Top Financial Advisors in Annapolis, MD

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At the top of the list, Scarborough Capital Management more than $769 million in assets. Its advisors are all also brokers and licensed insurance agents. This means they earn commissions, which is a potential conflict of interest -- though they must act in the best interest of the client. The team includes eight chartered retirement planning consultants (CRPCs), seven certified financial planners (CFPs), one chartered mutual fund counselor (CMFC), one certified college planning specialist (CCPS), one retirement income certified professional (RICP), one accredited investment fiduciary (AIF) and one chartered federal employees benefits consultant (ChFEBC). (Advisors may have more than one certification.)  

The firm does not seem to require a minimum balance to open an investment account. It follows that the vast majority of its client base is mostly individuals who do not have a high net worth. The firm also works with corporations or other business entities.

Scarborough Capital Management Background

Scarborough Capital began in 1989 as The Scarborough Group, Inc. It changed its name in 2008, and five years later, five advisors -  Ryan Ansted, Ian Arrowsmith, Gregory Ostrowski, James Sprinkel and Shawn Walker - bought the firm. They’re all still co-equal partners and working at Scarborough Capital as advisors.

The practice offers discretionary investment management services, financial planning,  consulting services and educational seminars. It also provides 401(k) and 403(b) plan management as a sub-advisor to Retirement Management Systems Inc.

Scarborough Capital Management Investing Strategy

The firm seeks to optimize portfolios for return and risk by using the principles of asset allocation and diversification. In designing client portfolios, advisors utilize model portfolios provided by an independent third-party research company. The models, which range from conservative to aggressive, are guidelines, and advisors may deviate from them - or not use them. 

Investments could include mutual funds, stocks and cash holdings.

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Though a third of the size of No.1 on this list, Bay Point Wealth Management comes in second. The firm has headquarters in Annapolis and a branch in Sarasota, Florida. The team has five certified financial planners (CFPs), three certified public accountants (CPAs) and one chartered financial analyst (CFA).

The fee-only firm mostly works with high-net-worth individuals. It also offers its services to pension and profit-sharing plans, trusts, estates, charitable organizations, corporations and other business entities. It doesn’t publish a minimum account size requirement.

Bay Point Wealth Management Background

William Hufnell founded the firm in 1995. He is the principal owner while another William Huffnell and Chief Operating Officer Kimberly Anderson have small stakes. A third Huffnell also works at the practice.

Bay Point Wealth provides asset management on a discretionary basis. It also offers financial planning and advice not related to securities, such as estate planning.

Bay Point Wealth Management Investing Strategy

The firm generally allocates client assets to no-load mutual funds and exchange-traded funds (ETFs), typically using discount brokers. It also invests in individual equities and individual bonds. When evaluating securities, it will apply charting, fundamental, technical and cyclical methods of analysis. It notes that it does not participate in initial public offerings (IPOs).

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The team at fee-only 1 North Wealth Services, LLC (1NWS) includes two certified financial planners (CFPs) and one chartered advisor in philanthropy (CAP).

Most individual clients do not have a high net worth. 1NWS also serves corporations, retirement plans, estates, trusts and charitable foundations. It sets the minimum for investment accounts at $500,000, though it may waive the requirement at its discretion.

1 North Wealth Services Background

The firm first registered in Maryland in 1992. Information is not available about its founder. The current owner, CEO James Brennan, bought the firm in 2018. He is the sole owner.

The primary business of 1NWS is providing investment advice and discretionary asset management services. It also offers financial planning on an hourly or fixed-fee basis.

1 North Wealth Services Investing Strategy

Depending on the client’s profile and goals, 1NWS generally applies a blend of these strategies:

• Capital Preservation Strategy - seeks to preserve capital while earning a higher return than cash
• Total Return Strategy - invests in fixed income instruments such as corporate bonds, mortgage-backed bonds, municipal bonds and mutual funds and exchange-traded funds (ETFs) holding these types of investments - plus, possibly, high dividend-paying stocks, preferred stock, and shares of master limited partnerships (MLPs)
• Growth Strategy - invests where most of the return is expected to come from market appreciation, such as in individual stocks and stock or bond mutual funds and ETFs
• Alternative Strategy - may invest in mutual funds and ETFs holding long/short equity or bond positions, precious metals, commodities and real estate 

In choosing securities, 1NWS primarily uses fundamental analysis and to a lesser extent, technical analysis. 

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Also a fee-only firm, The Ellerson Group Inc doesn't have any advisors who list financial certifications.

Though The Ellerson Group offers its services to pension and profit-sharing plans and nonprofit organizations, it currently works only with individuals, with a nearly even split between high-net-worth and non-high-net-worth. If the firm has an investment account minimum, it does not publish it. It does, however, note that its services tend to be most helpful to clients with at least $1,000,000.

The Ellerson Group Background

James Ellerson founded the firm in 1995, after working for 13 years at another firm as an investment advisory representative. He is the sole owner.

According to the one-page brochure the firm filed with the SEC, The Ellerson Group offers investment management services. It also offers financial planning and consulting.

The Ellerson Group Investing Portfolio Strategy

Again, the firm filed a one-page brochure with the SEC, so not a lot of information is publicly available about its investing strategies. It seems to have a conservative focus, though. At least that is how it describes its equity strategy on its website. The practice also states there that it invests its fixed income portfolios primarily in individual bonds, certificates of deposit, income stocks and income mutual funds.

According to SEC data, assets under The Ellerson Group’s management were allocated as:

• 41% Exchange-traded stocks
• 40% Securities issued by registered investment companies (like mutual funds) or business development companies
• 18% Cash or cash equivalents
• 1% Investment-grade corporate bonds

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ValueWealth, LLC is a fee-based firm that works with individuals, most of whom are not high-net-worth. There are no institutional clients at the firm.

Some advisors at the firm earn commissions for selling securities, which is a potential conflict of interest. That said, advisors must act in the best interest of the client. Fees for investments supervisory services are based on a percentage of assets under management, while financial planning fees are charged either hourly or at a flat rate.

The team at ValueWealth includes one certified financial planner (CFP). There is no minimum account size.

ValueWealth Background

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RCS Financial Planning, LLC is a fee-only firm with a team that includes two certified financial planners (CFPs) and chartered financial analyst (CFA).

With no minimum requirement to open an investment account, the firm serves far more individuals who do not have a high net worth than those who do. It also works with pension and profit-sharing plans.

RCS Financial Planning Background

RCS Financial was formed in 2017 and received its SEC registration the following year. It is soley owned by President Ted Toal.

The boutique practice provides discretionary portfolio management services. It also offers financial planning, selection of other advisors and pension consulting services. 

RCS Financial Planning Investment Strategy

The firm centers its strategy on Modern Portfolio Theory. It generally uses long-term trading. According to the most recent SEC data, assets under RCS Financial’s management were mostly allocated to securities issues by registered investment companies (such as mutual funds) or business development companies. Stocks and cash holdings were also used.

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Financial Concepts Unlimited, Inc. is a fee-based firm. Its advisors are also brokers and insurance agents, meaning they earn commissions. This is a potential conflict of interest, but advisors must act in the best interest of the client.

The minimum to open an investment account is $30,000 - and the firm states it may lower the amount at its discretion. Not surprisingly then, individual clients who do not have a high net worth outnumber those who do. Financial Concepts doesn’t mention working with any clients besides individuals.

Financial Concepts Unlimited Background

The firm was first registered with a state authority in 1990. In 2011, current CEO John Taylor became its sole owner.

Financial Concepts categorizes its services as a mutual fund asset allocation program, variable annuity sub-account management and financial planning. On its website, it further specifies its financial planning to include estate and business planning and executive benefits and tax planning.

Financial Concepts Unlimited Investing Strategy 

Based on the client’s profile and objectives, Financial Concepts will recommend at least one of seven proprietary model portfolios. These models consist of advisor-class shares of mutual funds, stocks, bonds, options and other security instruments. The firm may also modify models and it may utilize unaffiliated third parties as sub-advisors. 

As of its latest filings with the SEC, assets under Financial Concepts’ management were primarily invested in securities issued by registered investment companies (like mutual funds) or business development companies. Stocks were also used as an investment.

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Chesapeake Financial Planning is a fee-based firm with a team of advisors including one certified financial planner (CFP). The firm works with only individuals, most of whom do not have high net worths.

Fees are generally based on a percentage of assets under management. Some advisors earn commissions as brokers. This is a potential conflict of interest, but advisors must act in the best interest of the client.

The minimum account size is either $50,000 or $100,000, depending on which program you are enrolled in.

Chesapeake Financial Planning Background

Chesapeake was founded in 1990. Elizabeth Bennett is the sole owner. The firm was registered in Maryland until 2019, when it registered with the SEC.

Services offered at Chesapeake include asset management, financial planning, financial consulting and educational seminars.

Chesapeake Financial Planning Investment Strategy

Fundamental and technical analyses are at the heart of the investment strategy at Chesapeake. According to the latest SEC filing, 100% of client money is invested in securities issued by registered investment companies such as mutual funds or business development companies.