Finding a Top Financial Advisor Firm in Pittsford, New York
If you are looking for a new financial advisor firm to work with in Pittsford, New York, SmartAsset's list of the top firms in the city is a great place to start. Within each entry, you’ll find information about the firm’s typical services, account minimums, client base, investing strategies and more. Use SmartAsset’s financial advisor matching tool to be connected with up to three local fiduciary advisors.
|Rank||Financial Advisor||Assets Managed||Minimum Assets||Financial Services||More Information|
|1||QCI Asset Management, Inc. Find an Advisor||$ 3,770,088,376||No set account minimum|| || |
Minimum AssetsNo set account minimum
|2||Alesco Advisors LLC Find an Advisor||$ 3,540,629,605||Varies based on account type|| || |
Minimum AssetsVaries based on account type
|3||Karpus Investment Management Find an Advisor||$ 3,443,416,125||Varies depending on account type|| || |
Minimum AssetsVaries depending on account type
|4||LVW Advisors, LLC Find an Advisor||$ 1,838,202,077||$25,000 minimum annual fee|| || |
Minimum Assets$25,000 minimum annual fee
|5||Generation Capital Management LLC Find an Advisor||$ 666,442,052||$100,000|| || |
|6||Ashford Advisors, LLC Find an Advisor||$ 541,731,759||$10,000,000|| || |
|7||Armbruster Capital Management, Inc. Find an Advisor||$ 465,067,035||No set account minimum|| || |
Minimum AssetsNo set account minimum
|8||Candace Shira Associates, LLC Find an Advisor||$ 308,930,969||No set account minimum|| || |
Minimum AssetsNo set account minimum
|9||High Probability Advisors, LLC Find an Advisor||$ 204,986,090||$500,000|| || |
|10||Professional Financial Find an Advisor||$ 162,102,083||Varies based on account type|| || |
Minimum AssetsVaries based on account type
How We Found the Top Financial Advisor Firms in Pittsford, New York
For this list, we only considered Pittsford firms that are registered with the U.S. Securities and Exchange Commission (SEC). We limited our list to SEC-registered firms because they are required to abide by a fiduciary duty. Next, we removed any firms that either didn’t offer financial planning services, didn’t manage individual accounts or had disclosures on their Form ADV. The remaining firms are listed below, ordered from the most assets under management (AUM) to the least. All information is accurate as of the writing of this article.
QCI Asset Management, Inc.
With $3.77 billion in assets under management (AUM), QCI Asset Management, Inc. comes in at the top of our list. A fee-only firm, QCI employs 13 financial advisors, five of whom hold a chartered financial analyst (CFA) designation.
About 62% of the firm’s individual client base is investors who do not have high net worths. The firm works with pension and profit-sharing plans, businesses, charitable organizations, government entities, banks and investment companies.
QCI Asset Management Background
QCI Asset Management opened in 1975, making it the oldest firm on this list. It’s an employee-owned, independent firm that’s headquartered in southern Pittsford.
Clients of this firm will gain access to both investment management and financial planning services. The latter includes estate planning, retirement planning, education fund planning, tax planning, cash flow management, financial objective determination, insurance review and more.
QCI Asset Management Investing Strategy
QCI tends to stick to equity and fixed-income security investing strategies. When it comes to equities, the firm combines long- and short-term philosophies by creating a “foundation of solid core holdings, complemented by stocks that offer timely opportunities,” according to its website. It will diversify your stock holdings between different market sectors and industries.
The firm’s fixed-income investments are chosen based on its evaluation of bonds’ interest rate cycles. Through these insights, QCI can select a duration target for a bond to figure out whether or not it’s a good fit for your time horizon.
Alesco Advisors LLC
Like QCI Asset Management, Alesco Advisors LLC has 13 advisors on staff. They include four chartered financial analysts (CFAs), one certified public accountant (CPA) and one accredited investment fiduciary (AIF).
This fee-only firm has a $3 million minimum account size, which may be relaxed. The minimums for wrap fee programs and model programs are much lower and also negotiable. The Schwab Performance Technologies program comes with a $20,000 opening minimum (you must have a relationship size of at least $50,000), but is also negotiable. But as the $3 million minimum would suggest, Alesco primarily works with high-net-worth individuals. It also maintains relationships with (non-high-net-worth) individuals, charitable organizations, pension and profit-sharing plans, businesses, defined contribution plans and banks.
Alesco Advisors Background
Alesco Advisors was founded in 2000 by James Gould. The majority owner, Gould currently serves as the independent firm’s president. He has been working in the financial services industry since 1980.
Alesco primarily offers investment management services that are tailored separately for individual and institutional investors. The firm can also aid retirement plan sponsors in managing plans through fiduciary services, plan analysis and more.
Alesco Advisors Investing Strategy
Your personal needs will dictate what your portfolio at Alesco will look like. In customizing portfolios, the firm takes into account clients' tolerance for risk, income needs, time horizon, tax situation and desired goals. Once the firm feels secure in knowing what type of investor you are, it will build an appropriate asset allocation.
When it comes to security selection, the firm primarily uses index funds and index-based mutual funds and exchange-traded funds (ETFs). Alesco does its own proprietary analysis to determine which securities are best for you.
Karpus Investment Management
New to the list in 2020, Karpus Investment Management joins at the #3 spot. The fee-only firm has headquarters in Pittsford and a branch office in Naples, Florida. With a $1,000,000 minimum for cash investment management services, the majority of individual clients have high net worths. The minimum for asset management services is lower at $500,000. That said, all minimum requirements may be reduced at the practice's discretion.
Karpus Investment also works with individuals who are not as wealthy, pension and profit-sharing plans, 401(k) plans, trusts, estates, charitable organizations, corporations and other business entities. In addition to investment management, the firm offers financial planning and foundation services, advises wrap fee programs and provides model portfolios to certain investing platforms.
Karpus Investment Management Background
George Karpus founded his namesake firm in 1986. The majority owner, he serves as the firm's chief investment strategist and chairman of the board. Six other employees have small stakes.
Karpus Investment Management Investing Strategy
Karpus Investment will actively manage your portfolio, using a multi-manager approach. With 12 members on its investment committee, the firm offers broad diversification - and the ability to invest in managed funds at a discounted prices. Overall, advisors have a value orientation, which implies investing for the long term, but may use short-term strategies at times when appropriate.
LVW Advisors, LLC
The 10 advisors at LVW Advisors, LLC are responsible for the management of more than $1.8 billion in investable assets. This fee-only firm is the last firm on our list with over $1 billion in assets under management (AUM).
The team includes three certified financial planners (CFPs), two chartered financial analysts (CFAs), two certified investment management analysts (CIMAs) and two MBAs.
While most firms institute a minimum investable asset requirement for new clients, LVW chooses to instead use a $25,000 minimum annual fee. This makes the firm’s services cost prohibitive for lower asset balances.
Individuals and high-net-worth individuals are the most common clients of LVW Advisors. However, the firm works with businesses, charitable organizations, pension and profit-sharing plans and other institutions.
LVW Advisors Background
LVW Advisors has been in business since 2011. Lori Van Dusen, the firm’s current CEO, founded the firm after spending more than two decades in financial services. Today, the firm is a wholly owned subsidiary of Focus Operating, LLC, making it part of the Focus Financial network of advisory firms.
The services at this firm can be divided into four distinct categories: comprehensive financial planning, investment management, retirement plan advisory services and corporate services.
LVW Advisors Investing Strategy
LVW believes that deliberate asset allocations and broad diversification are key to keeping a portfolio in line with clients’ needs and goals. In turn, the firm will allocate your money with an emphasis on consistent performance throughout all market cycles.
The advisory typically uses a range of securities. These include mutual funds, exchange-traded funds (ETFs), equities, hedge fund and private equity fund managers and independent managers. Should your portfolio include independent managers, your money may be invested in securities other than what LVW lists.
Generation Capital Management LLC
At Generation Capital Management LLC (GCM), there are almost four times the number of non-high-net-worth individual clients as those with a high net worth. Charitable organizations, pension and profit-sharing plans, government entities and pooled investment vehicles also work with the firm. This is a fee-only firm.
In order to become a client of Generation Capital Management, you’ll need at least $100,000 ready to invest. Like many firms, though, Generation Capital Management says that it may waive this requirement under certain circumstances.
Two financial advisors are employed at GCM’s offices in Pittsford. This group includes one chartered financial analyst (CFA) and one certified divorce financial analyst (CDFA).
Generation Capital Management Background
Scott Nasca, Generation Capital Management’s president and chief investment officer (CIO), founded the firm in 2003. Nasca owns GCM, and was previously employed as a principal at Karpus Investment Management (see above) for 25 years.
The services at this firm revolve around pairing your financial planning needs with an appropriate investment portfolio. GCM employs a holistic financial planning suite that includes short- and long-term goal planning, income tax considerations, risk-adjusted investment planning, risk management, insurance review, financial statement preparation and retirement planning.
Generation Capital Management Investing Strategy
At the core of its strategy, Generation Capital Management looks to reduce risk in client portfolios through the implementation of broad diversification. This is done not only across domestic markets, but global ones as well. The firm also utilizes a top-down macroeconomic approach that believes the market generally moves upward.
Ashford Advisors, LLC
Most of the firms on this list work with individual clients both above and below the high-net-worth threshold. However, Ashford Advisors, LLC distinguishes itself by working exclusively with high-net-worth individuals. The fee-only firm maintains this focus by requiring a $10 million minimum family relationship.
Ashford has three financial advisors on staff and charges performance-based fees as part of its fee schedule. It does not have a website.
Ashford Advisors Background
Ashford Advisors is an independent firm that’s owned by a combination of two employees. Principal Patrick D. Martin is the majority owner, while chief investment officer (CIO) Jeremiah A. Thisse holds a minority stake. The firm was formed in 2001.
The firm’s standard services encompass various financial planning and investment management offerings. For example, you can take advantage of:
- Tax planning
- Retirement planning
- Insurance analysis
- Investment planning
- Estate planning
- Asset allocation creation
- Individual needs review
Ashford Advisors Investing Strategy
At the forefront of Ashford’s investment ideology is an aim to create an asset allocation that aligns with a client’s needs. To do that, the firm determines and takes into account the client's risk tolerance, time horizon and other factors. The practice typically uses such securities as equities, fixed-income securities, cash, mutual funds and exchange-traded funds (ETFs).
Armbruster Capital Management, Inc.
Fee-only Armbruster Capital Management, Inc. does not have a minimum opening account size. Despite this fact, it works with more high-net-worth individuals than non-high-net-worth individuals (168 to 100). It also serves pension and profit-sharing plans, charitable organizations, businesses and other investment advisors.
The firm employs six advisors. Three are chartered financial analysts (CFAs) and one certified public accountant (CPA).
Armbruster Capital Management Background
Armbruster Capital Management has been in business since 2009, when it was founded by Mark Armbruster, the firm’s current president. Armbruster is the majority owner of the firm and has 23 years of experience working in financial services.
For individuals, the firm can provide investment management and financial planning services. The latter includes:
- Portfolio construction
- Insurance review
- Estate planning
- Tax planning
- Goal-based financial plans
Armbruster Capital Management Investing Strategy
Armbruster Capital Management takes a long-term, buy-and-hold approach. This means that the firm prefers not to actively trade client assets, as this can drive up transaction costs and increase risk. Global diversification and carefully considered asset allocations are also important to the firm. Should returns or other factors skew your originally intended asset allocation, the firm says it will rebalance your portfolio.
Candace Shira Associates, LLC
Candace Shira Associates, LLC is a completely individual-centric firm. Its client base solely consists of nearly 480 clients, with about a 60-40 split between individuals and high-net-worth individuals, respectively. There are no minimum investable asset requirements here.
The three-person advisory team at this firm includes one certified financial planner (CFP). These employees manage $309 million in assets.
As a fee-based firm, Candace Shirt Associates has an advisor who also sells insurance products. Although this presents a potential conflict of interest, the firm is legally bound by its fiduciary duty to act in your best interest.
Candace Shira Associates Background
Although this firm does business under the name Candace Shira Associates, it is legally known as Cross Staff Investments, Inc. The firm is under the sole ownership of president Candace Shira, and it was established in 2012.
Financial planning and investment management are the hallmark services at this firm. On occasion, it may recommend the usage of third-party money managers.
Candace Shira Associates Investing Strategy
This firm utilizes a personalized investment strategy that is tailored to a client’s needs and circumstances. To ensure that it takes into account everything important, the firm will do a deep dive into your risk tolerance, time horizon and liquidity needs. For the most part, Candace Shira Associates invests in a mix of mutual funds, individual publicly traded securities and exchange-traded funds (ETFs).
High Probability Advisors, LLC
With about $103 million in assets under management (AUM), High Probability Advisors, LLC has three advisors in its offices. Two are chartered financial analysts (CFAs), while two are licensed insurance agents. The fact that they sell insurance makes this firm fee-based, as the agents receive commissions from vendors on top of client fees.
High Probability Advisors individual clients who do not a high net worth outnumber those who do roughly 2 to 1. The firm requires new clients to have at least $500,000 in investable assets, though it may negotiate or waive this requirement at its discretion.
High Probability Advisors Background
High Probability Advisors was created in 2017. The firm is principally owned by its two founders, CEO Stephen J. Carl and chief investment strategist Michael E. Jones. Chief Compliance Officer Jeffrey Coons has a small stake.
The financial planning services at this firm are rather robust. Clients can take advantage of tax planning, education fund planning, budgeting, estate planning, retirement planning and investment planning. Of course, the firm also offers standard investment management services.
High Probability Advisors Investing Strategy
When you become a client of this firm, its advisors will follow a four-step process that outlines how it will manage your portfolio:
- Goal identification: This involves reviewing your long- and short-term financial goals through scenario analysis.
- Asset allocation: Before any money is invested, the firm will figure out how your portfolio should be put together based on your tolerance for risk, time horizon and more.
- Portfolio management: Once an allocation is agreed upon, the firm will actually invest your money with an eye towards low-cost, passive investments.
- Communications: At this point, you and your advisor will stay in contact with one another to discuss your portfolio’s performance and general investing insights.
Last but not least, Professional Financial is located in southeast Pittsford. All three advisors at the firm are certified financial planners (CFPs). Founder Paul Byron Hill is also a chartered financial consultant (ChFC), chartered life underwriter (CLU) and accredited tax advisor (ATA). VP Kam-lin Hill is also a ChFC, accredited wealth management advisor (AWMA) and chartered global management accountant (CGMA).
High-net-worth individuals make up the largest portion of Professional Financial’s client base. The firm also manages the assets of individuals, pension and profit-sharing plans, charitable organizations and businesses.
Clients of this firm will encounter a set of minimum requirements that vary depending on the type of services they receive. For example, if you’re looking for investment management services, your minimum quarterly fee could be anywhere from $1,250 to $7,500. For stand-alone wealth planning consulting, the minimum shifts to $10,000.
Professional Financial Background
Paul Byron Hill opened the firm in 1993 and remains its owner to this day.
This firm offers its investment management and wealth planning consulting services in tiers. These range from “introductory” to “standard” to “preferred” to “premier.” The higher you go, the more in-depth and comprehensive the services you’ll receive will be.
Professional Financial Investing Strategy
Professional Financial generally invests client assets in stocks. This can mean either directly in individual securities or indirectly through mutual funds and exchange-traded funds (ETFs). When assessing which investments to incorporate into your portfolio, the firm adheres to these three beliefs, according to its Form ADV:
- Securities are fairly priced in liquid and competitive markets.
- Diversification is essential.
- Investing involves trading off risks and costs with expected returns.