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Best Financial Advisors in Durham

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SmartAdvisor by SmartAsset logo
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SmartAdvisor by SmartAsset

Durham, NC
  • 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
Yelp
4.0 / 5 (4)

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4.0
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Price: Free consultation

Abundant Life Group logo
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License Verified:

License: 5151262

Investment Adviser Public Disclosure Database, SEC

Abundant Life Group

5540 Centerview Dr Ste 418, Raleigh, NC 27606
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  • Certified Financial Planner (CFP)

Business Description

Abundant Life Group provides financial advice to residents of Durham and the neighboring communities. Its team of financial advisors creates personalized strategies, including a 3D secure income distribution plan, developing a wealth cycle investment, and risk management accounting to reduce the client's worries about the future. It also helps clients with wealth management, estate planning, and trusts. Customers considering investments may opt for guidance in mutual funds, managed accounts, brokerage, and interval funds. Other offerings from the company include health and disability income insurance.

License Verified:

License: 5151262

Investment Adviser Public Disclosure Database, SEC

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
4.8 / 5 (29)

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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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Adams Chetwood Wealth Management Group logo
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Adams Chetwood Wealth Management Group

3917 University Drive, Durham, NC 27707
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  • Certified Financial Planner (CFP)

Business Description

Adams Chetwood Wealth Management Group is an independent investment advisory firm that caters to clients in Durham and its neighboring metros. It offers investment management and financial planning options such as estate investment planning, retirement planning, education planning, and insurance analysis. In addition, its team of professionals provides individual 401(k) monitoring and advice services, including retirement plan structure analysis, 401(k) allocation customization, and annual financial checkups. Adams Chetwood Wealth Management Group was established in 2015.

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 (5)
Facebook
5.0 / 5 (1)

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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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Bryant & Brannock logo
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License Verified:

License: 148254

Investment Adviser Public Disclosure Database, SEC

Bryant & Brannock

5315 Highgate Drive, Suite 105, Durham, NC 27713
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  • Certified Financial Planner (CFP)

Business Description

Bryant & Brannock develops financial plans and investment strategies for individuals and families in Durham. It also assists with insurance matters. By holding ongoing discussions, its agents are familiarized with clients' distinct circumstances—their incomes, assets, debts, and liabilities—and are thus able to identify risks and opportunities and devise solutions accordingly. Bill Bryant and Mike Brannock, who formed the company in 2016, have worked together for over a decade. Bryant has 20 years of industry experience and is a Certified Financial Planner and Chartered Retirement Plans Specialist.

License Verified:

License: 148254

Investment Adviser Public Disclosure Database, SEC

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
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Ebner Financial Group logo
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License Verified:

License: 158781

Investment Adviser Public Disclosure Database, SEC

Ebner Financial Group

Raleigh, NC 27513
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  • Certified Financial Planner (CFP)

Business Description

Ebner Financial Group is an advisory firm serving Durham. The firm performs a wide range of financial and wealth management solutions from retirement planning and education to investment and insurance product guidance. Led by founder Doug Ebner, its financial advisors help clients with assessing investment tolerance and guide small businesses with 401k benefits planning. Ebner has been in the financial services industry for 25 years. He is a member of the Million Dollar Round Table.

License Verified:

License: 158781

Investment Adviser Public Disclosure Database, SEC

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.
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Erickson logo
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Erickson

3001 Academy Road, Durham, NC 27707
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  • Certified Financial Planner (CFP)
  • Tax Planning

Business Description

Established in 1991, Erickson is a financial advisory firm that helps Durham clients to secure their financial future. The firm analyzes the client’s financial picture and their goals in building an investment framework. It also offers fiduciary financial planning for both short-term and long-term goals. In addition, the firm’s asset management utilizes investment strategies to manage the client’s portfolio, including analytic tools and risk budgeting analysis. The family-owned firm also has a specialized team that minimizes obstructions to a client’s wealth transfer.

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We hire mystery shoppers to call our providers anonymously and evaluate them. Providers who respond quickly, answer questions thoroughly, and communicate politely score higher.
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Fortitude Financial Planning logo
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License Verified:

License: 309750

Investment Adviser Public Disclosure Database, SEC

Fortitude Financial Planning

Durham, NC 27701
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  • Certified Financial Planner (CFP)
  • Retirement Planning
  • Tax Planning

Business Description

Fortitude Financial Planning is an investment advisory firm operating in Durham. It guides young professionals through ongoing financial planning, tax preparation, and investment management which include investment recommendations, a secure financial site, and regular meetings. For clients who are looking for a one-time engagement or second opinion, the firm assists with tax planning, home affordability, and employee benefits review. Its founder, Travis Tracy, is a Certified Financial Planner and an Enrolled Agent who has been working in the industry for seven years.

License Verified:

License: 309750

Investment Adviser Public Disclosure Database, SEC

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.
4.3
Facebook
4.5 / 5 (57)

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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Fulbright Financial Consulting, PA logo
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Fulbright Financial Consulting, PA

5302 North Carolina 55, Durham, NC 27713
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  • Tax Planning

Business Description

Fulbright Financial Consulting, PA, has been serving individuals and business owners in the community of Durham and the surrounding areas since 1986. The financial firm provides a wide range of services, such as educational funding, retirement planning, cash flow management, business planning, employee benefits planning, and risk management services. Its financial advisors have a collective industry experience of more than 40 years. The firm's founder and owner, Edward D. Fulbright, holds a personal financial specialist 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

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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Gordon Asset Management, LLC logo
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Gordon Asset Management, LLC

4721 Emperor Boulevard, Durham, NC 27703
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  • Certified Financial Planner (CFP)
  • Retirement Planning
  • Business Tax Preparation
  • Business Formation

Business Description

Gordon Asset Management was founded in 2001 to serve clients in Durham. The firm offers a range of solutions, including financial planning and asset management. In addition, it also helps business owners with tax minimization strategies, business transitions, and retirement benefits. Gordon Asset Management uses a web-based tool where people can access their finances and track their account performance. Founder Joe Gordon is a Certified Investment Management Analyst 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 (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
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Hamilton Point logo
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License Verified:

License: 144534

Investment Adviser Public Disclosure Database, SEC

Hamilton Point

100 Europa Dr. Suite 425, Chapel Hill, NC 27517
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  • Certified Financial Planner (CFP)

Business Description

Hamilton Point is a financial advisory firm serving Durham and the surrounding locations. Its team of investment professionals builds portfolios comprising individually acquired bonds and stocks. They also develop financial plans for clients looking to prepare for retirement. Additionally, they offer estate planning assistance. Hamilton Point oversees assets amounting to hundreds of millions. It is headed by Rick Woods, a Chartered Financial Analyst and Certified Private Wealth Advisor, who crafts wealth management plans for high-net-worth individuals.

License Verified:

License: 144534

Investment Adviser Public Disclosure Database, SEC

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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Hilltop Wealth Advisors logo
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License Verified:

License: CRD#283014

Investment Adviser Public Disclosure Database, SEC

Hilltop Wealth Advisors

6340 Quadrangle Dr. Suite 100, Chapel Hill, NC 27517
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  • Estate Planning

Business Description

Hilltop Wealth Advisors serves clients in and around the Durham metro. The Chapel Hill-based company provides personalized financial advice via a proactive approach to planning, which involves building an investment portfolio that fits clients' goals. Its team of financial experts collaborates with clients' other advisors to strategize and implement plans. It also offers retirement income and estate planning strategies. Hilltop Wealth Advisors is an independent firm that has been helping its clients weather financial crises and many other personal life events since 1989.

License Verified:

License: CRD#283014

Investment Adviser Public Disclosure Database, SEC

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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Kuhn Advisors, Inc. logo
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Kuhn Advisors, Inc.

3622 Lyckan Parkway, Durham, NC 27707
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  • Certified Financial Planner (CFP)

Business Description

Founded in 1993, Kuhn Advisors, Inc., is a financial and wealth management services company that serves clients in Durham and its surrounding areas. It offers a complete lineup of financial products and services, including financial and retirement planning, and investment management services. Mark Kuhn, the firm's founder, is a certified public accountant who worked as a director for public securities for the Duke Management Company. Kuhn Advisors has 28 years of experience in the financial services industry.

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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Luca Partners logo
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Luca Partners

240 Leigh Farm Road, Durham, NC 27707
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  • Estate Planning
  • Certified Financial Planner (CFP)
  • Retirement Planning

Business Description

Luca Partners is a financial planner serving clients in Durham. It provides a wide range of services, including financial planning, wealth management, investment management, and retirement planning for families and businesses. Financial advisors Jimbo Huckabee, Whit Newton, and Charles D. Irvin have merged their respective teams to form Luca Partners. The firm has more than 150 years of combined experience in the financial services industry. Luca Partners has been named after Italian mathematician Luca Pacioli, who has written about the Rule of 72.

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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Pinafore Wealth Counsel logo
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Pinafore Wealth Counsel

3622 Lyckan Parkway, Durham, NC 27707
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  • Certified Financial Planner (CFP)

Business Description

Pinafore Wealth Counsel provides customized strategies, total wealth planning, financial transition planning, and risk management. It is an investment advisory firm serving clients in Durham and the local areas. With 50 years of combined experience, the firm focuses on clients' best interests and works closely with them to develop customized solutions that are aligned with their financial goals. Pinafore Wealth Counsel was co-founded by Lisa M. Gabriel, who has been providing investments and financial planning services for over 30 years.

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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Premier Advisor Group LLC logo
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License Verified:

License: 1317643

Investment Adviser Public Disclosure Database, SEC

Premier Advisor Group LLC

4000 Westchase Blvd. Suite 300, Raleigh, NC 27607
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  • Certified Financial Planner (CFP)

Business Description

Premier Advisor Group LLC has been serving Durham and surrounding communities for over 15 years. The firm provides custom strategies to help each client reach their unique financial goals. It assesses clients' financial situations, reviews investment portfolios, and makes recommendations regarding education funding, estate planning, asset allocation, and tax strategies. It also assists clients in developing plans for charitable giving that maximizes their contributions while reducing taxes. The founder and president, Janet Ramsey, is a certified financial planner.

License Verified:

License: 1317643

Investment Adviser Public Disclosure Database, SEC

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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Southeast Financial Group logo
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Southeast Financial Group

7780 Brier Creek Parkway, Raleigh, NC 27617
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  • Estate Planning
  • Certified Financial Planner (CFP)

Business Description

Southeast Financial Group is a team of wealth planners, research analysts, and investment advisors serving Durham and the surrounding areas. It is an independent registered investment advisor with $110 million in assets under management. The firm's financial planning method involves goal analysis, budget management, and planning for significant life events. In addition, it also handles investment planning, legacy planning, and asset protection. Edward B. Secrest, a Certified Financial Planner, founded the company in 2001.

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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Stalwart Financial Planning logo
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Stalwart Financial Planning

2530 Meridian Parkway, Durham, NC 27713
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  • Estate Planning
  • Tax Planning

Business Description

Stalwart Financial Planning is a financial and wealth management services company that serves clients in Durham. It offers a wide array of financial planning and investment services, including tax management, estate planning, investment management, and retirement planning and projections. Isaac Allen, the firm's founder, started the company to provide clients financial planning and investment management services, regardless of their income or net worth. Stalwart Financial Planning is a member of the National Association of Personal Financial Advisors and the Garett Planning Network. 

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 (5)

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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The Jester Group logo
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License Verified:

License: 1751690

Investment Adviser Public Disclosure Database, SEC

The Jester Group

1414 Raleigh Rd, Suite 420, Chapel Hill, NC 27517
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  • Estate Planning
  • Certified Financial Planner (CFP)
  • Retirement Planning

Business Description

The Jester Group has been offering financial advice to individuals and families in Durham and its neighboring communities for over 30 years. It helps clients with financial planning, investing, risk assessment, and wealth management. It also advises them in matters relating to tax, insurance, charitable giving, and estate planning. Its founder, Gene Jester, is a former parish minister who found his calling in helping people manage their finances. He is a Certified Financial Planner, Chartered Retirement Plans Specialist, and Certified Private Wealth Advisor.

License Verified:

License: 1751690

Investment Adviser Public Disclosure Database, SEC

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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TIAA Financial Services logo
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TIAA Financial Services

5425 Page Road, Durham, NC 27703
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  • Retirement Planning

Business Description

TIAA Financial Services is a wealth management firm that serves Durham. It offers individual advisory services, helping clients prepare for various life goals, such as leaving a legacy, planning for retirement, or saving for college. TIAA Financial Services has been around for more than 100 years and has more than $1.3-trillion in assets under management. Additionally, the professionals from this company consider environmental, social, and governance factors in its investment research and decision-making.

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.
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Tucker Bria Wealth Strategies logo
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Tucker Bria Wealth Strategies

3100 Tower Boulevard, Durham, NC 27707
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  • Estate Planning
  • Certified Financial Planner (CFP)

Business Description

Tucker Bria Wealth Strategies is a financial advisory firm that assists Durham clients of all walks of life in becoming financially confident. Founded in 2013, the firm develops wealth advisory strategies for the client’s financial needs. It builds the client’s investment portfolio to accumulate wealth. The firm also minimizes financial risks through risk management. Moreover, it handles taxation to lessen tax liabilities. Estate planning and retirement planning are likewise available. The co-founder, James H. Tucker, is a Certified Financial Planner and a Chartered Retirement Plans Specialist.

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