When most people think of Florida, they think of the glamour of Miami, the countless world-class beaches lining both coasts, Disney World, the Everglades, and the pride of the panhandle.
However, when we think of Florida, we think of its economic might. With 21 million residents, it’s the third largest state in the country according to population.
Lucky for you, this means that you have countless choices when it comes time to pick a financial advisor. However, with so many options, finding the best is nearly impossible to do on your own, which is why we’ve put the time in to review the many firms across the state and select the best five. Read on to learn which firms made the list and why we think they’re the best.
1) WE Family Offices – Miami
WE Family Offices currently manages more than $7 billion in total assets, making it not only the largest financial advisory firm in Miami but also the entire state. This impressive portfolio is the result of a determined approach and a commitment to the client’s goals, as well as the diverse experience of their large team of more than 30 advisors.
Evidence of this attention to your goals can be found in the WE Family Office’s approach. They spend considerable time running diagnostic tests on your current investments, and they compare the results based on the goals you’ve identified. From there, they will put together a tailored plan that properly manages risk while still allowing you to grow.
Currently, however, WE Family Offices charges a minimum fee of $150,000, meaning this firm is reserved mainly for very high-net-worth individuals. If you fall into this category, you can expect the following from WE Family Offices:
- Well-researched investment strategies based around your specific goals
- Financial planning advice in the following areas: estates, taxes, college, philanthropy, retirement, etc.
- Financial monitoring in the form of data collecting and reporting, cash flow analyses, and transaction reconciliations
2) Ingham Retirement Group – Miami
Planning for retirement is one of the most common reasons we reach out to a financial advisor. The idea of no longer receiving an income from your work is foreign to most of us, and it’s very difficult to come up with a way to do this on your own. If you find yourself in this position, the Ingham Retirement Group might be the right firm for you.
Their approach to investment is centered around asset allocation largely because of the predictable returns these investments offer. The Ingham Retirement Group tends to shy away from securities because of their inherent instability, but they will, of course, adjust their approach based on your specific goals.
Currently, the firm has more than $2 billion in assets under management, and they have been in business since 1972. The also works closely with corporations and other employers to help them build their retirement plans. The current account minimum is $100,000, and when you work with them, you can expect the following:
- A custom retirement plan designed to help you produce the income you need while you’re not working
- Advice pertaining to the different insurance choices available to you as you plan for an approaching retirement
- Attention to your personal retirement plans and needs
3) Doyle Wealth Management – Tampa
Most financial advisors start a new client relationship by identifying goals, but many forget that most of us aren’t even sure what’s realistic in the first place. To make things easier, Doyle Wealth Management has developed several different investment plans that help clarify what you can get by working with them.
Of course, each plan will be tailored to your specific situation, but this approach makes it much easier to come up with a strategy you can truly call your own. Overall, there are four main strategies, and they are designed to help you do one of the following:
- Provide you with a fixed income
- Minimize turnover and reduce your tax liability
- Be slightly more aggressive with your portfolio
- Diversify your assets
Currently, the account minimum is $100,000, but the firm’s Preferred Partner program, which you need to apply for, is a way for those with fewer assets to take advantage of the services provided by Doyle Wealth Management.
4) Genesis Wealth Management – Ft. Lauderdale
Genesis Wealth Management is unique in that it provides its clients the opportunity to take advantage of investment opportunities typically only available to large institutional investors. It does this by partnering with Dimensional Fund Advisors (DFAs), which provides Genesis Wealth Management exclusive access to large mutual funds and other securities-based investments.
This arrangement allows Genesis Wealth Management to pool investments and make bigger and bolder moves without exposing you to excessive risk. To give you an idea, if you work with Genesis Wealth Management, you can invest in high-performing mutual funds for which the minimum investment is $2 million. But you do not need to invest this much. Instead, you invest the amount with which you’re comfortable and let your advisor do the rest.
With Genesis Wealth Management, you can expect the following:
- Exciting investment opportunities that will grow your portfolio while also keeping you away from unnecessary risk.
- A long-term approach designed to help you achieve your lifetime financial goals.
- Knowledgeable advisors who will be able to clearly explain to you what you’re investing in and why.
5) Moisand, Fitzgerald, and Tamaya – Orlando
One of the biggest assets a financial advisor can have is experience, and it’s going to be tough to find a team of advisors with more of it than Moisand, Fitzgerald, and Tamaya.
Each one of the founders of Moisand, Fitzgerald, and Tamaya contributes or has contributed to the current investment knowledge base in one way or another, either by chairing an important professional organization or serving on the review board of an academic journal. This means the investment advice you receive will be based on sound research and not just a whim or a gut feeling about the market.
Information such as this informs you as an investor, which helps clarify which path forward you should take. When working with Moisand, Fitzgerald, Tamaya, you can also expect:
- A personalized plan grounded on your fundamental objectives and risk tolerance.
- Fair and transparent fees that are adjusted based on the size of your account.
- An advisory team with a broad and deep understanding of the many different investments available to you.
With so many other great things to offer, it should come as no surprise that Florida also has a wide selection of world-class financial advisors. The five on this list represent the best of the best in the sunshine state. If you’re looking for some help putting together your financial plan, get in contact with one of the firms on this list today.