Greenspring Advisors, LLC, formerly known as Greenspring Wealth Management, Inc., is a fee-only financial advisor firm located in Towson, Maryland. It advisory team oversees billions in assets under management. The majority of the money the firm manages is attributable to pension and profit-sharing plans, although most of the firm’s clients are individuals and high-net-worth individuals.
Greenspring offers wealth management services, which encompass tax considerations, estate planning and other areas of financial importance. It has been recognized by numerous publications over the last five years, earning top rankings from Financial Advisor Magazine, Financial Times, Forbes, PLANADVISER and InvestmentNews.
Greenspring Advisors Background
Greenspring Wealth Management, Inc. was established in 2004 but rebranded it as Greenspring Advisors, LLC in 2018. Co-founder Joshua Itzoe worked at Morgan Stanley prior to founding the firm, while J. Patrick Collins, Jr. was previously employed by Merrill Lynch. Collins Jr. currently serves as a partner, managing director and chief compliance officer.
The advisory team at Greenspring boasts a variety of certifications. The team has certified financial planners (CFP), accredited investment fiduciaries (AIF), enrolled agents (EA), chartered retirement plans specialists (CRPS) certified divorce financial analysts (CDFA), chartered financial consultants (ChFC), chartered life underwriter (CLU), chartered financial analyst (CFA) and a chartered advisor for senior living (CASL) on staff.
Greenspring Advisors Client Types and Minimum Account Sizes
Greenspring Advisors, LLC works with a wide variety of clients in different capacities. Over three-quarters of its client base is made up of individuals and high-net-worth individuals. However, it also works with a substantial number of pension and profit-sharing plans. The firm also serves trusts, estates, non-profits, charitable organizations, corporations and other businesses.
Greenspring Advisors’ accounts have various minimum fees required, depending on the service.
For financial planning services, Greenspring Advisors requires a minimum annual fee typically spanning from $2,000 to $15,000.
Services Offered By Greenspring Advisors
The services available to clients at Greenspring Advisors, LLC are essentially divided into three areas: wealth management; foundations, endowments and non-profits; and corporate retirement plans. Within these groups, you’ll find the following offerings:
- Wealth management
- Financial planning
- Estate planning
- Tax management and minimization
- Discretionary portfolio management
- Comprehensive performance reporting
- Foundations, endowments and non-profits
- Investment oversight
- Portfolio construction
- Committee support
- Fee analysis
- Goal setting
- Policy development
- Comprehensive performance reporting
- Corporate retirement plans
- For your company:
- Strategic plan management
- Investment planning and monitoring
- Vendor management
- Fee analysis
- Plan design consulting
- For your employees:
- Advice from a certified financial planner
- Risk analysis
- Retirement analysis
- Monthly communication
- Check-ins every quarter
- Pre-retirement financial planning
- For your company:
Greenspring Advisors Investment Philosophy
Greenspring Advisors doesn’t necessarily adhere to any particular investment strategy. The firm, for instance, uses both short-term and long-term securities purchases. Most firms stick exclusively to a long-term ideology, as it usually entails safer investments with the opportunity for reliable growth. However, Greenspring uses short-term purchases in an effort to meet clients’ more immediate liquidity needs.
The advisors at this firm will adjust the types of investments included in clients’ portfolios depending on their specific needs and financial goals. While traditional securities make up a sizable portion of clients’ portfolios, the firm will also use fixed income, cash, exchange-traded funds (ETFs) and mutual funds.
Fees Under Greenspring Advisors
Like many financial advisor firms, Greenspring Advisors, LLC has a graduated fee schedule based on a percentage of assets under management. The higher your account’s balance, the lower your fee rate. These costs are billed to your account on a quarterly basis in advance. The firm charges clients for its investment management services based on the following fee schedule:
| Asset Level | Annual Fee |
| First $300,000 | 1.25% |
| $300,001 - $1,000,000 | 1.00% |
| $1,000,001 - $3,000,000 | 0.75% |
| $3,000,001 and above | 0.50% |
The below table offers a sense of how Greenspring Advisors’ fees compare based on asset amount.
| Estimated Fee Comparison* | |
| Your Assets | Greenspring Advisors Maximum Fee Amount |
| $500K | $5,750 |
| $1MM | $10,750 |
| $5MM | $35,750 |
| $10MM | $60,750 |
| *Estimated investment management fees do not include brokerage, custodial, third-party manager or other fees, which can vary in amount. | |
Learn more about advisors' typical costs here.
What to Watch Out For
Greenspring Advisors, LLC employs a relatively small number of advisors managing many client accounts. That means that each financial advisor at the firm is expected to oversee multiple accounts. For investors who want a more personalized feel, this could be a turn-off.
Aside from this though, there isn’t much else to look out for at Greenspring. The firm is fee-only, which means it solely earns money from advisory fees, and it does not have any outside relationships or affiliations that could create potential conflicts of interest.
Greenspring Advisors, LLC has a clean record with no disclosures or other legal issues to report.
Opening an Account With Greenspring Advisors
The easiest and fastest way to open an account with Greenspring is to either visit one of its physical locations in Towson, Maryland or Woodcliff Lake, New Jersey or call the firm at (443) 564-4600. If you’d prefer that an advisor get in touch with you, you can fill out a short form on Greenspring’s website. You’ll be asked to provide your first and last name, phone number, email address and a description of your needs.
All information is accurate as of the writing of this article.
Tips to Save for Retirement
- Finding a financial advisor doesn’t have to be hard. SmartAsset’s free tool matches you with up to three vetted financial advisors who serve your area, and you can have a free introductory call with your advisor matches to decide which one you feel is right for you. If you’re ready to find an advisor who can help you achieve your financial goals, get started now.
- Check with your company to see what kind of 401(k) or other retirement programs they offer. This can be a great way to start saving for your future retirement, although you’ll probably want supplement it with your own investments.
