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Top Financial Advisors in Des Moines, IA

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Finding a Top Financial Advisor Firm in Des Moines, Iowa

SmartAsset created this list of the top financial advisor firms in Des Moines, Iowa after in-depth research and analysis. In tables and in reviews below, we highlight what each firm charges in fees, what its minimum account balances are and how it invests client assets. To find an advisor in your area, use SmartAsset’s free matching tool.

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

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$489,030,488 No set account minimum
  • Financial planning
  • Portfolio management
  • Selection of advisors
  • Educational seminars

Minimum Assets

No set account minimum

Financial Services

  • Financial planning
  • Portfolio management
  • Selection of advisors
  • Educational seminars
2 DMKC Advisory Services, LLC DMKC Advisory Services, LLC logo Find an Advisor

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$390,632,714 Varies based on account type
  • Financial planning
  • Portfolio management

Minimum Assets

Varies based on account type

Financial Services

  • Financial planning
  • Portfolio management
3 West Financial Services, LLC West Financial Services, LLC logo Find an Advisor

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$307,800,000 No set account minimum
  • Financial planning
  • Portfolio management
  • Publication of periodicals or newsletters
  • Educational seminars/workshops

Minimum Assets

No set account minimum

Financial Services

  • Financial planning
  • Portfolio management
  • Publication of periodicals or newsletters
  • Educational seminars/workshops

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How We Found the Top Financial Advisor Firms in Des Moines, Iowa

Any firm that is registered with the U.S. Securities and Exchange Commission (SEC) and operates in Des Moines was considered for placement on this list. However, firms that had no financial planners, had disciplinary issues on record with the SEC or didn’t manage individual accounts were eliminated. The remaining firms are listed below, ordered from the most assets under management (AUM) to the least. All information is accurate as of the writing of this article.

Legacy Financial Group

Legacy Financial Group

The Legacy Financial Group is an SEC-registered advisor that first opened its doors in 2010, making it one of the youngest firms on our list. Unlike several advisors, Legacy Financial Group specializes in actively managed portfolios. In other words, the firm generally considers asset allocations that aim to outperform market benchmarks.

This is a fee-based firm. That means some of its advisors can sell insurance products and securities on a commission basis. Despite the potential conflict of interest this creates, the firm is legally bound to act in clients' best interests due to its fiduciary duty.

Legacy Financial Group Background

Legacy Financial has been in business since 2010. The firm is wholly owned by Spectrum Wealth Advisors. However, the firm serves in a fiduciary capacity. This means it is required by applicable law to place the best interests of the client ahead of its own, despite advisors receiving third-party commissions.

Legacy Financial Group Investment Strategy 

Legacy Financial focuses on actively managed investment portfolios. This strategy involves utilizing research, analysis theories and other resources to select investments that may have potential for major return. 

According to recent documents the firm has filed with the SEC, “The Adviser believes that a portfolio should be diversified, and excess returns can be achieved by overweighting undervalued asset classes and investment styles.”

Unlike passive management strategies, active investing aims to outperform a market benchmark as opposed to mimicking it. However, such investments are generally more heavy on the fee side.

DMKC Advisory Services

DMKC Advisory Services, LLC

DMKC Advisory Services, LLC is the following firm on our list of the top financial advisors in Des Moines. This firm works mainly with individual clients, those both with and without a high net worth. Other clients include institutions such as charities and businesses.

DMKC is a fee-based firm. It employs advisors who may also receive commissions from selling insurance products or securities to clients. This potential conflict of interest is mitigated by the fact that the firm is a registered fiduciary advisor. This means it is legally obligated to act in the best interests of clients at all times.

DMKC Advisory Services Background

Daniel M. Kelly founded DMKC Advisory Services in 2007, and the firm registered with the SEC as an investment advisor the same year. Kelly serves as the president of the firm. D.M. Kelly & Company, which Kelly founded in 1995, is the parent company of DMKC. The Daniel M. Kelly 2004 Trust is the majority owner of D.M. Kelly & Company.

DMKC provides its clients with both investment portfolio management services and financial planning and consulting services.

DMKC Advisory Services Investment Strategy

DMKC works with its clients to provide tailored investment strategies that help them meet their individual financial goals. Advisors meet with clients on a regular basis to dtermine an overall financial profile, including tolerance for risk, liquidity needs, financial history, desired investment strategy and more.

Advisors at DMKC primarily use fundamental analysis to inform their investment decisions and long-term purchases to help drive growth in client portfolios. They use a range of model strategies, ranging from conservative income to aggressive growth.

West Financial Advisors

West Financial Services, LLC

A fee-only firm, West Financial Advisors, LLC comes last on our list. The team collectiveley features several certified financial planners (CFPs) and certified public accountants (CPAs), among other advisory certifications.

Individuals and their spouses make up the majority of this firm’s client base. More specifically, the firm aminly serves high-net-worth individuals and their families. The firm does not have a set account minimum, but it is focused on serving high-net-worth investors, defined as households with a least $1 million managed by the firm or individuals with a net worth exceeding $2 million.

West Financial Advisors Background

Husband and wife financial advisor duo, CIO Brian West and managing partner Laura West, independently own West Financial Advisors, LLC. The firm was founded in 2006, but its advisor team has an average of about 20 years in the financial industry.

This firm manages portfolios for many different types of clients and its offered services are equally as diverse. The firm’s most used services are financial planning, retirement and estate planning, insurance evaluation and tax minimization. Depending on what’s easiest for you, the firm will hold meetings with clients either in-person or online.

West Financial Advisors Investment Strategy

Before the portfolio construction process can begin, West Financial Advisors, LLC likes to make sure that it knows exactly what your desired investment style is. To do this, the firm will schedule a face-to-face consultation to learn about your risk tolerance level and time horizon. These guidelines are then taken into consideration to figure out how your portfolio will be diversified across asset classes.

This firm enagages in active management and believes that rebalancing your account according to market changes as important as designing your original asset allocation. But because success can be defined in more than one manner, the firm uses previous performance benchmarks to determine how well your portfolio is performing.

How Many Years $1 Million 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 To determine how long a $1 million nest egg would cover retirement costs in cities across America, we analyzed data on average expenditures for seniors, cost of living and investment returns.

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%. This reflects the typical return on a conservative investment portfolio. 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