Finding the Top Financial Advisors in Bethesda, Maryland
If you’re looking to work with a financial advisor in Bethesda, Maryland, we can help. SmartAsset conducted in-depth research to bring you the top financial advisor firms in the area. Below, take a look at each firm's fee structure, advisory services, account minimum, advisory certifications, investment strategy and more. SmartAsset's free advisor matching tool can simplify your search, as it will personally pair your with suitable financial advisors near you.
|Rank||Financial Advisor||Assets Managed||Minimum Assets||Financial Services||More Information|
|1||Chevy Chase Trust Company Find an Advisor||$33,997,884,407||$3,000,000|| || |
|2||Heritage Investors Management Corp. Find an Advisor||$2,791,859,518||$1,000,000|| || |
|3||Trumbower Financial Advisors, LLC Find an Advisor||$1,279,713,572||No set account minimum|| || |
Minimum AssetsNo set account minimum
|4||FBB Capital Partners Find an Advisor||$1,258,000,000||$5,000 minimum annual fee|| || |
Minimum Assets$5,000 minimum annual fee
|5||Edgemoor Investment Advisors, Inc. Find an Advisor||$1,066,989,964||$1,000,000|| || |
|6||Sargent Investment Group Find an Advisor||$971,284,000||No set account minimum|| || |
Minimum AssetsNo set account minimum
|7||Pennington Partners & Co., LLC Find an Advisor||$775,529,881||$100,000 minimum annual fee|| || |
Minimum Assets$100,000 minimum annual fee
|8||The Family Firm, Inc. Find an Advisor||$601,612,310||$6,000 minimum annual fee|| || |
Minimum Assets$6,000 minimum annual fee
|9||MV Capital Management, Inc. Find an Advisor||$563,329,979||$1,000,000|| || |
|10||Aegis Wealth Management, LLC Find an Advisor||$521,147,281||No set account minimum|| || |
Minimum AssetsNo set account minimum
How We Found the Top Financial Advisors in Bethesda, Maryland
We started by gathering information on all financial advisors firms registered with the U.S. Securities and Exchange Comission (SEC) in Bethesda, Maryland. Then we narrowed that list down by removing firms that didn’t offer stand-alone financial planning services or work with a majority of individuals. We also removed firms that faced disciplinary action, based on information in their Form ADVs. Finally, we ranked the firms based on assets under management (AUM). All information is accurate as of the writing of this article.
Chevy Chase Trust Company
Chevy Chase Trust Company is a massive fee-only financial advisor firm that's located in central Bethesda. The firm's principal business is serving high-net-worth individuals and families, with no individual clients below the high-net-worth threshold. Indeed, the firm has a $3 million minimum account size, though it says it is waivable either at the firm's discretion or because of expectations that the account will surpass that minimum at a later date.
Services available to individual clients of this firm include financial planning and investment management. More specifically, financial planning can cover topics like income planning, cash flow planning, risk management, insurance planning, strategic tax planning, estate planning, charitable gift planning and more. Investment services are based around the creation and management of a personalized portfolio.
Institutional services are also a sizable part of Chevy Chase Trust Company's offerings. In fact, the firm manages assets for charitable organizations, businesses, pooled investment vehicles, retirement plans and insurance companies.
Chevy Chase Trust Company also holds the top spot on SmartAsset's list of the top financial advisors in Maryland.
Chevy Chase Trust Company Background
Chevy Chase Trust Company was first established in 1997. A related holding company called Chevy Chase Trust Holdings, LLC owns the firm as one of its subsidiaries. Today, the firm is led by chief investment officer (CIO) Amy Raskin, president and CEO Peter Welber, chief financial officer (CFO) Joel Friedman and chief technology officer (CTO) Jeffrey Bishoff.
Even at its very large size, the advisory staff at this firm boasts a fairly significant number of certifications. In fact, there are nine chartered financial analysts (CFAs), five certified financial planners (CFPs), one certified public accountant (CPA), one chartered market technician (CMT) and one certified trust and financial advisor (CTFA).
Chevy Chase Trust Company Investing Strategy
Chevy Chase Trust Company utilizes two main categories of investment philosophies: equity and fixed-income. When it comes to fixed-income investing, the firm attempts to both preserve your account's principal and beat inflation so your money doesn't lose value. This strategy is used to balance out an equity strategy, depending on your risk tolerance. The firm focuses on your tax situation, income needs and other client-specific requirements when building out your fixed-income portfolio.
For equity investing, the firm will combine to invest in large-, medium- and small-cap stocks in an effort to protect your assets from unsustainable highs and extreme lows in the market. Additionally, the firm will invest throughout various geographies and market sectors to furthur ensure diversification. Again, this strategy will work alongside its fixed-income counterpart to ensure you have enough liquidity.
Heritage Investors Management Corp.
Most of Heritage Investors Management Corp.'s assets under management (AUM) comes from high-net-worth individuals. This is unsurprising considering the firm has a $1 million minimum account size and $10,000 minimum annual fee, though both requirements can be waived. The firm also works with non-high-net-worth individuals, charitable organizations, businesses and retirement plans.
This is a fee-only firm. That means that its sole form of compensation comes from client-paid fees.
Financial planning and investment management services are both available through Heritage Investors Management Corp. The firm investment services are tailored to clients' specific needs and goals.
Heritage Investors Management Corp. Background
Heritage Investors Management Corp. is one of the oldest firms on this list, as it was founded back in 1974. The firm is under the ownership of its president Michael S. Cornfield and his trusts. There are no advisory certifications to report for this firm.
Heritage Investors Management Corp. Investing Strategy
Heritage Investors Management Corp. works to understand their clients before they start investing their money. According to the firm's Form ADV, it pays attention to the following when formulating an investment plan:
- Risk tolerance
- Age and time horizon
- Income needs
- Growth needs
- Tax situation
Once the above process is complete, this firm will then work on creating an investment portfolio for the client. In general, the firm tends to invest in U.S. stocks, bonds and exchange-traded funds (ETFs), though the firm is also open to investing in foreign stocks and bonds. When analyzing which securities to invest in, the firm uses a combination of fundamental and technical analysis.
Trumbower Financial Advisors
Trumbower Financial Advisors, LLC (TFA) focuses on tax and financial planning services, as well as investment advisory services. More specifically, it offers advice on topics such as estate planning, retirement planning, budgeting and cash flow management. Trumbower doesn't require an account minimum for new clients.
Of the firm's around 200 clients, most are high-net-worth individuals. The firm also works with:
- Non-high-net-worth individuals
- Trusts, estates and foundations
- Charitable organizations
- Pension and profit-sharing plans
- Personal service corporations
This firm works on a fee-only basis, which means it collects compensation solely from client-provided services and doesn’t earn any third-party commissions.
Trumbower Financial Advisors Background
Trumbower Financial Advisors was created in 1996. Victoria M. Trumbower serves as the firm’s managing partner and sole owner. Trumbower has around 40 years of experience in the financial services industry.
The Trumbower advisory team features a total of four certified financial planners (CFPs), three chartered financial analysts (CFAs) and two certified public accountants (CPAs).
Trumbower Financial Advisors Investing Strategy
TFA deploys a five-step investment advisory process. It begins with establishing a long-term financial plan that considers the client’s investment goals. The firm then examines the client’s existing asset allocations against the information it gathered. It then develops a strategic asset allocation based on the data it gathered from the first two steps. Next, the advisor helps the client determine an investment policy statement (IPS). Finally, the firm and client agree on a regular schedule to review and rebalance the portfolio.
Unless the advisor determines the client has a long-term time horizon, it will follow a Conservative Fixed-Income strategy. This generally involves investing in municipal bonds, FDIC-insured certificates of deposit (CDs). It may also utilize equity mutual funds and unleveraged broad index exchange-traded funds (ETFs).
FBB Capital Partners
FBB Capital Partners generally provides financial planning services to clients that also enroll in its portfolio management program. Most of its clients are non-high-net-worth individuals. Advisors are also equipped to work with high-net-worth individuals, as well as their related estates, trusts and charitable organizations. The firm also works with corporations and retirement plans.
For portfolio management accounts with less than a $500,000 balance, the firm generally requires a $5,000 minimum annual fee. Depending on the scope of the services you need, the firm may provide financial planning on an hourly or fixed-fee basis.
When you establish a relationship with FBB, you’ll have access to seven certified financial planners (CFPs), four chartered financial analysts (CFAs), two certified public accountants (CPAs) and one chartered alternative investment analyst (CAIA).
FBB Capital Partners Background
FBB Capital Partners first began offering its services in 1987. The firm is under the ownership of president Michael J. Mussio, executive vice president and chief compliance officer (CCO) Stein A. Olavsrud, director of operations Bridget M. Simpson and firm founder Susan B. Fulton (via control of Julian, Inc., a separate company).
This is a fee-only firm, which means all of its earnings come from client-paid fees and not third-party commissions.
FBB Capital Partners Investing Strategy
FBB Capital Partners designs portfolios based on a client's individual circumstances such as risk tolerance and investment goals. The firm does not limit itself to certain securities and makes recommendations as it deems appropriate to your financial circumstances. Your portfolio may offer exposure to the following securities.
- Exchange-listed securities
- Securities traded over-the-counter
- Corporate debt securities
- Municipal securities
- Mutual fund shares
- United States governmental and agency securities
- Options contracts on securities
Edgemoor Investment Advisors
Edgemoor Investment Advisors, Inc. provides personalized investment advisory and financial planning services to clients. Investment services will be based on your needs and goals. Financial planning services follow a similar structure, but they tend to focus on financial situation analysis, income planning, insurance planning, risk management, college savings planning and more.
High-net-worth individuals dominate the client base at Edgemoor. The firm also works with non-high-net-worth individuals, charitable organizations, businesses, retirement plans and investment companies. To become a client of this firm, you'll need at least $1 million in investable assets. Under certain circumstances, this minimum may be waived, though.
As a fee-only firm, Edgemoor makes money via the fees clients pay rather than third-party commissions.
Edgemoor Investment Advisors Background
Edgemoor Investment Advisors has been in business since 1999 when it was created by current firm president Thomas P. Meehan. Meehan still owns the firm to this day, along with managing directors Paul P. Meehan and R. Jordan Smyth, Jr. and the Meehan Family Trust.
The team of advisors at Edgemoor includes two certified financial planners (CFPs) and two chartered financial analysts (CFAs).
Edgemoor Investment Advisors Investing Strategy
Edgemoor Investment Advisors believes in building client portfolios according to their needs and goals rather than an firm-wide philosophy. To understand exactly what you're looking for out of your investments, the firm will talk with you to figure out your long- and short-term investment goals, risk tolerance, current financial position, time horizon and income needs.
Once the firm feels comfortable in its understanding of your personal situation, it will put together and implement a portfolio plan that's specifically tailored to the aforementioned factors. In general, the firm tends to invest in some combination of equities and fixed-income securities. As your portfolio ages, the firm will continuously review and rebalance your investments.
Sargent Investment Group
Sargent Investment Group (SIG) provides investment advisory services to a wide range of clients. It also offers financial planning services to these clients on one-time or ongoing flat fee basis. Financial planning services can cover any area that the client needs help with. Most of SIG's clients are high-net-worth individuals. However, the firm also works with non-high-net-worth individuals, trusts, estates, non-profit organizations and businesses.
The firm currently doesn’t require an asset-based minimum account size. On the other hand, it does have a $500 minimum annual fee for its investment advisory services.
On certain occasions, this fee-based firm can earn commissions from the sale of third-party investment products. Despite the potential conflict of interest this creates, the firm is legally bound by fiduciary duty to act in your best interest at all times.
Sargent Investment Group Background
Sargent Investment Group was founded in 2018 by principals and senior financial advisors Chris Sargent, Ricardo Rosenberg and Brian McGregor. This trio still owns the firm. Chris Sargent leads the advisory team following more than 50 years of experience in the financial services industry.
There are no certifications across the advisory team at this firm. These could include certified financial planner (CFP) or chartered financial analyst (CFA).
Sargent Investment Group Investing Strategy
Sargent Investment Group’s investment advisory strategy begins with a thorough analysis of the client’s current situation. The firm examines factors like risk tolerance, investing goals, tax status, investing time horizon and more. It then builds a portfolio with an asset allocation that’s appropriate to you based on this information.
The firm generally invests client assets across mutual funds, exchange-traded funds (ETFs) and individual securities such as stocks and bonds. The firm may also utilize third-party fund managers when it deems it appropriate to your situation. SGI selects such managers based on qualitative and quantitative analysis that may incorporate several points such as performance and volatility characteristics.
Pennington Partners & Co.
Perhaps the most eye-catching fact about Pennington Partners & Co., LLC is its $100,000 minimum annual fee. While this requirement is waivable, there's no doubt that this is an exclusive firm - it only works with around 50 clients, the vast majority of whom are ultra-affluent high-net-worth individuals. The firm also works with a few pooled investment vehicles.
This firm calls itself a "dynamic family office." Family office services are therefore a major part of its offerings, as it provides clients with the holistic management of all of their assets and investments. The firm offers investment services on a non-wrap fee basis.
Certain on-staff advisors at this firm can receive commissions for insurance sales. Although this represents a potential conflict of interest, the firm is legally required to act in clients' best interests due to its fiduciary duty.
Pennington Partners & Co. Background
Pennington Partners & Co. is a fairly young firm, as it was founded in 2016 by Brian Gaister and Rodd Macklin. Today, Gaister is the firm's CEO and Macklin acts as chief financial officer (CFO) and chief compliance offier (CCO). The duo principally owns the firm.
At this firm, you'll find one certified public accountant (CPA), two chartered financial analysts (CFAs), one certified investment management analyst (CIMA) and one certified private wealth advisor (CPWA).
Pennington Partners & Co. Investing Strategy
Investment strategies typically used by advisors at Pennington Partners & Co. include long-term purchases, short-term purchases, trading and options. By incorporating both long- and short-term purchases in its investment philosophy, the firm ensures that it can attempt to meet clients' needs regardless of their time horizon.
When determining which types of securities to invest in, this firm tends to utilize some combination of charting, cyclical, fundamental and technical methods of analysis. The firm is open to using just about any investments when managing client assets.
The Family Firm
The Family Firm is a financial advisor firm that only works with individuals, along with their related estates, trusts, retirement plans and any other investment accounts or entities.
The firm notes that because it charges a minimum annual fee of $6,000, clients should have a minimum account size of $600,000 to justify the charge. Otherwise, the firm's minimum fee could become cost-prohibitive.
The Family Firm can create a strategic financial plan that meets the needs of clients. This may cover some or all of the following:
- Investment management
- Estate planning
- Asset protection
- Tax strategizing
- Retirement planning
- Education funding
- Charitable giving
The firm’s advisors work on a fee-only basis, which means it collects fees directly from clients.
The Family Firm Background
Back in 1984, The Family Firm was founded by Mary A. Malgoire as Malgoire Drucker Inc. Malgoire no longer works at the firm. Today, the firm is principally owned by president and director of investments Nathan J. Gendelman and senior financial advisors Kate Fries and Stacy Bakri.
When you work with the Family Firm, you have access to six certified financial planners (CFPs), two certified divorce financial analysts (CDFAs) and one certified investment management analyst (CIMA).
The Family Firm Investing Strategy
The Family Firm aims to build diversified portfolios that meet clients' specific investment and financial needs. It will take into consideration your goals, appetite for risk, time horizon, income needs and other important factors during this process. Based on this and other information it gathers, the firm may invest your money across different asset classes, such as equities and fixed-income securities. The firm also works to keep trading costs and taxes low, as it believes that these can eat away at your long-term returns.
MV Capital Management
MV Capital Management, Inc. (MVCM) specializes in asset-management advice and it can provide financial planning services upon request. MVCM works with high-net-worth and non-high-net-worth individuals, pension and profit-sharing plans, and charitable organizations. For its investment advisory services, the firm adheres to an aggregate minimum account size of $1 million on a per household basis.
MVCM focuses on discretionary and non-discretionary investment advisory services. However, financial planning services are available if you need them. These can include wealth accumulation planning, distribution planning, wealth transfer planning, business exit strategizing, estate planning, insurance planning and more.
As a fee-based firm, certain advisors at MVCM can earn commissions from insurance sales, which is a potential conflict of interest. The firm still abides by fiduciary duty, though, legally binding it to act in your best interest.
MV Capital Management Background
MV Capital Management's president and CEO Masood Vojdani founded the firm in 1986 and remains its sole owner. Vojdani has around 40 years of experience in the financial services industry. The firm employs one chartered financial analyst (CFA), one certified financial planner (CFP), one certified public accountant (CPA), one chartered life underwriter (CLU) and one chartered financial consultant (ChFC).
The firm collects fees based on a percentage of your assets under management (AUM). For financial planning services, fees may vary and are based on the scope of the services you need.
MV Capital Management Investing Strategy
MV Capital Management analyzes clients’ financial profiles to design portfolios. It takes into account various factors like goals, risk tolerance and time horizon to create an appropriate asset allocation. It may spread your assets across multiple asset classes including mutual funds, exchange-traded funds (ETFs), stocks, bonds and other securities.
The firm also incorporates market research from various sources to drive its securities selection process.
Aegis Wealth Management
Aegis Wealth Management, LLC works with just over 100 clients, with most of them being high-net-worth individuals. The firm also manages assets for non-high-net-worth individuals, charitable organizations and businesses. In general, Aegis does not have a minimum account size for new clients, so technically anyone can work with the firm.
Aegis Wealth Management divides its services into three groups: wealth creation, wealth preservation and wealth transfer. Wealth creation involves investment planning, management, monitoring and reporting, as well as financial analyses. Wealth preservation focuses on tax management, retirement planning, cash flow management and risk management. Lastly, wealth transfer is centered around estate planning and philanthropic planning.
This is a fee-only firm, so all of its compensation comes from client-paid fees.
Aegis Wealth Management Background
Aegis Wealth Management was founded in 2005 by current managing member Eun Hee Kim. Today, the firm is principally owned by Kim and two other managing members in Paul Meloan and Viveka Ryn.
The team of advisors at this firm includes one certified public accountant (CPA), five certified financial planners (CFPs) and one certified investment management analyst (CIMA).
Aegis Wealth Management Investing Strategy
Aegis Wealth Management builds each client portfolio with their personal needs in mind. The firm will review your risk tolerance, time horizon, liquidity needs, income needs and financial goals before any of your money is invested. Based on the insights it gleans from this information, the firm will create an asset allocation plan that fits your risk tolerance level.
This firm is open to investing in a number of different types of securities. These include mutual funds, stocks, fixed-income securities, exchange-traded funds (ETFs), real estate investment trusts (REITs), non-U.S. securities and treasury inflation-protected bonds.