Choosing a financial advisor can be challenging given the number of financial advisors in Florida. Finding the right advisor is a lot about figuring out the proper fit, which means understanding your financial needs and goals and how much you’re willing to spend.
That being said, we understand comparing firms and data points can be difficult, so we compiled the most pertinent information to help. To determine the best financial advisors in Florida, we looked at firms that manage individual accounts and offer financial planning services and then ranked these firms based on assets under management (AUM). All data used in our Form ADV filing with the Securities and Exchange Commission (SEC).is taken from each firm’s most recent
Our ranking is not indicative of which firm may be best for you, but it can help make the shopping experience easier. Use our form to find a financial advisor, or take a look at our list below for the top firms in Florida and their key highlights:
How much would you like to invest?
|Firm name||City||Minimum assets required||Fee structure|
|WE Family Offices||Miami||Not specified, but $150,000 minimum fee|| |
|CV Advisors LLC||Aventura||$50 million|| |
|J.W. Cole Advisors, Inc.||Tampa||$10,000|| |
|Finaccess Advisors, LLC||Miami||None|| |
|Advus Financial Partners, LLC||Lake Mary||$1 million|| |
|Evensky & Katz/Foldes Financial Wealth Management||Coral Gables||$1 million (though exceptions may be made)|| |
|GenTrust||Miami||$10 million|| |
|Ingham Retirement Group||Miami||$100,000|| |
|Resource Consulting Group||Orlando||$1 million|| |
|CPS Investment Advisors||Lakeland||Not specified|| |
WE Family Offices offers a one-stop financial services shop for high net worth families, providing a range of family office services including investment advice, portfolio construction and financial planning. WE, which stands for Wealth Enterprise, manages each family’s wealth as though it were a business enterprise, and each WE Family Office team member has experience working with large financial institutions. The firm pairs each client with a team of advisors that is led by a designated advisor.
Founded in 2000, WE Family Offices was originally established as TBK Investments. After a stint with big bank ownership, the firm is now independently owned by WE Family Offices Holdings, LLC, in which principals at the firm hold an ownership interest.
In addition to its Miami location, WE Family Offices has an office in New York City.
WE Family Offices is a non-discretionary investment advisor, which means clients have the final authority on all investment decisions. The firm will provide asset recommendations and advice, while taking into account factors like the client’s risk tolerance, tax issues, liquidity needs and estate planning concerns. Clients are responsible for selecting the custodian for their investment accounts.
WE Family Offices offers values-aligned investing, which allows clients to invest in areas they care about, such as the environment or social causes. This strategy weighs a portfolio’s social and environmental impact alongside its financial returns.
In general, WE avoids investing in IPOs, as they tend to take on too much risk despite their potential reward. It also generally does not recommend individual stocks or bonds.
WE Family Offices has no disciplinary disclosures on its record. This includes any civil, regulatory or criminal actions against the firm, its advisors or its affiliates over the last 10 years. For more information, visit the firm’s Investment Adviser Public Disclosure (IAPD) page.
CV Advisors LLC serves high net worth individuals, providing services for estates, trusts, foundations, endowments and charitable organizations with at least $50 million in investable assets.
Located in Aventura, Fla., CV Advisors was founded in 2009 and registered with the SEC in August 2012. It is owned by its founding partners and current managers, Elliot Dornbusch, Alexandre Mann and Matthew J. Storm.
While taking the client’s investing preferences and goals into account, CV Advisors emphasizes building a portfolio focused on liquidity, risk management and cost efficiency. It starts with “top-down” allocation across asset classes, followed by a “bottoms-up” analysis of individual investments.
While CV Advisors focuses on long-term gains, it will often use short-term investments and trading for tactical reallocations to manage risk or take advantage of a specific investment opportunity. Portfolios typically include fixed income, exchange-traded funds (ETFs), foreign securities, certificates of deposit (CDs) and more.
CV Advisors does not have any disciplinary actions to disclose, which include any civil, regulatory or criminal actions against the firm, its advisors or its affiliates from the past decade. For the most up-to-date information, visit the firm’s IAPD page.
J.W. Cole Advisors Inc. serves individuals, estates, trusts, pension plans and other entities with at least $10,000 in assets, though some programs may require higher minimum investments. Alongside investment management services, the firm may also provide separate financial planning and consulting services, including planning for retirement, taxes and risk management.
J.W. Cole Advisors registered with the SEC in 2000. The firm is privately owned by its founding principal, John Carlson, who serves as the firm’s current president, CEO and CFO. In addition to its Tampa office, J.W. Cole Advisors has an additional 315 offices throughout the country.
J.W. Cole Advisors offers clients the choice between three different managed programs:
When evaluating potential investments, the firm may use fundamental and technical analysis, focusing on an investment’s wellbeing (based on the company’s current financial condition and wider financial considerations) as well as stock price movement, including market trends and patterns. Specific investment strategies will depend on a client’s own goals and preferences.
J.W. Cole Advisors representatives will review a client’s portfolio and goals at least annually.
J.W. Cole Advisors reports a disciplinary disclosure in its Form ADV, paperwork that all registered investment advisors must file with the SEC. The disclosure relates to allegations from the SEC that the firm had not fully disclosed fees related to mutual fund share classes, and had recommended those mutual fund share classes when lower cost share classes were available for the same fund. Further, the SEC alleged that the firm had failed to adequately disclose conflicts of interest related to these fees and its selection of certain share classes. Without admitting or denying any wrongdoing, J.W. Cole Advisors agreed to pay a penalty totaling $1,957,053.11 and updated its policies and procedures.
For more information, visit the firm’s IAPD page.
Finaccess Advisors, LLC provides its services to individuals, high net worth individuals, pooled investment vehicles, charitable organizations and corporations. In addition to wealth management and investment advisory services, Finaccess Advisors offers financial planning services, including retirement and estate planning, cash flow management and insurance planning.
Founded in 2009, Finaccess Advisors is registered to do business in Florida. Its only office is located in Miami. The firm is primarily owned by Grupo Finaccess, S.A.P.I. de C.V., an investment company formed by a group of private investors.
Finaccess Advisors’ main methods of analysis when selecting investments for client portfolios include fundamental analysis, charting/technical analysis and cyclical analysis. Fundamental analysis measures the value of a security by looking at the overall economy, industry conditions and the company’s status, while charting/technical analysis focuses on past market movements to find patterns and potentially predict future prices. Cyclical analysis, on the other hand, attempts to predict the price of a specific stock by comparing it to the overall market.
Finaccess Advisors uses these strategies together to provide a holistic look at a portfolio’s potential returns and risks. The exact investment strategies used depend on the client and their objectives, but can include long-term purchases, short-term purchases and trading.
Finaccess Advisors has no disciplinary or legal events to disclose on its Form ADV paperwork filed with the SEC. Disclosures are defined as any civil, regulatory or criminal actions taken against the firm, its advisors or its affiliates over the last 10 years. For the most up-to-date information, visit the firm’s IAPD page.
Advus Financial Partners is an investment advisory firm founded in 2021 that aims to deliver conflict-free advice to its clients. The firm, which generally prefers its clients to invest at least $1 million, primarily works with individual investors, qualified retirement plans and foundations and endowments. Available services for individuals include investment management, wealth planning and wealth management, which includes both investment management and wealth planning services.
The firm is solely owned by Mark Lamoriello, who serves as Advus Financial Partners’ CEO. Advus Financial Partners was created upon the purchase in 2021 of LAMCO Advisory Services, Inc., an established investment advisory firm that was in operation for over 30 years. Currently, the firm’s only office location is in Lake Mary, Fla.
Advus Financial Partners works with each client to determine an appropriate investment strategy based on their portfolio objectives. Specifically, the firm will take into account factors like the client’s risk tolerance, return objectives, time horizon, liquidity needs, asset class preferences and any unique restrictions or tax circumstances.
To build client portfolios, Advus Financial Partners generally uses a variety of pooled investment vehicles and account strategies that are overseen by investment advisors. As part of a client’s investment strategy, each of the recommended investments or managers is assigned a weight that is in line with the client’s overall asset allocation. The firm’s investment policy committee is responsible for making these decisions, and in doing so, they generally prioritize diversification by allocating client funds among the four broad asset classes of global equity, fixed income, diversification strategies and cash/cash equivalents.
Advus Financial Partners has no disciplinary disclosures to report. For reference, all registered investment advisors are required by the SEC to report in their Form ADV any civil, criminal or regulatory issues within the last 10 years involving the firm, its employees or its affiliates.
For further information on this firm, visit its IAPD page.
Evensky & Katz/Foldes Financial Wealth Management offers wealth management and investment advisory services to its clients. It may also offer investment advice through consultations, and it serves as an ERISA investment fiduciary and an advisor to plan fiduciaries. On occasion, the firm may advise its clients on topics not strictly related to securities, such as financial planning matters like taxation, insurance and estate planning.
Although the firm generally prefers its clients to invest at least $1 million, it may make exceptions to this minimum if it believes the clients will bring their account up to this amount within a “reasonable time,” or if the client is an employee of the firm or their relative, or a relative of an existing client. The firm works with individuals, including high net worth individuals, 401(k) plans, pension and profit-sharing plans, 403(b) plans, trusts, estates, charitable organizations and corporations or business entities.
This firm is formally registered with the SEC as Evensky & Katz but conducts business as Evensky & Katz/Foldes Financial Wealth Management. The Evensky & Katz portion of the firm was founded in 1985, and in 2014, it purchased Foldes Financial Management, which was founded in 1996. The collective firm is owned by the firm’s advisors and other employees.
In addition to an office in Coral Gables, Fla., the firm has a location in Bellevue, Wash.
Evensky & Katz/Foldes Financial Wealth Management’s primary investing strategy is strategic asset allocation. It takes an equity core and satellite strategy in which it uses mainly passively managed index funds and ETFs as core investments in its equity allocations. It then adds specialty sector and actively managed funds where it believes it will be effective.
The firm aims to control risk through global diversification. Each client’s portfolio is tailored based on the objectives they state during consultations, though they may change these objectives at any time.
Evensky & Katz/Foldes Financial Wealth Management does not report any disciplinary disclosures. For reference, this includes any civil, criminal or regulatory events within the past decade involving the firm, its employees or its advisory affiliates.
For additional information on Evensky & Katz/Foldes Financial Wealth Management, visit its IAPD page.
GenTrust offers its clients wealth management, investment management, risk management, financial planning and consulting services. Though the bulk of its clients are high net worth individuals (defined by the SEC as those with at least $750,000 under an advisor’s management or a net worth believed to be at least $1.5 million), it also serves a small number of individuals who are not high net worth as well as pooled investment vehicles, sovereign wealth funds and foreign official institutions and businesses.
A minimum account size of $10 million is generally required, though the firm can waive this minimum at its discretion. Additionally, the accounts of family members can be aggregated in order to meet the firm’s minimum requirement.
The firm, which is primarily owned by five members of the firm, was founded in 2011 by two former Merrill Lynch advisors and a hedge fund number cruncher. Headquartered in Miami, GenTrust also has an office location in New York City.
GenTrust’s approach to investing is centered on making institutional-quality investment design and risk management accessible to individuals and families. When building portfolios, the firm incorporates academic research as well as extensive primary research. It also adheres to a focus on asset allocation and diversification.
A client’s core asset allocation is based on an asset class’s expected performance during various macroeconomic scenarios. Additionally, the firm takes into account forward- and backward-looking risk analyses to assess a portfolio’s risk and further optimize allocations. Also taken into consideration are the fundamental links between asset classes, which GenTrust uses to determine the relative value of asset classes and adjust allocations as needed.
In general, client assets are allocated among mutual funds, ETFs, individual debt and equity securities, options and independent managers, anong other securities that align with the individuals’ objectives. Those who are accredited investors or qualified purchasers, more sophisticated classes of investors, may have access to additional investment opportunities, such as hedge funds and private investments.
Gentrust does not have any disciplinary disclosures to report at this time. This means that, in the past decade, the firm and its employees and advisory affiliates have not encountered any civil, regulatory or criminal issues. For reference, the SEC requires all registered investment advisors to report this information in their Form ADV filings.
To access Gentrust’s Form ADV and to learn more about the firm, visit its IAPD page.
Ingham Retirement Group provides continuous investment supervisory services, non-continuous asset management, pension consulting services and a range of financial planning services. It also can create a client’s asset allocation strategy and then connect them with a third-party manager who best fits the client’s needs. The firm primarily serves individual investors, though its current client base also includes high net worth individuals and pension and profit-sharing plans.
Ingham Retirement Group, also known as Ingham/Russell Investment Advisors, Inc. was founded in 1991. Its only location is in Miami. The firm is a wholly owned subsidiary of Ingham & Company, which is in turn owned through several holding companies.
Ingham Retirement Group manages client assets either on a discretionary or non-discretionary basis, depending on whether the client wants to sign off on every investment decision (non-discretionary) or is comfortable with their advisor making decisions on their behalf (discretionary). Clients may choose either individual portfolio management or model portfolio management, where each portfolio is geared toward a specific goal rather than a client’s individual needs.
Model portfolios tend to focus on ETFs, over-the-counter securities and mutual fund shares, while individual portfolios consider other assets as well, such as CDs, variable life insurance and municipal securities. Clients may establish restrictions on certain securities or industry sectors.
Ingham Retirement Group focuses on achieving a balanced asset allocation, as opposed to specific securities selection. When purchasing securities, the firm aims to hold them in client accounts for at least a year. Ingham Retirement Group will review and rebalance portfolios annually, unless instructed otherwise.
Ingham Retirement Group does not have any reportable disciplinary events. This includes any civil, regulatory or criminal actions against the firm, its advisors or its affiliates over the last 10 years. For the most up-to-date information, visit the firm’s IAPD page.
Resource Consulting Group offers investment management, investment advisory and financial planning services to individuals and high net worth individuals as well as institutional investors. Though its account minimum is set at $1 million, almost a quarter of its individual clients do not meet the SEC’s definition of a high net worth individual, which is someone with at least $750,000 under management or a net worth of at least $1 million.
Resource Consulting Group, Inc. was founded in 1988 by Michael H. Davis, who remains the firm’s principal owner and CEO. Its only office is located in Orlando.
Resource Consulting Group’s investment approach is based on modern portfolio theory, which emphasizes diversification across asset classes. The firm takes a more passive approach to investing that’s based on academic research and historical data, including a fund’s structure, its performance compared to similar funds, portfolio turnover and investment restrictions and limitations.
In general, the firm favors investment trusts and mutual funds, especially those invested in U.S. and foreign stocks, investment-grade fixed income securities, U.S. government and government agency securities and domestic and foreign real estate investment trusts (REITs).
Clients can establish whether there are any types of securities they do not want to invest in. However, Resource Consulting Group’s advisors generally operate on a discretionary basis, giving them the authority to make decisions regarding asset purchases, sales, trades and transaction costs without first getting the client’s express approval.
Resource Consulting Group has no disciplinary infractions to disclose. Disclosures include any civil, regulatory or criminal actions against the firm, its advisors or its affiliates over the last 10 years. For more information, visit the firm’s IAPD page.
CPS Investment Advisors, officially registered with the SEC under the name Chas. P. Smith & Associates, PA, CPA’s, is an investment advisory firm that primarily works with individual investors who are not considered high net worth (per the SEC, the high net worth threshold is having at least $750,000 under an advisor’s management or a net worth believed to be at least $1.5 million). Additionally, the firm works with high net worth individuals, pension and profit-sharing plans, charitable organizations and businesses. It does not specify a minimum investment requirement.
Services the firm can provide include investment supervisory services, personal financial counseling, cash management services and various 401(k) services. In business since 1989, CPS Investment Advisors is owned by Peter C. Golotko, the firm’s president and CEO; Michael A. Riskin, vice president and treasurer; and Nolen B. Bailey, vice president and director of retirement plan services.
CPS Investment Advisors takes a value-driven approach to investing, aiming to buy securities when they are undervalued and have a likelihood of achieving above-average returns in the future. To assess potential investment opportunities, the firm relies on fundamental analysis and also looks for companies trading below their historical averages.
To add appropriate diversification to client accounts, CPS Investment Advisors may turn to mutual funds, index funds or ETFs where market research is limited. The firm sticks to a long-term approach, believing that short-term market movements can sometimes occur in response to non-factual information. Ultimately, CPS Investment Advisors is focused on helping its clients to successfully transition into retirement.
CPS Investment Advisors does report a disciplinary disclosure related to an individual advisory affiliate at the firm. Specifically, the Florida Office of Financial Registration alleged that the individual had conducted investment advisory business from a location within the state of Florida without being lawfully registered, resulting in a fine of $13,750.
For additional information on CPS Investment Advisors, visit its IAPD page.
Florida does not have state income, estate or inheritance taxes, which makes it an attractive state to live in, especially for retirees. This means not only are your earned wages safe from state taxes, but so is the interest you earn on investments.
No, although many do offer retirement planning services. It’s important to ask an advisor about their specialties and the typical types of clients they work with to get a better understanding of the services they can provide.
You may need a financial advisor if you have a high net worth, or are preparing for or going through a specific or unique financial situation, such as a life milestone. A financial advisor can help you sort out your finances in those situations and create a portfolio that aligns with your goals and needs.
For instance, if you’re trying to figure out your retirement plan, a financial advisor can help you determine the best places to keep your retirement savings and then navigate your new tax burden once you’re in retirement.
Before signing on with a financial advisor, however, it’s important to consider if the cost is worthwhile given your financial situation. Many advisors require minimum investment thresholds and fees can be higher for those with smaller portfolios.
Financial advisor is a catchall term for a professional who can offer a variety of financial services. This may include asset management, debt payment, insurance management and financial planning. A financial planner is a type of financial advisor who focuses more on a person’s holistic financial life and the creation of a financial plan to help them reach their goals.
For our search, we looked at firms across Florida. All of the firms considered are bound by fiduciary duty, registered with the 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 Florida, 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 19, 2022, but we urge you to also evaluate these firms at adviserinfo.sec.gov.
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.