The Top Fee-Only Financial Advisors in the U.S.

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Edelman Financial Engines is not only the No. 1 fee-only advisor in the nation, but also the top-rated firm overall. Based in Santa Clara, California, Edelman has locations across dozens of states. The firm serves individuals, high-net-worth individuals, retirement plan participants, trusts, estates, retirement plans, charitable organizations, institutions and businesses. It also has the largest client base on this list, with nearly half a million individual and high-net-worth clients.

Minimums vary by program. The legacy wrap fee program generally has a $5,000 household minimum, while the firm’s Workplace IRA service generally requires $10,000 and defined contribution plan participants may begin with a $5 account balance before transactions are initiated. Some minimums may be reduced or waived at the firm’s discretion.

Its advisors hold professional credentials like the Certified Financial Planner™ (CFP®), chartered financial analyst (CFA), chartered financial consultant (ChFC), chartered life underwriter (CLU) and certification for long-term care (CLTC), among others. 

Edelman Financial Engines offers investment management, workplace retirement plan management, financial planning, retirement income planning, tax and estate planning guidance, insurance reviews, cash management and online advice. The firm also provides separately managed accounts, customized portfolios, held-away asset management, sub-advisory services and a turnkey asset management program (TAMP).

The firm generally builds diversified portfolios based on each client’s goals and risk tolerance. Its process may include long-term investing, periodic rebalancing and strategic adjustments. Depending on the client and program, portfolios may also include ESG strategies, direct indexing, fixed-income ladders, tax-loss harvesting, retirement income strategies, digital asset-related funds and alternative investments.

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No firm on this list manages more assets than Fisher Investments. Headquartered in Plano, Texas, Fisher has additional offices in Arizona, California, Florida, Illinois, Colorado, Texas and Washington. The firm provides discretionary investment management to private clients and institutional clients, including high-net-worth individuals, retirement plans, foundations, endowments, insurance companies, governments, pooled investment vehicles and investment companies.

The firm, which generally works with clients who have at least $1 million to invest, has a massive team of advisors across the country. These professionals hold a variety of certifications, including the CFP®, chartered retirement planning counselor (CRPC), certified investment management analyst (CIMA) and certified wealth strategist (CWS) designations.

Fisher Investments offers a range of services, including equity, fixed income and blended account management, tax management, tax-loss harvesting and certain defensive strategies. The firm may also provide financial planning resources, income planning, estate planning and tax-efficient planning, along with access to seminars, webinars and other educational materials.

The firm takes a global approach to investing, evaluating economic conditions, market trends, political developments and investor sentiment when making investment decisions. Portfolios may include common stocks, fixed income securities, cash equivalents, exchange-traded funds (ETFs), structured notes, options, derivatives and hedging techniques. Investment decisions are made by a five-member investment policy committee.

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Headquartered in Boston, GW&K Investment Management works with high-net-worth individuals, estates, pension and profit-sharing plans, charitable organizations, endowments and corporations. The firm also serves private funds, mutual funds, collective investment trusts, institutional investors, financial advisors and other entities.

Minimum account requirements at GW&K vary depending on the asset class and investment strategy. Minimums are negotiable and may be waived or modified at the firm’s discretion.

GW&K has one of the smaller advisory teams on this list, but it features a range of professional credentials, including the CFP®, CFA, CIMA, certified public accountant (CPA), and chartered alternative investment analyst (CAIA), among others. 

The firm offers discretionary separate account management, municipal bond strategies, taxable bond strategies, equity strategies, multi-asset strategies and private wealth advisory services. The firm also provides standalone financial planning, subadvisory services, wrap fee program management, private fund management and collective investment trust management.

GW&K evaluates investments by looking at factors such as a company’s financial strength, industry trends, economic conditions and broader market developments. The firm may build portfolios using municipal bonds, taxable bonds, stocks or a mix of different asset classes. Some strategies may also include ESG considerations, and for certain private wealth clients, GW&K may recommend outside investment managers.

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EP Wealth Advisors in Torrance, California works with individuals, high-net-worth families, trusts, estates, charitable organizations and businesses. It also serves pension and profit-sharing plans and may work with ERISA plan clients, international clients and American expatriates at its discretion. EP Wealth Advisors generally requires $500,000 to open and maintain an advisory account.

Members of the firm’s advisory team include CFP® practitioners, CPAs and CFAs. The EP team also features advisors who hold the accredited investment fiduciary (AIF), certified divorce financial analyst (CDFA) and others. 

EP Wealth Advisors offers portfolio management, financial planning and consulting, retirement planning, tax planning and family office services. The firm also helps clients with business planning, divorce financial planning, retirement plan advisory services and 529 college savings plans. In addition, EP Wealth may coordinate estate planning through outside attorneys, provide access to private trust services through a referral arrangement and oversee third-party investment advisors.

EP Wealth Advisors may evaluate investments using company research, market trends and economic cycles. Client portfolios can include mutual funds, ETFs, stocks, bonds, municipal securities, U.S. government securities, CDs, annuities, separate account managers and certain alternative investments.

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Savant Wealth Management works with high-net-worth individuals, individuals who do not have a high net worth, pension and profit-sharing plans, charitable organizations, corporations and other businesses. Located in Rockford, Illinois, Savant typically requires $300,000 to open an investment management portfolio, while its Betterment digital platform has no stated asset minimum.

Members of the firm’s advisory team hold multiple certifications, including the CFP®, CFA and retirement income certified professional (RICP), as well as others. 

As a client, you could work with Savant Wealth Management on a wide range of financial needs, from managing your investments and building a financial plan to preparing for retirement, reducing taxes and planning your estate. The firm may also help with trust services, family office support, divorce planning, executive planning, socially responsible investing, custom indexing and 401(k) rollover guidance.

The firm generally builds portfolios using asset allocation models that include mutual funds and ETFs across equity, fixed income and alternative asset classes. Savant may also use actively managed strategies involving individual stocks, bonds, ETFs and options. Depending on a client’s circumstances, portfolios may include ESG strategies, custom indexing, third-party managers, alternative investments, held-away account monitoring or digital platform-based investment advice.

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Founded in 1973, Cleveland-based MAI Capital Management is the oldest practice on this list. The firm works with high-net-worth and ultra-high-net-worth individuals, families, family offices, sports professionals, trusts and a variety of institutional clients. 

MAI generally suggests a minimum of $500,000 to establish an investment management account. For full-service wealth management, the firm suggests a net worth of at least $1 million and current income of at least $150,000. Minimums for private funds, limited partnerships and similar vehicles vary and may depend on investor qualification standards.

MAI offers discretionary and non-discretionary investment management, portfolio construction, asset allocation and manager selection. The firm also provides financial and estate planning, tax strategy and preparation, insurance administration, wealth transfer planning, family office services, philanthropy consulting and retirement plan consulting.

The firm's advisors, who work in dozens of offices across the country, hold certifications like the CFP®, CFA, CPA, CRPC, ChFC and others. 

The firm’s investment approach generally uses a range of equity, fixed-income, ETF and third-party manager strategies. Portfolios may include large-cap, dividend, focused, select, high-income and diversified equity strategies, as well as investment-grade bonds with laddered maturities. MAI’s ETF strategies use tactical asset allocation and regular rebalancing, while private funds and limited partnerships may be recommended for qualified investors when appropriate.

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Waverly Advisors in Birmingham, Alabama, does not require a minimum amount of assets under management to become a client. However, some clients may be subject to annual minimum advisory fees, generally ranging from $5,000 to $20,000. The firm serves a diverse array of clients, including individuals, high-net-worth individuals, pooled investment funds, pension and profit-sharing plans, corporations and others. 

Members of the firm’s advisory team hold multiple certifications, including designations like the CFP®, CPA, CFA®, CIMA and accredited wealth management advisor (AWMA), among others.

Waverly Advisors offers a range of services, including wealth management, investment management, financial planning, financial advice, retirement plan consulting and multi-family office services. The firm also provides donor-advised fund investment advisory services and consulting related to estate planning, tax planning and insurance coordination.

The firm uses a variety of investment approaches, including long-term investing, active portfolio management and customized strategies tailored to individual clients. When evaluating investments, it looks at factors such as a company's financial health, market trends and broader economic conditions. Portfolios may include stocks, bonds, mutual funds, ETFs and cash equivalents. For eligible clients, the firm may also invest in alternative assets such as private equity, hedge funds, private credit and real estate-related investments.

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Pathstone Family Office, LLC, doing business as Pathstone, primarily works with ultra-high-net-worth families, family offices, trusts, estates and related entities. Client portfolios generally begin with assets under management of $10 million or more for investment advisory-related services.

Headquartered in Englewood, New Jersey, Pathstone has additional locations in 14 other states, including California, Texas and Florida. The firm offers a range of services, including asset allocation, investment policy development, portfolio construction, manager due diligence, investment monitoring, reporting and administration. The firm also offers support with taxes, accounting, bill pay, cash management, estate and trust planning, retirement planning, family governance, charitable giving, risk management and broader family office needs.

Pathstone generally builds portfolios across several asset classes, which may include cash, bonds, public stocks, private equity, venture capital, real estate and other alternative investments. Depending on the client’s needs, the firm may use individual securities, mutual funds, ETFs, private funds, third-party managers, structured products or other strategies. Pathstone may also offer values-aligned or ESG investing, tax-managed strategies, custom index exposure, Opportunity Zone investments and digital assets when appropriate.

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Wealthspire Advisors is the first of two New York-based advisory firms on this list. Wealthspire works with individuals and high-net-worth individuals, as well as trusts, estates, charitable organizations, retirement plans, corporations and other business entities.

Wealthspire generally does not require minimum account sizes across its programs, though certain services have recommended minimums. Its retirement plan management service has a recommended minimum of $250,000 while the Prosperity Program has a $100,000 minimum that may be waived. Fixed-fee consulting and advisory engagements are generally subject to a $5,000 minimum.

The Wealthspire team comprises nearly 200 advisors, many of whom hold professional certifications like the CFP®, AIF, CPA, CDFA, certified private wealth advisor (CPWA), certified exit planning advisor (CEPA), among others. 

Wealthspire offers investment management and a wide range of planning services, including financial planning, retirement planning, estate and wealth transfer planning, education planning, charitable giving, insurance planning and tax planning. The firm also helps with executive compensation, business succession, family office services, bookkeeping, bill pay, tax reporting, endowment and foundation advisory services, retirement plan consulting and limited trustee services.

Wealthspire generally builds portfolios around long-term asset allocation. Client portfolios may include mutual funds, ETFs, separate account managers, individual stocks and bonds, private investments, REITs, high-yield bonds, emerging market investments and, in limited cases, options or other alternative strategies.

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BBR Partners rounds out our list of the top fee-only advisory firms in the U.S. Based in New York, BBR Partners works primarily with wealthy families and their associated entities. The firm also manages dozens of private investment funds. 

BBR Partners generally requires a minimum of $50 million in investable assets, which equates to a minimum annual fee of $325,000. BBR may waive or adjust this minimum at its discretion. 

BBR Partners has the fewest clients and smallest advisory team on this list. However, it maintains the lowest client-to-advisor ratio (nearly 5:1). Advisors at BBR Partners hold a variety of professional certifications, including the CFP®, CFA, CAIA and CPA designations.  

BBR offers a range of services, including strategic asset allocation, investment manager due diligence, manager selection, ongoing investment monitoring, administrative services, reporting and proxy voting. The firm manages both discretionary and non-discretionary accounts, and it also provides portfolio administration and reporting that may incorporate assets not directly managed by BBR.

The firm generally uses a manager-of-managers approach, allocating client assets across third-party managers, separate accounts, mutual funds, ETFs, exchange-traded notes (ETNs), private investment funds and alternative investment strategies.