Finding the Top Financial Advisor Firms in Lancaster, PA
It may be challenging to find a financial advisor in Lancaster, Pennsylvania. The search can involve a lot of phone calls and research into complex documents filled with financial jargon. But don’t worry. We did the hard work for you. We conducted in-depth research on such key factors as account minimums, services offered and the qualifications of the advisors they employ. Read on for the top seven financial advisor firms in the area.
|Rank||Financial Advisor||Assets Managed||Minimum Assets||Financial Services||More Information|
|1||Domani Wealth, LLC. Find an Advisor||$1,071,554,102||No set account minimum|| || |
Minimum AssetsNo set account minimum
|2||RKL Wealth Management, LLC. Find an Advisor||$1,003,706,704||Subject to negotiation|| || |
Minimum AssetsSubject to negotiation
|3||Ambassador Advisors, LLC. Find an Advisor||$501,970,937||No set account minimum|| || |
Minimum AssetsNo set account minimum
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|4||Atwater Malik, LLC Find an Advisor||$215,500,278||$500,000|| || |
|5||PSI Capital Management Find an Advisor||$171,609,547||$100,000 - $200,000|| || |
Minimum Assets$100,000 - $200,000
|6||EHD Advisory Services, Inc. Find an Advisor||$126,425,128||No set account minimum|| || |
Minimum AssetsNo set account minimum
|7||Murray Securus Wealth Management, LLC. Find an Advisor||$115,000,000||$50,000|| || |
How We Found the Top Financial Advisor Firms in Lancaster, PA
We began by compiling data on all financial advisor firms based in Lancaster and registered with the Securities Exchange Commission (SEC). We then removed firms that have faced disciplinary action within the past 10 years. We also eliminated advisory groups that did not provide financial planning or whose client base was less than 50% individual accounts. Finally, we ranked what was left on the list, from largest to smallest, based on assets under management.
Domani Wealth, LLC.
With more than $1 billion in assets under management, Domani Wealth finds itself on the top of the list. This firm 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 for specific services and yours may climb higher than the asset-based fees it imposes on different account sizes.
When you sign on with Domani Wealth, you have access to a range of personal finance and accounting professionals. The team features 11 certified financial planners (CFPs), six personal financial specialists (PFSes), three accredited investment fiduciaries (AIFs), one chartered financial analyst (CFA), one certified trust and financial advisor (CTFA) and one enrolled agent (EA) with the IRS.
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 name 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
- Strategic tax management
- Investment management
- Trust and foundation services
- Retirement plans for businesses
Domani Wealth Investment Strategy
Domani Wealth aims to create diversified portfolios that adhere to the client’s individual circumstances. So the advisors would 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, LLC.
RKL Wealth Management also manages more than $1 billion in assets. And like Domani Wealth, this fee-only advisory firm boasts a team that collectively makes up an alphabet soup of professional designations.
The team features six certified financial planners (CFPs), one chartered financial analyst (CFA), one chartered financial consultant (ChFA), one certified public accountant (CPA), one chartered advisor in philanthropy (CAP), one chartered advisor for senior living (CASL), one chartered life underwriter (CLU), one certified trust and financial advisor (CTFA), and one qualified 401(k) plan administrator (QKA).
The firm doesn’t require a minimum investment to open an account. However, it imposes a minimum annual asset-based fee of $5,000.
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 Investment Strategy
RKL 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:
- Mutual funds
- Exchange-traded funds (ETFs)
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.
Ambassador Advisors, LLC.
Ambassador Advisors has more than $500 million in assets under management. Its team collectively features four certified financial planners (CFPs), three chartered advisors in philanthropy (CAPs), one chartered financial analyst (CFA), one chartered financial consultant (ChFC), one chartered life underwriter (CLU), one Christian financial consultant and advisor (CFCA) and one certified kingdom advisor (CKA).
The fee-based firm doesn’t require a set account minimum for its services.
Ambassador Advisors Background
Ambassador Advisors has been in operation since 2002. Robert Kauffman, Adrian Young and Bernard Bostwick primarily own the firm, and all three still work for the firm.
Ambassador Advisors is a faith-driven financial advisory and investment management firm. Its mission statement states it exists to support and promote biblical stewardship through appropriate financial planning, estate planning and money management services for the benefit of nonprofits, charities, charities, individual donors and investors.
The firm provides financial planning and investment management services to a diverse clientele that’s mostly composed of individuals who are not high net worth. It specializes in tax-smart charitable giving, retirement planning and estate planning.
Ambassador Advisors Investment Strategy
Ambassador Advisors aims to build a strategically diverse portfolio to meet a client’s financial and charitable needs. It generally recommends individual securities, mutual funds and exchange-traded funds (ETFs). However, it notes that it may “recommend other types of investments as appropriate for you since each client has different needs and different tolerance for risk.”
Like several firms on this list, part of the firm’s securities evaluation strategy involves fundamental analysis. This entails studying the financials of different companies as well as the sectors they are in and overall economic conditions.
Atwater Malik, LLC
Despite having only two investment advisors, Atwater Malick (AM) has amassed more than $200 million in assets under management. Co-founder Matt Malik is a certified financial planner (CFP) and a chartered financial analyst (CFA).
To open an account with this fee-only firm, you’d generally need a minimum investment of $500,000.
Atwater Malik Background
Ben Atwater and Matt Malick founded the firm in 2008. Both remain principal owners. According to the firm’s most recent SEC filings, AM serves about as many high-net-worth individuals as it does people who are not high net worth. It also extends its services to about six businesses.
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 Malik Investment Strategy
The firm relies on Modern Portfolio Theory and other investing schools of thought 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.” It also discourages frequent trading, which can affect investment performance through increased brokerage and other transaction costs and taxes. Instead, AM trends toward using buy-and-hold investment strategy.
PSI Capital Management
PSI Capital Management, formerly known as Planning Strategies, Inc., is a financial advisory firm with more than $100 million in assets under management.
Account minimums to receive investment management services vary based on the portfolio program you choose. But the minimum generally ranges from $100,000 to $200,000. Individuals with less than $100,000 can receive only consulting services.
The team features two chartered financial analysts (CFAs), two chartered financial consultants (ChFCs), one chartered life underwriter (CLU) and one retirement income certified professional (RICP).
PSI Capital Management Background
PSI Capital 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. 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 Investment Strategy
PSI Capital deploys what it calls Paradigm Shift Investing. According to its website, “Paradigm Shift Investing is analyzing a client’s financial situation first, then using what is discovered to build an active, living, breathing financial plan that serves as a guide to drive all current and future financial and investment decisions.”
In meeting these goals and managing diversified portfolios, the firm may work with clients and other financial professionals, including accountants, attorneys, mortgage brokers and insurance agents.
EHD Advisory Services, Inc.
EHD Advisory Services is a fee-based firm with more than $100 million in assets under management. You generally don’t need a minimum investment to open an account with the firm. EHD's team boasts two certified financial planners (CFPs), one chartered financial analyst (CFA) and one accredited fiduciary investment manager (AFIM).
EHD Advisory Services Background
EHD has been offering investment advisory services since 2003. Kenneth Eshleman, Joyce Libby, Stephen Torrance, Richard Diem and Steven Maher own the firm. With the exception of Libby, all continue providing services at the firm.
The advisory works with individuals, high-net-worth individuals and organizations such as corporate retirement plans and foundations. That said, SEC records show most of its clientele is currently composed of non-high-net-worth individuals.
EHD can create a holistic, long-term financial plan based on your needs. But its staff specializes in the following areas:
- Financial planning
- Portfolio management
- Pension consulting
EHD Advisory Services Investment Strategy
EHD’s investing strategy is primarily driven by Chief Investment Officer Diem, who has more than 16 years of experience in portfolio management and investment research. The firm evaluates securities by turning to several sources such as data it buys from major firms like Morningstar, Advent and Standard & Poor’s. With this data, EHD compiles a spreadsheet it uses to create informal stock attractiveness ratings.
The firm generally invests client assets in mutual funds, exchange-traded funds (ETFs), individual securities and alternative investments as deemed appropriate based on the client’s financial profile and investment goals.
Murray Securus Wealth Management, LLC.
Murray Securus Wealth Management is a fee-based advisory firm with more than $100 million in assets under management. To receive investment advisory services, you’d generally need a minimum of $50,000, though account minimums may vary for third-party manager service through the firm’s professional asset management program.
The firm’s team includes one chartered investment counselor (CIC) and one chartered property casualty underwriter (CPCU).
Murray Securus Wealth Management Background
Murray Securus Wealth Management has been providing investment advisory services since 2012. The firm is primarily owned by Murray Insurance Associates, Inc. The firm specializes in wealth management, risk management and insurance. It can also advise businesses around healthcare benefits and third-party administration.
The firm mainly works with individuals outside the category of high-net-worth, as well as pension and profit-sharing plans.
Murray Securus 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.”