Honolulu is the economic heart of the state of Hawaii. It is at once a financial powerhouse and a wonderful tropical destination that attracts people from all over the world.
If you live in the state of Hawaii, and if you need a financial advisor, you’re in luck. Honolulu has many excellent advisors that are all willing to help you achieve your financial goals, prepare you for retirement, and grow your net worth so that you can achieve financial peace of mind.
However, with so many choices, searching for a financial advisor in Honolulu can be an overwhelming process. So, we’ve done the hard work for you and compiled a list of the best five financial advisors in the city of Honolulu. Read on to find out who made the list and why.
The Rice Partnership LLC
The Rice Partnership LLC has over $262 million in assets under management, which makes it one of the largest financial advisory firms in the entire state of Hawaii. But unlike other large firms, there is no account minimum to become a client of The Rice Partnership. Furthermore, the firm is employee-owned and uses a fee-only compensation structure, both of which help eliminate conflicts of interest and prove its advisors are working for no one but you.
The team at The Rice Partnership is made up of five financial advisors. They are all seasoned professionals and have an extensive amount of experience in the field. In terms of investment strategy, the firm focuses on domestic companies operating with a solid cash flow in growing markets.
Additionally, you can expect the following when working with the Rice Partnership LLC:
- The use of ETFs to rebalance your portfolio when necessary
- Complete transparency of fees
- Advisors who have an average of 30 years of experience in the business
Bankoh stands for Bank of Hawaii, and Bankoh Advisors does asset management and financial advice for the Bank of Hawaii, a huge vote of confidence from a major player in the investment world.
At the moment, Bankoh Advisors, which was founded in 1991, has more that $207 million in assets under management, and there here are 32 licensed advisors on staff. But if you would like to work with Bankoh Advisors, you will need to have assets worth at least $250,000.
The firm charges a percentage of your assets under management each year as compensation. But this percentage never goes above 1 percent. However, when creating your financial plan, Bankoh Advisors takes a number of factors into consideration. For example, it looks at your taxation status, your time horizon, your risk tolerance, and your current financial situation.
You can expect the following at Bankoh Advisors:
- Thorough analysis of all key aspects of your financial situation to create a customized plan
- Additional expertise in insurance and taxation
- Consistent monitoring of your portfolio
Kahala Financial Advisors
Kahala Financial Advisors is another one of the great Honolulu financial advisory firms; the firm currently manages more than $122 million in assets. However, despite the fact that there is such a large amount of assets that the company manages, there are only two financial advisors on the staff. Part of the reason for this is the firm’s exclusivity; opening an account requires an investment of at least $500,000.
The compensation structure at Kahala is fee-only, which eliminates conflicts of interests and enables the firm to give objective, unbiased financial advice to all its clients.
Kahala’s investment philosophy revolves around acquiring long-term buy and hold assets. Advisors never rely on market timing, as this can expose you to unnecessary risk and sacrifice overall returns. Furthermore, they are experts at finding ideal corporate and municipal bonds to bolster your portfolio.
You can expect the following working with Kahala Financial Advisors:
- Quarterly performance reports and rebalancing services
- Additional expertise on insurance, education planning, and credit
- Intelligent investing strategies which reduce risk exposure while providing significant returns
Shiraishi Financial Group Advisors LLC
With over $118 million in assets under management, Shiraishi Finanical Group LLC is another financial advisory company that has built a solid reputation in Honolulu. The Shiraishi Financial Group has no set account minimum for its clients, which makes it accessible to people with a lower net worth.
The firm was founded in 2013, but it is growing quickly and earning a reputation as the rising star of the Honolulu financial advisory world.
In terms of investment philosophy, Shiraishi uses a combination of active and passive investing. It does this to obtain long-term security while also allowing you to take advantage of favorable market conditions. Primarily, the company uses bonds, stocks, and investment company securities as its main investment vehicles.
You can expect the following while working with Shiraishi Financial Group Advisors LLC:
- A focus on the long-term, stable growth of your assets
- Expertise in estate planning, tax planning, and asset protection and management
- Fee-based compensation structure
Robert Priske LLC
With around $103 million in assets, Robert Priske, LLC is one of the smaller firms in Honolulu, but, being founded in 1987, it is also one of the oldest.
In general, however, the firm prefers to remain exclusive. There are currently just two advisors on staff, and the minimum asset requirement is $750,000. However, if you fall into this category, you will find working with Robert Priske to be everything you expect from a quality financial advisory firm.
Robert Priske’s investing strategy relies heavily on technical analysis and charting combined with cyclical analysis. The company is always looking for insights and data that will allow it to provide clients’ with exciting and unique investment opportunities. As for investment types, Robert Priske advisors prefer to diversify by investing in CDs, debt securities, government securities, mutual funds, municipal securities, ETFs, and more.
You can expect the following working with Robert Priske LLC:
- Fee-only compensation structure
- Discounts for accounts with more than $2 million in assets
- Investments that focus on solid rates of return with low risk
If you want to spend your retirement relaxing in peace on the beautiful beaches of Hawaii, then you will need to have a sound financial plan that helps to protect and grow your wealth. Any of these five financial advisors can help you to plan for retirement and other major life events. However, the one that is best for you will depend on your specific preferences and needs. As a result, use this list as a guide to help you start your search a financial advisor because we feel confident one of the firms mentioned above can help you. But no matter which you choose, our primary desire is that you find a way to plan for your financial future that provides comfort and peace of mind.