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Best Financial Advisors in Suffolk

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SmartAdvisor by SmartAsset logo
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SmartAdvisor by SmartAsset

Suffolk, VA
  • Estate Planning
  • Investment Management
  • Financial Planning
  • 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)

Professionalism:

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4.0
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Price: Free consultation

CLP Financial Group Inc. logo
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CLP Financial Group Inc.

501 Independence Parkway Suite 350, Chesapeake, VA 23320
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  • Certified Financial Planner (CFP)

Business Description

CLP Financial Group, Inc., is an advisory firm that serves Suffolk. It focuses its services on assisting senior citizens and families in developing retirement plans. These plans use techniques like investment portfolio diversification, insurance saving strategies, and tax mitigation solutions to preserve a client's retirement assets. The company has been in business since 1990, starting as the Leonard Parson Agency. Company president Leonard Parson holds the Certified Financial Fiduciary designation from the National Association of Certified Financial Fiduciaries.

Reputation:

We scour the internet for reviews from well-known resources. Each provider is evaluated based on the quality and quantity of their reviews, their presence on multiple review sites, and their average minimum rating.
3.8
Google
4.2 / 5 (16)
Yelp
1.0 / 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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Davenport logo
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Davenport

330 West Constance Road Suite 200, Suffolk, VA 23434
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  • Certified Financial Planner (CFP)

Business Description

Located in Suffolk, Davenport is a group of financial advisors who help families and institutions build their wealth. Originally founded in 1863, it offers a variety of services, including managed money, equity research, brokerage, and corporate retirement planning. With over 400 associates and 180 financial advisors, Davenport has received multiple commendations for its leadership and industry contributions. Its recognitions include Business North Carolina Magazine's Best Employers in North Carolina and Top Workplace by Richmond Times Dispatch.

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 (13)

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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Envision Wealth Management logo
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Envision Wealth Management

1 Columbus CTR, #800, Virginia Beach, VA 23462
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  • Retirement Planning
  • Investment Management

Business Description

Envision Wealth Management is a firm that serves Suffolk. It provides a range of customized services through its 9-step Envision Planning Process, which involves comprehensive business owner planning and advice, capital and investment management, and financial and retirement planning. It also offers various retirement plans, including 401(k)s and ESOPs. It assesses its clients’ financial situation and uses the gathered data to develop plans and deal with estate planning, retirement income strategies, and long-term care.

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 (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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Financial Security logo
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Financial Security

575 Lynnhaven Parkway, Suite 310, Virginia Beach, VA 23452
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  • Certified Financial Planner (CFP)

Business Description

Financial Security has been serving clients in Suffolk and the surrounding areas since 1997. Its financial planners and investment advisors help clients achieve financial independence. The firm provides an array of financial planning services that include cash flow management, wealth accumulation strategies, risk management, and estate and tax planning. Its financial advisors develop customized strategies that integrate the financial and psychological factors that affect the lives of clients. It offers securities through Financial Security Management, 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 (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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First Financial Group logo
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First Financial Group

5544 Greenwich Rd. Suite 303, Virginia Beach, VA 23462
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  • Retirement Planning

Business Description

First Financial Group is a full-service financial company that serves clients in Suffolk. Individuals and businesses can benefit from the firm's wide range of financial management services. Investment management, college funding, insurance planning, retirement planning, and estate planning are among the services provided by its financial advisors. The team also handles risk management and business succession planning. The independent insurance company has been serving clients for over 40 years. It collaborates with more than 150 representatives and 2,500 financial brokers.

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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Detail
Freedom Street Partners logo
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Freedom Street Partners

1889 Governor’s Pointe Drive, Suffolk, VA 23436
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  • Certified Financial Planner (CFP)

Business Description

Freedom Street Partners serves the financial planning needs of individuals and families in and around Suffolk. Its financial advisors offer a broad range of solutions, such as retirement planning, multigenerational wealth transfer, and investment management. Additionally, the firm helps clients build legacies through trust and estate planning services. The company's CEO, Scott Danner, holds the designation of Accredited Asset Management Specialist through the College for Financial Planning. He was also included in Forbes' list of Best in State Wealth Advisors for 2021.

Reputation:

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

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
Great Circle Wealth Strategies logo
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Great Circle Wealth Strategies

3216 Harvesttime Crescent, Chesapeake, VA 23321
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  • Financial Planning

Business Description

Great Circle Wealth Strategies provides residents of Suffolk with the expertise of financial advisors who help create and preserve wealth, formulate retirement funding strategies, and assist in estate distribution and conservation. They help minimize and manage risk and guide clients on how to make their investments and savings work for them. President and founder Roland Martin is a Certified Financial Planner who has been helping people attain financial security for over 30 years. He is also an Accredited Wealth Management Advisor.

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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Heritage Wealth Management Group logo
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Heritage Wealth Management Group

733 Boush Street, Suite 100, Norfolk, VA 23510
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  • Estate Planning
  • Certified Financial Planner (CFP)
  • Retirement Planning
  • Investment Management
  • Financial Planning

Business Description

Heritage Wealth Management Group caters to clients in Suffolk who wish to plan their future and current finances. It specializes in wealth management services to assist individuals in meeting their financial goals. Its team also understands clients' needs by discovering their concerns, determining suitable strategies, implementing plans, monitoring outcomes, and evaluating results. This company is also available for estate planning, employee benefits optimization, and household budgeting services. Its president, Peter H. Bryan, has been providing financial services to clients since 1989.

Hook Law Center logo
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Hook Law Center

295 Bendix Road, Suite 170, Virginia Beach, VA 23452
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  • Finance Planning
  • Certified Financial Planner (CFP)
  • Retirement Planning
  • Tax Preparation
  • Tax Planning

Business Description

Hook Law Center is an investment advisory firm serving clients in Suffolk. It caters to seniors and disabled individuals and their families, guiding them in navigating the legal process and creating individualized plans to secure their futures. The company offers investment advice, helping clients develop their financial objectives and goals and update their investment objectives. Its financial planners also handle long-term, life care, estate, and business succession planning. The company serves as a member of the NAELA and SNA.

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
Facebook
3.9 / 5 (19)

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
Joss Brown Wealth Advisors logo
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Joss Brown Wealth Advisors

1321 Jamestown Road, Suite 104, Williamsburg, VA 23185
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  • Certified Financial Planner (CFP)

Business Description

Joss Brown Wealth Advisors is a team of fiduciaries that offers services to clients in various locations, including Suffolk. The company's primary goal is to assist clients in achieving theirs by providing planning services for financial goals, retirement, risk management and insurance, investment, tax, and real estate. It also offers corporate and non-profit solutions for endowments, retirement plans, and non-profit investment portfolios. Co-founder Daniel D. Joss is a CFP. He received the Kinder Institute of Life Planning's Registered Life Planning accreditation in 2009.

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
Responsiveness
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Detail
Korving & Company logo
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Korving & Company

1510 Breezeport Way #800, Suffolk, VA 23435
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  • Certified Financial Planner (CFP)

Business Description

Korving & Company is a financial planning firm serving retirees, families, and individuals residing in Suffolk and nearby areas. The firm's financial planning team guide, empower, and work alongside clients to help them attain their own unique goal of financial security. Its financial planning services include planning for retirement, college fund, and estate and succession. Korving & Company also helps in developing dynamic investment portfolios, regularly evaluating and adjusting asset allocations to anticipate and adapt to market and economic conditions.

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.
4.6
Facebook
4.6 / 5 (5)
Google
4.5 / 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
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Detail
Mason logo
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Mason

11827 Canon Boulevard, Suite 204, Newport News, VA 23606
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  • Certified Financial Planner (CFP)

Business Description

Established in 2003, Mason is an independent financial planning firm that serves clients in Suffolk and the surrounding areas. It comprises financial planners who assist clients in financial planning that involves the conception, implementation, and ongoing maintenance of the financial plan. They collaborate closely with clients so that the financial strategy meets unique goals, circumstances, and priorities. With the guidance of an estate attorney, the firm’s financial planning team also helps in the formulation, execution, and ongoing management of an estate plan.

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.
4.2
Google
4.0 / 5 (35)
Facebook
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
Nansemond River Financial Services logo
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Nansemond River Financial Services

204 Military Road, Suffolk, VA 23434
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  • Financial Planning

Business Description

The Nansemond River Financial Services provides financial, investment, and insurance planning services to individuals and families in Suffolk. It works with them in crafting plans and strategies that allow them to secure their financial needs. The firm also offers risk management and business succession planning services to business owners. Sole advisor Mark U. McGahee, who has more than three decades of industry experience, is a Certified Financial Planner. He also serves as a contributing financial columnist to The Suffolk News-Herald.

Wealth Avenue logo
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Wealth Avenue

4317 Bonney Rd, Virginia Beach, VA 23452
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  • Estate Planning
  • Retirement Planning
  • Financial Planning

Business Description

Wealth Avenue is a financial advisory firm that serves professionals and individuals in the Suffolk metro and the surrounding areas. It offers a wide range of services, including financial and business, retirement, income tax, and estate planning. Its team helps its clients in establishing their financial goals, analyzing their financial status, discussing investment risks, and developing alternatives. Xerxes Nabong, the co-founder of the company, is a Certified Financial Planner who started his career in financial services in 2005.

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
Responsiveness
Friendliness
Helpfulness
Detail
Wealthway Financial Advisors logo
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Wealthway Financial Advisors

440 Monticello Ave., Ste. 1620, Norfolk, VA 23510
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  • Estate Planning
  • Certified Financial Planner (CFP)
  • Retirement Planning
  • Investment Management
  • Financial Planning

Business Description

Wealthway Financial Advisors is a financial planning firm serving Suffolk. Its comprehensive services include accumulation and estate planning, insurance analysis, investment management, and retirement design. It assists clients in navigating the processes of reviewing clients’ financial data to establish their needs, advising on investment strategies, constructing portfolios tailored to goals, and conducting ongoing plan reviews. Company president Kevin J. Zywna is a member of the Financial Planning Association of Hampton Roads and hosts the radio show “Dollars and Common Sense.”

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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