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Updated on Thursday, September 10, 2020
Choosing a financial advisor can be challenging given the number of financial advisors in Florida. Finding the right advisor is a lot about figuring out the proper fit, which means understanding your financial needs and goals and how much youâ€™re willing to spend.
That being said, we understand comparing firms and data points can be difficult, so we compiled the most pertinent information to help guide your decision. To determine the best financial advisors in Florida, we only considered firms that manage individual accounts and offer financial planning services. We then ranked these firms based on assets under management (AUM), which serves as a general metric for the firmâ€™s size, and client-to-advisor ratio, which indicates how much attention you may get as a client.
Our ranking is not indicative of which firm may be best for you, but it can help make the shopping experience easier. Use our form to find a financial advisor, or take a look at our list below for the top firms in Florida and their key highlights:
For our search, we looked at firms across the state of Florida. All of the firms considered are bound by fiduciary duty, registered with the U.S. Securities and Exchange Commission (SEC) and offer individual account management and financial planning services.
The firms that met this criteria were ranked based on their AUM and client-to-advisor ratio. These criteria are weighted equally in our scoring metrics. Firms with a higher AUM and lower client-to-advisor ratios garner higher scores. Our ranking system is designed to help compare firms but does not indicate which firm may be best for you.
In our reviews, weâ€™ve listed several other key features that will help you determine which financial advisor is most fitting for your investing style and financial needs. It is important to note that we did not include disciplinary disclosures as a metric for our ranking. We have listed any disciplinary disclosures current as of September 10, 2020, but urge you to evaluate these firms on https://adviserinfo.sec.gov/.
WE Family Offices offers a one-stop financial services shop for high net worth families, providing a range of family office services including investment advice, portfolio construction and financial planning. WE, which stands for Wealth Enterprise, manages each familyâ€™s wealth as though it were a business enterprise, and each WE team member has experience working with large financial institutions. The firm pairs each client with a team of advisors that is led by a designated advisor.
Founded in 2000, WE Family Offices was originally established as TBK Investments. After a stint with big bank ownership, the firm is now independently owned by WE Family Offices Holdings, LLC. In addition to its Miami location, WE Family Offices has an office in New York City.
WE Family Offices is a non-discretionary investment advisor, which means clients have the final authority on all investment decisions. The firm will provide asset recommendations and advice, while taking into account factors like the clientâ€™s risk tolerance, tax issues, liquidity needs and estate planning concerns. Clients are responsible for selecting the custodian for their investment accounts.
WE Family Offices offers values-aligned investing, which allows clients to invest in areas they care about, such as the environment or social causes. This strategy weighs a portfolioâ€™s social and environmental impact alongside its financial returns.
In general, WE avoids investing in IPOs, as they tend to take on too much risk despite their potential reward. It also generally does not recommend individual stocks or bonds.
WE Family Offices has no disciplinary disclosures on its record. This includes any civil, regulatory or criminal actions against the firm, its advisors or its affiliates over the last 10 years. For more information, visit the firmâ€™s IAPD page.
CV Advisors LLC serves high net worth individuals, providing services for estates, trusts, foundations, endowments and charitable organizations with at least $50 million in investable assets.
Located in Aventura, Fla., CV Advisors was founded in 2009 and registered with the SEC in August 2012. It is owned by its founding partners and current managers, Elliot Dornbusch, Alexandre Mann and Matthew J. Storm. Dornbusch is the firmâ€™s CEO, Mann is its registered agent and Storm is COO.
While taking the clientâ€™s investing preferences and goals into account, CV Advisors emphasizes building a portfolio focused on liquidity, risk management and cost efficiency. It starts with â€śtop-downâ€ť allocation across asset classes, followed by a â€śbottoms-upâ€ť focus on individual investments.
While CV Advisors focuses on long-term gains, it will often use short-term investments and trading for tactical reallocations to manage risk or take advantage of a specific investment opportunity. Portfolios typically include fixed income, exchange-traded funds (ETFs), foreign securities, certificates of deposit (CDs) and more.
CV Advisors does not have any disciplinary actions to disclose, which include any civil, regulatory or criminal actions against the firm, its advisors or its affiliates from the past decade. For the most up-to-date information, visit the firmâ€™s IAPD page.
Finaccess Advisors LLC provides its services to individuals, high net worth individuals, pooled investment vehicles, charitable organizations and corporations. In addition to wealth management and investment advisory services, Finaccess Advisors offers financial planning services, including retirement and estate planning, cash flow management and insurance planning.
Founded in 2009, Finaccess Advisors is registered to do business in Florida. Its only office is located in Miami. The firm is primarily owned by Grupo Finaccess, S.A.P.I. de C.V., an investment company formed by a group of private investors.
Finaccess Advisorsâ€™ main methods of analysis when selecting investments for client portfolios include fundamental analysis, charting/technical analysis and cyclical analysis.
Fundamental analysis measures the value of a security by looking at the overall economy, industry conditions and the companyâ€™s status, while charting/technical analysis focuses on past market movements to find patterns and potentially predict future prices. Cyclical analysis, on the other hand, attempts to predict the price of a specific stock by comparing it to the overall market.
Finaccess uses these strategies together to provide a holistic look at a portfolioâ€™s potential returns and risks. The exact investment strategies used depend on the client and their objectives, but can include long-term purchases, short-term purchases and trading.
Finaccess Advisors has no disciplinary or legal events to disclose on its Form ADV paperwork filed with the SEC. Disclosures are defined as any civil, regulatory or criminal actions taken against the firm, its advisors or its affiliates over the last 10 years. For the most up-to-date information, visit the firmâ€™s IAPD page.
J.W. Cole Advisors Inc. serves individuals, estates, trusts, pension plans and other entities with at least $100,000 in assets. Alongside investment management services, the firm may also provide separate financial planning and consulting services, including planning for retirement, taxes and risk management.
J.W. Cole Advisors registered with the SEC in 2000. The firm is privately owned by its founding principal, John Carlson, who serves as the firmâ€™s current president, CEO and CFO. In addition to its Tampa office, J.W. Cole Advisors has an additional 315 offices throughout the country.
J.W. Cole Advisors offers clients the choice between three different managed programs:
When evaluating potential investments, the firm may use fundamental and technical analysis, focusing on an investmentâ€™s wellbeing (based on the companyâ€™s current financial condition and wider financial considerations) as well as stock price movement, including market trends and patterns. Specific investment strategies will depend on a clientâ€™s own goals and preferences.
J.W. Cole Advisors representatives will review a clientâ€™s portfolio and goals at least annually.
J.W. Cole Advisors lists one disclosure on its Form ADV paperwork that all registered investment advisors must file with the SEC. This disciplinary event is related to a principal allegedly failing to monitor the trading of securities at the firm.
The firm is in the process of petitioning for the sanctionâ€™s removal because it is now more than a decade old. For more information, visit the firmâ€™s IAPD page.
LAMCO Advisory Services Inc. provides third-party asset management services for clients of unaffiliated investment advisors. Its services include investment advice and management, wealth management and retirement plan management.
LAMCO does not work with clients to determine their appropriate investment strategy, which is the primary advisorâ€™s job. Rather, LAMCO follows the primary advisorâ€™s determinations for each client and their portfolio and then executes the management of the portfolio.
LAMCO Advisory Services, Inc. got its start in 1991. The firm is wholly owned by The LAMCO Group, Inc., a holding company for the firm.
Advisors at LAMCO aim to create portfolios that can ride the waves of major economic and/or geopolitical change. When it comes to asset allocation, LAMCO Advisory Services turns to a variety of ETFs and mutual funds for diversification and liquidity.
While LAMCO actively manages portfolios, it generally aims to avoid high turnover when trading, preferring to keep transaction costs and tax burdens low. However, advisors may increase trading frequency in high-volatility environments if appropriate.
LAMCO also works with Client Directed Investment Mandates (CDIMs), a unique offering among the firms on this list. With CDIMs, the client indicates how an investment strategy should be initiated, established or maintained. CDIMs can include individual securities, mutual funds and ETFs â€“ and are treated as a locked investment, which means changes can be made only when and how the client says so.
LAMCO Advisory Services has no disciplinary disclosures. This includes any civil, regulatory or criminal actions against the firm, its advisors or its affiliates over the last 10 years. For further information, visit the firmâ€™s IAPD page.
In addition to investment advice and management, GWN Securities Inc. also provides financial planning services, which can include education funding, insurance planning, retirement planning, survivor income analysis and disability income analysis. Its current client base is predominantly individual investors.
GWN Securities has been in business since 2004. It is located in Palm Beach Gardens, Fla. The firm is a subsidiary of World Investment Network, a for-profit corporation that directly owns 25% or more of GWN as well as Money Concepts Capital Corp., another SEC-registered investment advisor and broker-dealer.
GWN Securities offers three different managed account programs. Under each program, clients grant portfolio managers the full authority to manage assets at their discretion. Investment decisions are discussed and made by the GWN Investment Committee rather than by individual representatives.
When looking at potential investments, GWN uses fundamental analysis, which measures a securityâ€™s actual value by looking at economic and financial factors, and technical analysis, which attempts to identify market trends, cycles and patterns. Together, these analyses can provide a more holistic view of a security when determining whether to invest in it.
GWN Securities Inc. also implements modern portfolio theory (MPT) to create asset allocation plans that balance risk and return over the long term. MPT attempts to identify an appropriate ratio of investments â€“ including equity, fixed income and cash â€“ based on a clientâ€™s goals and risk tolerance.
GWN Securities has one disciplinary disclosure noted in its Form ADV related to a regulatory authority finding it in violation of certain investment-related regulations or statutes. For more information, visit the firmâ€™s IAPD page.
Water Oak Advisors is a wealth management firm that serves individuals, investment companies, corporate pension plans, charitable institutions, foundations and endowments with at least $1 million in assets. In addition to wealth management, the firm provides pension consulting services and wealth planning, which can include tax and estate planning. Note that pension consulting may require a $5 million account minimum.
Water Oak Advisors was founded in 1997. Originally called Capital Management Group, it assumed its current name in 2006. The principal owners of the firm are L. Clarke Lemons, who is the firmâ€™s president; Stephen A. Curley, the firmâ€™s CFO; and Scott Macaione, the head of advisory services.
The firmâ€™s headquarters â€“ and only office â€“ is in Winter Park, Fla.
Water Oak Advisors offers both managed portfolios and tactical portfolios. Managed portfolios are built and monitored with a clientâ€™s goals, time horizon and risk tolerance in mind. Water Oak Advisors favors investing in mutual funds for its managed portfolios. Tactical portfolios, on the other hand, are actively managed and adjusted with the goal of outperforming the market.
Water Oak Advisors uses academic-based evidence when making asset management recommendations, meaning it analyzes the market, size of assets, momentum of a security, profitability and more. The firmâ€™s investment committee may also turn to outside consultants for further research and optimization.
Overall, the firm says its goal is to give individual investors the opportunity to take advantage of the same investing strategies used by endowments, foundations and pension plans through the use of â€śexclusive, institutionally pricedâ€ť funds.
Water Oak Advisors does not have any disciplinary actions, which are defined as any civil, regulatory or criminal actions against the firm, its advisors or its affiliates. For further information, visit the firmâ€™s IAPD page.
Resource Consulting Group offers investment management, investment advisory and financial planning services to individuals and high net worth individuals as well as institutional investors. Though its account minimum is set at $1 million, almost a quarter of its individual clients do not meet the SECâ€™s definition of a high net worth individual, which is someone with at least $750,000 under management or a net worth of at least $1 million.
Resource Consulting Group, Inc. was founded in 1988 by Michael H. Davis, who remains the firmâ€™s principal owner and CEO. Its only office is located in Orlando.
Resource Consulting Groupâ€™s investment approach is based on modern portfolio theory, which emphasizes diversification across asset classes. The firm takes a more passive approach to investing thatâ€™s based on academic research and historical data, including a fundâ€™s structure, its performance compared to similar funds, portfolio turnover and investment restrictions and limitations.
In general, the firm favors investment trusts and mutual funds, especially those invested in U.S. and foreign stocks, investment-grade fixed income securities, U.S. government and government agency securities and domestic and foreign real estate investment trusts (REITs).
Clients can establish whether there are any types of securities they do not want to invest in. However, Resource Consulting Groupâ€™s advisors generally operate on a discretionary basis, giving them the authority to make decisions regarding asset purchases, sales, trades and transaction costs without first getting the clientâ€™s express approval.
Resource Consulting Group has no disciplinary infractions to disclose. Disclosures include any civil, regulatory or criminal actions against the firm, its advisors or its affiliates over the last 10 years. For more information, visit the firmâ€™s IAPD page.
Ingham Retirement Group provides continuous investment supervisory services, non-continuous asset management, pension consulting services and a range of financial planning services. It also can create a clientâ€™s asset allocation strategy and then connect them with a third-party manager who best fits the clientâ€™s needs. The firm primarily serves individual investors, though its current client base also includes high net worth individuals and pension and profit-sharing plans.
Ingham Retirement Group, also known as Ingham/Russell Investment Advisors, Inc. was founded in 1991. Its only location is in Miami. The firmâ€™s principal owners are Linda M. Ingham and Kenneth G. Ingham, who is also the firmâ€™s president and CEO.
Ingham Retirement Group manages client assets either on a discretionary or non-discretionary basis, depending on whether the client wants to sign off on every investment decision (non-discretionary) or is comfortable with their advisor making decisions on their behalf (discretionary). Clients may choose either individual portfolio management or model portfolio management, where each portfolio is geared toward a specific goal rather than a clientâ€™s individual needs.
Model portfolios tend to focus on ETFs, over-the-counter securities and mutual fund shares, while individual portfolios consider other assets as well, such as CDs, variable life insurance and municipal securities. Clients may establish restrictions on certain securities or industry sectors.
Ingham Retirement Group focuses on achieving a balanced asset allocation, as opposed to specific securities selection. When purchasing securities, the firm aims to hold them in client accounts for at least a year. Ingham Retirement Group will review and rebalance portfolios annually, unless instructed otherwise.
Ingham Retirement Group does not have any reportable disciplinary events. This includes any civil, regulatory or criminal actions against the firm, its advisors or its affiliates over the last 10 years. For the most up-to-date information, visit the firmâ€™s IAPD page.
Yale Capital Corp. offers investment advice, asset management and financial planning to high net worth individuals and families as well as private investment funds and U.S. institutions. Its clients typically have accounts of at least $10 million.
Based in St. Petersburg, Fla., Yale Capital Corp. has been registered with the SEC since 2004. The firm is owned by Cheyne Pace, who serves as the firmâ€™s chairman, chief investment officer and president.
When assessing asset recommendations, Yale Capital Corp. applies fundamental analysis, which looks at company performance, competitor analysis, the global industry and domestic economic and political conditions. It also takes into consideration the broader market and other economic factors.
The firm creates individual portfolios for each client and manages accounts separately according to a clientâ€™s specific goals and risk tolerance. It primarily focuses on investing in asset classes that pay dividends and are tax efficient, such as exchange-traded securities and bonds. Yale Capital Corp. avoids frequent trading, as it believes the costs â€“ including a heavier tax burden â€“ outweigh potential performance benefits.
Yale Capital Corp. has no disciplinary events to report. The SEC defines disclosures as any civil, regulatory or criminal actions against the firm, its advisors or its affiliates over the last 10 years. For further information, visit the firmâ€™s IAPD page.
Florida does not have state income, estate or inheritance taxes, which makes it an attractive state to live in, especially for retirees. This means not only are your earned wages safe from state taxes, but so is the interest you earn on investments.
No, although many do offer retirement planning services. Itâ€™s important to ask an advisor about their specialties and the typical types of clients they work with to get a better understanding of the services they can provide.
You may need a financial advisor if you have a high net worth, or are preparing for or going through a specific or unique financial situation, such as a life milestone. A financial advisor can help you sort out your finances in those situations and create a portfolio that aligns with your goals and needs.
For instance, if youâ€™re trying to figure out your retirement plan, a financial advisor can help you determine the best places to keep your retirement savings and then navigate your new tax burden once youâ€™re in retirement.
Before signing on with a financial advisor, however, itâ€™s important to consider if the cost is worthwhile given your financial situation. Many advisors require minimum investment thresholds and fees can be higher for those with smaller portfolios.
Financial advisor is a catchall term for a professional who can offer a variety of financial services. This may include asset management, debt payment, insurance management and financial planning. A financial planner is a type of financial advisor who focuses more on a personâ€™s holistic financial life and the creation of a financial plan to help them reach their goals.