Navigating the waters of financial planning can be treacherous without the help of a professional. For smoother sailing, check out our list of the best financial advisors in Sacramento, California.
Quick Look at the Best Financial Advisors in Sacramento:
- Best for Educational Resources: Allworth Financial
- Best Robo-Advisor: M1 Finance
- Best for Novice Investors: Adams Ashby Financial Advisors
- Best for Business Retirement Plans: Fergerson Financial
- Best Portfolio Analysis: Personal Capital
- Best Boutique Firm: Boyd Wealth Management
Best for Educational Resources: Allworth Financial
Allworth Financial is a financial advisor servicing parts of California and Colorado. The firm’s client base includes individuals, as well as with corporations, nonprofits, estates and trusts.
The firm operates with intent to empower clients to make smart planning decisions along with their advisors. Its founders provide free educational resources accessible through several mediums to the public. Allworth Financial is famous for its free retirement planning workshops.
The founders, Scott Hanson and Pat McClain, host the popular podcast Money Matters, which is also broadcast as a radio show in select markets. Their website lists a plethora of online courses and tutorials. All the resources listed are free.
The firm has thousands of clients with close to $2.5 billion in assets under management (AUM). Allworth is a trusted investment advising and financial planning firm.
- A percentage of assets under your management
- Hourly charges
- Financial planning services
- Pension consulting services
- Publication of periodicals or newsletters
- Educational seminars/workshops
8775 FOLSOM BLVD. SUITE 100SACRAMENTO CA, 95826
Best Robo-Advisor: M1 Finance
M1 Finance is a combination robo-advisor and client-managed online broker. The account minimum is $100 and subsequent deposits can be as low as $10.
M1 is not an advisor in the traditional sense. Rather, it automates the management process based on one of the expert portfolio models (it has over 80 available). Clients have the flexibility to customize an investment portfolio model composed of low-cost exchange-traded funds (ETFs) and individual stocks.
The online broker rebalances your portfolio throughout the daily trading period. Clients can make manual adjustments on its website or through the app. It is easy to set up and use, but beginner investors should expect to self-educate on portfolio balancing.
M1 doesn’t offer direction on goal setting or financial planning. Hands-on investors with at least an intermediate grasp on trading will love the functionality of M1.
Best for Novice Investors: Adams Ashby Financial Advisors
The advisors at this Sacramento firm have a realistic view of the finances of most American households. Adams Ashby promises to assess finances in an objective, nonjudgemental method. Clients have a personal, one-on-one relationship with the advisors and portfolio strategies are custom-made for each client.
Services include financial planning, portfolio management and pension and retirement consulting. Clients include small and corporate businesses, charities, pension and profit-sharing plans, as well as trusts and estates.
Adams Ashby gives prospective clients a 1-hour comprehensive review free of charge. With over $1 billion in AUM, Adams Ashby offers an intimate advising service with big-money expertise.
Best for Business Retirement Plans: Fergerson Financial
Another firm on our list without an account minimum, Fergerson Financial is the way to go if you’re setting up a retirement plan for your business. Fergerson Financial will lay out a retirement plan for a company to sponsor. It continuously monitors your plan and ensures the employer-sponsor is legally compliant.
Fergerson Financial stays closely involved in the execution of your retirement plan for the duration of your professional relationship, training relevant employees on a regular basis to handle tasks such as disbursing retirement funds upon employee termination.
Aside from specializing in employer-sponsored retirement plans, Fergerson Financial lists its full set of services as wealth management, financial planning, investment advising and retirement planning. Fees for investment advising and financial planning services are a percentage of AUM. Fee schedules are set as per clients’ unique situations.
Best Portfolio Analysis: Personal Capital
Personal Capital is a comprehensive personal finance service and robo-manager aimed for high-net worth individuals. Account minimums are steep compared to other online advisors: $100,000 for an assigned team of advisors. Those who have $200,000 or more get the added benefit of 2 dedicated advisors to oversee their finances. The tiered-fee scales range from 0.89% to 0.49% of AUM for larger accounts.
Financial planning services cover every area — estate planning (an option for those with $1 million account balances) along with 401(k) analysis and spending tracking. Most of these services are free for investors who have an account, even if they aren’t using investment management. Portfolios are customized on a client-by-client basis and use advanced tax optimization strategies.
Personal Capital is for investors who prefer a more hands-off approach to portfolio management but want a clear, concise indication of how each aspect of their financial health is contributing to the bigger picture.
Best Boutique Firm: Boyd Wealth Management
Boyd Wealth Management is a boutique firm in Sacramento catering to businesses and ultra-high net worth individuals and families. The firm’s comprehensive wealth management strategy defines 5 stages in its process: Discovery, Analysis, Recommendations, Implementation and Ongoing Monitoring. Its wealth management strategies for individual accounts stress long-term investments.
Boyd is particularly adept at financial management for businesses. For growing companies it offers 401(k) profit-sharing plans along with defined benefit plans. Well thought-out strategies to financially cope and recover from the loss of an owner is a cornerstone of its business wealth management expertise. The firm will build a plan for you to exit the ownership of your business, with special attention to investing income from a sale to ensure long-term financial success.
Is a Financial Planner Right for You?
Whether you’re eyeing retirement or launching your career, financial planning with the guidance of a professional is the best way to make the most of your income. Advisors can help with comprehensive wealth management or area-specific management, like planning a college fund. Both individuals and businesses benefit by using the services of a financial professional.
Frequently Asked Questions
How can I research the background of my financial advisor?
The U.S. Securities and Exchange Commission (SEC) Advisor Public Disclosure website is the best place to research a prospective advisor. The SEC requires firms to submit Form ADV brochures, which includes info from the firm’s fee schedule to disclosures. The Financial Industry Regulatory Authority (FINRA) BrokerCheck website is a credible resource as well.
How do you evaluate a financial advisor?
There are many ways to evaluate a financial advisor depending on what is most important to you. Overall, an advisor should help you reach your financial goals. Professional certifications, the success of client portfolios compared to relevant indexes and the average rate of return are also important hallmarks.
Can I talk to a financial advisor for free?
Typically, talking to a financial advisor will come with a fee, though most first visits are free. Some firms and most robo-advisors offer free financial advice and educational resources. If you’re starting out or unsure if you need an advisor, use some of the free resources offered by one of the firms above.
To determine the top financial advisors in Sacramento, California, we pored through all SEC-registered advisory firms who have an office in Sacramento. We winnowed the list by only including advisors who are registered fiduciaries, have no past disclosures and have minimal personal conflicts of interest. To further break down the list to the 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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