Finding a Top Financial Advisor Firm in Grand Rapids, Michigan
Sorting through all financial advisor firms in your area to find the right advisor for you can be a challenging undertaking. To simplify the search for Grand Rapids residents, SmartAsset has created this list of the top Grand Rapids financial advisor firms. After extensive research into the area’s firms, SmartAsset has laid out below what services each of the top firms offer, the account minimums required, the fees charged and more. For additional guidance, take advantage of the SmartAsset financial advisor matching tool, which can pair you with financial advisors in your area who suit your needs.
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FormulaFolio Investments, LLCFind an Advisor
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Retirement Wealth Advisors, Inc.Find an Advisor
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Grand Wealth Management, LLCFind an Advisor
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Blue Water Asset Management, LLCFind an Advisor
No set account minimum
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No set account minimum
Voisard Asset Management GroupFind an Advisor
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How We Found the Top Financial Advisor Firms in Grand Rapids, Michigan
Any financial advisor firm in the Grand Rapids, Michigan area registered with the U.S. Securities and Exchange Commission (SEC) was considered for this list. All SEC-registered firms are fiduciaries, legally binding them to act in clients’ best interests at all times. Financial advisor firms that did not manage individual accounts, did not offer financial planning or did not have a clean record were eliminated. The remaining firms are listed below, ordered from the most assets under management (AUM) to the least.
FormulaFolio Investments, LLC
With nearly $2 billion in assets under management (AUM), FormulaFolio Investments, LLC is by far the largest financial advisor firm on this list. However, despite that staggering total of assets under the firm’s control, its team of advisors remains at just 13 members. The advisory team includes one certified financial planner (CFP) and one chartered financial analyst (CFA).
This fee-only firm says it works almost exclusively with non-high-net-worth individuals, a claim supported by the fact that the firm serves 132 individuals for every one high-net-worth individual. This could be because of the firm’s comparatively modest $25,000 account minimum. FormulaFolio is the only firm on this list to charge subscription fees.
Notably, Inc. 500 ranked this firm 10th on its list of the fastest-growing private companies in the U.S. in 2017 - a five-spot jump from its 2016 ranking.
FormulaFolio Investments, LLC Background
Created in 2011, FormulaFolio Investments, LLC is the youngest firm on this list after Blue Water Asset Management, LLC, which was founded in 2015. The principal owner of this independent firm is founder and chief investment strategist Jason Wenk. Wenk also owns another firm on this list, Retirement Wealth Advisors, Inc.
FormulaFolio’s services are completely customizable and chosen for each client depending on their specific financial needs. The firm handles investment management, retirement planning, individual employer-sponsored retirement plan management and tax management.
FormulaFolio Investments, LLC Investing Strategy
FormulaFolio’s investment ideology is based on “emotion-free, proven investment formulas” that its advisors have built through academic research. The firm says that its algorithms will incorporate your financial and investment goals, risk tolerance and current tax situation to ensure your needs are met by your designated time horizon.
Once a formula has been built and agreed upon both by you and your advisor, the firm begins a three-step secondary process. The first step is deciding on asset allocations, followed by choosing a money manager and then by the ongoing management of your portfolio. These secondary steps are intended to add a personal touch to a portfolio-building process largely driven by formulas.
Retirement Wealth Advisors, Inc.
Retirement Wealth Advisors, Inc. is a fee-based financial advisor firm that connects clients to its large network of 194 financial advisors. The firm’s typical clients include individuals, businesses, trusts, estates, charitable organizations and pension and profit-sharing plans. You must have at least $25,000 in investable assets to open an advisory relationship with this firm.
Certain advisors may earn commissions from the sale of insurance policies. However, the firm is a fiduciary, meaning its advisors are required by law to act in your best financial interest.
Retirement Wealth Advisors, Inc. Background
Founder and president Jason Wenk established Retirement Wealth Advisors, Inc. in 2005. Wenk is also the founder, principal owner and chief investment strategist for the top firm on this list, FormulaFolio Investments, LLC.
As its name indicates, Retirement Wealth Advisors is heavily focused on retirement. The firm offers retirement planning for impending retirement and income planning for those who are already retired. The firm offers other types of financial services, as well, such as estate planning, trust creation and tax minimization.
Retirement Wealth Advisors, Inc. Client Experience
Your relationship with Retirement Wealth Advisors, Inc. will begin with an opening consultation, during which the firm will ask you about your current and desired financial circumstances, liquidity needs and risk tolerance. A portfolio is then built for you based on your preferences and needs. The firm primarily uses investments like stocks, exchange-traded funds (ETFs), bonds and mutual funds. Through these investing opportunities, the firm seeks to have your funds globally diversified to help mitigate risk.
Because the firm believes that managing an existing portfolio is just as important as the process of building a new portfolio, its advisors value rebalancing. This is done both to ensure that your asset allocations remain within target, and so that any new investment strategies can be implemented as quickly as possible.
Grand Wealth Management, LLC
The advisory staff at Grand Wealth Management, LLC has the most certifications of any firm on this list, with a total of eight. These include three certified financial planners (CFPs), one certified investment management analyst (CIMA), one accredited investment fiduciary (AIF), one certified public accountant (CPA), one personal financial specialist (PFS) and one certified employee benefit specialist (CEBS).
This fee-only firm also has the highest account minimum on this list. Grand Wealth Management requires $1 million in investable assets to open an account. Likely because of this fact, its advisors manage more than double the number high-net-worth individuals than individuals. The firm’s typical clients include individuals and their families, professionals, executives, business owners and retirees.
Grand Wealth Management, LLC Background
Founded in 2004, Grand Wealth Management, LLC is independently owned by the firm’s top three advisors: managing principal Jeffrey Williams and principals Ellen Winter and Steven Starnes. The team of advisors at this firm has accrued, on average, more than 26 years in the financial management industry.
Grand Wealth Management believes that the comprehensive management of your wealth is the best way to help you achieve your financial goals. The firm offers the following services:
- Investment management
- Estate planning
- Retirement planning
- Risk management
- Education planning
- Charitable planning
- Tax planning and minimization
Grand Wealth Management, LLC Investing Strategy
Grand Wealth Management says it bases its investment strategy solely on objective facts determined through peer-reviewed studies and other types of academic financial studies. The firm claims that this has taught its advisors to not to involve emotions and trends in their investment choices.
The firm primarily invests its clients’ assets in ETFs, other index funds and mutual funds to minimize risk for even the most risk-averse investor. Notably, the firm avoids using all personal securities and actively managed funds in its client portfolios.
Blue Water Asset Management, LLC
Blue Water Asset Management, LLC is the only firm on this list that does not require a specific amount of investable assets to open an account. For every high-net-worth individual the firm serves, it works with almost seven individuals. Although Blue Water Asset Management primarily serves individuals, it also works with banks, pooled investment vehicles, investment companies, pension and profit-sharing plan providers, charitable organizations, state and municipal government entities, insurance firms and other investment advisors.
Because this firm is fee-based, its advisors may earn commissions from trading certain securities in your account and from selling insurance policies. Don’t forget that the firm is bound by fiduciary duty though, legally requiring it to act in your best interest.
Blue Water Asset Management, LLC Background
Blue Water Asset Management, LLC was founded in 2015, making it the youngest firm on this list. Although the firm was formed just a few years ago, its advisors have spent an average of 28 years in finance. Blue Water Asset Management is principally owned by managing member Mark Redfield and chief compliance officer Jay Greer.
Blue Water has a unique structure, in that it’s essentially a co-op of four financial advisor firms that work together so each can provide their strengths to the right clients. These firms include Jay Greer & Co., Redfield Financial Group, Stites Financial, LLC and Capital Income Consultants.
As a whole, Blue Water offers a broad array of advisory services, including wealth management, financial planning, investment consulting and pension consulting for plan sponsors and beneficiaries. More distinct choices regarding the management of your assets will be made once you’ve made your ultimate financial goals clear.
Blue Water Asset Management, LLC Investing Strategy
Blue Water Asset Management incorporates modern portfolio theory into all of its investing decisions.
For those not familiar with this ideology, it focuses on striking a balance between risk and return, with the stipulation that higher levels of risk should only be accepted if there is a proportionate potential for return.
Blue Water Asset Management utilizes many different types of investments when enacting these principles, like money market funds, stocks, bonds, certificates of deposit (CDs), municipal securities, exchange-traded funds (ETFs), mutual funds, variable annuities, real estate investment trusts (REITs), options, warrants and limited partnerships.
Voisard Asset Management Group
Each member of Voisard Asset Management Group’s three-person financial advisor team is a certified financial planner (CFP). It’s the only firm on this list that can claim that distinction.
To open an account with Voisard Asset Management Group, you’ll need at least $250,000. This fee-only firm typically serves individuals (both those with high net worths and otherwise), trusts, estates, charitable organizations, corporations and pension and profit-sharing plans. About three-quarters of its individual clients are non-high-net-worth individuals.
Voisard Asset Management Group Background
Voisard Asset Management Group’s principal owner is company president Douglas Voisard, who founded the firm in 2002. Although Voisard is the most senior firm on this list, its advisors average just 11 years in personal finance.
Whether you need financial help with a specific area or simply want to invest your assets, this firm likely has a relevant service. Its extensive list of offerings are as follows:
- Cash flow planning
- Retirement planning
- Estate planning
- Investment management
- Death/disability financial review
- Insurance analysis
- Tax management
Voisard Asset Management Group Investing Strategy
Voisard Asset Management Group prioritizes determining the appropriate asset allocations for its client portfolios. In general, the firm says that it uses securities, fixed income, cash, mutual funds and ETFs.
Voisard Asset Management Group utilizes five investment strategies: short-term purchases, long-term purchases, options, margin transactions and short sales. Although the firm says it focuses on long-term growth, it also attempts to take advantage of market conditions. This is not only done to satisfy clients’ liquidity needs, but also to make gains that can then open up more potential investment opportunities.