Finding a Top Financial Advisor Firm in Purchase, New York
Are you looking for a financial advisor in Purchase, New York? To help you decide on an advisor, we looked at firms in Purchase and compiled relevant information about them. This includes their total assets under management, client bases, advisory services, minimum investment requirements and more. SmartAsset also offers a free financial advisor matching tool that can connect you with up to three local advisors.
|Rank||Financial Advisor||Assets Managed||Minimum Assets||Financial Services||More Information|
|1||Altium Wealth Management, LLC Find an Advisor||$2,133,798,228||$1,000,000|| || |
|2||SeaCrest Wealth Management, LLC Find an Advisor||$1,229,107,793||No set account minimum|| || |
Minimum AssetsNo set account minimum
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How We Found the Top Financial Advisors in Purchase, New York
To find the top financial advisors in Purchase, New York, 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:
Altium Wealth Management
The first firm on our list is Altium Wealth Management. The firm works mainly with individuals above and below the high-net-worth threshold, though it also has a number of pension plans as clients. Its services include financial planning, consulting, investment management and retirement plan consulting. Clients need at least $1 million in investable assets to open an account with the firm though it may be willing to accept prospective clients with less than that.
Altium is a fee-based firm, as some advisors are also insurance representatives who receive commissions for selling insurance to clients. The potential conflict of interest created by this arrangement is mitigated by the fact that, as a fiduciary advisor, the firm is legally obligated to act in the best interests of clients at all times.
Altium Wealth Management Background
Altium Wealth Management was founded in 2010. The principal owners and managing directors of the firm are Anthony J. DeStefano, Mitchell S. Brill, James J. Dowling Jr., James L. Giangrande, Todd Levy, Jeffrey Perlmutter and Scott Tasch. The firm employs certified financial planners (CFPs), chartered life underwriters (CLUs), chartered financial consultants (ChFCs), chartered advisors in philanthropy (CAPs) and one certified divorce financial analyst (CDFA).
Altium provides clients with a wide range of services. Its financial planning and consulting offerings typically deal with issues of business planning, retirement planning, estate planning and more. Investment and wealth management services blend investment management with general financial planning. Retirement plan consulting services are reserved for qualified employee benefit plans.
Altium Wealth Management Investment Strategy
Altium Wealth Management's advisors work with clients at the start of each relationship to determine and understand their individual investment preferences, needs and objectives. A range of factors, including a client's risk tolerance, liquidity needs, time horizon and tax situation, are taken into account so that advisors can craft the most effective investment strategy for them. The firm also allows clients to place reasonable restrictions on the management of their assets.
Advisors at Altium tend to use mutual funds, exchange-traded funds (ETFs), debt securities, equity securities and independent investment managers to populate client portfolios. Advisors also use efficient portfolio analytics and concepts to help them make effective asset allocation decisions. The firm typically takes a long-term approach to investing.
SeaCrest Wealth Management
SeaCrest Wealth Management provides investment management, financial planning and financial consulting services to its clients. The firm's client base is mostly made up of non-high-net-worth individuals, though it also maintains advisory relationships with individuals with a high net worth, retirement plans, charities and businesses. No minimum investment requirement is imposed on clients to work with the firm.
Some of the advisors at SeaCrest can also earn commissions if clients buy insurance products or securities through them. This arrangement is a potential conflict of interest, but the firm's fiduciary duty legally obligates it to act in the best interests of clients.
SeaCrest Wealth Management Background
SeaCrest Wealth Management is a wholly owned subsidiary of SeaCrest Management, LLC. The firm has three managing partners: Edward Sullivan, Rajesh Gupta and Ronald Lenihan. Sullivan is the firm's founder, and serves as its president and chief compliance officer (CCO). Gupta is currently the firm's partner emeritus, though he has held a number of other positions, including CEO. Lenihan serves as chief operating officer (COO). The firm, along with the SeaCrest Management group of companies, has locations in several different states around the U.S.
SeaCrest Wealth Management provides clients with both investment management and financial planning services. Investment management is carried out on either a discretionary or non-discretionary basis. Financial planning and consulting services usually pertain to areas of focus like retirement, estate planning, preparing an overall financial plan and anything else a client may be interested in. The firm does not offer wrap-fee programs.
SeaCrest Wealth Management Investment Strategy
SeaCrest Wealth Management's investment strategies are customized based on the needs and goals of each individual client. Advisors create personalized strategies by working directly with clients to determine their risk tolerance, time horizon and income needs. While specific investments will vary depending on the client, advisors often use mutual funds, exchange-traded funds (ETFs), independent money managers, stocks, bonds, options, alternative investments and other securities to flesh out client portfolios.
This firm typically takes a long-term approach to investing, buying and holding investments for at least a year. On occasion, if it's called for, advisors may buy and sell investments on a more short-term basis. The firm consistently monitors and evaluates portfolios to make sure that the goals of clients are being met. Advisors primarily use fundamental and technical methods of analysis.