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Best Financial Advisors in New Britain

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Connecticut Wealth Management, LLC logo
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Connecticut Wealth Management, LLC

281 Farmington Avenue, Farmington, CT 06032
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  • Certified Financial Planner (CFP)

Business Description

Connecticut Wealth Management, LLC is a financial advisory firm that serves clients in New Britain. It handles financial planning and asset and investment management. It also offers business owner services like setting up personal investments and estate and insurance plans, including company transition and continuity. Its advisors have a collective industry experience of more than 180 years. The Harford Business Journal named the company the best private wealth management firm of 2017.

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
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Cowen Tax Advisory Group logo
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Cowen Tax Advisory Group

433 S. Main St., Suite 310, West Hartford, CT 06110
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  • Retirement Planning
  • Insurance Products
  • Tax Planning

Business Description

Cowen Tax Advisory Group is a financial advisory company that has been serving the residents of New Britain for over four decades. It provides various financial services, including income strategy maximization, asset allocation, and tax planning. It also coordinates financial products such as life insurance, investments, and annuities. President Roger Cowen holds Chartered Financial Consultant and Chartered Life Underwriter designations. Cowen Tax Advisory Group has been featured on FOX CT, WTNH 8, and WFSB.

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.
4.8
Google
4.8 / 5 (19)

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
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Detail
Entrust Wealth Partners logo
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Entrust Wealth Partners

433 South Main Street, West Hartford, CT 06110
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  • Certified Financial Planner (CFP)
  • Retirement Planning
  • Tax Preparation
  • Tax Planning

Business Description

Entrust Wealth Partners is a local advisory firm serving clients in New Britain. The company helps individuals and families manage their wealth and secure their financial future. It offers impact investing, tax and charitable giving strategies, and financial, estate, and investment planning. Its team of professionals coordinates meetings with clients to understand their goals and guide them in making well-informed decisions about their finances. Owners Keith G. Wetjen and Peter C. Pabich are also both Certified Financial Planners and Certified Business Exit Consultants.

essex.financial logo
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essex.financial

176 Westbrook Road, Essex, CT 06426
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  • Certified Financial Planner (CFP)

Business Description

Serving New Britain and the surrounding areas, Essex Financial has provided its clients with a personalized and hands-on approach to their financial needs. The firm helps managers and business owners with innovative strategies for tax reduction by working with their lawyers and accountants. It also helps non-profit and institutional clients create investment policy statements, including social mandates, asset allocation, risk tolerance, and spending policy. The firm also operates as a subsidiary of Essex Savings Bank.

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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Fuchs Financial logo
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Fuchs Financial

433 South Main Street, Suite 322, West Hartford, CT 06110
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  • Certified Financial Planner (CFP)

Business Description

Fuchs Financial is a company that serves individuals in New Britain and neighboring areas. Its financial advisors offer planning for the clients' investment, tax, income, healthcare, and estate and legacy. They also provide wealth management by incorporating investment consulting strategies and services to help clients protect their interests while growing and maintaining profits. In addition, they offer retirement advisory services to assist individuals in managing their pension and social security. Founder Ben Fuchs has more than 15 years of experience in financial investment.

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
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Goldberg Larkin logo
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Goldberg Larkin

433 South Main Street Suite 105, West Hartford, CT 06110
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  • Certified Financial Planner (CFP)

Business Description

Goldberg Larkin is a financial advisory firm serving clients in New Britain. Its team of advisors provides financial guidance to individuals going through life transitions, including divorce, retirement, loss of a loved one, or acquiring unexpected assets from inheritance or lottery. In addition, it offers various investment options, such as individual equities, mutual funds, and annuities. One of the company's partners, Ed Goldberg, has over 25 years of industry experience. He holds the Certified Financial Planner, Chartered Financial Consultant, and Certified Divorce Financial Analyst designations.

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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GYL Financial Synergies logo
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GYL Financial Synergies

65 Memorial Rd, Ste 530, West Hartford, CT 06107
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  • Certified Financial Planner (CFP)

Business Description

Established in 2016, GYL Financial Synergies is an advisory firm serving both private and institutional clients in New Britain. Its professionals work with individuals and families to develop financial plans tailored to their specific goals, including retirement, income, cash flow, education, and estate planning. In addition, they serve as fiduciaries, making investment recommendations to corporations, endowments, foundations, and municipalities. Owner and CEO Gerald B. Goldberg was named one of the Top 400 US Advisors in 2014 by the Financial Times.

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
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Medallion Wealth Advisors LLC logo
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Medallion Wealth Advisors LLC

2 Bridgewater Road, Suite 201, Farmington, CT 06032
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  • Certified Financial Planner (CFP)

Business Description

Medallion Wealth Advisors LLC is a firm serving the New Britain area. For over 20 years, its financial advisors have helped high-net-worth individuals, organizations, and charitable foundations define their goals, prioritize, and analyze their financial condition. They also provide a multi-step personal financial planning process for pension funds and retirement plans. Investment and portfolio management, IRA or 401(k) distribution strategy and college preparation are also available. The firm's president, E. Thorson Cheyne, was the 2004 to 2010 VP and financial advisor at Morgan Stanley Smith Barney.

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.
4.8
Google
4.8 / 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.
5.0
Responsiveness
Friendliness
Helpfulness
Detail
millermoriarty.com logo
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millermoriarty.com

35 Court Street, New Britain, CT 06051
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  • Estate and Trust Specialist
  • Tax Preparation
  • Tax Planning

Business Description

Miller Moriarty & Company, LLC, is a company that serves individuals and businesses in New Britain and the surrounding communities. It offers financial advisory services that help manage the client's business, personal wealth, income, and assets. It provides various financial solutions, such as business advisory and consulting, estate, trust, and gift planning, and advisory and tax planning for individuals and families. The company has been in the business for more than 30 years. It has worked with different industries, including agriculture, manufacturing, and medical.

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 (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
MJP Wealth Advisors logo
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MJP Wealth Advisors

790 Farmington Ave. Bldg 3, Farmington, CT 06032
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  • Certified Financial Planner (CFP)

Business Description

MJP Wealth Advisors is an independent family-owned firm that serves individuals, families, and business owners in New Britain. Its financial advisors prepare customized plans designed to improve clients' wealth and investment portfolios. These advisors also handle estate, retirement, tax, and insurance planning matters. Additionally, they conduct risk assessment reports. MJP Wealth Advisors has been in the financial management industry for over 40 years. Its president, Brian Vendig, was named in the Forbes Best-In-State Wealth Advisors list.

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
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Detail
New England Capital logo
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New England Capital

79 Main Street, Meriden, CT 06451
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  • Certified Financial Planner (CFP)

Business Description

New England Capital has been providing tailored financial advice to residents of New Britain since 1983. Its team of financial advisors assesses each client's financial condition and future expectations and determines financial and retirement plans and investment strategies that suit their goals. It also provides advice on budgeting, trust planning, and insurance. It conducts seminars on financial literacy and education. The firm's founder and senior advisor, Christopher W. Beale, and the other three advisors are 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
Google
5.0 / 5 (1)
Yelp
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
ol-advisors.com logo
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ol-advisors.com

74 Batterson Park Road, Suite 303, Farmington, CT 06032
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  • Certified Financial Planner (CFP)
  • Retirement Planning

Business Description

Since 1989, Ohanesian / Lecours (O/L) has been helping New Britain clients with their investments. This agency provides investment management intending to assist individuals in growing and preserving their assets. Its managers identify and evaluate risk-adjusted returns to minimize volatility while pursuing long-term growth. O/L provides retirement planning and wealth management solutions with market and asset alignment. In addition, its financial specialists help companies identify retirement plans for their employees as a part of their corporate benefits and organizational goals.

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
Pennell Wealth Advisors logo
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Pennell Wealth Advisors

200 Mountain Road Suite 2, Farmington, CT 06032
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  • Private Wealth Advisor

Business Description

Pennell Wealth Advisors is a financial advisory company that provides consultations on financial planning to individuals and families in New Britain. The company offers advice in investment planning, family/estate planning, and financial planning. The team of experts uses a 5-step approach that begins with an assessment of the client's current financial status. Then, followed by determining objectives, selecting asset locations, selecting investment options, and finally, measuring and rebalancing investments. The Founder, Lyle H. Pennell, has almost 20 years of experience in wealth management planning services.

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 (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
Responsiveness
Friendliness
Helpfulness
Detail
Securities America logo
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Securities America

231 Farmington Ave, Farmington, CT 06032
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  • Retirement Planning

Business Description

Securities America delivers financial advice for residents of New Britain. The firm offers retirement income planning and coaching services to individuals and businesses. It offers options such as mutual funds, variable annuities, life insurance, and ancillary products to prospective investors. Securities America opened in 1984. It employs over 3,000 personnel, serves 630,000 clients nationwide, and manages over $140 billion in assets. CEO and president Jim Nagengast was a former analyst for Merrill Lynch Capital Markets.

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
YHB Investment Advisors, Inc. logo
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YHB Investment Advisors, Inc.

29 South Main Street, Suite 306, West Hartford, CT 06107
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  • Estate and Trust Specialist
  • Private Wealth Advisor
  • Retirement Planning

Business Description

YHB Investment Advisors, Inc., provides services to clients in New Britain and the surrounding communities. The company specializes in helping individuals manage their finances to preserve and protect their wealth and investment. It also offers custody services involving cash management, administration of dividends, stock splits, and charges and commissions. In addition to individual services, the company serves non-profit organizations, municipalities, and institutions. YHB Investments Advisors has over 32 years of experience in the industry.

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 (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.
4.0
Responsiveness
Friendliness
Helpfulness
Detail
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Back to Providers

Frequently Asked Questions

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.

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.

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 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.

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.

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.

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 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.

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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