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Top Financial Advisors in Michigan

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This review was produced by SmartAsset based on publicly available information. The named firm and its financial professionals have not reviewed, approved, or endorsed this review and are not responsible for its accuracy. Review content is produced by SmartAsset independently of any business relationships that might exist between SmartAsset and the named firm and its financial professionals, and firms and financial professionals having business relationships with SmartAsset receive no special treatment or consideration in SmartAsset’s reviews. This page contains links to SmartAsset’s financial advisor matching tool, which may or may not match you with the firm mentioned in this review or its financial professionals.

Finding a Top Financial Advisor Firm in Michigan

Handing over your assets to a financial advisor to manage can be nerve-racking. After all, you want to ensure you find an advisor who is well-equipped to meet your specific needs and protect and grow your savings. To help you decide which advisor is best for you, we’ve assembled this list of the top financial advisor firms in Michigan. To figure out which firm suits you, take a look at their fee schedules, investment strategies, offered services and more below. You can also use SmartAsset's free financial advisor matching tool to get connected directly to advisors who serve your area.

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Rank Financial Advisor Assets Managed Minimum Assets Financial Services More Information
1 Plante Moran Financial Advisors Plante Moran Financial Advisors logo Find an Advisor

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$19,826,270,617 $500,000
  • Financial planning
  • Portfolio management
  • Pension consulting

Minimum Assets

$500,000

Financial Services

  • Financial planning
  • Portfolio management
  • Pension consulting
2 Heber Fuger Wendin Inc. Heber Fuger Wendin Inc. logo Find an Advisor

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$7,940,915,588 Varies based on account type
  • Financial planning
  • Portfolio management
  • Publication of periodicals or newsletters

Minimum Assets

Varies based on account type

Financial Services

  • Financial planning
  • Portfolio management
  • Publication of periodicals or newsletters
3 Advance Capital Management, Inc. Advance Capital Management, Inc. logo Find an Advisor

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$4,069,536,806 No set account minimum
  • Financial planning
  • Portfolio management
  • Pension consulting

Minimum Assets

No set account minimum

Financial Services

  • Financial planning
  • Portfolio management
  • Pension consulting
4 Mainstay Capital Management, LLC Mainstay Capital Management, LLC logo Find an Advisor

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$3,858,741,129 $200,000
  • Financial planning
  • Portfolio management
  • Educational seminars and workshops

Minimum Assets

$200,000

Financial Services

  • Financial planning
  • Portfolio management
  • Educational seminars and workshops
5 Schwartz & Co. Schwartz & Co. logo Find an Advisor

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$5,798,984,434 No set account minimum
  • Financial planning
  • Portfolio management
  • Pension consulting
  • Educational seminars/workshops

Minimum Assets

No set account minimum

Financial Services

  • Financial planning
  • Portfolio management
  • Pension consulting
  • Educational seminars/workshops
6 Zhang Financial Zhang Financial logo Find an Advisor

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$4,784,376,786 $1,000,000
  • Financial planning
  • Portfolio management
  • Pension consulting

Minimum Assets

$1,000,000

Financial Services

  • Financial planning
  • Portfolio management
  • Pension consulting
7 R.H. Bluestein & Co. R.H. Bluestein & Co. logo Find an Advisor

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$4,449,016,828 No set account minimum
  • Financial planning
  • Portfolio management

Minimum Assets

No set account minimum

Financial Services

  • Financial planning
  • Portfolio management
8 Rehmann Financial Rehmann Financial logo Find an Advisor

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$2,838,581,000 No set account minimum
  • Financial planning
  • Portfolio management
  • Pension consulting
  • Selection of other advisors (including private fund managers)

Minimum Assets

No set account minimum

Financial Services

  • Financial planning
  • Portfolio management
  • Pension consulting
  • Selection of other advisors (including private fund managers)
9 Telemus Capital, LLC Telemus Capital, LLC logo Find an Advisor

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$3,361,836,038 No set account minimum
  • Financial planning
  • Portfolio management
  • Selection of other advisors (including private fund managers)
  • Educational seminars/workshops
  • Family office services
  • Corporate executive services
  • Credit and cash management solutions

Minimum Assets

No set account minimum

Financial Services

  • Financial planning
  • Portfolio management
  • Selection of other advisors (including private fund managers)
  • Educational seminars/workshops
  • Family office services
  • Corporate executive services
  • Credit and cash management solutions
10 NPF Investment Advisors NPF Investment Advisors logo Find an Advisor

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$2,310,983,746 $1,500,000
  • Financial planning
  • Portfolio management
  • Consultations

Minimum Assets

$1,500,000

Financial Services

  • Financial planning
  • Portfolio management
  • Consultations

What We Use in Our Methodology

To find the top financial advisors in Michigan, we first identified all firms registered with the SEC in the state. 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.

Plante Moran Financial Advisors

At the top of the list, Plante Moran Financial Advisors (PMFA) is a Southfield-based wealth advisory firm with a client base that includes individuals, high-net-worth individuals, pension plans, charitable organizations, government entities, corporations, family limited partnerships (LPs) and family/private foundations. 

For portfolio management services, the firm will typically charge a percentage of your assets under management that ranges from 0.25% to 0.90%, depending on the market value of your assets. Financial planning fees are typically charged at an hourly rate between $110 and $450. The firm requires clients maintain a minimum account size of $500,000.

PMFA is a fee-based firm, meaning its advisors may earn commissions on top of standard advisory fees, either through certain securities transactions or the sale of insurance products. While this may create a potential conflict of interest, the firm has a fiduciary duty to always act in its clients' best interests.

PMFA has a massive team of finanical advisors that includes certified financial planners (CFPs) and chartered financial advisors (CFAs).

Plante Moran Financial Advisors Background

Plante Moran Financial Advisors was established in 1993. In addition to Southfield and elsewhere in Michigan, the firm has offices in Colorado, Illinois and Ohio, as well as China, India, Japan and Mexico. In early September 2020, PMFA was acquired by CAPTRUST Financial Advisors. 

The firm provides investment management, general financial planning, wealth management, estate planning, auditing, tax preparation and consulting services. 

Plante Moran Financial Advisors Investment Strategy

Plante Moran typically invests in many different types of securities when constructing client portfolios. These include open-end mutual funds, exchange-traded funds (ETFs), collective trusts, certificates of deposit (CDs), limited partnership interests, interests in limited liability companies, options contracts on securities, hedge funds and other alternative investments.

Plante Moran uses proprietary models to analyze investment options and attempt to find undervalued securities. The model will factor in statistics like P/E ratio, dividend yield, price-to-book ratio and others to formulate a market valuation that can be compared to historical averages. The firm then compares the results between asset classes and investment styles to identify potentially undervalued or overvalued segments of the equity markets.

Heber Fuger Wendin Inc.

Heber Fuger Wendin (HFW), a fee-only firm located in Bloomfield Hills, is one of the oldest practices on our Michigan list, having been in business since 1934. While HFW serves individual clients with and without a high net worth, a large percentage of its accounts belong to institutional clients, including banking or thift institutions, insurance companies, government entities, corporations and other businesses.

HFW does not impose a minimum account size for institutional clients, but requires individual clients have at least $250,000 to open an account.  

As a fee-only firm, HFW's advisors do no sell third-party financial products for commissions or other outside compensation. Instead, the firm's revenue comes from client-paid fees, which are based on a percentage of assets under management or charged at a flat rate. 

The HFW team includes advisors who hold the chartered financial analyst (CFA) and chartered financial consultant (ChFC) designations. 

Heber Fuger Wendin Background

As stated above, HFW has been around since 1934. Today, it's owned by president/CEO David Barnes and Heidi Barnes, the firm's treasurer and systems administrator. 

HFW has a range of services for its individual and institutional clientele. The firm offers investment advisory services, investment portfolio accounting, mortgage rights servicing valuations, asset/liability management consulting, strategic planning services and more. 

Heber Fuger Wendin Investment Strategy

For financial institutions, HFW typically manages portfolios that comprise investment grade bonds and other fixed income securities. The portfolios of invidividual clients and others may include investment grade bonds, stocks, exchange-traded funds, convertible securities and various mutual funds, including money market funds. 

Advance Capital Management, Inc.

Fee-only Advance Capital Management works with individuals, high-net-worth individuals, pension plans, charitable organizations, other investment advisors and corporations.

The Southfied-based firm does not have a set account minimum. However, for investment management and financial planning services, it charges a percentage of your assets under management (AUM) from 0.65% to 1.00%. The firm may decide to negotiate a different fee agreement based on additional factors as well.

The advising team at ACM is spread across several offices. The team in Southfield includes staff members with professional designations such as certified financial planner (CFP), chartered financial analyst (CFA), chartered retirement planning counselor (CRPC), chartered alternative investment analyst (CAIA) and certified public accountant (CPA).

Advance Capital Management Background

Advance Capital Management was established in 1986. The firm is owned by holding company Advance Capital Group, Inc., which itself has four owners. The principal owner is the ACG Employee Stock Ownership Plan, while minority owners include John C. Shoemaker, Raymond A. Rathka, Robert J. Cappelli and Christopher M. Kostiz. 

The firm offers financial planning and investment consulting services for individuals and institutional clients. 

Advance Capital Management Investment Strategy

Advance Capital Management usually invests in mutual funds and exchange-traded funds (ETFs), provided that these securities fit in with a client’s risk tolerance and overall investment goals. The firm may also use alternative investments as a way to further diversify a portfolio.

When deciding on what funds to invest in, the firm considers factors like its risk-adjusted performance, size, manager tenure, Morningstar rating and availability to new investors. From there, the firm’s investment committee will further analyze and narrow down the options to a list of approved funds. To determine the proper asset allocation, advisors will consider the client’s risk tolerance, investment objectives, time horizon, income needs and tax circumstances.

Mainstay Capital Management, LLC

Fee-only firm Mainstay Capital Management has its home office in Grand Blanc. The firm's staff holds a number of designations, such as chartered retirement planning counselor (CRPC), certified financial planners (CFP), accredited asset management specialist (AAMS), chartered financial analyst (CFA), chartered mutual fund counselor (CMFC), accredited wealth management advisor (AWMA) and more.

This firm primarily works with individuals and high-net-worth individuals. Clients will need $200,000 to establish an account at Mainstay. 

As a fee-only practice, Mainstay advisors do not sell financial products or insurance for commissions. This reduces potential conflict of interests for the firm and its advisors. As for fees, the firm charges clients a percentage of their assets under management.  

Mainstay Capital Management Background

Mainstay Capital Management was created in 2000, and it is under the principal ownership of CEO David Kudla. Kudla has been in the financial services industry for over 15 years, and has been named one of Barron’s top 100 independent financial advisors in the U.S. for 12 years running.

The firm’s main services are comprehensive investment management, individual 401(k), 457 and 403(b) account management and retirement plan transitions. But the firm’s services extend way beyond just that, as it also offers:

  • Estate planning
  • Retirement planning
  • College savings planning
  • Charitable gift planning
  • Tax minimization
  • Debt and mortgage optimization
  • Buyout analysis

Mainstay Capital Management Investment Strategy

Mainstay Capital Management offers a few different pre-built investment strategies, ranging from ultra-aggressive to ultra-conservative. The firm is open to using short-term purchases within its client accounts, but not necessarily for the purpose of market-beating investing. Instead, the firm uses these investments to satisfy a client’s need for liquidity by shooting for quick, albeit risky, returns.

Exchange-traded fund (ETFs) and mutual funds are explicitly stated as the favored investment types of Mainstay Capital Management. But because these investments won’t always fit neatly into everyone’s plans, the firm will also review various stocks and bonds to flesh out certain client accounts.

Schwartz & Co.

Schwartz & Co. is a fee-based practice located in Bloomfield Hills. The firm’s client base is a mix of individuals with and without a high net worth, pooled investment vehicles, pension plans, charitable organizations, government entities and corporations. The firm doesn’t have an account minimum, although it requires a $100,000 minimum investment for a pooled investment vehicle that it advises.  

Schwartz & Co. is fee-based, meaning some advisors may earn commissions from conducting securities transactions, in addition to the advisory fees that clients pay. These commissions may alter incentives and create conflicts of interests. However, the firm is bound by its fiduciary duty to always act in the best interest of its clients.

For investment management services, the firm will often customize fee schedules to each client. However, it estimates the fee to be no higher than 1.50%. These fees are negotiable and may vary from client to client.

Schwartz & Co. Background

Schwartz & Co. first opened its doors in 1976. The firm is wholly owned by Schwartz Holdings, LLC, a financial services holding company. Gregory Schwartz, Sr., along with his five sons Gregory Schwartz Jr., Walter Schwartz, Joseph Schwartz, Edward Schwartz and Peter Schwartz, all own shares in Schwartz Holdings.

The firm offers financial planning and investment management. Often, the firm will provide both of these services together, but it provides stand-alone financial planning as well.

Schwartz & Co. Investment Strategy

A key aspect of Schwartz & Co.’s investment process is tailoring its strategy to individualized factors like your time horizon, need for liquidity, risk tolerance and investment goals. With that in mind, the firm will construct a diversified portfolio of investments.

The firm often invests in or provides advice on equities, corporate debt securities, certificates of deposit (CDs), municipal securities, government securities, interests in real estate partnerships, variable life insurance, variable annuities and mutual fund shares.

Zhang Financial

Zhang Financial is a fee-only firm with a team that includes certified financial planners (CFPs), certified public accountants (CPAs), chartered financial analysts (CFAs), chartered financial consultants (ChFCs), certified divorce financial analysts (CDFAs) and chartered life underwriters (CLUs) on its team.

While Zhang Financial works with individual clients above and below the high-net-worth threshold, you'll need a minimum investment of $1 million to establish an account. The practice also offers its services to trusts, estates, charitable organizations, pension and profit-sharing plans and municipal government entities.

As a fee-only practice, Zhang Financial and its advisors do not sell financial products for commissions.

Zhang Financial Background 

Zhang Financial has been operating as a registered investment advisor since 2012. It is headquartered in Portage and has four other Michigan branches in Ann Arbor, Battle Creek, Grand Rapids and Troy, as well as an office in Naples, Florida. Founder and CEO Charles Zhang remains the principal owner of the business. 

The firm provides investment management services on a discretionary, either through or not through a wrap fee program. It also advises portfolios on a non-discretionary basis. Additionally, it offers financial planning and consulting on topics including retirement saving, estate planning and managing trusts. What's more, the firm acts as sub-advisor to pension and profit-sharing plans, charitable organizations and municipal government entities.

Zhang Financial Investment Strategy 

Zhang Financial primarily provides advice on: 

  • Stocks 
  • Bonds
  • Exchange-traded funds (ETFs)
  • Mutual funds
  • Options 

However, the firm would consider other types of securities if it deems them suitable to help you meet your investment goals. When selecting investments, Zhang Financial applies fundamental, technical and cyclical methods of analysis. It uses long-term purchases (securities held for at least a year), short-term purchases (securities sold within a year), trading (securities sold within 30 days), margin transactions and option writing.

R.H. Bluestein & Co.

Birmingham-based R.H. Bluestein & Co. works almost entirely with high-net-worth individual clients. The rest of the firm's client base includes individuals without a high net worth, businesses, charitable organizations, retirement plans and pooled investment vehicles. While this firm does not have a minimum investment requirement for new clients, you will need to adhere to its $25,000 minimum annual fee.

This is a fee-only firm. That means all of its compensation solely comes from client-paid fees rather than a combination of client fees and sales commissions.

The team of advisors at this firm includes staff members with professional designations such as chartered financial analyst (CFA) and certified public accountant (CPA).

R.H. Bluestein & Co. Background

R.H. Bluestein & Co. was established in 1990 by firm president Robert H. Bluestein.  On December 31, 2021, R.H. Bluestein & Co. was acquired by CI Private Wealth US, LLC, which itself is an indirect majority-owned subsidiary of CI Financial Corp.

The services of R.H. Bluestein include investment management, retirement account management and more. The firm touts its status as a "family-owned business that works closely with multiple generations of special families," according to its website.

R.H. Bluestein & Co. Investment Strategy

R.H. Bluestein & Co. bases its investment services around the needs of each client. For example, the firm will focus on the client's short- and long-term investment objectives, time horizon, risk tolerance, liquidity and income needs, investment preferences and more. As a result of this personalization, the firm's investment philosophy will differ from client to client.

Rehmann Financial

Rehmann Financial is a fee-based financial advisor firm located in Lansing. The firm's headquarters, which is listed as the home of the wealth management division of the company, includes certified public accountants (CPAs), certified financial planners (CFPs) and chartered global management accountants (CGMAs).

The firm advises both individuals and high-net-worth individuals. It also does business with institutions, including pension and profit-sharing plans, government entities and corporations. The firm does not have a minimum account size requirement or minimum fee, but some individual advisors may impose them.

Investment management fees are paid based on a percentage of assets under management. Some advisors may also sell you securities or insurance products and earn a commission for doing so. This is a potential conflict of interest, but the firm is still a fiduciary and must act in your best interest.

Rehmann Financial Background

Rehmann Financial has been in business since 2001. It is owned by parent company Rehmann Financial Group, LLC, which in turn is owned by Rehmann, LLC. No shareholder of the parent firm holds more than 25% interest in the advisory business.

The following services are available for Rehmann clients:

  • Financial planning
  • Financial consulting
  • Investment management
  • Insurance
  • Savings
  • Investments
  • Portfolio analysis

Rehmann Financial Investment Strategy

Your advisor at Rehmann Financial will help you come up with a portfolio strategy that makes sense for you. Your asset allocation will vary based on your financial situation and goals, but will include equities, fixed-income investments and alternative investments. Both individual securities and mutual fund shares may be used, depending on your preferences.

The firm uses a number of modes of analysis, including technical analysis and qualitative analysis, to decide which companies and other investments to choose for its clients.

Telemus Capital, LLC

Telemus Capital is a fee-based financial advisor located in Southfield. The firm works with individuals and high-net-worth individuals, pooled investment vehicles, pension plans, charitable organizations, government entities and corporations.

The team at Telemus includes certified financial planners (CFPs), chartered financial analysts (CFAs), certified public accountants (CPAs) and accredited wealth managment advisors (AWMAs), to name a few represented designations.

While the firm doesn’t have an account minimum, it does impose a minimum annual fee of $3,750 per household. Note that this minimum may cause Telemus’ services to be cost prohibitive for low balances.

For investment management services, the firm will typically charge you a fee that ranges from 0.55% to 1.25% of your invested assets. Financial planning fees are generally included in this rate. However, the firm may decide to charge a stand-alone fee for especially complex situations.

Telemus Capital Background

Telemus Capital is wholly owned by Focus Operating, LLC, which itself is a wholly-owned subsidiary of Focus Financial Partners, LLC, a financial services holding company.

The firm offers investment advisory and financial planning services to its clients, as well as consulting services for pensions and other qualified retirement plans.

Telemus Capital Investment Strategy

A key aspect of the Telemus Capital investment process is fitting its strategy to individualized factors like your time horizon, need for liquidity, risk tolerance and investment goals. For most clients, the firm uses one of several model strategies: "Income Only," “Capital Preservation,” “Conservative,” "Conservative Income," “Moderate,” “Balanced,” “Aggressive,” "Ultra Aggressive" and "Growth Only."

Allocations of multiple asset classes (equities, fixed-income securities, alternative investments, cash) will be present in differing percentages in each model strategy, depending on the risk profile it adheres to. Every model will include some combination of individual equities, individual bonds, mutual funds, exchange-traded funds (ETFs)alternative investments and potentially other investments too.

NPF Investment Advisors

NPF Investment Advisors is a fee-only advisory firm that's been in business since 1933. With a $1.5 million minimum account size, NPF primarily works with high-net-worth individuals. However, the firm also serves individuals below the high-net-worth threshold, charities, retirement plans, corporations and other businesses. 

NPF, which is located in Grand Rapids, has advisors on staff who hold the certified financial planner (CFP), chartered financial analyst (CFA) and certified private wealth advisor (CPWA) designations. 

As a fee-only practice, NPF and its advisors do no sell financial products for third-party commissions. The firm collects fees directly from clients. Fees are either charged as a percentage of assets under management or at an hourly rate. 

NPF Investment Advisors Background

Founded in 1933, NPF is the longest-tenured firm on our Michigan state list. While the firm conducts business as NPF Investment Advisors, its legal name is Norris Perne & French LLP. Chief investment officer Kurt Arvidson is the firm’s current principal equity owner. John Wisentaner, Charles Dutcher, David Hodge and Daniel Lupo are the firm’s current minority equity owners.

NPF offers portfolio management on either a discretionary and non-discretionary basis, as well as financial planning. The latter offering may include net worth and cash flow analysis, asset allocation review, tax management, estate planning, insurance planning, debt management, education planning and other services. 

NPF Investment Advisors Investment Strategy

The firm's investing strategies are guided by asset allocation, fundamental analysis, mutual fund/ETF analysis, as well as technical analysis, charting and cyclical analyiss. NPF may engage in long-term purchasing, which involves buying an asset and holding it for at least a year. The firm may also use short-term purchasing and trading, which involves holding an asset for less than a year or under 30 days, respectively. 

 

How Long $1 Million 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 weighed potential expenditures for a prospective retiree with a  $1 million nest egg to assess how many years that fund would cover in retirement in America’s largest cities.

We 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 metro areas across the U.S.

We assumed the $1 million would grow at a net annual return of 2% after inflation. 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.