Finding a Top Financial Advisor Firm in Troy, Michigan
It can be difficult to choose a financial advisor, especially if there are many firms in your area offering similar services. To help you pick out an advisor in Troy, Michigan, we've combed through company records and filings with the U.S. Securities and Exchange Commission (SEC) to identify the top firms in the city. Want a more tailored suggestion for a financial advisor in your area? SmartAsset’s financial advisor matching tool asks you a few questions about your finances and goals, then suggests a few local advisors who can meet your needs.
|Rank||Financial Advisor||Assets Managed||Minimum Assets||Financial Services||More Information|
|1||Portfolio Solutions, LLC Find an Advisor||$1,355,347,120||Varies based on account type|| || |
Minimum AssetsVaries based on account type
|2||Straightline Find an Advisor||$922,483,572||None|| || |
|3||Isto Advisors, LLC Find an Advisor||$776,068,953||$500,000|| || |
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|4||William Mack & Associates, Inc. Find an Advisor||$341,649,670||$250,000|| || |
|5||Baron Wealth Management, LLC Find an Advisor||$333,352,452||$500,000|| || |
|6||Arbor Wealth Advisors, LLC Find an Advisor||$328,144,724||None|| || |
|7||MKD Wealth Coaches, LLC Find an Advisor||$218,304,111||$500,000|| || |
|8||Confidential Management Advisors, Inc. Find an Advisor||$210,752,093||None|| || |
|9||Secure Asset Management, LLC Find an Advisor||$193,751,597||None|| || |
|10||Miller Capital, Inc. Find an Advisor||$155,835,111||None|| || |
How We Found the Top Financial Advisor Firms in Troy, Michigan
We narrowed the pool of potential financial advisors for this list to those headquartered in Troy, Michigan, and eliminated any firm that isn’t registered with the SEC. We did this because SEC-registered companies have a fiduciary duty to act in their clients’ best interests. To further condense our list, we only considered firms that are free of disclosures, manage individual accounts and offer financial planning services. The final list is ordered by assets under management (AUM), which indicates the amount of money a firm has under its control.
Portfolio Solutions, LLC
Portfolio Solutions, LLC is a wealth advisory firm established in 1999. Over the years, it has amassed around 625 clients and has more than $1.3 billion in assets under management (AUM). The overwhelming majority of the firm’s clients are high-net-worth individuals, but it also works with non-high-net-worth individuals, pension plans, charitable organizations and businesses. Portfolio Solutions is a fee-only firm.
The firm provides guidance for investments and wealth planning, as well as retirement plan consulting. On top of these offerings, the firm has a donor-advised fund program aimed at those looking for help with charitable giving; educational savings plans; and variable annuity investment services. On occasion, the firm may also act as a sub-advisor for other investment firms. The minimum for wealth planning services here is $750,000, while the minimum for investment guidance is just $500,000.
Portfolio Solutions Background
James S. Gladney opened Portfolio Solutions in 1999. It’s owned by Liberty PS Holdings, LLC. This holding company is, in turn, owned by the James S. Gladney 1992 Revocable Trust, which is under the ownership of James Gladney.
The firm has seven total advisors. This staff includes six certified financial planners (CFPs), two chartered financial analysts (CFAs), two chartered retirement planning counselors (CRPCs) and one certified public accountant (CPA).
For investment guidance services, the firm will typically charge a percentage of your AUM between 0.20% and 0.37%, with a minimum quarterly fee of $925. Wealth planning clients will adhere to a percentage-based fee schedule as well; rates range from 0.40% to 0.89%, with a minimum quarterly fee of $1,675.
Portfolio Solutions Investment Philosophy
Portfolio Solutions starts each investment process by sitting down with the client and establishing key information like their current assets, investing goals, tax situation and risk tolerance, among other things. From there, the firm will determine what combination of asset classes are most appropriate for their needs. The firm will also monitor your portfolio daily to determine if and when it will have to rebalance it.
The firm constructs client portfolios using investments like stock and bond mutual funds and exchange-traded funds (ETFs). The firm utilizes this strategy so it can more easily create globally diversified portfolios. The various funds that the firm selects will represent a range of asset classes.
Straightline is a seven-advisor firm that’s been doing business for nearly two decades. The firm currently manages $922 million in assets under management (AUM) from more than 2,800 clients. The firm’s client base consists of a mix of individuals and high-net-worth individuals, with a handful of charitable organizations as well. This firm doesn’t have an account minimum.
Straightline is a fee-based firm, which means that some advisors may earn commissions from certain securities transactions or the sale of insurance products. This creates a potential conflict of interest, since advisors are incentivized to sell you certain financial products. However, the firm has a fiduciary duty to always act in your best interest.
The firm offers investment management services for anyone with an employer-sponsored retirement plan, individual retirement account (IRA) or investment account. Straightline also provides financial planning services and investment advice to retirement plan sponsors.
Straightline first opened its doors in 2002. The firm has two principal owners in Lisa Eschbach and CEO and director of administration Bethany Mosshart. The firm’s leadership team also includes president and chief investment strategist Steven F. Mosshart and Doris C. Karras, the chief compliance officer (CCO).
For investment management services, you’ll be charged a negotiable percentage of your assets ranging from 0.50% to 2.00%. If the firm is managing your 401(k) or 403(b) account, your management fees could range up to $1,200 per year. Financial planning fees are typically flat-rate and could be either $1,000 or $1,500 depending on the nature of the services you request.
Straightline Investment Philosophy
The first step in Straightline’s investment process is working with you to determine your risk-adjusted portfolio model. The firm will also factor in things like your time horizon, investment goals, income and net worth, combining them to determine the best asset allocation for your portfolio.
The firm has five different model portfolios, each with a specific level of aggressiveness. At the most aggressive tier, all funds are invested in equity mutual funds and exchange-traded funds (ETFs). At the other end, 20% of your assets will be invested in equity funds and the rest is invested in fixed-income instruments or funds.
Isto Advisors, LLC
Isto Advisors, LLC is a fee-based firm with 10 financial advisors on staff. The firm serves roughly 280 clients and manages more than $344 million in assets. Founded in 2016, the firm works with individuals, high-net-worth individuals, pension plans, charitable organizations and corporations.
As a fee-based firm, certain advisors at Isto may oversee securities transactions or sell insurance products that generate commissions on top of the advisory fees you pay. While this creates the potential for conflicts of interest, the firm still has to abide by its fiduciary duty to always act in your best interest.
The firm provides clients with comprehensive wealth management, financial planning and investment consulting services. Additionally, the firm offers consulting for retirement plans.
Comprehensive wealth management clients will receive individualized investment advice, while financial planning and consulting clients are given generalized advice. A minimum of $500,000 in investable assets is required to subscribe to wealth management services, although this amount is negotiable.
Isto Advisors Background
Isto Advisors was established in 2016. The firm’s owners are Fisher Financial Partners, Inc. and FlipSide Consulting, LLC. The firm has five advisors on its staff, three of whom work out of the Troy office. That group includes a certified financial planner (CFP) and a chartered financial analyst (CFA).
For wealth management services, the firm charges a percentage of your assets under management (AUM) that can range from 0.50% to 2.00%. Financial planning fees are typically charged on either an hourly or flat-rate basis. These, however, won’t exceed $500 or between $100 and $50,000, respectively.
Isto Advisors Investment Philosophy
Isto Advisors invests in a wide range of securities to construct its client portfolios, provided that these investments fit in with your risk tolerance and overall investment goals. These could include stocks, warrants, mutual funds, exchange-traded funds (ETFs), fixed-income securities, corporate debt, commercial paper, certificates of deposit (CDs), municipal securities, private placements, pooled investment vehicles, unit investment trusts, structured products, options, fixed annuities, non-security insurance products and non-traded real estate investment trusts (REITs).
The firm also prioritizes asset allocation over individual security selection when constructing client portfolios. To determine the proper asset allocation, advisors will consider the client’s risk tolerance, investment goals, cash flow needs, time horizon and other unique factors.
William Mack & Associates, Inc.
William Mack & Associates, Inc. is a six-person firm that offers fee-only advisory services to roughly 750 clients. These clients include individuals, high-net-worth individuals and pension plans.
The firm provides investment management services on a discretionary and non-discretionary basis. It also offers financial planning services as part of its investment management program, though they’re also available as a stand-alone service. A minimum portfolio size of $250,000 is typically required for new clients.
William Mack & Associates Background
William Mack & Associates was founded in 1992 by William Mack. Mack owns 80% of the firm to this day, while continuing to serve as president. Theodore Karl Bugenski, the firm’s vice president and chief compliance officer (CCO), owns the remaining 20%. The firm has six advisors, five of whom are certified financial planners (CFPs) and one of whom is a certified public accountant (CPA).
Fees for investment management services tend to fall between 0.60% and 1.00% of your assets under management (AUM). For stand-alone financial planning clients, the firm charges an initial $500 deposit, followed by an hourly fee between $60 and 250, depending on the staff you work with.
William Mack & Associates Investment Philosophy
William Mack & Associates customizes its investment strategy to each client, factoring in their risk tolerance, cash flow needs, timeline until retirement and overall investment goals. The firm has six primary investment strategies, ranging from conservative to aggressive growth. Typically, the firm will recommend no-load mutual funds, index funds and, from time to time, exchange-traded funds (ETFs). By doing this, each portfolio can be exposed to a wide range of asset classes and markets.
The firm primarily uses fundamental analysis to determine if a security fits in its overall plans. This may involve examining companies’ balance sheets, return on equity, historical financial performance overviews and the overall financial and economic environment.
Baron Wealth Management, LLC
Baron Wealth Management, LLC has three financial advisors in its offices in Troy. It has just over $333 million in assets under management (AUM), and it works with 110 clients. The firm’s clients are exclusively individuals, with slightly more high-net-worth individuals than non-high-net-worth individuals.
Baron is a fee-based firm, meaning some advisors may earn commissions through certain transactions on top of the advisory fees you pay. While this practice creates potential conflicts of interest, the firm is bound by fiduciary duty to always act in its clients’ best interests.
Baron provides comprehensive wealth management services, which include both financial planning and investment management. Additionally, the firm offers consulting for situations that don’t require ongoing management. Occasionally, the firm will also hold educational workshops or seminars.
Baron Wealth Management Background
Baron Wealth Management was established in Troy in 2010, and its principal owner is Beth A. Zilka, who’s also the firm’s president and chief compliance officer (CCO). Zilka and Sandra Kerr are the firm's two advisors, and Zilka has a master’s degree in business administration (MBA).
Wealth management fees can come in the form of a fixed charge or a percentage of your AUM. The firm's wealth management service is paid as an annual retainer that ranges from $5,000 to $60,000, depending on the size of your account and the complexity of your personal situation. The exact calculation of your fees will be laid out at the outset of your relationship with the firm.
Baron Wealth Management Investment Philosophy
Baron subscribes to modern portfolio theory (MPT) which emphasizes asset diversification to maximize return for a given level of risk. The firm seeks to establish a specific risk tolerance for each client’s portfolio and then optimize return based on that distinction.
The firm takes into account that every client will have differing requirements, so it tailors its investment strategy to your liquidity needs, time horizon and financial goals. The firm takes these factors and uses them to create an asset allocation and investment strategy that’s best equipped to produce success over the long term.
Arbor Wealth Advisors, LLC
Arbor Wealth Advisors, LLC has been an investment advisor in Illinois since 2013. Its client base is less than 70 members strong, and it’s almost entirely made up of high-net-worth individuals, save for a few individual clients without a high net worth. In total, Arbor has just over $328 million in assets under management (AUM).
Arbor provides fee-only investment management, financial planning and consulting services to its clients. Investment management services are typically discretionary, and financial planning services are provided on an hourly basis.
Arbor Wealth Advisors Background
Arbor Wealth Advisors was formed in 2013 by its sole owner, Aaron R. Andreas. Andreas is the firm’s only advisor, and he has more than a decade of experience advising clients. In addition to his work with Arbor, Andreas is also a co-founder of Baron Wealth Management, which ranks fifth on this list.
Arbor Wealth Advisors calculates advisory fees on an annual retainer basis, but invoices on a quarterly basis. These fixed fees will be between $8,000 and $50,000, depending on the complexity of your situation. For financial planning services, the firm will charge an hourly rate of $300.
Arbor Wealth Advisors Investment Philosophy
Arbor’s investment approach is grounded in the belief that markets are efficient over the long term. The firm, applying the tenets of modern portfolio theory, seeks to optimize each client’s portfolio for their particular level of risk. This is done by constructing a diverse allocation of asset classes, typically through no-load mutual funds. The firm may also invest in fixed-income instruments or funds to help adjust the risk level of a portfolio.
MKD Wealth Coaches, LLC
MKD Wealth Coaches, LLC has been providing investment advice to clients in the Troy area since 2006. Its 228 clients are a combination of individuals, high-net-worth individuals, pension plans, charitable organizations and businesses. MKD Wealth Coaches is a fee-based firm, and the minimum to become a client is $500,000.
Some MKD advisors are separately licensed to sell insurance products such as annuities and life insurance, which may generate commissions on top of the fees you pay. This creates a potential conflict of interest, but keep in mind that the firm has a fiduciary duty to always act in the best interest of its clients.
The firm provides financial planning and consulting services to its clients, along with discretionary investment management. MKD also offers advisory services regarding annuity products, individual bonds, employer-sponsored retirement plan accounts and 529 accounts.
MKD Wealth Coaches Background
MKD Wealth Coaches was founded in December 2006. The firm has three equal owners: John Dankovich, Joseph Mackey and Nathan Bohannon. Among the firm’s four advisors is one certified financial planner (CFP), one chartered life underwriter (CLU) and one chartered financial consultant (ChFC).
Asset management fees are based on a percentage of your portfolio’s market value. These rates can vary from 0.50% to 1.95%. Financial planning services may be accompanied by a fixed fee or an hourly fee. If fixed, the fee will range from $1,000 to $50,000, while hourly fees fall somewhere between $200 and $500.
MKD Wealth Coaches Investment Philosophy
MKD Wealth Coaches may recommend a plethora of securities, including stocks, bonds, mutual funds (held directly or held within variable annuities, life insurance products or employer retirement plans), exchange-traded funds (ETFs), municipal securities, options contracts, futures contracts and other types of investments.
The firm creates and maintains several model portfolios that each stick to varying volatility levels. Depending on a client’s tolerance for risk, time until retirement, cash flow needs and other factors, the firm will put together a personalized asset allocation that makes the most sense by drawing from one of these models and tailoring it as needed.
Confidential Management Advisors, Inc.
Confidential Management Advisors, Inc. has been an investment advisor in Troy since 1998. Its roughly 60 clients include only individuals and high-net-worth individuals. The firm has just shy of $211 million in assets under management (AUM). The firm doesn’t impose any sort of account minimum.
The firm is fee-based, meaning that in addition to client fees, some advisors may earn commissions through conducting securities transactions or selling insurance products. Although this creates potential conflicts of interests, the firm must act in your best interests according to its fiduciary duty.
Confidential Management Advisors’ premier service is investment supervisory. It also offers financial planning through what it terms “Personal Resource Management (PRM) Executive Summary & Guidebook” reports. These analyze your personal financial situation and forecast how difficult it could be for you to reach your long-term goals.
Confidential Management Advisors Background
Confidential Management Advisors was formed in 1998, and it’s owned and controlled by John Noonan and Craig Adams. Noonan and Adams also serve as the firm’s two advisors, though information regarding their certifications isn’t currently available.
Confidential Management Advisors charges its investment management fees as a percentage of your AUM that can range from 1.00% to 1.50%. For financial planning services, the firm will typically charge a fixed fee with a maximum rate of $5,500. All fees are negotiable at the discretion of the firm.
Confidential Management Advisors Investment Philosophy
Confidential Management Advisors primarily employs fundamental analysis when it comes to evaluating securities, although it may use charting, technical and cyclical analysis when it deems such methods appropriate. Fundamental analysis is the attempt to discern a company’s intrinsic economic value by analyzing things like its balance sheet, management and other financial documents rather than focusing only on the movement of its stock price.
The firm typically advises clients on equity securities, exchange-traded funds (ETFs), mutual funds, corporate debt securities, commercial paper, certificates of deposit (CDs), municipal securities, investment company securities, U.S. government securities and more. When determining how to allocate across asset classes, the firm tailors its approach to each client’s goals, timeline and risk tolerance.
Secure Asset Management, LLC
Secure Asset Management, LLC is a 16-person advisory firm that’s been doing business since 2007. It provides fee-based advisory services to roughly 1,250 clients. These clients are largely non-high-net-worth individuals, with some high-net-worth individuals and pension plans as well.
As a fee-based firm, some advisors at the firm may earn commissions by selling insurance products such as life insurance or annuities. This creates potential conflicts of interest, but the firm is still bound by its fiduciary duty to always act in the best interest of its clients.
The firm offers asset management, financial planning, consulting for retirement plans and outside advisor selection. Naturally, some of these services will lend themselves more to certain types of clients than others.
Secure Asset Management Background
Secure Asset Management was founded in 2007 by Bryan Spencer. Spencer is the sole owner, and he also holds the title of president. The firm has six advisors on staff, none of whom have professional certifications like certified financial planner (CFP) or chartered financial analyst (CFA).
Fees for investment management services tend to fall between 1.00% and 2.00% of your invested assets. For financial planning services, the firm charges either a negotiable hourly fee or a negotiable fixed fee. The firm doesn’t specify an account minimum.
Secure Asset Management Investment Philosophy
Secure Asset Management primarily uses fundamental analysis to determine if a security is worthy of a spot within a client’s portfolio. Its advisors will take a look at factors like a company’s balance sheet, return on equity, historical financial performance and the overall financial and economic environment.
The firm uses each client’s long-term investing goals, time horizon, liquidity needs, comfort with risk and other financial factors to come up with a proper risk tolerance and asset allocation for their portfolio. Each set of investments is diversified globally and across multiple asset classes.
Miller Capital, Inc.
Miller Capital, Inc. has been an investment advisor in Michigan since 1999. Its roughly 70 clients include individuals, high-net-worth individuals and businesses. The firm has just shy of $156 million in assets under management (AUM), and it does not have a minimum initial investment stipulation.
Miller Capital provides discretionary investment management, non-discretionary investment advice and wealth management services to its clients. Wealth management might involve financial planning, although the firm doesn’t typically use the term “financial planning” to describe what it does. Miller Capital is a fee-only advisory firm.
Miller Capital Background
Miller Capital was formed just before the new millennium, and it’s owned and controlled by Mark A. Miller. Miller also serves as the firm’s president and only advisor. He has a Juris Doctor (JD) degree, and he’s also a chartered financial analyst (CFA).
For investment management clients, the firm charges fees as a percentage of your AUM. This percentage will vary between 0.30% and 0.85%, depending on the size of your account and what your assets are invested in. For financial planning services, the firm will charge a fixed, annual fee that’s negotiable.
Miller Capital Investment Philosophy
Miller Capital primarily employs fundamental analysis when it comes to evaluating securities. Fundamental analysis is the attempt to discern a company’s intrinsic economic value in relation to its price. The firm will do this by examining financial documents and other publicly available information, as well as overall financial and economic indicators.
The firm begins the creation of your portfolio by meeting with you and establishing your investment goals, preferences, liquidity needs, risk tolerance and any other pertinent information. With these factors in hand, the firm will formulate an asset allocation that best sets you up for long-term success.