Finding a Top Financial Advisor Firm in Lehi, Utah
Residents of Lehi, Utah who are looking to work with a local financial advisor have a few options. Here, SmartAsset considers the top firms in the city, including important information about their account minimums, investment strategies, advisor certifications and more. Alternatively, SmartAsset's free financial advisor matching tool can directly connect you with up to three advisors serving your area.
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|Rank||Financial Advisor||Assets Managed||Minimum Assets||Financial Services||More Information|
|1||Drive Wealth Advisers Find an Advisor||$1,230,473,362||No set account minimum|| || |
Minimum AssetsNo set account minimum
|2||Andina Family Offices Find an Advisor||$461,182,633||$1,000,000|| || |
|3||Solidarity Wealth, LLC Find an Advisor||$250,763,185||No required minimum, $5+ million recommended|| || |
Minimum AssetsNo required minimum, $5+ million recommended
|4||Decker Retirement Planning Inc. Find an Advisor||$121,443,824||$300,000|| || |
|5||My Prosper Team Find an Advisor||$25,174,000||No required minimum|| || |
Minimum AssetsNo required minimum
What We Use in Our Methodology
To find the top financial advisors in Lehi, 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:
- AUMFirms with more total assets under management are ranked higher.
- Individual Client CountFirms who serve more individual clients (as opposed to institutional clients) are ranked higher.
- Clients Per AdvisorFirms with a lower ratio of clients per financial advisor are ranked higher.
- Age of FirmFirms that have been in business longer 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.
Drive Wealth Advisers
Drive Wealth Advisers leads off our list of the top firms in Lehi. Drive Wealth employs a team of financial advisors that mainly provides services like portfolio management, financial planning and consulting. The firm's client base is primarily made up of non-high-net-worth and high-net-worth individuals. It also works with pension and profit-sharing plans, charities and businesses.
Drive Wealth does not impose a minimum account balance. That means that technically, anyone can become a client of this firm.
Drive Wealth is a fee-based firm, as some of its advisors are also registered insurance representatives who may receive commissions for selling insurance products to clients. This is a potential conflict of interest. However, Drive Wealth is still a fiduciary, legally binding it to act in clients' best interests at all times.
Drive Wealth Advisers Background
Drive Wealth Advisers was founded in 2015. The firm is fully owned by Crabb Financial, LLC, which is in turn owned by chief compliance officer (CCO) Lowell C. Crabb. Crabb is also a certified financial planner (CFP), and the firm also employs a certified public accountant (CPA), two chartered financial analysts (CFAs), one accredited investment fiduciary (AIF), one certified investment management analyst (CIMA), one qualified plan financial consultant (QPFC) and another CFP.
Drive Wealth provides clients with a variety of services, including portfolio management, subadvisor recommendations, financial planning, pension consulting and general consulting. Services are provided on both a discretionary and non-discretionary basis. Financial planning services may cover topics like cash flow, estate planning, retirement and education savings. The firm may utilize subadvisors to aid in managing client accounts.
Drive Wealth Advisers Investment Strategy
Drive Wealth Advisers bases its investment strategies on the stated investment goals of each client. Advisors meet with all clients to go over their overall financial situation, risk tolerance and investment objectives. They use this information to develop an effective asset allocation strategy, and accounts are constantly monitored and rebalanced as needed.
When it comes to crafting client portfolios, advisors tend to use equities, exchange-traded funds (ETFs), mutual funds, corporate debt securities, commercial paper, certificates of deposit (CDs), options and other investments. Advisors use both fundamental and technical methods of analysis when evaluating investments. They then use long- and short-term purchases, as well as covered options, to drive returns.
Andina Family Offices
Andina Family Offices is up next on our list. The firm focuses on comprehensive family office services, such as holistic financial planning and investment management. The firm typically works with individual clients, though it also maintains advisory relationships with pooled investment vehicles, retirement plans and businesses. Andina generally requires a $1 million minimum account balance for new clients.
Andina is a fee-based firm, as some of its advisors may be able to earn commissions from the sale of insurance products. While this is a potential conflict of interest, the firm is still bound by fiduciary duty, legally obligating it to act in the best interests of clients.
Andina Family Offices Background
Andina Family Offices opened its doors in 2009. Founders Eric S. Barlow and J. Brett Belliston are the firm's managing members and owners. Belliston is also the firm's chief compliance officer (CCO) and president, and he is a certified financial planner (CFP), accredited estate planner (AEP) and certified private wealth advisor (CPWA). Barlow serves as CEO and is a chartered financial consultant (ChFC).
Andina provides clients with family office services through comprehensive wealth management. This offering includes portfolio management and monitoring, along with robust financial planning services that covers issues like estate planning, retirement plans and tax planning.
Andina Family Offices Investment Strategy
Andina Family Offices' investment strategies are typically determined by the development of an investment policy statement, or IPS. Creating this statement involves determining each client's financial and investment parameters, as well as their risk tolerance levels and any specific restrictions they want to place on the management of their assets. Advisors then use this information to design an individualized portfolio allocation strategy.
Client portfolios are constructed using mutual funds and other independent portfolio managers. When using the latter, the firm does not involve itself in the day-to-day management of client assets. Advisors conduct both fundamental and technical analysis when evaluating portfolios. While the firm is not bound to any one investment strategy, it tends to use proprietary software, asset allocation strategies and modern portfolio thoery to inform investment decisions.
Solidary Wealth is a fee-based firm headquartered in Lehi that offers services in investment advisory, tax consulting, estate planning, portfolio management and more. As a fee-based firm, some of its advisors may earn a commission when certain securities are sold. This could create a potential conflict of interest but the firm and its advisors are legally bound by a fiduciary duty to put the needs of each client first.
The firm has no required minimum account size to obtain its services but it is recommended that accounts of $5 million or more are the only ones that should move forward with the firm.
Solidarity Wealth Background
Solidarity Wealth is the youngest firm on the list, founded in 2021. The firm was founded by the trio of Jeff McClean, Zach Whitchurch and Jimmy Mortimer, who are all former advisors of Wells Fargo.
Solidarity Wealth Investment Strategy
The firm offers a unique analytical approach to investments. Each piece of investment advice, or asset management decision, is formulated using one of many analyses. These include:
- Cyclical Analysis
- Duration Constraints
- Fundamental Analysis
- Technical Analysis
- Quantitative Analysis
- Qualitative Analysis
- Sector Analysis
Decker Retirement Planning
Decker Retirement Planning is a fee-based firm that provides retirement planning, financial planning and investment management services. As a fee-based firm, its advisors may earn a commission for the sale of certain securities. This has the potential to cause a conflict of interest but the firm and its advisors are legally bound by a fiduciary duty to put its clients first. The firm requires a minimum account size of $300,000 to obtain its services.
Decker Retirement Planning Background
The firm was founded in 2016 by Brian James Decker, who serves as the CEO and CCO today. Collectively, the firm holds designations such as certified financial planner (CFP) and certified retirement counselor (CRC). Today, the firm manages more than $120 million of assets under management (AUM) and has an advisory team of six.
Decker Retirement Planning Strategy
The firm manages assets in a way that is unique to each one of its clients. The service is offered by determining the individual client's needs, goals, time horizons and appetite for risk. Decker uses a varied strategy within its investment models. Every client's portfolio is going to look different but may include investments such as mutual funds, stocks and exchange-traded funds (ETFs).
My Prosper Team
My Prosper Team works primarily with high-net-worth and non-high-net-worth individuals. As a fee-based firm, some advisors could be licensed to sell insurance and investment products and could earn commissions on those transactions. However, the firm has a fiduciary duty to put client interests first.
Prosper does not require a minimum investment to engage in services. But the firm does charge clients with portfolios under $12,000 a minimum annual management fee of $150.
My Prosper Team Solutions Background
Headquartered in Lehi, Utah, the firm was founded as a limited liability company in 2020. Prosper is wholly owned by the firm’s chief compliance officer Tyler W. Hansen. The advisory team includes a master of science in finance (MSF).
My Prosper Team Solutions Strategy
The firm manages and evaluates portfolios based on client goals and objectives. Its investment philosophy is based on a long-term growth strategy that focuses on risk management.
- Investment management
- Retirement planning
- Insurance services