With a unique history and a culture all its own, New Mexico is an exciting and vibrant part of the American southwest, and it’s home to many successful individuals such as yourself. However, whether your wealth comes from oil, tourism, or something else entirely, you might want to get a second opinion on how to map out your financial future. Fortunately, this is exactly what a financial advisor can help you with.
Throughout the state of New Mexico, there are countless financial advisory firms, all of which will promise to help you achieve your financial goals. However, with so many options, it’s difficult to know which one is the best choice for you. In an attempt to take out some of the guesswork, we’ve researched the many firms across the state and identified the best.
Here are our top five choices for financial advisory firms for New Mexico:
1) Ulrich Investment Consultants
The distinguishing features of our top choice are that they are comprehensive and work with a wide range of clients and institutions. Founded in 2007 and with a noticeable $1.07 billion in assets under its management, Albuquerque-based Ulrich Investment Consultants can help just about anyone with any common planning problem. To learn more, we highly recommend checking out their website.
They use a great deal of research when managing investments and providing advice. Furthermore, they take a careful and measured approach towards each potential investment, passing that level of risk-management onto you.
Ulrich Investment Consultants is a fee-based firm that has no stated account minimum requirement.
You can expect the following at Ulrich Investment Consultants:
- A high level of trust between the advisor and client.
- Regular monitoring of your portfolio and financial plan in order to make sure everything is on track.
- Highly experienced advisors who have seen the market’s cycle before.
2) REDW Stanley Financial Advisors
Our second choice, REDW Stanley Financial Advisors, is also from Albuquerque. Founded in 1997, it currently has $722 million in assets under management. This firm specializes in providing you with expert financial advice from a large staff of advisors who mostly have the best certifications in the field of their expertise.
In general, the firm has several different levels of management, but they always provide customized plans for clients and work carefully from there, keeping a close eye on investments for clients.
REDW Stanley Financial Advisors is a fee-only firm that has no minimum account requirement, but their rates can quickly become too much for those with fewer assets to invest.
You can expect the following from REDW Stanley Financial Advisors:
- Financial planning services that change in their specialization from taxes to risk aversion to retirement planning.
- A stable and employee-owned firm. More than just that, it is owned by more than a dozen of its employees.
- Institutional planning services for the organizations that need them.
3) John Moore & Associates
A firm more suited for the faithful than any other on this list, John Moore & Associates was founded in 1997 and currently has about $352 million in assets under management. They understand the importance for many of biblical values in everyday life, and they know that investing isn’t void of these obligations. When working with clients, they mostly provide financial planning and investment management services.
They use several models when investing with clients, each of which they will recommend based on your specific risk-aversion and long-term goals. Your investment time frame may also play an important factor.
John Moore & Associates is a fee-based firm that has no stated account minimums to become a client.
You can expect the following if you work with John Moore & Associates:
- Excellent sustainable investing options should you be interested in them.
- A character-focused approach to financial advising, knowing that client behavior is the most important aspect to a fiscal plan.
- Unquestionable integrity on the part of your advisor.
4) Better Money Decisions
With about $109 million in assets under management, the Santa Fe-based firm Better Money Decisions takes the fourth spot on our list. Featured on several well-known news and financial sites, they seek to go beyond the usual investment management services of their competitors and create a truly comprehensive plan for their clients.
Their investment strategy involves trying to find good investments to hold onto in the long term but that also allow for ample diversification. It should also be noted that they don’t chase short term trends or fads.
Better Money Decisions is a fee-only firm that has no known minimum requirements, but you will want to check with them.
You can expect the following working with Better Money Decisions:
- A wide variety of resources including books and a regular podcast to constantly help you be more comfortable talking about and managing your wealth.
- Sustainable investment options available for those concerned about the social or environmental impact of their investments.
- Financial planning and mediation for divorcees to make the process as easy as possible, should those services be needed.
5) Hanseatic Management Services
Rounding out our list is Hanseatic Management Services, a fee-only firm (and this is notable for this list) that has $106 million in assets under management. Perhaps not as qualified on average as some other firms on this list, don’t let that stop you if you like what they have to offer. The firm is primarily focused on providing investment services, so that will likely be the deciding factor for you.
They will vary their approach based on the needs of the client, and they will always keep your goals in mind when making decisions.
Hanseatic Management Services is a fee-only firm that has a $100,000 minimum account requirement for individuals.
You can expect the following working with Hanseatic Management Services:
- Plenty of experience working through the regular cycles of the market and maximizing investor returns in the meanwhile.
- A willingness to work with people of all backgrounds.
- The use of various tools and strategies of their own creation in order to help clients get more out of their portfolio and make better financial choices.
New Mexico is a large state with large swaths of unpopulated territory, which might make it difficult to find a firm that’s the right fit for you. However, we are confident one of the above selections can provide you with what you need, and we also encourage you to consider that there might be a better choice listed for you in one of our city-centric articles. Overall, there is no shortage of advisors, and all it might take you is a bit of legwork now to save your wealth and time for years to come.