When picturing life in Idaho, those who are from elsewhere will probably first think of the state’s mountainous landscapes, untouched wilderness, and many outdoor recreation areas. But when we think of Idaho, we, of course, think of its stunning natural beauty, but we also think the economic growth the state has experienced in recent years thanks to expanding healthcare and manufacturing sectors. We also think of the many successful individuals, such as yourself, that flock to Idaho and call it home.
However, no matter where you live, ensuring this success lasts the rest of your life requires lots of hard work and close attention to detail. You could worry about investing your money yourself, but you will probably be more successful, and slightly more sane, if you allow a skilled financial advisor to do it for you.
Fortunately, there are many great financial advisory firms across the state of Idaho. But since this is such an important decision, and because you should make it with all the information you can find, we’ve applied our rigorous standards to the many firms in the state and come up with a list of the best five. Read on to find out who made the list and why.
RBC Wealth Management
One of the world’s largest financial advisory firms, RBC Wealth Management has over $742 billion in assets under its management. The firm has been operating since 2008 in about 200 locations across 40 states. In Idaho, there are branches in Ketchum, Boise, and Eagle. In addition to working with individuals, they also assist retirees, corporations, business owners, and many other institutions.
Because of the size of this firm, there will be no shortage of data behind the investment recommendations your advisor makes. Plus, the firm’s considerable resources allows it to provide educational material that will help make you a smarter investor.
There is no overall investment strategy at this firm. Instead, your advisor will sit down with you and listen to your needs so that they can create a financial plan designed specifically to your life.
RBC Wealth Management is a fee-based firm that has an account minimum requirement that starts at $2,500, which makes this an exceptionally accessible firm for its size.
You can expect the following when working with RBC Wealth Management.
- A personalized approach to financial advising that you might not expect from a firm of this size and with this many clients.
- Different account minimums to help investors of all levels put their money to work.
- A strict, standardized code of ethics that ensures you’re receiving impartial advice that is truly in your best interest.
Edelman Financial Engines, LLC
Another national firm with a strong presence in Idaho, Meridian-based Edelman Financial Engines, LLC is second on our list with $205 billion in assets under management. They offer services related to investment management, financial planning, money management, and retirement planning. It’s a reputable firm that has even received recognition from Barron’s as one of the top independent financial advisors in the U.S.
The best thing about this firm is the fact that it offers a multitude of services that touch on the many different areas of investment management, financial planning, and retirement account management. This ensures that its services will meet almost each client’s needs despite the individual variations.
Edelman Financial Engines, LLC is a fee-based firm that has a $5,000 minimum account requirement to work with them. However, this might change depending on who you are. For example, institutions are supposed to make an investment of at least $500,000.
You can expect the following working with Edelman Financial Engines.
- Advisors with lots of experience dealing with all sorts of individuals in different situations, equipping them with the skills they need to help you the most.
- A firm that prefers working with long-term strategies to ensure maximum returns and minimum risk.
- A heavy emphasis on diversification that works in the best interest of their clients at all times.
Mountain Pacific Investment Advisers, Inc
Located in Boise, Mountain Pacific Investment Advisers, Inc has more than $1.13 billion in assets under its management. Plus, they have 40+ years of experience in managing portfolios for people of all walks of life, which means they have likely seen something similar to your case and have a blueprint to help you find success.
However, despite this, your advisor will still use a singular focus and customized approach when creating your portfolio. Your goals and priorities come first, and your advisor will help you create a plan that addresses them directly.
Mountain Pacific Investment Advisers, Inc is a fee-only firm that has a $500,000 minimum account requirement for new clients.
You can expect the following from Mountain Pacific Investment Advisers.
- A listening firm that cares about helping you transition from tough economic times to financial success without being profit-driven.
- Customized investment guidance according to your financial ideas.
Another Boise firm, Berkeley, Inc, which was founded in 1996, currently has a bit more than $224 million in assets under management. In terms of services, they offer asset management, consulting, estate planning, retirement planning, education funding planning, strategic tax planning, and cash flow management.
By working with this firm that has more than 20 years of experience, you can expect financial planning and investment management services that will safeguard your wealth for future success. They respond to your needs as they arise throughout all the financial phases with them, but they will also help you stay focused on your long-term goals, something that is important if you hope to achieve long-term financial stability and peace of mind.
Berkeley, Inc is a fee-only firm that has no minimum account to work with them. However, you’ll be required to pay a $2,500 minimum annual fee when you forge a working relationship with them, which makes their effective minimum somewhere in the $200,000 range.
You can expect the following working with Berkeley.
- An initial face-to-face meeting to discuss your financial situation ensure you’re comfortable with your plan terms.
- Extensive experience in the financial world that will make it easier for you to manage turbulent economic times.
Onyx Financial Advisors, LLC
Onyx Financial Advisors, LLC, which is located in Idaho Falls, has more than $165 million in assets under its management.
Generally speaking, this firm takes a more holistic approach to financial planning. This means the will help you look for opportunities to make money, but they will also help you allocate your assets so that you spend less in taxes and fees. This is a long-term approach that generally relies on passive investing, so keep that in mind when considering this firm.
Onyx Financial Advisors, LLC is a fee-only firm that has a $500,000 minimum account requirement to work with them, which means their primary focus is on high-net-worth individuals.
You can expect the following while working with Onyx Financial Advisors.
- An advanced understanding of the tax code that will help you minimize costs and improve the profitability of your portfolio
- An investment philosophy grounded in academic research that helps to distinguish true opportunities in the market from short-term fads that will not deliver long-term results.
Idaho is a state with no shortage of firms, especially in the Boise area. But not all of these firms meet our exacting standards, which is why we recommend you start with those on this list. However, there’s no such thing as being too informed when making this decision, so make sure to do your own research and to meet with several advisors before settling on a choice. In the end, we hope this list has helped you come closer to achieving financial stability, and we wish you nothing but continued success in the years to come.