8 best financial advisors of June 2024

1 min readLast updated June 11, 2024by Rachel Carey

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.

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Top financial advisor firms

  1. Fidelity Investments

  2. Fisher Investments

  3. Facet

  4. Vanguard

  5. Mercer

  6. Edward Jones

  7. BlackRock

  8. 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

AspectDetails
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

Fidelity Investments review >

2. Fisher Investments 

Financial services:

  • Portfolio management  

  • Financial planning  

  • Retirement planning

  • Estate 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  

AspectDetails
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

Fisher Investments review >

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 

AspectDetails
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

Facet review >

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 

AspectDetails
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

Vanguard review >

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

AspectDetails
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

Mercer review >

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  

AspectDetails
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

Edward Jones review >

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 

AspectDetails
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

BlackRock review >

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

AspectDetails
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

Charles Schwab review >

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:

CompanyAUM (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. 

Frequently asked questions

Senior Content Writer

Rachel Carey

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.

Find the best financial advisor

Unbiased connects you with the best financial advisor to suit your financial situation.