.
5.0

Professionalism:

We hire mystery shoppers to call our providers anonymously and evaluate them. Providers who respond quickly, answer questions thoroughly, and communicate politely score higher.
5.0
Responsiveness
Friendliness
Helpfulness
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Wellspring Financial Partners logo
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Wellspring Financial Partners

4703 East Camp Lowell Drive, Tucson, AZ 85712
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  • Certified Financial Planner (CFP)

Business Description

Wellspring Financial Partners is a company serving clients in Tucson and the surrounding areas. It is an independent company that strives to provide both individual and commercial clients with adjustable plans that promote their financial well-being. Services offered by the company include financial planning and advising, as well as investment monitoring. Counseling and mentoring services are also offered. Wellspring Financial Partners can also serve as plan fiduciary and advisor to employers and help employees with retirement plans.

Reputation:

We scour the internet for reviews from well-known resources. Each provider is evaluated based on the quality and quantity of their reviews, their presence on multiple review sites, and their average minimum rating.
5.0
Google
5.0 / 5 (3)

Professionalism:

We hire mystery shoppers to call our providers anonymously and evaluate them. Providers who respond quickly, answer questions thoroughly, and communicate politely score higher.
5.0
Responsiveness
Friendliness
Helpfulness
Detail
Back to Providers

Frequently Asked Questions

Introduction

There are many titles for financial professionals, so it's challenging to track what each one means. A financial advisor is probably the term you've heard most often. Financial advisor is a broad term for a professional who helps individuals or companies manage their finances, including investment choices. There are over 100 certifications that financial advisors can obtain.

  • Financial planners, wealth managers, and investment advisors are all financial advisors with different focus areas.
  • A financial planner helps an individual or a company make a plan to achieve long-term financial goals.
  • A wealth manager helps individuals maintain their wealth through various disciplines and services, such as taxes, estate planning, and investment advice.
  • An investment advisor offers investment advice and recommendations to individuals or organizations.
There’s a misconception that you have to be extremely wealthy to use a financial advisor. In reality, they can be beneficial for people from any income level. Keep reading to find answers to the most commonly asked questions about financial advisors, so you know which type can fit your specific needs.

Are financial advisors worth it?

Whether or not a financial advisor is worth it depends on your personal situation. If your finances are fairly straightforward, then you may be better off handling it on your own. But if you have substantial assets or a complex investment portfolio, then hiring someone to handle it for you can be well worth the cost.

What does a financial advisor do?

Financial advisors can have many types of specialties. Generally, a financial advisor advises on or helps to execute a financial plan. Some examples include assisting people with getting out of debt, building out an investment portfolio, and handling taxes.

How much money do I need to work with a financial advisor?

There’s no specific income level you need in order to work with a financial advisor, but there may be a minimum investment amount for certain types of services. Some financial advisors won’t manage your money unless you have $100,000 or more to invest, but this isn’t the case with financial coaches or robo-advisors.

What does a financial coach do?

Financial coaches focus on improving your financial literacy and money management skills. For example, they can help you figure out how to pay down your student loans or decide how much money to put away for retirement. They usually charge by the hour and don’t offer asset management services or investment advice.

When should I use a financial advisor vs. doing it myself?

Smart money management can give you freedom and comfort. Being responsible with your money makes it possible to meet goals and pay for major expenses. A financial advisor is trained and can offer you expertise that would otherwise take years to learn. They know how to save you money and make it go further.

How do I know if my financial advisor is trustworthy?

Because financial advisors aren’t licensed or regulated, it’s up to the client to make that determination for themselves. However, if your advisor is a fiduciary, that means they’re legally bound to act in your best interest. Some types of advisors, including Certified Financial Professionals (CFPs), are held to fiduciary standards.

What\'s the difference between a financial advisor and a financial planner?

The term financial advisor is a broad phrase that encapsulates many specialties, including financial planner. It's similar to how doctor applies to different physicians, while a cardiologist is a specialty doctor. A financial planner helps their client plan to achieve long-term financial goals, such as saving for a house or retirement.

Are financial advisor fees tax deductible?

Until 2018, financial advisor fees were tax deductible as a miscellaneous expense. However, the Tax Cuts and Jobs Act elimited that deduction until at least 2025.

What is a financial consultant?

A financial consultant and a financial advisor are essentially the same. In recent years, financial consultant has become a less popular term, with financial advisor being much more common. Sometimes, the financial professional may opt for the term consultant when offering services to a business rather than an individual.

What is a robo-advisor?

A robo-advisor is essentially an algorithm that manages your investment portfolio for you. Because their services are automated, you’ll pay less than you would for a human advisor — often between 0.25% and 0.50%. They don’t require large initial investments either, making them a popular choice for entry-level investors. However, you won’t get the same level of advice that you would get from a personal financial advisor.

What makes someone a fiduciary?

Fiduciary is a legal term for a person who has a legal or ethical responsibility to act in your best interests. For example, a trustee and a beneficiary. A financial advisor may have a fiduciary obligation to make financial choices that are best for you, even if it means they earn less in commissions or fees.

How often should I meet with my financial advisor?

After your initial meeting, you may only need to check in with your financial advisor on a quarterly or annual basis. Ask them in advance how often you can expect to hear from them, and whether they offer in-person, phone, or virtual meetings.

Should your financial advisor be a fiduciary?

It’s important to understand that only some — not all — financial advisors have a fiduciary obligation to their clients. Always ask your financial advisor if they’re bound by fiduciary duty. If not, it’s possible that they’ll push products or services that earn them the highest commission, not necessarily what’s best for you. Opt for a financial advisor bound by fiduciary duty whenever possible.

Can my financial planner help with taxes?

Financial advisors aren’t necessarily accountants or tax preparers, so don’t expect them to prepare your taxes for you. However, they may be able to provide tax-related advice to help you optimize your returns and deductions. If you need an advisor who can file your taxes, look for one who is also a CPA (Certified Public Accountant).

Do I need a financial advisor?

Ask yourself if a financial advisor can fill a need or solve a problem you can’t easily handle on your own. They can be helpful in a wide variety of ways, such as building budgets or financial plans, finding ways to save money on taxes, creating an investment portfolio, or offering investment advice.

How do financial advisors get paid?

Clients pay to work with a financial advisor whether it’s through fees, commissions, or salaries. If they’re paid by client fees or commissions, their salary is tied to how much business they bring in. The harder they work, the more they make. In comparison, a salaried employee is guaranteed their wage no matter how many clients they have.

What experience should I look for in a financial advisor?

 If you have specific goals or a unique financial situation, look for a financial advisor with expertise in that area. For example, some financial advisors specialize in working with millennials or focus on socially responsible investing.

How much does a financial advisor cost?

A financial advisor’s costs depend on their fee structure. Some advisors charge a fee — either hourly or a percentage of the client assets under management. Another common option is to charge a commission on the products sold or investments made.

Should I hire a financial advisor before buying a house?

While not always necessary, a financial advisor could help you decide how large of a mortgage to apply for, how much money to put down, and how to balance the purchase with other savings and investment goals.

How many financial advisors are there in the U.S.?

According to the U.S. Bureau of Labor Statistics, it’s estimated that there are 218,050 financial advisors. California is the state with the highest employment of financial advisors across the nation.

Do banks offer financial advisors?

Yes, many banks have financial advisors on staff. Your bank may also offer incentives to work with their financial advisors, such as lower fees or free accounts. However, it's important to note that many of the bank's financial advisors don't have a fiduciary obligation and might prioritize the bank's products above all else. There is a cost when working with your bank's financial advisor.

Should I hire a wealth manager?

A wealth manager can help offer complex financial planning services, including tax guidance, estate planning, and legal assistance. While you don't have to be a high-income earner to benefit from a financial advisor, a wealth manager is typically for those that have a high net worth. However, many people build wealth and need a wealth manager later on in life.

Is wealth management worth it?

Wealth management is typically worth it for those who need help with multiple endeavors or comprehensive financial situations, such as charitable contributions or investment portfolio management, or want to protect their assets. A wealth manager can also offer you guidance if you’ve been neglecting your finances or making poor judgements.

How can you tell if a financial advisor is bad?

Your relationship with your financial advisor is a very personal one, as you’re trusting them with your wealth and future. Some general signs that your financial advisor is bad include:

  • They can’t answer your financial questions
  • You have worked with them for a while but haven’t seen a financial improvement
  • They don’t provide you with progress reports
  • They don’t check in with you

What do you need to be a financial advisor?

As mentioned, there are over 100 types of certifications for financial advisors. The training or experience you need will depend on which specialty you want to pursue. Generally, financial advisors need to have:

  • A Bachelor’s degree
  • A General Securities Representative license (Series 7 license)
  • A Certified Financial Planner (CFP) certification isn’t mandatory but is often preferred

Where do financial advisors work?

Where a financial advisor works will depend on what type of financial advisor they are. Financial advisors can work at a variety of places, including:

  • Securities and commodity brokers
  • A bank
  • A credit union
  • Independently
  • Insurance companies
  • Financial investment firms
  • Small investment advisory firms

How much do financial advisors make?

In 2019, the national average salary for a financial advisor was $87,850. However, it’s important to note the average salary varies from state to state and the different focus areas — an investment advisor may make a lot more than a financial planner. Lastly, salary can depend on how the individual is getting paid. Financial advisors can be paid by client fees, commissions, or salaries.

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