Finding a Top Financial Advisor Firm in Cherry Hill, New Jersey
Choosing the right financial advisor can be an overwhelming process. So, SmartAsset created this list of the top Cherry Hill financial advisor firms to make the decision a little easier. Below, we compare the services the top firms provide, what their fee structures are and what kinds of clients they specialize in working with. SmartAsset has also developed a free financial advisor matching tool that can pair you with up to three advisors who serve your area.
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|Rank||Financial Advisor||Assets Managed||Minimum Assets||Financial Services||More Information|
|1||Wealth Management Associates, Inc. Find an Advisor||$522,124,442||$50,000|| || |
|2||Wealth CMT Find an Advisor||$290,762,729||$600,000|| || |
What We Use in Our Methodology
To find the top financial advisors in Cherry Hill, 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.
Wealth Management Associates
Wealth Management Associates, Inc. (WMA) is headquartered in Cherry Hill and has another New Jersey office in Haddonfield and a branch in Orwigsburg, Pennsylvania. Most advisors are also brokers and insurance agents. Advisory certifications in the Cherry Hill office include MBA, certified financial planner (CFP), accredited asset management specialist (AAMS) and more.
High-net-worth clients make up a minority of this firm's clients, as more individual clients do not have a high net worth with the minimum investment being a relatively low $50,000. WMA also serves pension and profit-sharing plans, trusts, estates, charitable organizations and businesses.
Some of the advisors at this fee-based firm can sell insurance products and securities on a commission basis. Despite the potential conflict of interest, this creates, the firm abides by fiduciary duty.
Wealth Management Associates Background
After working at brokerages for more than a decade, James Johnston set up his own shop, WMA, in 1998. He was soon joined by his friend and former colleague David Hess (they started their careers at Smith Barney together).
WMA offers discretionary and non-discretionary investment advisory services, financial planning on a stand-alone or consulting basis, qualified retirement plan services (to plan sponsors) and seminars. In the management of assets, the firm may recommend using a third-party advisor, and it may recommend insurance products (for which it receives commissions from the insurance company).
Wealth Management Associates Investing Strategy
The firm does not do tactical investing, which involves trying to time the market. Instead, it takes a long-term approach, holding positions for at least a year. Its primary strategy is asset allocation and its main method of securities review is fundamental analysis.
Wealth Creation Management and Transfer, more commonly called Wealth CMT, is a boutique firm. The advisory team includes MBAs, a chartered life underwriter (CLU) and a chartered financial consultant (ChFC). The firm is fee-based and may receive third-party commissions.
The minimum to open an investment account is $600,000, though the firm may waive the requirement at its discretion. The firm works with individuals both with and without a high net worth, pension and profit-sharing plans, trusts, estates and charitable organizations.
Wealth CMT Background
Andrew Barnett founded Wealth CMT in 2008, and then reformed it with equal partner Eric Feder a year later. Today, they are the sole owners.
The firm stands out for its emphasis on financial planning. It requires it as a first step before it will provide investment advisory services. Fees for financial planning (which includes portfolio design) range from $3,500 to $25,000, while portfolio management fees are asset-based, starting at 1.17% annually for the first $500,000 invested. Portfolio design is part of management services at most firms, and Wealth CMT says it will allow part of the cost of financial planning to offset some of its management fees.
Wealth CMT Investing Strategy
Wealth CMT has five basic asset-allocation approaches: conservative, moderate, balanced, growth and aggressive growth. It will custom-design a client’s portfolio using a mix of these approaches and then implement it generally using mutual funds, exchange-traded funds (ETFs) and third-party investment managers. Because of its holistic approach, the firm will include and review investments that can not be transferred in kind to the account with Wealth CMT, such as securities in a 401(k) plan.