Finding a Top Financial Advisor Firm in Orem, Utah
If you're looking for a financial advisor in Orem, Utah, you've got quite a few options to choose from. To help you out, our experts compiled this list of the top firms in Orem. Below, you can read about each firm's client base, advisory services, certifications, minimum balance requirements and more. For a simpler approach, try SmartAsset's free financial advisor matching tool to get connected with up to three advisors in your area.
|Rank||Financial Advisor||Assets Managed||Minimum Assets||Financial Services||More Information|
|1||FirstPurpose Wealth LLC Find an Advisor||$353,390,407||$100,000|| || |
|2||Peterson Wealth Advisors, LLC Find an Advisor||$349,614,386||$500,000|| || |
|3||Squire Wealth Advisors Find an Advisor||$246,549,651||$100,000|| || |
|4||Keeler Thomas Management, LLC Find an Advisor||$259,421,123||No set account minimum|| || |
Minimum AssetsNo set account minimum
|5||Caliber Wealth Management, LLC Find an Advisor||$313,484,869||No set account minimum|| || |
Minimum AssetsNo set account minimum
|6||Blue Barn Wealth Find an Advisor||$150,613,537||No set account minimum|| || |
Minimum AssetsNo set account minimum
How We Found the Top Financial Advisors in Orem, Utah
To find the top financial advisors in Orem, Utah, 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:
FirstPurpose Wealth LLC
FirstPurpose Wealth, a fee-based outfit, is our top-rated advisory firm in Orem. With more advisors and more individual clients than any other firm on our list, FirstPurpose also has the most assets under management (AUM).
New clients generally need $100,000 in investable assets to open and maintain an accout with FirstPurpose. Because advisors may earn commissions for selling certain securities and/or insurance products, FirstPurpose is a fee-based firm. Despite the conflict of interest that commission-based compensation can present, FirstPurpose abides by the fiduciary duty to always put clients first.
The firm's advisory team includes:
- 11 certified financial planners (CFPs)
- Five enrolled agents (EAs)
- Two certified private wealth advisors (CPWAs)
- One chartered financial counselor (ChFC)
- One chartered advisor in philanthropy (CAP)
FirstPurpose Wealth Background
In business since 2000, FirstPurpose Wealth is onwed by employees Adam Taylor, Alex Haviland, Bryant Armstrong, Greg Caldwell, Jason McMullin, James Spainhower, Kenneth Bown, Robert Strasburg, Sam Deaver, Scott Carlson and Timothy Whipple.
FirstPurpose specializes in portfolio management, tax planning, retirement planning and estate planning.
FirstPurpose Wealth Investment Strategy
Like most financial advisory firms, FirstPurpose manages client assets according to their individual financial needs, investment objectives, time horizons and risk profiles. The firm's primary investment strategies are best suited for long-term investors who seek growth through buy-and-hold strategies. The firm looks to maximize returns while minimizing risk, using institutional asset-class mutual funds.
FirstPurpose believes in global diversification and has developed model portfolios based on an asset allocation approach. That approach is guided by the following principles:
- Comprehensive market diversification minimizes risk
- A portfolio's asset allocation determines its results
- Invsetment fees eat into investment profits
Peterson Wealth Advisors, LLC
The next firm on our list is Peterson Wealth Advisors. This firm and its staff of financial advisors work mainly with individuals without a high net worth. However, the firm also has high-net-worth individuals, retirement plans, businesses and charitable organizations as clients.
Peterson Wealth Advisors' minimum investment requirement for new clients is $500,000. The firm is also a fee-only operation, which means it only receives compensation from client-paid fees, not commissions for selling products and services.
The firm's advisory team features six certified financial planners (CFPs), one chartered financial consultant (ChFC) and two chartered retirement planning counselors (CRPCs).
Peterson Wealth Advisors Background
Established in 2008, Peterson Wealth Advisors is currently owned by founder Scott Peterson and investment advisors Jeffrey Lindsay and Mark Whitaker.
While the firm offers both portfolio management and financial planning, its services are geared towards helping people maximize their retirement plans. All assets at the firm are managed on a discretionary basis, meaning Peterson Wealth Advisors has full discretion over the management of client accounts.
Peterson Wealth Advisors Investment Strategy
Peterson Wealth Advisors uses what it calls the "Perennial Income Model," matching the investments of each client with their future retirement income needs. This investment plan will include six separate portfolios that are each designed to provide retirement income for a five-year period, meaning you'll ideally be covered for 30 years.
Advisors won't necessarily limit themselves to any specific investment types. However, most portfolios consist of a combination of exchange-traded funds (ETFs), low-cost mutual funds, fee-based variable annuities and certificates of deposit (CDs). To analyze securities for clients' portfolios, advisors primarily use mutual fund and ETF analysis.
Squire Wealth Advisors
Squire Wealth Advisors, No. 3 on our list of the top Orem firms, has a client base made up of individuals (including those with and without a high net worth), retirement plans, businesses and charitable organizations. The firm employs a team of financial advisors that includes five certified public accountants (CPAs), two personal financial specialists (PFSs), two certified financial planners (CFPs) and one accredited estate planner (AEP).
In most cases, the minimum balance required to open an account at this firm is $100,000. However, if you're looking to own a portfolio of solely fixed-income securities, this minimum increases to $500,000. These requirements may be waived or subject to change, though.
Squire Wealth Advisors is a fee-only firm. In turn, 100% of its earnings come from the fees that clients pay.
Squire Wealth Advisors Background
Squire Wealth Advisors can trace its history back to 1974, when father-son duo DeLance and Joe Squire founded Squire & Company, an accounting and consulting firm. Today, the firm is a wholly owned affiliate of Squire & Company. It began offering financial advisory services in 2000.
This firm offers both investment management and financial planning services to clients. Financial planning typically addresses personal financial goal planning, tax planning, cash flow analysis, retirement planning, education savings planning and more.
Squire Wealth Advisors Investment Strategy
For each client, Squire Wealth Advisors develops an investment policy statement (IPS) that outlines their financial objectives, risk tolerance, time horizon and more. Advisors then use this information to develop, implement, monitor and update the client's personalized investment strategy and portfolio. These portfolios typically consist of a variety of mutual funds, fixed-income securities and exchange-traded funds (ETFs). On occasion, the firm may also use model portfolios.
Squire's investment strategies take a long-term "buy-and-hold" approach to investing. Advisors believe that a proper asset allocation is the best way to ensure long-term gains. Therefore, the firm looks to diversify investments across a wide range of asset classes and avoid frequent trading.
Keeler Thomas Management, LLC
Next up is Keeler Thomas Management,, a firm that mainly works with non-high-net-worth individuals. Aside from these clients, the firm also maintains advisory relationships with high-net-worth individuals and a collection of pension and profit-sharing plans. This firm does not adhere to a minimum balance requirement.
Keeler Thomas employs a sizable team of financial advisors, including include two certified financial planners (CFPs), three financial paraplanner qualified professionals (FPQPs), one chartered financial consultant (ChFC) and two accredited investment fiduciaries (AIFs).
Some Keeler Thomas advisors have the ability to sell certain insurance products and securities on a commission basis. This creates the potential for a conflict of interest to arise. However, the firm is a fiduciary and must act in clients' best interests.
Keeler Thomas Management Background
Keeler Thomas Management was founded in 1987. Richard Jones and John Unice, the firm's two senior partners, principally own the firm. Together, Jones and Unice have around 70 years of experience in the financial services industry.
Keeler Thomas provides clients with services like financial planning, portfolio management and monitoring, pension consulting and comprehensive wealth management. All services entail an analysis and evaluation of the individual needs of each client.
Keeler Thomas Management Investment Strategy
Like many of its contemporaries, Keeler Thomas Management creates investment strategies that aim to meet the individual needs and objectives of clients. Advisors conduct extensive interviews in order to gather information on a variety of personal factors, such as risk tolerance, liquidity needs and time horizon.
The firm uses investment software that is based on modern portfolio theory (MPT) to develop strategies. MPT is an award-winning philosophy that concerns the optimization of returns for a given level of risk. As a result, advisors may recommend mutual funds and exchange-traded funds (ETFs).
Caliber Wealth Management, LLC
The vast majority of Caliber Wealth Management's client base are individuals with less than a high net worth. However, the firm also maintains relationships with high-net-worth individuals, retirement plans and businesses. If you're interested in opening an account with Caliber, there are no minimum investment requirements to worry about.
As a fee-based firm, some of Caliber's advisors have outside affiliations that may allow them to receive insurance and investment product commissions. While this does present a potential conflict of interest, the firm abides by fiduciary duty, legally binding it to act with your best interest in mind.
Caliber Wealth Management Background
Caliber Wealth Management opened in 2014, and it's principally owned by two holding companies: 112 Ventures, LLC and Nuttall Holdings, Inc. David Gardner, one of Caliber's managing partners, is the owner of 112 Ventures, while managing partner Todd Nuttall owns Nutall Holdings. The firm's lone advisory certification belongs to Gardner, an accredited investment fiduciary (AIF).
Caliber offers investment management services to clients, along with traditional financial planning services. The latter touches on topics like retirement, purchase planning, educational savings and more depending on the needs of the client.
Caliber Wealth Management Investment Strategy
Caliber Wealth Management creates custom portfolios based on the financial objectives and needs of each client. The firm also takes into account risk tolerance and investment preferences when formulating portfolio plans. As a result, clients have the option to place reasonable restrictions on how their assets are managed.
When it comes to asset allocation planning, the firm looks to invest in securities that exhibit particularly strong characteristics. To locate these investments, advisors utilize methods of charting, cyclical, fundamental and technical analysis, along with a few other sources of information. However, advisors tend to gravitate toward low-cost, diversified mutual funds and/or exchange-traded funds (ETFs). The firm may also utilize individual stocks, bonds or margins transactions.
Blue Barn Wealth
Blue Barn Wealth rounds out our list of the top-rated financial advisory firms in Orem. This fee-only firm primarily works with individuals and high-net-worth individuals, as well as several pension and profit-sharing plans. There is no minimum account size or initial investment required.
There are four certified financial planners (CFPs) on staff, as well as one chartered financial analyst (CFA) and one certified public accountant. Blue Barn advisors do not earn commissions for selling third-party products or services.
Blue Barn Wealth Background
While the firm currently operates from offices in Orem and Salt Lake City, Blue Barn Wealth was initially founded in Laramie, Wyoming, before relocating to Salt Lake City. Hyrum L. Smith purchased the business, known at the time as Financial Planning Office, in 2015. Two years later, it became a wholly owned subsidiary of HJB Wealth Management, LLC — which Smith owns with Jeff Brimhall. In 2019, it was remaned Blue Barn Wealth.
The firm offers a variety of services to clients, including financial planning, portfolio managment, pension consulting and educational seminars/workshops. Financial planning services may include:
- Cash flow analysis and debt management
- Risk management
- Employee benefits
- Retirement planning
- Education planning
- Estate planning
- Tax strategies
- Charitable giving
Blue Barn Wealth Investment Strategy
When working with a new client, Blue Barn typically prepares an investment policy statement outlining the client's objectives, time horizon, risk tolerance and any account restraints.
Portfolios are designed based on the principles of modern portfolio theory, which seeks the highest possible returns for a given level of risk. The firm targets in diversified, tax-efficient and low-cost investment vehicles, which often include a broad range of mutual funds and exchange-traded funds. A client's portfolio may also include individual stocks, bonds, options and limited partnerships.