Finding the Top Financial Advisors in Towson, Maryland
There’s a lot to know about a financial advisor before signing on with one. To help you, we conducted in-depth research into firms in Towson, Maryland, Our study on the top financial advisors in the area includes key details like investment minimums, services offered and fee structures. We put all the info together here for convenient comparing and contrasting. Start your search with this list of the top financial advisor firms in Towson, Maryland. Then use SmartAsset’s free financial advisor matching tool to personalize your search.
|Rank||Financial Advisor||Assets Managed||Minimum Assets||Financial Services||More Information|
|1||WMS Partners, LLC Find an Advisor||$4,132,675,696||$3,000,000|| || |
|2||Greenspring Advisors, LLC Find an Advisor||$3,228,439,267||No set account minimum; $5,000 minimum fee|| || |
Minimum AssetsNo set account minimum; $5,000 minimum fee
|3||Founders Financial Securities, LLC Find an Advisor||$ 1,047,923,104||Varies|| || |
|4||Compton Financial Group, LLC Find an Advisor||$363,519,444||None|| || |
|5||L.K. Benson & Company Find an Advisor||$320,520,139||None|| || |
|6||Black Diamond Financial, LLC Find an Advisor||$307,946,443||$500,000|| || |
|7||SFG Wealth Management Find an Advisor||$281,915,685||None|| || |
|8||Chesapeake Financial Advisors Find an Advisor||$140,856,803||None|| || |
|9||Simmons First Investment Group, Inc. Find an Advisor||$118,572,600|| |
Varies based on account type
| || |
Varies based on account type
How We Found the Top Financial Advisors in Towson, Maryland
We began by making a list of all the financial advisor firms registered with the Securities and Exchange Commission (SEC). We then filtered the list for firms that have faced disciplinary action in the past 10 years. We also removed firms whose client base isn’t at least half individual clients. The top nine firms in Towson, Maryland, are ranked here, starting with the biggest based on assets under management (AUM).
WMS Partners, LLC
With about $4 billion in assets under management, WMS Partners primarily serves high-net-worth individuals, though it also extends services to non-high-net-worth individuals, business entities, pension and profit-sharing plans, trusts, estates and charitable organizations.
The firm generally requires a minimum account balance of $3 million for investment management services.
The firm operates on a fee-only basis so it earns compensation only from its clients based on the services it provides. It doesn’t earn commissions or other types of payments from third-party firms for selling or recommending their products.
WMS Partners Background
WMS Partners has been in operation since 1993. Today, 12 equity partners own the firm. Timothy Chase, Martin Eby and David Citron hold the majority of shares. All remain active in the firm.
Collectively, the team at WMS Partners includes (advisors may have multiple accreditations):
- Certified financial planners (CFPs): 10
- Certified financial analysts (CFAs): 8
- Personal financial specialists (PFSs): 4
- Certified public accountants (CPAs): 3
- Accredited investment fiduciary (AIF): 1
- Accredited wealth management advisors (AWMAs): 4
The practice specializes in legacy planning and investment management. It also offers stand-alone financial planning services to its clients upon request.
WMS Partners Investing Strategy
WMS Partners builds portfolios with asset allocations based on the client's personal factors such as risk tolerance, investment goals and time horizon. As an “open-architecture” firm, it considers virtually the entire fund universe when building an asset allocation, including private funds and other exclusive investments. It may build a customized portfolio with some of the following securities types:
- Mutual funds
- Exchange-traded funds (ETFs)
- Environmental, social and governance (ESG) funds
- Real estate securities
Greenspring Advisors, LLC
In business for more than two decades, Greenspring Advisors oversees more than $3.5 billion in assets. It serves individuals and high-net-worth individuals as well as their related trusts, estates and charitable endeavors. The fee-only firm also advises businesses and pension and profit-sharing plans and participants.
You generally don’t need a minimum investment to establish a relationship with the firm According to SEC data, the firm serves about as many clients who are high-net-worth as those who aren’t.
Greenspring Advisors Background
Greenspring Advisors began doing business in 2004. Its principal shareholders are John Patrick Collins Jr., partner and managing director of the private client group, and Joshua Philip Itzoe, partner and managing director of the institutional client group.
Together, they oversee a team that features nine certified financial planners (CFPs), five accredited investment fiduciaries (AIFs), two enrolled agents (EAs), one chartered financial analyst (CFA) and one certified divorce financial analyst (CDFA).
Greenspring Advisors offers private money management and wealth planning services, combined or alone. For investment management services, which can be on a discretionary or non-discretionary basis, the firm collects fees based on a percentage of client assets. For financial planning and consulting, which can cover such areas as tax, retirement, estate and insurance planning, the fee is fixed or based on an hourly rate.
Greenspring Advisors Investing Strategy
Greenspring Advisors’ investment strategy begins with a thorough analysis of your financial profile. It takes into account factors like your risk tolerance, financial situation and goals to create an appropriate asset allocation for your portfolio. The firm doesn't limit exposure to certain security types. So depending on your profile, your portfolio may invest in the following:
Founders Financial Securities, LLC
Founders Financial Securities is a financial advisory firm with more than $1.04 billion in assets under management. Offering portfolio management and financial planning services, the firm serves individuals, high-net-worth-individuals, pension and profit-sharing plans, trusts, estates, charitable organizations, corporations and other businesses. Most of its client base consists of non-high-net-worth individuals.
Account minimums depend on the asset-management program you choose, ranging from zero to $25,000.
Founders Financial Securities Background
Founders Financial registered with the SEC as an investment advisor in 2006. It remains a wholly-owned subsidiary of Founders Financial, Inc. Today, the firm employs nearly 100 investment advisors. President Bradley Matthew Shepherd is a chartered financial consultant (ChFC) with more than 15 years in the financial services industry.
The firm collects investment management fees as a percentage of assets under management. It charges hourly or fixed fees for specific financial planning advice. Founders Financial is a also a registered broker-dealer. Advisors of the firm may in their own individual capacity execute transactions for their clients in exchange for separate compensation. In addition, some advisors may be affiliated with third-party firms. In their individual capacity, they earn commissions from selling the products of these firms.
Founders Financial Securities Investing Strategy
Founders Financial doesn’t construct its own investment strategy or philosophy. Instead, it offers access to a variety of independent advisor representatives (IARs) who offer their own asset-management programs. Each involves its own fees, account minimums and agreements.
These options include:
- Independence Advisory Accounts Custodied at Pershing
- Independence Advisory Accounts Custodied at TCA by E*Trade
- Freedom Capital Management Strategies
- Freedom Portfolios
- Freedom Independence Plan
- Managed Portfolio Program
- Jefferson National Variable Annuity
- Independence Manager Exchange
- Other third-party money managers
Compton Financial Group, LLC
Compton FInancial Group is a family-run investment management and financial planning firm with more than $363 million in assets under management. It works with individuals, high-net-worth individuals, trusts, estates and retirement plans. Most of its client base is made up of individuals who do not have a high net worth.
You generally don’t need a minimum account size to receive investment advisory services.
Compton Financial Group Background
Robert L. Compton launched what would become Compton Financial in 1978. His son, Christopher P. Compton, later joined the firm, taking over the reins in 2002. He manages a team that includes two certified financial planners (CFPs), one chartered financial consultant (ChFC) and one certified public accountant (CPA).
The firm specializes in financial planning, insurance management, retirement savings and insurance planning. But it can build a financial roadmap based on your goals such as budgeting, debt management, trust fund management and estate planning. The firm can also guide clients on socially responsible investing (SRI).
Compton Financial Group Investing Strategy
Compton Financial takes into account your personal circumstances such as short- and- long-term investment goals as well as risk appetite. It then creates various portfolio models and projects how they may perform based on your circumstances. Depending on your profile, it may invest in mutual funds, exchange-traded funds (ETFs), equities and fixed income.
L.K. Benson & Company
Despite having fewer than 100 individual clients, L.K. Benson & Company (LKB) has more than $320.5 million in assets under management. The firm advises individuals and high-net-worth individuals and their families, related trusts, estates, retirement plans and other investments. You don’t need a minimum investment to establish a relationship with the firm.
LKB offers a variety of financial planning and investment management services. These may include advice around budgeting, saving, retirement planning, charitable giving and estate planning. In addition, the firm provides tax planning and preparation services.
L.K. Benson & Company Background
Lyle Benson opened the doors of his namesake firm in 1994. His son, Chris Benson, joined him in 2009. Together, they own the firm, and lead a team that has (including themselves) four certified public accountants (CPAs), two personal financial specialists (PFSs) and one certified financial planner (CFP).
The fee-only firm collects compensation solely from its clients based on the services it directly provides. LKB doesn’t earn compensation from third-party firms for selling or recommending their products.
L.K. Benson & Company Investing Strategy
LKB emphasizes strategic asset allocation, portfolio rebalancing and keeping expenses low. It builds an asset allocation reflecting your risk tolerance, investing goals and other personal factors. It then monitors this portfolio and makes adjustments it deems appropriate based on circumstances such as changing market conditions or your financial situation.
Your assets may be invested across a variety of different securities including individual stocks and bonds as well as mutual funds and exchange-traded funds (ETFs).
Black Diamond Financial, LLC
Black Diamond Financial manages more than $307.9 million in assets. It provides portfolio management and financial planning services to individuals, high-net-worth individuals, pension and profit-sharing plans, trusts, estates, charitable organizations, corporations and business entities.
Clients typically need a minimum investment of $500,000.
Black Diamond Financial Background
Black Diamond began in 2007. Its principal owners are Matthew P. Goette and Lindsay D. Dryden IV (through his control of the Dryden Capital Management Trust). The team collectively features two certified financial planners (CFPs), one chartered financial analyst (CFA), one accredited investment fiduciary (AIF), one certified public accountant (CPA), one personal financial specialist (PFA) and one certified valuation analyst (CVA).
The firm collects compensation on a fee-only basis. This means it earns money from its clients based on the services it provides - and not from third parties. Black Diamond can advise on such financial planning topics as retirement planning, education funding through tools like 529 college savings plans, trust and estate management and more.
Black Diamond Financial Investing Strategy
Black Diamond says that it “employs a disciplined, low cost, quantitative approach, emphasizing broad diversification and consistent exposure to publicly traded markets globally.” As a result, it typically invests in exchange-traded funds (ETFs) that offer exposure to different asset classes across global capital markets. Your asset allocation, however, would ultimately depend on the firm’s analysis of individual factors such as long-term investment goals and risk appetite. If deemed appropriate, the firm may invest your assets across other types of securities such as mutual funds, individual stocks, foreign issuers, options, fixed-income securities, real estate and certificates of deposit (CDs).
SFG Wealth Management
Managing more than $281.9 million in assets, Synergy Financial Group (SFG Group) provides portfolio management as well as optional financial planning services to a diverse group of clients. These include individuals and high-net-worth individuals, along with their trusts, estates, retirement plans, charitable organizations and other entities. The firm also extends services to pensions and profit-sharing plans and business entities.
You don’t need a minimum investment to work with this firm. In addition to asset-management services, it offers stand-alone financial planning services that can address such topics such as:
- Retirement savings
- Estate planning
- Trust management
- Charitable giving
- Corporate and personal tax planning
- Corporate structure analysis
- Lines of credit evaluation
- Real estate analysis and mortgage/debt analysis
Synergy Financial Group Background
Synergy Financial formed in 2004 and registered as an investment advisor with the SEC in 2016. Lawrence Leitch and Stephen Spurrier are its sole owners and they continue to serve as advisors. They lead a team that collectively features (including themselves) five certified financial planners (CFPs), three accredited investment fiduciaries (AIFs), two chartered life underwriters (CLUs) and two chartered financial consultants (ChFCs).
The firm may collect fees as a percentage of your assets under management or on fixed fee or hourly basis depending on the types of financial planning services rendered. In addition, the firm’s advisors may be members of third-party firms and may earn commissions from these firms for selling their products.
Synergy Financial Group Investing Strategy
Synergy Financial’s investment advisory strategy begins with a thorough analysis of your financial profile. It takes into consideration factors such as your risk appetite, investment goals, current financial situation and more to formulate your asset allocation. In constructing your portfolio, it may use stocks, bonds, mutual funds, exchange-traded funds (ETFs) and options.
Chesapeake Financial Advisors
Chesapeake Financial Advisors has more than $140.8 million in assets under management (AUM). The firm serves individuals, high-net-worth individuals and their related entities, pension and profit-sharing plans and charitable organizations. With no minimum account size, the practice serves mostly individuals who do not have a high net worth.
When you work with the firm, its advisors can assist you on a number of financial planning topics including:
- Cash flow and debt management
- Retirement planning
- Tax planning
- Trust management
- Estate planning
- Education funding
- Special needs planning
- Business succession
- Fringe benefits
Chesapeake Financial Advisors Background
After logging time at Legg Mason and Ernst & Young, Thomas Taylor founded Chesapeake Financial in 1998. He, along withTimothy Mudd, Craig Pohl and Katie Smith, are the primary owners. All remain on the firm’s staff.
Chesapeake Financial operates as a fee-only advisor. It earns its compensation solely from the clients for the services it provides - and not from third parties.
Chesapeake Financial Advisors Investing Strategy
Chesapeake Financial Advisors takes an open-architecture approach. It considers an array of securities and investment strategies including both passive and active, based on your personal circumstances such as your risk tolerance and long-term investment goals. In constructing portfolios, it may utilize the following to meet your objectives:
- Exchange-traded funds (ETFs)
- Mutual funds
- Index funds
- Actively-managed funds
- Individual stocks
- Individual corporate and municipal bonds
Simmons First Investment Group, Inc.
The Simmons Partnership (TSP) is an investment advisory and financial planning firm with more than $95.1 million in assets under management (AUM). The firm works with a diverse set of clients that includes individuals, high-net-worth individuals, trusts, foundations, estates, pensions and corporations. Areas of expertise include retirement savings, estate planning, education funding and wealth succession.
Most of the firm’s client base is made up of non-high-net-worth individuals. It generally requires a minimum investment of $250,000 for portfolio management services.
The Simmons Partnership Background
James Darby Simmons, a certified financial planner (CFP), founded his namesake firm in 2011. He is the majority owner, while VP Jennifer Ryan, a chartered retirement plan counselor (CRPC), has a small stake.
TSP charges clients fees either based on a percentage of client AUM or on a fixed or hourly rate for specific financial planning services. Advisors who are insurance agents or brokers may earn commissions from third parties in their other capacities.
The Simmons Partnership Investing Strategy
The firm says that applying fundamental analysis to its securities research, TSP reviews, allows its advisors to assess what “the value of the security is and what we think it will be in the future.” It also occasionally uses technical analysis. The firm generally builds portfolios with a mix of mutual funds, stocks, bonds, exchange-traded funds (ETFs), closed-end funds, variable annuities and options. It may occasionally recommend a private placement (such as with a hedge fund).