A well-known New Jersey city and one of the hubs of the United States, Newark is filled with people, culture, and most importantly for this discussion, economic opportunities. And whether you’ve already established your success in the city or are still building your business and just finding wealth, we want you to remain committed to the things that matter and not distracted by financial management. For those problems, we think working with a financial advisory or investment management firm is the best option.
Yet what firm should you work with? There are many options in the area to choose from, and not all of them are equal, so here are our top five choices for financial advisory firms for Newark, New Jersey:
1) Pathstone Family Office
Our top choice for Newark and several other prominent New Jersey cities, Pathstone Family Office is a huge firm with several locations that has a massive $8.54 billion in assets under their management. Employing more than 50 advisors, they have a team with diverse backgrounds in the industry and some of the best certifications possible. You can trust them to provide whatever services or advice you might require.
Pathstone Family Office uses modern portfolio theory, and will heavily lean on diversification as an important part of your investing strategy. They are best for long-term investors but will use several different asset types depending on the client’s circumstances and the condition of the markets.
Pathstone Family Office is a fee-only firm that requires that you have a $2 million portfolio to work with them.
You can expect the following working with Pathstone Family Office:
- Their clientele includes some select non-profit organizations.
- Planning services which include financial, estate, tax, philanthropic, and insurance planning. Other services including investment advisory and administration services.
- You will be working with independent and objective advisors.
Our second choice, RegentAtlantic, is based in Morristown and has $4.58 billion in assets under their astute management. They specialize in working with select groups such as executives, business owners, and women working on Wall Street (among a series of others), but many individuals can take advantage of their expertise and well-trained, experienced staff.
They will wish to get to know you as a client first before determining a course of action, which is important given the customizability of their plans. You can trust they will clearly communicate all of your options to you, and that whatever portfolio you wind up with will be carefully balanced.
RegentAtlantic is a fee-only firm that does not have a minimum asset requirement or anything similar, but it does have a $10,000 minimum annual fee. This means that people with less than $1 million to invest should probably not consider working with this firm.
You can expect the following working with RegentAtlantic:
- Services offered include retirement plan services for businesses, trust services, investment services, financial planning, and others.
- A series of online tools and resources will be available so that you can get a better handle on your financial situation.
- Retirement planning services that are hard to beat.
3) Massey Quick Simon & Co., LLC
Massey Quick Simon & Co., LLC has about $3 billion in assets under management, and the excellent Morristown firm has been around since 2004. Utilizing their excellent staff of 17 advisors to the fullest, the firm has an excellent family financial planning team, and readers concerned about generational wealth should absolutely give this choice a closer look.
They primarily use fundamental analysis, but you can rest assured they will take client considerations and concerns as their primary decision-making point when creating a portfolio.
Massey Quick Simon & Co., LLC is a fee-only firm that has a minimum account size requirement of $500,000.
You can expect the following working with Massey Quick Simon & Co., LLC:
- Four additional offices in Denver, New York, Chattanooga, and Los Angeles.
- They have experience working with families looking to preserve wealth for future generations.
- A holistic approach to financial planning, leaving no facet unexamined.
4) Beacon Trust
Based in Morristown, Beacon Trust is a popular and notable firm that has $2.1 billion in assets under its management. With a highly experienced staff (they average a few decades of experience in the industry among their advisors), they can handle just about any challenge you throw their way while also considering modern solutions to modern financial problems.
When it comes to their investment and advisory strategies, Beacon Trust is a firm that is very flexible in its approach, and will consider multiple options and discuss them with you before selecting an investment manager for you to work with. You can also rely on them to minimize risk and the tax or fee burden for your portfolio.
Beacon Trust is a fee-only firm that requires that you have $500,000 in investible assets to work with them.
You can expect the following working with Beacon Trust:
- A firm that regularly uses modern technology to provide better advisory services.
- Main services offered include trust and estate administration, tax services, financial planning, investment management, private banking, and others.
- Experience working with clients at all stages of their financial life.
5) FCG Advisors, LLC
FCG Advisors, LLC is our last selection for Newark, and it has $1.05 billion in assets under their management. Based in Chatham, they have a staff of over a dozen advisors (several of which hold CFP certifications), and they have a history as a group that dates back to 1994. They pride themselves on their careful and disciplined approach and hope to provide all of their clients with peace of mind.
They first work with you to create a customized plan for your financial future, and then using their resources try to find the best possible investments. Some of these might be riskier than what other firms might use, but they do have a rigorous stock selection process.
FCG Advisors, LLC is a fee-only firm that does not have any set minimum asset requirement to our knowledge, but we do recommend double-checking their fee structure to make sure that they are a reasonable option for you.
You can expect the following working with FCG Advisors, LLC:
- They will take tax planning into consideration.
- Excellent retirement planning services if you own or manage a business.
- A modern technology platform that advisors can use to provide better services to their clients.
However you’ve managed to find your success in Newark, we hope you are able to continue along your path free of distractions, which is why we suggest using a financial advisor or investment manager. We hope that you find one or more of the firms listed above to be a great fit, and that you are able to work out a plan that will serve you and your family for decades to come. Don’t be afraid to learn more about your financial situation, ask questions, and make phone calls. Smart decision making now will pay off in the long run.