Best Financial Advisors in Salt Lake City, Utah

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Salt Lake City is the capital and most populous city of Utah. For this reason, finding a financial advisor can be downright overwhelming. 

Benzinga’s here to help you. We’ve narrowed down your options based on the area of expertise, account minimums and fee structure. Find out which firms made the cut. 

1. Best for Active Portfolio Management: Garrett Capital Inc.

Garrett Capital is a registered financial advisory firm that has been around for over 20 years. The firm specializes in taking an active role in the management of its portfolios. This approach has delivered consistent and favorable returns for its private and institutional clients by staying vigilant and responsive. 

Garrett offers alternative and traditional investment strategies. The firm’s main priority is capital preservation. It believes that it’s more important to preserve capital than to make big gains and give those gains  back or end up with less capital than you started.

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GARRETT CAPITAL INVESTMENT MANAGEMENT

GARRETT CAPITAL INVESTMENT MANAGEMENT

$10,876,751
  • A percentage of assets under your management
  • Performance-based fees
$100,000
N/A
N/A
No
10
  • Market timing services
Address

299 SOUTH MAIN STREET, SUITE 1300 SALT LAKE CITY UT, 84111

Phone number

(800)-657-2600

Best For
Customizable Robo Investing

2. Best Robo-Advisor: M1 Finance

M1 Finance is an excellent money management platform with over 14,000 5-star ratings and 150,000 users. It has a robust platform that allows you to seamlessly invest, spend and borrow your money.

You can use M1 to access your cash and spend with its checking account. Borrowing money has never been easier. M1 gives you access to a flexible line of credit with just $10,000 invested. You can also use its intelligent automation to invest in a portfolio of exchange-traded funds (ETFs) and stocks.

Upgrade to the M1 Plus account for $125 to gain more perks. You can borrow at 2%, earn 1% cash back and 1% annual percentage yield (APY) on checking account balance. 

3. Best for Individuals and Institutions: Wilson Financial Advisors

Wilson Financial Advisors (WFA) is a fee-only, comprehensive financial planning firm. The firm has been offering objective advice for 25 years, building long-lasting relationships.

WFA offers a variety of financial planning services to individuals and institutions. Some of these services include investment advising and portfolio design, cash flow and retirement planning, insurance planning, tax planning and estate planning.

The firm offers a free half-hour consultation to acquaint you with its services and give you an estimate of the cost. During this consultation, you can find out if the firm is a good fit by assessing its capabilities.

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WILSON FINANCIAL ADVISORS, INC.

WILSON FINANCIAL ADVISORS, INC.

$0
  • Hourly charges
  • Fixed fees (other than subscription fees)
No account minimum
2
N/A
No
45
4
  • Financial planning services
  • Pension consulting services
Address

230 SOUTH 500 EAST SUITE #120 SALT LAKE CITY UT, 84102

Phone number

801-355-5210

Best For
ETF Investors

4. Best Mobile App: Betterment

Betterment is an excellent app for beginner investors and seasoned pros. The app recommends a portfolio that’s aligned to how much money you want to make and when you need it. The app also automates tax-saving strategies to help you make the most of your money.

You can choose between Betterment Digital and Premium. The digital plan doesn’t require any minimum account balance and charges an annual fee of 0.25% of your assets under management (AUM).

Betterment Premium is an upgraded plan that charges 0.40% of AUM annually. It requires a minimum of $100,000 in investable assets. With this upgrade, you can also get unlimited phone access to certified financial planners (CFP®’s). Betterment’s customer support is available 24/5 and you can get advice packages starting at $199.

5. Best for Affluent Individuals: Financial Integrity

Financial Integrity is a selective independent planning firm serving high net-worth individuals, highly compensated executives and business owners. The firm offers financial planning in 6 major planning areas: retirement, tax, investment, business, risk management and estate. 

Financial Integrity implements a comprehensive 5-step process to design your financial plan and help you select planning strategies. Those 5 steps include:

  • Data gathering
  • Evaluation and analysis
  • Design
  • Presentation and recommendation
  • Implementation

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INTEGRITY FINANCIAL PLANNING

INTEGRITY FINANCIAL PLANNING

$0
  • A percentage of assets under your management
  • Hourly charges
  • Fixed fees (other than subscription fees)
No account minimum
N/A
N/A
No
11
2
  • Financial planning services
Address

,

Phone number

260-829-6319

Best For
High Net Worth Individuals

6. Best Portfolio Analysis: Personal Capital

Personal Capital gives you the chance to view all your accounts (IRAs, checking, credit cards, savings, etc.) at once to help manage your finances and keep track of spending. You can see your net worth and use financial tools on your phone, tablet or your computer.  

Personal Capital offers managed services if you have at least $100,000 in investable assets. You can get access to a financial advisor who can provide you with tax optimization strategies and a framework to meet your long- and short-term plans.

7. Best for Tax-Oriented Planning: Veritas Wealth Management, LLC

Veritas Wealth Management is a registered investment advisor that helps individuals, families and businesses achieve long-term financial goals. 

Veritas is primarily for those who are concerned about their returns after taxes. The firm’s founder, Troy Knighton, is a certified public accountant (CPA) and specializes in complex tax and estate planning needs.

As part of the tax-oriented planning, the firm deals with primary tax-related issues that include the following: taxes on the sale of a home, tax-efficient withdrawals, tax rules applicable to retirement accounts and tax implications of a divorce.

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VERITAS WEALTH MANAGEMENT, LLC

VERITAS WEALTH MANAGEMENT, LLC

$46,859,933
  • A percentage of assets under your management
  • Hourly charges
  • Fixed fees (other than subscription fees)
$400,000
1
N/A
No
45
2
  • Financial planning services
  • Pension consulting services
  • Selection of other advisers (including private fund managers)
Address

2180 SOUTH 1300 EAST, SUITE 360 SALT LAKE CITY UT, 84106

Phone number

801-596-9999

8. Best for Fiduciary Planning: Five Seasons Financial Planning, LLC

Five Seasons Financial Planning is an investment advisory firm in Salt Lake City. The firm offers discretionary investment management and integrated financial planning services. The firm’s founder, Paul Winter, is highly qualified and holds a chartered financial analyst (CFA) and a certified financial planner (CFP®) certification. 

The firm is a fiduciary and adopts a fee-only business model. This means that it has an unconditional obligation to offer unbiased financial advice and to avoid  conflicts of interest. It is not compensated through the sale of financial products and ensures that every decision is made in your best interest.

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FIVE SEASONS FINANCIAL PLANNING LLC

FIVE SEASONS FINANCIAL PLANNING LLC

$65,300,000
  • A percentage of assets under your management
  • Fixed fees (other than subscription fees)
$250,000
1
N/A
No
32
2
  • Financial planning services
  • Pension consulting services
  • Educational seminars/workshops
Address

4505 S. WASATCH BLVD. STE. 370 SALT LAKE CITY UT, 84124

Phone number

801-272-0902

Frequently Asked Questions

Q: Do I need a financial advisor for retirement?

A: Hiring a financial advisor for retirement can be helpful if you lack the time and expertise. They can add great value by creating a comprehensive plan and implementing tax-saving strategies to ensure you are financially sound.

Q: Can I talk to a financial advisor for free?

A: Yes, your first consultation with an advisor is usually free. 

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

A: The U.S. Securities and Exchange Commission (SEC) website provides a complete list of registered advisors and firms. Once you find the advisor, you can check if there are any disclosures to see if they have a clean disciplinary record.

Find a Financial Advisor in Salt Lake City

Consulting a good financial advisor can certainly ease your financial burden. They provide the guidance you need to achieve your financial goals and manage your investments. Make sure you consult multiple advisors before you make your final decision. 

Methodology

To determine the top financial advisors in Salt Lake City, we pored through all SEC-registered advisory firms who have an office in Salt Lake City. 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 a wrap fee program and have over $50 million in assets under management.

Read also: BEST ACCELERATORS IN SALT LAKE CITY, RANKED