While Delaware is a small state in terms of population and area, its friendliness to corporations, specifically chemical and credit card companies, has attracted wealth from near and far. Add in the beaches, race tracks, and world-famous seafood, and it’s easy to see how Delaware has become such an important part of both the regional and national economy.
If you call the First State home, and if you plan to do so for the foreseeable future, you’re in luck. Not only do you have lots of choices when it comes time to pick a financial advisor, but the options available to you are some of the best available. Yet so many choices can actually make this decision even tougher to make.
To save you the time and effort of researching all the different firms in Delaware, we’ve done an exhaustive review and created a list of the best five. Read on to find out which firms made our list and why we consider them to be the best in the state.
Great Valley Advisor Group
Founded in 1986, Great Valley Advisor Group is the largest firm on our list. Currently, it has over $1.15 billion in assets under its management. Because of its size and focus on large investments, the firm typically works with high-net-worth individuals and families, but it also has many pension and profit-sharing clients.
When you become a client at Great Valley, your advisor will work to provide all the support you might need to survive economic changes. Overall, the approach will be long-term, but your advisor will be ready and willing to make adjustments as your needs change and as the market fluctuates.
Be sure to note that this firm doesn’t offer tax services or advice. However, if you are in need of these services, your advisor can recommend some third-party assistance according to your current condition.
Great Valley Advisor Group is a fee-based firm that requires no minimum investment to open an account.
You can expect the following when working with Great Valley Advisor Group:
- Compliance support based on the firm’s 50+ years of experience dealing with the compliance needs of clients.
- Smooth transition assistance from a qualified team with the least amount of disruption as possible.
- Investment strategies based on sound research and your personal goals and ambitions.
Lau Associates, LLC
With about $637 million in assets under management, Lau Associates, LLC is one of the largest firms in Delaware. It works with high-net-worth individuals, charities, estates, trusts, and businesses. The firm provides financial planning and general investment management services. However, additional services are available for those with greater needs, either from the firm itself or from one of its trusted third-party service provides.
Lau Associates advisors are skilled in helping you navigate your financial and personal path. Your first meetings will be open discussions about issues such as goals, expectations, current wealth, and risks. Subsequent meetings will be about adjusting these goals to your current situation and making any changes to your approach that will allow you to reach these goals in an acceptable time frame.
Lau Associates, LLC is a fee-only firm that has no account minimum requirement.
You can expect the following at Lau Associates:
- A globalized approach to investing and wealth management; Lau Associates is always looking for new ways to invest in unique but sound opportunities.
- Assistance creating unity and harmony in your balance sheet as well as in your life.
- High-quality investment, insurance, and banking services.
Affinity Wealth Management
Based in Wilmington, Affinity Wealth Management has nearly $450 million in assets under management. The firm mainly deals with high-net-worth individuals, charitable organizations, pension and profit-sharing plans, and state or municipal governments.
The investment philosophy at Affinity Wealth Management is focused on capital preservation, meaning your portfolio will be designed to achieve high returns with minimum risk. But your portfolio will be constructed based on your specific needs, yet you can expect a mix of the following investments: ETFs (exchange-traded funds), individual stocks, mutual funds, CDs, options contracts, foreign securities, and REITS.
Furthermore, as retirement specialists, Affinity is the firm to choose in Delaware if you’re approaching this final chapter in life. It is a fee-based firm with no minimum account requirement.
You can expect the following from Affinity Wealth Management:
- A tax center that gives you access to recent resources which you can use to prepare yourself for the upcoming tax season.
- A full resource center where you can access educational information and helpful videos that will make you a better investor.
- An investment strategy designed to fit your goals, time tolerance, and risk tolerance.
Daniels + Tansey, LLP
Daniels + Tansey, LLP, founded in 2004, is a financial advisory firm with a bit more than $366 million in assets under its management. Overall, the firm offers five main services:
- Investment advisory
- Financial planning
- Wealth management
- Multi-family office services
- Matrimonial financial planning.
In terms of investment philosophy, Daniels + Tansey advisors try as much as possible to avoid risks and volatility, helping you hang onto your cash and make it grow in a way that will bring your financial goals closer to reality.
The firm also has a team of professionals focused on presenting information as clearly as possible so that you can understand recommendations and make the best decisions for you.
Daniels + Tansey, LLP is a fee-based firm with a $500,000 minimum account requirement.
In addition, you can expect the following when working with Daniels + Tansey:
- A multi-disciplinary team with over 30 years of experience that offers an unwavering commitment to clients’ financial achievements.
- Additional resources that clients can take advantage of to educate themselves and make better financial decisions.
- Experience working in different situations and with many types of clients.
Wealth Management Group
A largely employee-owned firm, Wealth Management Group has more than $223 million in assets under management. It offers clients investment portfolios grounded in Modern Portfolio Theory, an approach to investment that seeks to maximize returns based on your risk tolerance. Because of this, your advisor will place a heavy emphasis on diversification as a way of getting more from your money without subjecting you to too much risk.
Furthermore, advisors at Wealth Management Group seek to provide financial guidance based specifically on clients’ goals and objective. They will take this approach while offering any one of their primary services (retirement planning, estate planning, insurance analysis, cash flow planning, tax management, budget creation, and employee benefit plan management) because, according to Wealth Management Group, your financial plan is strictly yours.
Wealth Management Group is a fee-only firm that requires a $400,000 investment to open an account.
You can expect the following at Wealth Management Group.
- A process for delivering financial services that involve a discovery meeting, an investment plan meeting, and a mutual commitment meeting, all of which are designed to understand what factors should form the base of your investment strategy.
- A holistic approach to financial advising that works to make sure you understand how your decisions will fit into your plan as a whole.
- A commitment to offering diverse solutions to all your financial problems.
You can find many financial firms in Delaware, but the five listed above are the best of the best. However, before you make a final decision, it’s important to make the search process a bit more personal. Get in touch with one or all of the firms above and schedule an initial meeting. From there, we feel confident you will find the advisor who will help you achieve all your financial goals. But no matter which direction you go, we wish you security, stability, and prosperity in the years to come.