There is more to Nevada than Vegas, precious metals, and desert. It is a land with more individual freedom than most states and a place where the tourist can be royalty, if only for the duration of their stay. Yet there is more established wealth and an entrepreneurial spirit in the state, which often leads to the need for guidance when it comes to finances. It can be difficult running a business or enjoying life while also keeping track of a large portfolio. This is where a financial advisor can come in, and fortunately, there are plenty to go around in the state.
To help you find the right advisor for you without investing hours of your time researching, we’ve applied our rigorous standards to the various firms around the state and come up with a shortlist of the best candidates. Here are our top five choices for financial advisory firms in Nevada:
1) Wealth Consulting Group
Our top choice for Las Vegas and Nevada in general, The Wealth Consulting Group is a firm founded in 2014 that has a very large $1.33 billion in assets under management. They have offices throughout the country, but they keep their headquarters in Las Vegas and have the staff required to compensate for their large reach. Furthermore, they employ many specialists to make sure clients get exactly what they need.
They primarily care about wealth preservation and risk-management, although they have many other concerns they’ll weigh based on your communication with them about your financial goals.
The Wealth Consulting Group is a fee-based firm that has a $15,000 account minimum for the most basic account type. The minimum goes up from there all the way to $250,000.
You can expect the following when working with The Wealth Consulting Group:
- A large professional network to secure services and expertise they might not have on payroll.
- A collaborative approach to helping you achieve your goals; they’ll be happy to work with other people under your employ.
- A multi-faceted approach to advising which allows you to get advice on every potentially concerning area of your fiscal life.
2) Arista Wealth Management
Another Las Vegas firm, Arista Wealth Management, which has $526 million in assets under management, works primarily with non-high-net-worth individuals, although they also work with other types of clients. A smaller firm in terms of staff, it still has the ability to help most people with their financial needs.
They use a mostly long-term approach when it comes to investing, with some deviations based on client feedback and opportunity. They also seek to reduce the fee burden for their clients.
Arista Wealth Management is a fee-based firm that usually has a $250,000 account minimum.
You can expect the following if you work with Arista Wealth Management:
- Business planning and similar services for business owners or entrepreneurs who need some of those burdens relieved.
- Plenty of online resources that help you educate yourself when it comes to the financial world.
- A high-quality online platform, as well as partnerships with good services and product providers.
3) American Wealth Management
Our next pick is American Wealth Management, a firm from Reno that specializes in working with non-high-net-worth individuals. They have been in operation since 1988 and have $327 million in assets under management. They like to know and consider the total financial health of their clients, and their staff is on average one of the most experienced in the state.
The firm is conservative when it comes to investing, and while they balance risks and opportunities, they will use technology and careful thought to pick out the best options for their clients.
American Wealth Management is a fee-based firm that has a $300,000 minimum account requirement to work with them.
You can expect the following working with American Wealth Management:
- More experience than most other firms working with organizational clients.
- Open communication and transparency whenever you work with the firm.
- Different general investment strategies for different types of clients.
4) Legacy Wealth Planning
Legacy Wealth Planning, based in Reno, is our fourth choice for Nevada. An extremely young firm that was just founded in 2017, it currently has $212 million in assets under management. Advisors provide investment management, financial planning and retirement services, and education planning services. Within each of these major categories, they use plenty of options and have many strategies available depending on your needs as a client.
When working with investments, Legacy Wealth Planning uses some model portfolio as well as more custom options for clients who need something personalized.
Legacy Wealth Planning is a fee-based firm that has no noted minimum requirements to work with them.
You can expect the following from Legacy Wealth Planning:
- Education planning options that go above and beyond what one would expect.
- A focus on preserving wealth for their clients, knowing how difficult it can be to reacquire over time.
- Connections to other financial service providers that provide services such as trust planning.
5) Kingsbridge Wealth Management
We wanted to make sure a more selective firm made the list, and Kingsbridge Wealth Management fits the bill. With $186 million in assets under management and a whopping $5 million minimum requirement, this Las Vegas-based firm serves only the wealthiest Nevada residents.
They will use a different approach for every client, and they will be willing to use creative ideas when coming up with a plan, especially when confronted with a rapidly changing financial landscape.
Kingsbridge Wealth Management Group is a fee-based firm that has a $5 million account requirement, making then a very exclusive option.
You can expect the following working with Kingsbridge Wealth Management Group:
- An excellent family office that can help with generational wealth and similar concerns.
- A high level of comfort in trying new ideas and approaches to advice and investment.
- A very well-qualified staff that can easily provide focused, specialized advice.
If you can think of it in Nevada, there is probably nothing stopping you. Yet that doesn’t mean you don’t need advice to make sure you’re on the right financial path. A well-vetted financial advisory firm like one of the ones listed above can be the difference between success and instability in the coming years, and you owe it to yourself to at least investigate the above recommendations further. No matter your final choice, however, we hope you keep finding success in all of your financial endeavors and that you find exactly what you’re looking for.