The largest Detroit suburb and one of the largest cities in Michigan in its own right, Warren Michigan is surrounded in opportunities and has opportunities right within it. And if you’ve been fortunate enough to make the most of those opportunities and build some wealth for yourself and your family, you owe it to yourself to get help managing it so you can spend less time micromanaging and more time doing things you love or truly want to focus on. A financial advisor would be just what you need, and there are plenty of available ones in the area.
Yet how should you narrow down your choices? If you’re worried about this, let us do most of the work for you. Here are our top five choices for financial advisory firms for Warren, Michigan:
1) Plante Moran Financial Advisors, LLC
With $14 billion in assets under management, Plante Moran Financial Advisors, LLC is in an entirely different weight class than most firms operating in the region, employing hundreds of advisors and working with more clients than one can easily count. They work with many different types of clients and can offer you practically any service or specialized advice type you might need.
They will consult with you to find out your overall financial goals and risk-tolerances (among other things), and then find the advisor that’s just right for you.
Plante Moran Financial Advisors, LLC is a fee-based firm that requires that you have a $500,000 account minimum to work with them.
You can expect the following working with Plante Moran Financial Advisors, LLC:
- Experience working with working professionals.
- The firm offers business transition services if they should be needed.
- Experience working with very wealthy clients.
2) Schwartz & Co.
Our second choice, Schwartz & Co., has $3.48 billion in assets under management and is one of the larger firms operating in the area. While they have only a dozen advisors working for them, they are nonetheless able to provide whatever solutions your financial life requires. They have been in business since 1976 and are based in Bloomfield Hills.
When managing client assets, they focus on the long-term and will use quite a few different investment options, carefully analyzing potential investments with a few different methods.
Schwartz & Co. is a fee-based firm that does not have any strict requirement to work with them, but they do have certain requirements for some services. Additionally, we ask you to double-check as to their fees to see if they are a reasonable option for you.
You can expect the following working with Schwartz & Co.:
- Services for both institutional and individual clients.
- A firm held together with strong family values, putting the client first above their own interests.
- A firm that strongly values is independence.
3) Telemus Capital, LLC
Telemus Capital, LLC is a firm based in Southfield that shows nothing but dedication to their clients and a commitment towards improving their services. This is in part due to their relative exclusivity, so if you’re a wealthier individual, you might find the most help from Telemus Capital. They are excellent in dealing with complex problems and financial situations and have been since their founding in 2013. They have $2.59 billion in assets under their management.
Their investment strategy changes based on the client, who they will work with to determine goals and priorities so that there is no confusion any step along the way. Even still, they are willing to adapt your plan if you change your goals.
Telemus Capital, LLC is a fee-based firm that does not have any minimum asset or minimum account requirements, but it does have a minimum annual fee of $3,750.
You can expect the following working with Telemus Capital, LLC:
- Plenty of helpful guides and resources available.
- Business owners will find services offered with their needs in mind.
- A very thorough planning and asset management process.
4) Advance Capital Management, Inc.
Our fourth choice, Advance Capital Management, Inc., is located in Southfield and has $2.5 billion in assets under management as well as four additional locations. Founded in 1986 by a staff that has a great deal of experience, the firm can provide specialized help and generally group their services into one of three categories.
They primarily use ETFs for client portfolios, but are open to other options based on what the client might want or how the market is behaving.
Advance Capital Management, Inc. is a fee-only firm that has different requirements depending on which services you are interested in.
You can expect the following working with Advance Capital Management, Inc.:
- A hardworking and professional team that will go to great lengths to earn your trust.
- Services offered include financial planning, asset management, and investment advice.
- Many tools on their website to provide you with a better understanding of your financial situation.
5) Starfire Investment Advisers, Inc.
A bit of a smaller firm with only a couple of advisors for their $483 million in assets under management, Starfire Investment Advisers, Inc. serves several hundred clients and has been in operation since 1992. They work with all types of clients and are located in Southfield. They can be a great choice for those looking for low investment management fees for great results.
They customize the investment strategy for each client portfolio based on information provided by the client. They also seek to minimize risk and avoid overvalued investments.
Starfire Investment Advisers, Inc. is a fee-only firm that requires that you have $100,000 to work with them. You may also wish to investigate their fee structures based on the services you’re looking for.
You can expect the following working with Starfire Investment Advisers, Inc.:
- Plenty of helpful resources and tools to help clients understand their financial situation.
- Services include but are not limited to investment planning, retirement planning, college planning, risk management, tax planning, and estate planning.
- A thoughtful and objective approach to financial planning.
While you can certainly manage affairs yourself up to a point, there comes a point where there is simply no better option than to at least get a second set of eyes on your portfolio and start working with a well-qualified financial advisory firm like one of the ones listed above. Not every firm will be best for every person, but if you are aware of your general situation and are willing to do some additional research as needed to learn more about a couple of firms, then there’s no way you can make the wrong call. We wish you the absolute best of luck with your search.