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Best Financial Advisors in Waterbury

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Barron Financial Group, LLP logo
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Barron Financial Group, LLP

103 Albert St., Torrington, CT 06790
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  • Certified Financial Planner (CFP)
  • Retirement Planning
  • Insurance Products

Business Description

Barron Financial Group, LLP, is a financial advisory company providing wealth management solutions to high-income or high-net-worth clients in Waterbury since 2006. The company offers financial solutions to individuals, executives, professionals, and business owners by providing portfolio management, advisory, and retirement plan services. It specializes in portfolio management and has developed its investment strategies and portfolio modeling and management software.

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 (7)
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.
5.0
Responsiveness
Friendliness
Helpfulness
Detail
Chadwick Financial Advisors logo
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Chadwick Financial Advisors

61 Maple Ave, Canton, CT 06019
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  • Certified Financial Planner (CFP)

Business Description

Established in 1994, Chadwick Financial Advisors is an investment advisory firm that serves individuals, families, and business owners nationwide. It offers financial planning services, which cover risk management, budgeting, education funding, and tax and estate planning. It also provides guidance for seniors saving for retirement and offers cash balance and pension management for business owners looking to create retirement plans. Chadwick Financial Advisors is owned by Michael Chadwick, a Chartered Life Underwriter, Chartered Financial Consultant, and Certified Financial Planner with nearly 30 years of experience.

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
4.5 / 5 (8)

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
Derek Mazzarella logo
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Derek Mazzarella

500 Winding Brook Drive, Glastonbury, CT 06033
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  • Certified Financial Planner (CFP)
  • Retirement Planning

Business Description

Derek Mazzarella is a financial advisor who operates a franchise of Gateway Financial Partners, serving clients in the Waterbury metro and the surrounding communities. He provides wealth management, financial planning, and retirement planning services focused on every client's wealth, health, and fulfillment. He also guides them in creating plans that allow them to achieve their financial goals. Mazzarella, who has been in the industry since 2009, has earned his Certified Financial Planner designation. He has also received Five Star Wealth Professional awards.

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
Gottfried & Somberg Wealth Management, LLC logo
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Gottfried & Somberg Wealth Management, LLC

340 Hebron Avenue, Glastonbury, CT 06033
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  • Retirement Planning

Business Description

The Gottfried & Somberg Wealth Management, LLC, is an investment and financial services firm that serves families, investors, retirees, and business owners in the Waterbury metro. Through counseling, the firm guides clients in achieving their financial goals, which include the preservation of their assets. Its founder, Joshua Gottfried, has earned the Certified Financial Planner and Accredited Investment Fiduciary designations. He was also recognized by Forbes in its Best-in-State Wealth Advisors List. His retirement planning insights have been cited in The New York Times.

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)
Ion Investments logo
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Ion Investments

1430 New Haven Road, Naugatuck, CT 06770
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  • Certified Financial Planner (CFP)

Business Description

Ion Investments is a financial advisory firm that serves clients in Waterbury. Its financial advisors provide services including retirement planning, asset and risk management, estate conservation, and business succession planning. It also offers insurance policies, long-term care plans, and annuities. The company serves thousands of families, businesses, and organizations through Infinex Investments. Jason Apruzzese, the company's senior vice president, has 14 years of experience in wealth management. He is a certified retirement counselor by The Corporation for Social Security Claiming Strategies.

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)
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
Lighthouse Financial, LLC logo
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Lighthouse Financial, LLC

213 E Main St, Meriden, CT 06450
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  • Certified Financial Planner (CFP)

Business Description

Lighthouse Financial, LLC, is a financial planning firm serving the residents of Waterbury and the surrounding areas. It provides personalized financial counsel and investment management to clients by organizing their financial lives. Also assisting in portfolio management, the firm sets long-term financial objectives with its clients and strategizes plans to help them enhance their quality of life within their risk tolerance. In addition, the firm deals with matters such as profit sharing planning.

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
––
Lincoln Financial Group logo
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Lincoln Financial Group

135 High St., Hartford, CT 06103
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  • Insurance Products
  • Retirement Planning
  • Financial Planning

Business Description

Since its founding in 1905, Lincoln Financial Group has provided advice and solutions to help clients in Waterbury and neighboring areas achieve financial security. Its team of financial advisors assists in developing financial plans that involve saving for retirement, family protection, and education funding. They also help clients select life insurance plans and annuities suited for their goals. The firm has been named Top Three Best Employer for Diversity for the third consecutive year in the Forbes’ 2020 list.

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.
4.2
Facebook
4.1 / 5 (237)

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
––
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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  • Private Wealth Advisor
  • Retirement Planning

Business Description

Medallion Wealth Advisors LLC is a full-service financial firm that serves clients in Waterbury and the surrounding areas. Its advisors act as partners with their clients to better understand their financial concerns and develop a customized program that can help them attain their financial goals. They also advise clients concerning appropriate investments according to changing situations and needs. One of its investment advisor representatives, Matthew Woods Weber, is also a Certified Financial Planner and an insurance professional.

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
Mercer Advisors logo
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Mercer Advisors

15 North Main Street Suite 100, West Hartford, CT 06107
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  • Certified Financial Planner (CFP)

Business Description

Mercer Advisors serves individuals and families in Waterbury in planning their finances. It delivers holistic financial solutions by advising clients about their investment venture, tax preparation, insurance solution, estate planning, and corporate trustee. Its advisors also offer budget optimization strategies for managing cash flow and 529 plans for arranging children's college expenses. In addition, they offer counsel on non-profits and charitable giving. Mercer Advisors received the 2020 Best Private Wealth Manager for Client Service recognition from the Private Asset Management Awards.

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
Real Financial Planning, LLC logo
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Real Financial Planning, LLC

705 Boston Post Road, Guilford, CT 06437
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  • Certified Financial Planner (CFP)

Business Description

Real Financial Planning, LLC, provides its services to clients in Waterbury and the surrounding areas. Through comprehensive financial planning, the advisory firm helps clients manage their finances for retirement based on their unique goals and needs. This covers pension and legacy plans, retirement plans, taxable accounts, social security, and anticipated expenses. In addition, Real Financial Planning assists people in managing their investments and portfolios. The company's financial professional, Sally Kennedy, holds both CFP and RIA designations.

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)
Sullivan Financial Advisors logo
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Sullivan Financial Advisors

15A Main St. P.O. Box 557, Essex, CT 06426
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  • Certified Financial Planner (CFP)
  • Private Wealth Advisor
  • Retirement Planning

Business Description

Sullivan Financial Advisors is a team of professionals who provide holistic strategies in asset management and financial planning. Serving Waterbury residents, the team assists individuals and families in preparing for retirement and disability, managing investments and stock options, and structuring debts. These professionals, headed by principal Jane Sullivan, also guide business owners and institutions on the management of investment portfolios, planned giving strategies, and tax mitigation. Sullivan is a Certified Financial Planner (CFP) and the CFP Board Mentor.

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.
4.4

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
Toomey Investment Management, Inc logo
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Toomey Investment Management, Inc

420 Center St Fl 1, Wallingford, CT 06492
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  • Certified Financial Planner (CFP)

Business Description

Toomey Investment Management, Inc., is a financial planning firm that serves the residents of Waterbury and the surrounding areas. It assists clients with their financial situations through the LOOP approach, which integrates different areas of the financial world. The approach includes services such as financial planning, investment and insurance management, and tax preparation. President Brendan Toomey is a Certified Financial Planner and Registered Investment Adviser. Toomey Investment Management has been featured in Connecticut Magazine and Forbes Magazine.

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 (20)
Wolff Wealth Advisors logo
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Wolff Wealth Advisors

201 East Center Street, Suite 200, Manchester, CT 06040
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  • Certified Financial Planner (CFP)

Business Description

Wolff Wealth Advisors serves families and businesses in Waterbury and the nearby areas. The financial advisors help individuals in accumulating wealth, planning for retirement, pursuing life settlements, and transferring assets to the future generations. They also assist business owners in securing the continuation of their businesses, minimizing taxes, and creating benefit programs to attract and retain employees. Since 1954, the independently owned firm has been crafting individualized financial strategies for clients to preserve their wealth.

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.
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., is a firm serving the Waterbury area. Its advisors create a diverse portfolio tailored to each client's specific needs in order to help them reach their financial objectives. They assist clients in establishing clear priorities and realistic investing targets through a full discussion of the client's expectations, income needs, and risk tolerance. Third-party custody, trustee services, and philanthropic endowment are among the firm's other offerings. It was established by Paul Martel in 1989, which now has $1.8 billion assets under 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 (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

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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