6 Best Wealth Advisors of May 2022
Wealth advisors offer full-service financial advice and management, covering everything from estate planning to tax minimization.
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Why turn to wealth advisors?
Wealth advisors are a type of financial advisor who work with high-net-worth clients and offer holistic financial planning. This often includes services such as estate planning, tax minimization and legal guidance, in addition to investment management.
Because of the comprehensive guidance they provide, wealth advisors often require a minimum investment of several hundred thousand dollars or more. However, unlike in previous generations, many of the advisors below operate primarily online — in most cases, you'll meet with the advisor virtually, though some connect you to local options — and offer lower minimums.
Considering this, our list of the best wealth advisors includes: Zoe Financial, Harness Wealth, Facet Wealth, Personal Capital, Betterment and Charles Schwab. See below for more details about each.
And just a note: the title “wealth advisor,” like many other types of financial advisors, is just a label; an advisor who calls themself a wealth advisor requires no education or certification, so be sure to verify a financial advisor's credentials before signing on to work with them.
Why turn to wealth advisors?
Wealth advisors are a type of financial advisor who work with high-net-worth clients and offer holistic financial planning. This often includes services such as estate planning, tax minimization and legal guidance, in addition to investment management.
Because of the comprehensive guidance they provide, wealth advisors often require a minimum investment of several hundred thousand dollars or more. However, unlike in previous generations, many of the advisors below operate primarily online — in most cases, you'll meet with the advisor virtually, though some connect you to local options — and offer lower minimums.
Considering this, our list of the best wealth advisors includes: Zoe Financial, Harness Wealth, Facet Wealth, Personal Capital, Betterment and Charles Schwab. See below for more details about each.
And just a note: the title “wealth advisor,” like many other types of financial advisors, is just a label; an advisor who calls themself a wealth advisor requires no education or certification, so be sure to verify a financial advisor's credentials before signing on to work with them.
Best Wealth Advisors
Broker | NerdWallet Rating | Fees | Account minimum | Promotion | Learn More |
---|---|---|---|---|---|
![]() Facet Wealth Learn more on Facet Wealth's website | $1,800 and up per year (free initial consultation) | $0 | Get 2 free months off your first year of financial planning.* | Learn more on Facet Wealth's website | |
![]() Zoe Financial Learn more on Zoe Financial's website | Varies by advisor | $100,000 | None no promotion available at this time | Learn more on Zoe Financial's website | |
![]() Harness Wealth Learn more on Harness Wealth's website | Up to 1% per year | $250,000 | $250 off one year of financial or tax planning | Learn more on Harness Wealth's website | |
![]() Personal Capital Learn more on Personal Capital's website | 0.49%- management fee | $100,000 | 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 | |
![]() Betterment Premium Learn more on Betterment's website | 0.40% management fee | $100,000 | Up to 1 year of free management with a qualifying deposit | Learn more on Betterment's website | |
![]() Schwab Intelligent Portfolios Premium™ | $30 monthly | $25,000 | None no promotion available at this time | Read review |

on Facet Wealth's website
Facet Wealth

Fees
$1,800 and upper year (free initial consultation)
Account minimum
$0Promotion
Get 2 free monthsoff your first year of financial planning.*
on Facet Wealth's website

on Zoe Financial's website
Zoe Financial

Fees
Varies by advisorAccount minimum
$100,000Promotion
Noneno promotion available at this time
on Zoe Financial's website

on Harness Wealth's website
Harness Wealth

Fees
Up to 1%per year
Account minimum
$250,000Promotion
$250 offone year of financial or tax planning
on Harness Wealth's website

on Personal Capital's website
Personal Capital

Fees
0.49%-management fee
Account minimum
$100,000Promotion
Get 6 monthsof free wealth management for new clients. Must fund above $250,000 within 30 days of account opening. Terms Apply.
on Personal Capital's website

on Betterment's website
Betterment Premium

Fees
0.40%management fee
Account minimum
$100,000Promotion
Up to 1 yearof free management with a qualifying deposit
on Betterment's website
Want to compare more options? Here are our other top picks:
Last updated on February 1, 2022
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Methodology
NerdWallet’s comprehensive review process evaluates and ranks the largest U.S. brokers and robo-advisors by assets under management, along with emerging industry players, using a multifaceted and iterative approach. Our aim is to provide an independent assessment of providers to help arm you with information to make sound, informed judgments on which ones will best meet your needs.
DATA COLLECTION AND REVIEW PROCESS
We collect data directly from providers, and conduct firsthand testing and observation through provider demonstrations. Our process starts by sending detailed questionnaires to providers to complete. The questionnaires are structured to equally elicit both favorable and unfavorable responses from providers. They are not designed or prepared to produce any predetermined results. The questionnaire answers, combined with product 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.
RATING FACTORS
Evaluations vary by provider type, but in each case are based upon the weighted averages of factors that include but are not limited to: advisory and account fees, account minimums and types, investment selection, investment expense ratios, trading costs, access to human financial advisors, educational resources and tools, rebalancing and tax minimization options, and customer support including branch access, user-facing technology and mobile platforms.
Each factor can involve evaluating various sub-factors. For instance, when gauging the investment selections offered by robo-advisors, 80% of the score is based on the potential for diversification (how well-diversified a resulting portfolio of investments could be) combined with the availability of specialty portfolios and level of customization for investors. Expense ratios form an additional 10% of the score, and low or no management fee the remaining 10%.
FACTOR WEIGHTINGS
The weighting of each factor is based on our team’s assessment of which features are the most important to consumers and which ones impact the consumer experience in the most meaningful way. The factors considered, and how those factors are weighted, change depending upon the category of providers reviewed.
Provider categories include: Best Brokers for Stock Trading, Best Brokers for Beginners, Best Brokers for Day Trading, Best Brokers for Options Trading, Best Discount Brokers, Best Brokers for Free Trading, Best Investment Apps, Best Brokers for Penny Stocks, Best IRA Brokers, Best Robo-Advisors, Best Financial Advisors, Best Real Estate Platforms, Best Brokers for ETFs and Best Brokers for Mutual Funds.
INFORMATION UPDATES
Writers and editors conduct our broker and robo-advisor reviews on an annual basis but continually make updates throughout the year. We maintain frequent contact with providers and highlight any changes in offerings.
THE REVIEW TEAM
The review team comprises seasoned writers, researchers and editors who cover stocks, bonds, mutual funds, index funds, exchange-traded funds, alternative investments, socially responsible investing, financial advisors, retirement and investment strategy on a daily basis. In addition to NerdWallet, the work of our team members has been published in The New York Times, The Washington Post, Forbes, USA Today, Bloomberg News, Nasdaq, MSN, MarketWatch, Yahoo! Finance and other national and regional media outlets.
The combined expertise of our Investing team is infused into our review process to ensure thoughtful evaluations of provider products and services from the customer perspective. Our writers and editors combine to have more than 70 years of deep experience in finance, ranging from a former Wall Street Journal reporter to a former senior financial advisor at Merrill Lynch.
CONFLICTS OF INTEREST
While NerdWallet does have partnerships with many of the reviewed providers, we manage potential conflicts of interest by maintaining a wall between our content and business operations. This wall is designed to prevent our writers and the review process from being influenced or impacted by our business partnerships. This way, all reviews can provide an unbiased review that serves the interests of our users. For more information, see NerdWallet’s editorial guidelines.
To recap our selections...