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Top Financial Advisors in Glen Allen, VA

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This review was produced by SmartAsset based on publicly available information. The named firm and its financial professionals have not reviewed, approved, or endorsed this review and are not responsible for its accuracy. Review content is produced by SmartAsset independently of any business relationships that might exist between SmartAsset and the named firm and its financial professionals, and firms and financial professionals having business relationships with SmartAsset receive no special treatment or consideration in SmartAsset’s reviews. This page contains links to SmartAsset’s financial advisor matching tool, which may or may not match you with the firm mentioned in this review or its financial professionals.

Finding a Top Financial Advisor Firm in Glen Allen, Virginia

If you’re trying to find a financial advisor in Glen Allen, Virginia, we can help. The experts at SmartAsset conducted extensive research to find the top registered investment advisor (RIA) firms in Glen Allen. So don't worry about digging through complex documents loaded with financial jargon. If you don’t have a financial advisor yet, finding one doesn’t have to be hard. SmartAsset’s free tool matches you with up to three vetted financial advisors who serve your area, and you can have a free introductory call with your advisor matches to decide which one you feel is right for you. If you’re ready to find an advisor who can help you achieve your financial goals, get started now.

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Rank Financial Advisor Assets Managed Minimum Assets Financial Services More Information
1 Millennium Advisory Services, Inc. Millennium Advisory Services, Inc. logo Find an Advisor

Read Review

$530,135,067 No set account minimum
  • Financial planning
  • Portfolio management
  • Educational seminars

Minimum Assets

No set account minimum

Financial Services

  • Financial planning
  • Portfolio management
  • Educational seminars
2 The Main Street Group The Main Street Group logo Find an Advisor

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$224,117,308 No set account minimum
  • Financial planning
  • Portfolio management

Minimum Assets

No set account minimum

Financial Services

  • Financial planning
  • Portfolio management
3 Kinloch Capital, LLC Kinloch Capital, LLC logo Find an Advisor

Read Review

$219,938,572 No set account minimum
  • Financial planning
  • Portfolio management

Minimum Assets

No set account minimum

Financial Services

  • Financial planning
  • Portfolio management

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What We Use in Our Methodology

To find the top financial advisors in Glen Allen, 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:

  • AUM
    Firms with more total assets under management are ranked higher.
  • Individual Client Count
    Firms who serve more individual clients (as opposed to institutional clients) are ranked higher.
  • Clients Per Advisor
    Firms with a lower ratio of clients per financial advisor are ranked higher.
  • Age of Firm
    Firms that have been in business longer are ranked higher.
  • Fee Structure
    Firms with a fee-only (as opposed to fee-based) compensation structure are ranked higher.

All information is obtained through public records and is updated annually after the firms’ form ADV filing. 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. SmartAsset is not a client of the aforementioned firms, and did not receive compensation for including any of the firms on the aforementioned list.

Millennium Advisory Services

Topping our list is Millennium Advisory Services with hundreds of millions in assets under management (AUM). This Glen Allen financial advisory firm employs several investment professionals. Among them are accredited investment fiduciaries (AIFs) and certified financial planners (CFPs). The firm doesn't impose minimum account sizes and it primarily works with individuals who don’t have a high net worth.

As fee-only advisors, members of the firm collect compensation only from their clients. They don’t collect sales commissions from other financial services firms like insurance companies or fund providers. 

Millennium Advisory Services Background

Firm president Paul B. Hunt and vice president Steven T. Anderson founded Millennium Advisory Services in 2001. Hunt, who founded his first independent firm in 1994, focuses on working with nonprofit retirement plan sponsors. Anderson launched his career in 1994 and focuses on investment management. The team at Millennium Advisory Services has more than 50 years of combined experience.

Today, they lead a team that provides discretionary portfolio management services and financial planning advice. Depending on your needs, your financial plan may cover cash flow management, risk management, education fund planning, business planning, estate planning, tax management, insurance analysis and more.

Millennium Advisory Services Investment Strategy

When designing a portfolio asset allocation, the firm takes into account several factors such as the client’s age, financial situation, investment goals and time horizon. It then recommends one of a handul of investment models based on risk tolerance. These include aggressive growth, capital growth, growth, moderate growth, balanced, balanced income and conservative.

These model portfolios generally are built with passively managed exchange-traded funds (ETFs) and open-end mutual funds. But the firm would consider other securities types if deemed appropriate. Millennium Advisory Services monitors these portfolios on an ongoing basis and makes adjustments if necessary.

The Main Street Group

When it comes to financial designations, The Main Street Group is the most diverse on our list. Certifications that its on-staff advisors hold include chartered financial analyst (CFA), certified financial planner (CFP), accredited estate planner (AEP) and many more.

As most of its clients are non-high-net-worth individuals, the firm doesn't require a minimum account size to provide investment advisory services. The Main Street Group is a fee-based firm. This means that some representatives may recommend third-party financial products, like insurance policies, and receive sales commissions as a result. This compensation is in addition to the advisory fees they charge. With that said, note that as a fiduciary the Main Street Group must provide advice solely in the best interests of its clients, at all times. 

The Main Street Group Background

Steven G. Crawford formed The Main Street Group in 2005. Holding five financial industry designations, he led a team with more than 50 years of combined experience. These advisors offer asset management services and financial planning consulting on various topics like retirement, college fund, taxes, divorce, insurance, estate planning, budgeting and more.

The Main Street Group also offers access to a robo-advisor program called Institutional Intelligent Portfolios, sponsored by Charles Schwab. The Main Street Group determines a suitable investment strategy to apply when using this technology. 

The Main Street Group Investment Strategy

The Main Street Group develops investment strategies that adhere to the client’s risk tolerance, goals and time horizon. It primarily uses exchange-traded funds (ETFs), mutual funds, and individual equities. But it may consider individual bonds and options contracts to help the client meet investment objectives. 

For Institutional Intelligent Portfolios, the firm generally uses ETFs and a cash allocation.

Kinloch Capital

Wrapping up our list is Kinloch Capital, a fee-based firm. This is because one of the firm's advisors is a licensed real estate agent who can earn commissions from real estate investments and other activities related to their licensing. While this presents a potential conflict of interest, the firm's fiduciary duty means it must act in clients' best interests.

Peter Walls and Jennifer Berdell, the firm’s lead advisors, have around five decades of combined experience. Walls is a certified financial planner (CFP) and a chartered market technician (CMT). Both hold the FINRA Series 65 license, and both . Berdell is a CFP and a certified divorce financial analyst (CDFA). Imposing no minimum account size requirement, the team mainly works with non-high-net-worth and high-net-worth individuals. 

Kinloch Capital Background

Walls and Berdell founded Kinloch Capital in 2019. Walls previously held roles at Prudential Insurance and Merrill Lynch. Berdell worked as a trust officer and a municipal bond analyst. They generally offer discretionary asset management services as part of a wrap fee program. This means clients pay a bundled fee that covers advisory services and transaction-based expenses. 

They can also offer financial planning advice to the extent requested by the client. 

Kinloch Capital Investment Strategy

Kinloch Capital holds meetings with clients to get a grasp of their risk tolerance, investment goals, financial situations and more. It draws from this information to recommend a model portfolio. However, these portfolios don’t keep a static asset allocation. The firm monitors these portfolios and makes adjustments based on market conditions, changes to your financial situation and other factors. The firm also relies on technical analysis when making changes to portfolios.

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.

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