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Best Financial Advisors in Utah

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Utah is in the west, with cities like Provo and Salt Lake City. You shouldn’t be surprised by the number of experienced and certified financial advisors who also call it home. Fee-only financial planners and fiduciaries all make the list. Choosing one that perfectly meets your financial needs may be a heavy lift for you. Benzinga has prequalified and handpicked some of the top financial advisors in the Beehive State.

Best Financial Advisors in Utah:

Best for Personalized Investment Plans: Albion Financial Group

Founded in 1982, Albion Financial Group is a privately-held, fee-based firm with close to $1.2 billion assets under management (AUM). Through its array of personalized investment plans, the firm can help create sustained success through macroeconomic analysis, company-specific research as well as global trend identification. The investment experts also have experience across an array of investment assets from pooled investment vehicles to individual equities.

Clients with at least $500,000 in investable assets can access the Albion Wealth Builder service, which lets smaller portfolio investors access the same investment management services higher net worth clients enjoy. The firm also offers another specialized product — Women of Albion — that helps women better understand and manage their finances. Albion also offers guidance in setting up and investing in IRAs, pensions, 401(k)s and retirement plans.

$978,577,639
N/A
13
508
  • Financial planning services
  • A percentage of assets under your management
  • Hourly charges
  • Fixed fees (other than subscription fees)
  • Performance-based fees
Commissions
FREE automated investing
Account Minimum
$100 for regular accounts $500 for retirement accounts

Best Robo-Advisor: M1 Finance

The M1 Finance unique investing platform lets you allocate funds through the “pie investing” strategy. You can select 1 of 80 expert portfolio allocations the platform calls pies. Each pie comprises a mix of ETFs and stocks. You can build your investment portfolio for free, schedule weekly or monthly deposits, invest in fractional shares and access a portfolio line of credit when your portfolio value is more than $10,000.

M1’s account options, Basic account and M1 Plus account, do not require a minimum balance. However, the M1 Plus offers additional privileges like a $50,000 daily ACH limit, ATM fees are covered 4 times per month, 2 daily trade windows and a 2% base rate on your loan. You’ll also earn a 1% cash back on all qualifying debit card purchases.

Best for Portfolio Management: Paragon Wealth Management

Paragon Wealth Management — a 9-time winner of Utah Best of State Award — offers portfolio management services to institutions and individuals. The firm will build a plan to manage your portfolio around what matters most to you — your investment strategy. Investment management services are offered on a discretionary and nondiscretionary basis.

Every client’s investment goals are identified using a risk profile that assesses your risk tolerance based upon income, age, cash flow needs and investment goals. The firm constructs client portfolios using individual equities, ETFs and may also invest in municipal and corporate bonds. You must establish brokerage accounts and maintain custody of assets via Schwab Institutional or TD Ameritrade Institutional. The firm has over $109 million AUM.

$100,716,073
$200,000
3
128
  • Financial planning services
  • Selection of other advisers (including private fund managers)
  • A percentage of assets under your management
  • Hourly charges
  • Performance-based fees

Best Mobile App: Betterment

Betterment has built an app to help you make the most of your money. You can grow your savings with its high-yield cash reserve account that earns 0.40% APY (Annual Percentage Yield), which is more than 3 times the national average. Betterment’s Cash Reserve account doesn’t require a minimum account balance but you must deposit at least $10 to get going.

You can also create your retirement plan for free, after which an annual fee of 0.25% is charged on your balance — $25 for every $10,000 invested.

Connect any outside accounts and roll over past 401(k) accounts to Betterment. The platform offers unlimited access to its certified financial planners to its premium members. This requires a minimum of $100,000 in investable assets and a 0.40% annual fee. 

The firm offers dedicated financial advice and guidance through the Betterment Advisor Network™ which works exclusively with members of the Financial Planning Association (FPA). Over-the-phone advice packages for various needs are also available starting at $199.

Best Financial Planner for Physicians: UMA Financial Services

UMA Financial Services serves the members of the Utah Medical Association (UMA) and its family members. It helps physicians build a solid financial foundation that organizes their resources to give them the best possible outcome for their objectives. The firm works with nonmembers of the UMA under limited circumstances. Its ongoing monitoring of client portfolios is an integral aspect of its investment process.

UMA Financial’s investment management fees are based on an annual percentage of AUM, ranging from 80% to 40% for assets between $250,000 and $10 million. The firm recommends that clients allocate their investments among multiple asset classes, including real estate investment trusts, fixed income securities and equities. The financial advisors can provide options and ideas about saving toward your college goals as well as managing and paying down debt.

$997,784,080
No minimum
5
912
  • Financial planning services
  • Pension consulting services
  • Educational seminars/workshops
  • A percentage of assets under your management

Best Portfolio Analysis: Personal Capital

Personal Capital customizes your portfolio based on your needs and preferences to create Personal Strategy™ — a dynamic framework created using real-time financial account data, information from your investor profile and retirement planning with Monte Carlo projections. Its dashboard provides the tools needed to track cash flow, manage savings, review and monitor your investments. 

Whether on Android or iOS, you will get a picture of your financial outlook on-the-go. Plan for retirement with the platform’s retirement planner tool and uncover any hidden fees using its free analyzer.

The platform offers 3 wealth management tiers: investment services, wealth management and private client. As a private client you get a personalized portfolio, a dedicated team of advisors and all its investment services.

Best for High Net Worth Individuals: TrueNorth Wealth

TrueNorth Wealth serves corporate and business pension plans, government agencies and private clients. Its private clientele consists primarily of high net worth individuals who have amassed significant wealth, are nearing retirement or have retired. 

The firm’s compensation derives from AUM and investment advisory fees. No fees are charged for quarterly financial reviews, investment analysis, retirement analysis, tax analysis, insurance review and trust/estate review.

TrueNorth Wealth does complete financial plans as part of its investment advisory fees, with charges ranging from $1,000 to $5,000. The fee could be less or more depending on the complexity of your circumstances. The firm has approximately $459,282,352 AUM.

$401,794,521
$300,000
6
20
  • Financial planning services
  • Pension consulting services
  • Publication of periodicals or newsletters
  • Educational seminars/workshops
  • A percentage of assets under your management
  • Hourly charges
  • Other

Best for Diverse Investment Advisory Services: Ashworth Wealth

Ashworth Wealth provides individuals and other types of clients with a broad range of investment advisory services. It uses the services of 3rd-party money managers to the management of its clients’ accounts. Your assets are invested in individual stocks, low-load or no-load mutual funds and exchange traded funds, typically via fund companies or discount brokers.

The firm charges an hourly fee not exceeding $300 or a flat fee ranging from $1,000 to $50,000 for its financial planning and consulting services. Financial plans for families are priced at $1,000–$5,000 while plans for businesses are priced at $5,000–$15,000. The minimum annual advisory fee is $5,000.

Ashworth Wealth performs account reviews at least annually but could be more frequent when the market conditions dictate.

$138,415,995
$500,000
5
164
  • Financial planning services
  • Pension consulting services
  • Selection of other advisers (including private fund managers)
  • A percentage of assets under your management
  • Hourly charges
  • Fixed fees (other than subscription fees)

Frequently Asked Questions

Q: Do financial advisors check your credit?

A: Financial planners don’t lend out money — they won’t pull your fiscal report. However, they may ask personal questions to better understand your debt situation and any credit-related issues.

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

A: People or firms that offer investment advisory services should register with the U.S. Securities and Exchange Commission (SEC) and be members of the Financial Industry Regulatory Authority (FINRA).

The Investment Adviser Public Disclosure (IAPD) search tool lets you research SEC and state-registered investment advisors. You will find the registration status, background information, like the advisor’s business practices, disclosures and fees as well as qualifications.

FINRA’s BrokerCheck database is also an excellent, free tool to research the professional background of current FINRA-registered firms. BrokerCheck redirects to IAPD as needed for information on advisory firms and professionals.

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

A: Most financial advisors will start by giving you a free initial consultation. Advisors use this meet-and-greet to introduce you to their services, gather information about your financial condition, investment objectives and risk tolerance and ultimately reach an agreement on the terms of service and compensation guidelines.

Plan Your Future With the Right Financial Advisor in Utah

Make sure you perform a background check before choosing a financial advisor in Utah. Meet several prospects, understand their terms of service and ensure their strategies align with your investment objectives. Plan now and you’ll save more money later.

Methodology

To determine the top financial advisors in Utah, we pored through all SEC-registered advisory firms who have an office in Utah. 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 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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