Most people know Indiana for its farmland, Notre Dame football, the Indianapolis 500, and basketball. However, when we think of Indiana, we think about the six million people who call it home and how we can help each one of you take control of your financial futures.
The best way for many people to do this is to work with a trusted financial advisor. However, we don’t want you stuck dealing with the problem of finding the best ones, so we’ve done that research for you. Below you can read who made the cut and what you can expect from each advisory firm.
1) Everence Trust Company – Goshen
Founded in 2001, Everence Trust Company now has more than $1.6 billion in managed assets, making it one of the largest financial advisory firms in Indiana. The firm believes in helping families make the most of their money by providing them with opportunities to not only save for their future but also support community causes and other charities. When it comes to philanthropy, Everance will help you find the charities that are most aligned with your values, and they will assist your giving so that it has the most impact on your tax liability.
Everence Trust Company, however, is not just about giving. They will also help you put together a comprehensive financial plan. You will have a wide range of investment options, including securities, mutual funds, CDs, bonds, stocks, insurance, and others. Your exact mix of investments will depend on your specific situation.
Other things you can expect from Everence Trust Company include:
- Easy access to investment. The current account minimum is $50,000.
- A holistic approach to financial planning
- A commitment to giving back to the community in a meaningful and responsible way
2) Donaldson Capital Management – Evansville
For individuals with money to invest, at least $500,000, and time to let it grow, Donaldson Capital Management is one of the premier firms in Indiana you can work with.
The reason you need time is that DCM takes a more conservative approach to investing. They prefer to focus on rising dividend stocks as well as investment grade bonds, as these investments allow your portfolio to generate a consistent income. DCM is proud of the fact that its clients made it through 2008 and 2009, and this approach is part of the reason why.
However, these aren’t the only investment opportunities DCM will offer you. Instead, they will listen to your individual goals and ambitions to create an approach that is going to keep you protected from risk but that will also get you where you want to be.
Other things you can expect include:
- Assistance planning and investing for your retirement
- A one-on-one relationship with your advisor
- Seminars and other resources to help you understand the market
3) Bedel Financial Management – Indianapolis
Bedel Financial Management currently manages more than $1.1 billion in assets, and this makes it one of the largest firms in the entire state. It’s also one of the fastest-growing.
In terms of experience and qualifications, it’s tough to find anyone better than the staff at Bedel. All their advisors are either Certified Financial Planners (CFP) or Chartered Financial Analysts (CFA), which means they are well-trained in all aspects of financial planning.
Bedel Financial Management’s investment philosophy is centered around value stocks and mutual funds. The firm is most concerned with growing your portfolio over time. The firm also uses a research strategy known as fundamental analysis, which requires advisors to dig deep into the nature of a company to learn about its long-term prospects. This allows for more informed decisions which drive better results for you.
Bedel also has a team dedicated to helping younger investors, those between the ages of 25 and 40, as it recognizes this is an important age for building a solid financial foundation. Other things you can expect from Bedel Financial Management include:
- A holistic focus on your financial goals that will result in a comprehensive plan designed to help you achieve your goals.
- Retirement planning designed around your current financial situation as well as your goals for when you stop working.
4) Elser Financial Planning – Indianapolis
Elser Financial Planning makes the list not only because they have a staff of highly-qualified advisors with specialties in law, insurance, and investment management, but also because they take a unique approach to investment. This allows their clients to grow their money slightly more aggressively than with other firms, but this doesn’t mean you will be exposed to more risk.
Elser Financial Planning does this through Dimensional Fund Advisor (DFA) relationships which allow it to pool resources and invest in mutual funds typically reserved for institutions and other larger investors. This approach gives you the opportunity to take advantage of exciting opportunities other firms simply can’t offer.
However, Elser Financial Planning will only suggest these types of investments if they make sense for you and your goals. Furthermore, the firm will actively manage your portfolio, meaning it will make changes when opportunities arise or when there are signs of risk that need to be addressed. Other services include:
- Creating a comprehensive financial plan based on your personal objectives, challenges, and risk tolerance.
- Set fees which will be based on your account size and that will be clearly outlined in your first meeting.
- Resources designed to educate you as an investor.
5) Galecki Financial Management – Fort Wayne
Currently managing more than $500 million in assets, Galecki Financial Management is one of the largest financial advisory firms in Fort Wayne as well as all of Indiana. This size allows it to offer a wide range of services in the following areas:
- Broad-based financial planning to help you achieve your goals
- Asset management
- Tax planning
- Estate planning
- Divorce planning
- Medical investment advisory
Galecki Financial Management does not have a minimum account balance, which means it tends to work with more “everyday” people who are looking to build up a nest egg for the future, whether that be to help fund education, buy a vacation home, or retire.
This means that Galecki Financial Management takes a more conservative approach to investment that centers around exchange-traded funds (EFTs) and mutual funds, but they have other options should your goals and risk tolerance indicate you’re ready and willing to go to the next level.
Whether you live in Indianapolis, Fort Wayne, Evansville, or somewhere else, you have plenty of great options when it comes time to choose a financial advisor. However, finding the best one takes a lot of time and research, which is why we’ve put together this list. Each firm operates in a slightly different way, but they will all provide great, unbiased service and advice.