Finding a Top Financial Advisor Firm in Indiana
Financial advisor firms typically have different specialties and investment philosophies. To help you determine which firms fit your needs and which don’t, SmartAsset has come up with this list of Indiana’s top financial advisor firms. Below are each firm’s investing philosophies, fees, services and more, affording you a detailed look at what each firm can offer. For those who prefer a simpler search method, the SmartAsset financial advisor matching tool will automatically pair you with advisors in your area.
|Rank||Financial Advisor||Assets Managed||Minimum Assets||Financial Services||More Information|
|1||Oxford Financial Group, Ltd. Find an Advisor||$11,581,875,738||Varies|| || |
|2||Valeo Financial Advisors, LLC Find an Advisor||$3,344,771,964||None|| || |
|3||SYM Financial Find an Advisor||$2,413,268,897||None|| || |
|4||Everence Trust Company Find an Advisor||$1,662,934,000||$50,000|| || |
|5||Donaldson Capital Management, LLC Find an Advisor||$1,220,189,781||$500,000|| || |
|6||Bedel Financial Consulting, Inc. Find an Advisor||$1,209,923,371||Varies|| || |
|7||Windsor Group, Ltd. Find an Advisor||$1,192,992,160||Varies|| || |
|8||Axia Advisory Find an Advisor||$1,188,000,638||None|| || |
|9||Lakeside Wealth Management Group, LLC Find an Advisor||$932,089,000||None|| || |
|10||Phillips Financial Find an Advisor||$898,872,422|| |
No set minimum asset requirement; however, at least $50,000 is recommended.
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No set minimum asset requirement; however, at least $50,000 is recommended.
How We Found the Top Financial Advisor Firms in Indiana
Our SmartAdvisor personal finance experts only considered Indiana-based financial advisor firms registered with the U.S. Securities and Exchange Commission (SEC) for inclusion on this list. That’s because the SEC requires registered firms to abide fiduciary duty, forcing them to act in clients’ best interests. We removed from contention firms that didn’t manage individual accounts, didn’t offer financial planning or had any disciplinary issues were removed from contention. The firms that fit these stipulations are listed below, ordered from the most assets under management (AUM) to the least.
Oxford Financial Group
The Oxford Financial Group was founded by Jeffrey H. Thomasson more than 30 years ago, making this one of the longest-running firms on our list. It offers a wide variety of financial management services.
In addition, it serves as a fee-only financial advisory firm. So it doesn’t collect commissions for specific investment recommendations. This type of frame work can reduce potential conflicts of interests, since your advisor won’t be incentivized to make specific recommendations over others.
Today, the firm controls more than $11 billion in assets under management, which brings it to the top of our list.
The Oxford Financial Group Background
The Oxford Financial Group was established in 1985 as the brain child of Jeffrey H. Thomasson. Today, the firm employs more than 100 employees including more than a dozen investment advisers. Oxford operates offices in Indianapolis, Chicago, Cincinnati, Grand Rapids and Minneapolis.
The firm specializes in estate planning and multi-generational financial management. According to official documents it filed with the SEC, Oxford primarily works with high-net-worth individuals, pooled investment vehicles and profit-sharing plans.
The Oxford Financial Group Investing Strategy
Oxford cam help you build an investment portfolio tailored to your individual financial situation and investment goals. According to its website, its philosophy revolves around a “set of Core Principles and a conviction in the importance of a well-conceived Investment Policy Statement, appropriate diversification and a disciplined portfolio rebalancing program.”
When building these portfolios, the firm generally focuses on globally-diversified investments and third-party managers.
Valeo Financial Advisors, LLC
Valeo Financial Advisors, LLC is headquartered in Indianapolis and has the distinction of being our top financial advisor firm in Indianapolis as well. It manages nearly $2.5 billion in client assets, more than double the next closest firm on this list, Donaldson Capital Management, LLC. Even with this level of assets, the firm has no minimum account size.
The firm’s advisory staff is made up of 44 members, which dwarfs the advisory teams of rest of the firms below. The team includes 30 certified financial planners (CFPs), five certified public accountants (CPAs), four certified divorce financial analysts (CDFAs), three certified employee benefit specialists (CEBSs), two chartered financial analysts (CFAs), one chartered life underwriter (CLU), one accredited investment fiduciary (AIF) and one accredited asset management specialist (AAMS).
The fee-only firm has roughly 1,500 individual clients. More than 1,000 of those clients have a high net worth, giving its advisors ample experience working with this client type. Valeo also offers services for 401(k) plans, pension and profit-sharing plans, estates, trusts, businesses and charitable organizations.
Valeo Financial Advisors, LLC Background
Only three firms on this list are younger than Valeo Financial Advisors, LLC, which opened in 2003. Principal advisors John Trott, Richard Evans, John Wortman and Timothy Ginn wholly own the firm. The group averages more than 25 years in the financial services industry.
The services this firm offers include:
- Cash flow analysis
- Charitable giving
- Education fund creation
- Estate planning
- Retirement planning
- Tax minimization
- Investment management
- Insurance review
Valeo Financial Advisors, LLC Investing Strategy
While Valeo Financial Advisors abides by your financial goals, risk tolerance and time horizon when investing your assets, it simultaneously utilizes a varied investment class strategy. This essentially means that while the firm will always look to diversify your account, it may underweight or overweight specific asset classes if it believes that to be in your best interest.
Typically the firm invests in equities, fixed income, commodities, hedge funds, managed futures, master limited partnerships, pooled investment vehicles, venture capital and options. Pooled investments are utilized by this firm to afford clients the opportunity to invest in otherwise unreachable opportunities by combining their invested assets.
SYM Financial is an SEC-registered firm that has been doing business since 1985, making it one of the oldest firms on this list. It provides a diverse range of individual financial management services from cash-flow projection to saving for retirement and even health care expenses.
It also holds more than $2 billion in assets under management.
SYM Financial Background
SYM first opened its doors to the Indiana community in 1985. Today, it acts as a full-service form providing services all around wealth management. Working with SYM, you’d have access to advice on the following topics if you need it.
- Tax and cash flow management
- Investment guidance
- Insurance policy review and consulting
- Estate planning
In addition, the firm can work with you on specific projects of your choice.
SYM Investing Approach
SYM offers advice around any investments you may have including 401(k) plans, individual retirement accounts (IRAs), 529 plans and trust funds. The firm would consider several factors when delivering this advice including your time horizon, risk tolerance and financial needs.
However, SYM doesn’t build investment portfolios for its clients.
Everence Trust Company
Everence is a faith-based financial services organization that works with a diverse group of clients including individuals and charitable organizations. Most of its individual clients are non-high-net worth. The firm currently has more than $1 billion in assets under management.
The firm aims to build a holistic financial action plan for its clients. Depending on your situation, it can cover the following:
- Cash-flow planning
- Emergency planning
- Investment planning
- Retirement planning
- Charitable giving
- Estate management
- Tax protection
Everence has been in business since 2001. It provides financial planning and individual portfolio management services to individuals and organizations. The fee-based firm is owned by Everence Holdings, Inc.
Everence Investment Approach
Everence can help you construct an investment portfolio based on your financial situation and goals. Depending on your position, it may invest in the following:
- Exchange-listed securities
- Securities traded over-the-counter
- Corporate debt securities (other than commercial paper)
- Certificates of deposit
- Municipal securities
- Variable life insurance
- Variable annuities
- Mutual fund shares
- United States governmental securities
- Interests in partnerships investing in real estate
- Mortgage-backed and asset-backed securities
In addition, you can invest in one of the firm’s model portfolios. Each one is built for a specific risk level. They are the following: fixed-income model, ultra conservative, conservative, moderate conservative, moderate, moderate aggressive and aggressive.
Donaldson Capital Management, LLC
Evansville is the headquarters of Donaldson Capital Management, LLC. It is a fee-only firm that serves the financial planning and investment management needs of individuals (both high-net-worth and not), trusts, estates, pension and profit-sharing plans, charitable organizations, corporations and businesses.
You must have at least $500,000 in investable assets to begin a client relationship with this firm, tying it for the second-highest minimum on this list. At this firm, you’ll find five certified financial planners (CFPs), one certified public accountant (CPA), one chartered financial analyst (CFA) and one chartered retirement plans specialist (CRPS).
The Financial Times has named Donaldson Capital a top 300 financial advisor in the U.S. as recently as 2016.
Donaldson Capital Management, LLC Background
Chairman and director of portfolio strategy Gregory Donaldson founded Donaldson Capital Management, LLC in 1995. Donaldson now shares ownership of the firm with Michael Hull, its president. The duo has spent a combined 64 years in the financial services industry, including 43 years for Donaldson alone.
This firm doesn’t have a typical list of financial planning services. Instead, it focuses on listening to the individual needs of each client and building an investment plan around them.
Donaldson Capital Management, LLC Investing Strategy
Conservative investing is the central focus of Donaldson Capital Management, LLC. This approach has led the firm to target long-term financial gain for its clients. However, the firm does realize that most clients will require some level of liquidity in their accounts, so some short-term investing is also included.
To meet its own standards for success, this firm attempts to hit three essential benchmarks: security, income and growth. These refer to the long-term preservation of capital, generous and dependable income now and in the future and the growth of income at a rate faster than inflation.
Bedel Financial Consulting, Inc.
The fee-only financial advisor firm Bedel Financial Consulting, Inc. works with individuals, trusts, estates, charitable organizations and other institutions. It also typically manages the financial needs of families, making its approach a bit more holistic than some of the other firms on this list.
While there is no set minimum account size required, this firm does call for a minimum annual fee of $5,000. Ultimately, this works out to be a $477,000 account minimum. When it comes to advisor certifications, this firm’s team of 12 advisors includes six certified financial planners (CFPs).
Bedel is located in Indianapolis. It is the fourth-ranked firm on SmartAsset’s list of the top financial advisors in Indianapolis.
Bedel Financial Consulting, Inc. Background
CEO, president and founder Elaine Bedel established Bedel Consulting, Inc. in 1989. However, she has been in investment management for nearly 40 years. She has received numerous professional awards and titles, including 2016’s Woman Business Owner of the Year by the National Association for Women Business Owners, as well as the honor of being named one of Financial Times’ top 300 RIAs in 2014 and 2016.
This firm says that it prefers not to be bogged down by the restraints of a defined set of financial planning services. With that being said, its most commonly provided services include:
- Retirement planning
- Estate planning
- Income tax planning
- Insurance needs analysis
- Family business planning
- Charitable gift planning
- Education funding
Bedel Financial Consulting, Inc. Investing Strategy
To build your portfolio, Bedel Financial Consulting uses a distinct strategy that combines the specializations of both financial planners and investment managers. The firm believes that this helps to set it apart from its competitors, as this provides clients with as complete and diversified a financial management portfolio as possible.
To ensure that all client portfolios are diversified appropriately, Bedel Financial Consulting, Inc. utilizes the following investment types: exchange-traded funds (ETFs), real estate investment trusts (REITs), exchange-listed securities, U.S. government securities, mutual funds, insurance products, municipal securities, warrants, corporate debt securities, certificates of deposit (CDs) and more.
Windsor Group, Ltd.
Windsor Group, Ltd. is yet another firm based in Indianapolis. It occupies the fifth spot on SmartAsset’s list of the top financial advisor firms in Indianapolis. Regardless of the amount of investable assets you possess, you’ll be able to open an account with this firm, as it does not have a set account minimum. The firm’s client base is mostly made up of individuals, though businesses, trusts, estates, charitable organizations and pension and profit-sharing plans remain common clientele.
You’ll find five certified financial planners (CFPs), four chartered financial analysts (CFAs) and one certified public accountant (CPA) in this firm’s offices. This fee-based firm has advisors that may offer you insurance policies. While advisors may earn commissions from sales, the firm abides by fiduciary duty and therefore must act in your best interest at all times.
Windsor Group, Ltd. Background
Randall Clark and Channing Mitzell co-founded Windsor Group, Ltd. back in 1986, making it the oldest firm on this list. They currently completely own the firm. The firm has a team of nine advisors that have spent an average of 30 years in financial management.
This firm claims its top overall priority is avoiding a “one-size-fits-all” financial management approach. The firm provides the following needs-based services for clients:
- Retirement planning
- Estate planning and wealth transfer
- Investment management
- Tax planning
- Insurance planning
- Business succession
- Custodial services
- Asset protection
Windsor Group, Ltd. Client Experience
Like most firms, Windsor Group, Ltd. immediately meets with new clients to discuss their financial objectives, time horizon, liquidity needs and, most importantly, risk tolerance. Based on these factors, an investment plan is drafted that usually consists of some diversified combination of exchange-traded funds (ETFs), common stocks, corporate and municipal bonds and commercial paper.
Once this plan has been implemented, the firm will attempt to keep in frequent contact with you. You’ll receive reports at least every quarter from your advisor. These check-ins are meant to update you as to the current size of the account, if it needs to be rebalanced and, if so, by how much.
Axia Advisory is an SEC-registered firm most known for working with corporate retirement plan sponsors. However, it also provides investment management consulting to individuals. Its individual client base consists of mostly high-net-worth individuals. Minimum investments will vary depending on what type of services you get, however.
The firm currently generates more than $1 billion in assets under management.
Axia Advisory Background
Axia has been doing business since 1992, making it one of the longest-running firms on this list. The firm is currently owned by Keith L. Shadrick. Today, the firm offers retirement-plan consulting for businesses as well as investment consulting and private wealth management for individuals.
In addition, this fee-only firm serves as a fiduciary. Thus, it’s legally obligated to operate in your best interests at all times. Axia does not collect commissions or other types of revenue from mutual fund companies or similar organizations.
Axia Advisory Investment Approach
Axia offers portfolio management services on a discretionary and a non-discretionary basis. This means it can either build and manage an investment portfolio for you or make recommendations for you to consider on your account. Axia considers several factors when determining a right asset allocation for you.
In addition, Axia can provide private wealth management services. The firm can create a plan around your choice of financial advice from budgeting to retirement and estate planning.
Lakeside Wealth Management Group, LLC
The fee-only financial advisor firm Lakeside Wealth Management Group, LLC serves nearly 1,600 individual clients, most of whom do not possess a high net worth. The firm, based in Chesterton, also has services available for pension plans, corporations and charitable organizations, giving it a slightly shorter list of typical clientele than some of its peers. This firm does not require a minimum amount of investable assets to open an account.
No other firm on this list has as many typically unseen advisor certifications as Lakeside. The firm’s team includes 10 certified wealth strategists (CWSs), seven certified 401(k) professionals (C(k)Ps), six accredited investment fiduciaries (AIFs), two certified financial planners (CFPs), two qualified plan financial consultant (QPFCs), one chartered financial analyst (CFA), one accredited wealth management advisor (AWMA), one certified long-term care advisor (CLTC) and one chartered retirement plans specialist (CRPS).
Lakeside Wealth Management Group, LLC Background
CEO Mark Chamberlain and president Timothy Rice wholly own Lakeside Wealth Management Group, LLC. Its doors were opened for business in 2006.
Lakeside divides its services for individual and business clients, as it believes each has their own set of financial needs. As a result, individuals will find services for financial mapping, asset and risk management, retirement planning, tax and estate planning, life insurance and charitable gift planning. On the other hand, businesses and owners can choose from general consulting, retirement plan design, plan participant education, corporate risk management and small business succession planning.
Lakeside Wealth Management Group, LLC Investing Strategy
Cash, cash equivalents, equities, fixed income and alternative investments are Lakeside Wealth Management Group’s most frequently utilized investment types. The latter three may seem a bit broad, but the firm does that purposefully so it can more easily diversify clients’ assets.
Lakeside generally believes that the above asset classes are solid choices for any level of return a client might want. However, clients must remember that their risk tolerance, financial goals and time horizon ultimately decide how fast their account will grow, as these factors dictate how the firm actually builds a portfolio.
Located in Fort Wayne, fee-based financial advisor firm Phillips Financial holds the title of top firm on SmartAsset’s list of Fort Wayne’s top financial advisor firms. The firm’s team includes four certified financial planners (CFPs), two accredited investment fiduciaries (AIFs), one chartered life underwriter (CLU), one chartered financial consultant (ChFC), one certified public accountant (CPA) and one registered paraplanner (RP).
Phillips Financial’s client base is heavily made up of individual clients, though it also maintains relationships with businesses, other investment advisors, trusts, estates, charitable organizations, endowment funds and pension and profit-sharing plans. It requires no minimum account size for new clients.
Some advisors at this firm sell insurance policies. Should you purchase one, your advisor may earn a commission. The firm is an SEC-registered fiduciary, though, requiring it to act in your best interest.
Phillips Financial Background
Phillips Financial has been registered with the SEC as an RIA since 2004, though the firm has been in business for more than 50 years. Currently, CEO Richard Phillips, Jr. and COO Shannon Hardiek hold independent ownership of the firm.
Like Lakeside Wealth Management Group, LLC, Phillips has separate listings of financial service offerings for its business clients and its individual clients. Business clients can choose from employee benefit plan and retirement plan creation and management, general risk management and more. Individuals are afforded more specific financial planning programs, such as retirement planning, financial education, estate planning, pension consulting and cash flow planning.
Phillips Financial Investing Strategy
Phillips Financial continues to evolve its investment selection process as more research makes its way across its desk. However, the firm doesn’t believe in making any massive changes, as that could have a negative impact on portfolios and the rebalancing process, especially for non-liquid investments.
The firm typically invests its clients’ assets in exchange-traded funds (ETFs), mutual funds, bonds and certificates, although these won’t all end up in every portfolio. Instead, the firm places ETFs and mutual funds into passive portfolios at lower risk tolerance levels, while individual bonds and certificates are reserved almost exclusively for large portfolios.