A large city in Iowa and home of the fifth season, Cedar Rapids is a place where people can live, enjoy life, yet still remain connected to the world at large and find a great deal of success. And those people will want to make the most of their time in the city, and not have to worry about managing their wealth for hours on end every week. Therefore, we recommend the use of a financial advisor or financial planner to help you make both the tough decisions and handle the smaller day-to-day problems that wealth can bring.
Yet what firm should you work with? To help you make your final choice, here are our top five choices for financial advisory firms for Cedar Rapids, Iowa:
1) World Trend Financial Planning Services, Ltd.
A top choice for the city of Cedar Rapids and a firm that is based in Cedar Rapids, World Trend Financial Planning Services, Ltd. has $449 million in assets under management and specializes in working with people who do not have a high net worth, which along with their lack of an account minimum makes them one of the most accessible (yet effective) options available in the city. They have nine advisors and have been in operation since 1991.
When it comes to their investment strategy, they heavily use mutual funds, but will also consider the clients’ needs, knowing that they have clients in many different situations (that presumably have different financial goals).
World Trend Financial Planning Services, Ltd. is a fee-based that does not have a minimum account requirement, but as always, we ask that you check as to their fees to make sure they are a reasonable option for your financial situation.
You can expect the following working with World Trend Financial Planning Services, Ltd.:
- Services offered which include retirement planning, education planning and funding, risk management, elder care planning, asset management services, estate planning, and general financial planning and investment management services.
- A firm that will be accessible to you and help you whether you’re wealthy or a middle-class family trying to save for retirement.
- A staff which takes its fiduciary duties seriously.
2) Basepoint Wealth, LLC
Based in Cedar Rapids with $218 million in assets under management, Basepoint Wealth, LLC is one of a few good options for city residents and is also a more accessible firm that works with most people. This doesn’t stop them from having an excellent staff, as among their nine advisors they have fifteen top certifications. A recently founded firm, it opened in 2017 and has grown rapidly since then.
They focus primarily on long-term investments and will use fundamental analysis in order to determine which companies are worth considering when investing.
Basepoint Wealth, LLC is a fee-only firm that does not have any minimum account requirements or asset requirements, but you should make sure they are still a good choice when you take their fees into account.
You can expect the following working with Basepoint Wealth, LLC:
- All the different services the average family could need.
- Services that are tailored towards entrepreneurs and business executives.
- A team that knows how to work with people going through transitional periods in their life.
3) Carson Wealth
A firm that works in Cedar Rapids, Carson Wealth has three advisors in the city, but a much larger team of investment professionals, researchers, and support staff behind them, making them clearly able to handle any problem or goal that you might take to them. We would like to note that they have locations in many areas and are not confined to just Cedar Rapids. If you want a more focused firm, they might not be for you. They manage $5.1 billion in assets total and are based in Omaha, Nebraska.
They use a wide variety of investment strategies and will generally tailor their approach to what might be best for you. You can expect plenty of consultation regarding making the right choice.
Carson Wealth is a fee-only firm that requires that you have $100,000 in investible assets.
You can expect the following working with Carson Wealth:
- A larger library of posts, tools, and insights that you can use to better understand your wealth and the market at large.
- Services which include general financial planning (with several subcategories within that), risk management, tax planning, and trust and estate planning.
- A commitment to providing clear communication to their clients and remaining on the same page with them.
4) Gilbert & Cook, Inc.
An independent firm from Des Moines that has $405 million in assets under management, Gilbert & Cook, Inc. has been around since 1994 and has eight advisors under their employ. They generally work with high net worth individuals, and you can trust them to hold themselves to high standards across the board.
They use outside services and professionals (money managers) when handling investments and will carefully review their performance. However, they will try to match you to the right advisor.
Gilbert & Cook, Inc. is a fee-based firm that requires that you provide a $1 million initial investment to work with them.
You can expect the following working with Gilbert & Cook, Inc.:
- Specialized divorce planning services to help you financially get through a difficult time.
- Their advisors will seek to form a close professional relationship with you.
- A tailored service experience that will adapt to your financial needs and goals.
5) Legacy Financial Group
Founded in 2010 and another Des Moines firm of note, Legacy Financial Group is an excellent group that has about $387 million in assets under management. Their main services include tax planning, retirement planning, estate planning, risk management services, life transition planning, and investment management and allocation services.
Their main tool is proper asset management and investment allocation, and they will carefully balance your portfolio to maximize returns all the while keeping risks to a minimum. They understand that there are multiple types of risk and take this into consideration when working with clients.
Legacy Financial Group is a fee-based firm that does not have a noted minimum asset requirement, but we would suggest that you double-check as to their fees to see if they are a good fit for your financial situation.
You can expect the following working with Legacy Financial Group:
- A six-step, plan-focused process that ensures you’re getting the best services.
- A well-trained staff that includes a certified financial planner (CFP).
- Customized services that will be explained to you as you work with them.
We understand that there might not be as many options as you might find in the Metropolises to the east and west, but we’re nonetheless confident that with the above information you’ll be entirely able to find a great fit and get the financial advice you need to get ahead. Remember that you are always in control and that only you can make the best choice for you and your family. We wish you the best of luck, and hope you take all the time you need.