Finding a Top Financial Advisor Firm in Salt Lake City, Utah
When it’s time for you to find a financial advisor in your city, you won’t lack for options. Salt Lake City has a number of quality firms to choose from. That’s why made this list of the top financial advisors in Salt Lake City. Below we give you the details on the top 10 to help make your decision easier.
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|Rank||Financial Advisor||Assets Managed||Minimum Assets||Financial Services||More Information|
|1||Albion Financial Group Find an Advisor||$1,427,276,329||No set account minimum|| || |
Minimum AssetsNo set account minimum
|2||UMA Financial Services, Inc. Find an Advisor||$1,310,285,466||No set account minimum|| || |
Minimum AssetsNo set account minimum
|3||Crewe Advisors Find an Advisor||$719,026,818||$2,000,000|| || |
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|4||TrueNorth Wealth Find an Advisor||$493,363,966||$300,000|| |
|5||Iron Gate Global Advisors Find an Advisor||$368,038,169||No set account minimum|| || |
Minimum AssetsNo set account minimum
|6||Smedley Financial Services Find an Advisor||$222,954,672||Varies based on account size|| || |
Minimum AssetsVaries based on account size
|7||Jacobsen Capital Management Find an Advisor||$336,785,984||No set account minimum|| || |
Minimum AssetsNo set account minimum
|8||Slayton Lewis Inc. Find an Advisor||$237,487,232||$2,000,000|| || |
|9||Narus Financial Partners Find an Advisor||$332,260,351||$250,000|| || |
|10||North Capital, Inc. Find an Advisor||$187,995,618||No set account minimum|| || |
Minimum AssetsNo set account minimum
How We Found the Top Financial Advisor Firms in Salt Lake City, Utah
To find the top financial advisors in Salt Lake City, Utah, 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:
Albion Financial Group
Topping the Salt Lake City list is Albion Financial Group, a fee-only firm founded in 1982. Several advisors work at Albion Financial Group and services offered include investment management, wealth management and retirement plan services. The fee-only firm does not have a set account minimum that potential clients will need to meet to open an account.
Albion Financial Group Background
Albion Financial Group has three co-founders: William “Toby” Levitt, John Bird and Doug Wells. Levitt serves as the CEO of the firm. Bird, the president, has a number of credentials including the certified financial planner (CFP) designation and the chartered financial analyst (CFA) designation. He also has an MBA. The third owner, Wells, is a CFA and a CFP who got an MBA from Stanford. He co-hosts two radio shows: “Mountain Money” and “The Bottom Line.” Those three, along with some other employees, own the firm.
Albion Financial Group Investment Strategy
In addition to typical financial advisor services, such as investment management and wealth management, Albion works with a range of clients, from those with lower levels of investable assets to high net worth clients, and each client can receive individualized investment management services.
When evalutating securities and making investment decisions, the firm mainly uses fundamental, technical and cyclical analysis.
UMA Financial Services
UMA Financial Services is a financial advisor firm that is owned by the Utah Medical Association and caters to its members. The firm, which describes its team as "specialists in financial planning for physicians," primarily serves physicians and their families. It also works with other entities connected to the Utah Medical Association, like corporations, foundations, endowments, pension and profit-sharing plans, trusts, estates and charitable organization. Clients don't have to meet a minimum investment requirement to work with the firm.
UMA Financial Services is a fee-based firm, as it earns money from avenues other than the fees its clients pay. Certain employees are licensed insurance agents, and the firm directly earns the commissions from the sale of insurance products. It is a fiduciary though, requiring it to act in clients' best interests.
UMA Financial Services, Inc. Background
As mentioned above, UMA Financial Services, Inc. is owned by the Utah Medical Association. The group markets the firm's services to its members. The firm has provided investment advisory services since 1993.
The firm says it strives to make financial planning less confusing and complicated for its clients so they can better protect and grow their budding wealth. It provides its clients investment management and a range of financial planning services. This includes retirement planning, income planning, risk management, debt management and college funding planning.
UMA Financial Services, Inc. Investment Strategy
The investment philosophy of UMA Financial Services rests on the fundamental belief that securities prices are a reflection of all publicly available information, with the exception of misinformation. It acknowledges that misinformation can cause pricing inefficiencies.
When constructing client portfolios, the firm diversifies assets across countries and throughout asset classes. The firm strives to build portfolios in accordance with each client's risk tolerance and time horizon. It believes in regularly dynamically rebalancing portfolios whenever pre-determined asset weightings fall out of line.
Next on the list is another fee-based firm, Crewe Advisors. The firm has the highest asset minimum, asking new clients for at least $2 million in investable assets to open a new account. Formed in 2014, Crewe Advisors is one of the newest on the list.
Crewe Advisors Background
Ryan Halliday, Dan Sudit and Dustin Thackeray formed the firm in 2014. Halliday is the managing partner. He has about two decades of experience in financial services, including investments, insurance, taxes and estate planning. He has master’s of finance degree from Walsh College. Sudit, who is a partner at the firm, also has over 17 years of experience. His area of expertise, however, is taxes. He has a LL.M. in taxation from Georgetown University Law. Thackeray serves as the chief investment officer of Crewe Advisors. He is a chartered financial analyst (CFA).
The firm offers portfolio management, estate planning, retirement services, tax planning and more. You can find Crewe Advisors just south of Capitol Hill on South Temple.
Crewe Advisors Investment Strategy
Advisors at Crewe use fundamental analysis, technical analysis and quantitative analysis to evaluate investment securities. The firm uses a variety of investment strategies typical at most financial advisor firms, including long-term trading, short-term trading, short sales, margin transactions, pooled investment vehicles and options trading.
Each portfolio is individualized, a service that’s usually only found at firms with high asset minimums. This means your advisor will get to know your “financial needs, tax circumstances, family dynamic, lifestyle objectives and risk tolerance” before developing your personalized investment plan.
TrueNorth Wealth comes in next on our list. The firm is legally registered with the SEC as Association Financial Services. It specializes in serving high-net-worth individuals, particularly a group it describes as "elite intellectual specialists." This group includes physicians, surgeons, business owners and key employees. To begin a relationship with the firm, you'll need at least $300,000.
Salt Lake City is one of the firm's three office locations in Utah. It also has offices in St. George and Logan. This firm's client base includes such certifications as certified financial planner (CFP) and chartered retirement planning counselor (CRPC). This is a fee-only firm.
TrueNorth Wealth Background
Though it was officially established in 2004, TrueNorth Wealth began offering advisory services in 2007. The firm's majority owner is Marty Watkins, who is also the firm's founder and CEO.
TrueNorth offers clients a number of financial planning services, including estate planning, income tax planning and investment planning. The firm offers investment management services in a non-discretionary basis, meaning it the client will need to approve each trade made in their portfolio.
TrueNorth Wealth Investment Strategy
TrueNorth Wealth doesn't think there's any one approach that will fit all clients' situations, so it instead determines its investment recommendations and strategies based on each client's situation. The firm values being comprehensive, so it will also consider the larger economic environment, as well as a tax efficiency, when crafting an investment approach.
In general, TrueNorth incorporates the tenets of Modern Portfolio Theory when building client accounts. The firm usually steers clear of private placements or other alternative investments, instead opting to use registered funds. It typically will hold securities for over a year.
Iron Gate Global Advisors
The next firm up on our list is Iron Gate Global Advisors. This advisory firm works exclusively with individual clients. Of those individuals, the vast majority do not have a high net worth. Under 10% are high-net-worth individuals.
Iron Gate does not have a set account minimum for advisory services. The firm is fee-based, however. This means that some advisors can earn commissions from the sale of financial products to clients, such as insurance or securities. Despite this conflict of interest, the firm is still a fiduciary that is legally obligated to act in the best interests of clients at all times.
Iron Gate Global Advisors Background
Iron Gate Global Advisors was founded in 1999, making it one of the older firms on our list. It was originally registered at the state level, though it swapped those registrations out for an SEC registration in 2017. Brian W. Hunsaker, Franz S. Amussen and Brett M. Pattison are the principal owners of the firm.
Iron Gate works with clients to provide portfolio management services and financial planning serivces as well as general asset management services, which tend to encorporate the two.
Iron Gate Global Advisors Investment Strategy
Iron Gate Global Advisors and its advisors look to craft individualized investment strategies that are tailored to the individual financial situations and investment objectives of each of its clients. Advisors will typically work with clients on a one-on-one basis to determine their tolerance for risk, liquidity needs, time horizons and any other relevant information that can help with the investment process.
Iron Gate's advisors usually use a combination of stocks, bonds, exchange-traded funds (ETFs), options and mutual funds. They also primarily use fundamental analysis to evaluate investments.
Smedley Financial Services
Smedley Financial Services is another firm that’s been around since the early 1980s. Smedley Financial Services has a small team of advisors and allows clients to open an account if they meet the portfolio minimum. For most accounts, this is $25,000. However, there a few that have a $50,000 minimum. Services offered include financial planning, retirement planning, 401(k) rollovers, Social Security planning and women-oriented wealth management.
Certain advisors at Smedley can receive commissions from the sale of insurance products or securities to clients. While this presents a potential conflict of interest, the firm has a fiduciary duty to act in clients' best interests at all times.
Smedley Financial Services Background
Roger Smedley is the founder, majority owner and CEO of the firm. He’s a certified financial planner (CFP) and has an MBA from University of Utah.
Sharla Jessop, president and private wealth management consultant, is a Smedley Financial Services shareholder. She’s also a CFP and has nearly three decades of experience in financial services.
In addition to Smedley and Jessop, the firm has seven employees, including an additional CFP and a chartered financial analyst (CFA).
Smedley Financial Services Investment Management
One aspect to consider about this firm is that it uses model portfolios. This means set, templatized portfolios that your assets are invested in depending on your financial objectives. The firm has more than 15 model portfolios, more than almost every firm we’ve researched that provides models.
Each portfolio corresponds with a certain goal, such as growth, conservative risk or cash flow. The main three types are proactive portfolios, designed for risk-averse, market-driven investments; phase portfolios, created for income distribution planning; and tax-efficient portfolios, with a goal to maximize after-tax returns. All except tax-efficient income, tax-efficient growth and tax-efficient growth and income require $25,000 to open. The remaining three portfolios require at least $50,000.
Jacobsen Capital Management
Jacobsen Capital Management is a fee-only firm. The firm serves a large base of clients, including high-net-worth individuals, individuals, trusts, foundations and retirement plans.
The firm earns its compensation through asset-based fees, hourly fees and fixed fees. Jacobsen Capital doesn’t have a set account minimum.
Jacobsen Capital Management Background
Jacobsen Capital began its operations in 2001. The firm’s advisory services include portfolio management, financial planning, pension consulting and selection of other advisors. However, the firm says it also provides non-investment consulting and implementation services for matters such as estate planning and tax planning.
Jacobsen Capital Management Investment Strategy
Jacobsen Capital says it believes that a clearly defined, disciplined approach to investing is successful over long-term periods. The firm also says it generally avoids trying to time the market because this leads to unwanted fluctuations in portfolio performance.
JCM mainly invests its clients’ assets in mutual funds, exchange-traded funds (ETFs) and separate accounts. The firm says it may also provide advice for private investment funds.
Slayton Lewis is headquartered in Salt Lake City but it also has an office in Chicago. This firm has a small team of financial advisors on staff. The firm's founder, William S. Campbell, is a certified financial planner (CFP) and an active member of the Financial Planning Association. This is a fee-only firm.
It has a relatively small client base, with the majority of its current clients being high-net-worth individuals and their families. It also serves individuals without a high net worth, as well as pension and profit-sharing plans. The firm has a relatively high account minimum, as it typically requires individual clients to have an opening account balance of at least $2 million.
Slayton Lewis Background
Slayton Lewis has been in business since 2000. It's principally owned by William S. Campbell, who is the firm's principal. Campbell named the firm after his father-in-law, William L. Slayton, and his father, Louis G. Campbell, because both men were highly influential in his life.
The firm offers asset management, financial planning and pension consulting services. Its financial plans may include a review of a client's cash flow, risk management, tax situation, retirement plan, estate plan and philanthropic plan.
Slayton Lewis Investment Strategies
Slayton Lewis' investment approach is centered around asset allocation and low-cost index investing. When building client portfolios, it takes into account the principles of modern portfolio theory and also utilizes the quantitative tool of mean variance optimization to determine an asset allocation that appropriately balances risk against return.
For each client, Slayton Lewis will offer an association model that it believes is most in line with the client's risk tolerance and time horizon. From there, it will implement the plan by choosing investments. The firm uses a variety of methods of analysis to evaluate investment opportunities, including optimization, technical analysis, computer models and various quantitative methods.
Narus Financial Partners
Founded in 2014, Narus Financial Partners is one of the youngest firms on this list. This fee-only firm offers services such as asset management, financial planning, retirement planning, education planning and investment consulting. To become a client, you’ll need at least $250,000 in investable assets.
Narus Financial Partners Background
Benjamin Merryman is the co-founder and primary owner of the firm. He comes from a wealthy family, where he got his start managing wealth and business matters. Jared Stubbs, co-founder, is the firm’s CEO. He has more than 20 years of financial industry experience and previously worked at Fidelity Investments, Goldman Sachs and Guardian Wealth Management. He is a certified wealth strategist (CWS) and an accredited asset management specialist (AAMS) and has an MBA from University of Utah.
Trent Bowers is the chief investment officer and a co-founder. He is a certified financial planner (CFP) and an AAMS, and previously worked at Charles Schwab. Curtis Lamb is the fourth co-founder. He’s a personal wealth advisor at Narus Financial Partners and has more than 20 years of experience in the financial services industry. Before Narus, he was an investment consultant at Fidelity Investments and a branch manager at Charles Schwab. He has an MBA in finance from Westminster College.
Narus Financial Partners Investment Strategy
Narus uses fundamental, qualitative and technical analysis to formulate investment advice. The firm provides advice on a wide range of investments, including: mutual funds, ETFs, exchange-listed securities, securities traded over-the-counter, municipal securities, U.S. government securities, options contracts on securities, options contracts on commodities and American depository receipts (ADRs).
According to Narus’ SEC brochure, the firm’s “ advisory services are always provided based on your individual needs. This means, for example, that when we provide asset management services, you are given the ability to impose restrictions on the accounts we manage for you, including specific investment selections and sectors.” That means your portfolio is tailored to your individual financial needs and objectives. The firm does not have set model portfolios.
The final firm on our list is called North Capital. This company has quite a diverse client base. Non-high-net-worth individuals make up the majority of the firm's client base, with high-net-worth individuals coming in second. The firm also works with institutional clients, including banks, investment companies, pensions, profit sharing plans, trusts and other businesses.
North Capital does not have a minimum account size requirement. It is also a fee-only firm, so advisors don't earn commissions from selling financial products to clients.
North Capital Background
North Capital was founded in 2008, though it only just became an SEC-registered investment advisor in 2017. Previously, it had only been registered at the state level. James P. Dowd, who serves as the firm's president and chief investment officer, is the owner of the firm. He is also a chartered financial analyst (CFA).
North Capital provides clients with investment portfolio management services as well as financial planning services. Most of the firm's assets are managed on a discretionary basis.
North Capital Investment Strategy
As is the case with most financial advisory firms, North Capital looks to tailor its investment management services and investment strategies to meet the needs of its clients. This process involves meeting with clients to develop a view of their overall financial situation, including their tolerance for risk, investment objectives and any other relevant information.
Advisors typically invest client assets in mutual funds, exchange-traded funds (ETFs) and exchange-traded notes (ETNs). They may also take advantage of model portfolios.