BEST OF

Best Financial Advisors of May 2022

Mar 2, 2022

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When searching for the best financial advisors, you’ll find options that range from automated investment management services called robo-advisors to traditional, in-person financial advisors. In the middle are online financial advisors and financial planning services: These companies offer many of the services of a traditional financial advisor, but operate online to reduce fees.

Here's how to find an advisor who works for your situation:

1. Keep your budget in mind. 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. Decide 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 an online planning service or traditional human financial advisor for advanced planning. (View our picks for the best robo-advisors.)

3. Choose 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.

» I need more information. Learn how to choose between financial advisors

If you're still not sure how to find the right financial advisor for you, it often makes sense to start with a robo-advisor or online planning service — you can always hire a traditional financial advisor if your situation grows more complex. Below are our picks for the best online financial advisors.

Best Financial Advisors

Facet Wealth
Learn more

on Facet Wealth's website

Facet Wealth

5.0

NerdWallet rating 
Facet Wealth

Fees

$1,800 and up

per year (free initial consultation)

Account minimum

$0

Promotion

Get 2 free months

off your first year of financial planning.*

Learn more

on Facet Wealth's website


Promotion

Get 2 free months

off your first year of financial planning.*

Why we like it

Facet's financial planning services start at $1,800 per year and include customized financial guidance and investment management from a dedicated CFP.

Pros

  • Free initial consultation.

  • Comprehensive, full-service financial planning.

  • Meetings are held virtually, via phone or video call.

  • No additional fee for investment management.

  • Fee-only advice from a designated fiduciary CFP.

  • No upfront setup fee.

Cons

  • Wide fee range makes it difficult for potential customers to estimate costs.

  • No in-person meeting option.

Read Full Review
Vanguard Personal Advisor Services
Learn more

on Vanguard's website

Vanguard Personal Advisor Services

5.0

NerdWallet rating 
Vanguard Personal Advisor Services

Fees

0.30%

management fee

Account minimum

$50,000

Promotion

None

no promotion available at this time

Learn more

on Vanguard's website


Promotion

None

no promotion available at this time

Why we like it

Vanguard Personal Advisor Services is an excellent choice for investors who can meet the $50,000 account minimum and want to use the computer algorithms of a robo-advisor while maintaining access to a human touch.

Pros

  • Low advisor fee and lower account minimum for an online planning service.

  • Comprehensive advice with goals-based planning.

  • Unlimited access to financial advisors.

  • Solid investment selection with Vanguard’s suite of funds.

Cons

  • No tax-loss harvesting.

  • Must move outside assets over to Vanguard.

Read Full Review
Zoe Financial
Learn more

on Zoe Financial's website

Zoe Financial

5.0

NerdWallet rating 
Zoe Financial

Fees

Varies by advisor

Account minimum

$100,000

Promotion

None

no promotion available at this time

Learn more

on Zoe Financial's website


Promotion

None

no promotion available at this time

Why we like it

Zoe Financial isn't actually a financial advisory firm — the company connects clients to financial advisors. Zoe advisors are all independent fiduciaries who work on a commission-free model, meaning your advisor won’t try to sell you products to make a profit.

Pros

  • Makes it easy to find a financial advisor.

  • Network of financial advisors offer a wide range of planning services.

  • No fee for using Zoe Financial to find an advisor.

Cons

  • Difficult to know financial advisor fees upfront.

Read Full Review
Betterment Premium
Learn more

on Betterment's website

Betterment Premium

4.0

NerdWallet rating 
Betterment Premium

Fees

0.40%

management fee

Account minimum

$100,000

Promotion

Up to 1 year

of free management with a qualifying deposit

Learn more

on Betterment's website


Promotion

Up to 1 year

of free management with a qualifying deposit

Why we like it

Betterment Premium offers clients with at least $100,000 to invest unlimited access to financial advisors. The service charges a reasonable 0.40% of assets under management, and the advisors are all certified financial planners, a credential that requires meeting a high bar for education and experience.

Pros

  • Unlimited access to a team of certified financial planners.

  • Low management fee.

  • Innovative savings and retirement planning tools.

Cons

  • Clients don't receive a dedicated advisor.

  • Advisors available by phone and email only.

  • High account minimum.

Read Full Review
Personal Capital
Learn more

on Personal Capital's website

Personal Capital

4.5

NerdWallet rating 
Personal Capital

Fees

0.49%-0.89%

management fee

Account minimum

$100,000

Promotion

Get 6 months

of free wealth management for new clients. Must fund above $250,000 within 30 days of account opening. Terms Apply.

Learn more

on Personal Capital's website


Promotion

Get 6 months

of free wealth management for new clients. Must fund above $250,000 within 30 days of account opening. Terms Apply.

Why we like it

Personal Capital is part robo-advisor, part human advisor: The hybrid service uses robo algorithms, but pairs investors with a dedicated financial advisor. The high-touch approach comes with a higher balance requirement and management fee.

Pros

  • Individual securities available.

  • Free, comprehensive investment management tools.

  • Dedicated financial advisors.

  • Advanced tax optimization strategy.

Cons

  • $100,000 account minimum.

  • High management fee.

Read Full Review
Harness Wealth
Learn more

on Harness Wealth's website

Harness Wealth

5.0

NerdWallet rating 
Harness Wealth

Fees

Up to 1%

per year

Account minimum

$250,000

Promotion

$250 off

one year of financial or tax planning

Learn more

on Harness Wealth's website


Promotion

$250 off

one year of financial or tax planning

Why we like it

Harness Wealth isn't itself a financial advisory firm — the company serves to connect clients to carefully vetted firms. Advisors on the platform typically charge a 1% management fee, but flat-fee financial planning services and tax help are also available.

Pros

  • Reduces uncertainty when selecting a financial advisor.

  • Access to a range of services, including investment management and financial, tax and estate planning.

  • Easy to get started.

  • Advisors offer complimentary consultations.

  • No fee for using Harness Wealth to find an advisor.

Cons

  • The firms Harness works with may have higher fees.

  • Firms require $250,000 asset minimum for investment management. (No minimum for a one-time financial plan.)

Read Full Review

Wealthramp

5.0

NerdWallet rating 
Wealthramp

Fees

$0

Account minimum

$0

Promotion

N/A

Promotion

N/A

Pros

  • Makes it easy to find a financial advisor.

  • Network of financial advisors offers a wide range of planning services.

  • No fee to find an advisor.

Cons

  • Difficult to know financial advisor fees upfront.

Read Full Review

Want to compare more options? Here are our other top picks:

Disclosure: The author held no positions in the aforementioned securities at the time of publication.

Last updated on March 2, 2022

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NerdWallet rating 
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Methodology

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). Ratings are rounded to the nearest half-star.

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

Frequently asked questions