Finding a Top Financial Advisor Firm in Red Bank, New Jersey
Despite having a population of only around 12,000 people, Red Bank, New Jersey has a fairly large selection of financial advisor firms to choose from. To help you sort through these options, SmartAsset has compiled this list of the top firms in Red Bank. We highlight a number of important factors for each firm, including their account minimums, investment strategies, available services and more. To expand your search, use SmartAsset’s financial advisor matching tool. It will connect you with up to three advisors who serve your area.
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|Rank||Financial Advisor||Assets Managed||Minimum Assets||Financial Services||More Information|
|1||Withum Wealth Management Find an Advisor||$1,169,677,748||$1,000,000|| || |
|2||Lighthouse Financial Advisors, Inc. Find an Advisor||$614,654,495||No set account minimum|| || |
Minimum AssetsNo set account minimum
|3||The Hogan-Knotts Financial Group, Inc. Find an Advisor||$304,126,578||$500,000|| || |
|4||Newport Capital Group, LLC Find an Advisor||$274,498,410||$5,000,000|| || |
|5||ShoreHaven Wealth Partners, LLC Find an Advisor||$381,028,860||No set account minimum|| || |
Minimum AssetsNo set account minimum
|6||Salvus Wealth Management, LLC Find an Advisor||$249,666,338||No set account minimum|| || |
Minimum AssetsNo set account minimum
|7||Smallwood Wealth Investment Management, LLC Find an Advisor||$232,516,283||No set account minimum|| || |
Minimum AssetsNo set account minimum
|8||Roundangle Advisors, LLC Find an Advisor||$149,613,275||$500,000|| || |
What We Use in Our Methodology
To find the top financial advisors in Red Bank, 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 obtained through public records and is updated annually after the firms’ form ADV filing. 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. SmartAsset is not a client of the aforementioned firms, and did not receive compensation for including any of the firms on the aforementioned list.
Withum Wealth Management
At the top of the list, Withum Wealth Management is a fee-only firm, which means that its advisors only earn compensation from the fees that clients pay. (That's in contrast to a fee-based firm, which may earn commissions on certain transactions.)
The advisor team at Withum claims an impressive set of advisory certifications, including certified financial planners (CFP), certified public accountants (CPA), chartered financial analysts (CFA), accredited estate planner (AEP), personal financial specialist (PFS), certified exit planning advisor (CEPA) and accredited wealth management advisor (AWMA).
Depending on the service you’re looking for, your minimum asset requirement will vary--starting from $1 million. The firm’s standard wealth management offering calls for a $1 million minimum account size, whereas the Integrated Wealth Management Platform (IWM) requires a $2 million investment. As a result, most of Withum’s client base is comprised of high-net-worth individuals. The practice also works with non-high-net-worth individuals, charitable organizations, trusts, estates, insurance companies and pension plans.
Withum Wealth Management Background
An independently owned firm, Withum Wealth Management has been in business since 2011. The firm is led by managing principal, James Ferrare, who has worked in the financial services industry for over 30 years. Pinnacle Capital Management, LLC is the principal owner of Withum.
Withum offers both investment advisory and financial planning services. These include custom portfolio design, goal-based investing, tax optimization, retirement planning, estate planning and insurance planning. If you’d prefer to have these services combined, try the firm’s IWM platform.
Withum Wealth Management Investing Strategy
In order to determine an investment plan for you, Withum Wealth Management will look at your existing retirement assets, risk tolerance, life expectancy and income needs. The firm also allows clients to include some of their own investor characteristics, including an exclusion of certain securities or market sectors, a bias toward income growth or the use of environmental, social and governance factors.
The firm utilizes charting, fundamental, technical and cyclical analysis when evaluating securities. Strategies including long-term purchases, short-term purchases, trading and options.
Lighthouse Financial Advisors
Lighthouse Financial Advisors, Inc. works with a mix of non-high-net-worth individuals, high-net-worth individuals, pensions, profit-sharing plans, nonprofits and business entities. This is a fee-only firm.
Rather than a minimum investable asset requirement, Lighthouse Financial Advisors imposes a $5,000 minimum annual fee. However, these fees are waivable under certain circumstances.
Professional designations held by the firm's team include certified financial planner (CFP), chartered retirement planning counselors (CRPC), personal financial specialist (PFS) and certified public accountant (CPA).
Lighthouse Financial Advisors Background
Robert Walsh established Lighthouse Financial Advisors in 1999. Today, Walsh is the principal owner and president. This is an independently owned firm, meaning no outside organizations hold any shares.
If you work with Lighthouse, you’ll have a selection of advisory services available to you. When it comes to investing, this encompasses asset allocation planning, diversification and tax efficiency. Financial planning services can cover cash management, estate planning, tax management, financial review, goal-setting, estate planning, debt management, life insurance analysis and more.
Lighthouse Financial Advisors Investing Strategy
Lighthouse Financial Advisors uses fundamental, technical and cyclical analyses when evaulating securities, and engages in both long- and short-term security purchases. (A long-term purchase means the security will be held for at least a year, while short-term purchases are typically sold within a year of purchase.) Depending on your risk tolerance, income needs and time horizon, your portfolio will likely include some combination of these approaches.
For the most part, Lighthouse looks to invest in individual stocks, bonds, fixed-income securities, mutual funds and exchange-traded funds (ETFs). These investments can be managed on either a discretionary or non-discretionary basis.
The Hogan-Knotts Financial Group
Next on the list is fee-only firm The Hogan-Knotts Financial Group. Hogan-Knotts has a range of clients, including non-high-net-worth and high-net worth individuals, pension and profit-sharing plans, charities and corporations. There is a $500,000 minimum to open an account.
All of the advisors at this firm hold either a certified financial planner (CFP) or registered paraplanner (RP) designation.
The Hogan-Knotts Financial Group Background
Hogan-Knotts is the successor firm of a company founded in 1971 and managed by two principals, Robert Hogan and Timothy Knotts. The two combined have over 70 years of financial planning advice and pride themselves on maintaining a fully-independent advisory firm. Interestingly, Hogan-Knotts has continuously operated out of the same converted Victorian house in Red Bank for 40 years.
The firm offers investment advice, financial planning and counseling services to a select group of clients. Because Hogan-Knotts believe that financial planning is a dynamic process, it only offers discretionary management of its clients' assets.
The Hogan-Knotts Financial Group Investment Strategy
Portfolio supervision is an active process at Hogan-Knotts, and every portfolio is customized to its clients' objectives, risk tolerance and time frame. The firm primarily practices asset allocation and quarterly rebalancing. As such, it states that it "only manages serious money for the long-term: income portfolios with withdrawal rates of 4% or less or accumulation portfolios with time frames of 6 years or more."
It is important to note that Hogan-Knotts does not generally recommend individual securities. Portfolio are usually constructed of real estate investment trusts (REITs), no-load or low-cost mutual funds, exchange-traded funds (ETFs) and indexes.
Newport Capital Group
Newport Capital Group, LLC works with both individual and institutional clients. Although high-net-worth individuals dominate its client base, the firm also maintains relationships with non-high-net-worth individuals, investment funds, businesses, retirement plans, estates, trusts and charitable organizations.
The firm has a very high account minimum, $5 million. However, this requirement can be waived at Newport’s discretion.
The advisor team at Newport includes eaccredited investment fiduciaries (AIFs), chartered financial analysts (CFAs) and certified financial planners (CFPs). As a fee-based firm, Newport Capital Group employs some financial advisors that earn commissions from the sale of insurance products. Although this presents a potential conflict of interest (as advisors are incentivized to recommend these products), the firm is bound by its fiduciary duty to act in the client's best interest.
Newport Capital Group Background
Domenic DiPiero III founded the firm back in 2004. The firm didn’t register with the SEC until 2008, though. Still the principal owner, DiPiero serves as president. Outside of Newport’s Red Bank headquarters, the firm operates offices in New York City, Los Angeles and Chicago.
Newport Capital Group offers both individual- and institutional-focused services. For individuals, financial planning and asset management services include financial needs analysis, estate planning and retirement planning. Insitutional services focus on pension plan consulting and general investment management.
Newport Capital Group Investing Strategy
In order to build a personalized portfolio that fits your needs, your advisor will sit down with you to review your risk tolerance, time horizon, financial goals and income needs. Based on these findings, the firm will recommend an appropriate asset allocation that’s split between equities, fixed-income securities and cash investments. On occasion, the firm may choose to invest in exchange-traded funds (ETFs).
Newport will periodically rebalance your portfolio to keep your asset allocations on target.
ShoreHaven Wealth Partners
ShoreHaven Wealth Partners serves a wide array of clients, including individuals, trusts, estates, charitable organizations, corporations, other business entities, retirement plans and guardianships. There is no minimum account size necessary to become a client of this firm.
ShoreHaven Wealth Partners is fee-based, which means it may collect transaction-based fees from third parties. That said, as an SEC-registered advisor, the firm is legally bound by its fiduciary duty to act in clients' best interests.
ShoreHaven Wealth Partners Background
ShoreHaven Wealth Partners registered as an investment advisor in June 2020. It is owned by Lawrence Durso, Michael Durso and Michael Lombardi.
The firm offers financial planning and consulting (including cash flow planning, business planning, retirement planning, charitable giving planning, risk management, education planning and more), investment/wealth management services, retirement plan consulting services and a selection of other advisors.
ShoreHaven Wealth Partners Investing Strategy
ShoreHaven has created a personalized approach that it calls "PORT: Planning for Opportunities, Recommendations and Timing." It meets with clients to set expectations, gathers information, sets goals, analyzes clients' current financial status, develops and implements recommendations and finally monitors them closely.
The firm also leans heavily on behavioral finance methodology to combine a qualitative and quantitative approach to provide explanations for why individuals may make the financial decisions that they do.
Salvus Wealth Management
Ranking sixth on our list is Salvus Wealth Management. Its latest SEC filing shows that it has individual clients of both high net worth and non high net worth, pensions/profit-sharing plans and corporations or other businesses. The firm also offers services to trusts and estates. There is no minimum to open an account.
This is a fee-based firm, which means advisors may receive a commission for the sale of insurance products. That said, as an SEC-registered advisor, the firm is legally bound by its fiduciary duty to act in clients' best interests.
Salvus Wealth Management Background
Formed in 2014, Salvus Wealth Management is owned by Charles T. Woolston (CEO) and Robert W. Joel (chief compliance officer and chief investment officer).
It offers investment advisory services, financial planning and consulting services (standalone), retirement plan consulting services and a selection of other advisors.
Salvus Wealth Management Investing Strategy
Salvus Wealth Management uses charting, fundamental, technical and cyclical analysis when evaluating securities. It may implement long-term purchases, short-term purchases and trading. Asset allocations may include stocks, bonds, mutual funds, independently managed assets, ETNs and/or ETFs.
Smallwood Wealth Investment Management
In terms of individual clients, Smallwood Wealth deals mostly with non-high-net-worth individuals, though it does have a few high-net-worth individual clients among its clientele. Its latest SEC filing notes that it has a small number of pension/profit-sharing as well as charitable organization clients. There is no minimum account size necessary to become a client of this firm.
Certain members of the team at Smallwood Wealth Investment Management, LLC, boast professional designations such as certified financial planner (CFP) and accredited investment fiduciary (AIF). However, as a fee-based firm, it may collect transaction-based fees from third parties. That said, as an SEC-registered advisor, the firm is legally bound by its fiduciary duty to act in clients' best interests.
Smallwood Wealth Investment Management Background
Opened in 2017, Smallwood Wealth Investment Management is the youngest firm on this list. Senior Wealth Advisor John Lewis Smallwood is the founder and sole owner of the firm, and he runs the firm alongside Senior Wealth Advisor Edward Bao, Jr.
The hallmarks of this firm’s offerings are investment management and assorted financial planning services. These include:
- Asset allocation planning
- Asset selection
- Retirement planning
- Estate planning
- College fund planning
- Debt and credit planning
- Tax planning
- Life insurance analysis
Smallwood Wealth Investment Management Investing Strategy
Smallwood Wealth Investment Management follows Modern Portfolio Theory, which aims to maintain an optimum balance between risk and return. The firm also abides by a long-term investment philosophy, eschewing short-term trading in favor of holding securities for a year or longer.
Capping off our list is fee-based firm Roundangle Advisors. Clients are largely individuals, most of whom are non-high-net-worth clients, as well as retirement plans and corporations. There is a $500,000 minimum to participate in the firm's wrap-fee program.
Some advisors at Roundangle hold a certified financial planner (CFP) and chartered financial analyst (CFA) designation. However, as a fee-based firm, Roundangle advisors may receive a commission from the sale of insurance products. While this may be a potential conflict of interest, the firm is bound by its fiduciary duty to act in the best interest of its clients at all times.
Roundangle Advisors Background
Roundangle was founded in 2015 and is primarily owned by managing principal Jonathan Bernstein.
Services offered include asset management, 401(k) advisory and financial planning. The firm offers both discretionary and non-discretionary investment management through its wrap-fee program.
Roundangle Advisors Investment Strategy
Roundangle formulates its investment advice based on fundamental, cyclical and technical analysis, as well as charting. The firm prides itself on personalizing its investment strategies to each client, utilizing long-term, short-term, trading and options to help clients reach their financial objectives.