When it comes time to choosing a financial advisor, it’s good to have choices. And if you live in Indianapolis, one of the largest cities in the Midwest, you have plenty of them. Yet who do you choose? Everyone is making lots of promises, and it’s difficult to know who is going to deliver. To take some of the guesswork out of this process, we’ve reviewed the many firms in Indianapolis and picked the top five. Keep on reading to learn more.
1) Valeo Financial Advisors
Valeo Financial Advisors is the largest firm currently operating in Indianapolis. It manages more than $3 billion in assets, and it has 44 advisors serving clients in 40 states across the U.S. You will get personalized service, however, as Valeo Financial Advisors limits each advisor to 40 clients.
There is no minimum investment required to open an account with Valeo, but there is a $6,000 minimum annual fee. Furthermore, Valeo Financial Advisors charges fees as a percentage of your net worth and not your account as they feel this helps demonstrate their impartiality and the comprehensiveness of their services.
When you work with Valeo Financial Advisors, you can expect:
- Comprehensive financial planning based around your goals
- The opportunity to take advantage of unique investments, something that results from Valeo’s “net worth” approach
- Special attention paid to risk management
2) Bedel Financial Consulting
With more than $1.1 billion in assets under management, Bedel Financial Consulting is both one of the largest and fastest-growing financial advisor firms in Indianapolis, and this success has come for several reasons.
First, all their advisors hold either a Certified Financial Planner (CFP) or Chartered Financial Analyst (CFA) Certification. The firm also has its own third-party research team designed to gain a wider understanding of the economy and inform investment strategies.
Bedel Financial Consulting also makes use of fundamental analysis, which requires its analysts to investigate some of the more intangible components of an investment, such as the company’s management team/structure, personnel, logistics, etc.
Another thing we like about this firm is that it has a team dedicated to young professionals between the ages of 25 and 40. Not only do they help younger professionals begin saving and investing, but they also provide resources to help them understand how to attain financial security and which steps they should be taking now to achieve it.
When you work with Bedel Financial Consulting, you can expect:
- A comprehensive financial plan that is designed to simultaneously support your different financial goals.
- An investment strategy that leans towards mutual funds but that will work to diversify your portfolio and put you on track to reach your goals.
- Specialized retirement planning to help you plan properly for this final chapter of life.
3) Halter Ferguson Financial
Founded in 1986, Halter Ferguson Financial has a long history of helping clients meet and exceed their financial goals. The firm specializes in helping later-career professionals who have already built up a sizeable nest egg but who are looking for ways to protect and grow that account before retirement.
The Halter Ferguson Financial approach is centered around asset management, which favors stocks over bonds, largely because of their tendency to produce greater returns over time. However, Halter Ferguson Financial also recognizes there is considerable volatility in the stock market, and so your advisor will work with you to develop a plan, as well as a strong mental approach, that will allow you to weather the volatility and achieve your goals.
When you work with Halter Ferguson Financial, you can expect the following:
- A personalized financial plan designed specifically around your goals as well as your risk tolerance
- A financial advisor who will work as a coach
- Resources to help you understand more about the financial world
4) Piedmont Financial Advisors
Founded in 2006, Piedmont Financial Advisors is one of the newer firms on this list, but it has had success by working to develop holistic financial plans designed to help its clients meet all of their financial goals.
Holistic plans consider all aspects of a person’s financial life, such as income, assets, tax obligations, insurance, bills, etc., and their purpose is to help you gain more control over your financial situation. Most people use the firm to help them come up with a plan for retirement, but you can get help for nearly all your financial needs.
Piedmont Financial Advisors is a fee-only fiduciary. When you work with Piedmont Financial Advisors, you can also expect:
- An analysis of your current financial plan to see how well positioned you are to achieve your goals.
- The choice between a one-time assessment or a long-term partnership
- Comprehensive financial advice based on the stage in life in which you currently find yourself.
5) Elser Financial Planning
Staffed with five Certified Financial Planners as well as several other experts in law, insurance, and investment management, Elser Financial Planning is a great firm for those looking to make moves and increase their wealth. Not just because they have a highly-qualified staff, but rather because Elser Financial Planning gives you the chance to make your money work harder.
The firm does this by taking a Dimensional Fund Advisor (DFA) approach which allows your personal advisor to pool assets and invest your money in funds typically reserved for large institutions. This gives you with the chance to take advantage of great returns with minimal risk.
Elser Financial Planning also actively manages your account to make sure you can take advantage of over- and underweighting in the market, something that will allow you to grow your portfolio more aggressively without exposing yourself to unnecessary risk. Other things you can expect when working with Elser Financial Planning include:
- A customized financial plan based solely on your goals and risk tolerance
- A fair and transparent fee structure which will be outlined during your very first meeting
- Access to resources that will help you understand your financial plan and make better decisions about your portfolio.
While you have many choices in Indianapolis, these five really are a cut above the rest. Each one does things slightly different, but they will all provide you with excellent service. So, if you’re ready to take the next step in your financial journey, schedule an appointment with one of these firms as soon as you can.