The home of Salt Lake City, the Mormon Church, and so much more, Utah is a state filled with natural beauty and economic opportunity. Its population is growing rapidly, and tourists are increasingly flocking to the state as word of the marvelous mountains reaches the rest of the world. All of this means there are plenty of successful individuals in Utah, and in most cases, we recommend a financial advisor to make sure your financial life is on track.
With so many choices across the state, however, it can be tough to know which one is right for you. To help you, we’ve researched and vetted the many different options and chosen the ones we think are the best. Here are our top five choices for financial advisory firms in Utah:
1) Soltis Investment Advisors
With about $1.06 billion in assets under management and a history dating back to 1993, our top choice is St. George-based Soltis Investment Advisors. They consider the specific needs of their clients, and their experience working with professionals and people in all types of situations makes them well suited to do so.
They used customized portfolios that are created after you provide them with information that helps them estimate your risk-tolerance. But your input doesn’t stop there. You will be inside the process every step of the way. Furthermore, your portfolio is regularly reviewed to account for any changes in your life or in the market.
Soltis Investment Advisors is a fee-only firm that has a $750,000 minimum account requirement.
You can expect the following working with Soltis Investment Advisors:
- Retirement plan services for companies and executives looking to provide more for their employees.
- The ability to work with professionals of various types and cater to their specific needs.
- A mixture of technology and human analysis in order to determine the best options for each client.
2) Albion Financial Group
Our top choice for Salt Lake City, Albion Financial Group was founded in 1982, has about $1 billion in assets under management, and has a large staff to match. They provide a wide range of planning services to clients and are strictly concerned with their clients’ interests. They also understand that those interests can change and are willing to adjust their methods to reflect that.
Advisors tailor their advice to each client according to their needs and goals, but they are, as a rule, focused on the best possible long-term outcome for 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 working with Albion Financial Group:
- Programs that specifically help women and those that don’t have too much wealth saved up yet.
- A collaborative environment that nonetheless seeks to provide a focused and easy-to-manage client experience.
- An understanding that good decision-making processes are the root of financial success.
3) Crewe Advisors
Another choice from Salt Lake City, Crewe Advisors is a firm that has $523 million in assets under management. A younger firm (founded in 2014), they work almost exclusively with higher-net-worth-clients, and they specialize in handling their particular needs, whether in fiscal matters or in the murky waters where relationships and finances can mix. They also work with families and provide the full range of services one might expect from such a firm.
In general, they don’t stick to a single noted investment strategy, preferring instead to adjust based on client wishes and goals. In short, individualization is key for Crewe Advisors.
Crewe Advisors is a fee-based firm that has a $2 million minimum asset requirement.
You can expect the following working with Crewe Advisors:
- A nearly unmatched level of experience working with high-net-worth clients, at least in the area.
- A limited clientele and an emphasis on providing the personal attention every client deserves.
- Services for executives and business owners and their unique needs, including business succession planning.
4) TrueNorth Wealth
TrueNorth Wealth is based in Salt Lake City, but they also have offices in St. George and Logan, making them one of the most logistically accessible firms in the state. They are a smaller firm that was founded in 2006 and that has $414 million in assets under management. To ensure a personal experience, advisors like to keep all options available when providing guidance, and they are willing to consider creative investment options. Furthermore, you can expect a comprehensive approach to financial planning.
In general, advisors prefer to keep the tax and fee burden minimal for clients, and they will typically design a diversified portfolio which they will regularly monitor.
TrueNorth Wealth is a fee-only firm that has a $500,000 minimum account requirement.
You can expect the following working with TrueNorth Wealth:
- An academic and careful approach to creating a financial roadmap for you and your family.
- A commitment to transparency. They always want you to feel in control of your financial future.
- A specialty in working with high-net-worth clients through the turmoil of the markets.
5) TownSquare Capital
The Provo-based TownSquare Capital is our last pick for Utah. A very young firm (founded in 2017), it has $350 million in assets under management. They work with both institutional clients and individuals and are simple yet effective in their investment approach. Advisors specialize in providing a-la-carte or full package services to their clients.
They prefer to research and choose options that are outperforming the rest of the market, and they do this in conjunction with minimizing the tax burden. As a rule, advisors do not pool client assets.
TownSquare Capital is a fee-only firm that has no noted account minimum or asset requirements to work with them.
You can expect the following working with TownSquare Capital:
- Active advisors who perform a lot of accessible market research and provide resources for clients.
- Excellent institutional services and family offices for those who need them.
- A flexible service plan to ensure you are never wasting your money on services you can’t use.
Utah is a fantastic state to either enjoy or grow your wealth, and there is no reason you shouldn’t have a trusted financial advisor by your side while you navigate life. We’re certain one of the above firms will be a great choice for you and your family, and we hope you take your time when considering each one. But no matter your final choice, we wish you nothing but happiness and financial security in the future.