Finding a Top Financial Advisor Firm in Reno, Nevada
SmartAsset created this list of the top financial advisor firms in Reno to make your search easier. Below, we outline what you need to know about Reno’s top firms, including each firm’s fees, services and investment strategies. You can also use our financial advisor matching tool to find an advisor in your area who suits your needs.
|Rank||Financial Advisor||Assets Managed||Minimum Assets||Financial Services||More Information|
|1||American Wealth Management Find an Advisor||$327,576,117||$300,000|| || |
|2||Legacy Wealth Planning, LLC Find an Advisor||$212,537,000||No set account minimum|| || |
Minimum AssetsNo set account minimum
|3||Sage Financial Advisors, Inc. Find an Advisor||$153,147,727|| |
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|4||Sierra Nevada Wealth Management, LLC Find an Advisor||$96,693,259|| |
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How We Found the Top Financial Advisor Firms in Reno, Nevada
Financial advisor firms located in the Reno, Nevada area that are registered with the U.S. Securities and Exchange Commission (SEC) were the only firms considered for this list. This is because firms registered with the SEC are fiduciaries, so they are bound to act in your best interests at all times. If any of the considered firms had disclosures filed with the SEC, didn’t manage individual accounts or didn’t offer financial planning, they were removed from contention. This list is the final product of this process. The firms below are listed in order of the most assets under management (AUM) to the least.
American Wealth Management
The first firm on our list, American Wealth Management, serves far more individuals than high-net-worth individuals. Aside from individuals, the fee-based firm also has experience working with businesses, investment companies, trusts, estates, charitable organizations and pension and profit-sharing plans. The firm generally requires a minimum of $300,000 to open an account.
American Wealth Management’s five-person advisory team holds a total of four certifications. This includes two certified financial planners (CFPs), one accredited investment fiduciary (AIF), one chartered financial analyst (CFA), one chartered alternative investment analyst (CAIA) and one chartered market technician (CMT).
The firm charges commissions when your advisor makes trades in your portfolio, and it’s the only firm on this list to do this. Certain advisors at this firm may also earn commissions from the sale of insurance policies and specific securities. However, American Wealth Management is bound by fiduciary duty, requiring it to act in your best interest.
American Wealth Management Background
American Wealth Management is the oldest firm on this list, established in 1988. It is principally owned by the firm’s president, Laif Meidell, who has been in the financial industry for more than 23 years. The rest of this firm has an average of more than 20 years of experience.
Because there is no one-size-fits-all approach for financial management clients, this firm offers a wide range of services, like:
- Pre- or post-retirement planning
- Estate planning and review
- Income tax impact evaluation
- Insurance planning
- Planning for savings
- Charitable giving
- Employee benefit usage
- Debt management
American Wealth Management Client Experience
American Wealth Management believes that the only way to begin creating an attainable financial future is by identifying your exact financial goals. Beyond just that, you will also be required to state your level of risk tolerance, as well as your time horizon. Once a plan is built, your assets will be invested in various exchange-traded funds (ETFs) and mutual funds, with stocks and bonds utilized in certain situations.
While the firm will incorporate technology and its benefits into all of its plans for client portfolios, it also believes that a human connection is necessary for a successful financial relationship. The firm prioritizes what it calls “transparent communication,” pledging to keep you informed on changes in your portfolio through emails, quarterly market reviews and in-person meetings.
Legacy Wealth Planning, LLC
Legacy Wealth Planning ranks second on our list of the top Reno financial advisor firms with nearly $212.54 in assets under management (AUM). The firm has seven advisors on staff, including two certified financial planners (CFPs). The advisors at the firm also act as representatives of LPL Financial, one of the nation’s largest broker-dealers. Because they can earn commissions in addition to advisory fees, this represents a conflict of interest. The firm is a fiduciary though, meaning it must put clients' best interests before its own.
The firm’s client base is primarily comprised of individual investors, with far more non-high-net-worth individuals than high-net-worth individuals. It can also work with businesses, charities, non-profits, 403(b) plans, retirement plans and trusts.The firm does not have any minimum account size requirements.
Legacy Wealth Planning, LLC Background
Legacy Wealth Planning has provided investment advisory services since 2017. It is owned by managing partners Phil Mahoney, Mark Levy, Martin McClellan and Chris Vargas.
Services provided by the firm include personalized investment management and financial planning. The firm offers both retirement planning and education planning.
Legacy Wealth Planning, LLC Investing Strategy
Rather than offering a cohesive investment approach as a firm, the investment strategies and methodologies used will vary depending on the investment advisor representative. All of the investment advisor representatives at Legacy Wealth Planning will, however, create a portfolio based on each client's needs, investment objectives and risk tolerance. The firm typically offers advice on stocks, bonds, annuities and mutual funds.
In addition to customized portfolios, the firm also offers clients model portfolios that are based on different objectives and levels of risk tolerance.
Sage Financial Advisors, Inc.
Sage Financial Advisors, Inc. is a fee-only firm that suggests a minimum account size of $750,000. Its typical clients include individuals, charitable institutions, foundations, trusts, corporate pension and profit-sharing plans, municipalities and endowments. When it comes to individuals, the firm serves far more individuals than high-net-worth individuals.
The firm is on the small side, with nearly $153.15 million in assets under management (AUM). Thus, it’s no surprise that the advisory staff at this firm is made up of just two professionals. The firm's president, Brian Loy, is a chartered financial analyst (CFA) and a certified financial planner (CFP).
Sage Financial Advisors, Inc. Background
Brian Loy formed Sage Financial Advisors, Inc. back in 1996. Today, Loy is the firm’s president and a partial shareholder, sharing ownership with CCO Kirstin Griffin and two other individuals.
Sage Financial Advisors offers wealth management, retirement planning, risk management and personal financial services for individuals. The firm approaches wealth management for businesses a bit differently, providing services to aid with expansion, human capital, profitability, leader succession, exit planning and tax minimization.
Sage Financial Advisors, Inc. Investing Strategy
The investment types that Sage uses in its client accounts can be divided into two categories: equities and fixed income. On one side, the firm might invest in market-centric index funds, mutual funds and exchange-traded funds (ETFs). However, the firm will also utilize U.S. government and corporate securities, preferred stocks, municipal bonds, CDs, investment trusts and closed-end funds.
The firm believes that by combining the above investments and focusing on a long-term strategy, it can mitigate the emotional side of investing and the trigger finger that sometimes accompanies it. As market movements and volatility set in, Sage’s advisors will rebalance your portfolio periodically. Rebalancing will also occur if your financial objectives change.
Sierra Nevada Wealth Management, LLC
Sierra Nevada Wealth Management, LLC ranks third on our list of the top Reno financial advisor firms with $96.69 million in assets under management (AUM). Sierra Nevada’s clients are primarily individual investors without a high net worth, though it also serves a number of high-net-worth individuals. The firm also serves businesses and trusts. To maintain a relationship with this financial advisor firm, you will need a household value of at least $500,000.
There are two certified financial planners (CFPs) on staff at Sierra Nevada Wealth Management. This fee-based firm’s advisors may make commissions from the sale of insurance policies to clients. The firm is registered as a fiduciary though, meaning it must act in your best financial interest.
Sierra Nevada Wealth Management, LLC Background
Sierra Nevada Wealth Management, LLC is independently owned by founder and managing partner Gregory Crawford, who opened the firm in 2007. The team of advisors at this firm has accrued an average of more than 12 years of experience in financial management.
Retirement planning, estate planning, insurance review, employee benefits planning, cash flow and debt management, education cost planning and tax strategies are all services available through Sierra Nevada Wealth Management.
Sierra Nevada Wealth Management, LLC Investing Styles
There are three main styles on investing that Sierra Nevada Wealth Management will utilize, depending on your goals, risk tolerance and liquidity needs: aggressive, conservative and balanced. All three are based on diversified asset allocations that are meant to produce growth in the long term.
If you choose an aggressive investing style, you are accepting a high level of volatility. Although you may see some strong short-term financial gain, be wary, as your account balance may vary wildly. These portfolios are built using equities, cash, cash equivalents and debt instruments.
Conservative investors will likely not see much financial growth in the short term, since a low level of risk tolerance limits the chance for quick, sizeable returns. This investing style will typically incorporate investments in various bonds and stocks.
Falling right down the middle, balanced investors are usually open to some risk but want to limit volatility. Sierra Nevada says it invests these clients’ assets in a combination of stocks and bonds.