Best Financial Advisors in Rochester, New York

Contributor, Benzinga

Looking for the right advisor for you? Datalign Advisory makes finding a financial advisor specific to your needs easier than ever.

The financial activities sector comprises just over 29% of New York’s real GDP. Rochester, the 3rd largest city in New York, is home to some of the best financial advisors and firms. 

Planning your finances can be particularly daunting if you’re not an expert, especially when you want the best. (Your financial future can’t wait!) Benzinga has compiled a list of money managers so your wealth is optimally managed.

Best Financial Advisors in Rochester Near You:

Best for Individuals and Companies: Novem Group

Novem Group has been recognized as Rochester’s Top 100 companies for the last 4 years in a row. It’s an independent firm that provides financial services for individuals and companies. 

Novem offers insurance planning, retirement and estate planning and portfolio analysis for individual investors. The firm provides purpose-built tactical strategies to steer your investment portfolio in the right direction.

Novem also helps companies find group insurance and group retirement plans and provides comprehensive plans to manage your biggest human resource investments with ease.

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NOVEM GROUP

NOVEM GROUP

$599,274,686
  • A percentage of assets under your management
  • Hourly charges
  • Fixed fees (other than subscription fees)
N/A
30
1,415
Yes
65
8
  • Financial planning services
  • Pension consulting services
  • Selection of other advisers (including private fund managers)
  • Publication of periodicals or newsletters
  • Educational seminars/workshops
Address

350 LINDEN OAKS SUITE 140 ROCHESTER NY, 14625

Phone number

585-348-9525

Best For
Customizable Robo Investing
Disclosure Your free trial (a $31.25 value) begins the date you enroll in the M1 Plus subscription, and ends 90 days after (“Free Trial”). Upon expiry of the Free Trial, your account is automatically billed an annual subscription fee of $125 unless you cancel under your Membership details in the M1 platform.

Best Robo-Advisor: M1 Finance

M1 Finance uses pies to make building and managing a portfolio intuitive. You can choose from more than 6,000 stocks and funds to build the firm’s patented Custom Pies or you can also select from nearly 100 Expert Pies.

M1 Finance’s Core account includes:

  • No trading commissions
  • No management fees
  • Free checking account
  • 3.5% base rate for a portfolio line of credit

M1 Finance’s Plus account includes:

  • Core account features
  • 1% APY on checking account balance 
  • 1% cash back on qualifying debit card purchases, no limits
  • Access to a second daily trade window
  • 2.75% rate for portfolio line of credit (0.75% reduction)

Best for Wide Range of Products and Services: Excel Securities & Associates Inc

Excel Securities & Associates is a boutique, full-service financial firm for individuals, families and businesses. The firm has been around for over 4 decades and provides the following financial products and services:

  • Professional portfolio management
  • Life training planning
  • Comprehensive financial and retirement planning 
  • Qualified corporate retirement plans such as 401(k)
  • Various account types (taxable, tax-free, IRA, 529 plans, trusts, etc.)
  • Insurance products (annuities, term, etc.)

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EXCEL SECURITIES & ASSOCIATES,INC.

EXCEL SECURITIES & ASSOCIATES,INC.

$205,000,000
  • A percentage of assets under your management
N/A
21
724
Yes
41
8
  • Financial planning services
  • Pension consulting services
Address

200 CANAL VIEW BLVD. SUITE 204 ROCHESTER NY, 14623

Phone number

585-424-1234

Best For
ETF Investors

Best Mobile App: Betterment

Betterment is a robo-advisor that offers low fees and makes investing simple. Betterment offers unique features like multiple goal settings and corresponding asset allocations. Once you answer a few questions, the app will use its algorithm to determine your portfolio’s asset allocation.

Betterment Digital does not require a minimum balance to get started, though there is a 0.25% charge on assets under management. Betterment’s Premium plan is a step up — it allows you access to a certified financial planner for a 0.40% fee and a $100,000 minimum account balance.

Best for Exit Planning: High Falls Advisors

High Falls Advisors is a registered investment advisor that helps business owners retire or sell their business. The firm provides a comprehensive exit plan strategy to make sure that your personal and business goals are met. 

The exit plan follows a straightforward process. The firm’s team will clarify your goals and determine whether you are emotionally and financially ready to exit your business. You will be provided with multiple exit options so you can choose the strategy that seems like the best fit. Once the value of your business under that strategy is determined, the firm will execute the exit strategy. This includes financial planning, market timing and working with outside advisors.

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HIGH FALLS ADVISORS, INC.

HIGH FALLS ADVISORS, INC.

$391,884,930
  • A percentage of assets under your management
  • Hourly charges
  • Fixed fees (other than subscription fees)
N/A
9
936
Yes
52
6
  • Financial planning services
  • Publication of periodicals or newsletters
  • Educational seminars/workshops
Address

180 SOUTH CLINTON AVE SUITE 300 ROCHESTER NY, 14604

Phone number

585-935-5300

Best For
High Net Worth Individuals

Best Portfolio Analysis: Personal Capital

Personal Capital is a digital asset management service that also includes personalized advice from financial planners. There are 2 ways you can use Personal Capital:

  • You can use the free planning tool. This is a free investment tool that manages your spending and assets.
  • You can also opt for managed services. A managed service provides tax-saving strategies and helps you achieve your short- and long-term goals. It requires a $100,000 minimum account balance to qualify. You’ll pay an 0.89% account management fee — the fee is discounted to as low as 0.49% for larger account balances.

Best for Comprehensive Approach: Mirsky Financial Management Corp.

Mirsky Financial Management Corp. is a financial services firm in Rochester that provides comprehensive services that include financial planning, wealth management, retirement planning, estate planning and tax services.

Mirsky’s approach to financial planning allows you to achieve your life goals through expert management. This can be anything from short-term goals like buying your first home, college savings and long-term goals like retirement and leaving a legacy. Mirsky Financial Management Corp.’s investment approach aims to balance risk and reward by focusing on a disciplined asset allocation strategy using asset allocation strategies that mitigate risk using low-cost investment vehicles aimed at achieving index-like returns.

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MIRSKY FINANCIAL MANAGEMENT CORP.

MIRSKY FINANCIAL MANAGEMENT CORP.

$233,160,382
  • A percentage of assets under your management
  • Fixed fees (other than subscription fees)
N/A
7
189
Yes
99
6
  • Financial planning services
  • Pension consulting services
  • Selection of other advisers (including private fund managers)
Address

130C LINDEN OAKS ROCHESTER NY, 14625

Phone number

(585) 264-1658

Pricing
Depends on Advisor
Account Minimum
$0

Best for Finding Custom Financial Advisors: SmartAsset

SmartAsset‘s platform connects investors, soon-to-be-retirees and retirees with financial advisors from across the country. 

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 Client Engagement: Howe and Rusling

Howe and Rusling have been around for 90 years as an investment advisory firm in Rochester. Apart from creating comprehensive financial plans and solid investment strategies, the firm offers excellent client engagement. 

Howe and Rusling regularly creates and presents educational content. The firm offers online videos and a quarterly newsletter about general finance-related topics, whether it’s a market update, a broad economic outlook, an introduction to setting up a 401(k) plan or something industry-specific.  

Howe and Rusling ensure that clients get as involved as possible by educating them with relevant content. This could be a market update, broad economic outlook, introduction to setting up a 401(k) plan or something industry-specific.

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HOWE AND RUSLING, INC.

HOWE AND RUSLING, INC.

$1,177,821,484
  • A percentage of assets under your management
  • Fixed fees (other than subscription fees)
N/A
19
532
Yes
71
6
  • Financial planning services
  • Selection of other advisers (including private fund managers)
  • Publication of periodicals or newsletters
  • CONSULTING
Address

120 EAST AVE ROCHESTER NY, 14604

Phone number

585-325-4140

Frequently Asked Questions

Q: What’s the difference between financial planning and retirement planning?

A: Retirement planning is a part of financial planning but there is a clear difference between the 2 options. When you make a financial plan, it could include both short- and long-term goals. Short-term goals include planning for a new house, a home addition and more. Long-term goals include legacy planning and even retirement planning. Retirement plans only include strategies that can make you money after you retire so your future is safe.

Q: How can I research the background of my financial advisor?

A: The Financial Industry Regulation Authority (FINRA) provides you with a free tool known as the BrokerCheck to help you check the background of your financial advisor.

Q: Which certifications should my financial planner have?

A: There are many financial qualifications that financial advisors might have. The 2 most credible certifications that you need to look out for are the Certified Financial Planner (CFP) and Chartered Financial Analyst (CFA). 

Choose the Right Financial Advisor in Rochester

Financial advisors can certainly boost your returns by using multiple strategies to help you make the most of your money. One of the first questions you can ask is whether a financial advisor is a fiduciary. If a financial advisor is a fiduciary, it means that he will put your best interests first and make no commissions or take incentives.

Methodology

To determine the top financial advisors in Rochester, we pored through all SEC-registered advisory firms who have an office in Rochester. We winnowed the list by only including advisors that are registered fiduciaries, have 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.