10 Best Financial Advisors in Virginia (for 2019)

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Ryan Friend

September 2, 2019  •  5 min read

One of the birthplaces of America, Virginia has a rich history behind it, both political and economic, and there is truly no place like it on earth. Old and new wealth alike make their home here, whether in RichmondAlexandria, or Virginia Beach, and we understand that successful individuals such as yourself often need guidance when it comes to your financial situation. This is what a financial advisor or financial planner is for, and fortunately, there are plenty of firms operating in the state that can help you. We also looked into the best options, 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 state of Virginia:

Mason Investment Advisory Services 

The biggest investment management firm on this list and our top choice, Mason Investment Advisory Services manages over $6.97 billion in assets on behalf of its clients. However, even though it is the largest financial advisory company in the state, there is no minimum required asset amount to open an account with them.

This firm was founded in 1982 and has 27 financial advisors on its staff. This number includes 13 certified financial planners (CFPs), several chartered financial analysts (CFAs), two accredited investment fiduciaries (AIFs), a chartered life underwriter (CLU), a chartered financial consultant (ChFC), and other income planning specialists with years of experience.

In terms of investment strategy, Mason Investment Advisory believes that there are no reliable methods to predict market trends. Therefore, it always avoids trying to time the market and get short term results. Instead, the company focuses on long-term investments that are based on sound investing fundamentals. The company offers clients five different portfolio models to choose from based on risk tolerance.

You can expect the following working with Mason Investment Advisory Services:

  • A fee-based compensation structure
  • A strong focus on long-term success and even retirement planning or estate planning
  • A mixture between active and passive investing in order to get the best of both worlds 

Signature Family Wealth Advisors 

With over $4.04 billion in assets under managementSignature Family Wealth Advisors is another one of Virginia’s largest financial advisors and was founded in 1994. In terms of minimum asset requirements to open an account, there is no one set minimum. Instead, the account minimums vary based on which type of account that you would like to open.

The company has 22 financial advisors on its team. For its investing strategies, Signature Family Wealth Advisors is a firm believer in investing in long-term market cycles. The firm places a strong emphasis on diversification in order to reduce exposure to risk. The company also looks carefully at taxes and fees and seeks to reduce these expenditures as much as possible when making investments.

You can expect the following when you are working with Signature Family Wealth Advisors:

  • A fee-only compensation structure
  • Additional expertise in philanthropic financial planning
  • No focus on short-term market timing 

Sullivan, Bruyette, Speros, and Blayney 

This wealth management firm manages over $3.47 billion in assets for its clients. If you would like to have your assets managed by Sullivan, Bruyette, Speros, and Blayney, then you will need to be able to open an account with $1 million in investable assets. For this reason, the bulk of the clients who work with this company are high net worth individuals, trusts, estates, and other organizations.

Sullivan, Bruyette, Speros, and Blayney was created in the year 1991 and there are 25 financial advisors working at the firm. For its investing strategy, this firm does not use portfolio models, but instead creates custom portfolios for all its clients. Generally, the company prefers to conduct long-term investing and likes to buy and hold securities for at least a year before selling. Exceptions are sometimes made to this strategy.

You can expect the following working with Sullivan, Bruyette, Speros, and Blayney:

  • A fee-only compensation structure
  • Consistent monitoring of your portfolio
  • Periodic rebalancing of assets as necessary 

Wilbanks, Smith, & Thomas Asset Management, LLC 

Wilbanks, Smith, & Thomas Asset Management, LLC has over $2.96 billion in assets under management and was founded in 1990. They currently have 17 financial advisors on staff. The company has a minimum account requirement of $1 million to work with them, making them a more exclusive firm.

Unlike many other financial advisors, Wilbanks, Smith, & Thomas Asset management does everything in-house, making the company extremely self-sufficient and independent. Also, unlike many other firms, this company is not opposed to short-term investing. In fact, it is very common for the company to do short sales and to make short-term purchases.

You can expect the following working with Wilbanks, Smith, & Thomas Asset Management:

  • A fee-only compensation structure so that their financial services are only performed in your best interests
  • Investments designed around your risk tolerance, financial goals, and time horizons
  • Some investments will be made around opportunistic short-term market conditions in order to maximize your private wealth

Cassaday & Co. Inc. 

Cassaday & Co. Inc., founded in 1993, manages over $2.37 billion in assets and there is a $500,000 minimum investible asset requirement to work with the firm. The bulk of Cassaday & Co.’s client base is made up of high net worth individuals and families. However, the company also frequently takes on corporate pension plans and profit-sharing plans as clients. 

They have 18 financial advisors on its staff. This company was voted by Barron’s to be the top financial advisory firm in Virginia for the last five years. Cassaday & Co. relies on Modern Portfolio Theory and buy and hold strategies. The bulk of the investments made by Cassaday & Co. are in fixed-income securities, mutual funds, and ETFs.

You can expect the following working with Cassaday & Co.:

  • A fee-only compensation structure for their planning services
  • A strong focus on effective diversification of your portfolio
  • A strategy that heavily favors long term investments 

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

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Whether you live in Arlington or Norfolk, or even close to Washington, D.C., if you want to reach your highest possible financial potential, then it makes sense to partner with a financial advisor who can help to get you there. Any of the financial advisers on this list would make for a great partner for you that can provide excellent financial advice, but we encourage you to call or investigate several of the firms above to find the perfect fit. We hope you find exactly what you’re looking for in your financial life.