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If you’re looking for a financial advisor in Columbia, Missouri, let us help you out. Choosing the right person to manage your money is a big decision. Benzinga’s list of the best financial advisors in Columbia will help you make the most informed decision.
Best Robo-Advisor: M1 Finance
You may have already heard about the user-directed investment management from M1 Finance, but it’s recently expanded its offerings. You can now use M1 for much more with M1 Borrow and M1 Spend.
Each of these accounts can be integrated with your M1 Invest account under its membership tiers, M1 Basic and M1 Plus.
At its core, M1 is still a digital robo-advisor that gives you control over strategy. You’ll identify your financial goals and the strategy best to meet them. They’ll handle the rest with automated dynamic rebalancing.
You can model your portfolio from nearly 100 expertly-selected mixes. Or customize a portfolio using over 6,000 low-cost exchange-traded funds (ETFs) and individual stocks. M1 also uses fractional shares.
Both M1 Basic and M1 Plus offer free investing. With Plus, you’ll benefit from the 2nd-afternoon trading window. If your investment account totals $25,000 or more, you’re able to use both windows at your discretion.
There are other perks for Plus users. You’ll earn interest and cash back on your M1 Spend checking balance and get discounted rates on interest on the M1 Borrow line of credit.
M1 Basic is free to use; M1 Plus is $125 per year. You can access a revolving, low-rate line of credit once your investments total at least $10,000 with either membership tier. Plus members also earn interest, get cash back and get more ATM reimbursements (among other benefits) with their M1 Spend account.
Best for Divorce Planning: WR Wealth Planners
Serving clients in multiple states from their Columbia, Missouri, home base, WR Wealth Planners offers a wide array of services, including but not limited to:
- Planning for business owners
- Family meetings
- Wealth meetings
- Tax planning
- Divorce planning
- Asset protection
Divorce planning is an often-overlooked aspect of financial planning. It may not occur to you to enlist the guidance of a financial advisor during a divorce. A lawyer should handle that, right? Yes, but a Certified Divorce Financial Analyst from WR Wealth Planners will ensure that the division of your assets is truly fair.
Even if a settlement appears equal in face value, you could still be getting the short end of the stick. Schedule an introductory appointment with WR Wealth Planners to ensure you receive your fair share.
WR Wealth Planners provides its financial advisory services to individuals, high-net-worth individuals, employee-sponsored retirement plans, institutions, charitable organizations and trusts.
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- Wealth Planning
- Tax Planning
- Investment Management
- Divorce Planning
Best Mobile App: Betterment
The Betterment mobile app is a cornerstone of its platform. It’s easy to use and can provide you sophisticated investment strategy and financial management.
Betterment Digital and Betterment Premium are the available membership tiers. Betterment Digital is the most accessible level as you don’t have to maintain a minimum balance to use its robo-advisory services. Using Betterment Digital will cost you a low fee of 0.25% of assets under management (AUM) at this tier.
Betterment Digital manages your investments based on your selected investment strategy, using dynamic rebalancing. Digital doesn’t include strict financial advising or planning. However, you can purchase standalone financial advising packages starting at $199. These packages will address such issues as retirement or planning for life changes.
For investors who have at least $100,000 in AUM, Betterment Premium is an option. This tier has a slightly higher fee at 0.40% of AUM. The higher fee comes with more focused service: Premium clients benefit from the guidance of vetted certified financial planners™ (CFP®s). You may also connect externally linked accounts, like a 401(k), as a Betterment Premium customer.
You can open up an individual and joint nonretirement accounts, IRAs and trusts with Betterment. The Betterment Portfolio Strategy is evidence-based and investor-goal driven.
You can pick from 3 investment strategies: a socially-responsible portfolio mix, the Goldman Sachs Smart Beta option for higher returns through potentially-risky investments or the BlackRock Target Income portfolio, which relies on bond investment, protecting your income by insulating it from risk. Or personalize a Flexible Portfolio designed to meet your specific financial goals.
Best for Personalized Wealth Management: Eagle Bluffs Wealth Management
Eagle Bluffs Wealth Management describes itself as offering “concierge-style” services to its clients, which include individuals, high-net-worth individuals, trusts, estates and businesses.
Their focus lies in forming a real relationship with clients and providing ethical, personalized service. By getting to know you and your unique needs as an investor, Eagle Bluffs will tailor a custom-fit financial plan designed to bulk up your wealth while protecting it from risk.
Eagle Bluffs wealth management services span Investment Management, Financial Planning, Tax Minimization, Trusts & Estates, Charitable Giving, Education and others.
Its management style is simple but effective: identify your goals, formulate a plan, observe and study your plan and alter your plan to adjust to your life as it changes.
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- Investment Mangement
- Financial Planning
- Tax Minimization
- Trust & Estates
Best Portfolio Analysis: Personal Capital
Personal Capital is an all-in-one digital financial management platform. While its wealth management services are reserved for wealthier individuals who can keep at least $100,000 under advisement, anyone can use the free financial tools offered on the platform.
Some offerings include its Fee Analyzer tool, a dashboard that displays all of your financial accounts together, a Retirement Planner tool and more. You can use these tools to increase your financial literacy and chart your financial strategy.
Personal Capital includes comprehensive financial planning and investment management in its wealth management services. Personal Capital investment management strategy uses Smart Weighting, Tax Optimization, Intelligent Rebalancing and Dynamic Portfolio Allocation.
Personal Capital’s membership levels are divided into 3 wealth management tiers: Investment Services, Wealth Management and Private Client.
Investment Services is for investors with accounts ranging from $100,000–$200,000. Your account is handled by a team of expert financial advisors at this tier.
Wealth Management is accessible when you have $200,000 to $1 million in AUM. Two advisors take care of your account, offering focused, personalized service.
Private Client is restricted to those with at least $1 million in AUM. At this tier, 2 dedicated financial advisors offer holistic financial planning, personalized investment strategies and retirement and estate planning.
Personal Capital’s membership is free. There are management fees for its investment advisory services based on the size of your balance. Management fees range from 0.89% to 0.49%, with rates decreasing as account balances increase.
Frequently Asked Questions
Do I need a financial advisor for retirement?
“Need” is a relative term here, but they can always be of assistance in some way. If you are wealthy, have a complicated financial situation or need to ensure you have passive income sources after you stop working, a financial advisor is definitely a good choice. But even if your situation seems straightforward, an advisor will ensure you’re on the right track.
What’s the difference between financial planning and retirement planning?
Retirement planning is either included in a comprehensive financial plan or as a modular service. Financial planning tends to address your finances as a whole, seeking to grow your wealth as much as possible while you’re still earning an active income. Retirement planning aims to secure your financial well-being after you stop working.
Can I talk to a financial advisor for free?
Many advisors offer a complimentary first-time introductory meeting or consultation. You can find out more details by contacting an advisor or visiting their website.
Finding a Good Financial Advisor
A solid financial advisor can help you map out a long-term financial plan. Or, they can help you plan for different life events, like the birth of a child or estate planning.
Get in touch with an expert on our list to start the process of finding a financial advisor. Or sign up with a digital advisor to get started now.
To determine the top financial advisors in Columbia, Missouri, we pored through all SEC-registered advisory firms who have an office in Columbia. To winnow down the list we only included advisors who were registered fiduciaries, had no past disclosures and have minimal personal conflicts of interest. To further break down the list to the true top advisors in the area, we gave weight to advisors that offer both investment management and planning, have no conflicts of interest, have offices in multiple states, have a wrap fee program and have over $50 million in assets under management.