Finding the Top Financial Advisors in Pennsylvania
If you’re trying to find a financial advisor in Pennsylvania, SmartAsset can help. We did all the initial research for you, digging through financial firm data and pulling fundamentals such as assets under management (AUM), fees and investment strategy. Then we put the info together, here, for convenient comparing and contrasting. Start your search with this list of the top financial advisor firms in Pennsylvania. Then use SmartAsset’s free financial advisor matching tool to connect with local advisors.
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|Rank||Financial Advisor||Assets Managed||Minimum Assets||Financial Services||More Information|
|1||Veritable, LP Find an Advisor||$17,635,674,729||No set account minimum|| || |
Minimum AssetsNo set account minimum
|2||Sage Financial Group, Inc. Find an Advisor||$2,557,400,497||$1,000,000|| || |
|3||HBKS Wealth Advisors Find an Advisor||$4,247,821,714||No set account minimum|| || |
Minimum AssetsNo set account minimum
|4||myCIO Wealth Partners, LLC Find an Advisor||$9,913,015,185||$1,000,000|| || |
|5||Mill Creek Capital Advisors, LLC Find an Advisor||$8,050,914,709||$5,000,000|| || |
|6||Cornerstone Advisors Asset Management, LLC Find an Advisor||$6,875,542,744||No set account minimum|| || |
Minimum AssetsNo set account minimum
|7||Conrad Siegel Investment Advisors Find an Advisor||$6,170,054,239||$500,000|| || |
|8||Fort Pitt Capital Group, LLC Find an Advisor||$4,058,230,003||$500,000|| || |
|9||JFS Wealth Advisors, LLC Find an Advisor||$2,805,307,383||$600,000|| || |
|10||McAdam, LLC Find an Advisor||$829,743,892||No set account minimum|| || |
Minimum AssetsNo set account minimum
What We Use in Our Methodology
To find the top financial advisors in Pennsylvania, we first identified all firms registered with the SEC in the state. 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.
Topping our Pennsylvania list is Veritable, a fee-only firm based in Newtown Square, a city in the southeast corner of the Keystone State. Veritable manages billions in assets for clients, most of whom are high-net-worth individuals. There are also institutional clients, including pooled investment vehicles, charitable organizations and corporations.
Dozens of advisors work at the firm. They include chartered financial analysts (CFAs) and certified public accountants (CPAs), among other credentials.
There is officially no minimum account size at Veritable, but in practice, most of the firm’s clients have at least $20 million in assets. This is why nearly all of the firm’s individual clients are high-net-worth. Fees for investment management are based on a percentage of assets under management.
Michael Stolper founded in Veritable in 1986 and is still responsible for the overall management of the firm. Veritable has gone through various merger activities throughout its existence. Ownership is split between senior employees of the firm and AMG Wealth Partners, who purchased its stake in 2012.
Services at the firm include investment advising, portfolio management financial planning, budgeting, estate planning, tax planning and insurance planning.
Veritable Investment Strategy
Advisors at Veritable use a few principles to build client portfolios. The most basic is that all clients are different and have different needs, so a portfolio will need to be customized to fit those needs and individual goals. Always paying attention to a client’s risk tolerance is also at the top of the list.
Sage Financial Group
Sage Financial Group is a West Conshohocken-based financial advisor firm. The firm's client base is almost entirely comprised of individuals, with high-net-worth individuals outnumbering their non-high-net-worth counterparts. Sage Financial also works with retirement plans, charities and pooled investment vehicles. The firm's minimum investment requirement for new clients is $1 million.
The team of advisors at this fee-only firm is over a dozen people strong. This group includes nine certified financial planners (CFPs), six certified public accountants (CPAs) and one chartered retirement planning counselor (CRPC).
Sage Financial Group Background
Sage Financial Group has been in business for 30 years, having been founded in 1991. It was established by David M. Cohn, who has since passed away, and current co-presidents Alan J. Cohn and Stephen L. Cohn. Today, the firm is owned by Alan Cohn and Stephen Cohn, as well as executive wealth managers Mitchell Bednoff and John Sion.
The services at Sage Financial are quite robust. They include investment management, general financial planning, tax planning, trust and estate counsel, insurance planning and more.
Sage Financial Group Investment Strategy
Sage Financial Group primarily invests in client assets for the long term. As a result, the firm tends to hold onto investments for a year or longer, which also helps to reduce the transactional costs associated with buying and selling securities. Fundamental analysis is the main driver behind the firm's investment decisions, and it involves analyzing investments by comparing current and past data and forecasting trends for the future.
HBKS Wealth Advisors
Erie-based HBKS Wealth Advisors has one of the largest advisor teams on this list. Though the firm also has offices out of state, the team in Erie includes 11 certified financial planners (CFPs), among other certifications.
The fee-based firm manages a significant amount in assets. Clients are mostly individuals, most of whom do not have a high net worth. Institutional clients include pension and profit-sharing plans, charitable organizations and corporations.
Fees for investment management are based on a percentage of assets under management. Financial planning fees are either hourly or fixed. Some advisors at the firm are registered as broker-dealers and may earn commissions for selling securities. This could present a potential conflict of interest, but when serving as an advisor they must act in your best interest.
HBKS Wealth Advisors Background
HBKS Wealth Advisors was founded in 2001. It is a wholly owned subsidiary of HBK Sorce Financial, LLC, which is wholly owned by HBK Sorce Holdings, LLC. Hill, Barth & King Financial Holdings, LLC is the majority owner of the latter.
Services offered include investment management, financial planning, retirement planning, investment planning, education savings, protection planning, estate planning, income tax planning and ongoing planning.
HBKS Wealth Advisors Investment Strategy
The advisors at HBKS build portfolios using a variety of investments, including mutual funds, exchange-traded funds (ETFs), stocks, bonds, investment contracts, insurance, annuities, alternative investments and other vehicles. Strategies include both long-term and short-term purchases, plus short sales, margin transactions and option writing.
myCIO Wealth Partners
myCIO Wealth Partners is a fee-only firm in Philadelphia. All of the firm’s individual clients have a high net worth, which makes sense given that the firm has a $1 million minimum account size. There are also institutional clients at myCIO, including charitable organizations and corporations.
A full roster of financial certifications is available at this firm. In fact, its the team includes chartered financial analysts (CFAs), certified financial planners (CFPs), accredited investment fiduciaries (AIFs), certified investment management analysts (CIMAs) and certified public accountants (CPAs).
Fees at myCIO are based on a percentage of assets under management for investment advisory services. Financial planning and consulting fees are charged a fixed or hourly fee.
myCIO Wealth Partners Background
myCIO Wealth Partners was founded in 2005. It is managed by partners James Joseph Biles, David Edmund Lees and Paul Joseph Bracaglia. Affiliated Managers Group, Inc. bought an equity stake in 2005, and the rest is owned by the aforementioned partners.
Services offered include investment advisory, private investment funds, financial planning, consulting, estate planning and insurance planning.
myCIO Wealth Partners Investment Strategy
Advisors at myCIO Wealth Partners conduct fundamental and technical analysis to make investment choices. They use both short- and long-term purchases, meaning investments will be held for a variable amount of time. The firm may also engage in strategies like short sales, margin transactions and options trading.
Mill Creek Capital Advisors
Mill Creek Capital Advisors is a fee-only financial advisor firm managing the third-largest amount in assets on this list. All of the firm’s individual clients are high-net-worth, likely due to the firm’s $5 million minimum account size. There are also institutional clients at Mill Creek, including pooled investment vehicles, pension and profit-sharing plans, charitable organizations and businesses.
There are over two dozen advisors on staff at Mill Creek. The team boasts certification like chartered financial analyst (CFA), certified financial planner (CFP), chartered alternative investment analyst (CAIA), accredited investment fiduciary (AIF) and certified public accountant (CPA).
Mill Creek Capital Advisors Background
Mill Creek Capital Advisors was founded in 2006. Its principal owners are CEO Joshua Gross, president Richard Lunsford, chief investment officer (CIO) Thomas Chapin, chief operating officer (COO) Stephen Waltrich and investment officers Michael Jordan, Dave Logan, Kevin Keating, Katie Poole, Brian Maxwell and Pat Burke. Each of these owners serve either as executives or advisors at Mill Creek.
Services include investment advising, tax issue evaluation, cash flow analysis, estate planning, retirement planning, financial planning, philanthropic planning and financial concierge services.
Mill Creek Capital Advisors Investment Strategy
Mill Creek Capital Advisors believes in broad diversification both across and within asset classes. It also focuses on the long term, looking to buy and hold investments rather than trading in and out of various markets in search of results that may only hold for the short term.
Cornerstone Advisors Asset Management
Cornerstone Advisors Asset Management, a fee-based firm, has billions in assets under management. There are several advisors at this Bethlehem-based firm. The team holds many certifications, including accredited investment fiduciary (AIF), chartered retirement plan specialist (CRPS), chartered financial analyst (CFA), certified financial planner (CFP), chartered financial consultant (ChFC), and more.
Clients of Cornerstone include a nearly even mix of high-net-worth and other individuals. There are also a substantial number of institutional clients, such as pension and profit-sharing plans, charitable organizations, government entities, insurance companies and corporations.
There is no minimum account size at this firm. Some advisors may earn commissions for selling financial products. This is a potential conflict of interest, but the firm's fiduciary duty requires it to always act in the best interest of the client.
Cornerstone Advisors Asset Management Background
Cornerstone Advisors Asset Management was founded in 1998. The firm is 100% owned by employees through an employee stock ownership plan.
Services include asset management, investment policy management, risk assessment, investment advisory, financial planning, insurance planning, estate planning, tax analysis and retirement income planning.
Cornerstone Advisors Asset Management Investment Strategy
Mutual funds make up the majority of the investment choices at Cornerstone Advisors Asset Management. As a matter of fact, most of its clients' money is invested in mutual funds. Other investments typically made by the firm include stocks, cash and investments with third party money managers.
Conrad Siegel Investment Advisors
Conrad Siegel Investment Advisors (CSIA) is a fee-only firm in Harrisburg with multiple advisors on staff. This team includes certified financial planners (CFPs), chartered financial consultants (ChFCs), accredited investment fiduciaries (AIFs), chartered financial analysts (CFAs), enrolled agents (EAs) and more.
CSIA manages billions in client assets. Its client base is mostly comprised of individuals, a little more than half of whom are non-high-net-worth. There are also institutional clients on the rolls, including pension and profit-sharing plans, charitable organizations, government entities, insurance companies and corporations.
There is technically no minimum account size at CSIA, but the individual minimum annual fee of $5,000 to $9,000 means this firm's services may be cost-prohibitive for those with less than $500,000.
Conrad Siegel Investment Advisors Background
Conrad Siegel Investment Advisors was founded in 2002. It is a wholly owned subsidiary of Conrad M. Siegel, Inc., and its team of partners is 20 members strong.
Services offered include:
- Financial planning
- Educational services
- Investment management
Conrad Siegel Investment Advisors Investment Strategy
Low-cost, passive investing with an orientation towards value is the name of the game for CSIA. It also provides Siegel Select Portfolios, a managed portfolios program, to some investors. Most of the firm’s investments are in mutual funds, with stocks making up a small percentage of the assets.
Fort Pitt Capital Group
Fort Pitt Capital Group is a Pittsburgh-based advisor. Clients of the fee-only firm are mostly non-high-net-worth individuals, along with some who have a high net worth. Institutional clients include investment companies, pension and profit-sharing plans, charitable organizations, government entities, insurance companies and corporations. The minimum account size here is $500,000, though the firm may occasionally accept those with less than that.
The firm has several advisors on staff, including many who are certified financial planners (CFPs) and accredited investment fiduciaries (AIFs). Other certifications include chartered financial analyst (CFA) and certified public accountant (CPA).
Fort Pitt Capital Group Background
Fort Pitt Capital Group was founded in 2015. The firm is a part of the Focus Financial Partners, LLC partnership. Specifically, it is a wholly owned subsidiary of Focus Operating, LLC. Focus is a nationwide network of indepenent firms.
Services include wealth management, investment management, financial planning, estate planning, education planning, business succession planning and insurance needs.
Fort Pitt Capital Group Investment Strategy
Fort Pitt Capital Group has put together a list of composite portfolios, which you can find below. Each of them have their own unique investment strategy, though these are subject to change based on your individuals needs and changing market conditions.
- Total return
- Taxable total return
- Total return under $250,000
- Growth-strategic asset allocation
- Moderate growth-strategic asset allocation
- Balanced-strategic asset allocation
- Conservative-strategic asset allocation
- Investment-grade fixed-income
- Bond mutual fund
- Total retail
JFS Wealth Advisors
JFS Wealth Advisors is a fee-based firm with a relatively sizable staff of advisors. The team includes 14 certified financial planners (CFPs), nine certified public accountants (CPAs), four certified investment management analysts (CIMAs), two accredited investment fiduciaries (AIFs), one certified financial plan advisor (CPFA), one certified retirement plan specialist (CRPS) and one qualified 401(k) administrator (QKA).
The firm manages billions in client assets. Clients are mostly individuals, with around 75% of those individuals being non-high-net-worth. Institutional clients include pension and profit-sharing plans, charitable organizations, government entities and corporations.
The minimum account size at this firm is $600,000, though it may waive or adjust this requirement. Some advisors earn commissions for selling insurance as well. While this could present a potential conflict of interest, the firm and its advisors must abide by their fiduciary duty.
JFS Wealth Advisors Background
JFS Wealth Advisors is the successor to a firm founded in 1986. It is part of the Focus Financial Partners, LLC partnership, which is technially a wholly owned subsidiary of Focus, LLC. Focus Financial is a large, multi-state financial services company that works with independent advisory firms like JFS.
Services at JFS include wealth management services, investment advisory services, financial planning, personal financial statements, cash management, investment planning, retirement planning and estate planning.
JFS Wealth Advisors Investment Strategy
There is an investment committee at JFS Wealth Advisors that picks investments for clients’ portfolios. These choices are based on the firm's proprietary research, as well as independent and third-party research that it integrates in. The committee meets at least once a month to readjust client portfolios as needed. Client money is heavily invested in mutual funds, with the rest split between stocks, bonds, cash, annuities and other investments.
McAdam is a Philadelphia-based firm. It's also the smallest firm in terms of assets on this list, though it has quite a large advisory staff. The firm's leadership team includes two certified financial planners (CFPs).
Clients of McAdam include individuals with and without a high net worth, though the latter far outnumbers the former. The firm's institutional clients include businesses and retirement plans. There is no set account minimum for new clients here.
As a fee-based firm, certain advisors at McAdam can sell securities and insurance products on a commission basis. While this creates a potential conflict of interest, the firm's fiduciary duty requires it to act in clients' best interests no matter what.
McAdam is a fairly young firm, as it was created in 2014. The firm is wholly owned by Michael McAdam, who also acts as the firm's CEO and principal. McAdam has years of experience in financial services.
Financial planning and investment management services are both available from this firm. The former can cover topics like retirement planning, risk management, tax planning, insurance planning, estate planning, business planning, cash flow forecasting and more.
McAdam Investment Strategy
McAdam typically invests client assets in mutual funds, ETFs, individual stocks and bonds and with independent investment managers. The firm may also recommend investing in pooled investment vehicles, like hedge funds.
Which types of securities exist within your portfolio will depend on what type of investor you are. To find this out, your advisor will meet with you to discuss your goals and needs. Through these discussions, the firm will also identify your ever-important risk tolerance, time horizon and income needs. These factors will dictate the complexion of your asset allocation.