Expertise.com

Best Financial Advisors in Cedar Rapids

Laurels
Laurels

We did the research for you!

Learn more
  • checkboxLicensing
  • checkboxUser Reviews
  • checkboxMystery Shopping Calls

Financial Advisors FAQs

Learn more
SmartAdvisor by SmartAsset logo
FEATURED
Free consultation

SmartAdvisor by SmartAsset

Cedar Rapids, IA
  • Estate Planning
  • Financial Planning
  • Investment Management
  • 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.

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.
4.0
Yelp
4.0 / 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
––

Price: Free consultation

Anderson Financial Services logo
Visit WebsiteWebsite

Anderson Financial Services

4840 North River Boulevard Northeast, Cedar Rapids, IA 52411
Visit WebsiteWebsite
  • Certified Financial Planner (CFP)
  • Tax Planning

Business Description

Anderson Financial Services is a Cedar Rapids wealth advisory company that provides financial planning services. The company has been serving individuals and corporations in the industry for over 25 years and has since been led by Scott Anderson, who is also an investment advisor representative for Royal Alliance Associates, Inc. Anderson Financial Services offers personal financial planning, business continuation planning, estate planning strategies, investment or asset allocation planning, and retirement and distribution planning. The company also provides fringe benefit planning and executive benefits 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.
5.0
Responsiveness
Friendliness
Helpfulness
Detail
Arnold & Mote Wealth Management logo
Visit WebsiteWebsite

Arnold & Mote Wealth Management

1202 Dina Court, Hiawatha, IA 52233
Visit WebsiteWebsite
  • Certified Financial Planner (CFP)

Business Description

Established in 2000, Arnold & Mote Wealth Management is a financial planning firm that caters to clients in and around Cedar Rapids. It offers retirement, estate, and long-term health care planning services. Its team also customizes financial plans, which include savings strategies, investments, tax planning, workplace benefit maximization, and insurance optimization. The firm's owner Quinn Arnold and its founders, Jean and Eric Mote, are Certified Financial Planners. Arnold is also a member of the National Association of Personal Financial Advisors.

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
Balanced Investment Company logo
Visit WebsiteWebsite

Balanced Investment Company

222 3rd Avenue Southeast, Cedar Rapids, IA 52401
Visit WebsiteWebsite
  • Estate Planning
  • Retirement Planning

Business Description

Balanced Investment Company is a business located in Cedar Rapids offering personalized services in financial planning and wealth building. It helps clients plan their finances by incorporating variables such as income, healthcare, taxes, pension, and investments. The firm's services also cover investment, retirement and estate planning, and risk management. Balanced Investment Company was founded by Suresh Basnet. Basnet served in state and local non-profits and received the 2008 Governor’s Volunteer Award.

Basepoint Wealth logo
Visit WebsiteWebsite

Basepoint Wealth

4144 Golf Street Northeast, Cedar Rapids, IA 52402
Visit WebsiteWebsite
  • Estate Planning
  • Certified Financial Planner (CFP)
  • Insurance Products
  • Tax Planning

Business Description

Basepoint Wealth is a financial advisory firm that serves the residents of Cedar Rapids and the surrounding areas. It helps clients transition into retirement, reduce their taxes, or work toward financial freedom. It offers services such as financial planning, estate planning, insurance planning, philanthropic planning, and retirement plan consulting. In addition, the firm provides investment management, tax and accounting management, business planning, and executive compensation services. The financial advisors of Basepoint Wealth operate exclusively as fiduciaries.

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 (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
Edge Investment Solutions logo
Visit WebsiteWebsite

Edge Investment Solutions

5020 Council Street Northeast, Cedar Rapids, IA 52402
Visit WebsiteWebsite

Business Description

Edge Investment Solutions provides assistance to clients in Cedar Rapids and the surrounding areas with their financial issues. The firm helps clients with financial and estate planning. It also extends its services to clients who have concerns regarding life, disability, and long-term care insurance. For clients who want to build their investment portfolio, the firm analyzes the best mutual funds to ensure sustainable income growth. Two of the firm's financial planners, Damon Walker and Russell Kizer, also serve as members of Dave Ramsey’s Smartvestor Council.

Financial Harmony Designs logo
Visit WebsiteWebsite

Financial Harmony Designs

136 40th Street Northeast, Cedar Rapids, IA 52402
Visit WebsiteWebsite
  • Estate Planning
  • Insurance Products

Business Description

Financial Harmony Designs helps clients in Cedar Rapids meet their financial goals. Its team caters to individuals who need assistance with their investments, such as mutual funds, common stock, simple IRA, government securities, and brokerage accounts. It also provides aid in matters relating to exchange-traded funds, bonds, fixed and variable annuities, and college savings account services. The primary financial consultant of the company, Bruce Western, is also a life and health insurance agent with more than 30 years of experience in the financial 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.
5.0
Responsiveness
Friendliness
Helpfulness
Detail
Jerry K. Ask Investment Services logo
Visit WebsiteWebsite

Jerry K. Ask Investment Services

4800 North River Boulevard Northeast, Cedar Rapids, IA 52411
Visit WebsiteWebsite
  • Certified Financial Planner (CFP)
  • Retirement Planning

Business Description

Jerry K. Ask Investment Services provides investment management services for clients in Cedar Rapids and the surrounding areas. This firm provides a wide array of financial planning services, including retirement income planning, portfolio management, tax reduction savings, business planning, and banking and lending solutions. Its financial advisors have over 125 years of combined experience in the industry. The firm is a recipient of numerous awards and was ranked among Forbes Best-in-State Wealth Advisors in 2021.

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
Securian Financial logo
Visit WebsiteWebsite

Securian Financial

711 2nd Avenue Southeast, Cedar Rapids, IA 52401
Visit WebsiteWebsite
  • Estate Planning
  • Retirement Planning

Business Description

Since 1985, Securian Financial has been serving individuals, families, and businesses throughout the Cedar Rapids area. The firm offers a wide range of services, including investment strategies, retirement planning, protection management, estate planning, and educational funding strategies. It also assists clients in charitable giving plans. For businesses, the firm provides business continuation strategies, exit and transition planning, and financial wellness programs. It strives to make positive changes in the community by supporting various organizations, including American Cancer Society, Iowa Donor Network, and Tanager Place.

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.
4.0
Responsiveness
Friendliness
Helpfulness
Detail
––
Strategic Financial Solutions logo
Visit WebsiteWebsite

Strategic Financial Solutions

200 2nd Avenue Southeast, Cedar Rapids, IA 52401
Visit WebsiteWebsite
  • Certified Financial Planner (CFP)

Business Description

Strategic Financial Solutions has been serving Cedar Rapids for more than 30 years. The firm is composed of financial advisors that offer financial planning and investment management services. It specializes in retirement planning and, depending on a client's needs, offers retirement plans that entail personalized investment and retirement strategies, education and estate planning, and risk management. The company's president, Larry Witzel, is a Certified Financial Planner, an Accredited Investment Fiduciary, and 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.
3.8
Google
3.8 / 5 (6)
The Financial Specialists logo
Visit WebsiteWebsite

The Financial Specialists

425 2nd Street Southeast, Cedar Rapids, IA 52401
Visit WebsiteWebsite
  • Estate Planning
  • Insurance Products

Business Description

The Financial Specialists is a Cedar Rapids-based wealth planning firm. It offers a wide range of services, including insurance planning, retirement planning, college planning, and short- and long-term investment planning. The firm also provides services for businesses, assisting clients with 401(k) plans, group life and disability insurance, group health insurance, IRA, and profit-sharing plans. David J. Funke, president and managing partner, has been in the financial services sector since 1986. The Financial Specialists team has over 100 years of collective industry 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.
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
United Iowa Financial logo
Visit WebsiteWebsite

United Iowa Financial

329 12th Avenue Southeast, Cedar Rapids, IA 52401
Visit WebsiteWebsite
  • Certified Financial Planner (CFP)

Business Description

United Iowa Financial is a Cedar Rapids financial advisory firm that focuses on women empowerment and financial education among its clientele. The firm helps individuals and families in investment and cash flow management, retirement planning, trust and estate planning, charitable gift planning, and long-term care planning. United Iowa Financial is led by Mark Law, who has more than two decades of experience in the industry, and four other partners who are all invested in their clients' future.

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)
World Trend Financial logo
Visit WebsiteWebsite

World Trend Financial

221 3rd Avenue Southeast, Cedar Rapids, IA 52401
Visit WebsiteWebsite
  • Certified Financial Planner (CFP)
  • Retirement Planning

Business Description

For more than 25 years, World Trend Financial has been serving individuals, families, and businesses throughout the Greater Cedar Rapids metro area. It helps clients protect their wealth and achieve their financial goals by assisting them with college fund planning, investment management, estate planning, debt management, and retirement planning. Tory Meiborg, the president of the firm, is a member of the Financial Industry Regulatory Authority and was recognized as a Corridor Business Journal 40 Under 40 Award winner.

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.

Read all FAQs