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The Top Financial Advisors in Montana

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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 Montana

Seeking a financial advisor in the state of Montana? The state doesn't have as many firms as other state, but you do have a few firms to choose from. To help you sort through the available options, SmartAsset has compiled this list of the top financial advisor firms in the state. If you'd like to go a step further with your research, our free financial advisor matching tool can set you up with as many as three financial advisors in your area who can meet your specific needs.

Rank Financial Advisor Assets Managed Minimum Assets Financial Services More Information
1 Bitterroot Capital Advisors Bitterroot Capital Advisors logo Find an Advisor

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$1,060,496,778 No set account minimum
  • Financial planning
  • Portfolio management
  • Selection of other advisors

Minimum Assets

No set account minimum

Financial Services

  • Financial planning
  • Portfolio management
  • Selection of other advisors
2 Investment Management Group Investment Management Group logo Find an Advisor

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$4,391,732,852 $250,000
  • Financial planning
  • Portfolio management

Minimum Assets

$250,000

Financial Services

  • Financial planning
  • Portfolio management
3 Allied Investment Advisors, LLC Allied Investment Advisors, LLC logo Find an Advisor

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$495,502,304 $250,000
  • Financial planning
  • Portfolio management
  • Pension consulting
  • Publication of periodicals

Minimum Assets

$250,000

Financial Services

  • Financial planning
  • Portfolio management
  • Pension consulting
  • Publication of periodicals

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4 Loveless Wealth Management, LLC Loveless Wealth Management, LLC logo Find an Advisor

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$205,620,347 $100,000
  • Financial planning
  • Portfolio management
  • Educational seminars

Minimum Assets

$100,000

Financial Services

  • Financial planning
  • Portfolio management
  • Educational seminars
5 True North Financial True North Financial logo Find an Advisor

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$299,871,642 $250,000
  • Financial planning
  • Portfolio management

Minimum Assets

$250,000

Financial Services

  • Financial planning
  • Portfolio management

How We Found the Top Financial Advisor Firms in Montana

To find the top financial advisors in Montana, we first identified all firms registered with the SEC in the state. Next we filtered out firms that don't offer financial planning services, firms that don't serve primarily individual clients and firms that have disclosures on their record. The qualifying firms were then ranked according to the following criteria:

Bitterroot Capital Advisors

Bitterroot Capital Advisors, which is based in Bozeman, Montana, provides individuals, including many ultra-high-net-worth individuals, trusts, estates, charitable organizations and business organizations in Canada and the United States with discretionary and nondiscretionary investment supervisory services.

There are no set minimums and the firm is fee-only, meaning the sole compensation Bitterroot receives is from clients paying fees that are based on a client's assets under management - not, for example, insurance companies paying commissions for sales of annuities. The firm does not charge performance-based fees but it does assess clients with an annual retainer, which is negotiable.

Bitterroot Capital Advisors Background

Founded in 1999 in San Francisco  by Andrew S. Martzloff, who owns 75% of the firm, which has had its headquarters in Bozeman since 2000. Bitterroot provides financial planning, portfolio liquidity management, cash flow analysis, tax advice and estate planning.

Bitterroot Capital Advisors Investment Strategy

Bitterroot offers a multi-disciplinary, whole-team approach to meeting clients' goals.

The firm offers advice on a variety of securities, including: equities, exchange-listed securities, securities traded over-the-counter; and foreign issues; warrants; corporate debt securities and commercial paper; certificates of deposit; municipal securities; mutual fund securities; United States government securities; option contracts on securities; real estate; oil and gas interests; hedge funds and private partnerships investing in venture capital, risk arbitrage, special situations, and distressed securities; and private placements and privately held businesses.

Investment Management Group

Billings-based Investment Management Group (IMG), whose principal shareholder is Stockman Financial Corp., has been in business nearly two decades and is the largest financial advisor in Big Sky Country. IMG is sometimes referred to as Stockman Wealth Management. The firm works with individuals, both high-net-worth ones and non-high-net-worth ones, financial institutions and one municipality.

Although its account minimum is normally $250,000, it has added a fully online and automated investment program as a new advisory service for private individuals. It runs on the Charles Schwab platform and carries an account minimum of $5,000. IMG's standard fee schedule for individual clients ranges from 0.30% to 1.20%, depending on assets under management and whether those assets are equities, fixed income or funds.

Investment Management Group Background 

Stockman Financial Corp. began in 1953 when William Nefsy bought a controlling interest in Miles City Bank in Miles City, Montana. Since then the bank has become the largest in the state. In 2002 Stockman Wealth Management - doing business as Investment Management Group - was established as a sister to Stockman Bank and Stockman Insurance. In 2013 financial planning was added to the firm's services.

Investment Management Group Investment Strategy

IMG has a six-fold approach to investing decisions:

  • Fundamental analysis: The firm seeks to gauge the intrinsic value of a security by looking at economic and financial factors (including the overall economy, industry conditions, and the financial condition and management of the company itself) to determine if a security is underpriced (indicating a good time to buy) or overpriced (indicating a good time to sell).
  • Technical analysis: The firm analyzes past market movements and applies that analysis to the present to recognize recurring patterns of investor behavior and potentially predict future price movement.
  • Qualitative analysis: IMG subjectively evaluates non-quantifiable factors such as quality of management, labor relations and strength of research and development. 
  • Asset allocation: The firm attempts to identify an appropriate ratio of securities, fixed income and cash suitable to the client’s investment goals and risk tolerance.
  • Fund analysis: IMG assesses the experience and track record of fund managers to determine if they have demonstrated an ability to invest over a period of time and in different economic conditions. The firm also looks at the underlying assets in funds to see if there is significant overlap in the underlying investments held in other fund(s) in the client’s portfolio.

Allied Investment Advisors

Allied Investment Advisors, which is based in Billings, has more than 600 clients who are served by a team of advisors, several of whom are chartered financial analysts and one of whom is an accredited portfolio management advisor. Clients include individuals, high-net-worth individuals, pension and profit-sharing plans, trusts, estates, charitable organizations and businesses.

The account minimum for Allied, which is a fee-only firm, is $250,000. Fees are based on assets under management, and a typical fee schedule is as follows: 1.2% for the $1 million; 1% for the next $2 million; 0.9% for next $2 million; 0.8% for $5 million and above.

Allied Investment Advisors Background

Allied, which was founded in 2009, provides clients in Montana and Wyoming financial planning, portfolio management (on either a discretionary or nondiscretionnary basis), pension consulting services and also publishes periodicals or newsletters as well as sells research services via newsletter.

Allied Investment Advisors Investment Strategy

The firm takes a highly personal approach to advising clients, beginning with a "discovery meeting" in which staff aim to understand a party's financial history, current situation and goals, whether that be retirement, selling a business or navigating challenging market events. Generally, the focus is on a client's long-term goals.

Allied provides investment advice on the following types of securities: exchange-listed equity securities (i.e. stocks), securities traded over-the-counter; foreign issues, fixed-income securities; commercial paper, corporate debt paper, certificates of deposit, municipal securities, mutual Fund shares, exchange-traded funds and U.S. government securities.

Loveless Wealth Management

Loveless Wealth Management, which is based in Billings, is a fee-only registered investment advisor, which stresses that it is not affiliated with any broker-dealer or investment product and thus can offer independent advice free of conflict. While the staff is small the firm's president is both a chartered financial analyst (CFA) and certified financial planner (CFP). Other staffers include a wealth management certified professional and an investment advisor representative. Loveless has nearly 300 clients.

The normal account minimum is $100,000 and clients pay on a sliding-scale fee schedule: 1.5% for the first $500,00; 1% for the next $501,000 to $1,000,000; 0.75% for the next $1,000,001 to $20,000,000; 0.375% for the next $20,000,001 to $50,000,000; and 0.25% for $50,000,001 and above. There are no performance-based fees at Loveless.

Loveless Wealth Management Background

The firm, which was founded by Donald S. Loveless, has been providing financial advice from the Billings area since 1987.

Loveless offers financial planning, non-discretionary investment management, estate planing and tax advice and planning. In implementing tax planning strives to harvest tax losses, monitor marginal tax rates, capital loss carry-forwards and alternative minimum tax situations.

Loveless Wealth Management Investment Strategy

The firm assesses each client's financial goals and risk profile to determine an appropriate asset allocation of equities, fixed-income securities and cash.

Loveless will fundamentally analyze individual investment opportunities, meaning it reviews a company’s financial statements to determine the overall financial health of the company and determine financial ratios to compare the company’s relative value to its competitors. After suitability is determined, diversification of the portfolio is the firm's primary focus. Diversifying the investments across several market sectors, asset classes and individual securities is deemed the best way to decrease the volatility and increase the return of client portfolios.

True North Financial

True North Financial (TNF) is an advisory firm based in Billings that provides financial planning services and investment management services. TNF offers services in 12 states: Alaska, Arizona, California, Colorado, Idaho, Montana, North Dakota, Oregon, Texas, Utah, Washington and Wyoming. Clients include individuals, high-net-worth individuals, retirement plans, charitable organizations, trusts, foundations, businesses and 401(k) plans.

TNF, which has nearly 400 clients, was founded by Ty Fogele in 2012. He holds a 100% ownership stake in TNF and is a chartered retirement planning counselor. Other staffers hold certified financial planner and accredited investment fiduciary designations.

The firm has an account minimum of $250,000. TNF is fee-based rather than fee only. Fee-based firms may charge clients flat fees, hourly fees or performance-based fees. In addition, they may receive commissions for selling insurance products like annuities. What TNF clients pay depends on their account balance. The fee schedule is: 1.50% for accounts from $250,000 to $999,999; 1% for accounts from $1,000,000 up to $2,999,999; 0.75% for accounts from $3,000,000 to $4,999,999; and 0.50% for accounts $5,000,000 and greater. TNF's wrap program fee is: 1.75% for accounts from $250,000 to $999,999; 1.25% for accounts from $1,000,000 up to $2,999,999; 1% for accounts from $3,000,000 to $4,999,999; and 0.75% for accounts $5,000,000 and greater.

True North Financial Background

TNF offers investment management on either a discretionary or non-discretionary basis. The investment instruments it advises its clientele on include, but are not limited to, mutual funds, exchange-traded funds (ETFs), unit investment trusts, individual equities, individual bonds, structured notes, annuities, separately managed accounts and unified managed accounts.

True North Financial Investment Strategy

TNF uses technical, fundamental or cyclical analysis drawn from publicly available information, research and reports as it develops investment advice for clients. The firm employes multiple model portfolios as well as custom portfolios. TNF's investment advice is based on clients' goals, assets, liabilities, investment horizon and objectives, age and risk tolerance, all of which are assessed using a comprehensive discovery process.

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