10 Best Financial Advisors of May 2024
The best financial advisors offer financial planning and investment management for a low fee. Some of the services below can match you with a local advisor, while others operate entirely online.
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Searching for a financial advisor used to depend on word-of-mouth recommendations — or search engines — to find a local advisor in your city or town. But these days, there are easier alternatives to finding an advisor: New advisory firms have cropped up over the last few years that will match you with a financial advisor online, based on your individual needs and financial situation.
Some of these companies have their own in-house financial advisors. Others operate a network of participating advisors all over the country. Either way, online financial advisor services are a fast, easy way to find the right financial advisor for you. Often, you'll be matched with a few different advisors, and you can have an introductory meeting with each advisor to find the best fit. The best part? 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 are a few options that are lower-cost alternatives: 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 advisors.
We've categorized our list below into services that match you with a dedicated financial advisor for more comprehensive advice, and lower-cost services that offer a team of advisors.
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.
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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
Below are our picks for the best financial advisors.
Searching for a financial advisor used to depend on word-of-mouth recommendations — or search engines — to find a local advisor in your city or town. But these days, there are easier alternatives to finding an advisor: New advisory firms have cropped up over the last few years that will match you with a financial advisor online, based on your individual needs and financial situation.
Some of these companies have their own in-house financial advisors. Others operate a network of participating advisors all over the country. Either way, online financial advisor services are a fast, easy way to find the right financial advisor for you. Often, you'll be matched with a few different advisors, and you can have an introductory meeting with each advisor to find the best fit. The best part? 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 are a few options that are lower-cost alternatives: 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 advisors.
We've categorized our list below into services that match you with a dedicated financial advisor for more comprehensive advice, and lower-cost services that offer a team of advisors.
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.
Get a custom financial plan and unlimited access to a Certified Financial Planner™
NerdWallet Advisory LLC
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
Below are our picks for the best financial advisors.
The most common financial advisor fee is 1% of your assets under management (the amount of money the advisor will manage on your behalf). Some financial advisors charge a flat fee to create a financial plan for you instead. Some of the advisors below charge less because they operate online, which keeps their own costs down.
Best Financial Advisors
| Broker | NerdWallet rating | Fees | Account minimum | Promotion | Learn more |
|---|---|---|---|---|---|
 Zoe Financial Learn more on Zoe Financial's website AD Paid non-client promotion | Reviewed in: Oct. 2023 Period considered: Aug. - Oct. 2023 | Varies by Advisor (free initial consultation) | $150,000 | 3- | Learn more on Zoe Financial's website AD Paid non-client promotion |
 Vanguard Personal Advisor Learn more on Vanguard's website AD Paid non-client promotion | Reviewed in: Oct. 2023 Period considered: Aug. - Oct. 2023 | 0.35% management fee | $50,000 | None no promotion available at this time | Learn more on Vanguard's website AD Paid non-client promotion |
 Betterment Premium Learn more on Betterment's website AD Paid non-client promotion | Reviewed in: Oct. 2023 Period considered: Aug. - Oct. 2023 | 0.40% management fee | $100,000 | None no promotion available at this time | Learn more on Betterment's website AD Paid non-client promotion |
 Facet Learn more on Facet's website AD Paid non-client promotion | Reviewed in: Oct. 2023 Period considered: Aug. - Oct. 2023 | $2,000 and up per year (free initial consultation) | $0 | Get $300 reward into Facet brokerage account for new members who transfer at least $5,000 within the first 90 days of their Facet membership.* | Learn more on Facet's website AD Paid non-client promotion |
 Harness Wealth Learn more on Harness Wealth's website AD Paid non-client promotion | Reviewed in: Oct. 2023 Period considered: Aug. - Oct. 2023 | Up to 1% per year | $250,000 | $250 off one year of financial or tax planning | Learn more on Harness Wealth's website AD Paid non-client promotion |
Our pick 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.
5.0
/5Reviewed in: Oct. 2023
Period considered: Aug. - Oct. 2023
on Zoe Financial's website
AD
Paid non-client promotion
Varies by Advisor (free initial consultation)
$150,000
3-Month Satisfaction Guarantee
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.
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.
5.0
/5Reviewed in: Oct. 2023
Period considered: Aug. - Oct. 2023
on Facet's website
AD
Paid non-client promotion
$2,000 and up
per year (free initial consultation)
$0
Get $300 reward
into Facet brokerage account for new members who transfer at least $5,000 within the first 90 days of their Facet membership.*
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.
Cons
Wide fee range makes it difficult for potential customers to estimate costs.
No in-person meeting option.
Why We Like It
Facet's financial planning services start at $2,000 per year and include customized financial guidance and investment management from a dedicated CFP.
5.0
/5Reviewed in: Oct. 2023
Period considered: Aug. - Oct. 2023
on Harness Wealth's website
AD
Paid non-client promotion
Up to 1%
per year
$250,000
$250 off
one year of financial or tax planning
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.)
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.
Our pick for
Access to a team of financial advisors
These services offer unlimited access to a team of financial advisors — which means you may work with a different financial advisor each time. That generally comes at a lower cost, but you'll still be able to speak to an advisor and receive guidance as needed. Some of these advisors, including Vanguard and Empower, offer a dedicated advisor for clients who meet minimum investment requirements.
4.3
/5Reviewed in: Oct. 2023
Period considered: Aug. - Oct. 2023
on Vanguard's website
AD
Paid non-client promotion
0.35%
management fee
$50,000
None
no promotion available at this time
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
Must move outside assets over to Vanguard.
Why We Like It
Vanguard Personal Advisor 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.
4.1
/5Reviewed in: Oct. 2023
Period considered: Aug. - Oct. 2023
on Betterment's website
AD
Paid non-client promotion
0.40%
management fee
$100,000
None
no promotion available at this time
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.
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.
3.7
/5Reviewed in: Oct. 2023
Period considered: Aug. - Oct. 2023
on Empower's website
AD
Paid non-client promotion
0.49%-0.89%
management fee
$100,000
None
no promotion available at this time
Pros
Individual securities available.
Free, comprehensive investment management tools.
Dedicated financial advisors.
Advanced tax optimization strategy.
Cons
$100,000 account minimum.
High management fee.
Why We Like It
Empower 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.
Want to compare more options? Here are our other top picks:
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.
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.
What should I look for to find the best advisor for me?
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 for me, 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.
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.
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.
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NerdWallet Advisory LLC
Last updated on May 2, 2024
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).
For more details about the categories considered when rating financial advisors and our process, read our full methodology.
To recap our selections...
NerdWallet's Best Financial Advisors of May 2024
- Zoe Financial: Best for 1-to-1 relationship with a financial advisor
- Vanguard Personal Advisor: Best for Access to a team of financial advisors
- Betterment Premium: Best for Access to a team of financial advisors
- Facet: Best for 1-to-1 relationship with a financial advisor
- Harness Wealth: Best for 1-to-1 relationship with a financial advisor
- Empower: Best for Access to a team of financial advisors
- Wealthramp: Best for 1-to-1 relationship with a financial advisor
- Ellevest Private Wealth Management: Best for 1-to-1 relationship with a financial advisor
- Schwab Intelligent Portfolios Premium™: Best for Access to a team of financial advisors
- Merrill Guided Investing with advisor: Best for 1-to-1 relationship with a financial advisor
