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Top 3 Wealth Advisory Firms for High Earners

and how to find the one for you...

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Finance
Sep 26, 2024

High earning individuals know time is their most valuable asset. Every financial decision made should maximize not just your wealth, but also your time.

Managing significant assets requires more than just basic advice—it demands a tailored approach that addresses the complexities of your financial situation. You need a wealth advisor who understands your unique challenges and can deliver sophisticated strategies for wealth growth, tax planning, and retirement optimization.


Finding the top financial advisor in the United States means choosing between thousands of options. Whether you're looking for help with retirement, wealth management or tax planning, the U.S. is home to thousands of advisors that can meet your specific needs. Based on the methodology outlined below, we have identified these financial advisor firms as among the top 3 financial advisor firms in the U.S.⁴


Luckily, services like Datalign Advisory can connect you with top-tier financial advisors who specialize in working with portfolios starting at $100K and up—helping you reach your financial goals faster.

Methodology

To find the top financial advisors in the U.S., we first identified all firms in the country registered with the SEC. Next, we filtered out firms that don't offer financial planning services, those that don't primarily serve individual clients, and those that have disclosures on their record. The qualifying firms were then ranked according to the following criteria:

  • AUM: Firms with more total assets under management are ranked higher.
  • Individual Client Count: Firms that serve more individual clients (as opposed to institutional clients) are ranked higher.
  • Clients Per Advisor: Firms with a lower ratio of clients per financial advisor are ranked higher.
  • Years In Business: Firms that have been in business longer are ranked higher.
  • Fee Structure: Firms with a fee-only (as opposed to fee-based) compensation structure are ranked higher.

Why It’s Critical for High Earners to Review Their Retirement Strategy Now

As a high earner, safeguarding your financial future is essential, especially in today’s uncertain economic climate. According to Bank of America’s Chief Investment Office, we may not see true economic normalization until as late as 2025. This uncertainty means that even a well-established financial plan could fall short of sustaining your lifestyle throughout retirement.

Making emotionally driven decisions, such as selling off significant investments during volatile times, can lock in losses and limit future growth opportunities. High-net-worth individuals who work with a fiduciary financial advisor tend to feel more confident about their financial security and, research shows, could potentially retire with 15% more wealth.

For example, a recent Vanguard study found that a $500K investment portfolio managed by an advisor could grow to over $3.4 million in 25 years. In contrast, a self-managed portfolio is expected to yield just $1.69 million—nearly 50% less. An advisor-managed portfolio could deliver 8% annualized growth over 25 years compared to just 5% from self-management.

As someone accustomed to success, partnering with a fiduciary advisor can ensure that your financial strategy is aligned with both your short- and long-term goals, helping you secure the lifestyle you’ve worked hard to achieve.

Choosing a winner in sea of mediocrity

With thousands of financial advisors to choose from in the U.S. how do you know which one is right for you? Datalign Advisory has created a free tool to match you with the most suitable advisor based on your personal and financial needs.

Why Choose Datalign Advisory? A Legal Commitment to Your Financial Success

Datalign Advisory has connected thousands of individuals with top-tier financial advisors. Every advisor undergoes a rigorous screening process through their proprietary due diligence system. They exclusively partner with fiduciaries, guaranteeing that every advisor consumers are matched with is legally obligated to prioritize their interests first.

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Sources:


¹Vanguard (February 2019), Putting a Value on Your Value The projections or other information regarding the likelihood of various investment outcomes are hypothetical in nature, do not reflect actual investment results, and are not guarantees of your future results. Please see the methodologies employed in the Vanguard whitepaper. To receive a copy of the whitepaper, please contact: compliance@bankr.com

²"Journal of Retirement Study Winter" (2020). The projections or other information regarding the likelihood of various investment outcomes are hypothetical in nature, do not reflect actual investment results, and are not guarantees of your future results. Please follow the link to see the methodologies employed in the Journal of Retirement study.

³https://www.bls.gov/ooh/business-and-financial/personal-financial-advisors.htm

⁴These stats are updated annually and are accurate as of May 25th 2023. This list may include firms that have a business relationship with our recommended matching tool Datalign Advisory, in which Datalign Advisory is compensated for lead referrals. Such relationships have no impact on our rankings, and firms are included and ranked based strictly on the above criteria. Datalign Advisory is not a client of the aforementioned firms. Datalign Advisory did not receive compensation for including any of the firms on the aforementioned list.