The Philadelphia region has 13 Fortune 500 company headquarters, ranking it tied for 10th out of all metropolitan areas in the nation. With being such a hub for business, technology and money, finding a financial advisor can seem like a monumental task.
It's this concentration that provides Philadelphians with a wide range of options to select the most appropriate advisor. And for that, Benzinga has searched the area to find you the best options possible for your money.
Quick Look at the Best Financial Advisors in Philadelphia:
- Best for Unique Financial Management Strategy: Cordasco Financial Network
- Best Robo-Advisor: M1 Finance
- Best for High-Net Worth: Wescott Financial Advisory Group
- Best for Customized Investment Management: Efficient Advisors
- Best Portfolio Analysis: Personal Capital
- Best for Risk Management: RTD Financial Advisors
- Best for Finding Custom Financial Advisors: SmartAsset
- Best for Long-Term Investment Solutions: McAdam
Best for Unique Financial Management Strategy: Cordasco Financial Network
Cordasco Financial Network is a registered financial advisor offering wealth management and retirement planning services. The company works with everyone from individuals to large estates. Cordasco Financial Network uses a variety of financial management strategies based on your unique goals as an investor.
Cordasco is also one of the only financial advisors in Philadelphia that we’ve seen use trading to help complement customer portfolios. Trading is a strategy in which the asset manager holds a security for less than 30 days. While trading can produce greater losses than long-term holds, it can also produce more profit in a shorter period of time.
If you’re interested in adding frequent trades to your strategy, consider Cordasco.
Cordasco Financial Network is a registered financial advisor offering wealth management and retirement planning services. The company works with everyone from individuals to large estates, and there’s no minimum account balance required to get started. Cordasco Financial Network uses a variety of financial management strategies based on your unique goals as an investor. However, they’re also one of the only financial advisors in Philadelphia that we’ve seen use trading to help complement customer portfolios. Trading is a strategy in which the asset manager holds a security for less than 30 days. While trading can produce greater losses than long-term holds, it can also produce more profit in a shorter period of time. If you’re interested in adding frequent trades to your strategy, consider Cordasco.
- A percentage of assets under your management
- Hourly charges
- Fixed fees (other than subscription fees)
- Financial planning services
- Pension consulting services
- Selection of other advisers (including private fund managers)
Address
THREE LOGAN SQUARE 1717 ARCH STREET, 39TH FLOORPHILADELPHIA PA, 19103
Phone number
215-558-3500
- Customizable Auto Investing
Best Robo-Advisor: M1 Finance
M1 Finance is an integrated money management platform that is a perfect mix between robo-management and a traditional online brokerage. The platform lets you choose among over 80 portfolio models. You can also get low-cost exchange-traded funds (ETFs) and individual stocks, which makes it appealing if you’re hesitant about spending large amounts.
M1 Finance has 2 types of accounts — M1 Core and M1 Plus. M1 Core account does not charge management fees, trading commissions and checking account fees. It offers a 3.5% base rate for its portfolio line of credit. The Plus account is available for $125 per year, where you can receive additional benefits like 1% cash back on qualifying debit card purchases and 1% annual percentage yield (APY) checking.
Best for High-Net Worth: Wescott Financial Advisory Group
With over $2 billion worth of assets under management (AUM), Wescott Financial is one of the country’s largest financial planning and investment advising services. You must have a minimum of $2 million in AUM to begin with Wescott.
Wescott uses a unique blend of active and passive management to maximize your returns. The advisors at Wescott primarily focus on active value investing strategies, which aim to purchase undervalued securities for long-term positions. The company employs a full team of research specialists who perform daily stock and portfolio inspections, ensuring that you’re receiving the most personalized and up-to-date management decisions possible.
With over $2 billion worth of assets under management, Wescott Financial is one of the country’s largest financial planning and investment advising services. You must have a minimum of $2 million in assets under management to begin with Wescott. Wescott uses a unique blend of active and passive management to maximize your returns. The advisors at Wescott primarily focus on active value investing strategies, which aim to purchase undervalued securities for long-term positions. The company employs a full team of research specialists who perform daily stock and portfolio inspections, ensuring that you’re receiving the most personalized and up-to-date management decisions possible.
- A percentage of assets under your management
- Hourly charges
- Financial planning services
- Pension consulting services
- Selection of other advisers (including private fund managers)
Address
30 SOUTH 17TH STREET PHILADELPHIA PA, 19103-4196
Phone number
215-979-1600
Best for Customized Investment Management: Efficient Advisors
Efficient Advisors is one of the best financial advisors if you’re searching for a mix of affordable retirement planning, risk tolerance and personalized advice. Though Efficient Advisors offers a complete range of financial planning and management services, the company’s most unique offering is its turnkey asset management method. (In the world of real estate, a turnkey property is one that’s in near-perfect condition and can be moved into right away.)
Efficient Advisors’ Turn-Key Asset Management system is an online automatic asset allocation system that gives you access to customized investment management. You’ll begin by answering a few questions about your current finances and investing goals. Its system will then select a prebalanced Disciplined Wealth Portfolio and divide your funds among a select group of long-term ETFs and mutual funds.
Efficient Advisors is one of the best financial advisors if you’re searching for a mix of affordable retirement planning, risk tolerance and personalized advice. Though Efficient Advisors offers a complete range of financial planning and management services, the company’s most unique offering is its “Turn-Key Asset Management” system. In the world of real estate, a “turn-key property” is one that’s in near-perfect condition and can be moved into right away. Efficient Advisors’ Turn-Key Asset Management system is an online automatic asset allocation system that gives you access to customized investment management. You’ll begin by answering a few questions about your current finances and investing goals. Efficient’s system will then select a pre-balanced “Disciplined Wealth Portfolio” and divide your funds between a select group of long-term ETFs and mutual funds.
- A percentage of assets under your management
- Fixed fees (other than subscription fees)
- Financial planning services
- Pension consulting services
Address
1801 MARKET STREET SUITE 1010PHILADELPHIA PA, 19103
Phone number
267-613-6250
- High Net Worth Individuals
Best Portfolio Analysis: Personal Capital
Personal Capital is a free financial dashboard that keeps track of every aspect of your finances. The app charges $0 to use its investment tools. It is perfect for those looking for an app for budgeting and investment management.
If you want to upgrade, you can do so with Personal Capital Wealth Management which provides a combination of a pure robo-advisor and a human advisor. You can get extensive tax optimization strategies and a framework to meet your financial goals. To use this service, you will need to have a $100,000 minimum balance.
Best for Risk Management: RTD Financial Advisors
RTD Financial Advisors is one of the top financial advisors in Philadelphia for high net-worth individuals. Though there is no minimum balance required to begin with RTD, most of its clients have portfolios valued at over $2 million. RTD’s primary investing strategy focuses on risk management above everything else. Your team of financial planners and advisors will use a series of indexes and your personal preferences to choose the right asset allocation for your unique goals.
RTD also focuses on consistent reviews, regularly comparing your portfolio’s growth with others in your risk tolerance group to ensure that you stay on track. No matter if you’re looking for a high-growth, aggressive portfolio or a slow-and-steady route toward retirement, RTD’s associates can help you.
RTD Financial Advisors is one of the top financial advisors in Philadelphia for high net-worth individuals. Though there is no minimum balance required to begin with RTD, most of its clients have portfolios valued at over $2 million. RTD’s primary investing strategy focuses on risk management above everything else. Your team of financial planners and advisors will use a series of indexes and your personal preferences to choose the right asset allocation for your unique goals as an investor. RTD also focuses on consistent reviews, regularly comparing your portfolio’s growth with others in your risk tolerance group to ensure that you stay on track. No matter if you’re looking for a high-growth, aggressive portfolio or a slow-and-steady route towards retirement, RTD’s associates can help you.
- A percentage of assets under your management
- Fixed fees (other than subscription fees)
- Financial planning services
- Pension consulting services
- Selection of other advisers (including private fund managers)
Address
30 S. 17TH STREET STE 1620PHILADELPHIA PA, 19103
Phone number
215-557-3800
- Comparing Advisors
Best for Finding Custom Financial Advisors: SmartAsset
Find the right financial advisor to prepare for your future. SmartAsset's platform connects investors, soon-to-be-retirees and retirees with financial advisors from across the country.
As the first comprehensive solution for easily and securely pairing investors with financial advisors, SmartAsset provides you with free and secure access to the financial advisor marketplace and sources advisors that are right specifically for you based on your location, assets and personal preferences.
Answer a brief survey regarding your preparedness for retirement, investment style and contact information, so SmartAsset’s algorithm can match you with the best financial advisor for you!
Best for Long-Term Investment Solutions: McAdam
McAdam is a financial planning and investment management service primarily focused on providing long-term investment solutions to individuals and businesses. There’s no minimum balance required to work with McAdam’s team, and the company primarily focuses on long-term and retirement investing. McAdam’s primary investment strategy focuses on fundamental analysis of long-term ETFs and mutual funds.
This strategy helps you build a more diverse portfolio, which limits your risk. If you’re looking for assistance in building a portfolio that will show slow, consistent gains over time, McAdam might be right for you.
McAdam is a financial planning and investment management service primarily focused on providing long-term investment solutions to individuals and businesses. There’s no minimum balance required to work with McAdam’s team, and the company primarily focuses on long-term and retirement investing. McAdams primary investment strategy focuses on fundamental analysis of long-term ETFs and mutual funds. This strategy helps you build a more diverse portfolio, which limits your risk. If you’re looking for assistance building a portfolio that will show slow, consistent gains over time, McAdam might be right for you.
- A percentage of assets under your management
- Fixed fees (other than subscription fees)
- Financial planning services
- Selection of other advisers (including private fund managers)
Address
1880 JOHN F KENNEDY BOULEVARD 16TH FLOORPHILADELPHIA PA, 19103
Phone number
(888) 614-5323
Find a Financial Advisor in Philadelphia
There are several great financial advisors that you can choose from in Philadelphia. It’s always best to consult at least 3 advisors so that you can optimally find who works best for you. Your financial future is important for your life planning and peace of mind, so ensure that you make an informed decision before choosing an advisor.
Frequently Asked Questions
Can I talk to a financial advisor for free?
Yes, your first consultation is always free of charge. After the initial consultation, financial advisors typically charge a minimum of 0.5% to 1% of the AUM per year.
Can financial advisors help debt?
Yes, financial advisors specialize in helping you bounce back from debt. They will factor into consideration your income, expenditure, savings, investments and tax returns and other necessary information to create a strategy that can help you pay off your debt quickly.
Do I need a financial advisor for retirement?
Not necessarily. You can always take matters into your own hands and use a robo-advisor.
Methodology
To determine the top financial advisors in Philadelphia, Pennsylvania, we pored through all SEC-registered advisory firms who have an office in Philadelphia. 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 over $50 million in assets under management.
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