Spokane is a great city to live in, and there are many ways people have found their success there, considering its history as a trading center from the very beginning. There are more industries at work in the city than we can list, and yet no matter where your wealth comes from, we suspect that you could use the services of a financial advisor in order to make sure that you are on the right path to future financial security. Yet which one do you choose? That’s what we’re here to help you with.
Let’s have a look at our top five best financial advisors for Spokane, WA:
1) Northern Capital Management
Founded in 1992 with about $300 million in assets under management, Northern Capital Management is known to offer a comprehensive range of investment and wealth advisory services. They provide services such as asset management, portfolio management, financial planning, and rollover services for their clients. They also offer special programs and retirement plans for businesses.
It mainly targets big portfolios and caters to all types of clients including families, individuals, foundations, and corporations, although it should be noted they have no account minimum to work with them. It’s a fee-based firm with the net worth of the average client standing at $1 million.
Northern Capital Management can be a good company if you need a team of professional financial advisors to manage your wealth. It only charges a 1 percent fee on assets under $3,000,000. The fee falls down to 0.75% thereafter. Plus, the client portal is also very easy to use. You will have no difficulty in understanding how your assets have been allocated.
2) Quantum Financial Planning Services, Inc.
Founded in 1979 with around $320 million in assets under management, Quantum Financial Planning Services, INC. is one of the oldest financial service providers in Spokane. It has a no minimum policy, but you will have to pay an annual fee of $2,400 if your balance falls below $300,000.
The firm is known to help clients implement a tailored and comprehensive financial plan. It’s suitable for individuals and families but also caters to retirees. Its main services include financial planning, asset allocation, 401(k) planning, estate planning, social security planning, disability insurance planning, and retirement planning.
The company has six certified financial planners onboard. Working with the company will give you access to rich resources that can help you make sound financial decisions. Additionally, the client portal is also very detailed. The firm uses strategic asset allocation as its main strategy. It’s based on modern portfolio theory and stresses on diversification to reduce the risk. While the company mainly invests in mutual funds, it also provides advice on bonds, stocks, and other investment options.
3) Vickerman & Driscoll Financial Advisors Inc.
Founded in 2000 with about $25 million in assets under management, Vickerman & Driscoll Financial Advisors mainly provides financial planning, tax preparation and consulting, and estate planning services. There is only a $5,000 minimum account requirement to work with them, but there is a minimum annual fee of $2,000.
The firm uses different strategies to invest your money. For example, it typically goes for ETFs and mutual funds when it comes to smaller investors. The team has developed different models to determine the overall allocation of assets.
Like most firms, it also uses diversification to mitigate risk. The team has created a unique system, called MyBucketSystem, that is designed to calculate monthly retirement income. It can be very helpful when it comes to understanding your wealth after retirement.
4) Ten Capital Investment Advisors
Despite being a new firm (founded in 2011), Ten Capital Investment Advisors is one of the most popular options in Spokane and has about $300 million in assets under management. Its main services are financial and retirement planning.
It’s different from most other companies in the region, as it’s one of the few to follow a fee-only model. The annual fee is $5,000, which is quite a bit. You should have at least $400,000 to invest for the fee to make sense when compared to other firms.
Like most firms today, it also reduces risk by investing in multiple streams. It allocates assets based on your objectives and market conditions. Its portfolios consist of mutual funds, public securities, ETFs, bonds, and stocks. Additionally, it also identifies the top investment team or manager for each subcomponent.
5) Asset Planning and Wealth Management
Asset Planning and Wealth Management has skilled and experienced staff offering comprehensive services. It was founded in 1997 and has about $100 million in assets under management. It primarily performs wealth management and asset planning services. The firm mainly works with individuals but also caters to families.
While there is no minimum asset requirement, there is a $5,000 fee if you do not meet a certain balance. It is worthwhile to note that you can expect no conflicts of interest with this firm.
Working with the firm is quite easy. You will be given a policy statement with information regarding your assets. The firm primarily invests in mutual funds and individual securities, and investments are reviewed every quarter.
There is so much to do in Spokane that it can get confusing, and someone with a busy life like yours might not have the time to perform the research required to make the perfect decisions could most likely stand to benefit from the services of one of the firms above. Not every firm will work for every individual, so we ask you to make sure that you find one that works with your needs and budget. We hope that you find exactly what you’re looking for soon.