Finding a Top Financial Advisor in New York City
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 top 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.
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|Rank||Financial Advisor||Assets Managed||Minimum Assets||Financial Services||More Information|
|1||Summit Rock Advisors, LP Find an Advisor||$21,733,298,515||$100,000,000|| || |
|2||Cerity Partners, LLC Find an Advisor||$44,670,528,622||No set account minimum|| || |
Minimum AssetsNo set account minimum
|3||Steward Partners Investment Advisory, LLC Find an Advisor||$13,247,263,393||Varies based on account type|| || |
Minimum AssetsVaries based on account type
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|4||Silvercrest Asset Management Group, LLC Find an Advisor||$32,319,678,854||No set account minimum|| || |
Minimum AssetsNo set account minimum
|5||Tiedemann Advisors, LLC Find an Advisor||$26,578,120,947||No set account minimum|| || |
Minimum AssetsNo set account minimum
|6||Rockefeller Capital Management Find an Advisor||$25,534,822,903||Varies based on account type|| || |
Minimum AssetsVaries based on account type
|7||TAG Associates, LLC Find an Advisor||$9,495,600,000||No set account minimum|| || |
Minimum AssetsNo set account minimum
|8||BBR Partners, LLC Find an Advisor||$25,967,700,000||$30,000,000|| || |
|9||Wealthspire Advisors Find an Advisor||$14,321,155,536||Varies based on account type|| || |
Minimum AssetsVaries based on account type
|10||Roosevelt Investments Find an Advisor||$3,437,886,584||$500,000|| || |
What We Use in Our Methodology
To find the top financial advisors in New York, 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.
Summit Rock Advisors
Summit Rock Advisors claims the first spot on our list of the top financial advisory firms in New York. This firm has an incredibly high minimum asset requirement, as you'll generally need at least $100 million to open an account. As a result of this level of exclusivity, the firm has fewer clients than some of the other firms on the list. In fact, all individual accounts at Summit Rock belong to high-net-worth individuals. Other clients include pooled investment vehicles and charities.
Summit Rock is a fee-only firm, as advisors do not receive third-party commissions from selling securities or insurance. A fee-based firm is different, as they collect commissions and are subject to a potential conflict of interest, as a result.
Summit Rock Advisors Background
Summit Rock was founded in 2007. CEO David Dechman and chief investment strategist Nancy Donohue are the co-founders and principal owners.
The firm aims to provide clients with holistic wealth management services. This involves rolling together investment management and financial planning to help clients reach their financial and investment goals.
Summit Rock Advisors Investment Strategy
Summit Rock's investment strategies are based around the individual wants, needs and financial goals of each client. Advisors take into account all aspects of a client's financial situation before taking action. They use information about a client's investment history, tolerance for risk, liquidity needs and a handful of other factors before creating an investment management plan that works for the client.
Advisors place significant emphasis on preserving capital, reducing volatility and increasing the long-term purchasing power of all of their clients. The following six factors also play an incredibly important role in helping advisors craft investment strategies:
- Asset allocation with broad asset class diversification
- Access to investment managers
- Due diligence
- Liquidity management
- Investment implementation advice and support
- Integration of legal, governance and other factors that impact financial results
Cerity Partners holds the next spot on our list of the top financial advisors in New York City. It also makes our list of the top financial advisors in the state of New York. Cerity is a large firm, working with a wide range of clients. These include mainly individuals both with and without a high net worth. Other clients are pensions, profit sharing plans, government entities, businesses, insurance companies and investment funds. While Cerity technically doesn't have an investment minimum, it's services are clearly built for the affluent.
Cerity Partners is a fee-only firm. It does not receive third-party commissions, instead only receiving fee directly from clients in exchange for advisory services. There is no set account balance minimum with this firm.
Cerity Partners Background
Cerity Partners was founded in 2009. It's ownership is deep, as the firm is controlled by Cerity Partners Equity Holding LLC. This holding company is controlled by Cerity Partners EOE, LLC, which is owned by employees of Cerity Partners along with Cerity Partners Holding, LLC. Cerity Partners Holdings, LLC is a wholly-owned subsidiary of Lightyear Fund IV AIV-1, L.P.
Kurt Miscinski serves as the president and CEO of Cerity Partners. He works in the firm's Chicago office. Along with New York and Illinois, the firm has offices in California, Colorado, Florida, Illinois, Massachusetts, Pennsylvania, Ohio, Michigan and Texas.
The firm provides a variety of financial services to clients, such as investment advisory, wealth planning, tax services, financial counseling and retirement plan services.
Cerity Partners Investment Strategy
Cerity Partners works to determine the investment objectives of each client so that advisors can provide customized investment strategies to the best of their ability. Through conducting meetings with clients, advisors determine, on a more granular level, a client's risk tolerance, liquidity needs, time horizon, investment restrictions and any other pertinent information.
The firm uses both primary assets classes and sub-asset classes when it comes to creating asset allocation strategies and populating portfolios. These include cash and cash equivalents, global fixed-income, global equity, real return, hedge funds and private equity.
Steward Partners Investment Advisory
Steward Partners Investment Advisory takes the next spot on our list of the top financial advisory firms in New York. The large team of advisors here manages a client base of thousands of non-high-net-worth and high-net-worth individual accounts. Other clients include charitable organizations, corporations and pension plans. If you're looking to open an account with Steward, there are a handful of minimum investment requirements by program or service.
As a fee-based firm, some of the advisors here can receive commissions from the sale of third-party financial products. While this presents a potential conflict of interest, the firm's fiduciary duty requires it to act in your best interest.
Steward Partners Investment Advisory Background
Steward Partners was founded in 2016 by founding partner James Gold, and is principally owned by Steward Partners Management Holdings, LLC.
Several advisors at the firm hold advisory designations. These include certified public accountant (CPA), certified financial planner (CFP), chartered retirement planning counselor (CRPC) and more.
The firm offers a comprehensive range of financial services, including portfolio management, financial planning, private banking, business solutions and pension consulting.
Steward Partners Investment Advisory Investment Strategy
Steward Partners investment strategies are based on a dynamic philosophy that shifts with the changes in clients’ lives and lifestyles. The firm feels that diversification is of utmost importance when considering what it can offer its clients.
The firm offers an extensive set of options for investment, based on a diversification strategy in asset allocation that aims to reduce the inherent risk of investing. Some of these options focus on banking and lending, wealth planning and insurance planning.
Silvercrest Asset Management Group
Silvercrest Asset Management Group's account minimum is not set at any amount, though the majority of the firm's clients are high-net-worth individuals. In fact, it doesn't work with any individuals or families with less than a high net worth. The firm also has an institutional client base comprised of banks, investment companies, investment funds, retirement plans, charities, government entities, insurance companies and businesses.
This fee-only firm employs certified financial planners (CFPs), chartered financial analysts (CFAs) and certified public accountants (CPAs) on staff.
Silvercrest Asset Management Group Background
Silvercrest Asset Management was founded in 2001, but its managing directors average over 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 Group Resources
Silvercrest posts quarterly economic commentary and seasonal market and economic insights at least once a month on its website.
Tiedemann Advisors is a fee-only firm, which means all of its compensation comes from client-paid fees. Among the firm's advisors are certified financial planners (CFPs), chartered financial analysts (CFAs), certified public accountants (CPAs), chartered alternative investment analysts (CAIAs) and 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. Its other clients also include charitable organizations and investment funds.
Tiedemann Advisors Background
Founded in 2008 by Craig Smith and Carl and Michael Tiedemann, the firm is owned by Tiedemann Wealth Management Holdings, LLC, which is jointly owned by Michael Tiedemann and Craig Smith. 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 (ETFs), exchange-traded notes (ETNs) 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.
Rockefeller Capital Management
Rockefeller Capital Management (RCM) is an advisory firm that started out managing the wealth of John D. Rockefeller, considered to be the wealthiest person in American history. If you want to become a client of RCM, you'll need to determine which programs and services you want to take advantage of. That's because each of these have their own investment minimums.
Rockefeller Capital Management is a fee-based firm, which means some of its advisors can receive third-party sales commissions. While this arrangement represents a potential conflict of interest, the firm's fiduciary duty requires it to act in your best interest.
The firm’s client base includes non-high-net-worth and 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.
Founded in 1983, TAG Associates is one of the oldest firms on this list. While there isn't a set account minimum for new clients, its only individual clients are those with a high net worth. Other clients include investment funds and retirement plans.
TAG is a fee-only firm, which means all of its compensation comes from client-paid fees. This differs from a fee-based firm which can receive third-party commissions in addition to client-paid fees.
TAG Associates Background
TAG Associates’ senior management group averages around 30 years of experience in the finance and investment industries. 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 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 (SMAs), mutual funds and 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.
BBR Partners is a fee-only advisory firm with a very high account minimum of $30 million dollars, making it one of the most exclusive on this list. While the firm may be willing to waive this requirement, its client base indicates its very unlikely. In fact, 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, investment companies, charitable organizations and corporations.
The firm has a very large team of advisors on staff, including certified financial planners (CFPs), chartered financial analysts (CFAs) and certified public accountants (CPAs).
BBR Partners Background
BBR Partners has been registered with the SEC since 2000. Brett H. Barth and Evan M. Roth are the principal owners of the firm through a separate entity called BBR Partners Holdings, LP. There are 24 other equity partners who hold stakes in BBR Partners Holdings too.
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 (ETNs) and private investment funds.
Wealthspire Advisors is up next on our list of the top financial advisory firms in New York. The advisory team here is quite large, and Wealthspire's client base is comprised of thousands of non-high-net-worth and high-net-worth individuals' accounts. Other clients include pension plans, charitable organizations and corporations. The firm also requires varying minimum assets, depending on specific circumstances for each account.
This firm is fee-based, which means it collects commissions which could potentially result in a conflict of interest for clients. However, Wealthspire has a fiduciary duty to put client best interests first.
Wealthspire Advisors Background
Wealthspire was founded in 1995 by Howard Sontag, and has been wholly owned by NFP Corp. since 2015. At various points in time, the firm has previously gone by the names Sontag Advisory and Bronfman Rothschild.
Several advisors at the firm have various designations, including certified public accountant (CPA), certified financial planner (CFP), chartered financial consultant (ChFC) and certified divorce financial analyst (CDFA).
Wealthspire Advisors Investment Strategy
The firm aims to help clients achieve medium-to-long-term financial goals. To that end, Wealthspire continuously researches new opportunities and monitors and evaluates existing investments.
The firm relies on a diversification strategy in asset allocation to reduce investment risk, and offers a comprehensive range of financial services that include portfolio management, financial planning, pension consulting and a selection of other advisors.
Roosevelt Investments rounds out our New York City list. The firm is heavily focused on working with individual clients, most of whom have a high net worth. The firm also provides services to retirement plans, charities, insurance companies and businesses.
Roosevelt also has a $500,000 minimum requirement. However, this may be negotiable under certain circumstances.
This is a fee-only firm, which means all of its compensation comes from client-paid fees. This differs from a fee-based firm, which can earn both client compensation and third-party commissions.
The advisory team at Roosevelt holds a number of certifications. These include certified financial planner (CFP), chartered financial analyst (CFA), chartered market technician (CMT) and more.
Roosevelt Investments Background
Roosevelt Investments has been in business since 1971. Today, the firm is under the ownership of CI Financial Corp., which it is a subsidiary of.
This firm’s services are based around private wealth services, which are in-depth offerings that holistically address clients’ financial lives. Its financial planning offerings include retirement planning, estate planning and college savings planning, along with investment management.
Roosevelt Investments Investing Strategy
The investment strategies at Roosevelt Investments are based around equities, fixed-income securities, balanced portfolios and custom portfolios. The strategies that are used within your portfolio are chosen based on your risk tolerance, time horizon, income needs and long-term financial goals.
Roosevelt uses a handful of investment analysis strategies when selecting investments. These include fundamental analysis, cyclical analysis, quantitative analysis and technical analysis.