Top Financial Advisors in Corning, NY

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Leading our list with the most client assets under management is Socha Financial Group. This fee-based firm currently works solely with individuals above and below the high-net-worth threshold, but offers services to charitable organizations and small businesses. 

When it comes to industry qualifications, Socha’s financial planning and investment teams offer a range of specialties. In fact, the firm has certified financial planners (CFPs), chartered financial analysts (CFAs), enrolled agents (EAs) and more on staff. 

This firm’s compensation arrangements include asset-based fees, hourly fees and fixed fees. While Socha doesn’t have a set account minimum, the firm can receive commissions for recommending certain insurance products to its clients, creating a potential conflict of interest. Then agin, the firm must abide by its fiduciary duty to always act in its clients' best interests. 

Socha Financial Group Background

Socha has been in business as an advisory firm since 2018. It specializes in investment advisory, financial planning and tax preparation services. 

The firm is owned by CEO Michael Socha, a former quantitative analyst for an institutional broker in New York City, and Michelle Socha Vang, the firm's chief compliance officer (CCO). 

Socha Financial Group Investment Strategy

Socha says on its website that it believes the fundamentals of investment management consist of balancing capital preservation and capital growth. The firm regularly uses active asset allocation when making investment decisions. 

The firm mainly invests in mutual funds, exchange-traded notes (ETNs), exchanged-traded funds (ETFs), closed end mutual funds, interval mutual funds, individual bonds and stocks, non-traded alternative investments, among others assets types.

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Burns Matteson Capital Management (BMCM) comes in second on our list of the top financial advisors in Corning. The firm's small team of advisors mostly works with non-high-net-worth and high-net-worth individuals, as well as some pension and profit-sharing plans and charitable organizations.

The minimum account size at this firm is $2 million, though BMCM reserves the right to accept clients with less than that. However, regardless of whether you're above or below that threshold, a $4,500 minimum quarterly fee applies, which could be cost-prohibitive for smaller accounts.

BMCM is a fee-only advisory firm, so it only receives client-paid fees as compensation. This is in contrast to a fee-based firm, which may also receive commissions from third parties on certain transactions. BMCM has certified financial planners (CFPs) on staff. 

Burns Matteson Capital Management Background

Burns Matteson Capital Management was founded in 2000. William B. Burns, the firm's president and co-chief investment officer (CIO), owns 93% of the firm, while his wife, Donna Burns, owns the remaining shares. William Burns holds the CFP designation. 

BMCM offers a range of stand-alone financial planning and consulting services to clients. These offerings relate to any of the following areas:

• Investment planning
• Estate planning
• Income tax planning
• Retirement planning
• Employee stock option planning
• College education planning
• Cash flow planning
• Insurance planning
• Wealth transfer planning
• Charitable gift planning

If you want to combine investment management with financial planning, the firm also offers wealth management services on an ongoing basis.

Burns Matteson Capital Management Investment Strategy

Burns Matteson Capital Management relies on a wide variety of research materials to inform its investment decisions. These can include financial newspapers, prospectuses, SEC filings, annual reports and more. While some of these resources are from third parties, the firm also conducts its own in-house investment research.

Investment portfolios at BMCM usually consist of an array of mutual funds and separately managed accounts, as well as individual stocks and/or options. In putting together an investment plan, the firm takes into account your risk tolerance, time horizon and income needs.

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BCK Partners, a fee-only firm, is next on our list of the top practices in Corning. The BCK Partners team features certified financial planners (CFPs), certified public accountants (CPAs), enrolled agents (EAs) and financial paraplanner qualified professionals (FPQPs).

The firm primarily works with individual clients, both above and below the high-net-worth threshold. BK Partners also currently advises charitable organizations and businesses. The firm does not have a minimum account size requirement.

As a fee-only firm, BCK only takes fees directly from clients. A fee-based firm, on the other hand, would earn income from clients as well as from other outside sources, such as insurance commissions.

BCK Partners Background

BCK Partners was founded in 2015 by its three principal owners, Sarah Creath, James Kaffenbarger and Michael Bono. The three have around five decades of combined experience in financial services.

This firm offers comprehensive financial management services that encompass all aspects of financial planning, as well as consulting and investment management. It reviews client accounts on at least a quarterly basis and manages assets solely on a discretionary basis.

BCK Partners Investment Strategy

BCK Partners tailors its investment strategy to fit the needs of each individual client. This involves building an asset allocation that incorporates client-related factors, including their risk tolerance, income needs, time horizon and investment objectives. To figure these out, the client and advisor will meet for an in-depth discussion about the client's financial needs.

In evaluating investments for client portfolios, the firm uses methods of fundamental analysis, mutual fund analysis and exchange-traded fund (ETF) analysis. Furthermore, the firm engages in both long- and short-term purchases, depending on your tolerance for risk. Portfolios typically consist of ETFs and mutual funds, individual stocks and bonds and a number of other securites. 

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The next firm on our list is Rooted Planning Group (RPG). RPG works almost entirely with individual clients, both with and without high net worths.

There is no minimum account size required to work with RPG. As a fee-only firm, RPG's revenue comes solely from client fees, and not, for instance, third-party commissions.

The entirely female advisory team at RPG has earned certifications including certified financial planner (CFP), certified divorce financial analyst (CDFA),  enrolled agent (EA), accredited asset management specialist (AAMS) and more. Some advisors hold more than one professional designation.

Rooted Planning Group Background

Amy Irvine, the current principal owner of Rooted Planning Group, founded the firm in 2016 after working at Burns Matteson Capital Management, the No. 2 firm on this list. Irvine holds a wide range of certifications and has around 30 years' experience in the financial services industry.

RPG focuses on project-based and comprehensive financial planning services. The firm helps clients with a range of issues, including retirement planning, cash flow analysis, estate planning, college planning and more. The firm also offers discretionary asset management.

Rooted Planning Group Investment Strategy

In order to provide adequate portfolio management, Rooted Planning Group begins each new relationship by determining the client's goals and developing a personal investment policy for them. The firm also works with each client to develop a detailed asset allocation based on their risk tolerance. It then designs individualized portfolios that consist of mutual funds, exchange-traded funds (ETFs), stocks, bonds, options and other investments, where appropriate.

The firm uses methods of technical and fundamental analysis to evaluate investments. RPG usually practices low-cost, passive investment management to help drive growth and keep costs down.

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Alsworth Capital Management is the last practice on our Corning list. The firm's co-founder and CEO Shane Alsworth is its sole financial advisor responsible for the management of client assets. Alsworth has a diverse client base that comprises individuals with and without a high net worth, pension and profit-sharing plans, charities and businesses. Alsworth does not have a minimum account size requirement.

Because Alsworth is also a licensed insurance agent and can earn third-party commissions for recommending certain products, Alsworth Capital Management is a fee-based firm. Despite the potential conflict of interest this presents, the firm has a fiduciary duty to serve its clients' best interest at all times.

Alsworth Capital Management Background

Shane and Jacqueline Alsworth opened Alsworth Capital Management in 2015. Shane Alsworth serves as the firm's CEO and chief compliance officer (CCO). He's also a certified financial planner (CFP), chartered life underwriter (CLU) and certified investment management analyst (CIMA). Jacqueline Alsworth acts as chief operating officer (COO). The two are the firm's sole principal owners.

This firm provides a wide range of wealth management services, from financial planning to discretionary asset management. The firm also offers retirement plan advisory services and wrap fee programs, which bundle brokerage and advisory fees into one single asset-based fee. 

Alsworth Capital Management Investment Strategy

Alsworth Capital Management takes a four-step approach to investment management. The firm begins each relationship by defining the needs and objectives of the client and establishing an individual investment strategy. It then determines an asset allocation, which is then used to construct an optimized portfolio. The firm continually supervises and reevaluates each portfolio in order to maintain desired returns as market conditions and client needs shift.

Alsworth Capital Management typically utilizes fundamental analysis when determining which investments to include in client portfolios. Through this process, the firm assigns an intrinsic value to a security to figure out if it's being undervalued. The firm generally invests in mutual funds, exchange-traded funds (ETFs), options and other securities on a long-term basis.

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Lake Road Advisors (LRA) is a fee-only firm offering various advisory services to dozens of clients, including non-high-net-worth individuals, high-net-worth individuals and several pension and profit-sharing plans. LRA has a small staff that includes two certified financial planners (CFPs).

For its advisory services, the firm charges asset-based fees and fixed fees. LRA also has a $500,000 negotiable minimum account size and does not collect commissions for recommending third-party products.  

Lake Road Advisors Background

Principally owned by Paul V. Sydlansky, Lake Road Advisors was established in 2016. LRA offers financial planning, portfolio management, pension consulting and advisor selection services.

When creating financial plans, LRA also focuses on other areas of analysis such as retirement planning, college planning, estate planning, insurance planning and more. 

Lake Road Advisors Investment Strategy

LRA practices passive investment management by constructing portfolios comprising various asset classes, according to its firm brochure. The firm then weights the asset classes in a way that achieves an attractive relationship between correlation, risk and return. 

As for the asset types the firm uses, LRA’s Form ADV shows that 100% of its assets under management are invested in exchange-traded equity securities.