Bordered by the Great Salt Lake on one side and beautiful mountains on two others, Salt Lake City might be one of the most interesting places to live on earth. A city with a rich industrial history and currently hosting a wide variety of economic activities and businesses, plenty of people come here to find success, and many, perhaps even you, find it. Yet success takes work to maintain, and a financial advisor is the best help you can get with this difficult yet rewarding process.
In Salt Lake City, there are many different financial advisory firms to choose from. Knowing which one is right, however, is tough, which is why we’ve done this analysis; we don’t want you to waste a single minute while looking for help in planning your financial future. So, read on to learn more about our top five choices for financial advisory firms in Salt Lake City, Utah:
1) Albion Financial Group
Our top choice for Salt Lake City with about $1 billion in assets under management, Albion Financial Group is a firm that was founded in 1982 and that works with a large staff to provide a wide range of services to clients, including tax, estate, financial, retirement, philanthropic, insurance, and divorce planning services.
They prefer to tailor portfolios to each client or provide general advice, depending on the account size. They are, however, primarily focused on the long-term goals of you and your family.
Albion Financial Group is a fee-only firm that has no set account minimum to work with them, although most if not all accounts are above $25,000.
You can expect the following if you work with Albion Financial Group:
- Special programs for women as well as those with a relatively low net worth.
- A collaborative yet focused environment that seeks to provide the benefits of a whole team of advisors while minimizing the disadvantages of decentralization.
- A focus on good decision-making processes for their clients.
2) The Insight Group
Our second choice is The Insight Group, a somewhat more exclusive firm that works more with high-net-worth individuals. They focus primarily on financial planning and investment management, were founded in 1993, and have $705 million in assets under management. They also like to focus on the individual, and they treat the client, not the portfolio, as most important.
They use researched-oriented processes when investing and seek to maintain tax-efficiency as well as minimize fees for their clients. They also rely heavily on technological tools to stay on top of potential opportunities.
The Insight Group is a fee-based firm that has a $1 million minimum account requirement.
You can expect the following while working with The Insight Group:
- A team-based approach that will have you working with multiple professionals at the firm.
- The use of online tools and services to allow you access to as much information and control as possible.
- An emphasis on the integrity of your assets and security.
3) Crewe Advisors
Founded in 2014, our third choice is Crewe Advisors, another more exclusive firm. They currently have $523 million in assets under management, and they focus heavily on wealthy clients and the types of problems they face. They are happy to work with families and provide standard services such as estate planning, philanthropic planning, risk and portfolio management, tax planning, and more.
Advisors will use a variety of investment strategies for their clients, and they will individualize each plan based on stated goals and needs.
Crewe Advisors is a fee-based firm that has a $2 million minimum asset requirement.
You can expect the following working with Crewe Advisors:
- Services specifically designed for entrepreneurs and business owners such as executive counseling and business succession planning.
- Exclusivity, meaning you will be getting special attention from your advisor as long as you are a client.
- Extensive experience working with high-net-worth clients, perhaps more than any other firm on this list.
4) TrueNorth Wealth
One of the few fee-only firms on our list, TrueNorth Wealth has $414 million in assets under management, and while they might have a slightly smaller advisory staff than many firms of this size, don’t let this fool you into thinking they aren’t capable of helping you achieve your financial goals. In addition, the firm also has offices in St. George and Logan, making them a great option for those who travel throughout Utah.
In general, advisors take a comprehensive approach to financial planning and will look at every factor before making conclusions. They also seek to minimize fees and taxes for clients.
TrueNorth Wealth is a fee-only firm that has a $500,000 minimum account requirement.
You can expect the following working with TrueNorth Wealth:
- A commitment to making sure you are always in control of your finances and have transparency.
- A focus on financial planning and making sure you have a solid roadmap.
- The use of academic thinking and experienced strategies for all of their services.
5) Smedley Financial Services
Rounding out our list is Smedley Financial Services, a firm founded in 1982 that has $224 million in assets under management. They provide all of the services one might expect a high-quality firm would, and they can give specialized advice based on your long-term financial goals and current life situation. They can also help those looking to plan for charitable giving or create an income for yourself when you retire.
Advisors at Smedly believe in low-pressure, face-to-face communication that’s designed to figure out what’s the best course for a client. Once this has been established, they will choose a portfolio based on your stated goals and risk-tolerance.
Smedley Financial Services is a fee-based firm that has a $25,000 minimum account requirement.
You can expect the following working with Smedley Financial Services:
- Dedication to maintaining an honest and open advising relationship and always remaining transparent.
- Services that focus on women who are looking to grow their wealth or have better control over their family’s budget.
- A series of trusted partners, tools, and platforms to make investing easier.
We understand choosing a financial advisor can be a difficult decision and that not every firm will be right for every family in Salt Lake City. However, we are nearly certain at least one of the above choices will be an excellent fit. We ask that you think carefully about your financial needs and priorities and meet with several different advisors before making a decision. But whatever your choice, we wish you success in all your future financial endeavors.