Finding a Financial Advisor in Great Neck, New York
With so many financial advisors to choose from in Great Neck, New York, it can be difficult to narrow down your options. To help you through this process, we researched the firms in Great Neck to find the top choices available. Read on for important information about each firm, including their fees, investment strategies, minimums and more. Alternately, use our free advisor matching tool. It will connect you with up to three vetted advisors who serve your area.
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| Rank | Financial Advisor | Assets Managed | Minimum Assets | Financial Services | More Information |
|---|---|---|---|---|---|
| 1 |
Palumbo Wealth Management, LLC
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$230,140,486 | $500,000 |
|
Minimum Assets$500,000Financial Services
|
| 2 |
Kutz and Company, Inc.
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$85,748,250 | $100,000 |
|
Minimum Assets$100,000Financial Services
|
| 3 |
RGA Investment Advisors, LLC
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$74,868,049 | Varies based on account size |
|
Minimum AssetsVaries based on account sizeFinancial Services
|
| 4 |
C & C Financial Services, Inc.
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$51,970,000 | No set account minimum |
|
Minimum AssetsNo set account minimumFinancial Services
|
What We Use in Our Methodology
To find the top financial advisors in Great Neck, 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:
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AUMFirms with more total assets under management are ranked higher. -
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Individual Client CountFirms who serve more individual clients (as opposed to institutional clients) are ranked higher. -
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Clients Per AdvisorFirms with a lower ratio of clients per financial advisor are ranked higher. -
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Age of FirmFirms that have been in business longer 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.
Palumbo Wealth Management
First on our list is Palumbo Wealth Management, a fee-based firm that works with high-net-worth individuals. It comes as no surprise that Palumbo has the highest account minimum on this list: $500,000.
The Palumbo team includes one chartered financial analyst (CFA) and one certified financial planner (CFP).
In addition to advisory fees that the firm collects from clients, certain advisors can earn commissions from third-party companies for selling financial products and insurance in their separate capacities as representatives of those firms. This qualifies Palumbo as a fee-based firm. Despite the conflict of interest that commission-based compensation creates, Palumbo has a fiduciary duty to always act in its clients' best interests.
Palumbo Wealth Management Background
Palumbo Wealth Management was established in 2019 and became a registered investment advisor with the SEC the following year. Philip Palumbo, the firm's CEO and chief investment officer, owns the business. A certified financial planner, Philip Palumbo has spent over 20 years in the financial services industry.
The firm offers investment management, financial planning and independent manager recommendations. Palumbo's wealth management services bundle together the firm's investment management and financial planning services.
Palumbo Wealth Management Investment Strategy
The firm works with clients to develop an investor profile based on the client's risk tolerance, goals and overall financial situation. Palumbo then designs an investment strategy that may include the firm's internal investment management and/or the use of third-party managers.
Palumbo generally employs a long-term investing strategy reliant on the use of mutual funds, exchange-traded funds (ETFs), individual equities and bonds. While the firm prefers to hold assets for longer than a year, it may buy, sell or reallocate investments that have been held for under a year for the purpose of meeting a client's goal or respond to market conditions.
Kutz and Company
Kutz and Company, a fee-bsed firm, is next on our list. This mid-size firm has a $100,000 account minimum, though it may waive this requirement under certain circumstances. All of its current clients are individuals, a sliver of whom are high-net-worth individuals.
Most of the firm's revenue comes from advisory fees that are based on a percentage of a client's assets under management and hourly fees for financial planning. Some advisors do earn commissions for selling insurane products, which is a conflict of interest. Still, all must act in the best interest of the client when serving as an advisor. The firm has three certified public accountants (CPAs).
Kutz and Company Background
Kutz and Company was founded in 1995 by brothers Paul and Andrew Kutz, who are the principal owners of the firm to this day. Both are CPAs, while Paul Kutz also holds the CFP designation. As a result, the firm's advisory services are offered through Paul Kutz.
The firm provides comprehensive financial planning services for a set rate of $300 per hour. It also provides investment management services on a discretionary basis.
Kutz and Company Investment Strategy
Kutz and Company looks to meet the needs of its clients when constructing and evaluating portfolios. It does not stick to any particular method of analysis or strategy, instead choosing to evaluate on a purely case-by-case basis. In turn, the risk tolerance, financial goals and time horizon of each client all inform the portfolio creation process.
Kutz and Company does not evaluate individual securities, instead monitoring markets on a macro level. It utilizes certain mutual fund and exchange-traded fund screening services to help inform investment decisions. The firm strongly believes in diversification across asset classes and market sectors.
RGA Investment Advisors, LLC
RGA Investment Advisors is a fee-only firm, meaning the only way the firm makes money is through advisory fees, not commissions. The minimum account size is varies based on the type of account you open.
The firm does not list any financial certifications on its website.
Clients are mostly individuals, most of whom do not have a high-net-worth. The only institutional clients at the firm are pooled investment vehicles.
RGA Investment Advisors Background
The firm was founded in 2009 and is principally owned by Jason Gilbert and Elliot Turner.
Services include investment advisory services, financial planning services, cash management, retirement planning, estate planning and asset protection.
RGA Investment Advisors Investment Strategy
Around two-thirds of the money invested at RGA is put into stocks. The rest is split between pooled investment vehicles, mutual funds and cash holdings.
C & C Financial Services
Last on our Great Neck list is C & C Financial Services. This firm has one advisor who mainly works with individuals (both with and without high net worths), though it also maintains relationships with a handful of pensions, profit-sharing plans, charities and businesses.
There is no specific minimum balance needed to open an account. The fee-only firm does not have a website.
C & C Financial Services Background
C & C Financial Services was incorporated in 2007, but its predecessor company, Cummings & Carroll, P.C. can trace its history back to 1973. Today, Richard Birnbach and Joseph Milazzo are the firm's principal owners. Birnbach, who serves as the firm's president, is a certified public accountant (CPA) and certified financial planner (CFP). He has over 50 years of financial and accounting experience under his belt.
This firm provides discretionary and non-discretionary asset management services and traditional financial planning and consulting.
C & C Financial Services Investment Strategy
C & C Financial Services utilizes both fundamental and cyclical methods of analysis when evaluating securities as investments for client portfolios. The firm's investment strategies include (but are not limited to) long- and short-term purchases, trading, short sales, margin transactions and options trading.
The firm will work with clients to provide individualized investment management strategies. This involves doing a deep dive into each client's risk tolerance, time horizon, income needs, investment preferences and more.
