Finding a Top Financial Advisor Firm in Indianapolis, Indiana
Through hours of research into hundreds of firms, SmartAsset determined the top financial advisor firms in Indianapolis. Below, we detail what each firm offers and what sets it apart from its competitors. If you’re not sure how to choose, try our advisor pairing tool to find the ideal financial advisor who will help you reach your financial goals.
|Rank||Financial Advisor||Assets Managed||Minimum Assets||Financial Services||More Information|
|1||Valeo Financial Advisors, LLC Find an Advisor||$3,344,771,964||None|| || |
|2||Bedel Financial Consulting, Inc. Find an Advisor||$1,209,923,371||Varies|| || |
|3||Windsor Group, Ltd. Find an Advisor||$1,192,992,160||Varies|| || |
|4||Column Capital Advisors, LLC Find an Advisor||$843,009,866|| |
| || |
|5||Wallington Asset Management Find an Advisor||$707,517,142||$1,000,000|| || |
|6||Deerfield Financial Advisors Find an Advisor||$672,946,302|| |
No asset minimum but $2,500 minimum fee
| || |
No asset minimum but $2,500 minimum fee
|7||Thurston Springer Advisors Find an Advisor||$561,668,555||Varies|| || |
|8||Spectrum Management Group Find an Advisor||$548,660,473|| |
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|9||SBC Wealth Management Find an Advisor||$503,263,688|| |
$500,000 (none for financial planning)
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$500,000 (none for financial planning)
|10||Meridian Investment Advisors, Inc. Find an Advisor||$333,667,806|| |
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How We Found the Top Financial Advisor Firms in Indianapolis, Indiana
First, we only considered firms registered with the U.S. Securities and Exchange Commission (SEC) in the Indianapolis metro area. SEC-registered companies have a fiduciary duty to act in their clients’ best interest and must file paperwork each year with the commission to stay in good standing. We then narrowed those firms to those with no disclosures and made sure each firm had a current clean record. Firms lacking financial planners were cut as were those that do not manage individual accounts. Lastly, we ordered our list by most assets under management to least.
Valeo Financial Advisors
Valeo Financial Advisors tops our Indianapolis list as having the most assets under management at $3.3 billion. It employs 38 advisors and serves more than 1,100 clients.
This firm has no minimum account size. But if you have a net worth under $1.5 million and are subject to the $6,000 annual minimum fee, you’ll pay more than the 0.40% standard annual fee. Valeo is a fee-only company, which means your advisor will not sell you any products to earn a commission - this is a high standard to meet within the financial advisor world.
The firm also offers advisory services in conjunction with income tax and cash flow planning, risk management, estate planning, education funding and retirement planning all for one fee.
Valeo Financial Advisors Background
The company was founded in in 2003 as a fee-only firm. Valeo has offices in both Indianapolis and Ann Arbor, Michigan. It serves clients in more than 40 states.
Valeo is owned and managed by members John C. Trott, John T. Wortman, P. Richard Evans and Timothy A. Ginn. All four primary owners are certified financial planners (CFPs). Ginn is also a non-practicing certified public accountant (CPA).
Valeo Financial Advisors Investment Philosophy
Your portfolio will be built based on your stated objectives. This includes risk tolerance, cash planning and more. The allocation of your assets is guided by your initial advisor consultations.
The overarching strategy at Valeo is strategic asset allocation with tactical asset-class adjustments. This means when there’s an opportunity to underweight or overweight a certain asset class, your advisor will deviate from a neutral allocation to take advantage of the situation.
The company typically invests in no-load mutual funds. No-load generally means that no commissions or sales charges are incurred when shares are sold. This means you can potentially save more on your investment earnings.
Each portfolio will have a different makeup as each is tailored to specific client goals and needs. This means your assets could be invested in equity, fixed income, commodities, hedge funds, managed futures, margin transactions, master limited partnership, pooled investment vehicles, short sale, timber venture capital, real estate partnerships and options purchasing.
Bedel Financial Consulting
Bedel Financial Consulting is the only firm on our list founded by a woman. The firm earned recognition as one of the top 25 women-owned registered investment advisors in the U.S., according to wealthmanagement.com.
With 12 advisors at the firm, the fee-only company is medium in size and has been operating longer than most of the companies on this list. The company is also the only firm on the list to feature a program exclusively for 25- to 40-year-olds focused on wealth accumulation.
The firm generally doesn't require a minimum investment to open an account.
However, investors with accounts under $500,000 will likely be charged a higher annual fee rate than 1.05%, the standard rate for accounts $500,000 to $1 million at Bedel. The firm charges a $5,000 minimum annual fee.
Bedel Financial Consulting Background
Elaine Kops-Bedel started the company in 1989 and has served as the owner, CEO and president since its inception. She has a mathematics degree and an MBA and is a certified financial planner (CFP). Kops-Bedel has worked in the financial planning industry since 1979. In 2017, Kops-Bedel stepped away from daily operations at the firm to serve as the president of the Indiana Economic Development Corporation (IEDC), a company with a mission to elevate the economic health of the state.
Evan Bedel, CFP and graduate of Wittenberg University and Texas Tech, is the firm’s director of finance and strategy. Bedel also employs three chartered financial analysts (CFAs).
The company has eight employees who are CFPs, accounting for one of the biggest conentrations of such professionals on our list.
Bedel Financial Consulting Investment Philosophy
At Bedel, your advisor will help you determine what focus you want to aim for with your investment portfolio. The firm could guide you through retirement planning. And it cen help you save for your child's future college education through investments like a 529 plan. Whatever your focus, your advisor at Bedel will help you clarify the details to achieve your financial goals.
The company uses three common types of analysis when evaluating securities: fundamental, technical and quantitative. This means the firm researches what to invest in by analyzing annual reports and prospectuses, financial publications, third-party due diligence platforms, press releases and more. Bedel Financial Consulting generally recommends mutual funds for your investment account.
This is another company that has no established minimum account size; however, minimum fees do apply here as well.
Windsor Group is the of the longest-running companies on our list and its staff accounts for more than a century in combined experience. It currently serves more than 790 clients.
The company employs five certified financial planners (CFPs) and four chartered financial analysts (CFAs).
Windsor Group Background
Randall Clark and Channing Mitzell formed the company more than 30 years ago and continue to serve as managing principals. Each owns more than 25% equity in the firm. The minority shareholders of the firm are also members. These are Brian T. Shupe and Frank J. and Esposito, Jr.
There are no indirect owners or intermediaries with any ownership or interests in Windsor.
Windsor Group Portfolio Management
As a client of Windsor Group’s portfolio management team, you’ll be walked through a process that the company uses for most clients. The first phase is policy review and counseling. You’ll work with financial advisors and planners to create your personal investment statement that aligns with your goals.
Next, is investment management. This is where your advisors create a strategy with multiple funds in order to reduce your risk and capitalize on gains. Your portfolio is monitored and new opportunities are sought out to keep your portfolio on the path to reach your investment goals.
Phase three is monitoring and reporting. This is the evaluation process that helps set benchmarks to measure your performance against. You’ll receive custom reports to keep you abreast of the situation. Phase four is rebalancing. This is the ongoing process of adjusting your portfolio to maximize success.
Column Capital Advisors
With $1 million as the minimum to open an account, Column Capital Advisors stands among the top of our list for highest minimum. That means it’s no surprise that the fee-only company has one of the highest percentages of high-net-worth clients on our list. Column Capital generally works with those with a net worth of $2 to $25 million.
20 investment advisors on staff account for about 300 accounts.
Column Capital Advisors Background
Column Capital formed in 2005. It is owned by Column Capital Group holding company, which is owned by Brian Upchurch, president of the firm. Co-owners include executive directors Kevin Sweet Jeffrey Yu.
Upchurch has worked in the industry since 1987 and has a law degree. He’s a certified public accountant (CPA) and is a member of the chartered institute of management accountants (CIMA).
Sweet is a CFP, member of CIMA and has worked in the industry since 1995. Yu is a CFP, CPA and has worked in the industry since 1985.
With all the CPA experience, it makes sense that this firm highlights tax services as one of its client offerings. Column Family Office, part of the firm, provides tax services to high-net-worth individuals and families.
Column Capital Advisors Investing Philosophy
The advisors at Column Capital use the Nobel Prize-winning investment strategy called Modern Portfolio Theory. This theory helps investors classify, estimate and control risk and return. Most robo-advisors such as Wealthfront and Betterment use this theory when creating investment algorithms.
Column Capital will diversify your assets to lower risk and will generally use mutual funds and ETFs to build your portfolio. The company invests for the long term and tries to minimize portfolio turnover and trading/transaction costs. However, the firm will manage your portfolio in alignment with your financial goals and objectives, which means short-term purchases are on the table if the investment meets one of your financial objectives.
Wallington Asset Management
Along with Column Capital Advisors and Spectrum Management Group, Wallington requires among the highest minimum investments to open an account. But unlike Column Capital, the firm’s percentage of high-net-worth clients is in the 51% to 75% range, rather than 75% to 99%. This means the majority of clients are high-net-worth, but not the entire client base.
The company has just seven advisors compared to Column Capital’s 20, but has about the same number of accounts, in the 300s.
Wallington Asset Management offers services to individuals, pension and profit-sharing plans, trusts, estates, charitable organizations and corporations.
Wallington Asset Management Background
In 1988, Terence Weiss founded the company. Wallington has provided investment advisory services since. In 2007, the company became a limited liability company (LLC). Weiss is still the principal owner of the firm. He also serves as president of the firm. He has an MBA from Indiana University and more than 40 years of experience in the financial industry.
Jeffrey Dowden is the executive vice president of the firm and senior portfolio manager. He has a chartered financial analyst (CFA) certification and has worked in the financial industry since 1989.
Certifications across the company include two certified public accountants (CPAs), one certified financial planner (CFP) and two chartered financial analysts (CFAs).
Wallington Asset Management Investing Philosophy
Each client can expect a tailored investment plan based on the financial goals and needs discussing during initial consultation. That means your cash flow needs, expected rates of return, risk tolerance and time horizon are taken into account when developing your portfolio’s allocations.
Generally, your advisor will diversify across asset classes such as equities and fixed income, and adjust as necessary to meet your goals. The company aims to achieve a return that exceeds your benchmark through a long-term investment approach in high-quality securities, Wallington Asset uses a variety of analysis types when evaluating securities, including fundamental, cyclical, technical and charting.
Deerfield Financial Advisors
Deerfield Financial Advisors is another Indianapolis-based, fee-only advisory firm with no hard minimum asset requirement. That said, a majority of the firm’s clients are high-net-worth individuals. This generally means a net worth of about $1.5 million or more.
The firm has just five advisors, which ties it with No. 10 on our list, SBC Wealth Management, for smallest size. However, Deerfield does have more than 300 clients, putting it in the same range as Column Capital Advisors and Wallington Asset Management.
Individuals, pension and profit-sharing plans, trusts and estates and corporations or business entities are the typical types clients that work with this company.
Deerfield Financial Advisors Background
Dick Bellmer, a certified financial planner (CFP), founded the company in 1985. He now serves on the board of directors.
The company is now owned by three of the employees: Susan Steel, director, president and chief compliance officer; Bradley Cougill, director, vice president; and chief investment officer, and Benjamin Hockema, director and vice president.
Deerfield has two offices, one in Indianapolis and the other in Park Ridge, Illinois. The company serves clients in 26 states.
Deerfield Financial Advisors Advisors Investing Philosophy
The company uses an internal investment committee to perform analysis and to review investment performance. The main method that Deerfield uses is fundamental analysis. This type of analysis looks at the intrinsic value of investments by examining aspects such as economic, financial and qualitative/quantitative factors to help determine the actual value of the security. Fundamental analysis is holistic and generally considered the opposite of technical analysis, which looks at past market activity such as prices and volume.
Your portfolio’s construction is based on your financial goals and long-term investing. Most accounts will have ETFs and mutual funds and your advisor will minimize transaction fees and tax ramifications when possible. The company bases its philosophy of the assumption that markets work and that diversifying across asset classes will help maximize returns and minimize risk.
Thurston Springer Advisors
Thurston Springer Advisors
Unlike most firms on our list, Thurston Springer Advisors primarily serves non-high-net-worth clients. In fact, this group accounts for the bulk or more than 90% of the firm’s current clientele. Nonetheless, it has more than $500 million in assets under management.
Thurston Springer provides a wealth of financial planning services that touch upon various subjects including portfolio management, estate and retirement planning, and multi-generational wealth management. You can also pass on 401(k) or trust account management toward advisors at Thurston.
Thurston Springer Advisors Background
Thurston Spring Advisors can trace its roots back to 1981. Back then, it was a broker-dealer that later became a registered investment advisor in 2004. Thurston Spring Advisors emerged as a new SEC-registered advisor in 2010.
The firm has more than a dozen advisors with plenty of experience in the financial space. Some have gone through rigorous training and examinations to earn licenses like Series 65 and Series 79.
Thurston Springer Advisors Resources
Thurston Springer Advisors deploys several strategies and methodologies when picking securities with an aim for maximum return. These may include tactical momentum, which is driven by seeking securities to outperform market benchmarks in rising market periods. It also aims to preserve as much capital as it can during market declines.
To open an account with the firm, you generally need a minimum investment of $25,000. The advisory engages in a wrap-fee program. Representatives of Thurston may also sell insurance products through Thurston Springer Financial or Thurston Springer Insurance. Some advisors may also receive commission through the sale of certain mutual funds. This may create a conflict of interest as the advisor may be incentivised to recommend such products. However, the firm works under a fiduciary duty and its own code of ethics, which you can access through the SEC website.
Spectrum Management Group
Formed in 2010, Spectrum Management Group (SMG) is one of the newest firms on the list. The company joins Wallington Asset Management and Column Capital as requiring that you have at least $1 million to become a client.
The company has five advisors and the smallest number of accounts out of any of the other firms on our top 10 list with less than 200 clients. Robert Phillips and Leslie Thompson are the principal owners of the firm.
SMG offers wealth management, including services such as cash flow and strategic tax planning; investment advisory services, which includes investment policy design; and tactical asset allocation and trust and family office services, which includes intergenerational wealth transfer strategies and strategic philanthropic planning.
Spectrum Management Group Process
As a client of SMG, you’d use the firm’s proprietary process called LifeSpectrum PlanningTM. This planning process starts with discovery, meaning that your team at SMG will discuss your financial goals, values and vision with you. That first step helps the team develop priorities for managing your financial future.
The next step is analyzing and evaluating solutions to find the best fit for your financial objectives. The outcome of this step is a road map and strategy that will guide how your assets are managed and that you’re making progress toward your specified goals. You’ll receive reports and meet with your advisors regularly.
Spectrum Management Group Investment Strategy
The company has its own proprietary investment strategies: dynamic core, SMG all cap and SMG dividend growth. Dynamic core adds exposure to risk assets such as equities and commodities during times of high probability of growth potential. The company uses cash as a hedge when there are periods with a high probability of decline. If your portfolio is subject to this strategy, your assets may be concentrated in specific asset classes rather than diversified.
SMG all cap is based on investing in around 30 high quality U.S. stocks. These stocks generally have a market cap greater than $1 billion and are projected to have strong sales and earnings growth. SMG uses technical analysis to determine which companies to invest in with a focus on relative strength.
SMG dividend growth strategy includes a diverse exposure to U.S. dividend paying stocks. Your advisor may choose this strategy if income is your financial focus. The objective is to increase annual income by choosing stocks with a favorable combination of valuation, profitability and technical merics.
SBC Wealth Management
SBC Wealth Management is one of three fee-based firms on this list. Fee-based means that the company doesn't make money from recommending insurance or other products. Instead, it collects flat fees for services rendered. Fee-only is the higher standard to meet among investment advisors. However, SBC also adheres to fiduciary standards, which means that your interests are required to come first.
You’ll need at least $500,000 to become a wealth management client, but financial planning clients do not have a minimum amount to meet. The company offers personal financial planning, investment advisory services, retirement and distribution planning and estate and legacy planning.
SBC Wealth Management Background
Scott Holley founded the business in 1983. Today, he still serves as CEO of the firm and has worked in the financial industry for more than 40 years. Patrick Morrow serves as the president and COO of the firm. He’s worked for SBC Wealth since 1987 and is part-owner of the company.
The firm's team includes one chartered financial consultant (ChFC) and one accredited wealth management advisor (AWMA).The company has six advisors on staff.
SBC Wealth Management Process
The firm uses a six-step process to create your financial strategy. First, you’ll define your objectives and lifestyle goals This means your time horizon (including your projected retirement date), your family’s needs and the level of risk you’re willing to take with your assets.
Step two is discovery. Your advisor will comb through your tax returns, assets, liabilities and other relevant financial material in order to become familiar with your financial situation. Next is the analysis of your objectives. Your advisor will help you create consistent and realistic financial goals. Step four is the creation of primary and contingency plans for each of your objectives. This includes considering taxes, timing and risk. When you reach step five, your plan will be implemented. Lastly, step six is periodic reviews: your plan will be reevaluated periodically to ensure that it stays on course.
Meridian Investment Advisors, Inc.
Meridian Investment Advisors, Inc., the final firm on our list of the top Indianapolis financial advisor firms, has more than $300 million in assets under management. The firm has three financial advisors on staff. Its wealth management consultant is a certified public accountant (CPA), but aside from that the firm’s staff does not hold any other advanced certifications, such as a certified financial planner (CFP) designation.
Meridian Investment Advisors mainly works with individuals, primarily non-high-net-worth investors. It serves just a small percentage of high-net-worth individuals. In addition, the firm can work with pension and profit-sharing plans, charitable organizations and corporations. Meridian generally requires a minimum portfolio size of $100,000.
This is a fee-based firm. Though its staff is primarily compensated through a salary and bonus structure, certain staff members are also registered representatives of a broker-dealer. They may earn sales, service or administrative fees from selling mutual funds or insurance products related to securities. However, because the firm is a fiduciary, it’s required to put its clients’ best interests before its own.
Meridian Investment Advisors, Inc. Background
Meridian Investment Advisors, Inc. was incorporated in 1984. The firm’s principal shareholders are president, CEO and director Patrick Burley and vice president, investment consultant and Vice President Michael Burley.
Meridian Investment Advisors' advisory services include individual portfolio management, pension consulting services and financial planning. The firm's financial planning services may encompass a broad range of areas, such as budgeting, family records, personal liability, estate planning, tax and cash flow issues, death and disability needs, retirement planning and investment review
Meridian Investment Advisors, Inc. Investing Approach
Meridian Investment Advisors says it develops its investing strategies based on each client's needs and objectives. To provide comprehensive wealth management, the firm includes clients' accountants, attorneys and any other relevant professionals in the process.
Meridian Investment Advisors' investment philosophy is based on a combination of four key components: asset allocation, portfolio structure, specialist management and portfolio management. The firm’s primary method of analyzing investments is modern portfolio theory, which states that investors can reduce their portfolio's riskiness through diversification. The firm places an emphasis on keeping a portfolio's risk in line with specific benchmarks. Client assets are primarily allocated among independent managers.