Finding a Top Financial Advisor Firm in Virginia Beach, Virginia
You want to carefully consider all your options before choosing a financial advisor. After all, it’s your retirement and investment future that’s at stake. To make it easier, we gathered the top advisors in Virginia Beach, Virginia and researched each business. Below we give you details on the firms that made the cut. You can also try SmartAsset's free financial advisor matching tool, which can pair you with as many as three advisors who serve your area.
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|Rank||Financial Advisor||Assets Managed||Minimum Assets||Financial Services||More Information|
|1||The Ascent Group Find an Advisor||$2,515,790,834||Varies based on account size|| || |
Minimum AssetsVaries based on account size
|2||Financial Security Advisory, Inc. Find an Advisor||$1,206,674,000||No set account minimum|| || |
Minimum AssetsNo set account minimum
|3||Compton Wealth Advisory Group, LLC Find an Advisor||$578,249,406||No set account minimum|| || |
Minimum AssetsNo set account minimum
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|4||Beacon Harbor Wealth Advisors, Inc. Find an Advisor||$405,410,468||$2,000|| || |
|5||Monaco Capital Management Find an Advisor||$204,847,400||$100,000|| || |
|6||Virginia Wealth Management Group, Inc. Find an Advisor||$255,064,102||No set account minimum|| || |
Minimum AssetsNo set account minimum
What We Use in Our Methodology
To find the top financial advisors in Virginia Beach, we first identified all firms registered with the SEC in the city. Next, we filtered out firms that don't offer financial planning services, those that don't serve primarily individual clients and those that have disclosures on their record. The qualifying firms were then ranked according to the following criteria:
- AUMFirms with more total assets under management are ranked higher.
- Individual Client CountFirms who serve more individual clients (as opposed to institutional clients) are ranked higher.
- Clients Per AdvisorFirms with a lower ratio of clients per financial advisor are ranked higher.
- Age of FirmFirms that have been in business longer are ranked higher.
All information is accurate as of the writing of this article. This list may include firms that have a business relationship with SmartAsset, in which SmartAsset is compensated for lead referrals. Such relationships have no impact on our rankings, and firms are included and ranked based strictly on the above criteria.
The Ascent Group is a fee-based advisor, meaning some advisors at the firm earn commissions for selling insurance or securities. This is a conflict of interest, but advisors are still required to act in the best interest of the client when serving as an advisor. Most of the clients of the firm are individuals, with the vast majority not having a high net wealth. Institutional clients include pension and profit sharing plans, charitable organizations and corporations.
Financial planning and consulting fees are charged hourly or on a fixed basis, while investment management fees are charged a percentage of assets under management. The minimum account size depends on the services used.
The firm’s website does not provide a list of advisor certifications.
The Ascent Group Background
TAG was founded in 2021 and is owned by Jeffrey M. Silverman, Michael J. Moss, Jr., Justin R. Craft, Brian P. Walsh, Mark S. Batzel, David W. Stockmeier, Craig M. Stanley, Kevin P. Nicholson, and Brian P. Walsh, Jr.
Services offered at TAG include financial planning, consulting services, retirement planning, portfolio review, estate planning, investment management and wealth management.
The Ascent Group Investment Strategy
Nearly two-thirds of the firm’s investments are in individual stocks, while just less than one-third are in mutual funds. The rest is split between cash holdings and bonds.
Financial Security Advisory
Financial Security Advisory ranks first on our list. The fee-based firm has offices in Virginia Beach and in Newport News, Virginia. Outside of Virginia, the firm has offices in West Mystic, Connecticut, and Jacksonville, North Carolina. The firm employs advisors with certifications such as certified financial planner (CFP), chartered financial analyst (CFA), chartered financial consultant (ChFC), chartered life underwriter (CLU) and more.
While there isn’t an asset minimum requirement, clients are subject to a $1,200 minimum annual fee. The firm's clients are primarily individuals who don't have a high net worth. It also serves high-net-worth individuals, trusts, estates, corporate pension and profit-sharing plans, charities and corporations or business entities.
Some of the advisors who work here can receive commissions for insurance sales. Despite this, the firm is legally required to act in clients' best interests due to its fiduciary duty.
Financial Security Advisory Background
Financial Security Advisory was established in 1997. It has several owners, all of whom are employees at the firm.
Clients can choose from financial planning and investment strategies.
Financial Security Advisory Investment Strategy
Similar to many financial advisor firms, Financial Security Advisory believes in asset allocation as a bedrock of its investment strategy. Advisors try to find the right mix of securities, fixed income and cash to suit a client's investment objectives, risk tolerance, time horizon and cash flow needs.
This firm provides advice and portfolios consisting of mutual funds, stocks, bonds, exchange-traded funds (ETFs) and other securities. To choose these investments, the firm uses fundamental analysis and technical analysis and third-party research.
Compton Wealth Advisory Group
Compton Wealth Advisory Group lands in second in our ranking of the top Virginia Beach financial advisor firms. The firm has a small team of advisors on staff. Certifications at the firm include chartered retirement planning counselor (CRPC), certified financial planner (CFP) and certified public accountant (CPA).
Compton is primarily focused on providing customized investment management services to high-net-worth individuals, specifically owners and executives of private and public corporations. It also works with those individuals' associated trusts, estates and other legal entities. While the firm does not impose a minimum account size requirement, third-party investment managers may impose their own requirements.
In addition to the fees it charges clients, certain employees of the firm may also earn commissions in their roles as licensed insurance agents. While this presents a potential conflict of interest, clients are allowed to purchase recommended insurance products elsewhere. Moreover, the firm is bound by fiduciary duty to put clients' best interests before its own.
Compton Wealth Advisory Group Background
Compton Wealth Advisory Group was founded in 2009. Mark Compton, managing member at Compton, wholly owns the firm.
Services offered by the firm include financial planning and investment advisory and management services. Financial planning services cover topics including retirement, education funding, insurance and estate planning.
Compton Wealth Advisory Group Investment Process
Compton Wealth Advisory Group starts the process by holding an initial meeting with each prospective client. During this meeting, the firm explains its services and both its own responsibilities and those of client. If both parties decide to proceed, the firm will then learn more about the client's financial situation and help the client to define his or her goals, objectives and risk tolerance. This will include retirement goals, income needs, education funding, family legacy or estate planning, charitable gifting, tax considerations and risk tolerance.
Compton will then determine appropriate investment strategies based on the above information. Once it has the client's approval, it will implement its plan. The firm meets regularly with clients to discuss progress and also provides quarterly account statements through Schwab.
Beacon Harbor Wealth Advisors
Beacon Harbor Wealth Advisors is the next firm on our list. This small advisory firm works almost exclusively with individuals, and most of those individuals are those without a high net worth. It also works with a small number of pensions, profit sharing plans, charities and businesses. The firm has a $2,000 minimum account size requirement, which is quite low.
Beacon Harbor is a fee-only firm. Despite having some insurance affiliations, advisors who sell insurance do not receive commissions. As a result, the firm is not fee-based because it doesn't receive any third-party commissions, instead receiving advisory fees directly from clients for services rendered.
Beacon Harbor Wealth Advisors Background
Beacon Harbor Wealth Advisors was founded quite recently in 2018. The firm is co-owned by Jeremy W. Ingram, co-president, CEO, chief investment officer and chief compliance officer and George G. MacDonald, Jr., co-president and CEO. Ingram is a chartered financial analyst (CFA).
Beacon Harbor provides its clients with investment management and financial planning services. Its financial planning services include a wide range of focuses, including:
- Business planning
- Cash flow and debt management
- College savings
- Employee benefits optimization
- Estate planning
- Financial goals
- Investment analysis
- Retirement planning
- Risk management
- Tax planning strategies
Beacon Harbor Wealth Advisors Investment Strategy
Beacon Harbor, like many other firms, tailors its investment strategies based on each of its clients. Advisors work with clients to determine an overall financial profil, taking into account risk tolerance, financial goals, investment history, time horizon and any other relevant information.
Advisors at Beacon Harbor use fundamental, technical, charting and cyclical analysis to help inform their investment decisions. They also use a combination of active and passive management techniques. The firm may also use unaffiliated investment managers to help build client portfolios.
Monaco Capital Management
Monaco Capital Management is a small firm that works mainly with individual clients, the majority of which do not have a high net worth. However, most of the firm's individual assets come from high-net-worth clients. In terms of institutional clients, the firm works with a few pensions, profit sharing plans, charities and other businesses.
Monaco imposes a $100,000 account minimum. It is also a fee-based firm, because advisors may receive commissions from the sale of financial products. This is a potential conflict of interest. However, the firm is a fiduciary. This makes it legally obligated to act in the best interests of clients at all times.
Monaco Capital Management Background
Monaco Capital Management was founded in 2003, making it one of the older firms on our list. After being registered with a number of states, it became an SEC-registered investment advisor in 2020. Dr. Joseph A. Monaco, one of the firm's advisors and its namesake, is the principal owner of the firm.
Monaco Capital Management provides clients with asset management services and financial planning on a range of topics. They may also provide tax preparation services.
Monaco Capital Management Investment Strategy
Monaco Capital Management, like many other financial advisory firms, tailors its advisory services to the needs of its clients. This process involves gathering information on a client's risk tolerance, financial situation and investment objectives and then using that information to craft an individualized investment plan.
Advisor primarily use equities, bonds, mutual funds and exchange-traded funds (ETFs) to populate client portfolios. They may use fundamental and technical methods of analysis.
Virginia Wealth Management Group
Virginia Wealth Management Group is a small advisory firm with a similarly small team of advisors. This firms works almost entirely with individual clients, and there are slight more high-net-worth individual clients than there are non-high-net-worth individual clients at the firm. Institutional clients include a few charities and other businesses.
Virginia Wealth Management Group is a fee-only firm, so advisors don't earn commissions that could be considered a conflict of interest. There is no set account minimum for opening an account with the firm.
Virginia Wealth Management Group Background
Founded in 2020, Virginia Wealth Management Group is the youngest firm on our list. It became an SEC-registered investment advisor in 2020 as well. Stephen Saal and Scott Saal are the firm's owners. Scott is a certified financial planner (CFP) and is the president of the firm. Stephen is the firm's CEO.
Virginia Wealth Management Group works with clients to provide individualized investment management services, and they take particular pride in their individualized approach.
Virginia Wealth Management Group Investment Strategy
Virginia Wealth Management Group is steadfast in its belief that providing a tailored approach for every client based on their financial situation is the key to success. Advisors work one-on-one with clients to determine their overall financial situation and then use that information to guide the financial advisory process.
When it comes to populating client portfolios, advisors typically use a mix of equities, debt, exchange-traded funds (ETFs) and mutual funds. Strategies are always designed to be risk appropriate, cost effective and tax efficient.