Finding a Top Financial Advisor Firm in Spokane, Washington
When your retirement and investment future are at stake, choosing a financial advisor is a daunting task. We made it easier by researching, compiling and discussing the top seven firms in Spokane, Washington. To expand your search, use SmartAsset's matching tool. We'll connect you with up to three advisors in your area.
|Rank||Financial Advisor||Assets Managed||Minimum Assets||Financial Services||More Information|
|1||Ten Capital Wealth Advisors, LLC Find an Advisor||$ 452,336,220||No set account minimum|| || |
Minimum AssetsNo set account minimum
|2||Hart Capital Management, Inc. Find an Advisor||$ 433,597,511||$250,000|| || |
|3||Quantum Financial Planning Services Find an Advisor||$ 335,130,649||$2,500 minimum annual fee for accounts below $250,000|| || |
Minimum Assets$2,500 minimum annual fee for accounts below $250,000
|4||Northern Capital Management Find an Advisor||$ 327,543,795||No set account minimum|| || |
Minimum AssetsNo set account minimum
|5||Vickerman & Driscoll Financial Advisors, Inc. Find an Advisor||$ 283,425,227||$5,000 to open an account; $2,000 minimum annual fee|| || |
Minimum Assets$5,000 to open an account; $2,000 minimum annual fee
|6||Columbia Advisory Partners, LLC Find an Advisor||$124,000,000||No set account minimum|| || |
Minimum AssetsNo set account minimum
|7||Asset Planning & Management, Inc. Find an Advisor||$ 117,266,150||$5,000 minimum annual fee|| || |
Minimum Assets$5,000 minimum annual fee
How We Found the Top Financial Advisor Firms in Spokane, Washington
For this list, we only considered firms in Spokane registered with the U.S. Securities and Exchange Commision (SEC). We started with them because SEC-registered advisors have a fiduciary duty to act in their clients’ best interest. We then eliminated firms with disciplinary issues or disclosures. We also cut firms whose client base isn't at least half individuals. This left us with seven firms. The list below is arranged based on assets under management, starting with the largest. All information is accurate as of the writing of this article.
Ten Capital Wealth Advisors, LLC
Ten Capital Wealth Advisors, LLC moves to the top of the list this year. The team includes one certified financial planner (CFP) and one chartered retirement plan counselor (CRPC).
The vast majority of clients do not have high net worths (595 don't vs. 116 do). The firm also serves trusts, estates, charities, pensions, profit-sharing plans, corporations, limited liability companies and other business entities.
Ten Capital Wealth Advisors Background
Ten Capital Wealth Advisors originally started as Ten Capital Investment Advisors. It changed its name in 2018. CEO Tim Mitrovich is the primary owner. President Jake Timm has a small stake.
The practice provides investment management using third-party firms, including FinLife Partners, which offers a suite of digitally powered technology solutions. The firm may also use third-party money managers. Additionally, Ten Capital offers financial planning and consulting and retirement plan advisory services.
Ten Capital Wealth Advisors Investing Strategy
At Ten Capital, your assets will generally be invested in individual stocks or bonds, exchange-traded funds (ETFs), mutual funds and other public securities or investments. As mentioned earlier, it may recommend third-party sub-advisors. When assessing securities, the advisory uses charting, fundamental, technical and cyclical methods of analysis.
According to recent SEC data, assets under the firm's management were primarily invested in securities issued by registered investment companies (such as mutual funds) or business development companies (85%). The rest were invested in individual stocks (14%) and cash and cash equivalents (1%).
Hart Capital Management, Inc.
Hart Capital Management, Inc. joins our list for the first time this year. It's a close second, managing roughly $434 million in assets. The advisory includes equity analysts and relationship managers. Among the latter, there is one cerified financial planner (CFP), one certified public accountant (CPA) and one lawyer (JD).
Individual clients who do not have high net worths just edge out those who do: 211 vs. 176. The fee-only firm also works with 401(k) plans, corporate pension and profit-sharing plans, Taft-Hartley plans, charitable institutions, foundations, endowments, municipalities, private investment funds, trust programs and other U.S. institutions. The minimum account size is $250,000, though the practice may waive or lower the amount at its discretion.
Hart Capital Management Background
Chief Investment Officer Craig Hart started his namesake firm in 1998. Prior to that, he founded the first hedge fund in the state. He is also was the first to establish a stock index in the region, which tracked the top 15 companies in the area.
In addition to its headquarters in Spokane, the firm has an office in Coeur d’Alene, Idaho. At Hart Capital, you can investment management and financial planning.
Hart Capital Management Investing Strategy
Hart Capital primarily takes a value-oriented approach. It states that nearly all the companies it purchases have "attractive pricing with a favorable risk/reward profile and their business is fundamentally sound." Accounts with less than $200,000 may be mostly invested in mutual funds and exchange-traded funds (ETFs).
According to its SEC filing, assets under the firm's management were primarily invested in individual stocks (62%), followed by securities issued by registered investment companies (like mutual funds) or business development companies (34%) and cash and cash equivalents (4%).
Quantum Financial Planning Services
Founded in 1979, Quantum Financial Planning Services is the oldest on the list. The fee-only firm's team includes four certified financial planners (CFPs), one chartered retirement planning counselor (CRPC) and one chartered financial analyst (CFA).
The firm doesn't explicitly require a minimum investment to open an account. However, it charges a minimum annual fee of $2,500 to clients with less than $250,000 in their accounts.
Quantum Financial Planning Services Background
Eric Christiansen is the majority owner of Quantum Financial Planning Services. He has been with the firm since 1995. He also serves as trustee on the Financial Education Public-Private Partnership (FEPPP) board. In addition, Christiansen is a current member of the Financial Planning Association (FPA).
Services include wealth management (which includes asset allocation, portfolio review and more), cash flow analysis, retirement planning, risk assessment, estate planning and specialized planning.
Quantum Financial Planning Services Investment Strategy
This firm, like many financial advisors, uses strategic asset allocation as its primary investment strategy. This strategy is derived from Modern Portfolio Theory, which stresses the importance of broad diversification across asset classes to protect against risk while seeking gains.
Each client will have a portfolio tailored to his or her situation. For example, if you have high cash flow needs, low risk tolerance and an investment horizon of 10 years, your portfolio will be completely different than someone with high risk tolerance and low cash flow needs. Your first few meetings with your advisor will draw out your financial objectives and investment factors needed to construct your portfolio. Quantum Financial Planning primarily invests in mutual funds, but will also provide advice on stocks, bonds and other securities.
Northern Capital Management
Northern Capital Management can trace its roots back to 1992. Today, it offers a comprehensive range of wealth and investment advisory services to individuals, families, corporations and foundations. Most individual clients do not have a high net worth.
The financial planning services offered by the firm can touch on a wealth of topics, including developing cash flow plans, retirement planning and preparing for your children’s college expenses. It also helps clients build investment portfolios on a discretionary and non-discretionary basis.
Northern Capital Management Background
Although the firm has been in business since the early '90s, Northern Capital Management adopted its current name back in 2003. James K. Wilson, who founded the company, remains a principal shareholder. He currently serves as CEO and president and is a certified financial planner (CFP). In total, the firm employs three advisors with CFP designations.
Northern Capital Management Investing Philosophy
Northern Capital Management primarily invests client assets in no-load/non-commissioned investment vehicles, including mutual funds and exchange-traded funds (ETFs). This means sales charges and commissions won't reduce your account when you sell shares of funds.
In making investment decisions, the firm utilizes a range of resources and methodologies. These include research and analysis products by firms like Morningstar and fi360. The latter provides a fiduciary score on investments selected by the firm's investment committee.
Vickerman & Driscoll Financial Advisors
At Vickerman & Driscoll Financial Advisors, Inc., you only need $5,000 to open an account, but you’re subject to a $2,000 minimum annual fee. The firm has four advisors and more than $283 million in assets under management. Founded in 2000, the firm is fee-based and offers financial planning, estate planning, tax consulting and preparation.
Vickerman & Driscoll Financial Advisors Background
Mike Vickerman is co-founder and co-owner of his namesake firm. He serves as president and is a certified public accountant (CPA). He worked for Ernst & Young, a global accounting firm, as well as Job Line Construction and Pacific West Securities.
The team includes another CPA, one certified financial planner (CFP) and one chartered financial analyst (CFA).
Vickerman & Driscoll Financial Advisors Investment Strategy
If you have less than $250,000, the firm generally invests your assets into portfolios consisting of exchange-traded funds (ETFs) and/or mutual funds. Vickerman & Driscoll uses model portfolios developed in-house that determine the overall asset allocation, security holdings and sector weightings. You may be matched with a model portfolio based on your financial situation and objectives. Other factors include time horizon, liquidity needs, retirement date and risk tolerance. Across all portfolios is a common theme of diversification and liquidity to control risk. The firm invests in stocks, bonds, ETFs and no-load mutual funds.
Columbia Advisory Partners, LLC
Though Columbia Advisory Partners, LLC has been around since 2004, it began to offer investment advisory services starting in 2014. Previously, it only offered accounting services.
With $124 million in assets under management, the firm joins the list for the first time this year. With no minimum to open an investment account, the firm primarily serves clients who do not have a high net worth (325 don't vs. 44 do). In addition to asset management, the practice offers financial planning that can cover retirement planning, insurance, estate planning and college savings.
Columbia Advisory Partners Background
Steve Larsen founded the firm and serves as president. He owns the firm with VP Jeremy Russell, Chief Compliance Officer Kimberly Smith and Mark Foust, financial advisor. Larsen is a certified public accountant CPA and certified financial planner (CFP). The team also has a chartered financial analyst (CFA), another CFP and another CPA.
Several advisors are also insurance agents. In these non-advisor roles, they collect transaction-based commissions from third-party vendors. This has the potential to create a conflict of interest, though as an SEC-registered investment advisor, the practice has the fiduciary duty always to put clients' interests first.
Columbia Advisory Partners Investing Strategy
Like many firms, Columbia Advisory bases its strategy on Modern Portfolio Theory. As a result, it believes that with diversification, you can minimize risk and maximize returns. It primarily uses mutual funds representing various asset classes to diversify portfolios. Asset allocation software is utilized to determine the appropriate mix of asset classes for each portfolio and the firm says that it rigorously and regularly reviews mutual funds.
Asset Planning & Wealth Management, Inc.
Asset Planning & Wealth Management, Inc. provides a range of financial services to individuals and their families. The fee-only firm mainly works with individuals. About two-thirds of its clientele are high-net-worth individuals.
The firm aims to provide comprehensive financial planning services. So it can help you with various aspects of your financial life from budgeting and debt repayment to retirement and estate planning. The firm doesn’t require a specific minimum investment, but you can face a minimum fee of $5,000 if you have a small balance. Asset-based fees with the firm range from 0.45% to 1.00%.
Asset Planning & Wealth Management collects fees for its services only. So it doesn’t sell its own products or earn compensation from recommending certain securities or insurance products. This means it has fewer conflicts of interest than firms where advisors receive transaction-based fees.
Asset Planning & Wealth Management Background
Asset Planning & Wealth Management was founded in 1997 by owner Greer Gibson Bacon, who holds a certified financial planner (CFP) designation. The firm is the smallest on our list asset-wise and advisor-wise; Bacon is the only advisor here.
Asset Planning & Wealth Management Investing Strategy
Asset Planning & Wealth Management begins its investment advisory process with an investment policy statement. This document will detail your investment portfolio’s asset allocation. The firm invests most assets in individual securities and money market mutual funds. Each quarter, the firm will review your portfolio.
Working with Asset Planning & Wealth Management, you’ll have access to six types of portfolios driven by specific themes: liquidity, income, balanced, growth with income and growth.