Choosing a financial advisor in Hawaii can be challenging given the number of options. Finding the right advisor is a lot about figuring out the proper fit, which requires an understanding of your financial needs and goals, as well as how much you’re willing to spend. When you finally find the right financial advisor, they can almost feel like family — ohana, as residents of the Aloha State might say.
That being said, we understand it can be difficult to compare firms and data points, so we’ve compiled the most important information to help guide your decision. To determine the best advisors in Hawaii, we only considered 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 to ensure the accuracy and reliability of our rankings.
Our ranking is not indicative of which firm may be best for you, but it can help make it easier to find an advisor who meets your needs. Take a look at our list below for the top firms in Hawaii and their key highlights:
How much would you like to invest?
|Firm||City||Minimum assets required||Fee structure|
|Cadinha & Co., LLC||Honolulu||$1 million||A percentage of AUM
|The Rice Partnership, LLC||Honolulu||None||A percentage of AUM
|Andrews Advisory Associates, LLC||Honolulu||$250,000||A percentage of AUM
|Yim Investment Management, LLC||Honolulu||$250,000||A percentage of AUM
|Kahala Financial Advisors, LLC||Honolulu||$500,000||A percentage of AUM|
|Shiraishi Financial Group Advisors||Honolulu||None required, but generally recommends at least $50,000||A percentage of AUM
Other (referral fees from third-party investment advisors)
|Robert Priske, LLC||Honolulu||$500,000||A percentage of AUM
|Fort Street Asset Management LLC||Honolulu||$1 million||A percentage of AUM
|BrightTree Financial||Honolulu||$100,000||A percentage of AUM
|Jennings Financial Planning, Inc.||Honolulu||None, except for fixed income portfolios||A percentage of AUM
For our search, we looked at firms across the state of Hawaii. 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 Hawaii, 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 June 22, 2021, but we urge you to also evaluate these firms on https://adviserinfo.sec.gov/.
Cadinha & Co., LLC was founded in 1979 by its current chairman, chief investment officer and chief strategist, Harlan Cardinha. Today, the firm is owned by Cadinha Partners and Cadinha Acquisition Corp., a subsidiary of the Harlan J. Cadinha Family Limited Partnership.
Cadinha & Co. offers investment management, financial planning and retirement services from its two offices in Honolulu (it also has a location in Park City, Utah). Cadinha & Co. typically works with clients who have at least $1 million to invest. However, the bulk of its clients are individuals who are not considered high net worth (the SEC defines high net worth individuals as those with at least $750,000 under management or a net worth of at least $1.5 million). The firm does also serve high net worth individuals, as well as trusts, estates, charitable organizations, pensions, profit-sharing plans and corporations in the state of Hawaii, the mainland U.S. and abroad.
To select potential investments, Cadinha & Co. begins with a big-picture analysis of the investment landscape and larger economic environment. As that process surfaces potential asset classes for investment, the firm analyzes specific companies to look for those that might be undervalued and poised for growth.
Cadinha & Co. typically uses a tactical asset allocation strategy for clients, making adjustments over time as market conditions change. In general, the firm places an emphasis on protecting the money its clients have already saved while generating solid returns.
Cadinha & Co. reports no disciplinary disclosures, meaning that neither the firm, nor its employees or affiliates, have faced any civil, criminal or regulatory actions in the past 10 years. The SEC requires that all registered investment advisors report any such events in their Form ADV and brochure filed with the SEC that would be material to a potential client evaluating the firm or the integrity of its management team.
For more information about Cadinha & Co., visit its IAPD page.
Founded in 2005, The Rice Partnership, LLC is primarily owned by chief compliance officer and director of client services Bonnie Rice (via her trust) and Orest Saikevych, who serves as chief investment officer. The firm offers asset management, financial planning and family office services, such as daily accounting and household and trust administration. It serves families and individuals, and highlights its work with several specific groups: professional athletes, multi-generational families, independent women and business owners. In addition, the firm can serve pension and profit-sharing plans, charities and businesses and corporations.
The Rice Partnership is headquartered in Honolulu. It has an additional Hawaii office location in Kahului on Maui, as well as a California office in San Luis Obispo.
When creating an investment plan or managing client assets, The Rice Partnership focuses on individualized investment objectives, customizing clients’ portfolios accordingly. In general, it says that it aims to “preserve, enhance; and, when possible, perpetuate our client’s wealth.”
The firm has a number of investment strategies it may use:
The Rice Partnership typically manages client assets on a discretionary basis, meaning that the firm can execute transactions on its clients’ behalf without getting their authorization every time.
The Rice Partnership does not disclose any disciplinary actions. The SEC requires all registered investment advisors to report any such events that may be material to a client’s evaluation of the firm or its management in their Form ADV paperwork.
For more information about The Rice Partnership, visit its IAPD page.
Longtime financial services professional Les Andrews launched Andrews Advisory Associates in 2006. He remains the investment manager and majority owner of the Honolulu-based firm.
Andrews Advisory Associates offers investment management services to individuals and families who both are and are not considered high net worth. Hourly financial planning is also available to clients as an additional service. In addition, the firm works with employers on their 401(k) plans.
A minimum investment of $250,000 is generally required for new clients with individual, business or retirement accounts.
When creating portfolios and making recommendations to its clients, Andrews Advisory Associates considers each client’s individual goals, time horizon and risk tolerance. The firm notes that its investment approach emphasizes low investment costs, periodic rebalancing, dollar-cost averaging and tax-loss harvesting.
Clients that work with Andrews Advisory Associates on a discretionary basis can typically choose from either its asset allocation portfolios, which include stocks, ETFs, mutual funds, certificates of deposit (CDs) and cash; or their Dividend Booster Discipline®, which includes about 25 U.S. stocks with a global footprint and history of increasing dividends. The firm generally recommends the latter to clients who have portfolios that are larger and more established.
Andrews Advisory Associates does not report any disciplinary disclosures. That means that the firm, its employees and its affiliates have not faced any civil, criminal or regulatory actions in the past decade.
Find out more about Andrews Advisory Associates by visiting the firm’s IAPD page.
Founded in 1999, Yim Investment Management is owned by its chief financial officer, Mario Yim. The firm offers portfolio management, retirement plan management and financial planning, regarding topics such as real estate, mortgage financing, life insurance, long term care and medical, Medicare and Medicaid planning.
Yim Investment Management’s clients typically include individuals, estates, trusts, charitable organizations, pension plans, profit-sharing plans and businesses, with a minimum of $250,000 typically required. The firm operates out of its sole office in Honolulu.
When planning portfolios and making investment recommendations, Yim Investment Management offers a variety of mutual fund and ETF strategies, ranging from income-focused to growth-focused. Depending on the selected risk category, the portfolio of no or low-cost funds will have different weightings of fixed income and equity holdings. The firm also creates stock portfolios, which are designed to achieve maximum total returns, and it sells variable annuity and variable life contracts.
Yim Investment Management selects investment using several different types of analysis. When managing portfolios, the firm may use short- and long-term purchases, as well as trading and short sales.
Yim Investment Management reports one disciplinary disclosure related to a complaint filed by a former client of less than a year. The client sought to hold the firm responsible for losses they incurred from their portfolio during a documented market downturn from March 2000 to February 2001, claiming that securities recommended to them were not as conservative and far riskier than their objectives. The client sought $110,000 in damages, plus legal costs and punitive fees; this amount was reduced to $44,000, and legal, arbitration and punitive fees were denied.
For more information about Yim Investment Management and the above incident, visit the firm’s IAPD page.
Financial planner Greg Miyashiro launched his business as a sole proprietorship in 1986; in 2007, he expanded the firm and changed its name to Kahala Financial Advisors, LLC. Miyashiro remains chief compliance officer of the firm, which he now co-owns with his son Ryan, who has been an advisor and portfolio manager at the firm since 2004.
The firm offers financial planning and investment management. Aside from one charitable organization, all of the firm’s clients are currently individuals who are not considered high net worth per the SEC’s definition (at least $750,000 under management or a net worth of at least $1.5 million). The firm, which requires a minimum investment of $500,000, serves clients from its sole office in Honolulu.
Kahala Financial Advisors creates investment portfolios for clients made up of low-cost, no-load, open-end mutual funds, following an asset allocation model that ranges from relatively low risk to high risk. The equity portion of portfolios contains stock mutual funds representing different segments of the market, while the debt portion includes cash equivalents, high-quality U.S. government securities and corporate bonds.
The team at Kahala Financial Advisors follows a “buy-and-hold” approach to investing, rather than attempting to time the markets. It encourages clients to remain fully invested regardless of market conditions, rebalancing as necessary. However, rather than simply riding out the ups and downs of the markets, Kahala Financial Advisors takes a contrarian approach. This means that it may opt to sell stocks, which tend to be riskier, to purchase bonds, which are generally considered safer, during good times, and vice versa during market lows.
Kahala Financial Advisors does not disclose any disciplinary information. That means that neither the firm, nor its employees or affiliates, have had any civil, criminal or regulatory actions over the past decade. As a registered investment advisor, the firm must report this information to the SEC.
Learn more by visiting Kahala Financial Advisor’s IAPD page.
Launched in 2013, Shiraishi Financial Group Advisors is owned by founder and CEO Herbert Shiraishi, offering clients investment management and life insurance services. In addition, it can provide financial planning and consulting on a wide range of topics including retirement planning, estate planning, educational planning, tax planning and risk management, and also specializes in retirement planning for members of the National Education Association’s retirement program.
Clients of the firm include individual investors (including some who are high net worth), as well as pension and profit-sharing plans. Though the firm doesn’t formally require a minimum investment, it generally recommends that its clients invest at least at least $50,000 in order to properly diversify their account.
In addition to its Honolulu headquarters, Shiraishi Financial Group Advisors has an office in Hilo, Hawaii.
Shiraishi Financial Group Advisors allocates client investments among its five model portfolios depending on each client’s financial situation and goals. The firm primarily uses long- and short-term purchases of no-load and load-waived mutual funds, though these may span several asset categories, including stocks, bonds and cash. In addition, the firm will strategically reallocate as market conditions change.
Shiraishi Financial Group Advisors believes in efficient market theory, which holds that the current price of a security reflects all currently known information and that day-to-day price changes are random and unpredictable.
Shiraishi Financial Group Advisors reports no disciplinary disclosures. This includes any civil, criminal or regulatory actions against the firm, its employees or its affiliates over the past 10 years.
Find more information about Shiraishi Financial Group Advisors by visiting its IAPD page.
Robert Priske is the owner and investment manager at his namesake firm, which launched in 1987. This small firm operates out of its Honolulu office.
Robert Priske provides a range of services to individuals both high net worth and otherwise, including investment management, financial planning, retirement planning, tax planning, estate planning and real estate services. In particular, the firm specializes in working with health care professionals and their pension plans. The firm generally requires an investment of at least $500,000 to start an account.
Robert Priske creates portfolios for its clients based on their investment goals and risk tolerance. Portfolios are typically heavily weighted toward stocks, but also usually include ETFs, real estate investment trusts (REITs), government bonds and option contracts. Rebalancing occurs whenever clients’ circumstances or market conditions change.
The firm uses a range of investment strategies, including long- and short-term purchases, short sales, margin transactions and options.
Robert Priske does not report any disclosures on its SEC paperwork, meaning it has a clean disciplinary record with no civil, criminal or regulatory actions within the past 10 years. For more information about Robert Priske, visit the firm’s IAPD page.
After working together at Morgan Stanley Wealth Management, Richard Wertheimer and Clint Dodson co-founded Fort Street Asset Management in 2019. They remain the firm’s principal owners; Wertheimer serves as portfolio manager and Dodson oversees operations and client services. The firm operates out of its Honolulu office.
Fort Street Asset Management offers portfolio management services and strategic financial advice, primarily to high net worth individuals. It typically requires a minimum investment of $1 million, though this minimum can be waived at the firm’s discretion in certain circumstances.
Fort Street Asset Management holds a diversified portfolio of typically 25 to 50 stocks in markets in the U.S. and China, which are then typically held for the long term. The firm does not attempt to time the markets.
To select stocks for investment, Fort Street Asset Management looks for stable companies with growing revenues, whose stocks rise in value over time. While the firm focuses primarily on in-depth research on potential investments, it does take macro-economic factors into account when determining asset allocation, cash levels and the appropriate stock mix.
Fort Street Asset Management’s Form ADV paperwork filed with the SEC does not report any disciplinary disclosures. That means that neither the firm, nor its employees or affiliates, have faced any civil, criminal or regulatory actions in the past decade.
For more information about Fort Street Asset Management, visit the firm’s IAPD page.
Financial advisor Harold Green launched BrightTree Financial in 2019 and remains the firm’s owner. The small team works out of the firm’s sole office and headquarters in Honolulu.
BrightTree Financial offers wealth management and investment advisory services, as well as financial planning, retirement planning and advice and management for pension and 401(k) plans. With a minimum account size requirement of $100,000, all of the firm’s current clients are individuals who do not meet the definition of high net worth.
For clients in the firm’s Rapid Retire program, BrightTree Financial creates an investment plan based on that client’s retirement date. The investment strategy for Rapid Retire combines cash management along with the two following techniques:
This strategy typically invests in stocks, bonds, mutual funds and REITs. To evaluate investment opportunities, BrightTree primarily relies on Portfolio X-Ray by Morningstar, a tool that analyzes a portfolio’s overall asset allocation and sector weightings.
BrightTree Financial does not report any disciplinary disclosures, meaning the firm has not had any civil, criminal or regulatory events within the past 10 years that a client would find pertinent to their evaluation of the firm and its management.
For more information about BrightTree Financial, visit the firm’s IAPD page.
Monica Jennings launched Jennings Financial Planning, Inc. in 2004. She remains the primary owner of the firm, which has just one office based in Honolulu.
Jennings Financial Planning bills itself as a “wealth advocate,” providing financial planning and wealth management to a small number of individuals and high net worth individuals. The firm generally does not require a minimum investment, though it does have a minimum annual fee of $7,500 for advisory services. The only exception to this is for individual fixed income portfolios, which require a minimum account size of $500,000.
Jennings Financial Planning takes a long-term approach to investing and incorporates the principles of modern portfolio theory. With this theory, markets are held as efficient over time and overall asset allocation — not market timing or stock picking — is considered the primary determination of portfolio performance. The firm’s diversified portfolios typically include a mix of mutual funds and fixed-income securities, as well as ETFs.
The firm avoids any securities that it believes have “unusual risks,” and recommends against frequent trading, due to its associated brokerage and other costs, as well as taxes.
Jennings Financial Planning does not report any disciplinary disclosures. That means it hasn’t experienced any civil, criminal or regulatory events over the past 10 years that a client might find material to their evaluation of the firm or its management.
For more information about Jennings Financial Planning, visit the firm’s IAPD page.
No, not all financial advisor firms specialize in retirement planning, though many do provide that service. If retirement planning is among your financial priorities, look for an advisor who has experience in that area and can provide the service that you need.
The Aloha State has 13 income tax brackets — the most in the country — ranging from 1.40% to 11.00%, depending on your income, and it also has property and sales taxes. Hawaii is ranked as 10th for state and local income tax collections per capita by the Tax Foundation, an independent think tank that focuses on tax policy.
In addition, the state levies an estate tax of up to 20%, and residents of the Aloha State may also be subject to federal estate taxes. Hawaii does not have an inheritance tax.
Working with a fee-only financial advisor eliminates potential conflicts of interest. That’s because fee-only advisors don’t get paid via commission, so they don’t have an incentive to sell specific financial products. Fee-based financial advisors, on the other hand, can earn money from sources other than fees that clients pay, which could motivate them to recommend certain products or services.
To know which financial advisor in Hawaii is right for you, start by thinking about which services you need — for example, that might include retirement planning, financial planning or college savings. Then, look for a firm with a minimum account requirement you can meet and a fee structure you’re comfortable with.
Once you’ve got a few potential advisors, ask for an informational interview, so you can get a feel for whether their style is a good fit for your needs. Asking questions and doing your research will help ensure that you find a financial advisor who is right for you.
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.