Best of
9 Best Financial Advisors of December 2019
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on Ellevest's website
Ellevest Premium

Fees
management fee
Account Minimum
Promotion
cash bonus with qualifying deposit
on Ellevest's website
on Facet Wealth's website
Facet Wealth

Fees
per year
Account Minimum
Promotion
No promotion available at this time
on Facet Wealth's website
on Betterment's website
Betterment Premium

Fees
management fee
Account Minimum
Promotion
of free management with a qualifying deposit
on Betterment's website
on Personal Capital's website
Personal Capital

Fees
management fee
Account Minimum
Promotion
of financial advisory services for NerdWallet users
on Personal Capital's website
on Wealthfront's website
Wealthfront

Fees
management fee
Account Minimum
Promotion
amount of assets managed for free
on Wealthfront's website
on SoFi Wealth's website
SoFi Automated Investing

Fees
management fee
Account Minimum
Promotion
career counseling plus loan discounts with qualifying deposit
on SoFi Wealth's website
Want to compare more options? Here are our other top picks:
Summary of Best Financial Advisors of December 2019
Broker | Commissions | Promotion | Account Minimum | Learn More |
---|---|---|---|---|
Ellevest Premium on Ellevest's website | 0.50% management fee | Up to $750 cash bonus with qualifying deposit | $50,000 | on Ellevest's website |
Facet Wealth on Facet Wealth's website | $480 and up per year | None No promotion available at this time | $0 | on Facet Wealth's website |
Betterment Premium on Betterment's website | 0.40% management fee | Up to 1 year of free management with a qualifying deposit | $100,000 | on Betterment's website |
Personal Capital on Personal Capital's website | 0.49% - 0.89% management fee | 2 Free Months of financial advisory services for NerdWallet users | $100,000 | on Personal Capital's website |
Wealthfront on Wealthfront's website | 0.25% management fee | $5,000 amount of assets managed for free | $500 | on Wealthfront's website |
SoFi Automated Investing on SoFi Wealth's website | 0% management fee | Free career counseling plus loan discounts with qualifying deposit | $0 | on SoFi Wealth's website |
![]() Rebalance 360 | 0.25% - 0.70% management fee | None no promotion at this time | $100,000 | Read review |
![]() Vanguard Personal Advisor Services | 0.30% management fee | None no promotion currently offered | $50,000 | Read review |
![]() Schwab Intelligent Portfolios Premium™ | $30 monthly | None no promotion available at this time | $25,000 | Read review |
Broker | Commissions | Promotion | Account Minimum | Learn More |
---|---|---|---|---|
Ellevest Premium on Ellevest's website | 0.50% management fee | Up to $750 cash bonus with qualifying deposit | $50,000 | on Ellevest's website |
Facet Wealth on Facet Wealth's website | $480 and up per year | None No promotion available at this time | $0 | on Facet Wealth's website |
Betterment Premium on Betterment's website | 0.40% management fee | Up to 1 year of free management with a qualifying deposit | $100,000 | on Betterment's website |
Personal Capital on Personal Capital's website | 0.49% - 0.89% management fee | 2 Free Months of financial advisory services for NerdWallet users | $100,000 | on Personal Capital's website |
Wealthfront on Wealthfront's website | 0.25% management fee | $5,000 amount of assets managed for free | $500 | on Wealthfront's website |
SoFi Automated Investing on SoFi Wealth's website | 0% management fee | Free career counseling plus loan discounts with qualifying deposit | $0 | on SoFi Wealth's website |
![]() Rebalance 360 | 0.25% - 0.70% management fee | None no promotion at this time | $100,000 | Read review |
![]() Vanguard Personal Advisor Services | 0.30% management fee | None no promotion currently offered | $50,000 | Read review |
![]() Schwab Intelligent Portfolios Premium™ | $30 monthly | None no promotion available at this time | $25,000 | Read review |
Last updated on December 9, 2019
Methodology
To recap our selections...
NerdWallet's Best Financial Advisors of December 2019
Frequently asked questions
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.
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.
This really depends on what you’re willing to spend, and what products you’re looking for. There are a few robo-advisors — digital investment management services — that charge no management fees. Others charge around 0.25% of your account balance.
Then, there are online planning services and traditional in-person financial advisors. Online planning services typically charge a management fee that starts at around 0.30%, or a flat annual or monthly fee. 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.
We have a full overview of financial advisor fees here.
Where you look for 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 an actual human, a face they can come to know and trust.
It might also depend on what you want your advisor to do. If you’re concerned with creating a socially responsible portfolio, certain advising platforms like Ellevest or Wealthsimple do a better job with that than others. 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 find 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. Certified financial planners have gone through extensive training, taken exams and are 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.
What sort of service you choose to take care of your money is a matter of your needs and comfort level.
In-person 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 or online planning service.
Robo-advisors are a great choice if you only want investment management. If you need more comprehensive financial planning, many online planning services offer dedicated advisors who can give you customized help with a lower price tag than in-person advisors. Many employ CFPs, and you’ll meet with the advisor virtually via phone or video.
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.