One of the oldest cities in the country and the capital of Virginia, Richmond is a very important place in the region and a major manufacturing hub for chemicals, plastics, fabricated metals, packaging, paper, beverage, and tobacco products. They have a rich history and many of the most successful and wealthy people in the country make it their home. With these individuals alongside entrepreneurs and those who have recently come into wealth, Richmond has a great need for excellent financial advice. Fortunately, there are plenty of firms ready to offer it.
Here are our top five choices for financial advisory firms in Richmond, Virginia:
Heritage Wealth Advisors, LLC
With more than $1.37 billion in assets under its management, Heritage Wealth Advisors, LLC primarily works with individuals, families, business entities, trusts, estates, retirement plans, and non-profit organizations. They offer a comprehensive menu of services that includes financial planning, investment management, philanthropic planning, and tax planning and preparation.
They have a team of advisors who seek to provide you with professional training and development so that you’re wise when it comes to choosing investments that will suit your preferences and needs. They don’t just direct you or create portfolios; they educate you first on everything that might be involved in the process.
Heritage Wealth Advisors, LLC is a fee-only firm that has no set minimum account requirement to work with them.
You can expect the following working with Heritage Wealth Advisors:
- Educative programs to keep you well-informed.
- The option of creating certain restrictions regarding investing in specific securities.
- The use of diversified portfolios.
Wealthcare Capital Management, LLC
Wealthcare Capital Management, LLC has nearly $1.34 billion in assets under its management, and primarily works with high net worth individuals. Their client base also includes businesses, trusts, estates, foundations, endowments, retirement plans, charitable institutions, and other investment advisors.
They are flexible and qualified to handle complex financial problems. With the help of the GDX36O program, the firm offers maximum flexibility in optimizing for client goals.
Wealthcare Capital Management, LLC is a fee-only firm that has no set minimum account requirement to work with them.
You can expect the following working with Wealthcare Capital Management:
- A goal-driven process that will provide maximum returns over time.
- Access to advisor tools that help you navigate your portfolio.
- An experienced team of advisors that provide exceptional services to clients.
Kanawha Capital Management, LLC
Founded in 1989, Kanawha Capital Management, LLC is the oldest firm on our list and has a bit more than $938 million in assets under its management. They can handle anything, no matter how complicated your financial situation is. They will also follow-up with you until you’re completely satisfied.
Their client base includes individuals, corporations, charitable organizations, pension and profit-sharing plans, trusts, and estates. They employ a probabilistic approach on their client’s portfolios that are also subjected to stress testing to determine how well the executed plan will withstand unfavorable settings.
Kanawha Capital Management, LLC is a fee-based firm that has a $500,000 minimum account requirement to work with them.
You can expect the following working with Kanawha Capital Management:
- A focus on broad diversification. They use three approaches: equity, fixed-income, and balanced.
- A firm that works with charitable organizations.
- Additional helpful services such as planning regarding unexpected life changes and family wealth issues.
SBK Financial, Inc
With nearly $559 million in assets under its management, SBK Financial, Inc primarily works with affluent families and high-net-worth individuals. Some of the services they offer are financial planning, investment management, and tax services.
They provide in-house advisory services that involve independent research as well as the use of advanced technology to save you time and add value. They are aware that emotions can influence your financial decisions. They hope to prevent this from happening, and have educational resources dedicated to this end.
SBK Financial, Inc is a fee-only firm that has a $1 million minimum account requirement.
You can expect the following working with SBK Financial:
- Meetings to review the progress of your portfolio.
- Regular rebalancing of your portfolio when the market changes.
- A warm, relationship-oriented approach working with you.
Canal Capital Management, LLC
The newest firm on our list is Canal Capital Management, LLC, founded in 2012 with about $377 million in assets under its management. The firm works with families, business owners, professionals, entrepreneurs, executives, and institutions. The services they offer clients include financial planning, investment management, family office services, business consulting, real estate planning, and tax planning.
The firm is 100 percent employee-owned, making them more invested in your success. They provide you with a simple, understandable process for each portfolio.
Canal Capital Management, LLC is a fee-based firm that has no set minimum account requirement to work with them.
You can expect the following working with Canal Capital Management:
- An experienced team of advisors with diverse backgrounds and complementary skillsets.
- Regular follow-ups on each client’s portfolio to ensure maximum earnings.
- The ability to handle complex financial problems.
Be wise by getting a top financial advisor who will be with you every step of the way. Living in Richmond can be tricky for some, but the financial aspect doesn’t have to be a problem. We recommend that you do some additional research on each firm you might be interested in working with before selecting your perfect fit. We wish you the very best in all future financial dealings.