Finding a Top Financial Advisor Firm in Erie, Pennsylvania
If you're seeking a financial advisor in Erie, Pennsylvania, we can help. SmartAsset's financial experts dug into the data and fine print to find the top registered investment advisors (RIAs) serving the area. For more options, use our advisor matching tool. It will connect 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||HBKS Wealth Advisors Find an Advisor||$5,341,129,116||No set account minimum|| || |
Minimum AssetsNo set account minimum
|2||Wedgewood Investors Inc Find an Advisor||$216,242,677||No set account minimum|| || |
Minimum AssetsNo set account minimum
|3||Robbins Wealth Management Find an Advisor||$181,764,246||$300,000|| || |
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What We Use in Our Methodology
To find the top financial advisors in Erie, 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.
HBKS Wealth Advisors
HBKS Wealth Advisors tops our list of the best financial advisor firms in Erie, Pennsylvania. While HBKS employs advisors across the country, its Erie team includes eight certified financial planners (CFPs), a certified public accountant, an accredited investment advisor fiduciary (AIAF), a certified divorce financial analyst (CDFA), and other finantial certifications.
This is the only fee-based firm on the list, but it does not set an account minimum. The firm may earn sales commissions from third-party financial companies. This may incentivize advisors to recommend certain products over others, which can create a potential conflict of interest. However, the firm is required by law to provide services solely in the best interest of the client.
HBKS Wealth Advisors Background
Founded in 2001, HBKS Wealth Advisors is owned by HBKSorce Holdings LLC, which in turn is majority-owned by Hill, Barth & King Financial Holdings, LLC. In addition to investment management services, the firm provides financial planning advice on such topics as:
- Retirement savings
- Estate planning
- Education funding
- Income tax planning
HBKS Wealth Advisors Investment Strategy
HBKS Wealth Advisors designs portfolios based on the risk and financial profile of the client. It may also recommend proprietary investment model portfolios. These portfolios may invest in mutual funds, exchange-traded funds (ETFs), equity and debt securities, annuities and insurance contracts, as well as alternative investments. Depending on your situation, the firm may engage in either short selling or long selling.
Wedgewood Investors Inc
Wedgewood Investors is a fee-only firm that screens potential clients before deciding whether to provide advisory services. The firm primarily works with individuals, families, charitable organizations and corporate retirement plans. Most of its clients are high-net-worth individuals.
Wedgewood doesn’t set an account minimum and it operates on a fee-only basis. This means its only compensation comes from its clients. The firm doesn’t sell securities or receive commissions for investing client assets in the products of other financial institutions.
Wedgewood Investors Background
Wedgewood Investors was founded in 1984. The firm's owner and portfolio manager Daniel J. Teed have been in the investment industry since the 1990s. According to its Form ADV, Wedgewood provides financial planning services but focuses on investment management. It offers options ranging from aggressive equity accounts to very conservative fixed U.S. government security accounts.
Wedgewood Investors Investment Strategy
Wedgewood Investors examines market conditions, the strength of the economy, and the movement of interest rates before making investment decisions. When analyzing equities, the firm selects industries it expects will benefit from current and projected market trends. The firm then chooses companies in these industries based on factors like underlying stock value.
When evaluating fixed-income investments, the firm considers the prospects of inflation and interest movements. The team also considers factors like the yield curve and credit risk. These advisors then select fixed-income securities based on the client's tax situation, income objectives, and risk tolerance.
A fixed income portfolio may invest in money market instruments, U.S. government, and agency securities, corporate and municipal bonds, mortgage-backed securities, and preferred stocks.
Robbins Wealth Management
Robbins Wealth Management completes our list with a team that includes one certified financial planner (CFP) and one chartered financial analyst (CFA). For investment advisory services, you’d generally need a minimum account size of $300,000. You can have an account worth less than that, but you'll still pay a minimum fee of $3,000. The firm primarily works with individuals, both with and without high net worths.
Advisors here work on a fee-only basis, so their compensation comes solely from fees charged to clients. They don’t earn commissions from third parties such as mutual fund companies or insurance firms. They don’t sell their own financial products either.
Robbins Wealth Management Background
Robbins Wealth Management, which also goes by Robbins Financial Advisory Service, was formed in 1990. Its principal owners are James H. Robbins and Janice K. Robbins. The firm's three-person advisory team has more than a combined 50 years of experience in the investment advisory space.
Advisors provide both discretionary and non-discretionary portfolio management, as well as retirement planning programs. Additionally, these professionals can provide advice on tax and estate planning matters.
Robbins Wealth Management Investment Strategy
The investment team designs portfolios based on the long-term goals and risk tolerance of clients. It primarily builds these portfolios with equity securities, mutual funds and ETFs. But because Robbins Financial specializes in non-discretionary services, the client has the final say on investment choices. Clients may place restrictions on certain securities.