An important part of the Tampa Bay area and a wonderful place to live if only for the wonderful weather, many successful people make their home in St. Petersburg. If you’re one of them, we want you to make the most of your time there instead of poring over financial reports and spreadsheets all day. In most cases, we think those tasks are best left to professionals, which is why you should consider working with a financial or investment advisor. They spend years studying the markets and work day in and day out to stay on top of financial trends.
The main problem is selecting one, given the number of firms operating in the area. Fortunately, we’re here to help. Here are our top five choices for financial advisory firms for St. Petersburg, Florida:
1) PSI Advisors, LLC
Our top choice for the area and the city of Tampa, many St. Petersburg residents can’t go wrong by at least looking into PSI Advisors, LLC, which is based in Tampa and has $323 million in assets under management. You can trust their stronger infrastructure and solid contacts in the industry.
They will use a set of different strategies for each client, and adjust their approach based on the needs of the market, their own analysis based on your situation (including your level of risk tolerance), and other factors.
PSI Advisors, LLC is a fee-based firm that does not have a stated account minimum.
You can expect the following working with PSI Advisors, LLC:
- A staff of nine excellent advisors and a support staff that meets those same high standards.
- Services offered which include investment planning, financial planning, retirement planning, insurance services, college planning, and more.
- An open mind when it comes to new investment strategies and opportunities.
2) Wealth Advisors of Tampa Bay
Second on our list is Wealth Advisors of Tampa Bay, which has $272 million in assets under their management. They primarily work with families, often working families, that are hoping to get ahead a bit in their planning. A firm that focuses on the clients first, they will seek to develop a relationship with you in order to form a better working relationship and a better understanding of your situation.
Their investment strategy mostly revolves around finding the best asset allocation plan for your portfolio, all the while making sure that your taxes and fees are causing as few problems as possible. They also pay close attention to minimizing risk.
Wealth Advisors of Tampa Bay is a fee-based firm that requires that you have $100,000 in investible assets.
You can expect the following working with Wealth Advisors of Tampa Bay:
- A team that will remain available and consistently helpful no matter what your financial needs are.
- A large library of resources to help you better understand your current financial situation and where your portfolio might be headed.
- Plenty of different services offered and options to choose from, ensuring that your experience will be one well-suited for you.
3) Bayshore Capital Advisors, LLC
Bayshore Capital Advisors, LLC is the much more exclusive option for any interested readers, and they effectively work exclusively with high net worth families and individuals. With $237 million in assets and a history dating back to 2001, it shows that they don’t work with many clients, but they give every client the full attention they deserve.
They are a bit more active with their investment management than what you might find with other firms, but you’ll still find a great deal of care and caution in their decision-making process, and risk and the needs of your portfolio will always be part of the equation.
Bayshore Capital Advisors, LLC is a fee-only firm that requires that you have $20 million in investable assets.
You can expect the following working with Bayshore Capital Advisors, LLC:
- An experience that is very much like a partnership.
- A team that knows very well how to work with wealthier families and individuals.
- The use of outside resources to gain an advantage when planning or adjusting your portfolio.
4) Rutherford Asset Planning
Our fourth choice for St. Petersburg is Rutherford Asset Planning, with $168 million in assets under management. While they are small yet highly effective with only two advisors, don’t let that stop you from thinking they can provide you with whatever advisory services you might need. In business since 1986, this firm has a history of happy and satisfied clients.
They focus on the long-term for their clients and shy away from trying to time the market or jump on short-lived industry trends. They make sure their investments are solid, with good numbers and good leadership.
Rutherford Asset Planning is a fee-only firm that requires that you have $1 million in investable assets to work with them.
You can expect the following working with Rutherford Asset Planning:
- Services relating to philanthropic planning and giving back to your community.
- Estate planning services that are some of the best in the area.
- A comprehensive approach to planning for your financial future.
5) Truadvice, LLC
Our last choice for St. Petersburg is Truadvice, LLC, which has about $215 million in assets under management and has only been around since 2018. This is a different firm than usual, although they do have hundreds of clients and mostly specialize in helping clients make a better situation for themselves and even aiding other firms in their efforts.
We emphasize again that they are a bit of a different pick than most, and we understand this. However, because of their unique position in the market, we also think that they make a noteworthy addition to this list
Truadvice is a fee-based firm and does not have a stated minimum asset requirement.
You can expect the following working with Truadvice, LLC:
- They are open to trying multiple strategies to best help clients.
- They will focus on building a long-term relationship with you.
- Services that are best for business owners and organizations, whether you need financial guidance, help maintaining a more stable organization, or something else.
Among the above firms, there is no best choice for everyone, just the best choice for you, so the rest of the decision-making process is up to you. Feel free to move back and forth calling these firms, making comparisons and taking notes to compare against your financial goals. You’ll hopefully be working with one of these firms for years to come, so getting it right the first time is vital. That being said, we’re confident that with a bit more research and careful thought you’ll be happy with your selection, and wish you the best of luck with your financial future.