Top Financial Advisors in New York State

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Summit Rock Advisors, based in New York City, takes the No. 1 spot on our list. Clients of Summit Rock Advisors include high-net-worth individuals, pooled investment vehicles, charitable organizations, family foundations and trusts, as well as independent foundations and endowments. The investment minimum at the firm is typically $100 million, making it one of the most exclusive firms in the country.

Summit Rock is a fee-only firm, as advisors do not receive third-party commissions from selling securities or insurance. This differs from a fee-based firm, as these firms can earn commissions in addition to client-paid fees.

Summit Rock Advisors Background

Summit Rock Advisors was co-founded in 2007 by CEO David Dechman and chief investment strategist Nancy Donohue. They are the firm's principal owners to this day as well.

Generally speaking, the firm provides the following types of services:

• Comprehensive financial planning
• Portfolio management
• Selection of other advisors

Summit Rock Advisors Investment Strategy

The firm creates a structured process that prioritizes the most important issues for each client. Its investment philosophy emphasizes preserving capital, reducing volatility and increasing long-term purchasing power. 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

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Cerity Partners is a financial advisor firm that serves clients ranging from high-net-worth and non-high-net-worth individuals, trusts, business entities, corporate pension and profit sharing plans, foundations, charitable institutions and endowments. There's techincally no investment minimum at the firm, though it tends to work with more affluent clients. 

Cerity Partners 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 or their advisors can earn commissions that can lead to a potential conflict of interest.

Cerity Partners Background

Cerity Partners has been in business since 2009. The firm is controlled by Cerity Partners Equity Holding LLC, a company that’s controlled by Cerity Partners EOE LLC. Cerity Partners EOE LLC is owned by Cerity Partners and Cerity Partners Holdings LLC, which is in turn a subsidiary of Lightyear Fund IV AIV-1, L.P.

Cerity also has offices in California, Illinois, Florida, Massachusetts, Pennsylvania, Colorado, Michigan, Ohio and Texas. Kurt Miscinski is the firm’s president and CEO. The firm provides the following types of services:

• Financial planning
• Portfolio management
• Pension consulting
• Selection of other advisors
• Tax services
• Bill pay

Cerity Partners Investment Strategy

The firm uses asset allocation to reduce risk for each client’s investment portfolio. It uses six asset classes: cash and cash equivalents, global fixed income, global equity, real return, hedge funds and private equity. Additionally, Cerity also uses 16 sub-asset classes when developing client-specific allocations. 

The firm provides the following five investment risk profiles for tax-exempt and taxable portfolios: 

• Conservative
• Moderate
• Balanced
• Growth
• Aggressive

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Steward Partners Investment Advisory has its main office in New York City. Members of its wealth management team have professional certifications that include chartered financial consultant (ChFC), certified financial planner (CFP), accredited wealth management advisor (AWMA) and more. 

Clients of Steward Partners include the following: 

• Individuals with and without a high net worth
• Pension and profit-sharing plans
• Trusts
• Estates
• Charitable organizations
• Corporations 
• Other business entities

Account minimums at the firm vary depending on the account. In addition, Steward Partners is a fee-based firm, as advisors may collect commissions and are subject to a potential conflict of interest as a result. Despite this, the firm abides by fiduciary duty.

Steward Partners Investment Advisory Background

Steward Partners Investment Advisory was founded in 2016 by James Gold. Prior to starting the firm, Gold worked at Smith Barney for 18 years. Today, he serves as Steward Partners’ CEO and indirectly owns the firm through a holding company.

The firm provides the following types of services:

• Financial planning services
• Portfolio management
• Pension consulting services
• Financial consulting
• A selection of other advisors (including private fund managers)

Steward Partners Investment Advisory Investment Strategy

According to the Steward Partners Investment Advisory website, diversification in asset allocation is designed to reduce the inherent risk of investing. The firm therefore offers an extensive set of options for investment. Some of these options are banking and lending strategies, wealth planning and insurance planning.

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Silvercrest Asset Management Group is a financial advisor firm that serves clients ranging from high-net-worth individuals; trusts, estates and charitable organizations; corporations or other business entities; institutions, including Taft-Hartley plans, governmental plans, municipalities and their pension plans; not-for-profit entities; limited partnerships and other private investment funds; and registered investment companies. The firm does not require a set account minimum for clients. 

It's important to note that Silvercrest Asset Management Group is a fee-only firm, as advisors do not receive third-party commissions from selling securities or insurance.

Silvercrest Asset Management Group Background

Silvercrest Asset Management Group was founded in 2001. It is a wholly owned subsidiary of Silvercrest LP. Silvercrest Asset Management Group Inc. is the general partner of Silvercrest LP. Silvercrest Asset Management Group, which is a publicly traded C corporation (Nasdaq symbol SAMG). Class A Common Shares of SAMG are owned by the public who invests in it and Class B Common Shares are owned by Silvercrest employees.

The firm provides services such as portfolio management, financial planning, estate and tax planning and investing for retirement. 

Silvercrest Asset Management Group Investment Strategy

Silvercrest Asset Management Group uses specific objectives and guidelines for each client portfolio. The range of investment options for clients is unlimited, including the firm's own equity and fixed-income management, its funds and third-party investment managers. 

The approach the firm takes with equity portfolios is designed to seek compound annual returns with low levels of risk. This approach is conservative and long-term, and as such, portfolio turnover is low.

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Tiedemann Advisors is an SEC-registered investment advisory firm that manages money for high-net-worth individuals and families, as well as trusts, foundations, endowments, charitable organizations and investment funds. There is no set account minimum for clients at this firm, though its offerings are clearly centered around affluent individuals.

The Tiedemann Advisors team includes staff members with many different kinds of professional financial certifications, including certfied financial planner (CFP), certified public accountant (CPA) and chartered financial analyst (CFA), among others.

It's important to note that Tiedemann Advisors is a fee-only firm. That means advisors do not receive third-party commissions from selling securities or insurance.

Tiedemann Advisors Background

While Tiedemann Advisors began doing business in 2008, the LLC of which it is a subsidiary - Tiedemann Wealth Management Holdings, LLC - was founded in 1999. The firm is headquartered in New York City. The firm was founded by the late Carl Tiedemann, who had previously had decades of experience and leadership expertise on Wall Street, his son Michael Tiedemann, who continues as CEO, and Craig Smith, who continues as president.

Tiedemann Advisors provides both discretionary and non-discretionary investment advisory services, investment consulting and other services. The firm customizes services and portfolios based on a thorough understanding of each client's particular situation (including risk tolerance and liquidity) and objectives. The firm also selects investment advisors to offer guidance to private investment fund commingled vehicles, or pooled investment funds.

Tiedemann Advisors Investment Strategy

In order to advise clients, the firm uses a core strategy of third-party managers or investment themes (such as mutual funds, ETFs, private investments (like hedge funds and private equity funds) alongside shorter-term investments with attractive returns that take risk into account (such as equities, bonds, futures, options, etc.).

Tiedemann Advisors uses a variety of strategies at different parts of its research process, looking first at broad macroeconomic treds and using fundamental, technical and cyclical analysis. When it comes time to perform its proprietary risk optimization process and develop the right asset allocation, advisors at the firm will use qualitative and quantitative research to inform strategies.

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With origins that date back to 1882, Rockefeller Capital Management (RCM) works with clients who are non-high-net-worth 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.

Several of the firm's Management Committee leadership are chartered financial analysts (CFAs). The firm is fee-based, which means advisors may collect commissions and are subject to a potential conflict of interest as a result. RCM's fiduciary duty requires it to act in clients' best interests despite this, though.

Account minimums vary according to the type of account a client has.

Rockefeller Capital Management Background

The history of Rockefeller Capital Management begins in 1882, when John D. Rockefeller set up a New York office to manage the Rockefeller family's investment, personal and philanthropic interests. Rockefeller Capital Management became an SEC-registered investment advisor almost 100 years later, in 1980. The current president and CEO of the firm is Gregory J. Fleming.

The firm provides asset management services, wealth management services, strategic advisory services for business transactions and general financial advice.

Rockefeller Capital Management Investment Strategy

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.

The firm's Equity Strategies takes a long-term investment horizon and factors in fundamental research. Its VantageRock Capital Long/Short Equity Strategy also uses fundamental analysis. And its Fixed-Income Strategies use a conservative approach to U.S. fixed-income markets, prioritizing capital preservation and current income.

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Manning & Napier Advisors (also known as MNA) is a financial advisor firm that serves clients ranging from high-net-worth individuals, non-high-net-worth individuals, banking institutions, investment companies, pension and profit-sharing plans, business development companies, trusts, estates, endowments, foundations, corporations, government entities and unions. Investment minmums vary based on the type of account a client has. 

MNA is a fee-based firm, as advisors may collect commissions and are subject to a potential conflict of interest as a result. Despite this, the firm's fiduciary duty requires it to act in clients' best interests at all times.

Manning & Napier Advisors Background

Manning & Napier traces its history back to 1970, when Bill Manning and Bill Napier first set up shop. In 1994, co-founder Manning helped in a lawsuit that established the Financial Industry Regulatory Authority (FINRA) Rule 5320, also called the "Manning Rule." The regulation requires FINRA-registered firms to put clients' interests before their own. In 2011, the firm became a publicly traded company (ticker symbol: MN) on the New York Stock Exchange.

The firm provides services such as financial planning, educational seminars, portfolio managment, pension consulting and a selection of other advisors (including private fund managers). 

Asset management clients at MNA are able to access a wide range of products, including single asset class portfolios (equity, fixed-income or real estate), multiple asset class portfolios (a blend of equity and fixed-income) and custom solution portfolios. Advisors will help clients set appropriate investment objectives, make asset allocation decisions, make regular investment decisions and provide consistent and accurate monitoring of results.

Manning & Napier Advisors Investment Strategy

The firm assigns full strategy-specific management teams (as opposed to individual advisors) to manage client portfolios. It has an internal group comprised of senior research staff that develops MNA's economic and market outlook, establishes allocation guidelines and assesses risk/reward profiles. Securities are then purchased or sold according to each investment's strategy objective.

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TAG Associates serves primarily a small group of high-net-worth individuals. Other clients include trusts, estates, pooled investment vehicles and retirement plans. The firm has no set account minimum, though its offerings are clearly angled towards the affluent.

The firm's team includes a number of staff members who have different kinds of professional financial certifications, including certified public accountant (CPA), certified financial planner (CFP) and chartered financial analyst (CFA), among others.

TAG Associates is a fee-only firm, as advisors do not receive third-party commissions from selling securities or insurance. This is different from a fee-based firm, in which advisors may collect third-party commissions.

TAG Associates Background

When TAG Associates was formed in 1983, the idea of a multi-client family office and portfolio management services advisor was relatively new, but proved to be a useful concept with time. Its staff includes many different kinds of roles, such as senior relationship managers, portfolio management professionals, accountants, bookkeepers and administrators.

TAG is a registered investment advisor (RIA), a commodity trading advisor (CTA) and a commodity pool operator (CPO). David Basner acts as the CEO, Jonathan M. Bergman acts as president and Gary Fuhrman acts as chairman.

TAG Associates Investment Strategy

When putting together investment strategies, the primary concern of TAG Associates is the preservation of capital. TAG currently uses a variety of resources to collect data and evaluate various investment products, including qualitative and quantitative information/data on mutual funds, ETFs, money market funds and indexes; brokerage accounting/performance analysis software; and access to financial and other news in real-time format.

Occasionally, the firm recommends short-term purchases of securities, trading securities sold within 30 days, margin transactions and option writing.

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Another New York City-based financial advisor firm, BBR Partners serves a clientele that typically includes families and individuals (mostly high-net-worth), as well as the associated entities of those individuals - such as trusts, estates, charitable organizations, family partnerships, foundations and business entities. The firm also manages investment funds.

The account minimum at BBR is very high at $30 million, though it may be willing to waive this stipulation under special circumstances. The firm's team includes a number of staff members who have different kinds of professional financial certifications, including certified public accountant (CPA) and chartered financial analyst (CFA), among others.

It's important to note that BBR Partners is a fee-only firm, as advisors do not receive third-party commissions for selling securities or insurance.

BBR Partners Background

BBR Partners registered with the SEC in 2000. Brett H. Barth and Evan M. Roth are the principal controllers of the firm. Along with Barth and Roth, there are 24 other equity partners in BBR Partners Holdings, LP, which is technically the principal owner of BBR.

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 Strategy

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.

BBR’s primary investment strategies are long-term purchases, short-term purchases and trading. These are usually fundamental investment strategies. In addition to these strategies, BBR also implements and/or recommends short sales, margin transactions, and/or options.

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Wealthspire Advisors works with nearly 5,000 individual clients. In fact, these clients are split nearly evenly between those with and without a high net worth. The firm has a comparably small institutional client base that includes businesses, charities and pension plans.

Wealthspire is a massive firm, and it has a wide range of advisory programs to match. Many of these programs have their own minimum investment requirements.

Some of the advisors who work at Wealthspire may have the ability to earn commissions from the sale of insurance products. While this presents a potential conflict of interest, the firm’s fiduciary duty means it must act in clients’ best interests, no matter what.

Wealthspire Advisors Background

Founded in 1995, Wealthspire Advisors has gone through quite a few name changes. It was originally known as Sontag Advisory, but it merged with Bronfman Rothschild in late 2019. Then, in 2020, the two firms decided to do business under the same name, leading to the creation of the current Wealthspire. Today, the firm is run by chairman Howard Sontag.

The services of Wealthspire are geared towards individuals and families who want holistic wealth management. This includes many types of financial planning, as well as investment management.

Wealthspire Advisors Investing Strategy

How your investments are managed by Wealthspire is largely dependent on what you’re looking to get out of your portfolio. In turn, the firm will review with you your risk tolerance, financial goals, time horizon, tax situation, income needs and more before creating a portfolio plan.

Generally speaking, the firm follows a few main tenets. These include being mindful of taxes and investment fees, minimizing investment turnover, completing regular rebalances, instilling strong diversification and more.