8 best financial advisors of June 2024
We evaluated a selection of the top financial advisory firms in the US, what they offer, and their pros and cons. Here are the top eight you should consider for financial advice.
Top financial advisor firms
Fidelity Investments
Fisher Investments
Facet
Vanguard
Mercer
Edward Jones
BlackRock
Charles Schwab
1. Fidelity Investments
Financial services:
Retirement planning
Cryptocurrency trading
Investment strategy
Fractional share guidance
Investing strategy:
Simple, entry-level investments with low risk and consistent returns.
Pros:
Low commission prices
Excellent mobile app
A wide selection of research is provided
Cons:
Limited investment options beyond the basics
| Aspect | Details |
|---|---|
| Assets Under Management | $4.5 trillion |
| Time in Business | Founded in 1946 |
| Fee Structure | Fee-only & fee-based |
| Fee | 0.05%-1.50% |
| Minimum Account Sizes | $50,000 |
2. Fisher Investments
Financial services:
Portfolio management
Financial planning
Retirement planning
Annuity evaluation
Investing strategy:
Personalized investment strategy development for experienced investors.
Pros:
Outstanding research available
Personally curated investment portfolios
Ongoing support from advisors
Cons:
High investment management fee
Minimum portfolio requirement of $500,000
No brokerage platform
| Aspect | Details |
|---|---|
| Assets Under Management | $236 billion |
| Time in Business | Founded in 1979 |
| Fee | 1.0%-1.50% |
| Fee Structure | Fee-only |
| Minimum Account Sizes | $200,000 |
3. Facet
Financial services:
Investing
Holistic financial planning
Insurance planning
Tax planning
Retirement planning
Investing strategy:
A personalized mix of diverse investing, smart risk-taking, and long-term planning.
Pros:
Fiduciary financial advisors
Broad-scope short and long-term investing options
No minimum investments required
Cons:
Fees are expensive for smaller portfolios
In-person meetings are not available
| Aspect | Details |
|---|---|
| Assets Under Management | $1 billion |
| Time in Business | Founded in 2016 |
| Fee | $2,400-$8,000 |
| Fee Structure | Fee-only |
| Minimum Account Sizes | No minimum |
4. Vanguard
Financial services:
Wealth management
Retirement planning
Investment services
Investing strategy:
Index sampling is used to track benchmark indexes without having to replicate holdings.
Pros:
Great educational resources
Easy mobile app navigation
Low-cost fund options
Cons:
High margins
Basic research tools available
| Aspect | Details |
|---|---|
| Assets Under Management | $7.7 trillion |
| Time in Business | Founded in 1975 |
| Fee | 0.03%-0.40% |
| Fee Structure | Fee-based |
| Minimum Account Sizes | $50,000 |
5. Mercer
Financial services:
Financial planning
Investment management
Retirement planning
Estate planning
Tax planning
Insurance solutions
Trustee services
Investing strategy:
Mercer takes a multifaceted approach to investment management that includes globally diverse portfolios, risk-adjusted returns, and research-based decisions.
Pros:
Personalized investment strategies
Familiar brand
Relatively low transaction fees
Cons:
Some products are sold commission-based
| Aspect | Details |
|---|---|
| Assets Under Management | $35 billion |
| Time in Business | Founded in 1985 |
| Fee | 1.10%-5.0% |
| Fee Structure | Fee-only |
| Minimum Account Sizes | $250,000 |
6. Edward Jones
Financial services:
Financial planning
Basic investment strategy
Insurance
Investing strategy:
Maintain a long-term perspective, focus on quality, and manage risk through diversification.
Pros:
Excellent customer service
Simple layout and fee structure
Relatively affordable rates
Cons:
Limited website functionality
There is a limited variety of advisors to choose from
| Aspect | Details |
|---|---|
| Assets Under Management | $1.8 trillion |
| Time in Business | Founded in 1922 |
| Fee | 0.75%-5.75% |
| Fee Structure | Fee-based |
| Minimum Account Sizes | $5,000 |
7. BlackRock
Financial services:
Investment management
Risk management
Advisory services
Developing future-oriented investments
Market predictions
Investing strategy:
Active management strategies use the best available analysis and historical insights to drive toward targets. Blackrock also uses a risk-first approach with many of its investment strategies.
Pros:
A collaborative, diverse workforce
Innovative, cutting-edge strategies and technology
Focused on sustainability
Cons:
Expensive
Formal advice delivery
| Aspect | Details |
|---|---|
| Assets Under Management | $9.101 trillion |
| Time in Business | Founded in 1984 |
| Fee | 0.80% |
| Fee Structure | Fee-based |
| Minimum Account Sizes | $250,000 to $1 million |
8. Charles Schwab
Financial services:
Accounts management
Securities management
Trading
Investment products
Banking assistance
Investing strategy:
Global, US, and income-focused investments with low fees.
Pros:
High-quality trading platforms
Commission-free online listed stock and ETF trading
Great customer service
Cons:
High futures fees
Limited investment options for investors seeking alternative routes
| Aspect | Details |
|---|---|
| Assets Under Management | $7.13 trillion |
| Time in Business | Founded in 1971 |
| Fee | 0.80% and decrease at higher asset levels |
| Fee Structure | Fee-based |
| Minimum Account Sizes | $500,000 |
Biggest financial advisor firms
AUM, or assets under management, increases with client deposits and often indicates the size of a frim.
The table below ranks financial advisory firms by their AUM:
| Company | AUM (Billion) | |
|---|---|---|
| 1 | BlackRock | 9101 |
| 2 | Vanguard | 7700 |
| 3 | Charles Schwab | 7130 |
| 4 | Fidelity Investments | 4500 |
| 5 | Morgan Stanley | 3300 |
| 6 | JP Morgan | 3200 |
| 7 | State Street | 3000 |
| 8 | Goldman Sachs | 2100 |
| 9 | Amundi | 2000 |
| 10 | Edward Jones | 1800 |
| 11 | BNY Mellon | 1500 |
| 12 | Allianz | 1400 |
| 13 | UBS | 1200 |
| 14 | Fisher Investments | 236 |
| 15 | Mercer | 35 |
| 16 | Facet | 1 |
How to choose a financial advisor firm
In 2023, the US financial advisory services market was worth over $57 trillion. However, with so many renowned firms to choose from, selecting the best financial advisor for your needs can be a challenge.
The best financial advisor firms are those with plenty of experience, a diverse group of industry experts, and a wide range of financial services to offer clients.
Financial advisory firms offer advice, strategy, and guidance in the fields of investment, savings, financial management, and long-term wealth building.
Which is the best financial advisory firm for me?
The best financial advisor firm ultimately depends on what your needs are as a client.
Any of the above firms will likely meet your needs, but some will be more compatible with you than others. You can use the factors listed below to determine which you should choose.
Budget – Naturally, these firms have their own pricing systems to consider. The bigger your budget, the more services and expert guidance you can afford.
Location – Not all financial advisor firms thrive in remote or long-distance arrangements. Choose one that you can easily communicate with.
Service requirement – Some firms specialize in certain services, it's best to pick one with a high level of experience in your field of interest.
Advice delivery – Financial advisor firms have different communication and customer management styles. Pick one that delivers advice in a way you find comfortable and easy to understand.
Experience level – If you need high-level advice and input, you’ll want to opt for a firm with more experience in its field. Smaller, less seasoned companies can easily handle lower-stakes financial management like savings and retirement.
Get matched with a financial advisor
Looking through the best companies for financial advisors in the US is a great method for finding one that meets all your needs and expectations. Not all financial advisors or firms are the same, and knowing what the different specialties are is important for your financial future and long-term security.
If you would like to learn more about financial management and get expert financial advice, let Unbiased match you with a financial advisor that suits your needs.
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Senior Content Writer
Rachel is a Senior Content Writer at Unbiased. She has nearly a decade of experience writing and producing content across a range of different sectors.