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.
|Rank||Financial Advisor||Assets Managed||Minimum Assets||Financial Services||More Information|
|1||UMA Financial Services, Inc. Find an Advisor||$1,223,895,020||No set account minimum|| || |
Minimum AssetsNo set account minimum
|2||Albion Financial Group Find an Advisor||$1,196,812,841||No set account minimum|| || |
Minimum AssetsNo set account minimum
|3||The Insight Group, Inc. Find an Advisor||$848,190,404||$1,000,000|| || |
|4||Crewe Advisors Find an Advisor||$600,082,026||$2,000,000|| || |
|5||TrueNorth Wealth Find an Advisor||$459,282,352||$300,000|| |
|6||Financial Insight Center Find an Advisor||$419,957,327||$100,000|| || |
|7||Jacobsen Capital Management Find an Advisor||$307,654,750||No set account minimum|| || |
Minimum AssetsNo set account minimum
|8||Narus Financial Partners Find an Advisor||$281,909,902||$250,000|| || |
|9||North Capital Inc. Find an Advisor||$270,314,169||No set account minimum|| || |
Minimum AssetsNo set account minimum
|10||Tingey Advisors Inc. Find an Advisor||$253,280,212||$186,168,000|| || |
How We Found the Top Financial Advisor Firms in Salt Lake City, Utah
The list contains firms that are registered with the U.S. Securities and Exchange Commision (SEC). These firms are the largest in the area. This means they fall under SEC jurisdiction and are required to follow regulations and reporting requirements. Firms with disclosures or disciplinary issues were cut from the list as well as any that didn’t manage individual accounts.
The final list is ordered from most assets under management to the least. All information is accurate as of the writing of this article.
UMA Financial Services, Inc.
UMA Financial Services, Inc. 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.
The firm has a team with a number of certifications. There are six certified financial planners (CFPs), one chartered retirement plans specialist (CRPS), one chartered retirement planning counselor (CRPC), one accredited investment fiduciary (AIF) and one certified investment management analyst (CIMA).
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.
Albion Financial Group
Topping the Salt Lake City list is Albion Financial Group, a fee-based firm founded in 1982 that has billions in assets under management (AUM). 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/owners: 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.”
Albion has a total of 26 employees, including advisors and support staff. There are four additional CFPs, five employees with MBAs and one chartered life underwriter (CLU). This firm has one of the highest concentrations of advanced degrees we’ve seen in a firm of this size.
Albion Financial Group Investment Strategy
In addition to typical financial advisor services, such as investment management and wealth management, Albion offers two specialized products: Albion Wealth Builder and Women of Albion. The former is aimed at those who have lower levels of investable assets. As long as you have at least $25,000, you can receive the same investment research that clients with much larger accounts receive.
When evalutating securities and making investment decisions, the firm mainly uses fundamental, technical and cyclical analysis.
The Insight Group
Asking $1 million for new client accounts, The Insight Group has the third-highest asset minimum on the list after Crewe Advisors (the No. 3 firm). Insight Group, founded in 1993, has two bespoke services: investment management and financial planning. Positioning itself as an “independent, boutique wealth management firm,” Insight Group is fee-based, which means that the advisors can make money from selling you certain mutual funds, insurance or other products. That said, the firm is still a fiduciary, which means client interests are required to come before the firm’s interests.
The Insight Group Background
Mark Matley and Paul Salisbury founded the firm in 1993 and remain the sole owners. Matley is a former Wall Street analyst and has a degree in economics from Brigham Young University. He’s a chartered financial consultant (ChFC) and a chartered life underwriter (CLU). Paul Salisbury has more than 30 years of experience as an independent investment advisor. He is a certified financial planner (CFP), ChFC and CLU. He has a degree in finance from the University of Utah.
In total, six people work for Insight Group, including an additional two CFPs, one ChFC, one CLU and one certified fund specialist (CFS).
The Insight Group Investment Strategy
The Insight Group states that it developed its investment approach from “disciplined behavioral and analytical research, focusing on the psychology of an individual investor, as well as the trends that impact worldwide financial markets and investment managers.” The firm uses five main principles when managing your portfolio: asset allocation, portfolio structure, tax management multiple specialist managers and continuous portfolio management.
Third 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 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 more than 17 years 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 (like Crewe’s $2 million requirement). 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 fifth of our list of the top financial firms in Salt Lake City, with millions in assets under management (AUM). 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. In total, TrueNorth Wealth has five advisors on staff. This group includes a certified financial planner (CFP) and a 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.
Financial Insight Center
This fee-based firm shares two owners with The Insight Group. Financial Insight Center allows you to become a client with $100,000 in investable assets, rather than The Insight Group’s $1 million requirement. Financial Insight Center has multiple advisors and has been in business since 2010. The firm has millions in assets under management and offers financial planning, wealth and investment management services.
n total, the firm has 12 employees on staff. In addition to the firm owners' certifications, the team includes another six CFPs, one ChFC and one CLU, a notable number of certifications for a team of this size.
Financial Insight Center Background
This firm is majority owned by Mark Matley and Paul Salisbury, the same owners of The Insight Group. Matley is a chartered financial consultant (ChFC) and a chartered life underwriter (CLU). Salisbury is a certified financial planner (CFP), ChFC and CLU. The pair founded The Insight Group in 1993 and Financial Insight Center in 2010.
Financial Insight Center’s minority owner is Charles “Chuck” Cutler. He has over 25 years of experience in the financial services industry. He’s also a ChFC and CLU. Before Financial Insight, he was a senior executive at Beneficial Financial Group and a managing director at The MONY Group.
Financial Insight Center Investment Strategy
Financial Insight uses a proprietary process for financial planning called The Insight Retirement Clarifier. This service starts with a four-part process. The first step is the “discovery process and personal assessment.” The firm uses a digital tool called the discovery board where you’ll capture your goals, desires, financial choices and risks.
Step two is called cooperative evaluation. Advisors will show you how you can use your money and resources to achieve your objectives now as well as in the future.
The third step is plan implementation. This means your plan is put into place. The fourth and final step is monitoring and adjustment. The firm recognize that situations and goals change. That means you’ll have ongoing consultation and online tools to help you see where you’re making progress and that allow you to make changes when needed.
Jacobsen Capital Management
Jacobsen Capital Management is a fee-only firm with the seventh-highest amount in assets under management (AUM) on this list. The firm serves more than 300 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.
Narus Financial Partners
Founded in 2014, Narus Financial Partners is the youngest firm on this list along with Crewe Advisors (No. 3). Fee-based firm Narus Financial Partners 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.
North Capital Inc.
Tingey Advisors Inc.
Tingey Advisors, Inc., officially registered with the SEC as Cannon Tingey Investment Advisors, Inc., is a Salt Lake City-based firm primarily working with individual investors. Though it serves individuals who do and do not have a high net worth, the majority of its individual clients are not high-net-worth individuals.
The firm also works with trusts and estates, pension and profit-sharing plans, charitable organizations, insurance companies, unions, retirement plans and corporations or other businesses. Tingey Advisors does not specify a set account minimum requirement, and it does not charge a minimum fee.
Tingey Advisors' team is comprised of two chartered financial analysts (CFA). It is a fee-only firm.
Tingey Advisors Inc. Background
Tingey Advisors, Inc. was founded in 1996. The firm is owned by its two principals, Alan Tingey and Jon Tingey, who each own 50% of the firm.
Tingey Advisors offers all prospective clients a free initial consultation. Should you decide to work with the firm, it provides the following services:
- Portfolio management
- 401(k) or other qualified plan consulting services and selection of advisors
- Educational seminars
- Statements and newsletters
- Non-discretionary financial advice
- Other general consulting
Tingey Advisors Inc. Investment Philosophy
Tingey Advisors is a proponent of value investing, meaning it seeks to invest in companies that are undervalued compared to their earning potential. When identifying investment opportunities, Tingey Advisors says it considers dividend growth, expanding profit margins, strong balance sheets and capable management teams.
Tingey Advisors' client portfolios fall into one of five categories: Growth, Income, Balanced, Balanced with Growth Bias or Balanced with Income Bias. The portfolio category informs a client's asset allocation and which investments are used. Income portfolios, for instance, are primarily comprised of bonds, whereas Balanced portfolios hold a combination of stocks and bonds.
Beyond portfolio creation, Tingey offers its clients regular account reviews. These are intended to keep portfolio diversification and asset allocation in line with the client's investment objectives.