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 who serve your area.
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|Rank||Financial Advisor||Assets Managed||Minimum Assets||Financial Services||More Information|
|1||Chevy Chase Trust Company Find an Advisor||$39,184,723,679||$3,000,000|| || |
|2||Heritage Investors Management Corp. Find an Advisor||$3,615,921,442||$1,000,000|| || |
|3||FBB Capital Partners Find an Advisor||$1,806,000,000||$5,000 minimum annual fee|| || |
Minimum Assets$5,000 minimum annual fee
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|4||Pennington Partners & Co., LLC Find an Advisor||$1,735,978,052||$100,000 minimum annual fee|| || |
Minimum Assets$100,000 minimum annual fee
|5||Trumbower Financial Advisors, LLC Find an Advisor||$1,647,185,643||No set account minimum|| || |
Minimum AssetsNo set account minimum
|6||Edgemoor Investment Advisors, Inc. Find an Advisor||$1,150,111,173||$1,000,000|| || |
|7||Sargent Investment Group Find an Advisor||$1,202,666,892||$500,000|| || |
|8||MV Capital Management, Inc. Find an Advisor||$911,299,127||$1,000,000|| || |
|9||The Family Firm, Inc. Find an Advisor||$758,801,689||$6,000 minimum annual fee|| || |
Minimum Assets$6,000 minimum annual fee
|10||Aegis Wealth Find an Advisor||$659,479,575||No set account minimum|| || |
Minimum AssetsNo set account minimum
What We Use in Our Methodology
To find the top financial advisors in Bethesda,, 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.
Chevy Chase Trust Company
Chevy Chase Trust Company is a massive fee-only financial advisor firm that's ranked No. 1 among advisory practices in Bethesda. The firm's principal business is serving high-net-worth individuals and families. It does not work with 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.
Institutional services are also a sizable part of Chevy Chase Trust Company's offerings. In fact, the firm manages assets for charitable organizations, businesses, government entities, pooled investment vehicles, retirement plans, escrow accounts and insurance companies.
Even at its very large size, the advisory staff at this firm boasts a fairly significant number of certifications. In fact, there chartered financial analysts (CFAs),certified financial planners (CFPs), a certified public accountant (CPA), a chartered market technician (CMT) and a certified trust and financial advisor (CTFA) on staff at Chevy Chase Trust Company.
In addition to being the top-rated firm in Bethesda, CCTC also holds the top spot on SmartAsset's list of the top financial advisors in the state of Maryland. As a fee-only practice, advisors at CCTC do not sell products or services ofr commissions.
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 Jeff Whitaker, president of family wealth services Lawrence Fisher II and chief planning officer Leslie Smith.
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.
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. is a fee-only firm that works with both high-net-worth and non-high-net-worth individuals, as well as pension and profit-sharing plans, charities and corporations.
The firm imposes a $1 million minimum account size and a $10,000 minimum annual fee, though both requirements can be waived. As a fee-only firm, Heritage's sole form of compensation comes from client-paid fees.
The firm's advisory team holds several financial certifications, including the chartered financial analyst (CFA), chartered investment counselor (CIC) and certified public accountant (CPA) designations.
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 family trusts.
Financial planning and investment management services are both available through Heritage Investors Management Corp. The firm's investment services are tailored to clients' specific needs and goals.
Heritage Investors Management Corp. Investing Strategy
Heritage Investors Management Corp. works to understand its clients before advisors start investing clients' 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.
FBB Capital Partners
FBB Capital Partners is another fee-only firm that primarily works with high-net-worth individuals and non-high-net-worth individuals. Advisors are also equipped to work with individuals' related estates and trusts, as well as charitable organizations.
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 advisors with the certified financial planner (CFP) designation, as well as those who hold the chartered financial analyst (CFA), certified public accountant (CPA) and chartered alternative investment analyst (CAIA) accreditations.
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 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 founder Susan B. Fulton (via control of Julian, Inc., a separate company).
FBB's primary services are investment management and financial planning, the latter of which the firm describes as the often overlooked, blocking and tackling of one's holstic financial well-being."
FBB Capital Partners Investment 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
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 several dozen 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.
At this firm, you'll find a number of accredited professionals who hold the following certifications: certified public accountant (CPA), chartered financial analyst (CFA), certified investment management analyst (CIMA), chartered alternative investment analyst (CAIA) and certified private wealth advisor (CPWA).
Pennington Partners & Co. Background
Pennington Partners & Co. was founded in 2016 by Brian Gaister and Rodd Macklin. Today, Gaister is the firm's CEO and owns the largest stake in the business. Macklin owns the second-largest interest in the firm, while three other people and one limited liability company own small stakes.
The firm's primary services are focused on investment advisory, family office services and business strategy consulting. The firm also provides investment advice to private funds.
Pennington Partners & Co. Investment 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.
Trumbower Financial Advisors, LLC
Trumbower Financial Advisors (TFA) is a fee-only firm that doesn't require an account minimum for new clients. As for clients, the firm works with individuals, high-net-worth individuals, their trusts and estates, as well as charitable organizations
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.
The Trumbower advisory team features a total of four certified financial planners (CFPs), two chartered financial analysts (CFAs) and two certified public accountants (CPAs).
Trumbower Financial Advisors Background
Trumbower Financial Advisors was created in 1996. Victoria M. Trumbower serves as the firm’s managing partner and owner. Trumbower has around 40 years of experience in the financial services industry.
The firm 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 Financial Advisors Investment 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).
Edgemoor Investment Advisors, Inc.
Edgemoor Investment Advisors is a fee-only firm that mainly works with individuals and high-net-worth individuals. However, the firm does require clients to maintain an account size of $1 million. Edgemoor also works with charitable organizations, corporations and businesses.
The team of advisors at Edgemoor includes three certified financial planners (CFPs) and two chartered financial analysts (CFAs).
As a fee-only firm, Edgemoor makes money via client-paid fees, not third-party commissions.
Edgemoor Investment Advisors Background
Edgemoor Investment Advisors has been in business since 1999 when it was created by current president and Thomas P. Meehan. Meehan still owns the firm to this day, along with managing director Paul P. Meehan and the Meehan Family Trust.
Edgemoor Investment Advisors 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.
Edgemoor Investment Advisors Investment Strategy
Edgemoor Investment Advisors believes in building client portfolios according to their needs and goals rather than a 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 income-generating investments. 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 has a $500,000 minimum account size. 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.
There are no certifications listed across the advisory team at this firm.
Sargent Investment Group Background
Sargent Investment Group was founded in 2018 and owned by Chris Sargent, Brian McGregor, Chris Rhyne and the Ricardo Rosenberg Family Trust. Sargent leads the advisory team following more than 50 years of experience in the financial services industry.
Sargent Investment Group Investment 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.
MV Capital Management, Inc.
MV Capital Management (MVCM) specializes in asset-management advice, and it can provide financial planning services upon request. This fee-based practice works with high-net-worth and non-high-net-worth individuals, retirement 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.
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.
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.
The firm employs one chartered financial analyst (CFA), one certified financial planner (CFP), one certified public accountant (CPA) who also holds the person financial specialist (PFS) designation.
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.
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.
MV Capital Management Investment 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.
The Family Firm, Inc.
The Family Firm is a financial advisory firm that only works with individuals, along with their related estates, trusts and any other investment accounts or entities. The firm’s advisors work on a fee-only basis, which means it collects fees directly from clients.
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.
When you work with the Family Firm, you have access to seven certified financial planners (CFPs), two certified divorce financial analysts (CDFAs) and one certified investment management analyst (CIMA).
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.
The Family Firm can create a strategic financial plan that meets the needs of clients. This may cover topics like investment management, estate planning, asset protection, tax minimization, retirement planning, education planning and charitable giving.
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, individual bonds, individual stocks, mutual fund and exchange-traded funds. The firm also works to keep trading costs and taxes low, as it believes that these can eat away at your long-term returns.
Aegis Wealth, the 10th and final firm on our Bethesda list, mainly works with high-net-worth individuals. The firm also manages assets for non-high-net-worth individuals and charitable organizations. In general, Aegis does not have a minimum account size for new clients, so technically anyone can work with the firm.
The team of advisors at this firm includes one certified public accountant (CPA), four certified financial planners (CFPs), one certified private wealth advisor (CPWA) and two certified investment management analysts (CIMAs).
This is a fee-only firm, so all of its compensation comes from client-paid fees.
Aegis Wealth Background
Aegis Wealth was founded in 2005 by current managing partners Eun Hee Kim, Paul A. Meloan and Viveka M. Ryn. Today, the firm is principally owned by this same trio.
Aegis Wealth specializes in comprehensive wealth management, which can include investment managemetn, tax planning, risk management and insurance needs, retirement planning, education funding, cash flow and spending needs, estate planning, business transitions and other services.
Aegis Wealth Investment Strategy
Aegis Wealth 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.