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Best financial advisors

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Best financial advisors

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Written by Alana Benson
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Edited by Arielle O'Shea
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Advertiser disclosureLast Update: August 14, 2024
Many, or all, of the products featured on this page are from our advertising partners who compensate us when you take certain actions on our website or click to take an action on their website. However, this does not influence our evaluations. Our opinions are our own. Here is a list of our partners and here's how we make money.
The investing information provided on this page is for educational purposes only. NerdWallet, Inc. does not offer advisory or brokerage services, nor does it recommend or advise investors to buy or sell particular stocks, securities or other investments.

The best financial advisors let you pay for the services you want and skip paying for the ones you don't. They charge reasonable fees, adjust their approach to meet your specific needs, and offer a variety of ways to get in touch, including virtual meetings.

Our deep, independent analysis sorts through key details to find and evaluate the information investors want when choosing a financial advisor. To see our full methodology and learn more about our process, read our criteria for evaluating online financial advisors.

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    Over 60 investment account providers reviewed and rated by our expert Nerds.

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    More than 50 years of combined experience writing about finance and investing.

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    Extensive review of the features that matter most to average investors.

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    Dozens of objective ratings rubrics, and strict guidelines to maintain editorial integrity.

NerdWallet’s comprehensive review process evaluates and ranks companies that provide financial planning services online or connect users to a financial advisor. Our aim is to provide an independent assessment of providers to help arm you with information to make sound, informed judgements on which ones will best meet your needs. We adhere to strict guidelines for editorial integrity.

We collect data directly from providers through detailed questionnaires, and conduct first-hand testing and observation through provider demonstrations. The questionnaire answers, combined with demonstrations, interviews of personnel at the providers and our specialists’ hands-on research, fuel our proprietary assessment process that scores each provider’s performance across more than 20 factors. The final output produces star ratings from poor (one star) to excellent (five stars).

For more details about the categories considered when rating financial advisors and our process, read our full methodology.

How we pick the best financial advisors for this list

First of all, all of the below firms are fiduciary financial advisors, which means they're required to put your interests above their own.

Some of the companies we've included have in-house financial advisors. Others operate a network of participating advisors all over the country.

In many cases, working with an advisor through these firms is cheaper than finding a traditional local advisor, but you'll still have a 1-to-1 relationship with an advisor who knows your financial situation and understands your needs.

Also on our list of the best advisors are a few companies that manage your portfolio for you and offer you access to a team of financial advisors on an as-needed basis. In most cases, you'll talk to a different advisor each time, but you'll pay an even lower fee if you opt for one of these services.

We've categorized our list into services that match you with a dedicated financial advisor for more comprehensive advice, and lower-cost services that offer a team of advisors.

Below are our picks for the best financial advisors in both categories, as well as how to decide which financial advisor is best for you.

Best financial advisors

Some of the financial advisors below can match you with a local advisor, while others operate online and meet with clients virtually, via phone or video call.

BrokerNerdWallet rating Question markFeesAccount minimumPromotionLearn more
Zoe Financial company logoZoe Financial
on Zoe Financial's website
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Paid non-client promotionQuestion mark
Gray star

5.0

/5
Reviewed in: Oct. 2023Period considered: Aug. - Oct. 2023
Varies by Advisor (free initial consultation)

$150,000

3-Month Satisfaction Guarantee

on Zoe Financial's website
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Paid non-client promotionQuestion mark
Betterment Premium company logoBetterment Premium
on Betterment's website
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Paid non-client promotionQuestion mark
Gray star

4.1

/5
Reviewed in: Oct. 2023Period considered: Aug. - Oct. 2023
0.40%management fee

$100,000

Get 1% match

of your net Roth and traditional IRA contributions until December 30, 2024. Terms apply.
on Betterment's website
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Paid non-client promotionQuestion mark
Vanguard Personal Advisor company logoVanguard Personal Advisor
on Vanguard's website
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Paid non-client promotionQuestion mark
Gray star

4.3

/5
Reviewed in: Oct. 2023Period considered: Aug. - Oct. 2023
0.35%management fee

$50,000

None

no promotion available at this time
on Vanguard's website
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Paid non-client promotionQuestion mark
Facet company logoFacet
on Facet's website
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Paid non-client promotionQuestion mark
Gray star

5.0

/5
Reviewed in: Oct. 2023Period considered: Aug. - Oct. 2023
$2,000 and upper year (free initial consultation)

$0

Limited time $550 kick-start offer!*

Get $300 into your brokerage account if you invest & maintain $5k within your first 90 days, plus the $250 enrollment fee will be waived for new annual members. Expires Dec 31, 2024
on Facet's website
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Paid non-client promotionQuestion mark
J.P. Morgan Personal Advisors company logoJ.P. Morgan Personal Advisors
on J.P. Morgan's website
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Paid non-client promotionQuestion mark
Gray star

3.7

/5
Reviewed in: Jan. 2024Period considered: Aug. 2023 - May 2024
0.5% - 0.6%management fee

$25,000

None

no promotion available at this time
on J.P. Morgan's website
AD
Paid non-client promotionQuestion mark

Finding the best financial advisor for you

Here are a few things to keep in mind as you review this list of financial advisors and compare options:

1. Your budget for advice. As noted above, simple, digital-only services will be less expensive; holistic financial planning will be more. It's a good idea to know what you're comfortable spending before you dive in.

2. What services you need. Maybe you just want help picking investments, or maybe you need advice on more advanced topics, like estate planning or insurance needs. These requirements will help you choose what type of financial advisor you need — typically, a robo-advisor is a good fit for investment management, but you'll need a financial advisor for advanced planning. (View our picks for the best robo-advisors.)

3. Whether you want in-person or online advice. If you don’t mind meeting with your advisor virtually, you'll often save money with an online service. These services also typically have lower account minimum requirements than traditional investment advisors. No matter what option you choose, it's always important to check qualifications and make sure they follow a fiduciary standard, which means your needs come first.

» Need more information? Learn how to choose between financial advisors

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Our picks for 1-to-1 relationship with a financial advisor

These services will match you dedicated financial advisor who meets your needs — in most cases, you'll have free introductory meetings with a few advisors before choosing the one for you. You'll work with the same advisor on an ongoing basis, meeting virtually or in person if the advisor is local and offers that service.

Our picks for access to a team of financial advisors

Financial advisor FAQs

What does a financial advisor do?

A financial advisor helps people manage their investments, plan for retirement and save money for their financial goals. Financial advisors also suggest strategies, investments or other assets that will help their clients’ money grow.

Financial advisors come in many varieties, from in-person advisors to online financial services and robo-advisors. They all serve the same purpose: to help you figure out what to do with your money. Here’s more about what financial advisors do.

How do I know if I need a financial advisor?

If you find taking care of your finances and planning for the future to be overwhelming, a financial advisor can certainly help. If you feel confident investing your money, you may not need one.

While financial advisors aren’t for everyone, they can help you navigate the tricky and often confusing waters of how to organize your finances. If you recently had a big life change (you got married, had a child, lost a family member), it can be helpful to work with a financial advisor to help you understand your new financial landscape.

» Looking for a local advisor? Here's how to find a financial advisor near you.

How much money do you need to hire a financial advisor?

This really depends on what you’re willing to spend, and what products you’re looking for. There are a couple robo-advisors — digital investment management services — that charge no management fees. Others charge around 0.25% of your account balance.

Then, there are online financial advisors and traditional in-person financial advisors. Traditional financial advisors will often charge 1% of your assets or a flat fee — for example, you might pay $2,000 for a comprehensive plan. Online advisors like the ones on this list typically charge a bit less than that — Vanguard's fee is .35% and Betterment Premium charges .40% — or a flat annual or monthly fee.

We have a full overview of financial advisor fees here.

What is the difference between a financial planner and a financial advisor?

The difference between a financial advisor and a financial planner is like the adage about squares and rectangles: A financial planner is an advisor, but an advisor isn’t necessarily a planner.

Financial advisors are a larger category of individuals who help people manage their finances. A certified financial planner has gone through extensive training, taken an exam and is legally obligated to act in their client’s best interest. It is important when you are looking for a financial advisor to thoroughly vet them, no matter what they call themselves.

How do I know I can trust my financial advisor?

We suggest working with financial advisors who are fee-only fiduciaries. Fee-only advisors charge flat fees or a percentage of the assets they manage; they do not accept commissions for recommending specific investments. (Note: This is not the same as fee-based advisors, who may earn commissions on products they sell and charge clients a fee or percentage of assets.) A fiduciary is legally obligated to act in the client's best interest. Many financial advisors are also investment advisors, meaning they are registered with a regulating body such as their state or the SEC.

What should you look for in a financial advisor?

What you look for in a financial advisor will have to do with your needs and priorities. Online advisors are (for the most part) less expensive, but some people prefer to meet with a local advisor; a face they can come to know and trust.

It might also depend on what you want your advisor to do. For example, if you’re concerned with creating a specific type of portfolio or investing in alternative assets like cryptocurrency, you might prioritize finding an advisor who knows that strategy. But if staying within your budget comes first, and if you’re just starting to build an investment account, it often makes sense to go with a low-fee robo-advisor.

Learn more about how to choose a financial advisor.

Which is better, a robo-advisor or a financial advisor?

What sort of service you choose to take care of your money is a matter of your needs and comfort level.

Financial advisors have the advantage of being able to develop a relationship with you over time. They might know more about your family, your job and your life in general — thus giving them better insight into your financial needs. Unfortunately, they’re typically more expensive than a robo-advisor, but that cost premium may be worth it to you.

Robo-advisors are a great choice if you only want investment management.

» Robo-advisors vs. financial advisors

Is it worth having a financial advisor?

A financial advisor’s value depends on what they bring to your financial life. If you don’t have a lot of assets to manage, it might be better to try to manage them yourself or use a robo-advisor. As your assets grow and become more complicated — maybe you own a house, have an investment portfolio and are trying to pay off debt — it can be worthwhile to seek help from either a traditional or online advisor.

Recap

About the author

Alana Benson profile picture

Alana Benson

Alana Benson is an investing writer who joined NerdWallet in 2019. Since then, she has written extensively about socially responsible and ESG investing, financial advice and beginner investing topics. Previously, she wrote two books on identity theft and several young adult nonfiction titles. Her work has been featured in The New York Times, The Washington Post, MSN, Yahoo Finance, MarketWatch and others. Read moreEmail