Top financial advisor firms
Vanguard
Charles Schwab
Fidelity Investments
BlackRock
Fisher Investments
Facet
Edward Jones
Mercer
1. Vanguard
Vanguard is the world’s second-largest investment company or brokerage firm, offering a range of active and passive options, as well as a competitive fee structure and other attractive selling points.
An established stockbroker firm,Vanguardoffers its users access to personalized financial advice, high-quality investments, retirement tools, and relevant market insights.
Vanguard is renowned for its commitment to passive investing and is a popular choice for those seeking low-cost, long-term investment strategies. The firm offers passive and active options and lets you research, build, and maintain your portfolio using data and research.
Vanguard also offers different options for those at various stages of their investment journey. Its Vanguard Digital Advisor is a robo-advisor with lower-than-average fees that is a good fit for younger investors who want a basic investment account.
On the other hand, its Vanguard Personal Advisor Services options is for investors with a larger portfolio. This type of account requires a minimum enrollment balance of $50,000.
Here are some of the key details of Vanguard at a glance.
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%-0.04% |
| Minimum Account Sizes | $50,000 |
2. Charles Schwab
Charles Schwab is one of the largest and best companies for financial advisors in the US. It is a well-established financial services firm with numerous product offerings designed to suit a wide range of needs.
The firm offers a wide range of services relating to money management, financial planning, investment portfolio expansion, taxes, and retirement accounts.
It has over 400 branches in 45 US states, with more than 1,200 financial consultants on hand to help with their clients' every need. As of August 31, 2021, Charles Schwab provided over 100,000+ financial plans.
Charles Schwab’s fees and commissions are set at a competitive rate. While online listed stock and ETF trades are free, all other forms of investment come at a cost. For example, online options trades are $0.65 per contract and service charges apply to automated phone trades ($5) and broker-assisted trades ($25) for stocks, ETFs, and Options.
Charles Schwab’s overarching mission is to champion individuals' goals with passion and integrity.
Here are some of Charles Schwab's key details.
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 | 0.08% |
| Minimum Account Sizes | No minimum |
3. Fidelity Investments
One of the most well-rounded financial firms available, Fidelity Investments is widely recognized as a good beginner’s option for anyone who wants to develop a comprehensive, reliable investment strategy.
One of the most well-rounded financial firms available, Fidelity Investments is widely recognized as a good beginner’s option for anyone who wants to develop a comprehensive, reliable investment strategy.
Fidelity Investments provides a wide range of specialized financial services for clients who need help navigating different financial circ*mstances, goals, investments, or challenges. Some of the services that the firm financial advisors provide include banking set-up, ETF trading, retirement planning, and investment planning.
The firm has no minimum balance requirement and does not charge any account, activity or transfer-out fees. Fidelity Investment users pay $0 for stock or ETF trades.
Fidelity Investment has a reputation for excellent customer service, offering comprehensive in-person and phone tree customer support so that clients can access the help they need or get information about Fidelity services at all times.
Here are some of the key details of Fidelity Investments at a glance.
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 | 0.05%-1.50% |
| Minimum Account Sizes | $50,000 |
4. BlackRock
One of the world’s leading financial advisory firms,BlackRockis an internationally acclaimed company providing investment management, risk management, and advisory services for institutional and retail clients worldwide.
Its products include single and multi-asset class portfolios investing in equities, fixed income, alternatives, and money market instruments.
BlackRock charges an array of fees using different schedules. These schedules and costs depend on the strategy you choose and the type of account you open. Some accounts have standard fee schedules, while others may be subject to negotiation.
Their goal is to help more and more people experience financial well-being. They are fiduciary to their clients.
The company also focuses on sustainable investing and AI-driven strategy development, rolling out new generative artificial intelligence tools to their clients as part of a drive to use the technology to boost productivity.
Here are some of the key details of Blackrock at a glance.
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% |
| Minimum Account Sizes | $250,000 to $1 million |
5. Fisher Investments
Fisher Investments is one of the best financial advisory firms for customized portfolio strategies. It was created for experienced investors who want a professional to take the reins.
Fisher Investments offers portfolio management and financial planning. It does not offer brokerage services, meaning you will hand over the operation of your portfolio to a professional.
The firm matches each client with an investment advisor who designs a personalized portfolio to meet your desired goals.
Fisher Investments' fee structure is different from that of many other financial advisory firms. It charges an assets under management (AUM) fee to design and manage your portfolio.
The AUM fee is a percentage of the total amount you invest with the firm, and it depends on your portfolio size, for example:
1.25% per year for the first $1 million.
1.125% per year for the next $4 million.
1% per year for assets over $5 million.
This fee includes everything, so there are no additional charges.
Here are some of the key details of Fisher Investments at a glance.
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
| Aspect | Details |
|---|---|
| Assets Under Management | $236 billion |
| Time in Business | Founded in 1979 |
| Fee | 1.0%-1.50% |
| Minimum Account Sizes | $200,000 |
6. Facet
Powered by technology, Facet is a multi-disciplinary financial planning firm that focuses on providing personalized and affordable advice for all types of big monetary decisions.
Facet covers a broad range of areas relating to money, life, and work, including, but not limited to, financial wellness, financial planning, family planning, estate planning, and equity compensation.
Initially launched in 2016, Facet connects its members to a CFP®professional to work with them one-on-one, supported by a team of experts.
The costs associated with Facet are low. Facet charges a flat annual fee for its members based on the complexity of their situation. As of March 2024, this fee ranged from $2,400 to $8,000 annually. Facet also has no minimum balance requirement; however, if you wish to open a managed portfolio, you must deposit a minimum of $500.
Facet’s mission is to provide affordable and accessible financial services, offering a human approach to financial planning.
Here are some of the key details of Facet at a glance.
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 |
| Minimum Account Sizes | No minimum |
7. Edward Jones
Edward Jones is a longstanding financial services firm in the US with a safe and reliable history. They are known best for their independent investment advice.
According to the firm, they have nearly 19,000 financial advisors serving over 8 million clients throughout the US and through its affiliates in Canada. The firm has a total of $1.7 trillion in client assets under care.
The company offers a wide range of account options and investment products, including retirement planning, brokerage account options, stocks, bonds, mutual funds, and EFTs.
Edward Jones fees and commission depend on each unique situation, including services obtained, the nature of the client’s circ*mstances, and the availability of the team members at the time. The fees decrease when an account grows in value.
One of the main selling points of Edward Jones financial services is its prioritization of forming strong client relationships. With skilled and diligent professionals available, these team members make sure that each client feels prioritized as an individual as well as a customer.
Here are some of Edward Jones' key details.
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% |
| Minimum Account Sizes | $5,000 |
8. Mercer
One of the best private wealth management firms, Mercer is renowned for its thorough and professional approach to providing personal financial advice.
Mercer is a fee-only advisor firm with over 400 financial advisors throughout the US and is responsible for tens of billions in client assets under management.
The firm provides services, including financial planning, portfolio management, retirement planning, and tax preparation.
Mercer is also well-suited to users who want to do good with their investments. For clients who express a desire for an ESG-specific portfolio, Mercer can invest in companies with high environmental, social, and governance ratings.
Mercer charges their fees based on each individual's unique circ*mstances. Investment management fees are charged based on the strategies used and the total AUM of the client's account.
Here are some of the key details of Mercer at a glance.
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% |
| Minimum Account Sizes | $250,000 |
How to choose a financial advisor firm
In 2023, the US financial advisory services market is worth over $57 trillion. But 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 you?
The best financial advisor firm ultimately depends on what your needs are as a client.
Any of the above firms are likely to meet your needs, but some will be more compatible with you than others, and 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 communicate with easily.
Service requirement – Some firms specialize in certain services, so picking one with a high level of experience in your field of interest is best.
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 their 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.
