Best Financial Advisors in Tucson 2021: Fees and Services

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Updated on Friday, January 22, 2021

Given that Tucson has almost as many choices of financial advisors as it does on sunny days, it’s understandable why choosing a financial advisor in Arizona’s second-most populous city may feel overwhelming. Before you start looking at all your options, you’ll want to identify your financial needs and goals, as well as how much you’re willing to spend for an advisor’s services.

From there, you’ll need to start comparing firms and data points, which is where this list of Tucson’s top financial advisors can prove helpful. We’ve rounded up the best financial advisors in Tucson and their most pertinent data points. To determine which firms in Tucson were top, we only looked at firms that manage individual accounts and offer financial planning services. We then ranked these firms based on assets under management (AUM), which serves as a general metric for a firm’s size. Although not formally part of our ranking, we encourage readers to take note of each firm’s client-to-advisor ratio, as this indicates how much attention you may get as a client. All data used in our methodology is taken from each firm’s most recent Form ADV filing with the SEC so as to ensure the accuracy and reliability of our rankings.

While our ranking is not indicative of which firm may be best for you, it can make your shopping experience less overwhelming. Check out our list below for the top firms in Tucson and their key highlights:

10 best financial advisors in Tucson

Methodology and criteria

For our search, we looked at firms across the city of Tucson. All of the firms considered are bound by fiduciary duty, registered with the U.S. Securities and Exchange Commission (SEC) and offer individual account management and financial planning services. Information used for our methodology criteria is taken directly from each firm’s most recent Form ADV filing and brochure, found on the IAPD database.

To localize our results for this list, we exclusively looked at firms that met the above criteria and had their headquarters in Tucson, as per the address provided in the Form ADV. Of those firms, we only considered those that offer financial planning services and portfolio management to individual investors. To be considered for this list, firms also could have no more than one disciplinary disclosure in the past 10 years. From there, the remaining firms that met all of the above stipulations were ranked in order of highest to lowest AUM, as this is an indication of a firm’s size and how many assets it has been entrusted to manage.

In our reviews, we have also listed several other key features that will help you determine which financial advisor may be most fitting for your investing style and financial needs. While our ranking system and methodology is designed to help you compare firms, it does not indicate which firm may be best for you. All information here is accurate as of January 22, 2021, but we urge you to also evaluate these firms on https://adviserinfo.sec.gov/.

1. TCI Wealth Advisors, Inc.

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  • Minimum assets required: None specified, but minimum annual fee of $1,000
  • AUM: $2,973,412,645
  • Individual investor to advisor ratio: 110:1
  • Fee structure:
    • A percentage of AUM
    • Hourly charges
    • Fixed fees
  • Firm phone number: 520-733-1477
  • Headquarters address:
    4011 East Sunrise Drive
    Tucson, AZ 85718

About TCI Wealth Advisors, Inc.

Founded in 1990, TCI Wealth Advisors, Inc. provides investment management and, when specifically requested, financial planning and consulting services, such as estate planning and insurance planning. The firm’s list of clients consists largely of individuals, including those who both do and do not meet the SEC’s definition of high net worth (a threshold of at least $750,000 in assets under management or a net worth of at least $1.5 million). It also serves institutional investors including trusts and estates, pension and profit-sharing plans, charitable organizations and businesses.

While the firm does not have an account minimum requirement, it does impose a $1,000 minimum annual fee. As such, clients with less than $80,000 invested pay a higher percentage rate in annual fees than typical.

While TCI Wealth Advisors is headquartered in Tucson, it has additional offices in Arizona in Flagstaff and Scottsdale, as well as locations in Denver and Reno, Nev. The firm is owned by several trusts and individuals, many of whom are employees.

TCI Wealth Advisors, Inc. investing strategy

The team at TCI Wealth Advisors believes the best results come from a low-cost, index-based asset allocation coupled with disciplined rebalancing. Generally, clients can expect to hold securities for at least one year, as the firm believes in building wealth over the long term. Advisors use both fundamental and cyclical analysis to select investments, meaning they analyze historical and present data while also looking for patterns between price and market trends.

As for specific investments, client money may be spread across mutual funds, exchange-traded funds (ETFs), individual equities and bonds and bond funds; occasionally, real estate investment trusts (REITs) may round out the list of recommendations. The firm also offers asset allocation models that it designs.

TCI Wealth Advisors, Inc. disciplinary disclosures

TCI Wealth Advisors has a clean disciplinary record. The Securities and Exchange Commission (SEC) requires registered investment advisors to disclose all legal or disciplinary events against the company or its employees in the last 10 years that would be material to the evaluation of the firm or the integrity of the management team. For more information, view the firm’s Investment Adviser Public Disclosure (IAPD) page.

2. Wellspring Financial Partners

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  • Minimum assets required: No set minimum
  • AUM: $614,618,261
  • Individual investor to advisor ratio: 39:1
  • Fee structure:
    • A percentage of AUM
    • Hourly charges
    • Fixed fees
  • Firm phone number: 520-327-1019
  • Headquarters address:
    4703 E. Camp Lowell Drive, Suite 135
    Tucson, AZ 85712

About Wellspring Financial Partners

Wellspring Financial Partners serves mostly individual investors, including those who both are and are not high net worth. This Tucson-based firm also works with institutions, including pension and profit-sharing plans. Clients can expect to find investment advisory services, comprehensive financial planning, estate planning, financial consulting and retirement plan investment advisory services. Separately, advisors also sell insurance.

Founder and CEO Patrick Zumbusch registered the firm as an investment advisor in 2011 and is the sole shareholder. Legally, the firm is known as Investment Metrics, LLC.

Wellspring Financial Partners investing strategy

Wellspring Financial Partners typically invests client funds using model portfolios that align with the client’s needs and objectives, although the team will design customized portfolios when necessary. These models typically use passive investment strategies across a broad range of asset classes. Generally, accounts are invested primarily in mutual funds, ETFs and equity securities, although portfolios may also include index funds and fixed income securities.

The firm generally manages portfolios on a discretionary basis only, meaning advisors make the daily trading decisions without first requesting client approval.

Wellspring Financial Partners disciplinary disclosures

Wellspring Financial Partners and its employees have had no disciplinary or legal disclosures over the last 10 years that would be material to a client’s evaluation of the firm or the integrity of the management team. The SEC requires all registered investment advisors to report such events in their Form ADV paperwork. View the firm’s paperwork and get more information by visiting its IAPD page.

3. GR Financial Group, LLC

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  • Minimum assets required: None specified
  • AUM: $528,717,602
  • Individual investor to advisor ratio: 226:1
  • Fee structure:
    • A percentage of AUM
    • Fixed fees
  • Firm phone number: 520-577-4711
  • Headquarters address:
    4556 E. Camp Lowell Drive
    Tucson, AZ 85712

About GR Financial Group, LLC

In business since 2014, GR Financial Group, LLC has a single office in Tucson. The firm is primarily owned by its president, Scott Genzman, and its vice president, Lynsey Richter.

GR Financial Group’s main offerings include portfolio management, comprehensive financial planning and consulting services on a particular topic, such as estate planning or retirement planning. Individual investors who are not considered high net worth make up the majority of the firm’s clients list, though it also serves high net worth individuals and families. The group can also serve institutional investors, such as businesses and charitable organizations.

GR Financial Group, LLC investing strategy

In general, clients of GR Financial Group can expect a portfolio largely built around an assortment of mutual fund products. The firm develops model portfolio recommendations using third-party services, such as Morningstar Direct. And while its investment strategy mainly focuses on long-term mutual fund and/or ETF purchases, some of the firm’s more sophisticated investment strategies may include short-term purchases, margin transactions (buying stocks with money borrowed from the client’s brokerage account, so clients are not limited to the cash on hand), as well as option writing (the right to buy an asset at a specific price on a future date).

That said, advisors may recommend, or can weigh in on, a wide variety of products, including individual equity and debt securities, warrants, certificates of deposit (CDs), variable life insurance, variable annuities, options contracts on securities, real estate investments and oil and gas interests.

GR Financial Group, LLC disciplinary disclosures

GR Financial Group discloses no legal or disciplinary actions in the last 10 years that would be material when evaluating the firm or integrity of the management team, thus giving the firm and its employees a clean record. To learn more, view the firm’s disclosures on its IAPD page.

4. Sterling Investment Management, Inc.

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  • Minimum assets required: $500,000
  • AUM: $304,989,052
  • Individual investor to advisor ratio: 36:1
  • Fee structure:
    • A percentage of AUM
    • Hourly charges
  • Firm phone number: 520-293-3311
  • Headquarters address:
    6262 North Swan Road, Suite 210
    Tucson, AZ 85718

About Sterling Investment Management, Inc.

Sterling Investment Management, Inc. has offices in Arizona in Tucson and Scottsdale. The firm, which generally requires a minimum investment of $500,000, serves primarily individual investors (both high net worth and otherwise), as well certain institutions, such as foundations, endowments, corporations and pension and profit-sharing plans. Its main services include portfolio management, comprehensive financial planning and consulting on particular financial topics, including retirement or college planning.

Founded in 1995, Sterling Investment Management is owned by its employees, with president and chief investment officer John Payne serving as the principal owner.

Sterling Investment Management, Inc. investing strategy

Sterling Investment Management’s approach is rooted in value investing. In particular, the team looks for businesses that have competitive advantages, produce high levels of cash flow and are led by strong management teams, among other factors.

Typically, portfolios are predominantly made up of individual equities, fixed income and alternative investments, such as real estate investment trusts or master limited partnerships. The firm’s primary investment strategies — capital appreciation, balanced, current income and fixed income — each has a distinct aim and approach. Advisors may also utilize options and short selling strategies to add diversification to client portfolios.

Sterling Investment Management, Inc. disciplinary disclosures

Sterling Investment Management has a clean disciplinary record, meaning the firm discloses no civil, criminal or regulatory events involving the company or its employees over the last 10 years that would materially impact a client’s evaluation of the firm or integrity of the personnel. To learn more about the firm, visit Sterling Investment Management’s IAPD page.

5. Cambridge Financial Group, LLC

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  • Minimum assets required: No set minimum
  • AUM: $300,552,630
  • Individual investor to advisor ratio: 61:1
  • Fee structure:
    • A percentage of AUM
    • Fixed fees
    • Other (a percentage of income)
  • Firm phone number: 520-531-0550
  • Headquarters address:
    6700 N. Oracle Road, Suite 324
    Tucson, AZ 85704

About Cambridge Financial Group, LLC

Cambridge Financial Group, LLC operates from its Tucson office, but uses virtual appointments to serve clients nationwide. The firm’s client list includes individuals who both are and aren’t high net worth. Its primary services include managing investments, as well as financial planning, addressing topics including estate planning and retirement planning. The firm also offers tax preparation services. Additionally, a specific offering branded as Edge Ahead targets young professionals who are still accumulating assets.

Cambridge Financial Group was founded in 2001 by Penny Marchand. Today, it is primarily owned by Marchand, with Alicia Klein and Cole McClarren, who are senior advisors and partners, also owning a share of the firm.

Cambridge Financial Group, LLC investing strategy

Clients of Cambridge Financial Group should be prepared for discretionary management, where they give their advisors control of daily trading decisions and account sub-advisors. The firm’s advisors rely on fundamental research techniques, such as analyzing the industry outlook and company management, as opposed to more technical or quantitative analysis or charting, which is focused largely on data and patterns. Model portfolios, as well as third-party sub-advisor Asset Dedication, LLC, may also be used.

In general, the advisors at Cambridge Financial Group recommend no-load mutual funds (meaning the fund has no sales charge), as well as ETFs, U.S. government securities, money market accounts, CDs and individual bonds. Advisors also can weigh in on other types of investments that clients may already own.

Cambridge Financial Group, LLC disciplinary disclosures

Cambridge Financial Group has a clean record, meaning it discloses no legal or disciplinary events in the last decade involving the firm, its employees or its affiliates that would materially impact a client’s evaluation of the firm or its management team. All registered investment advisors must report such events in their Form ADV paperwork filed with the SEC. To learn more, visit the firm’s IAPD page.

6. Ironwood Financial, LLC

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  • Minimum assets required: $250,000
  • AUM: $229,736,419
  • Individual investor to advisor ratio: 91:1
  • Fee structure:
    • A percentage of AUM
  • Firm phone number: 888-271-4646
  • Headquarters address:
    1926 E. Ft. Lowell Road, Suite 100
    Tucson, AZ 85719

About Ironwood Financial, LLC

Founded in 2009, this firm was branded Ironwood Wealth Management, LLC until 2015. Today, Ironwood Financial, LLC has a single office in Tucson. It is owned and operated by its three partners: Alexander Parrs, Daniel Nentl and Robin Dolezal.

Ironwood Financial primarily serves individuals and families (both high net worth and not), particularly those who are nearing retirement or have already retired. The firm, which generally requires a minimum account size of $250,000, also serves some institutions including pension and profit-sharing plans, charitable organizations and businesses. Individual clients turn to Ironwood for investment management and financial planning services, especially around retirement planning.

Ironwood Financial, LLC investing strategy

Advisors at Ironwood Financial primarily allocate client funds among mutual funds and ETFs, as well as some individual stocks and bonds. The firm makes its allocation decisions according to one of the investment strategies designed by the team, while also taking into account the client’s needs, goals and risk tolerance.

Ironwood Financial prefers clients to give their advisors control of trading decisions, known as discretionary management. In certain circumstances, however, clients can require approval of buying and selling decisions, called non-discretionary management.

Ironwood Financial, LLC disciplinary disclosures

Ironwood Financial discloses no legal or disciplinary actions over the last 10 years against the firm, its employees or its affiliates that would materially affect the evaluation of the firm or the integrity of the management personnel. This includes any civil, criminal or regulatory events. To learn more, view the firm’s IAPD page.

7. Nova Financial Services

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  • Minimum assets required: No set minimum
  • AUM: $220,200,000
  • Individual investor to advisor ratio: 62:1
  • Fee structure:
    • A percentage of AUM
    • Hourly charges
    • Fixed fees
  • Firm phone number: 520-745-5555
  • Headquarters address:
    1630 E. River Road, Suite 212
    Tucson, AZ 85718

About Nova Financial Services

Founded in 2009, Nova Financial Services offers portfolio management and financial planning services, including written financial plans and consulting on specific topics, such as education planning and retirement planning. The firm primarily serves individuals and families both with and without a high net worth, as well as around a dozen business institutions.

Headquartered in Tucson, the firm has an additional office in Colorado Springs, Colo. Today, Nova Financial Services is owned by Nova Financial Holding LLC and BFD, LLC; the firm’s managing partner, Jake Kagele, has a financial stake in the latter.

Nova Financial Services investing strategy

Nova Financial Services recommends investment portfolios of ETFs, mutual funds, individual stocks and bonds, and other products. More sophisticated investments, such as structured products, option contracts and collateralized obligations, may also be recommended. In certain cases, advisors refer clients to certain third-party money managers who may manage some or all of a client’s money.

The team uses a variety of strategies and research methods to form its investing recommendations, including fundamental analysis (which focuses on evaluating a specific security’s intrinsic value), as well as technical analysis (which uses statistics, charts and other tools to identify patterns and relationships that can suggest future activity).

Nova Financial Services disciplinary disclosures

Nova Financial Services discloses no material legal or disciplinary events against the firm or its employees over the last 10 years. The SEC requires that all registered investment advisors report such information in their Form ADV paperwork they must file. To learn more, view the firm’s IAPD page.

8. Raskob Kambourian Financial Advisors, Ltd

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  • Minimum assets required: No set minimum
  • AUM: $191,943,894
  • Individual investor to advisor ratio: 31:1
  • Fee structure:
    • A percentage of AUM
    • Hourly charges
    • Fixed fees
  • Firm phone number: 520-690-1999
  • Headquarters address:
    4100 N. First Avenue
    Tucson, AZ 85719

About Raskob Kambourian Financial Advisors, Ltd.

Raskob Kambourian Financial Advisors, Ltd. began as an investment adviser in 1986. Today, the firm is fully owned by its eponymous co-founder and president, Patricia Raskob. It provides its services to individual investors — a few of whom are high net worth, though most are not — as well as to pension and profit-sharing plans.

The firm’s main offerings for individual investors include investment management, as well as financial planning and consulting on specific topics, such as estate planning, business planning and insurance analysis. In some cases, the firm also offers tax planning services and prepares clients’ taxes.

Raskob Kambourian Financial Advisors, Ltd. investing strategy

Raskob Kambourian Financial Advisors relies on a combination of fundamental, technical and cyclical analysis to assess investment opportunities. This variety means that advisors evaluate particular investments based on factors including the management team and financial strength, as well as historical indicators and charts that can help the team identify patterns and relationships that are likely to continue.

In particular, Raskob Kambourian Financial Advisors uses a proprietary software that ranks all standard asset classes of actively managed mutual, equity, bond and blended funds, which serve as the core investments in client portfolios. Where there are opportunities available, the firm may add passively managed index funds and ETFs. Advisors also occasionally recommend certain outside managers to actively manage a portion of client assets.

Raskob Kambourian Financial Advisors, Ltd. disciplinary disclosures

Raskob Kambourian Financial Advisors has a clean disciplinary record. The firm discloses no legal or disciplinary actions against the firm or its employees in the prior 10 years that would materially affect a client’s evaluation of the firm or integrity of the management team. To learn more, you can visit the firm’s IAPD page.

9. Capital West Partners, LLC

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  • Minimum assets required: $100,000
  • AUM: $165,200,188
  • Individual investor to advisor ratio: 81:1
  • Fee structure:
    • A percentage of AUM
    • Hourly charges
    • Fixed fees
  • Firm phone number: 520-296-9803
  • Headquarters address:
    6842 E. Tanque Verde Road, Suite C
    Tucson, AZ 85715

About Capital West Partners, LLC

Jason Crane and Jason Ruther founded Capital West Partners in 2004 and are currently the firm’s co-owners. Working out of a single office in Tucson, the advisors at Capital West Partners, LLC serve individual investors and families both with and without high net worths. The firm, which generally requires a $100,000 account minimum, can also serve institutions such as charitable organizations, corporate accounts and pension and profit-sharing plans.

Clients primarily turn to the firm for portfolio management and financial consulting services.

Capital West Partners, LLC investing strategy

Capital West Partners employs a variety of investment research methods, including fundamental, technical and charting analysis. This combination means the firm’s advisors study many factors driving the value of a specific security, employ statistics and charts to identify patterns and forecast price trends and analyze business cycles.

Clients can expect advisors at Capital West Partners to recommend stocks, bonds, mutual funds, ETFs, money market funds and options contracts on securities; they may also suggest warrants, closed-end funds or exchange-traded notes, though these are used less often. In addition, advisors may recommend third-party money managers for some or all of a client’s portfolio.

Capital West Partners, LLC disciplinary disclosures

Capital West Partners discloses no legal or disciplinary events in the last 10 years involving either the firm or its employees. This includes any civil, criminal or regulatory actions that would be material to the evaluation of the firm or its management personnel. Visit the firm’s IAPD page to learn more.

10. Allied Portfolio Management, Inc.

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  • Minimum assets required: None specified
  • AUM: $144,200,723
  • Individual investor to advisor ratio: 102:1
  • Fee structure:
    • A percentage of AUM
    • Hourly charges
    • Fixed fees
  • Firm phone number: 520-296-1035
  • Headquarters address:
    5987 E. Grant Road
    Tucson, AZ 85712

About Allied Portfolio Management, Inc.

Allied Portfolio Management, Inc. has served as a financial advisor in the Tucson area since 1998. The firm is owned and operated by its founder and president, Steven Graham.

Allied Portfolio Management serves individuals and families (including high net worth individuals), as well as some institutions, such as pension and profit-sharing plans. Its bread and butter services include portfolio management and financial consulting. It also offers Institutional Intelligent

Portfolios, a robo-advisory tool sponsored by Schwab Wealth Investment Advisory, where clients can invest in a range of strategies designed and managed by Allied Portfolio Management.

Allied Portfolio Management, Inc. investing strategy

Allied Portfolio Management believes in passive management and structured asset class investing. Thus, advisors at Allied Portfolio Management primarily use institutional index and asset-class funds, as opposed to high-fee active management. Although the firm focuses on long-term investing, it may occasionally recommend short-term purchases, short sales, margin transactions and option writing.

Allied Portfolio Management typically works with clients on a discretionary basis, meaning clients do not approve each trading decision. However, non-discretionary relationships are also possible.

Allied Portfolio Management, Inc. disciplinary disclosures

Allied Portfolio Management has a clean disciplinary record. The firm discloses no legal or disciplinary items against the firm, its employees or its affiliates in the prior decade that would materially affect a client’s opinion of the firm or the management personnel. For more information, visit the firm’s IAPD page.

Financial advisors in Tucson: FAQ

Arizona does not charge residents a state estate tax or inheritance tax, though residents may be subject to federal estate taxes depending on the size of the estate. The income tax rate in Arizona falls in the mid- to low-end of the spectrum, with a top marginal rate of 4.50%.

To find a local planner, check out this search tool our team created to help find a financial advisor. You can narrow down potential advisors based on whether they offer the services you’re looking for, if you can meet their account minimum requirement and if you feel that their fees are fair. Once you’ve done your initial research, you’ll want to interview each advisor candidate to learn more and determine if they’re someone you’d be comfortable working with.

No, not all financial advisors are bound by fiduciary duty, which would require them to always act in their clients’ best interests. Instead, some financial professionals may only be held to the suitability standard, which simply requires them to make a suitable recommendation for their client rather than the absolute best; this means they could opt for the recommendation that earns them a higher commission. To learn more about what it means to be a fiduciary and why it matters, read this article.

While many financial advisors manage portfolios that one day will be used to fund a client retirement, not all advisors specialize in retirement planning. Some advisors may focus more on asset management, while others provide wealth management, including retirement planning (learn more about the difference here). Be sure to ask each potential advisor what specific services or tools they offer clients to plan for retirement if that is a specific concern you know you want your advisor to address.

The “Find a Financial Advisor” links contained in this article will direct you to webpages devoted to MagnifyMoney Advisor (“MMA”). After completing a brief questionnaire, you will be matched with certain financial advisers who participate in MMA’s referral program, which may or may not include the investment advisers discussed.