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Top Financial Advisors in Bloomfield Hills, MI

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Finding a Top Financial Advisor Firm in Bloomfield Hills, Michigan

Choosing a financial advisor is easier said than done, especially if you have several options in your area to pick from. SmartAsset created this list of the top financial advisor firms in Bloomfield Hills, Michigan to help you sort through your options. Below, we describe each firm’s typical investment strategy, client base, services and more. SmartAsset's financial advisor matching tool can also pair you with as many as three advisors near you.

Rank Financial Advisor Assets Managed Minimum Assets Financial Services More Information
1 LSIA LSIA logo Find an Advisor

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$6,030,379,476 $1,000,000
  • Financial planning services
  • Portfolio management

Minimum Assets

$1,000,000

Financial Services

  • Financial planning services
  • Portfolio management
2 Schwartz & Co. Schwartz & Co. logo Find an Advisor

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$4,011,048,003 No set account minimum
  • Financial planning
  • Portfolio management
  • Pension consulting

Minimum Assets

No set account minimum

Financial Services

  • Financial planning
  • Portfolio management
  • Pension consulting
3 Planning Alternatives LTD Planning Alternatives LTD logo Find an Advisor

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$1,168,105,800 No set account minimum
  • Financial planning services
  • Portfolio management

Minimum Assets

No set account minimum

Financial Services

  • Financial planning services
  • Portfolio management
4 Diversified Portfolios, Inc. Diversified Portfolios, Inc. logo Find an Advisor

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$1,034,548,338 $1,000,000
  • Financial planning services
  • Portfolio management

Minimum Assets

$1,000,000

Financial Services

  • Financial planning services
  • Portfolio management
5 Cranbrook Wealth Management, LLC Cranbrook Wealth Management, LLC logo Find an Advisor

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$770,874,831 No set account minimum
  • Financial planning services
  • Portfolio management
  • Pension consulting services

Minimum Assets

No set account minimum

Financial Services

  • Financial planning services
  • Portfolio management
  • Pension consulting services
6 Emerson Wealth Management, LLC Emerson Wealth Management, LLC logo Find an Advisor

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$467,878,307 No set account minimum
  • Financial planning services
  • Portfolio management
  • Selection of other advisors

Minimum Assets

No set account minimum

Financial Services

  • Financial planning services
  • Portfolio management
  • Selection of other advisors
7 Lifecycle Financial Planners Inc. Lifecycle Financial Planners Inc. logo Find an Advisor

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$432,400,962 No set account minimum
  • Financial planning services
  • Portfolio management
  • Tax perparation services

Minimum Assets

No set account minimum

Financial Services

  • Financial planning services
  • Portfolio management
  • Tax perparation services
8 Gainplan LLC Gainplan LLC logo Find an Advisor

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$251,477,934 No set account minimum
  • Financial planning services
  • Portfolio management
  • Pension consulting services

Minimum Assets

No set account minimum

Financial Services

  • Financial planning services
  • Portfolio management
  • Pension consulting services
9 Heron Bay Capital Management Find an Advisor

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$148,306,584 $1 million
  • Financial planning services
  • Portfolio management

Minimum Assets

$1 million

Financial Services

  • Financial planning services
  • Portfolio management
10 Integrated Capital Management Integrated Capital Management logo Find an Advisor

Read Review

$144,211,760 No set account minimum
  • Financial planning services
  • Portfolio management
  • Pension consulting services
  • Selection of other advisors

Minimum Assets

No set account minimum

Financial Services

  • Financial planning services
  • Portfolio management
  • Pension consulting services
  • Selection of other advisors

How We Found the Top Financial Advisor Firms in Bloomfield Hills, Michigan

For starters, SmartAsset only considered Bloomfield Hills firms that are registered with the U.S. Securities and Exchange Commission (SEC). SEC registration is essential because registered firms have a legally binding fiduciary duty to act in their clients’ best interests. They also must file a Form ADV each year to stay in good standing with the SEC, which gives crucial insight into their investment approaches and business practices. To narrow our list, we removed firms that have disclosures, do not manage individual accounts or do not offer financial planning. The result of this research is below, in order of the most assets under management (AUM) to the least. All information is accurate as of the writing of this article.

LSIA

LSIA

LSIA is a wealth advisory firm that’s been around for longer than a decade. The majority of LSIA’s clients are high-net-worth individuals, but it also works with non-high-net-worth individuals, pooled investment vehicles, pension plans, charitable organizations, government entities, other investment advisers, insurance companies, businesses and unions. This is a fee-only firm, which means you don't need to worry about conflicts of interest stemming from advisors making commissions on the side.

The firm provides portfolio management and financial planning services, and it occasionally acts as a sub-advisor for other investment advisors. LSIA generally imposes an account minimum of $1 million, but it may decide to waive this minimum under certain circumstances.

Portfolio management services come with a fee based on a percentage of your AUM. This can be as low as 0.02% and as high as 0.90% depending on the value of your assets. These charges, along with financial planning fees, are negotiable.

LSIA Background

LSIA was established in 2008 as a spin-off of Natixis Global Asset Management, a massive investment firm with $960 billion in assets under management (AUM). Natixis is the parent company of another investment advisor, Loomis, Sayles & Company, LP. Loomis Sayles is a minority owner of LSIA, and no owner controls more than 25% of the firm.

The firm employs nine total advisors across its offices in Bloomfield Hills, Michigan; Milwaukee, Wisconsin; Pasadena, California; and Boca Raton, Florida. Among them are one certified financial planner (CFP) and five chartered financial analysts (CFAs).

LSIA Investment Philosophy

LSIA has four main investment strategies that clients can choose between:

  • Total Portfolio Strategy - Under this strategy, the firm will construct a portfolio with multiple asset classes that’s based on the client’s investment objectives and goals.
  • Equity Strategy - This is a large-cap-centric stock strategy that looks to actively trade equity securities for long-term growth.
  • Bond Strategy - Portfolios using this strategy will consist of multiple types of bonds, with an objective to provide long-term returns with income.
  • Passive Management Strategy - This strategy seeks to mimic market indexes, with special attention to dividend stocks.

Schwartz & Co.

Schwartz & Co.

Schwartz & Co. has been doing business since 1976. The firm’s client base is a mix of individuals and high-net-worth individuals, pooled investment vehicles, pension plans, charitable organizations, government entities and corporations. The firm doesn’t have an account minimum.

Schwartz & Co. is fee-based, meaning some advisors may earn commissions from conducting securities transactions or selling insurance products. These commissions may alter incentives and create conflicts of interests. However, the firm is bound by its fiduciary duty to always act in the best interest of its clients. 

For investment management services, the firm will often customize fee schedules to each client. However, it estimates the fee to be a percentage of AUM ranging from 0.25% to 0.40%. Financial planning fees typically range between 0.50% to 1.50% of your AUM, depending on the nature of the services you request. These fees are negotiable and may vary from client to client.

Schwartz & Co. Background

Schwartz & Co. first opened its doors over 40 years ago. The firm is wholly owned by Schwartz Holdings, LLC, a financial services holding company. Gregory Schwartz, Sr., along with his five sons Gregory Schwartz, Jr., Walter Schwartz, Joseph Schwartz, Edward Schwartz and Peter Schwartz, all own shares in Schwartz Holdings. The firm has 17 advisors, one of whom is a certified public accountant (CPA).

The firm offers financial planning and investment management. Often, the firm will provide both of these services together, but it provides stand-alone financial planning as well.

Schwartz & Co. Investment Philosophy

A key aspect of Schwartz & Co.’s investment process is fitting its strategy to individualized factors like your time horizon, need for liquidity, risk tolerance and investment goals. With that in mind, the firm will construct a diversified portfolio of investments.

The firm often invests in or provides advice on equities, corporate debt securities, certificates of deposit (CDs), municipal securities, government securities, interests in real estate partnerships, variable life insurance, variable annuities and mutual fund shares.

Planning Alternatives Ltd.

Planning Alternatives LTD

Planning Alternatives Ltd. was founded in 1982 and works with individuals, high-net-worth individuals, pension plans, charitable organizations and businesses. 

Planning Alternatives is a fee-based firm, meaning some advisors may earn commissions for selling insurance products or conducting certain securities transactions. These commissions have the potential to create conflicts of interest, but the firm has a fiduciary duty to act in your best interest at all times. The team includes seven certified financial planners (CFPs) and one chartered financial analyst (CFA).

If you sign up for its investment management services, the firm charges a percentage of assets under management (AUM) that can range from 0.25% to 1.00%. Financial planning fees are typically charged at a fixed rate that’s negotiable depending on the complexity of your needs. The fee carries a minimum of $1,500, which could make it cost prohibitive for some clients with smaller portfolios.

Planning Alternatives Background

Planning Alternatives formed in 1982 and has one principal owner, Nathan Mersereau. The firm has 12 advisors on its staff, a group that includes nine certified financial planners (CFPs), one chartered financial analyst (CFA) and one accredited investment fiduciary (AIF).

The firm provides financial planning, individual and retirement plan investment management and consulting services. In certain situations, the firm may place assets under the advisement of other investment managers. There is no minimum account size for advisory services.

Planning Alternatives Investment Philosophy

Planning Alternatives invests in a wide range of securities, provided that each one falls in line with a client’s risk tolerance and overall investment goals. This assortment includes stocks, bonds, mutual funds, index funds, exchange-traded funds (ETFs), exchange-traded notes (ETNs) and fixed and variable annuities.

Mutual funds and ETFs are the two most popular investments here, as they easily allow for diversification across various markets and asset classes. Additionally, the firm also prioritizes asset allocation over individual security selection when building client portfolios.

Diversified Portfolios, Inc.

Diversified Portfolios, Inc.

Diversified Portfolios, Inc. is a fee-only firm that provides advisory services to individuals, high-net-worth individuals, pension plans, charitable organizations and corporations. The firm has three certified financial planners (CFPs) and two chartered financial advisors (CFAs) on staff.

A minimum portfolio size of $1 million is typically required to become a client.

Fees for investment management tend to fall between 0.50% and 0.90% of your assets under management (AUM). Wealth management services are also included in this fee arrangement. The firm may decide to negotiate a different fee schedule if it deems your situation appropriate for it.

Diversified Portfolios Background

Diversified Portfolios was founded in 1993. The firm has three principal owners in partners Robert Toal, Ronald Yolles and Thomas Post.

The firm provides investment management for individuals and retirement plans. It also offers wealth management services, which involve retirement planning and general financial planning.

Diversified Portfolios Investment Philosophy

Diversified Portfolios has a number of core beliefs upon which it bases its investment approach. It believes that the most important decision to be made is how to allocate your assets among cash, bonds, stocks, real estate and any other primary securities. Additionally, as its name suggests, the firm thinks that diversification among asset classes is the best method for limiting risk and increasing returns.

The advisory primarily invests with a long-term perspective, both to keep down trading costs and because a portfolio that diversifies across asset classes should increase in value over the long term. The firm also states that no-load, passively managed mutual funds and exchange-traded funds (ETFs) are the best vehicles for accessing that value, particularly for people using taxable investment accounts.

Cranbrook Wealth Management, LLC

Cranbrook Wealth Management, LLC

Cranbrook Wealth Management, LLC has been doing business in Michigan since 2004. The client base consists of individuals, high-net-worth individuals, pension plans and charitable organizations. 

Cranbrook is a fee-based firm, which means that some advisors may earn commissions from certain securities transactions or through the sale of insurance products. This practice may create conflicts of interests, but like all firms on this list, Cranbrook is bound by its fiduciary duty to act in its clients’ best interest. The team includes two certifieid financial planners (CFPs) and one chartered financial consultant (ChFC).

Financial planning fees will typically come in the form of a fixed fee, which can range from $2,500 to $50,000, depending on the scope of services. Investment management fees will be a percentage of  AUM, usually between 0.10% and 1.00%.

Cranbrook Wealth Management Background

Cranbrook Wealth Management was established in Troy, Michigan in 2004 and later moved to Bloomfield Hills. Its principal owner is Richard Balamucki, who founded the firm and serves as its president to this day.

Cranbrook provides comprehensive financial planning and investment management services. There is no account minimum at this firm.

Cranbrook Wealth Management Investing Philosophy

Cranbrook typically invests client assets in a mix of stocks, bonds, mutual funds, exchange-traded funds (ETFs), municipal and government securities and more. The firm tends to recommend mutual funds and ETFs of different kinds to promote portfolio diversification within various asset classes. The firm will not recommend investments in private equity or private placements.

Cranbrook works to tailor its investment strategy to each client by having them complete a “Risk Tolerance Assessment” at the start of the relationship. This allows the firm to learn about not only your risk tolerance, but also your financial needs, investment objectives, time horizon and any other factors that are relevant to your specific financial situation. The firm takes these factors into account and uses them to create an asset allocation that’s best equipped to produce success over the long term.

Emerson Wealth Management, LLC

Emerson Wealth Management, LLC

Emerson Wealth Management, LLC has been an investment advisor in Michigan since 2007. Its clients are almost entirely high-net-worth individuals, though the firm also advises a handful of non-high-net-worth individuals and pension plans.

The practice doesn’t impose an account minimum. It is fee-based, which means that some advisors may conduct securities transactions or sell insurance products that generate commissions on top of the advisory fees you pay. This practice may create a conflict of interest, but it doesn’t alter the firm’s fiduciary duty to act in clients' best interest at all times.

Emerson Wealth Management calculates investment management fees as a percentage of clients' AUM, between 0.15% and 0.95%. For financial planning or consulting services, the firm will charge a fixed fee of between $2,500 and $75,000. This fee is negotiable and will vary depending on the scope and complexity of the services provided.

Emerson does not provide a list of advisor certifications.

Emerson Wealth Management Background

Emerson Wealth Management was created in 2007. Managing partner Michael Emerson is the majority owner, with partner Kip White holding a minority stake.

Emerson provides fee-based investment management, financial planning and consulting services.

Emerson Wealth Management Investing Philosophy

Most of Emerson’s recommendations will be for mutual funds and exchange-traded funds (ETFs), but the firm may also invest in individual stocks, fixed-income securities like bonds, commercial paper, certificates of deposit (CDs), municipal securities, government securities and private placements.

When analyzing potential funds, the firm will examine factors like the performance history of the fund manager relative to competitors and other benchmarks, fund returns adjusted for risk, value that the manager is adding and any relevant fee concerns.

Lifecycle Financial Planners Inc.

Lifecycle Financial Planners Inc.

Lifecycle Financial Planners, Inc. has been providing investment advice to clients in the Bloomfield Hills area since 2017. Clients include individuals and high-net-worth individuals. Lifecycle Financial Planners is a fee-only firm, and there is no minimum account size.

Fees for financial planning and asset management services will often be rendered as a fixed annual charge. The fee can vary from $950 to $50,000, depending on the scope of services and the complexity of your finances.

No information is provided about the firm's advisor certifications.

Lifecycle Financial Planners Background

Lifecycle Financial Planners was founded in 2017. The firm has two principal owners: Pamela S. Landy and Melissa R. Scenga.

The firm provides holistic financial planning services to its clients, along with discretionary investment management. The former can include retirement accumulation and distribution planning, estate planning, insurance review, business planning, college planning, account structuring, cash flow management and debt/credit management.

Lifecycle Financial Planners Investment Philosophy

Lifecycle Financial Planners subscribes to Modern Portfolio Theory, which emphasizes asset diversification to maximize return for a given level of risk. The firm seeks to establish this risk tolerance for each client, and then optimize return based on that.

The firm generally offers investment advice on:

Gainplan, LLC

Gainplan LLC

Gainplan, LLC has been an investment advisor in Bloomfield Hills for about five years. The client list includes individuals, high-net-worth individuals, pension plans, charitable organizations and corporations.

At the fee-based firm, some Gainplan advisors may collect commissions in addition to advisory fees for conducting securities transactions or selling annuities or life insurance. While this creates the potential for conflicts of interest, the firm has a fiduciary duty to always act in the best interest of its clients.

Gainplan charges its management fees as a percentage of assets under management (AUM), which can range from 0.50% to 1.50%, depending your asset level. This fee will typically include financial planning fees, although the firm may charge a higher percentage if substantial planning is needed.

The firm's team includes four certified financial planners (CFPs), one chartered financial advisor (CFA) and one chartered retirement plans specialist (CRPS).

Gainplan Background

Gainplan was formed in 2015 by Jeffrey W. Ivory. Ivory is also the principal owner and CEO of the firm.

Gainplan primarily provides asset management services and financial planning. Beyond these, the firm offers consulting services for businesses, pensions and other retirement plans.

Gainplan Investment Philosophy

Gainplan uses a tactical asset allocation strategy to formulate client portfolios. More specifically, it will look forward to forecast risk and return, and use these insights to inform any tweaks that should be made. This differs from a more passive allocation strategy in which changes are only made to rebalance a portfolio to its original allocation. The firm believes its strategy better allows for the implementation of new information.

To protect against risk, the firm employs a number of strategies. First, the firm constructs portfolios using low-correlation asset classes, meaning that each class you’re invested in will be subject to different risk factors. This avoids a scenario in which the entirety of the assets in your portfolio experience a simultaneous drop due to a crash of a particular asset class or sector. Additionally, the firm invests in broad-based exchange-traded funds (ETFs) to diversify each portfolio efficiently.

Heron Bay Capital Management

Heron Bay Capital Management is a fee-only firm with clients including indviduals, nearly all of whom have high net worths, plus institutional clients including charitable organizations and corporations. 

It is a fee-only firm, so no advisors earn commissions. Fees are generally based on a percentage of assets under management. The minimum account size is $1 million.

Heron Bay does not have a working website and does not provide a list of financial certifications earned by advisors.

Heron Bay Capital Management Background

Heron Bay just started operations near the end of 2019. The sole owner is Gerald Seizert.

Services include asset management, financial planning services, cash flow projections, investment planning, retirement planning and investment risk management.

Heron Bay Capital Management Investing Strategy

Heron Bay advisors use cyclical, fundamental, technical and quantitative analyses to make decisions about client's investments. More than 80% of the investments at the firm are in indivudal equities. Bonds, mutual funds and cash holdings are also used.
 

Integrated Capital Management

Integrated Capital Management

Integrated Capital Management (ICM) has been an investment advisor in Michigan since 2016. Its almost 300 clients are exclusively individuals, with some having high net worths and some not. There is no set account minimum at the firm.

ICM is a fee-based advisory firm, which means some advisors may earn commissions for selling life insurance or conducting some securities transactions. These commissions create the potential for conflicts of interest. However, the firm is a fiduciary and must act in clients' best interests at all times.

For investment management services, the firm charges fees as a percentage of client AUM. This rate will vary between 0.50% and 2.50%, depending on the size of the account and what your assets are invested in. For financial planning clients, you’ll need to pay either a fixed fee between $1,000 and $5,000 or an hourly fee of $250. These fees are negotiable.

The team at ICM includes two certified financial planners (CFPs), two certified retirement plan counselors (CRPCs) and one chartered life underwriter (CLU).

Integrated Capital Management Background

ICM was formed in 2016, and it’s owned and controlled by Eric Singer and Brian Franke. Singer and Franke worked together at a different firm prior to founding Integrated Capital Management.

The practice provides discretionary investment management, financial planning and consulting services for individuals, businesses or retirement plans.

Integrated Capital Management Investing Philosophy

Integrated Capital Management approaches each investment process by considering the client’s investment goals, which are typically nailed down during the financial planning process. With that in mind, the firm will invest in a range of individual stocks, bonds, mutual funds and exchange-traded funds (ETFs). The exact asset allocation will depend on the client’s needs, risk tolerance and timeline.

How Long $1mm Lasts in Retirement

SmartAsset's interactive map highlights places where $1 million will last the longest in retirement. Zoom between states and the national map to see the top spots in each region. Also, scroll over any city to learn about the cost of living in retirement for that location.

Least
Most
Rank City Housing Expenses Food Expenses Healthcare Expenses Utilities Expenses Transportation Expenses

Methodology We analyzed data on average expenditures for seniors, cost of living and investment returns to determine how many years of retirement a $1 million nest egg would cover in cities across America.

First, we looked at data from the Bureau of Labor Statistics (BLS) on the average annual expenditures of seniors. We then applied cost of living data from the Council for Community and Economic Research to adjust those national average spending levels based on the costs of each expense category (housing, food, healthcare, utilities, transportation and other) in each city. Using this data, SmartAsset calculated the average cost of living for retirees in the largest U.S. cities.

We assumed the $1 million would grow at a real return (interest minus inflation) of 2%. Then, we divided $1 million by the sum of each of those annual numbers to determine how long $1 million would cover retirement expenses in each of the cities in our study. Cities where $1 million lasted the longest ranked the highest in the study.

Sources: Bureau of Labor Statistics (BLS), Council for Community and Economic Research