10 Best Financial Advisors in Philadelphia (for 2019)

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Ryan Friend

September 17, 2019  •  5 min read

Philadelphia is famous for being the home of Independence Hall, the Liberty Bell, and other historical locations. However, it is also one of the most important business hubs in America. Because Philadelphia is an important business hub, there are many excellent financial advisors located in the city. Yet choosing one can be difficult, as you want the perfect fit for your needs. Fortunately, we looked through all the options to find the best financial advisors so you don’t have to.

Editor’s Note: Complete the advisor quiz below to get matched with the best advisor for you:

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Here are our top five choices for financial advisory firms for the city of Philadelphia:

MyCIO Wealth Partners, LLC 

MyCIO Wealth Partners, LLC is a financial advisory firm that has over $6.52 billion in assets under management. If you would like to work with MyCIO Wealth Partners, then you will need to be able to open an account with at least $1 million in investible assets. So, this is an ideal wealth management firm to work with if you are a high net worth individual. This is the largest financial advisor in the city of Philadelphia.

MyCIO was created in the year 2005 and has 28 advisors on its staff, a couple of whom are certified financial planners (CFPs), one who is a certified public accountant (CPA), and others still who are some of the top financial advisors in the area. CIO stands for comprehensive, independent, and objective. For their investments, MyCIO Wealth Partners prefers to buy and hold securities for at least one year before selling. The company frequently invests in traditional securities such as equities, bonds, and mutual funds. It does, however, work with alternative investments as well.

You can expect the following working with MyCIO Wealth Partners, LLC:

  • A fee-only compensation structure
  • A strong focus on long-term investing based on fundamentals as opposed to short-term trading
  • Access to a wide range of alternative investments, such as those that help keep cash flow open and allow for more fluid portfolio management
  • Financial advice that can relate directly to tax planning, adding another dimension to your financial planning process

Wescott Financial Advisory Group, LLC 

Wescott Financial Advisory Group, LLC has over $1.94 billion in assets under management and offers a number of great financial planning options and services. Their account minimum to work with them ranges from $250,000 to $2 million, based on the plan you would like to have. There are 18 financial advisors working at the firm.

Founded in 1987, they have the experience to weather financial storms. When Wescott Financial is selecting a plan for you, they focus on your liquidity needs, your risk tolerance, and your financial goals. The company has its own research group, which drives all of its investing decisions.

You can expect the following working with Wescott Financial Group:

  • A fee-only compensation structure
  • Additional expertise in insurance products and services
  • A focus on “Life-minded wealth” which, according to them, is a process which aims to discover the underlying emotional drivers of a person’s financial decisions 

RTD Financial Advisors, Inc. 

RTD Financial Advisors, founded in 1983, has $1.48 billion in assets under management, but it does not have a minimum asset requirement. This makes it a less exclusive firm that’s great for the average person looking to grow their wealth and recieve financial services and basic investment management help.

With a long track record of success under its belt, there are 18 financial advisors who work for this firm. They focus heavily on retirement planning, and one of their main goals is to try and set up all their clients up for a comfortable retirement in the future. It also seeks out low-cost investments that can help to increase your net profit.

You can expect the following working with RTF Financial Advisors, Inc.

  • A fee-only compensation structure
  • A thorough analysis of your current financial situation and goals by an investment advisor in order to create a custom advisory services plan for you
  • Periodic rebalancing based on how your portfolio is performing 
  • Professionals who can help you with estate planning, the complicated financial needs of divorce, and other uncommon occurrences in your financial life.

Roffman Miller Associates, Inc. 

With over $1.34 billion in assets under managementRoffman Miller Associates is another financial advisory titan in the Philadelphia area. If you would like to work with Roffman Miller, you’ll need to be able to open an account with $500,000 in investible assets.

Founded in 1980, there are eight financial advisors who work for this firm. They prefer to focus on reducing volatility and creating stable, long-term gains. The company does not prioritize short-term investments and instead looks for investments that will yield positive results for many years to come. The company has an in-house investment committee that conducts all of the research for the investments the company makes.

You can expect the following working with Roffman Miller Associates:

  • A fee-only compensation structure
  • A very strong focus on long-term investments
  • The creative use of a wide variety of asset classes for investments 

Efficient Advisors, LLC 

Efficient Advisors, LLC has $937 million in assets under management. The company does not have a set account minimum for new clients. The bulk of Efficient Advisors, LLC’s client base is made of people who have average levels of wealth.

This firm was created in the year 2009 and has six advisors on its staff. They use Modern Portfolio Theory to manage client assets, which means that they believe that an investment’s risk and return characteristics should not be viewed in isolation, but instead in respect to the entire overall portfolio. The firm also focuses heavily on strategic asset allocation and academic research to identify risk factors that are important for making sound investment decisions.

You can expect the following working with Efficient Advisors, LLC:

  • A fee-only compensation structure
  • The use of low-cost investments whenever possible
  • A preference for exchange-traded funds, managed futures mutual funds, no-load mutual funds, and variable annuity sub-accounts 

Editor’s Note: Complete the advisor quiz below to get matched with the best advisor for you:

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Working with a premium financial advisor is one of the best ways to secure your financial future and set yourself up correctly for retirement. All the advisors on this list have proven to have investment strategies that work, and one of them should be the perfect choice for you and your family. Take some time to figure out what you are looking for, and then contact the firm or firms that interest you. We hope that you find nothing but success in the future.