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Best Financial Advisors in Waterford

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SmartAdvisor by SmartAsset logo
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SmartAdvisor by SmartAsset

Waterford, 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.

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
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Price: Free consultation

Blue Chip logo
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Blue Chip

38505 Country Club Drive Suite 150, Farmington Hills, MI 48331
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  • Retirement Planning

Business Description

Blue Chip is a financial advisory firm that serves the Waterford community. It helps nearly retired individuals and business owners achieve their desired financial outcomes by offering wealth and investment management solutions. The company also provides estate and tax planning strategies. Its founder, Robert K. Steinberg, is a certified public accountant, a Certified Financial Planner, and an estate planning attorney. He started his career working as a tax planner and advisor for a financial advisory firm.

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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Brass Ring Wealth Management logo
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Brass Ring Wealth Management

7300 Dixie Hwy Ste#800, Clarkston, MI 48346
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  • Certified Financial Planner (CFP)

Business Description

Brass Ring Wealth Management provides assistance and advice on various aspects of managing one's finances in Waterford. Its advisors assist clients to organize their funds in preparation for retirement, advising them on investments and tax issues. They also assist in transferring assets to beneficiaries and planning children's college education. Founder Nathan Sealey holds several designations like CFP, ChFC, CLU, and CASL. He received the Five Star Wealth Management Award from Hour Magazine and dbusiness Magazine in 2016.

Reputation:

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

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
Financial Freedom House logo
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Financial Freedom House

4139 West Walton Blvd, Suite D, Waterford, MI 48329
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  • Certified Financial Planner (CFP)

Business Description

Serving Waterford and its nearby areas, Financial Freedom House has provided fiduciary services since 1983. The company relies on evidence-based strategies, such as the Modern Portfolio Theory, to help clients make sound long-term investment decisions. The firm, which also offers 401 (k) and 403 (b) solutions, was founded by Theodore "Ted" Lakkides, an army veteran who spent many years climbing the corporate ladder - working for companies like Unilever and Arm & Hammer - before finding his calling as a financial planner.

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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Independent Financial Advisors, LLC logo
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Independent Financial Advisors, LLC

19575 Victor Parkway, Suite 210, Livonia, MI 48152
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  • Retirement Planning

Business Description

Independent Financial Advisors, LLC, serves clients in Waterford and the surrounding communities. The firm offers comprehensive financial planning solutions, which include cash flow income analysis, education savings strategies, Social Security planning, life insurance analysis and review, and financial organization and oversight. It also offers guidance in areas of wealth management like portfolio construction and monitoring, tax-sensitive investments, and specialized portfolio research. President David Kelton brings more than 33 years of financial industry experience to the firm and its clients.

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 (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
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Detail
Kaydan Wealth Management logo
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Kaydan Wealth Management

2701 Cambridge Court Suite 412, Auburn Hills, MI 48326
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  • Certified Financial Planner (CFP)

Business Description

Kaydan Wealth Management is an independent financial advisory firm serving the Waterford metro and nearby areas. The firm performs wealth management solutions to clients that are looking to build financial foundations, accumulate and enhance wealth, and preserve family legacies. Its financial advisors guide in managing investments, transferring wealth, and planning finances, tax, and retirement. Kaydan Wealth Management has been a fiduciary for more than 30 years. It gives back to the community through its Annual Community Shred initiative.

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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  • Certified Financial Planner (CFP)

Business Description

Michigan Financial Companies serves a wide range of clients in the Waterford metro, including business owners, young professionals, mature families, retirees, young families, and pre-retirees. For over 30 years, the firm has been providing various services, such as developing financial strategies, creating long-term financial plans, fine-tuning retirement strategies, protecting business revenue, and developing estate plans. Its team of financial advisors also offers personalized financial planning, including asset allocation recommendations. CEO Nick J. Valenti has 40 years of 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

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
Midwest Financial Advisors Group logo
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Midwest Financial Advisors Group

40900 Woodward Avenue, Suite 330, Bloomfield Hills, MI 48304
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  • Certified Financial Planner (CFP)

Business Description

Midwest Financial Advisors Group has been in business for over 30 years. The company serves individuals and families in and around Waterford. Its advisors provide a tailored retirement strategy that presents consistent and long-term financial capability. They analyze clients’ retirement income sources, including pensions, social security benefits, and investments in making recommendations. Its team members also coordinate with their clients’ CPA to decrease tax liability. The financial planning firm also assists with multi-generational planning and charitable giving strategies.

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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Northern Financial Advisors logo
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Northern Financial Advisors

74 E. Long Lake Rd Suite 200, Bloomfield Hills, MI 48304
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  • Certified Financial Planner (CFP)

Business Description

Northern Financial Advisors is a Registered Investment Advisor firm that caters to the financial advice needs of clients in Waterford and its surrounding areas. Its team of financial advisors guides clients in all areas of wealth management, investment planning, retirement planning, estate planning, and protection planning. Value-added services like cash flow management and continuous integration of a client's tax situation are also available. Founding owner Christine Isham maintains her status as an IRS Enrolled Agent and Certified Financial Planner.

Reputation:

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

4118 S Shore St, Waterford Twp, MI 48328
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  • Certified Financial Planner (CFP)
  • Estate and Trust Specialist
  • Retirement Planning
  • Tax Preparation
  • Tax Planning

Business Description

Patterson Advisors offers financial planning to the locals of Waterford and the surrounding areas. The firm's focus is to help its clients align their finances with their goals, taking the time to build a relationship with them as the foundation of all planning. The comprehensive financial services it offers include insurance and investment analysis, retirement or transition planning, estate planning, tax planning, and education funding. The founder, David C. Patterson, is a Certified Financial Planner.

Retire Mitten logo
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Retire Mitten

522 N Main St, Milford, MI 48381
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  • Certified Financial Planner (CFP)

Business Description

Retire Mitten offers risk management services to families, individuals, and business owners in the Waterford metro. It provides comprehensive retirement planning solutions, which include cash flow investment strategy creation. The company also reviews clients' investment portfolios to determine whether they are on the right track. In addition, it deals with matters related to tax ramifications. Retire Mitten's founder and CEO, Bryan Haggard, is a Certified Financial Planner and a 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
Facebook
5.0 / 5 (6)
Google
5.0 / 5 (3)

Professionalism:

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

5280 Dixie Highway, Waterford, MI 48329
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  • Private Wealth Advisor
  • Retirement Planning

Business Description

For 31 years, Staub Financial has been helping clients and their families in Waterford and the surrounding areas to understand their financial purposes. Its financial planning process includes implementing a strategy based on its clients' financial situation and the advice of various professionals, such as estate planning attorneys and CPAs. Owner and senior advisor Corey A. Staub regularly reviews clients' portfolios to check if the policies meet their goals. In addition, Staub supports various causes, including children with cancer, through Camp Quality of Michigan.

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)
Total Financial Guide Advisors logo
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Total Financial Guide Advisors

3121 University Drive Suite 100, Auburn Hills, MI 48326
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  • Certified Financial Planner (CFP)

Business Description

Total Financial Guide Advisors is a company that serves the Waterford community. Its financial advisors offer a full range of life planning and financial solutions, including wealth management, tax services, portfolio design and analysis, and risk management. Its team conducts personal interviews with clients to learn about their values and goals, which are then incorporated into wealth-building strategies. The company is a member of the Financial Industry Regulatory Authority. Rebecca Carpenter, the firm's support advisor, is a Certified Financial Planner.

Reputation:

We scour the internet for reviews from well-known resources. Each provider is evaluated based on the quality and quantity of their reviews, their presence on multiple review sites, and their average minimum rating.
5.0
Facebook
5.0 / 5 (15)

Professionalism:

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

Frequently Asked Questions

Introduction

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

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

Are financial advisors worth it?

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

What does a financial advisor do?

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

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

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

What does a financial coach do?

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

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

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

How do I know if my financial advisor is trustworthy?

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

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

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

Are financial advisor fees tax deductible?

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

What is a financial consultant?

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

What is a robo-advisor?

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

What makes someone a fiduciary?

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

How often should I meet with my financial advisor?

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

Should your financial advisor be a fiduciary?

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

Can my financial planner help with taxes?

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

Do I need a financial advisor?

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

How do financial advisors get paid?

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

What experience should I look for in a financial advisor?

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

How much does a financial advisor cost?

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

Should I hire a financial advisor before buying a house?

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

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

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

Do banks offer financial advisors?

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

Should I hire a wealth manager?

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

Is wealth management worth it?

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

How can you tell if a financial advisor is bad?

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

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

What do you need to be a financial advisor?

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

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

Where do financial advisors work?

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

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

How much do financial advisors make?

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

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