A state like no other, Maryland is close enough to everything that it plays an important role in commerce, politics, culture, and more. Defined in part by the Chesapeake Bay, many people have made their fortunes here, and this can prove burdensome to those who are unprepared or without help. Thankfully, financial advisors and advisory firms can keep people’s wealth safe from uncertain markets and poor decision-making, and there is no shortage of them in Maryland.
But with so many choices, it’s difficult to know which one is the best for you and your specific needs. So, to help you, we’ve taken the time to review the many firms in the state and, applying our rigorous standards, we have chosen the best five.
We hope this list will help you launch your search and find a firm that can guide you towards financial stability and peace of mind. Here are the firms we’ve selected as well as more information on each one.
1) Chevy Chase Trust Company
Our top choice and an absolutely massive firm with just under $30 billion in assets under management, Chevy Chase Trust Company, founded in 1997 and based in Bethesda, is a very exclusive firm that primarily handles trusts and investment management for its clients. Regularly receiving awards and top rankings from financial publications, the firm’s success comes from its attention to detail and the special care it gives to the client-advisor relationship.
Advisors will diversify assets as much as possible for their clients, and they will customize portfolios and strategies based on client preferences. They work with clients of many different needs, and they understand there is no “one size fits all” approach to investment management.
Chevy Chase Trust Company is a fee-only firm that has a $3 million account minimum.
You can expect the following working with Chevy Chase Trust Company
- Nearly unmatched service quality when it comes to working with trusts, endowments, and institutions.
- A focus on long-term trends and themes that will provide the best returns for clients.
- A willingness to try out and work with bold yet well-researched ideas.
2) 1919 Investment Counsel
Our second choice is the Baltimore-based 1919 Investment Counsel, a firm with 100 years of history and $11.25 billion in assets under management. With locations in six other states and the ability to support clients better than the competition regardless, the firm focuses mainly on providing excellent investment advice and wealth management services.
In general, advisors work to preserve their clients’ wealth above all else while also making it grow, but they are also very willing to listen to the client and change the experience and services to better fit their needs.
1919 Investment Counsel is a fee-based firm that has a $2 million minimum asset requirement.
You can expect the following working with 1919 Investment Counsel:
- Departments that specialize in a distinct type of investing, such as a socially responsible investing plan or one that is more globally focused.
- Excellent services for businesses and institutions.
- A global approach and a willingness to research and try out ideas not often used by competing firms.
3) Bronfman Rothschild
Our third selection is the Rockville-based firm Bronfman Rothschild, which has $6.14 billion in assets under management and a staggering number of advisors under its employ, many of whom have top-level certifications in their respective specialties. Making a lot of waves and creating a lot of press within the industry, the firm primarily provides investment management and financial planning services, and it helps organizations with retirement plans.
Advisors create portfolios for each of their clients based on risk-aversion, as well as what he or she feels is best for the client, as well as other factors. But no matter what, they choose individual investments very carefully after a great deal of research.
Bronfman Rothschild is a fee-based firm that has no stated minimum account size, but certain programs and services may have a recommended minimum.
You can expect the following working with Bronfman Rothschild:
- An impact investing program that complements existing strategies and that is wide-reaching.
- An overall company strategy that admits it’s not possible to know everything but that the more data it has the better it can make decisions.
- Experience working with many different types of clients and situations.
4) Greenspring Advisors
With a focus on clear communication and accountability, as well as $3.22 billion in assets under management, Greenspring Advisors is our fourth choice. Based in Towson, Greenspring has a well-qualified advisory staff and works heavily with individuals, providing services that range from education planning to more standard tax and retirement planning. It also provides corporate retirement plan services.
Your advisor will use different asset types as necessary, always ensuring that they support your overall goals. Keeping both the client and advisor on the same page is an important part of the way this firm approaches financial planning.
Greenspring Advisors is a fee-only firm that has no minimum account or asset requirement but that does have a minimum annual fee of $5,000 (divided into four quarters).
You can expect the following when working with Greenspring Advisors:
- The ability to make complex situations and concepts sound relatively simple to clients.
- Heavy amounts of oversight, training, and research on the part of the firm.
- Plenty of additional resources that clients can use to better educate themselves as to the market and investments.
5) A.G. Campbell Advisory
With just $288 million in assets under management, our final choice, A.G. Campbell Advisory, is a much smaller firm than our other selections. Based in Baltimore, the firm’s advisors will invest your money as they would their own. It primarily offers financial planning and investment management services for its clients.
As a firm, A.G. Campbell Advisory usually looks towards long-term goals for investments while also seeking out opportunities in the market, knowing asymmetries still exist and can be capitalized upon.
A.G. Campbell Advisory is a fee-only firm that has no minimum account or asset requirement.
You can expect the following working with A.G. Campbell Advisory:
- A firm with strong values among all its staff. You should never have to worry about even the slightest hint of a secondary agenda or a lack of transparency.
- Regular predictions and updates regarding your investments, allowing you to make further decisions and adjustments.
- An advisory approach that is as educationally-focused as it is direct advice.
These are some large firms and this selection only scratches the surface of what’s available throughout the state. So, while we feel confident these firms are a great place to start, we also encourage you to search more locally if you live near one of the larger cities in the state. But we’re still certain you will find a great choice among the firms listed above, and we recommend you get in touch with some of them today to start moving in the right financial direction.