Finding a Top Financial Advisor Firm in Utah
Utah is one of the largest states in the U.S., with cities like Salt Lake City and Provo that have many financial advisor firms to choose from. This list of the top Utah financial advisor firms, created through hours of detailed research, is meant to simplify your search for the right financial advisor. Throughout this review, you’ll become aware of distinctions between the firms and learn about their investing ideologies, fees and account minimums. SmartAsset's financial advisor matching tool is another easy way to find an advisor in your area who meets your specific financial needs.
|Rank||Financial Advisor||Assets Managed||Minimum Assets||Financial Services||More Information|
|1||Soltis Investment Advisors, LLC Find an Advisor||$1,063,035,224||$750,000|| || |
|2||Albion Financial Group Find an Advisor||$1,000,931,555||No set account minimum|| || |
Minimum AssetsNo set account minimum
|3||The Insight Group, Inc. Find an Advisor||$705,481,915||$1,000,000|| || |
|4||Crewe Advisors Find an Advisor||$523,677,311||$2,000,000|| || |
|5||TrueNorth Wealth Find an Advisor||$414,000,000||$500,000|| |
|6||Navigate Private Wealth, LLC Find an Advisor||$331,879,940||$250,000|| || |
|7||Tanner Capital Management, LLC Find an Advisor||$323,287,390||$1,000,000|| || |
|8||DFPG Investments, Inc. Find an Advisor||$319,333,403||n/a|| || |
|9||Capita Financial Network, LLC Find an Advisor||$316,744,493||n/a|| || |
|10||Net Worth Advisory Group, LLC Find an Advisor||$312,159,635||$100,000|| || |
How We Found the Top Financial Advisor Firms in Utah
Financial advisor firms that principally do business in Utah and are registered with the U.S. Securities and Exchange Commission (SEC) were the sole firms considered for placement on this list. This was done because all financial advisor firms that are currently registered with the SEC must abide by fiduciary duty, meaning they must always act in clients’ best financial interests. However, if any of these firms did not manage individual accounts, did not offer financial planning or had any disciplinary issues on record, they were removed from contention. The firms that fit all of the above qualifications are listed below, organized from the most assets under management (AUM) to the least.
Soltis Investment Advisors, LLC
The top-ranking firm on our list is Soltis Investment Advisors, LLC, a firm located in St. George, Utah, that has $1.06 billion in assets under management (AUM). The firm has 14 advisors on staff, including four certified financial planners (CFPs), two certified investment management analysts (CIMAs), one chartered financial analyst (CFA) and one accredited investment fiduciary (AIF).
Soltis generally requires clients to maintain an account size of at least $750,000. The majority of the firm’s clients are individuals and high-net-worth individuals, but it can also serve institutions, corporations, endowments, charitable organizations, foundations, pension plans and 401(k) plans.
Soltis is a fee-only firm. The firm may charge performance-based fees to certain "qualified clients" (defined by the Investment Advisers Act of 1940 as a client with a $2.1 million net worth or at least $1 million in assets with the advisor right after investing).
Soltis Investment Advisors, LLC Background
Soltis Investment Advisors’ roots date back to 1993, when its predecessor, Smith Henderson and Associates, was formed. The firm is currently owned by Soltis, Inc.
Soltis refers to the bundle of advisory services it provides to clients as The Investment Management Discipline. This includes a review of a client's investment goals and objectives, the recommendation of an appropriate asset allocation and investment selection, financial planning and consulting services and pension/401(k) consulting advisory services.
As a firm, Soltis has earned a certification from the independent, globally recognized Centre for Fiduciary Excellence (CEFEX), which demonstrates a firm's adherence to strict fiduciary standards. In addition to this certification, Soltis has earned a number of awards. In 2017, Soltis ranked on Barron's and Financial Times' lists of the top financial advisors in the country.
Soltis Investment Advisors, LLC Investment Philosophy
Soltis Investment Advisors utilizes both quantitative and qualitative evaluations when analyzing a manager or stock selection. Quantitative evaluation uses computer databases and securities pricing services to analyze performance, while qualitative evaluation examines recommendation managers to verify education, experience and performance.
Soltis aims to identify investment opportunities that most closely align with clients' objectives and risk tolerance. These are both outlined in a client's investment policy statement, the development of which is the first step in a client's investment management process.
Albion Financial Group
Albion Financial Group manages more than $1 billion in client assets, which is almost double the amount of assets managed by the third firm on this list, The Insight Group, Inc. This Salt Lake City-based firm has six certified financial planners (CFPs), two chartered financial analysts (CFAs) and one chartered life underwriter (CLU) on its advisory team. This firm ranked first on SmartAsset's list of the top financial advisor firms in Salt Lake City.
Albion offers a unique financial service called “Women of Albion,” which focuses on the distinct factors that affect how women manage their money. This service can encompass estate planning, tax planning, insurance planning, retirement counseling, multi-generational wealth transfer and more.
The fee-only firm does not require a minimum account size. Its typical clients are individuals, families, corporations and businesses. Albion tends to serve more non-high-net-worth clients than high-net-worth clients.
Of all the firms on this list, only Albion and Soltis Investment Advisors, LLC may charge performance-based fees when your account performs better than projected.
Albion Financial Group Background
Albion Financial Group is tied with First Western Advisors for the oldest firm on this list, as both firms were established in 1982. Albion is independently owned by CEO William Levitt, President John Bird and partner Doug Wells.
Regardless of the type of financial services you need, this firm likely has something to offer you. Its wide range of services includes:
- Education fund planning
- Divorce planning
- Retirement planning
- Net worth and cash flow analysis
- IRA, 401(k) and pension guidance
- Albion Wealth Builder robo-advisor
- Philanthropic investing
- Non-profit consulting
- Corporate trust services
- Small business consulting
Albion has received several awards recently. It was named one of Financial Advisor Magazine’s top registered investment advisors (RIAs) in 2017, and one of Utah’s top 10 RIAs by Utah Business Magazine in 2016.
Albion Financial Group Investing Strategy
At Albion Financial Group, your personal financial goals, risk tolerance and time horizon will shape your final investment plan. To iron out these details, your advisor will meet with you face-to-face so you can discuss your current financial life and determine your financial goals.
This firm believes in using many different types of investments in client portfolios. Your assets may be invested in equity and debt securities, exchange-traded funds (ETFs), no-load and closed-end mutual funds, corporate and municipal bonds, convertible securities and U.S. government securities.
The Insight Group, Inc.
The Insight Group, Inc. works with a many different types of clients, including individuals and high-net-worth individuals, estates, trusts, pension and profit-sharing plans, businesses and charitable organizations. The firm has a unique approach to portfolio management, as it doesn’t select a single advisor to manage your account but rather uses the strengths of individuals across its team.
You will need at least $1 million to open an account at this firm that came in second on SmartAsset’s list of the top financial advisor firms in Salt Lake City. As far as advisory certifications go, Insight currently has three chartered life underwriters (CLUs), three chartered financial consultants (ChFCs), three certified financial planners (CFPs) and one certified fund specialist (CFS) on staff.
The Insight Group is a fee-based firm. Advisors at this firm may offer you insurance policies to supplement your account. However, the firm is fiduciary, and it is therefore required to always act in your best interest.
The Insight Group, Inc. Background
The Insight Group, Inc. has been in business since 1993. It’s principally owned by Paul Salisbury and Mark Matley, the firm’s co-founders. Every one of this firm’s advisors has spent at least 20 years in the financial management field, affording it ample experience.
The firm’s financial planning services encompass retirement planning, investment planning, financial independence preparations, estate planning, life/disability/long-term care risk analysis, tax management, cash flow review and debt management review.
The Insight Group, Inc. was ranked by Financial Times as one of America’s top 300 financial advisor firms in 2017. It also placed 19th on Financial Advisors’ list of the top 50 fastest-growing firms in the U.S.
The Insight Group, Inc. Investing Strategy
The Insight Group, Inc. focuses on incorporating tax efficiency into every financial plan it creates. To do this, it utilizes targeted tax management early on each year to try to maximize clients’ tax returns come tax season.
In addition, The Insight Group, Inc. says it strives to allocate your assets across as many different classes as possible while still adhering to your risk tolerance and time horizon requirements. More specifically, your assets will likely be invested in some combination of stocks, cash equivalents, fixed-income investments, real estate, municipal bonds and corporate bonds.
No firm on this list has a higher account minimum than Crewe Advisors, which requires a $2 million minimum account size. It is the third-ranked firm in Salt Lake City according to SmartAsset, and principally serves individual investors, businesses, charitable organizations and insurance companies. More specifically, the firm’s individual client base is nearly split down the middle between high-net-worth individuals and those without a high net worth.
Compared to the rest of the firms on this list, Crewe Advisors’ staff has significantly fewer certifications. There is only one chartered financial analyst (CFA) on staff.
Crewe Advisors is a fee-based firm. Advisors may earn commissions from trading certain investments in your account or from selling insurance policies. However, fiduciary duty binds this firm to act in your best interest at all times.
Crewe Advisors Background
Crewe Advisors was founded in 2014. Crewe is owned by business services company HH2007, LLC, business management firm Tidus, LLC and holding firms T2, LLC and Crewe Holdings, all of which are owned or controlled by members of the firm.
The firm’s financial planning services encompass investment management, college fund planning, debt and credit planning, retirement planning, tax minimization, executive counseling, business succession planning and life insurance review.
Crewe Advisors Investing Strategy
There are four basic factors that Crewe Advisors takes into account when building your personalized financial plan: your current financial situation including your income and tax status, your level of risk tolerance, your overall time horizon and any financial goals you may want to reach in that time span. Based on these facts, the firm will invest your assets across exchange-traded funds (ETFs), mutual funds, individual fixed-income and equity securities and private securities.
Like many other firms, Crewe believes in long-term investing. However, because some clients may have a need for liquidity, the firm does engage in some short-term strategies like short-term trading, short sales and margin transactions to ensure it meets those needs.
TrueNorth Wealth, legally registered with the SEC as Association Financial Services, has three office locations in Utah, including in Salt Lake City, St. George and Logan. As the fifth-ranking firm on our list, it has $414 million in assets under management. It is a fee-only firm.
The vast majority of TrueNorth Wealth's clients are high-net-worth individuals, who it specializes in serving. The firm describes its typical clients as the “elite intellectual specialists of Utah.” They are usually physicians, surgeons, business owners and key employees who want to protect their wealth, minimize their tax burden and plan their estate. A minimum of $500,000 in investable assets is typically required to begin an advisory relationship with the firm.
TrueNorth Wealth has a relatively small team of five advisors. Its advisory team includes a certified financial planner (CFP) and a chartered retirement planning counselor (CRPC). One of its advisors, C. Richard Hopkins, is a physician who teaches medical school anatomy in addition to providing financial and retirement planning services.
TrueNorth Wealth Background
TrueNorth Wealth was founded in 2004 and it's offered advisor services since 2007. Marty Watkins, who founded the firm and is the CEO, is the firm's majority owner. Aside from TrueNorth Wealth, the firm may also do business as TrueNorth Retirement Services and Idaho Medical Association Financial Services.
The firm's primary focus is financial planning. It offers financial planning in five areas, including asset protection, estate planning, income tax planning and investment planning. Unlike many investment firms, TrueNorth Wealth does not have discretionary authority over its investing accounts, meaning it can't execute trades for clients without their express consent. It does, however, provide non-discretionary asset management and investment recommendations.
TrueNorth Wealth Investment Philosophy
TrueNorth Wealth's investment philosophy is embedded in comprehensiveness, as it wants to consider the bigger picture when investing its clients' money. It considers everything from the current political and economic environments to your family and life situation. The firm places a particular emphasis on tax efficiency in an effort to minimize clients' tax obligations.
The firm adapts its investment recommendations and strategies to clients' unique situations and needs, as it states in its Form ADV that"no one approach works at all times for all clients." It does, however, typically hold securities for over a year and builds its portfolios based on modern portfolio theory. TrueNorth Wealth avoids private placements or other alternative investments, opting to only use registered funds from investment companies with philosophies with which it agrees.
Navigate Private Wealth, LLC
Though Navigate Private Wealth, LLC does serve a small group of high-net-worth individuals, more than 90% of its individual clients fall beneath the high-net-worth threshold. The fee-based firm located in Draper also serves trusts, estates, corporations, limited liability companies (LLCs), pension and profit-sharing plans and charitable organizations. To open an account with this firm, you will need at least $250,000 in investable assets, though the firm does make exceptions.
Navigate’s staff boasts one of the most extensive lists of certifications. There are five certified financial planners (CFPs), three chartered retirement planning counselors (CRPCs), one certified public accountant (CPA) and one chartered financial consultant (ChFC) on staff.
If you purchase an insurance policy through this firm or have specific securities traded in your portfolio, advisors may earn additional compensation. It’s important to remember that the firm abides by fiduciary duty though, forcing it to act in your best financial interest.
Navigate Private Wealth, LLC Background
Navigate Private Wealth, LLC is an employee-owned firm. It was established in 2014. Navigate’s advisors average about 23 years in financial management. The firm’s team includes both younger and older advisors though, offering different points of view.
Navigate offers a variety of financial services. The firm’s offerings include retirement planning, estate planning, corporate and personal tax planning, real estate analysis, insurance analysis, line of credit evaluation, corporate structure planning and charitable giving planning.
Navigate Private Wealth, LLC Investing Strategy
To make risk tolerance easier to identify, Navigate Private Wealth has determined six tiers of risk tolerance based off of the five-year standard deviation of the S&P 500:
- Conservative - Less than 40% of the five-year S&P 500 standard deviation
- Moderately conservative - Less than 55% of the five-year S&P 500 standard deviation
- Moderate - Less than 70% of the five-year S&P 500 standard deviation
- Moderately aggressive - Less than 85% of the five-year S&P 500 standard deviation
- Aggressive - Less than 100% of the five-year S&P 500 standard deviation
- Speculative - More than 100% of the five-year S&P 500 standard deviation
Once you’ve chosen one of these risk tolerances, you and your advisor will evaluate how it can be implemented while still taking into account your financial goals for the future. Navigate Private Wealth typically uses mutual funds, exchange-traded funds (ETFs) and individual stocks and bonds in client portfolios.
Tanner Capital Management, LLC
Tanner Capital Management, LLC has the smallest advisory team of any firm on this list, with just two advisors on staff. The firm’s staff also has a limited number advisor certifications, as there is only one chartered financial consultant (ChFC).
This fee-based firm has the second-highest account minimum at $1 million. Tanner, which is located in Provo, mostly works with individuals. It serves more than double the number of high-net-worth individuals than non-high-net-worth individuals. In addition, the firm works with pension and profit-sharing plans, estates and trusts.
Advisors at this firm may earn commissions when certain securities are traded in client accounts and when they sell insurance policies. However, the firm is a fiduciary and therefore must act in your best interest.
Tanner Capital Management, LLC Background
Tanner Capital Management is an independent financial advisor firm owned by managing member and chief compliance officer J. David Tanner. J. David Tanner has spent more than 30 years in the financial management industry.
This firm believes that financial planning can only be done comprehensively. The services it offers include:
- Cash and risk management
- Retirement planning
- Estate planning
- Charitable giving
- Tax mitigation
- Capital needs planning
- Education funding review
- Insurance analysis
- Overall financial review of income, liabilities, business agreements, tax returns and more
Tanner Capital Management, LLC Investing Strategy
Tanner Capital Management uses a variety of investment strategies in its client portfolios. These include long-term purchases, short-term purchases, margin transactions and trading. Long-term purchasing is the primary investment strategy used, while the other three strategies are utilized to take advantage of quick market shifts.
Mutual funds, index funds, exchange-traded funds (ETFs), separately managed accounts (SMAs) and alternative investments make up the majority of the investments the firm uses in its client portfolios. The exact distribution depends upon your risk tolerance and any financial goals you may have.
DFPG Investments, Inc.
This firm in Sandy, Utah, has $319.33 million in assets under management (AUM). DFPG Investments serves individual and high-net-worth individual investors, including, more specifically, medical professionals, business professionals and small business owners. It also works with corporations, pension and profit-sharing plans, trusts, charitable institutions and foundations. The firm does not specify a set account minimum requirement across all of its program types.
The firm has a sizable advisory team, with a total of 33 advisors on staff. The firm's management team includes two certified financial planners (CFPs), one chartered financial analyst (CFA) and one certified regulatory and compliance professional (CRPC).
DFPG Investments, Inc. Background
DFPG Investments, Inc. is principally owned by co-founder and principal Daniel Luke, co-founder and president Ryan Smith and co-founder and CEO Michael Bendix. The firm was founded in 2010. It become a registered investment advisor in 2015, and it is also a FINRA-approved broker dealer. A portion of the firm's broker-dealer representatives also act as investment advisors, and some also act as insurance dealers. These roles could pose potential conflicts of interest, as they present an opportunity to earn additional compensation. The firm is bound by fiduciary duty though, requiring it to always act in clients’ best interests.
Advisory services provided by DFPG Investments include financial planning, consulting services and portfolio/investment management services.
DFPG Investments, Inc. Investment Philosophy
DPFG Investments emphasizes tactical diversification and risk mitigation through diversification. The firm uses numerous investment types in client portfolios, which it analyzes using its proprietary model.
The firm largely formulates its investment strategies and determines the scope of its advisory services based on clients' goals, financial situations, investment objectives, time horizons and risk tolerance levels. Its services may include financial planning, which is focused on protecting assets, increasing portfolio value and preparing for the future.
Capita Financial Network, LLC
Capita Financial Network, LLC is based in Sandy, Utah, and has $316.74 million in assets under management (AUM). The firm's team includes five financial advisors, who primarily work with individual and high-net-worth individual investors, particularly retirees or those who are planning for retirement. Additionally, it's capable of providing investment advisory services to the trusts, estates and IRAs of individuals and their family members, as well as to 401(k) plans and small businesses.
Certain employees of Capita are also licensed insurance agents, and they may recommend insurance products as part of a financial plan. Because they earn a commission from selling these products, this presents a potential conflict of interest. Capita Financial Network is a fiduciary, however, meaning it's required to always act in clients' best interests.
Capita Financial Network, LLC Background
Capita Financial Network, LLC is a recently founded firm. It was formed in January 2018. It's principally owned by Capita Holdings, LLC, which is principally owned by MBL Financial, LLC, which is in turn owned by Michael Littledike, the founder and president of Capita Financial Network, and his wife Britney.
Capita can offer clients financial planning services and discretionary investment advisory services. The firm's investment advisory services include the selection of model portfolios.
Capita Financial Network, LLC Investment Philosophy
Capita Financial Network, LLC begins each client relationship with the creation of a financial plan. The firm then provides investment advice and recommends a model portfolio based on each client’s unique financial goals and risk tolerance.
The firm selects investments through a variety of methods of analysis, including benchmark comparisons, standard deviation, active share return, upside and downside capture and portfolio range. Capita notes in its Form ADV that it may select a "risk-based model portfolio sub-advised by a third-party investment advisor" who is responsible for the selection of investments.
Net Worth Advisory Group, LLC
The final firm on our list is Net Worth Advisory Group, LLC, another firm located in Sandy, Utah. The firm has $312.20 million in assets under management, which is overseen by its team of eight financial advisors. The team includes five certified financial planners (CFP).
The fee-only firm mainly works with individuals and high-net-worth individuals, though it can also provide advisory services to trusts, estates, business entities and pension and profit-sharing plans and other ERISA accounts. Net Worth Advisory Group generally requires a minimum account size of $100,000, although this may vary by advisor. Financial planning clients are exempt from account minimum requirements.
Net Worth Advisory Group, LLC Background
Net Worth Advisory Group has been in business since 2003. The firm is principally owned by its founder and managing partner, Ray LeVitre, and the firm’s other managing partner, David Swapp.
The firm provides a number of services, including financial planning, investment portfolio advice and referrals to third-party advisors. A client's financial plan may touch on a number of areas, such as tax planning, education financing, business and estate planning and insurance needs.
Net Worth Advisory Group, LLC Investment Philosophy
Net Worth Advisory Group actively manages client assets and uses both no-load and no-transaction fee investments. When building client portfolios, Net Worth Advisory Group incorporates the tenets of modern portfolio theory to create a portfolio that is in line with each client's risk tolerance.
The firm has a few investment strategies that it uses to identify investment opportunities. Its "Best Stocks, Best Funds" is a way to identify investment opportunities without high fees. "Sector Rotation" and "Tactical Momentum Allocation" are strategies to further diversify client portfolios so they can better weather turns in the market.