The financial planning world has evolved tremendously over the past few decades. In the not too distant past, most investors needed a financial advisor just to have access to current information about stocks and markets. Nowadays, there’s so much information available that many investors need professional advisors to simply sort out what’s important from what is not.
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But, what makes a good financial advisory company? The best ones offer comprehensive services, ranging from investment management to financial planning, all for a low fee. The good news is that you can now find nearly any type of advisor that you would like, from those offering traditional, in-branch services to those that are completely online and automated.
Best Financial Advisors of November 2024
Here’s a look at a broad range of the best financial advisors, from household names to up-and-coming outfits that are giving “the old guard” a run for their money. Which one is best for you will vary based on your investment experience, needs, risk tolerance and comfortability with in-branch of online options.
1. Fidelity
Fidelity is well-known for its no-load mutual funds, but it also has a thriving advisory business. The firm, which has been around for more than 75 years, offers a number of investment management options for its clients. Here are the four primary choices:
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Fidelity® Wealth Management: Access to a Fidelity advisor who provides planning and investment management services based on your needs; requires $500,000 and charges a gross advisory fee of between 0.50% and 1.50%
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Fidelity Private Wealth Management®: Those with at least $2 million managed by Fidelity have access to their own wealth management team, led by their Fidelity advisor, that provides comprehensive financial planning and wealth management services for a gross advisory fee of 0.20% to 1.04%
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Fidelity Go®: A robo-advisory service with $0 advisory fees under $25,000 and a 0.35% fee for higher balances that includes unlimited 1-on-1 coaching calls; $0 to open with a $10 minimum to invest
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Fidelity Managed FidFolios®: Offers professionally managed portfolios with a minimum of $5,000 and an advisory fee of 0.70%; portfolios can be actively managed or directly managed.
Fidelity Key Details:
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Fees: 0% – 1.50%
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Account Minimums: $0 – $2 million
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Assets Under Management: $5.5 trillion
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Promotions: None currently
2. Schwab
With $500,000 in assets at Schwab, investors can get access to a dedicated financial advisor who can build financial plans and offer various investment options. There’s no cost for this service, although you may have to pay for specific investments you choose. However, as many investments as Schwab are no-cost, such as stock and ETF trades and many mutual funds, there may not be any cost at all.
Another option is the Schwab Wealth Advisory service, which is also available to clients with at least $500,000 in assets. This service offers comprehensive wealth management advice and strategies via a dedicated team for fees starting at 0.80% annually, falling to 0.30% for assets over $5 million.
Schwab Key Details:
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Fees: 0% – 0.80%
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Account Minimums: $500,000 – $5 million
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Assets Under Management: $1.25 trillion
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Promotions: None currently
Looking for the latest deals on Schwab? Check out our detailed guide on the Newest Charles Schwab Promotions & Offers to discover how you can take advantage of current savings and benefits.
3. Vanguard
Like Fidelity, Vanguard was — and still is — famous for its high-performing no-load funds. However, it too has evolved into a financial management and advisory firm that offers three levels of advisory services.
The first is a robo-advisory option, Vanguard Digital Advisor, which requires a $100 minimum to enroll and charges 0.20% to 0.25% annually.
The next option is the Vanguard Personal Advisor service*, which offers access to a financial advisor whenever needed for a 0.30% annual fee, with a minimum of $50,000 in assets.
The top-tier option at Vanguard is the Personal Advisor Select Program. For a 0.30% annual fee, investors with at least $500,000 in assets get access to a dedicated financial advisor who charges no commissions.
Vanguard Key Details:
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Fees: 0% – 0.30%
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Account Minimums: $100 – $500,000
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Assets Under Management: $9.9 trillion
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Promotions: None currently
4. JPMorgan Chase
JPMorgan Chase is the largest bank in America, but it also offers a variety of financial advisory solutions. Starting with just $25,000 in assets, clients can get access to a team of fiduciary advisors that offer phone and video assistance and help build a financial strategy. Fees start at 0.6% of assets annually and fall to 0.5% if you’re investing at least $250,000 or more.
For a more in-depth option, clients can pay a bit more and work one-on-one with a dedicated advisor that provides more comprehensive solutions. Fees start at 1.45% annually, with a minimum of $10,000.
JPMorgan Chase Key Details:
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Fees: 0.5% – 1.45%
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Account Minimums: $10,000 – $250,000
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Assets Under Management: $3.9 trillion
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Promotions: None currently
Looking for the latest deals on Chase? Check out this detailed guide on the Newest Chase Promotions & Offers to discover how you can take advantage of current savings and benefits.
5. Facet
Facet is a bit different from most of the other advisory firms on this list. Rather than charging a small annual fee for management and advice, it charges a fee for providing the services of a Certified Financial Planner, who acts in a fiduciary capacity. For limited access to any Facet CFP, the fee is $2,000 per year. This rises to $3,000 per year for the “Plus” tier, which offers a small dedicated CFP team and additional services.
The top-tier “Complete” level costs $6,000 per year and provides access to a dedicated CFP and includes full estate planning documents and advanced tax planning. This means that Facet may not be a good match for those with small portfolios. However, for those with at least $1 million in assets, it could offer a tremendous value in exchange for the in-depth, comprehensive financial planning available.
Facet Key Details:
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Fees: $2,000 – $6,000 annually
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Account Minimums: $500 – $1 million
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Assets Under Management: $3.49 billion
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Promotions: None currently
6. Edward Jones
Edward Jones has roughly 19,000 financial advisors and more branch offices across America than any other brokerage firm in the country. The firm offers two managed account services for an annual fee:
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Edward Jones Advisory Solutions® Fund Models: This delegated approach dynamically uses mutual funds and ETFs to meet investor objectives; this solution requires a $25,000 minimum, and annual fees start at 1.35% of assets.
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Edward Jones Advisory Solutions® Unified Managed Account (UMA) Models: This higher-tier model includes a professionally managed portfolio that incorporates risk management and tax efficiency across a diverse range of investments for a minimum of $300,000. Fees begin at 1.35% annually.
Edward Jones Key Details:
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Fees: 1.35% annually
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Account Minimums: $25,000 – $300,000
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Assets Under Management: $2 trillion
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Promotions: None currently
7. Betterment
Betterment was one of the first pure robo-advisors, and it still offers expert-built portfolios, tax-efficient investing and ongoing optimization, all with no minimum and annual fees of just $4 per month or 0.25% of assets. But Betterment also now offers access to a team of Certified Financial Planner professionals for those with $100,000 or more in assets for a 0.65% annual fee. Worth noting, however, is that Betterment’s professionals are available by phone or email only.
Betterment Key Details:
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Fees: $4 per month or 0.25% of assets — 0.65% annually
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Account Minimums: $0 – $100,000
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Assets Under Management: $50 billion
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Promotions: 1% IRA match on traditional and/or Roth contributions until Dec. 31, 2024. More details on the website.
8. Wealthfront
Wealthfront was the first real robo-advisor, and it remains true to its original mission, offering a completely digital platform with no access to human advisors. However, it offers personalized portfolios of low-cost index funds from up to 17 asset classes for a fee of just 0.25% annually, with a $500 minimum. Clients receive a tailored portfolio of funds based on the responses clients enter into the firm’s questionnaire.
While those who need more advanced financial services will want to look elsewhere, Wealthfront remains a solid option for beginning investors or those who want a professionally allocated portfolio for a minuscule cost.
Wealthfront Key Details:
9. Zoe Financial
Zoe Financial is a bit different from the other firms on this list in that it doesn’t actually offer any of its own financial professionals, nor does it offer direct investment services. Rather, it acts as a bridge between fiduciary financial advisors and clients, charging no fee for its services. Each advisor working with Zoe Financial is an independent expert who works on a commission-free model, so you won’t have to worry about being steered towards expensive products that may not be in your best interest.
Zoe Financial offers a free consultation with each advisor you meet, after which you’ll pay whatever the independent advisor you choose charges. The service can be invaluable in terms of pairing you with the right advisor rather than blindly searching for one on your own. You’ll need at least $150,000 in assets to use Zoe Financial’s services, and the company offers a three-month satisfaction guarantee.
Zoe Financial Key Details:
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Fees: Charges determined by individual advisors
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Account Minimums: $150,000
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Assets Under Management: N/A; Zoe is a platform that connects advisors and clients
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Promotions: None currently
10. Empower
Empower, formerly known as Personal Capital, offers a wide variety of advisory services, from free information all the way up to private client services. Beyond the firm’s extensive free services, its paid tiers are broken down as follows:
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Investment services: Offers financial and retirement planning guidance from an advisory team for those with $100,000 to $250,000 in investable assets. This includes unlimited assistance from financial advisors and the creation of a professionally managed ETF portfolio.
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Wealth management: Those with $250,000 to $1 million in assets can gain access to two dedicated financial advisors backed up by specialist support, offering customized portfolios and expertise in real estate, stock options, tax optimization and more.
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Private client: With over $1 million in investable assets, you gain access to one-on-one comprehensive financial planning, with in-depth support and priority access to Empowers specialists and Investment Committee. Those with at least $5 million in investable assets also gain access to private equity.
Empower Key Details:
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Fees: 0.49% – 0.89%
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Account Minimums: $100,000 – $5 million
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Assets Under Management: $1.6 trillion
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Promotions: None currently
*Advice services are provided by Vanguard Advisers, Inc., a registered investment advisor, or by Vanguard National Trust Company, a federally chartered, limited-purpose trust company.
The information related to JPMorgan Chase financial advisory solutions was collected by GOBankingRates and has not been reviewed or provided by the issuer of this product. Product details may vary. Please see the issuer’s website for current information. GOBankingRates does not receive commission for this product.
Data is accurate as of Oct. 30, 2024, and is subject to change.
Editorial Note: This content is not provided by any entity covered in this article. Any opinions, analyses, reviews, ratings or recommendations expressed in this article are those of the author alone and have not been reviewed, approved or otherwise endorsed by any entity named in this article.
This article originally appeared on GOBankingRates.com: 10 Best Financial Advisors of November 2024
