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Best Financial Advisors in Livonia

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SmartAdvisor by SmartAsset logo
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SmartAdvisor by SmartAsset

Livonia, MI
  • 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.

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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
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4.0 / 5 (4)

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4.0
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Price: Free consultation

Autumn Financial Advisors, LLC logo
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Autumn Financial Advisors, LLC

340 N Main St Suite 207, Plymouth, MI 48170
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  • Estate Planning
  • Retirement Planning
  • Financial Planning

Business Description

Autumn Financial Advisors, LLC, serves clients in Livonia. It provides a wide range of financial planning solutions, including insurance analysis, retirement planning, Social Security optimization, and debt management. The company also offers recommendations for clients' estate plans. It deals with investment management and works to obtain good returns through a multi-strategy investment philosophy. The firm is managed by husband-and-wife team Erik Ringo and Brittany Goodwillie. Goodwillie is 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
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Center for Financial Planning, Inc. logo
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Center for Financial Planning, Inc.

24800 Denso Drive, Suite 300, Southfield, MI 48033
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  • Certified Financial Planner (CFP)

Business Description

Center for Financial Planning, Inc., is an investment advisory firm serving Livonia. It offers services focusing on divorce and financial planning as well as investment management. It assesses its clients’ financial picture to establish their needs and assists them in developing plans that align with their goals. It also monitors these plans to determine if changes are needed to improve performance. The company was listed as one of the 300 Top RIAs by Financial Times from 2015 to 2018.

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
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Financial & Portfolio Advisors, Ltd. logo
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Financial & Portfolio Advisors, Ltd.

15855 Farmington Rd., Livonia, MI 48154
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  • Certified Financial Planner (CFP)
  • Financial Planning

Business Description

Financial & Portfolio Advisors, Ltd., has been serving clients in the Livonia community for over 30 years. The firm aims to address the clients' financial issues through investment management services. These include using the asset accumulation strategy process, allowing individuals to manage their portfolios, and assisting them in getting through various economic situations. Its advisors understand the importance of allocating the clients' investment assets risk tolerance when developing a portfolio. The firm also offers retirement, tax, and estate planning solutions.

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
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MDJ Financial Services Inc logo
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MDJ Financial Services Inc

29100 Northwestern Highway Ste 120, Southfield, MI 48034
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  • Certified Financial Planner (CFP)

Business Description

MDJ Financial Services Inc. serves individuals, families, and businesses in and around Livonia. Its financial advisors assist clients in planning for their finances, helping them leverage assets like life and disability insurance to achieve their financial goals. They also advise business owners regarding employee benefits and retirement plans. The company also offers a proprietary estate planning service called the "Share Your Love Family Discussion Guide." Michael D. Johnson, one of the company's financial advisors, holds the Certified Financial Planner designation.

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
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Michigan Financial Companies logo
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Michigan Financial Companies

28411 Northwestern Highway Suite 1300, Southfield, MI 48034
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  • Financial Planning

Business Description

Michigan Financial Companies cater to young professionals, families, and retirees around Livonia. It follows a series of steps in helping clients with their financial planning concerns. From the identification of specific goals to the analysis of options to the implementation of strategies and solutions, the firm educates its clients every step of the way. It is led by Nick J. Valenti, a Certified Financial Planner and Chartered Financial Consultant, who has at least 40 years of experience in the insurance and financial services 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 (1)

Professionalism:

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5.0
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Michigan Retirement Advisors logo
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Michigan Retirement Advisors

3883 Telegraph Road, Suite 203, Bloomfield Hills, MI
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  • Certified Financial Planner (CFP)

Business Description

Michigan Retirement Advisors is a financial services company that caters to clients in Livonia. It provides investment planning services and conducts various activities like risk evaluation and performance analysis. The company also educates clients on tax minimization strategies and cash flow management. It assists individuals and companies through the process of designing retirement plans. Adam Weiner, one of the company's advisors, is a former divisional vice-president for the global insurance firm AIG. He served the U.S. military as a member of the Navy SEALs.

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)
Peak Wealth Management logo
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Peak Wealth Management

41011 Ann Arbor Road, Plymouth, MI 48170
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  • Certified Financial Planner (CFP)
  • Retirement Planning
  • Financial Planning

Business Description

Peak Wealth Management is an investment advisory services provider that offers guidance on retirement and financial matters. It educates clients from Livonia on sound financial planning practices via an approach it calls Blueprinting, which is a holistic assessment of a client's current situation, outlook, and goals. The company also employs its Peak Income 360, a strategy for retirement planning that replaces pension with multiple passive income streams. Founder Nick Hopwood, who devised these strategies, is a Certified Financial Planner who has managed over $235,000,000 in client portfolios.

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
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RFC Financial Planners logo
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RFC Financial Planners

5263 Plymouth Rd., Ann Arbor, MI 48105
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  • Estate Planning
  • Certified Financial Planner (CFP)
  • Retirement Planning
  • Financial Planning

Business Description

RFC Financial Planners works with clients in the Livonia metro. Its advisors help clients create personalized cash-flow plans that are geared towards achieving their specific targets. Each client is assessed according to spending habits and current financial standing. Risk management planning is also available to ensure sustainable financial growth. The company's list of financial services includes workplace planning for managing benefits, values-based investing, and tax planning. Michael Rautiola and Adam Finch also offer college and estate 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 (7)

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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Detail
Richard W. Paul & Associates, LLC logo
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Richard W. Paul & Associates, LLC

39555 Orchard Hill Place, Suite 100, Novi, MI 48375
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  • Estate Planning

Business Description

Richard W. Paul & Associates, LLC, is a family-owned and family-operated boutique firm that serves clients in Livonia. It offers personalized wealth management solutions to individuals, families, and businesses. The firm's financial advisors have 80 years of combined experience assisting clients in planning and implementing strategies designed to elevate assets and investments. They also handle retirement, life insurance, asset protection, wealth accumulation, and tax planning matters. The firm's president, Richard Paul, was recognized as a Financial Trendsetter by USA Today.

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.
4.9
Google
4.9 / 5 (33)
Facebook
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
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RWS Financial Group logo
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RWS Financial Group

15431 Middlebelt Rd, Livonia, MI 48154
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  • Finance Planning
  • Financial Planning

Business Description

Established in 1985, RWS Financial Group is a family-owned investment management and financial planning firm serving Livonia. It offers services for both individuals and businesses, including help with estate and tax planning, insurance, and retirement plans. It assists clients in building portfolios and advises them on potential risks to grow their wealth. It assesses aspects of its clients’ financial life and uses the data to create customized plans that match their needs. It also offers disability, life, and long-term care insurance.

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
1.0 / 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
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Savant Wealth Management logo
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Savant Wealth Management

218 S. Main Street Suite A, Plymouth, MI 48170
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  • Investment Management
  • Financial Planning

Business Description

Savant Wealth Management is a financial planning firm that serves individuals, families, and businesses from Livonia and the surrounding areas. Its services include comprehensive wealth management, investment management, and financial planning. It also offers estate planning and wealth transfer, tax advisory and preparation, and trust services. Founder Brent R. Brodeski has been working in the financial services industry for over three decades. He is a Certified Financial Planner, Certified Public Accountant, and Chartered Financial Analyst.

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
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Sequoia Financial Group logo
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Sequoia Financial Group

21420 Greater Mack Ave., St. Clair Shores, MI 48080
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  • Financial Planning

Business Description

Sequoia Financial Group offers guidance to clients in Livonia for achieving their wealth goals. Its agents spend time to know about their clients, helping identify their goals and plan steps on how to meet these objectives. They offer financial planning, estate or tax planning, asset management, and generational wealth management. In addition, the advisors review individuals' assets and income to determine ways to protect them. The agency was included in Barron's List of The Top 100 RIA Firms 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.
4.7
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
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Sigma Investment Counselors logo
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Sigma Investment Counselors

186 E. Main Street, Suite 200, Northville, MI 48167
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  • Estate Planning
  • Tax Planning
  • Retirement Planning

Business Description

Sigma Investment Counselors is a fiduciary financial planning firm that serves the Livonia area. Its team offers investment counseling for women, whether they are widowed, divorced, or retired. The financial advisors address concerns regarding losing a spouse's pension, balancing investments with partners, and securing retirement post-divorce. They also help small business owners reduce taxable income and navigate matters concerning asset planning, risk management, and wealth accumulation. Company CEO Robert Bilkie is a Chartered Financial Analyst (CFA) and a former regional director of the CFA Institute.

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
Google
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.
5.0
Responsiveness
Friendliness
Helpfulness
Detail
Telos Financial logo
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Telos Financial

409 Plymouth Rd, Suite 206, Plymouth, MI 48170
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  • Finance Planning

Business Description

Telos Financial is an independent office that caters to clients in Livonia. Its advisors are held at a fiduciary standard in planning needs-oriented solutions and recommending investment strategies for retirement, estate, and wealth planning. In addition, they participate in financial planning continuing education programs to learn the best way of helping their clients. Founder Dennis LaVoy is a Certified Financial Planner and Chartered Life Underwriter who has been serving individuals, families, and corporations in the industry since 2008.

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
Yelp
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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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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