BEST OF

6 Best Wealth Advisors of August 2022

Wealth advisors offer full-service financial advice and management, covering everything from estate planning to tax minimization.

Aug 1, 2022

Many or all of the products featured here are from our partners who compensate us. This may influence which products we write about and where and how the product appears on a page. 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 does not offer advisory or brokerage services, nor does it recommend or advise investors to buy or sell particular stocks, securities or other investments.

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

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
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
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
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
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

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

Last updated on August 1, 2022

You may also like these

People often identify opening a savings account as their next money move.

Varo Savings Account

5.0

NerdWallet rating 
Varo Savings Account

APY

5.00%

With $1.25 min. balance for APY

at Varo Bank, Member FDIC

Capital One 360 Performance Savings™

4.5

NerdWallet rating 
Capital One 360 Performance Savings™

APY

1.50%

With $0 min. balance for APY

at Capital One, Member FDIC

Discover Bank Online Savings

5.0

NerdWallet rating 
Discover Bank Online Savings

APY

1.50%

With $0 min. balance for APY

Bonus

$200

Requirements to qualify

at Discover Bank, Member FDIC

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 financial advisors and our process, read our full methodology.