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 advisors who serve your area.
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|Rank||Financial Advisor||Assets Managed||Minimum Assets||Financial Services||More Information|
|1||SAX Wealth Advisors, LLC Find an Advisor||$1,360,874,502||$500,000|| || |
|2||Signet Financial Management, LLC Find an Advisor||$959,486,220||$1,000,000|| || |
|3||Hennion & Walsh Asset Management, Inc. Find an Advisor||$424,198,792||Varies based on account type|| || |
Minimum AssetsVaries based on account type
|4||Accretive Wealth Partners, LLC Find an Advisor||$266,437,504||$1,000,000|| || |
|5||Leicht Financial Planning and Wealth Management Find an Advisor||$187,755,541||$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
Leading off our list is SAX Wealth Advisors (SAXWA), a fee-only financial advisory firm. The firm has an account minimum of $500,000. The 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
Signet Financial Management is a fee-based firm that oversees hundreds of millions in assets on a discretionary basis. It is headquartered in Parsippany with offices in Boca Raton and Naples, Florida and Sterling, Virginia. The team holds 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).
Of its total individual clients, most are not of a 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. 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 (CIO) 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.
Hennion & Walsh Asset Management
Hennion & Walsh Asset Management 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 potential conflict of interest, but the firm is bound by its fiduciary duty to act in clients' best interests.
The firm serves individuals with and without a high net worth, business entities, trusts, estates, charitable organizations, businesses 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 partners 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.
Accretive Wealth Partners
Accretive Wealth Partners is a fee-only financial advisor firm. This means that all of its compensation comes from client-paid fees, which signifies that it avoids all third-party sales commissions. The firm works almost entirely with individuals, a slight majority of whom have a high net worth. The firm's lone institutional client is a charitable organization.
For investment services, Accretive generally requires a $1 million minimum, though it may be willing to accept clients with less than that amount. Financial planning clients have no minimums to adhere to.
Accretive Wealth Partners Background
Accretive Wealth Partners commenced operations as an investment advisor in 2019. The firm is owned by three managing partners: Stephen Esposito, Gary Ribe and Eric Furey. Ribe is also the firm's chief investment officer (CIO) and chief compliance officer (CCO).
Investment management and financial planning services are both available on a stand-alone basis at Accretive. However, the firm also offers them as a combo through its wealth management offering.
Accretive Wealth Partners Investing Strategy
When investing client assets, Accretive Wealth Partners generally takes a long-term view on returns. However, some circumstances could cause the firm to trade securities more often. These will usually come from the client side. For instance, the client's investment goals, income needs or time horizon could be factors that play a part.
In most cases, Accretive tends to invest in some combination of ETFs and mutual funds. The firm also looks to diversify client assets so as to avoid being overly reliant on specific areas of the market.
Leicht Financial Planning and Wealth Management
Leicht Financial Planning and Wealth Management is a one-advisor shop. It has millions of dollars in client assets that it manages 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, pension plans, profit-sharing plans, trusts and estates. The minimum investment here is $25,000, though it may be willing to accept clients who have less than that.
Leicht Financial Planning and Wealth Management Background
Andrew Leicht founded Leicht Financial Planning and Wealth Management in 2014, having worked in financial planning since 1997. He is the firm's sole owner and is a certified financial planner (CFP) and chartered financial consultant (ChFC). The firm also has an additional two CFPs on-staff.
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.