A one-time boom town that has remade itself into a center for happy and sustainable living, Rochester residents live in a large economy and next to a beautiful view of Lake Ontario. Birthplace of many successful companies, there are likewise quite a few people like yourself who have earned or inherited wealth and are wondering what to do next. This is where a financial advisor can help a great deal.
Here are our top five choices for a financial advisor for Rochester, New York:
1) Cobblestone Capital Advisors
Cobblestone Capital Advisors, a firm with $1.78 billion in assets under management founded in 1988, is our top choice for Rochester and an all-around excellent firm with plenty of well-qualified staff ready to serve you and your family. Focused on high net-worth individuals as well as investments, they still offer the full standard range of services.
When managing investments or providing investment advice, Cobblestone will use a mixture of long and short-term growth strategies to balance risk and gains.
Cobblestone Capital Advisors is a fee-only firm that has no noted minimum account requirement, although you will want to consult with them regarding their fees.
You can expect the following working with Cobblestone Capital Advisors:
- A mixed, adaptable investing strategy balanced (and later rebalanced) based on both your short and long-term goals.
- Family office services lighten the general burden on your family when it comes to financial decision-making.
- A multidisciplinary approach that is willing to tackle every facet of a client’s financial health in order to ensure peace of mind.
2) Howe and Rusling, Inc.
Founded in 1930 with a rich history behind it, Howe and Rusling takes our number two spot with $1.14 billion in assets under management. This firm focuses mostly on investments and making educated market decisions. They have detailed processes for retirement planning, use advanced prediction tools for financial planning, and can help with problems such as college planning as well.
They use a few core types of portfolios for their clients, although they are open to alternatives when it comes to their very high net worth clients. They have portfolios for a few objectives such as fixed income or equity-focused management, and further variations of those.
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:
- Well-researched portfolios that will adjust quickly based on the ebbs and flows of the market.
- A history with excellent service regarding fixed income management, maximizing trade income and utilizing different sectors to their maximum potential.
- Experience working with families and generations of clients.
3) Sage, Rutty, & Co
Another older firm (founded in 1915), Sage, Rutty, & Co. is a more accessible firm that serves both high net-worth individuals and non-high net worth individuals. It has $971 million in assets under its management. It also notably has a larger staff when compared to other firms in the region, employing advisors with several different types of certifications to better serve the needs of the client.
It might be better to think of the firm as a collection of individuals instead of as a singular firm with a singular approach. While standards are high across the board, you might find investment approaches differ from advisor to advisor.
Sage, Rutty, & Co. is a fee-based firm that has a $10,000 minimum for a basic account.
You can expect the following working with Sage, Rutty, & Co.:
- A collaborative and inclusive approach when working with clients. Whatever you need, you’ll have access to the right person.
- Plenty of educational resources and seminars available to interested clients.
- A diverse range of advisors to work with, each with their own areas of expertise.
4) Seneca Financial Advisors
Seneca Financial Advisors, with $309 million in assets under management, is our fourth choice for Rochester. Working with plenty of different types of individuals, they give you a single point of contact for your advising needs, but the entire team is working for you, whether you need tax management help, general financial planning services, or investment and retirement planning.
Seneca relies heavily on a philosophy of diversification, not only selecting a variety of asset classes but using an open architecture platform to provide a range of managers for your assets as well.
Seneca Financial Advisors is a fee-only firm that has no notable requirements to work with them.
You can expect the following working with Seneca Financial Advisors:
- Available and communicative advisors should you or anyone in your family have any questions.
- A heavy level of management and oversight to ensure that your portfolio is meeting benchmarks.
- A large range of planning services including health care cost planning and estate and gift planning.
5) Northlanding Financial Partners
Rounding out our list is Northlanding Financial Partners, a firm comprised of extremely well-qualified individuals with $254 million in assets under management. A relatively new firm founded in 2013, they nonetheless act as an experienced organization and have grown quickly to reflect that. They have online planning services and are a great option for those who might plan on traveling often.
They are more flexible in their investment strategies than most firms, often taking an approach they deem right for you based on your needs, goals, and level of risk-aversion.
Northlanding Financial Partners is a fee-based firm that has no set account minimum.
You can expect the following working with Northlanding Financial Partners:
- An experienced staff with strong values that will put forth every effort to help you live a more financially successful life.
- A variety of portfolios and investment strategies that you can utilize.
- Easy access to your information and easy access to your advisor if needed.
There is no shortage of firms in Rochester, but they aren’t all made equally. We hope that one of the above selections piques your interest and that you find the right choice for you and your family. We understand that this can be a difficult decision, so we implore you to take your time and do more research as needed. We wish you the best of luck with any future financial endeavors.