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The Top Financial Advisors in Lancaster, PA

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Finding the Top Financial Advisor Firms in Lancaster, Pennsylvania

It cab be challenging to find a financial advisor in Lancaster, Pennsylvania. The search may involve a lot of phone calls and combing through documents filled with financial jargon. But don’t worry. We did the hard work for you. We conducted in-depth research, looking at such key factors as account minimums, services offered and advisor qualifications. Read on for the top seven financial advisor firms in the area. 

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Rank Financial Advisor Assets Managed Minimum Assets Financial Services More Information
1 Domani Wealth, LLC Domani Wealth, LLC logo Find an Advisor

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$1,382,457,588 $5,000 minimum annual fee
  • Financial planning
  • Portfolio management
  • Pension consulting
  • Selection of other advisers

Minimum Assets

$5,000 minimum annual fee

Financial Services

  • Financial planning
  • Portfolio management
  • Pension consulting
  • Selection of other advisers
2 RKL Wealth Management, LLC RKL Wealth Management, LLC logo Find an Advisor

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$1,227,188,258 $5,000 minimum annual fee
  • Financial planning
  • Portfolio management
  • Pension consulting
  • Selection of other advisers

Minimum Assets

$5,000 minimum annual fee

Financial Services

  • Financial planning
  • Portfolio management
  • Pension consulting
  • Selection of other advisers
3 Atwater Malick Atwater Malick logo Find an Advisor

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$311,021,341 $500,000
  • Financial planning
  • Portfolio management

Minimum Assets

$500,000

Financial Services

  • Financial planning
  • Portfolio management

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4 PSI Capital Management PSI Capital Management logo Find an Advisor

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$222,563,678 Varies based on account type
  • Financial planning
  • Portfolio mangement
  • Pension consulting

Minimum Assets

Varies based on account type

Financial Services

  • Financial planning
  • Portfolio mangement
  • Pension consulting
5 Murray Wealth Management Murray Wealth Management logo Find an Advisor

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$133,422,000 $50,000
  • Financial planning
  • Portfolio management
  • Pension consulting
  • Selection of other advisors
  • Educational workshops
  • College planning

Minimum Assets

$50,000

Financial Services

  • Financial planning
  • Portfolio management
  • Pension consulting
  • Selection of other advisors
  • Educational workshops
  • College planning

What We Use in Our Methodology

To find the top financial advisors in Lancaster, 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 accurate as of the writing of this article. 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.

Domani Wealth

Domani Wealth, LLC

At the top of this list, Domani Wealth operates on a fee-only basis. This means it doesn’t collect compensation from third parties such as mutual fund or insurance companies for selling their products. It collects fees only for the services it provides directly to you. Domani Wealth typically doesn’t impose an asset minimum for investment advisory services. However, it may require a minimum fee of $5,000 for specific services. 

When you sign on with Domani Wealth, you have access to a range of personal finance and accounting professionals. The team features seven certified financial planners (CFPs), three accredited investment fiduciaries (AIFs), two chartered financial analyst (CFAs) and one certified trust and financial advisor (CTFA).

Domani Wealth Background

Through its predecessor entities, Domani Wealth has been active in the financial services space since 1995. However, it registered as an investment advisor with the SEC under its current organization in 2015. Domani Wealth is primarily owned by Hawthorne Wealth Management Holdings, LLC.

The firm works with individuals, high-net-worth individuals, businesses, trusts, charitable organizations and other clients. It can tailor a wealth management plan to your needs. But it specializes in the following focus areas: 

  • Estate and wealth transfer management
  • Retirement planning
  • Philanthropy
  • Strategic tax management
  • Investment management
  • Trust and foundation services
  • Retirement plans for businesses

Domani Wealth Investment Strategy 

Domani Wealth aims to create diversified portfolios according to the client’s individual circumstances. So advisors will analyze your risk tolerance, investment goals, time horizon and other factors that may influence your asset allocation. In managing your portfolio, the firm may engage in the following:

  • Long-term purchases (securities held at least a year)
  • Margin transactions (use of borrowed assets to purchase financial instruments)
  • Individual equities/hedging (in the event that a client transfers in or directs the purchaseof a concentrated individual equity position, the advisor may utilize protective options to hedge against downside risk)

RKL Wealth Management

RKL Wealth Management, LLC

RKL Wealth Management is a fee-only firm that works with various client types, including individuals and institutions. The firm doesn’t require a minimum investment to open an account. However, it imposes a minimum annual asset-based fee of $5,000.

Advisors at this firm boasts a number of designations. These include certified financial planner (CFP), certified public accountant (CPA), chartered life underwriter (CLU), chartered financial analyst (CFA), chartered financial consultant (ChFC) and chartered alternative investments analyst (CAIA).

RKL Wealth Management Background

RKL Wealth Management has been active in the industry since 1999. Today, it is a wholly-owned subsidiary of RKL LLP, a regional certified public accounting firm.

The firm extends its services to individuals, businesses, trusts, estates, charities and corporate retirement plans. RKL provides families and individuals with various stand-alone financial planning services from investment planning to insurance review as well as trust and fiduciary services. 

RKL Wealth Management Investing Strategy

RKL Wealth Management seeks to construct portfolios based on the client’s individual financial situation and objectives. To diversify your portfolio, the firm may invest your assets in the following securities if deemed appropriate:

The firm may also utilize the services of separate account managers or sub-advisors to manage part or all of your portfolio. This may be the case if you have a particularly large asset base.

Atwater Malick

Atwater Malick

At fee-only Atwater Malick (AM), the team includes one certified financial planner (CFP) and one chartered financial analyst (CFA). To open an account with this firm, you’d generally need a minimum investment of $500,000. However, the firm may be willing to lower this requirement in certain situations.

According to the firm’s most recent SEC filings, AM serves about as many high-net-worth individuals as it does people who don't have a high net worth. It also extends its services to businesses, retirement plans and charities.

Atwater Malick Background

Ben Atwater and Matt Malick founded Atwater Malick in 2008. Both remain principal owners to this day.

The firm works with individuals, high-net-worth individuals, trusts, estates, charities and corporations. AM provides investment management services as well as various financial planning offerings. You can approach the firm for guidance around life insurance, divorce, tax concerns, retirement planning and more. 

Atwater Malick Investment Strategy 

Atwater Malick primarily relies on its clients' investor profiles when building diversified portfolios and making investment decisions. It aims to design asset allocation models based on factors like the client’s long-term investment goals. AM notes that it “utilizes investment strategies that are designed to capture market rates of both return and risk.”

The firm also discourages frequent trading, which can affect investment performance through increased brokerage and other transactional costs, as well as taxes. Instead, AM trends toward using a buy-and-hold investment strategy.

PSI Capital Management

PSI Capital Management

PSI Capital Management, formerly known as Planning Strategies, Inc., is fee-based firm. This means some advisors may earn commissions from insurance sales, which is a potential conflict of interest. That said, advisors must always act in the best interest of the client due to their fiduciary duty.

Account minimums to receive investment management services at PSI vary based on the portfolio program you choose. But the minimum generally ranges from $100,000 to $200,000. The firm may waive its minimum requirements for certain clients. 

The team here features two chartered financial analysts (CFAs), two chartered financial consultants (ChFCs), one chartered life underwriter (CLU) and two retirement income certified professionals (RICPs).

PSI Capital Management Background

PSI Capital Management has been in business since 2001. The majority owners of the firm are Steven Mitchell, Scott Smith and Gregory Staub. All still work for the firm at managing partners.

PSI Capital offers financial planning, consulting, pension consulting and investment management services. It currently works mostly with high-net-worth individuals. In addition, the team specializes in financial planning services for families with disabilities. It can also help clients manage foundations and other charitable entities.

PSI Capital Management Investing Strategy

PSI Capital Management employs what it calls Paradigm Shift Investing. According to its website, “Paradigm Shift Investing is a process in which we marry financial planning and investment management together.  We do this because the two go hand-in-hand and are so closely intertwined.”

In meeting these goals and managing diversified portfolios, the firm may work with clients and other financial professionals. These can include accountants, attorneys, mortgage brokers and insurance agents.

Murray Wealth Management

Murray Wealth Management

Murray Wealth Management is a fee-based advisory firm. This means certain on-staff advisors can receive commissions from insurance sales. Despite this, the firm is legally bound to act in clients' best interests due to its fiduciary duty.

To receive investment advisory services, you generally need a minimum investment of $50,000, though account minimums may vary for some third-party managers. The firm mainly works with individuals who do not have a high net worth. It also works with pension and profit-sharing plans.

Murray Wealth Management Background 

Murray Wealth Management has been providing investment advisory services since 2012. The firm is primarily owned by Murray Insurance Associates, Inc. The firm’s team boasts a handful of advisory certifications.

This firm specializes in wealth management, risk management and insurance. It can also advise businesses on healthcare benefits and third-party administration.

Murray Wealth Management Investment Strategy 

Through its Efficient Portfolios Program, the firm generally invests client assets across exchange-traded funds (ETFs) and no-load mutual funds. It aims to create globally diversified portfolios to meet client needs. However, some of its portfolios that utilize third-party managers may invest in alternative investments in order to hedge against potential volatility in the stock and bond markets. The firm notes that “there is no requirement that clients use the Efficient Portfolios with alternative asset classes and clients are encouraged to discuss with Murray Securus the pros and cons of doing so.”

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.

Least
Most
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