Finding a Top Financial Advisor Firm in Asheville, North Carolina
Choosing a financial advisor is not only one of the most important decisions you’ll ever make. It’s also one of the hardest. After all, there’s plenty to consider. To help you, we collected a number of factors you should consider - fundamentals such as assets under management (AUM), fee basis and investment strategy. Then we put all the info together here for convenient comparing and contrasting. Start your search with this list of the top financial advisor firms in Asheville, North Carolina. Then use SmartAsset’s free financial advisor matching tool to assist your search.
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|Rank||Financial Advisor||Assets Managed||Minimum Assets||Financial Services||More Information|
|1||Parsec Financial Find an Advisor||$4,226,304,258||No set account minimum|| || |
Minimum AssetsNo set account minimum
|2||Dixon Hughes Goodman Wealth Advisors, LLC Find an Advisor||$2,206,001,630||$5,000 minimum annual fee|| || |
Minimum Assets$5,000 minimum annual fee
|3||ACT Advisors Find an Advisor||$316,365,417||Varies based on account type|| || |
Minimum AssetsVaries based on account type
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|4||Colton Groome Financial Advisors, LLC Find an Advisor||$188,894,429||No set minimum|| || |
Minimum AssetsNo set minimum
|5||Earth Equity Advisors, LLC Find an Advisor||$178,491,035||No minimum|| |
Minimum AssetsNo minimum
|6||Horizons Wealth Management Find an Advisor||$122,530,878||No set account minimum|| || |
Minimum AssetsNo set account minimum
|7||Altamont Capital Management Find an Advisor||$195,977,836||$150,000|| || |
What We Use in Our Methodology
To find the top financial advisors in Asheville, we first identified all firms registered with the SEC in the city. Next, we filtered out firms that don't offer financial planning services, those that don't serve primarily individual clients and those that have disclosures on their record. The qualifying firms were then ranked according to the following criteria:
- AUMFirms with more total assets under management are ranked higher.
- Individual Client CountFirms who serve more individual clients (as opposed to institutional clients) are ranked higher.
- Clients Per AdvisorFirms with a lower ratio of clients per financial advisor are ranked higher.
- Age of FirmFirms that have been in business longer are ranked higher.
All information is accurate as of the writing of this article. This list may include firms that have a business relationship with SmartAsset, in which SmartAsset is compensated for lead referrals. Such relationships have no impact on our rankings, and firms are included and ranked based strictly on the above criteria.
Parsec Financial Management, Inc
At the top of our list, Parsec Financial Management is headquarted in Asheville but also has offices in South Asheville, Charlotte, Southern Pines, Tryon and Winston-Salem.
The team in Asheville includes: certified financial planners (CFPs), chartered financial analysts (CFAs) and a bevy of other certifications including certified public accountant (CPA), accredited investment fiduciary (AIF) and financial paraplanner qualified professional (FPQP).
Most investment accounts are on a discretionary basis, which means Parsec can make trades without prior client consent. The fee-only firm serves almost as many high-net-worth individuals as non-high-net-worth ones. It also has corporate pension, profit-sharing and 401(k) plans; foundations; endowments; charitable organizations; trusts; estates and corporations or other businesses as clients.
As large as the practice is, it has no minimum investment to open an account.
Parsec Financial Management Background
William Barton Boyer founded the firm in 1980. He remains the principal owner and serves as chairman of the board. Other advisors also have stakes, including President William Hansen, CEO Richard Manske and COO Harli Palme.
Parsec offers investment management and financial planning for individuals, qualified retirement plan consulting and employee education, and trust services through National Advisors Trust, its administrator for several clients.
Parsec Financial Management Investment Strategy
The firm says it “takes a long-term investment approach that focuses on diversification, client suitability and tax efficiency.” Each client’s portfolio is different, according to goals, cash flow needs, client preferences and more. That said, Parsec bases each portfolio on one of the models it has designed, based on risk tolerance and objectives.
Dixon Hughes Goodman Wealth Advisors LLC
Dixon Hughes Goodman Wealth Advisors has its main office in Asheville, seven more offices in North Carolina, and another several offices in six more southern states. The team in Asheville includes advisors who have professional certifications such as certified public accountant (CPA), personal financial specialist (PFS) and certified financial planner (CFP).
Overall, the fee-only firm serves about twice as many non-high-net-worth individuals as high-net-worth ones. Its clients also include corporate pension and profit-sharing plans, charitable institutions, foundations and endowments. There is no minimum investment requirement, but there is a minimum annual fee of $5,000. The vast majority of accounts are on a discretionary basis.
Dixon Hughes Goodman Wealth Advisors Background
Dixon Hughes Goodman was founded in 1997 and has been under its current ownership since 2004. It’s primarily owned by similarly named CPA firm Dixon Hughes Goodman LLP. The firm’s executives are also minority owners, including Kevin Broadwater, who is based in Asheville.
The practice offers investment management and financial planning services.
Dixon Hughes Goodman Wealth Advisors Investment Strategy
To accumulate great wealth long term, Dixon Hughes Goodman believes in “owning complete asset classes in statistically attractive weightings, via passive, pure no-load, low cost institutional mutual fund vehicles, which are held for the long term and rebalanced back to the original portfolio weightings.” However, it does not invest in passive indexes.
The ACT in ACT Advisors is an acronym for Act, Collaborate, Thrive. Founded in 2014, the fee-based firm is based in Asheville, with branch offices in Charleston and Raleigh. The team includes a number of certified financial planners (CFPs).
ACT’s non-high-net-worth clients are more than double the number of high-net-worth ones. Accounts are only on a discretionary basis. The firm also serves banks and thrift institutions, pension and profit-sharing plans, trusts, estates, charitable organizations, state and municipal government entities, corporations and other business entities.
Some advisors may earn commissions as a broker-dealer. This is a conflict of interest, but advisors must still act in the best interest of the client. The investment minimum varies between asset management clients and passive strategy clients.
ACT Advisors Background
Doug English and Wes Johnson formed ACT in 2014. English is the majority owner. Johnson and Jennifer English, Asheville branch manager, have minority stakes.
ACT sponsors and manages a wrap fee program, which provides advisory and brokerage execution services for an all-inclusive fee. (Johnson is a registered representative of LPL Financial, an SEC-registered broker/dealer).
The firm offers asset management, passive strategy asset management, financial planning and employer-sponsored plans participant advice.
ACT Advisors Investment Strategy
ACT employs a combination of fundamental and technical analyses, along with Modern Portfolio Theory. It may undertake a long- or short-term trading strategy, based on the client’s objectives and risk tolerance. The firm can also advise on the purchase and sale of various types of investments, including but not limited to, mutual funds, exchange-traded funds (ETFs), variable annuity subaccounts, real estate investment trusts (REITs), equities and fixed income securities.
Mutual funds are the most common investment at the firm.
Colton Groome Financial Advisors, LLC
Colton Groome Financial Advisors is a family firm. Its founder Henry Colton invited his son’s childhood friend George Groome to join the firm right after college. More than 40 years later, Groome and his sons Tate and Matt now run the practice.
The advisory team counts varioius professional certifications among them, including certified financial planner (CFP), certified public accountant (CPA), chartered life underwriter (CLU), chartered financial consultant (ChFC), accredited investment fiduciary (AIF), chartered retirement plans specialist (CRPS) and qualified plan financial consultant (QPFC). (Advisors may have multiple accreditations.)
The firm serves high-net-worth and non-high-net-worth individuals. It also serves retirement plans and their participants, charitable organizations, trusts, estates, endowments foundations, corporations and other business entities.
All investment accounts are on a discretionary basis. There is no minimum requirement, though there may be a minimum annual fee. Though the firm is not an insurance agent itself, it is a fee-based firm because some advisors may earn commissions selling insurance.
Colton Groome Financial Advisors Background
In its current formation, Colton Groome was founded in 2003. It is wholly owned subsidiary of Groome Holdings, LLC, which is owned by the Groomes.
The boutique wealth manager offers portfolio management, financial planning, retirement plan consulting, insurance strategy and trust services.
Colton Groome Financial Advisors Investment Strategy
The firm primarily employs strategic asset allocation, using index funds as well as actively managed funds and third-party managers. These are its stated main aims:
- “Protecting your hard-earned money from an investor's two worst enemies: market downturns and inflation
- “Leveraging knowledge and expertise from leading global resources
- “Focusing on independent thinking and research
- “Targeting the real issues in the economy and markets that will affect your money”
Earth Equity Advisors
Earth Equity Advisors is a fee-only advisor firm located in Asheville that is dedicated to working with investments that consider both wealth and making long-term positive impacts on the planet, society and future. The team consists of three financial advisors, three chartered SRI Counselors (CSRIC) one Accredited behavior financial professional and one client services associate.
The firm serves individuals, high-net-worth individuals, those with pension and profit sharing plans, charitable organizations and other businesses.
The firm also has no minimum investments.
Earth Equity Advisors' Management Background
Founded in 2017, the principal owners for the firm are Peter William Krull and Neill Currie Yelverton.
Prior to his arrival at the firm, Neil worked for over 10 years in the environmental and earned his MBA at Western Carolina University with an independent study in Corporate Social Responsibility and Sustainability in Business.
Earth Equity Advisors' Investment Strategy
Earth Equity Advisors offers clients investment advisory services based on financial goals, risk tolerance, objectives and time horizon. EEA creates an Investment Policy Statement for each client and will request discretionary authority to execute the investment strategy selected by the client.
The firm uses long-term strategies and it's method of analysis includes using fundamental analysis and the Modern portfolio theory.
Earth Equity Advisors' investment Advisory Services include:
- risk assessment & investment policy
- social & environmental screening
- asset selection (securities research & due diligence)
- asset allocation (strategic & tactical)
- portfolio monitoring & rebalancing
Earth Equity Advisors' portfolios mainly include the following sectors:
- Alternative energy
- Energy efficiency
- water technology
- Natural & organic products and services
- Green real estate
- Technology, big data
- Green finance
- Community investments
Horizons Wealth Management
Horizons Wealth Management is a fee-only firm with no minimum account size. The firm works with mainly individuals, the majority of whom are not high-net-worth clients. The only institutional clients at the firm are pension and profit sharing plans.
Wealth management fees are generally based on a percentage of assets under management while financial planning fees are charged hourly.
The Horizons team includes three certified financial planners (CFPs).
Horizons Wealth Management Background
Horizons was founded in 2007. David S. Hunter is the principal owner and Glen J. Martin is the minority owner.
Services include wealth management, financial planning, retirement planning, investment planning, insurance, tax planning and estate planning.
Horizons Wealth Management Investment Strategy
Strategic asset allocation is the primary tool used by investors at Horizons. The most common investment vehicle are exchange traded funds (ETFs), though other investments such as stocks and bonds may be used.
The following are methods of strategy according to the firm:
"Horizons Wealth Management uses strategic asset allocation, primarily using exchange traded funds as the investment vehicle. Each individual client’s portfolio is based on an Investment Policy Statement (IPS) agreement which dictates a client’s asset mix and risk tolerance. Each IPS is decided upon based on a risk questionnaire and approved by each client before implementation.
An IPS can be changed at each client’s request orascircumstanceschange. HWM will rebalance according to the IPS as needed. There are no guarantees of investment performance. There is a risk of investment loss anytime you purchase assets. Past performance is in no way an indication of future performance."
Altamont Capital Management
Founded in 2001, Altamont Capital Management features various professional certifications on its team, including certified public accountant (CPA) and certified financial planner (CFP).
The firm is fee-based as advisors may receive commissions for insurance services. As is often the case, the assets of high-net-worth clients outshadow those of non-high-net-worth clients, though they comprise a fraction of the client base. Generally, the minimum to open an investment account is generally $150,000. All accounts are on a discretionary basis.
Altamont Capital Management Background
Altamont is currently owned by the five principals working at the firm: Jeffrey Gould, Harvey Jenkins, Gerald Towson, Shon Norris and President James Plaster.
The group offers investment management, financial planning, retirement plan services and insurance services. In addition to individuals and families, it serves pension and profit sharing plans, trusts, estates, corporations and other business entities.
Altamont Capital Management Investment Strategy
Altamont takes the long view with investing. Its philosophy is based on three principles:
- Markets are efficient, leaving little room for outperformance.
- Better returns come with risk.
- High investment costs and poor tax management can be the largest detriment to returns.