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Best Financial Advisors in Erie

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SmartAdvisor by SmartAsset logo
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SmartAdvisor by SmartAsset

Erie, PA
  • 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

Bishop & Company Investment Management, LLC logo
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Bishop & Company Investment Management, LLC

1250 Tower Lane Suite 101, Erie, PA 16505
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  • Chartered Financial Analyst (CFA)

Business Description

Bishop & Company Investment Management, LLC serves individuals and families in Erie and surrounding areas. It offers a variety of financial advisory services to help clients protect and grow their wealth. It develops asset management strategies according to the customers' needs and creates portfolios to assist them in accomplishing their long-term plans. The company also guides individuals in testing risk tolerance and preparing for their retirement. This registered investment advisor (RIA) firm was founded by Michael W. Bishop.

Reputation:

We scour the internet for reviews from well-known resources. Each provider is evaluated based on the quality and quantity of their reviews, their presence on multiple review sites, and their average minimum rating.
5.0
Google
5.0 / 5 (2)

Professionalism:

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

900 State Street Suite 103, Erie, PA 16501
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  • Chartered Financial Analyst (CFA)

Business Description

Evident Financial provides financial planning and investment management in the Erie metro and the surrounding areas. The firm works toward its clients' benefit, which includes planning for the unexpected, keeping more of what they earn, minimizing expenses and taxes, and protecting their assets for future generations. Additionally, in partnership with Vestwell, it streamlines the 401(k) experience for employers and employees. David Cullen, the founder and CEO, has more than 40 years of wealth and investment management experience.

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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Detail
Freedom Investment Management Group logo
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Freedom Investment Management Group

100 State St. Suite 420, Erie, PA 16507
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  • Certified Financial Planner (CFP)
  • Private Wealth Advisor
  • Investment Management
  • Financial Planning

Business Description

Freedom Investment Management Group (FIMG) offers personalized and comprehensive financial planning in the Erie metro. As fiduciary for their clients, the firm is able to keep their interests at the forefront, serving as their personal wealth coach and coordinating with other professionals that its clients already work with. Robert D. Maring and Dave L. Close's rapport led to the establishment of FIMG in 2015. Together, they work as managing directors, drawing on a combined industry experience of more than 50 years.

Reputation:

We scour the internet for reviews from well-known resources. Each provider is evaluated based on the quality and quantity of their reviews, their presence on multiple review sites, and their average minimum rating.
3.9
Facebook
3.9 / 5 (14)

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
HBKS Wealth Advisors Erie - Wright House logo
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HBKS Wealth Advisors Erie - Wright House

235 West 6th St, Erie, PA 16507
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  • Certified Financial Planner (CFP)
  • Financial Planning

Business Description

HBKS Wealth Advisors Erie - Wright House has been providing financial planning, retirement planning, and investment management services since 2001. Committed to assisting individuals to achieve their financial objectives, the firm's advisors work with them in crafting comprehensive plans. They also integrate their tax and estate planning into their financial plans. Some of the firm's senior financial advisors have earned their Certified Financial Planner designations. Among them is Ryan Furtwangler, who is also a member of the Financial Planning Association.

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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Detail
I.M.S. Wealth Management, LLC logo
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I.M.S. Wealth Management, LLC

359 West 26th Street, Erie, PA 16508
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  • Estate Planning
  • Business Formation

Business Description

I.M.S. Wealth Management, LLC offers financial advising services to individuals and corporate clients in Erie. It helps clients achieve their financial goals by developing planning and investment strategies. It assists clients in different investment options, such as brokerage accounts, treasury bills, common stocks, and different types of IRA. It also provides guidance in various planning options, such as retirement plans, 401(k) or 403(b), money purchasing, and profit-sharing plans. Its managing principal, Jeffrey Presogna, is a certified valuation analyst and a certified public accountant.

Kress Financial Services logo
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Kress Financial Services

2201-2205 West Grandview Blvd., Erie, PA 16506
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  • Retirement Planning
  • Wealth Management

Business Description

Kress Financial Services has been serving clients in the Erie area for more than three decades, helping individuals and families reach their financial goals. Its wide array of services includes financial analysis, portfolio management, and retirement and business succession planning. Leading the team is Daniel G. Kress, a Chartered Financial Consultant and Certified Financial Planner who is a member of the National Association of Insurance and Financial Advisors. The firm is affiliated with Royal Alliance Associates, Inc.

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)
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
Magnus Wealth Management logo
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Magnus Wealth Management

2218 Deer Run Trail, Erie, PA 16509
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  • Finance Planning
  • Wealth Management

Business Description

Magnus Wealth Management provides financial planning services to individuals in Erie and the neighboring areas. This company focuses on assisting clients in pursuing their financial goals by helping them establish financial plans or strategies. Its team follows a financial planning process that involves initial meetings, personalized plan presentations, reviewing, implementation, and monitoring. Magnus Wealth Management works with Vicus Capital, Ash Brokerage, and Cetera Advisor Networks LLC to cater to the financial planning needs of clients.

Mosaic Wealth Consulting logo
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Mosaic Wealth Consulting

1787 West 26th Street, Erie, PA 16508
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  • Chartered Financial Analyst (CFA)

Business Description

Mosaic Wealth Consulting is an independent advisory firm that caters to the needs of clients in the Erie metro. It provides financial planning services to individuals, families, and businesses that include holistic review, retirement planning, and business planning. Its professionals design personalized strategies that may involve estates, investment, or social security. One of these professionals, David Estatico, has been in the financial planning industry for more than 30 years. Estatico is a designated Certified Fund Specialist.

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
Responsiveness
Friendliness
Helpfulness
Detail
One-Up Financial logo
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One-Up Financial

1001 State Street Suite 907, Erie, PA 16501
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  • Retirement Planning
  • Financial Planning
  • Tax Planning

Business Description

Erie-based One-Up Financial is a fiduciary firm that helps clients increase their income, lower their taxes, and make smarter investments. It offers two packages: the WealthBuilder, designed for professionals, executives, and business owners who are close to retirement and have most of their investments in a 401(k); and the WealthManager, for retirees. Eric Presogna, the company's founder and CEO, has been in the industry for over a decade. He is also a CPA and a CFP.

Stoner Financial Management logo
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Stoner Financial Management

410 Cranberry Street, Suite 340, Erie, PA 16507
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  • Certified Financial Planner (CFP)

Business Description

Based in Erie, Stoner Financial Management works with clients in implementing a financial plan to meet their goals. Its financial planning services include wealth accumulation, 401(k) rollovers, portfolio segmentation, withdrawal management, and long-term care review. The team takes the time to understand the client's objectives and their reasons. From there, they lay down suitable investment options while considering the client's risk tolerance to help in meeting their needs. The financial advisory firm is also a family business in its fifth decade.

Reputation:

We scour the internet for reviews from well-known resources. Each provider is evaluated based on the quality and quantity of their reviews, their presence on multiple review sites, and their average minimum rating.
5.0
Google
5.0 / 5 (2)

Professionalism:

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

1946 West 26th Street, Erie, PA 16508
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  • Certified Financial Planner (CFP)

Business Description

West Advisory Group is a financial services firm with offices in Erie and Pittsburgh. Its team of financial consultants develops income plans for clients, with an aim to help them achieve their financial goals. They also develop investment strategies, taking into account possible financial avenues, clients' upcoming expenses, and their short-term and long-term financial goals. Risk management and legacy planning are West Advisory Group's other services. Its founder and senior financial strategist, Walter West, is committed to helping individuals become financially literate through financial plans.

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
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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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