Finding a Top Financial Advisor Firm in Parsippany, New Jersey
Choosing a financial advisor just got a lot easier. To help you focus your search, we collected a number of factors you should consider - fundamentals such as assets under management (AUM), fee basis and investment strategy. Then we put all the info together, here, for convenient comparing and contrasting. Start your search with this list of the top financial advisor firms in Parsippany, New Jersey. Then use SmartAsset’s free financial advisor matching tool connect with local advisors.
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|Rank||Financial Advisor||Assets Managed||Minimum Assets||Financial Services||More Information|
|1||SAX Wealth Advisors, LLC Find an Advisor||$1,093,241,986||$500,000|| || |
|2||Signet Financial Management, LLC Find an Advisor||$809,599,511||No set account minimum|| || |
Minimum AssetsNo set account minimum
|3||Macro Consulting Group Find an Advisor||$485,000,000||Varies based on account type|| || |
Minimum AssetsVaries based on account type
|4||Hennion & Walsh Asset Management, Inc. Find an Advisor||$315,604,872||Varies based on account type|| || |
Minimum AssetsVaries based on account type
|5||Wechter Feldman Wealth Management, Inc. Find an Advisor||$349,773,987||Varies based on account type|| || |
Minimum AssetsVaries based on account type
|6||Leicht Financial Planning and Wealth Management Find an Advisor||$160,847,262||$25,000|| || |
What We Use in Our Methodology
To find the top financial advisors in Parsippany, 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.
SAX Wealth Advisors
SAX Wealth Advisors (SAXWA) is a fee-only financial advisory firm. The firm has an account minimum of $500,000. Because of this, a majority of the firm’s client base consists of non-high-net-worth individuals. SAX Wealth Advisors also works with high-net-worth individuals, qualified retirement plans, trusts, charitable organizations, corporations and small businesses.
The advisory team at this firm multiple professional financial certifications between them, including certified financial planner (CFP), certified public accountant (CPA), accredited investment fiduciary (AIF) and chartered financial consultant (ChFC).
SAX Wealth Advisors Background
SAX Wealth Advisors was founded in 1999. The firm is wholly owned by an affiliated accounting firm, SAX LLP.
The firm provides investment management services, employee benefit plan services, comprehensive financial planning, specialized consulting services and the use of independent managers.
SAX Wealth Advisors Investment Strategy
SAXWA's services are based on long-term investment strategies that incorporate Modern Portfolio Theory principles. The firm's investment approach adopts the belief that markets are most "efficient" over periods of timeand long-term returns are determined mainly by intentional asset allocation, which is why the firm stays away from "timing the market" or stock picking.
SAXWA recommends globally-diversified portfolios, principally through the use of passively managed asset class mutual funds. The firm may select or recommend portfolios of securities, principally broadly-traded open-end mutual funds or fixed-income securities to implement this strategy.
Signet Financial Management, LLC
Signet Financial Management, LLC is a fee-based firm that oversees hundreds of millions in assets on a discretionary basis. It is headquartered in Parsippany with offices in Fort Lauderdale and Naples, Florida; Reston, Virginia and Chapel Hill, North Carolina. The team represents various professional financial designations, such as certified financial planner (CFP), masters in business administration (MBA), chartered financial analyst (CFA), certified private wealth advisor (CPWA), certified wealth strategist (CWS) and certified retirement counselor (CRC). (Some advisors may have more than one credential.)
Of its total individual clients, many are not of high net worth. Signet Financial’s other clients include trusts, estates, charitable organizations, businesses and retirement plans. The firm requires at least $1,000,000 to invest in particular strategies but otherwise does not have a minimum. It does, however, have a minimum annual fee of $5,500, which may not be cost-effective for balances smaller than $500,000.
Signet Financial Management Background
Originally formed as Krasney Financial, LLC in 1988, Signet Financial changed its name to its current one in 2017. Its current owners are President Kenneth Etter, CEO and Chief Investment Officer Eugene Yashin, Chief Investment Strategist Steve Tuttle and Partner Shawn Hirsch.
The firm offers customized investment advisory services primarily on a discretionary basis. It may engage a sub-advisor to help manage accounts. Signet also offers financial planning covering investment and non-investment topics on a consulting or stand-alone basis - and sells insurance products. And it works with retirement plan sponsors.
Signet Financial Management Investing Strategy
Signet says that it doesn’t follow short-term trends or try to time the market. Instead, it generally uses a long-term investment strategy, holding securities for more than a year and selling to rebalance or to meet client cash needs. In what it calls its asset allocation programs, the firm offers five tracks: conservative, balanced, moderate growth, all equity, income and fixed income only. These programs invest in no-load mutual funds, exchange traded funds (ETFs), fixed income assets and equity securities.
The firm also offers equity-based portfolios, which take a quantitative approach that is largely based on computer modeling. This methodology is combined with fundamental analysis and applied to top-down value/growth, large/small market capitalization and sector allocations.
Macro Consulting Group
Macro Consulting Group has millions in assets under management (AUM). Its advisors, who may also be brokers or insurance agents, include certified financial planners (CFPs), one chartered financial analyst (CFA) and one certified investment management analyst (CIMA). (Some advisors have more than one credential.) The firm also has an officer dedicated only to compliance.
Macro Consulting’s client base includes both individuals who are and aren’t high net worth. The firm also serves pension and profit-sharing plans, business entities, trusts, estates and charitable organizations. Its minimum for investment management is $200,000 for its flat-fee program and $800,000 for accounts that carry an asset-based fee.
Macro Consulting Group Background
Mark Cortazzo founded the firm in 1995 and merged it with a firm with the same name in 2017. He is the primary owner, while two employees have small stakes.
Macro Consulting offers investment advisory services on either a discretionary or non-discretionary basis. Firms typically do this for a fee based on assets, but Macro Consulting has a flat-fee program for accounts smaller than $1 million. It also provides stand-alone or ongoing financial planning, variable annuity reviews and insurance products. It may recommend an independent manager to investment advisory clients and it may itself work as a sub-advisor to other investment advisors.
Macro Consulting Group Investment Strategy
The firm uses charting, fundamental, technical and cyclical methods of analysis. It also uses long-term, short-term and trading strategies. It generally puts clients in mutual funds, equities and exchange-traded funds (ETFs). Mutual funds and individual stocks are the most common investments.
Hennion & Walsh Asset Management
Hennion & Walsh Asset Management, Inc. is a fee-based firm that oversees hundreds of millions in assets. Certain of the firm's representatives may be licensed to sell insurance products or securities on a commission basis. This presents a conflict of interest, but the firm is bound by its fiduciary duty to act in clients' best interests.
The firm serves individuals, business entities, trusts, estates, charitable organizations, investment companies and pension and profit-sharing plans. Participants in its PMP wrap fee program need to have a minimum of $50,000 in assets and participants in the Personalized UMA Programs must have at least $100,000 for investment advisory services.
Hennion & Walsh Asset Management Background
Hennion & Walsh Asset Management became registered as an investment advisor in 2003. The firm is owned in equal part by Richard Hennion and William Walsh.
The firm offers financial planning services, portfolio management services (including a wrap fee program mentioned above), pension consulting services and a selection of other advisors.
Hennion & Walsh Asset Management Investing Strategy
Hennion & Walsh uses fundamental and technical analyses when evaluating securities. It uses long-term purchases, short-term purchases and trading as investment strategies. The firm primarily allocates client assets among stocks, options, bonds, fixed-income securities, mutual funds, ETFs, ETNs and/or UITs.
Wechter Feldman Wealth Management, Inc.
While there is no longer a Wechter at Wechter Feldman Wealth Management, Inc., there is a Feldman. David Feldman, to be precise, who has owned the firm since 2010. He, along with multiple other advisors, manages hundreds of millions in assets on a mostly discretionary basis.
All advisors at the firm are certified financial planners (CFPs). Among them, there are also a certified senior advisor (CSA), accredited wealth management advisor (AWMA), enrolled agent with the IRS (EA) and retirement income certified professional (RICP) - and two licensed insurance agents. The firm serves both high-net-worth and non-high-net-worth individuals, though the current minimum for advisory services ranges from $1 million to $2 million. It also works with pension and profit-sharing plans, corporations and other business entities.
Wechter Feldman Wealth Management Background
The firm was first formed as Wechter Financial Services, Inc. in 1984. Feldman acquired it and added his name in 2010, as just stated above. He is the majority owner and serves as president and senior wealth manager. Michael Green, executive vice president and senior wealth manager, also owns shares.
Wechter Feldman Wealth’s primary business is investment management, which it does on a discretionary and non-discretionary basis. It also offers stand-alone financial planning (charged at an hourly rate) and non-security products, including life insurance, long-term care insurance and fixed annuities.
Wechter Feldman Wealth Management Investing Strategy
The company offers seven portfolio models, which range in risk from conservative to aggressive and are reviewed and updated at least once a year. Here are the models and their risk level and asset allocation:
|Portfolio Model||Risk Level||Asset Allocation|
|College Preservation||Conservative||25% Fixed income; 75% Cash and cash equivalents|
|College Income||Conservative||15% Equities; 45% Fixed income; 40% Cash and equivalents|
|Capital Preservation||Conservative||30% Equities; 55% Fixed income; 5% Cash and equivalents; 10% Certificates of Deposit (CDs)|
|Current Income||Moderately conservative||43% Equities; 48% Fixed income; 4% Cash and equivalents; 5% CDs|
|Balanced Growth & Income||Moderate||59% Equities; 37% Fixed income; 4% Cash and equivalents|
|Long-Term Growth||Moderately aggressive||75% Equities; 21% Fixed income; 4% Cash and equivalents|
|Maximum Growth||Aggressive||89% Equities; 7% Fixed income; 4% Cash and equivalents|
In implementing asset allocations, Wechter Feldman Wealth applies technical, momentum and fundamental analyses. It chooses from more than 15,000 mutual fund choices and 1,000 exchange-traded funds (ETFs). When appropriate, it also selects from individual bonds, unit investment trusts (UITs), CDs and U.S. Treasuries.
Leicht Financial Planning and Wealth Management
Leicht Financial Planning and Wealth Management is a one-advisor shop. It has millions in assets on a discretionary basis. All accounts participate in the firm’s wrap fee program, which collects one all-inclusive fee that covers management, brokerage and custodial costs.
The firm works with individuals who are and aren’t high net worth, charitable organizations, banks, thrift institutions, pensions, profit-sharing plans, trusts, estates, state and municipal government entities, corporations and other business entities. The minimum investment is $25,000.
Leicht Financial Planning and Wealth Management Background
Andrew Leicht founded the firm in 2014, having worked in financial planning since 1997. He is the sole owner and is a certified financial planner (CFP) and chartered financial consultant (ChFC).
As mentioned earlier, the firm offer discretionary investment advisory services through a wrap fee program that the firm sponsors and manages. It also offers stand-alone financial planning, insurance products and brokerage services (through LPL Financial, with which Leicht Financial is affiliated).
Leicht Financial Planning and Wealth Management Investing Strategy
Portfolios managed by Leicht are generally invested in individual stocks or bonds, exchange traded funds (ETFs), options, mutual funds and other public and private securities or investments. Once an asset allocation is designed and implemented, the firm will review the portfolio at least quarterly and rebalance if necessary. In evaluating investments, Leicht uses fundamental, technical and cyclical methods of analysis.