The third most populous city in the state of New Jersey and a hub for immigrants and travelers far and wide, Paterson has become a small land of opportunity on its own, and you can read into a rich history there. Currently under economic revitalization, people are taking advantage of the entrepreneurial opportunities and finding success. And for those people living there now, it’s possible that the newfound wealth brings a host of management problems. Yet you don’t have to deal with them alone: you can employ the services of an expert financial advisor.
Yet which firm should you work with? There are many options in the area to choose from, so here are our top five choices for financial advisory firms for Paterson, New Jersey:
1) Pathstone Family Office
Our top choice for Paterson is the notable Pathstone Family Office, a firm with a sizable $8.54 billion in assets under management and one of our top picks for New Jersey in general. With their over 50 advisors (many of which have top certifications in their field of specialty) they are able to provide a wide range of specialized services which will not leave for financial needs wanting.
They are focused on long-term gains for their clients and consider modern portfolio theory an important tool when investing. Diversification will be important in your portfolio.
Pathstone Family Office is a fee-only firm that requires that you have a $2 million portfolio to work with them.
You can expect the following working with Pathstone Family Office:
- They will work with families, individuals, and select non-profit organizations.
- Their staff takes great pride in their independence from outside influences. Only your needs will be considered, and you can trust their objective advice.
- Services offered include tax planning, estate planning, general financial planning, philanthropic planning, insurance offerings, and investment services.
Our next selection for Paterson is RegentAtlantic, which is based in Morristown and has $4.58 billion in assets under its management. They work with select groups best (executives, for example) and if you feel you’re in a situation that could use some specialized help, we recommend checking to see if they would be a good fit. They have an excellent team and have been in operation since 2001.
Their advisors will first take the time to get to know you and your financial goals before finalizing an investment strategy for you. They will seek a balanced approach that doesn’t take unnecessary risks.
RegentAtlantic is a fee-only firm that does not have a minimum asset requirement or anything similar, but it does have a $10,000 minimum annual fee. If you have less than $1 million to invest, we can’t in good faith recommend this firm.
You can expect the following working with RegentAtlantic:
- They offer tools and programs to help you better understand the financial world.
- Some of the best retirement planning services in the state.
- Main service categories include financial planning, investing services, and trust services.
3) Massey Quick Simon & Co., LLC
Our third choice that we consider great for most New Jersey cities is Massey Quick Simon & Co., LLC, which has about $3 billion in assets under management. Working since 2004 to help clients and their families, their 17 advisors put their best foot forward to make sure that complicated financial situations are untangled and managed for you. We strongly recommend them if you’re looking for an excellent family office.
They use fundamental analysis to evaluate investments and are willing to use several different strategies based on the desires of the client.
Massey Quick Simon & Co., LLC is a fee-only firm that has a minimum account size requirement of $500,000.
You can expect the following working with Massey Quick Simon & Co., LLC:
- An excellent set of services for families concerned about generational wealth.
- A holistic approach to financial planning that understands that there’s more to it than proper investing.
- Additional offices in several locations across the country, in case you travel frequently or are planning to move.
4) Advisors Capital Management, LLC
Our fourth choice for Paterson, Advisors Capital Management, LLC, is a firm based in Ridgewood that has $2.13 billion in assets under management. Founded in 1998 with a rich history of excellent financial strategists and advisors at the helm, they are a great choice for non-high net worth individuals looking for expert help building their wealth.
The firm will carefully select stocks and industries for investment, taking into account several different elements throughout the process. They place emphasis on the importance of minimizing your portfolio’s tax burden.
Advisors Capital Management, LLC is a fee-based firm that has different minimum requirements depending on the type of account you would like to open.
You can expect the following working with Advisors Capital Management, LLC:
- Additional offices in eight other locations. Despite this, they should be able to provide Paterson residents with the full range of services that one should expect.
- A host of online services and information to make investing and self-education much easier.
- Experience making sure investments provide worthwhile income to clients.
5) CFS Investment Advisory Services, LLC
CFS Investment Advisory Services, LLC, our last choice for Paterson, is based in Totowa and has a little over $1 billion in assets under their management. Mostly working with individual clients (non-high net worth), the smaller team of seven advisors is a practical solution for many professionals and people who have just reached the next stage of success.
Simple yet effective in their strategy, the firm is conscious of fees, taxes, and unnecessary risk, and will advise you against all those issues. They use several types of analysis to determine the best investment options for clients.
CFS Investment Advisory Services, LLC is a fee-based firm that requires a minimum portfolio value of $500,000 to work with them.
You can expect the following working with CFS Investment Advisory Services, LLC:
- The firm also works with several types of organizations, such as pension plans and non-profit organizations.
- A goal-oriented approach to financial planning and investment management.
- A commitment to remaining objective for their clients.
We want you to be able to take advantage of the opportunities available in Paterson, and we don’t want you to be held back by fiscal stress and the need for micromanagement. That’s why we so strongly recommend the use of one of the above firms to help guide you on your way to your financial goals. Working with an experienced advisor is almost never the wrong choice, and we hope that you seriously consider consulting with a few choices that you think could work for you and your family. We wish you the best of luck in your search and with your financial future.