The state of New York is vast and lies far beyond New York City. Financial life in the state is unparalleled, and there are wealthy families and individuals spread out throughout the region. Yet what should you do if you need financial guidance and help planning you and your family’s future in the Empire State? A financial advisor is likely just what you need, and we’ve combed through all of them to find the best.
Here are our top five choices for financial advisory firms for the state of New York:
1) Silvercrest Asset Management
The top firm on our list is New York City’s Silvercrest Asset Management, managing a massive $21.3 billion in assets for its clients. A very prestigious firm (one of the best-rated in the country) that employs only the best advisors and staff, this exclusive firm knows how to cater to and work with the very wealthy and families that look to extend their wealth over generations.
Their advisory services are comprehensive, and no matter what you ask of them you should be able to expect best-in-class service.
Silvercrest Asset Management is a fee-only firm that has a $10 million account minimum.
You can expect the following working with Silvercrest Asset Management:
- The use of top-class outside resources when necessary in order to secure you the best possible returns.
- A high level of experience working with estate management and the problems that arise maintaining generational wealth.
- The very best advisors in the industry and the highest professional standards for their staff.
2) Tiedemann Advisors
Tiedemann Advisors, with $19 Billion in assets under management, is our second choice. Also, from New York City, it may be a bit more accessible than our other two New York City selections, and it has a sizable staff to help clients reach their financial goals. They are a firm with a great reach that continues to extend, if recent mergers are evidence of anything.
They take the big-picture approach when it comes to portfolio management and investment advice, looking at overall trends in the worldwide market as opposed to the day-to-day goings on of singular companies. They are also set up for long-term gains for their clients as opposed to quick profits.
Tiedemann Advisors is a fee-only firm that has no strict account minimum, although you will want to double check with the firm about this.
You can expect the following working with Tiedemann Advisors:
- A high value placed on your input regarding where your money is invested.
- Ethical and positive impact-focused investments available for those concerned about the societal implications for their investments.
- A long-term relationship with their advisory team.
3) BBR Partners
Yet another massive firm from New York City, BBR Partners is another firm that specializes in ultra-high net-worth clients, perhaps even more so than Silvercrest. Founded in 2000 and having $14.2 billion in assets under management, the firm provides tax and insurance planning services, extensive investment services, and additional services as their clients need them.
A boutique firm in practice if not in nature, customization and a multifaceted approach when it comes to managing their clients’ wealth are their keys to success.
BBR Partners is a fee-only firm that requires clients to have $20 million in investible assets, making it the largest requirement on this list.
You can expect the following working with BBR Partners:
- Extensive experience working with ultra-high net-worth clients
- Regular comprehensive reports regarding your assets that are still accessible to the average reader.
- Educational efforts and resources to make sure you and your family can easily know more about the financial world.
4) Courier Capital
Based in Buffalo and perhaps the most accessible choice on this list (the average person reading this will want to take note of them), Courier Capital is a firm founded in 1967 with over $1.68 billion in assets under its management. They have plenty of connections with other types of firms and service providers, allowing it to provide more services than many firms of its size. With that said, those looking for a more independent firm might want to look elsewhere.
Courier Capital is a fee-based firm that has no minimum asset requirements or annual fee totals, making it a very accessible choice.
You can expect the following working with Courier Capital:
- Connections and relationships with other service providers that will allow you to receive whatever help you need.
- An in-depth and discussion-based onboarding process.
- High net-worth clients will receive a competitive level of attention and heavily personalized services.
5) Howe and Rusling, Inc.
Based in Rochester, Howe and Rusling rounds out our list with $1.14 billion in assets under management. Mostly focusing on investment management and advice, the firm is extremely client-focused and makes every effort to maintain maximum client satisfaction. The firm has detailed processes for services such as retirement and college planning, and uses prediction tools during the financial planning process.
The firm focuses on a few core types of portfolios, but they are open to alternatives for very high net-worth clients. Their portfolios are recommended based on client timelines and objectives.
Howe and Rusling is a fee-only firm that requires $500,000 in investible assets.
You can expect the following working with Howe and Rusling:
- Portfolios based on extensive research that they will adjust based on market trends both expected and actual.
- Experience working with families and multiple generations of clients.
- Excellent services and advice regarding fixed income management, trade income maximization, and utilizing various sectors in a portfolio.
This was a tough list to make, and in New York City alone there are more firms than most regions have combined, so if you want to explore further, we completely understand. We hope that you find an excellent choice among the options listed above and encourage you to check out our more city-focused lists as well. We hope that you manage to find the right fit for you and your family, and we wish you nothing but success on the financial road ahead.