Finding a Top Financial Advisor in New York, New York
Finding the best financial advisor is a challenging undertaking; doing so in a city as large as New York can be downright overwhelming. We're here to help. We narrowed down the vast array of firms in New York to this list of the top 10 financial advisors. In the charts and reviews below we’ve laid out what sets these top New York firms apart from one other, with info on their account minimums, areas of expertise and investment philosophies.
|Rank||Financial Advisor||Assets Managed||Minimum Assets||Financial Services||More Information|
|1||Silvercrest Asset Management LLC Find an Advisor||$21,340,210,883|| |
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|2||Rockefeller Capital Management Find an Advisor||$15,809,301,720||$5,000,000|| || |
|3||BBR Partners, LLC Find an Advisor||$14,199,200,000||$20,000,000|| || |
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|4||Tocqueville Asset Management, LP Find an Advisor||$12,687,856,369||$250,000|| || |
|5||Tiedemann Advisors, LLC Find an Advisor||$12,301,604,643||No minimum|| || |
Minimum AssetsNo minimum
|6||TAG Associates, LLC Find an Advisor||$8,679,210,000|| |
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|7||HPM Partners, LLC Find an Advisor||$7,433,432,718|| |
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|8||Evercore Wealth Management, LLC Find an Advisor||$7,329,619,694|| |
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|9||Pinnacle Associates, Ltd. Find an Advisor||$6,496,586,132|| |
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|10||East End Advisors, LLC Find an Advisor||$6,468,417,162||$500,000,000|| || |
How We Found the Top Financial Advisors in New York City
We identified all advisor firms in New York City that are registered with the U.S. Securities and Exchange Commission (SEC). We then eliminated any firms that had disclosures of disciplinary issues over the past ten years, did not have financial planners or did not manage individual accounts. From there, we sorted the firms according to assets under management, from highest to lowest. The top 10 firms made this list of New York City financial advisors.
Silvercrest Asset Management LLC
Silvercrest Asset Management has more than $21 billion in assets under management, which is nearly three times that of the second-ranking firm on this list. The firm’s account minimum is also very high, at $10 million. Silvercrest describes its typical client as someone with “significant financial assets, and in the case of families, often spread across multiple generations and among varying individual, retirement, trust and estate-planning vehicles.”
The firm has four certified financial planners (CFPs), 12 chartered financial analysts (CFAs) and two certified public accountants (CPAs).
Silvercrest ranked No. 5 on Barron’s 2018 list of the top 30 independent advisory firms in the U.S.
Silvercrest Asset Management LLC Background
Silvercrest Asset Management LLC was founded in 2001, but its managing directors average 30 years of wealth management experience. The firm handles issues including business succession planning, estate and tax planning and investing for retirement. It also works with family foundations and endowments, and helps clients diversify from concentrated stock holdings or privately held assets.
Each Silvercrest senior portfolio manager is a shareholder in the firm. The company says the goal of this is to add an extra incentive for advisors to perform optimally. The firm also regularly conducts peer reviews to ensure that its clients are receiving the best possible advice and input.
Silvercrest Asset Management LLC Resources
Silvercrest posts quarterly economic commentary and seasonal market and economic insights at least once a month on its website.
Rockefeller Capital Management
Rockefeller Capital Management is an advisory firm that started out managing the wealth of John D. Rockefeller, considered to be the wealthiest person in American history. Today, the firm has 64 advisors, and executive team has two chartered financial analysts (CFAs).
Rockefeller Capital Management, a fee-based firm, typically requires investable assets in excess of $5 million, although it may waive this minimum in certain circumstances. The firm’s client base includes individuals, high-net-worth individuals, pooled investment vehicles, charitable organizations, corporations, pension plans, investment companies, banking institutions, government entities, insurance companies and sovereign wealth funds.
Rockefeller Capital Management Background
John D. Rockefeller first established an investment management company to manage his family’s financial interests back in 1882. That company eventually morphed into Rockefeller Capital Management which has been registered with the SEC in its current form since 1980. The firm’s owners include a trust representing the Rockefeller family and investment funds affiliated with Viking Global Investors, L.P.
The firm provides asset management services, wealth management services, strategic advisory services for business transactions and general financial advice.
Rockefeller Capital Management Investment Philosophy
Like many firms, Rockefeller Capital Management’s investment management process begins with determining each client’s goals, objectives and risk tolerance. Once these factors are established, the firm will construct an appropriate strategy. In general, the firm seeks to create an asset allocation that diversifies risk among several different asset classes and industry sectors.
The firm believes that active portfolio management, along with a portfolio and asset allocation that’s tailored to each client’s needs, has more potential to add significant value over time than a passive management strategy. Exceptions to this preference do exist, however, especially in cases where trading costs may be inordinately high.
BBR Partners, LLC
BBR Partners is a fee-only advisory firm with a very high account minimum of $20 million dollars, making it the second-most exclusive on this list. The firm has 65 advisors on staff, including two certified financial planners (CFPs), six chartered financial analysts (CFAs), four certified public accountants (CPAs), one certified investment management analyst (CIMA) and one chartered alternative investment analyst (CAIA).
The vast majority of BBR’s clients are high-net-worth individuals. However, the firm also works with some non-high-net-worth individuals in spite of the high account minimum, as well as pooled investment vehicles, charitable organizations and corporations.
BBR Partners Background
BBR Partners was founded in 1999 and first registered with the SEC in 2000. Brett H. Barth and Evan M. Roth are the principal owners of the firm.
The firm provides investment advisory services and gives advice on non-investment matters such as estate planning, tax planning, insurance planning, family education and philanthropic planning, among others.
BBR Partners Investment Philosophy
BBR Partners centers its investment strategies around each client’s investment objectives, wealth management needs and risk tolerance. The firm seeks to develop an asset allocation that secures steady growth while also meshing well with those factors specific to each client.
The firm typically allocates client assets among a range of equity and fixed income third-party managers, mutual funds, exchange-traded funds (ETFs), exchange-traded notes and private investment funds.
Tocqueville Asset Management
Tocqueville Asset Management's clients include individuals, high-net-worth individuals, investment companies, pooled investment vehicles, pension plans, charitable organizations, government entities, insurance companies and corporations.
You’ll need at least $250,000 in investable assets to be a client of the firm, although certain investment management programs will require more assets. The firm has a large staff of 50 advisors, 11 of whom are chartered financial analysts (CFAs).
Tocqueville Asset Management Background
Tocqueville Asset Management has been a registered investment advisor since 1990. The firm is 80% owned by Tocqueville Management Corp., an employee-owned general partner. A dynasty trust for the benefit of the children of Robert W. Kleinschmidt owns the remaining 20%. Kleinschmidt is the president and CEO of the firm.
The firm primarily offers investment advisory services on either a discretionary or non-discretionary basis. The firm may also provide consulting or planning services regarding matters such as estate planning, retirement planning, real estate, college financing, inheritance taxes and more.
Tocqueville Asset Management Investment Philosophy
Tocqueville researches and analyzes several categories of investments with separate investment teams made up of portfolio managers and research analysts. The teams are multi-cap equity, gold equity, international multi-cap equity, global equity, small cap equity, small-mid cap equity, small-mid cap growth equity, fixed income/balanced and real asset equity. Within these teams, the advisors rely on both fundamental and quantitative analysis to formulate investment decisions.
Depending the time horizon, investment objectives and risk tolerance of the client, the firm engages in a mix of strategies including buy and hold, leveraging, short selling and option trading, among others.
Tiedemann Advisors, LLC
Tiedemann Advisors is a fee-only firm with a staff of 77 advisors. Among them are nine certified financial planners (CFPs), 10 chartered financial analysts (CFAs), four certified public accountants (CPAs), two chartered alternative investment analysts (CAIAs) and two certified investment management analysts (CIMAs).
The firm doesn’t impose any explicit account minimum. However, certain funds or sub-advisors may have independent account minimums that may affect where the firm can allocate your assets.
The firm works mostly with high-net-worth individuals, but its clients also include pooled investment vehicles, charitable organizations and corporations.
Tiedemann Advisors Background
Founded in 2008 by Carl, Michael and Craig Tiedemann, the firm is owned by Tiedemann Wealth Management Holdings, LLC, which is jointly owned by Michael and Craig Tiedemann. The two also serve as CEO and president, respectively.
The firm provides discretionary and non-discretionary investment advisory services, as well as investment consulting services and other general consulting services. Typically, Tiedemann will act as a manager of managers, allocating some or all of a client’s portfolio to be managed by a third-party sub-advisor.
Tiedemann Advisors Investment Philosophy
As mentioned above, Tiedemann Advisors typically uses third-party money managers to allocate its clients’ assets, whether it be directly through managed accounts or indirectly through mutual funds, exchange-traded funds, exchange-traded notes or private investment funds.
The firm’s investment process typically begins with broad, macroeconomic research and fundamental analysis in order to come up with broad asset allocations that may bring about an attractive potential return. The firm then uses a proprietary risk optimization tool to formulate more specific asset allocation frameworks that make sense for each client’s investment objectives and risk tolerance.
TAG Associates LLC
Founded in 1983, TAG is the oldest firm on this list. This is another New York City firm for the uber-wealthy, since it requires clients to have investable assets of at least $10 million.
The multi-client family office and portfolio management services firm has six certified public accountants (CPAs) on the team. However, TAG only has one certified financial planner (CFP). The firm collects performance-based fees.
TAG Associates LLC Background
TAG Associates’ senior management group averages more than 25 years of experience in finance and investment. TAG takes a team approach, and each client is served by the firm’s managing directors.
TAG is registered as a Commodity Trading Advisor and a commodity pool operator. The firm says that, when appropriate, it will pool clients’ assets to gain better access and diversification.
TAG’s goal is to preserve and grow its clients’ wealth from one generation to the next, and says that it stays on the forefront with the tools it uses to achieve this goal. TAG states that advisors are routinely considering how the latest developments in investment strategy, tax law and estate planning may impact its clients.
TAG Associates LLC Investing Strategy
TAG Associates is a recognized leader in the alternative investments space. The firm has allocated more than a third of its assets under management to alternative investments. It also uses separately managed accounts, mutual funds and (on occasion) the short-term purchase of securities.
TAG Associates has an in-house investment team that performs all investment manager and strategy due diligence. Before the firm selects any manager, its team conducts manager visits and evaluates their portfolio management, strategy and performance, as well as examining their past performance and experience.
HPM Partners LLC
The staff at HPM Partners LLC has an impressive array of certifications and credentials, with eight certified financial planners (CFPs) on the team. If you’re looking for advice on the financials on divorce, this is also the only firm on our list that has a certified divorce financial analyst™ (CDFA). On top of that, HPM Partners has 10 certified public accountants (CPAs) and six chartered financial analysts (CFAs).
The fee-based firm generally requires clients to have a minimum of $2 million in investable assets. HPM Partners may collect performance-based fees in certain circumstances, but it generally does not.
In July 2018, Financial Times named HPM Partners a top-300 investment advisor for the fourth year in a row.
HPM Partners LLC Background
HPM Partners LLC was founded in 2009. The firm is majority-owned by the Milstein family through the Milstein’s Emigrant Bank, which owns an interest in a number of other financial services companies. HPM Partners may recommend investments that are controlled or affiliated with Emigrant Bank, meaning the firm would benefit from those client fees. The firm is also a licensed insurance provider, which means it might recommend providers or solutions. Advisors here are fiduciaries, so even if they recommend products from which they may receive a commission, they are legally obligated to do so with their client's best interests in mind.
HPM Partner’s strategy is centered around asset allocation. A client’s assets are doled out to managers according to managers’ specialities in each of HPM Partners’ 16 recognized asset classes. The firm designs individualized investment programs based on a client’s risk profile, which it categorizes as one of conservative, moderate, balanced, growth or aggressive.
HPM Partners LLC Resources
HPM Partners’ “Library Posts” are a collection of the firm’s quarterly and monthly economic and market outlooks, alongside commentaries hinged on the news cycles and updates about the firm.
Evercore Wealth Management, LLC
Evercore Wealth Management, LLC works in conjunction with Evercore, a top global investment banking advisory firm. Among the firm’s 49 advisors are four certified financial planners (CFPs) and three certified trust and financial advisors (CTFAs).
The fee-based firm has a high account minimum, requiring clients to have at least $5 million in investable assets. Barron’s ranked Evercore 21st in its roundup of investment advisory firms in 2018.
Evercore Wealth Management LLC Background
Evercore Wealth Management was founded in 2008 by the investment banking advisory firm Evercore. Evercore Wealth Management collaborate with colleagues at Evercore. Additional fees may apply for these intercompany arrangements.
Evercore Wealth Management states it works to ensure its clients know what to expect for their money in every scenario. To do this, Evercore Wealth Management projects investment returns across an array of scenarios, taking into account all associated costs. The firm then uses that information to build discrete portfolios. The approach can be helpful to clients by showing the impacts of costs and risks, as well as how a market downturn may affect a portfolio.
Evercore Wealth Management LLC Resources
Evercore Wealth Management puts out an extensive quarterly journal. The most recent issue of “Independent Thinking” was 24 pages long and covered topics like investing internationally, estate planning and illiquid assets.
Pinnacle Associates, Ltd.
Pinnacle Associates, Ltd. requires clients to have a minimum of $1 million in investable assets. While $1 million is nothing to sniff at, that's considerably lower than some other firms on this list; consequently, Pinnacle’s client base is comprised of more non-high-net-worth individual clients than high-net-worth ones, a rarity among the largest New York firms.
Also of note is that Pinnacle Associates has experience with managing portfolios with a socially responsible investment approach.
Pinnacle Associates, Ltd. Background
Pinnacle Associates was founded in 1984 by the firm’s president, Thomas Passios, making this the second-oldest firm on this top 10 list.
Pinnacle is employee-owned, and the firm states that it conducts in-house research to make investing decisions. The firm takes a bottom-up and top-down stock-picking approach, and it opts for intermediate-term high-quality debt securities and investment-grade securities with a two- to six-year maturity for its fixed-income investments.
Pinnacle Associates, Ltd. Investment Philosophy
Pinnacle Associates primarily focuses on long-term investing, as it believes this perspective gives clients the best chance at consistent performance. When it comes to analyzing securities, the firm typically uses fundamental analysis, evaluating the financial condition of a particular company rather than just looking at its price.
The firm invests most frequently in individual equity securities, but it also invests in bonds, mutual funds, exchange-traded funds (ETFs) and real estate investment trusts (REITs). While these are general practices, the firm will cater its advice and investing to each client's investment goals, risk tolerance and timeline.
East End Advisors, LLC
East End Advisors is the final firm on our list, but it's also the most exclusive: This fee-only firm has a minimum portfolio size of $500 million. The firm has accepted clients who haven’t met that minimum, however, and its 11 individual clients have an average portfolio size of $318 million. The bottom line, though, is that you'll have to have a very high net worth to work with this firm. East End also works with some charitable organizations. It has a staff of eight advisors.
East End Advisors Background
East End Advisors was formed in 2008 by Peter A. Nadosy, David R. Salomon and Richard E. Salomon. These three, along with Brian R. Clifford, continue to act as managing partners and principal owners of the firm.
The firm primarily provides investment supervisory services to its clients, helping to develop an investment strategy that’s most appropriate for the client’s goals. In some instances, the firm will also provide consulting services on investment or non-investment matters.
East End Advisors Investment Philosophy
East End Advisors typically acts as a manager of managers, helping clients distribute assets among investment funds such as separately managed accounts, private equity funds, investment partnerships and hedge funds. In less frequent circumstances, the firm will allocate assets to U.S. Government securities or other investments.
The firm primarily makes recommendations with a long-term perspective, although it will tailor its advice to each client’s time horizon and investment objectives. When it comes to analyzing third-party investment managers, the firm looks at factors such as performance, quantitative measures and qualitative matters.