Finding a Top Financial Advisor Firm in White Plains, New York
Are you in search of a financial advisor firm in White Plains, New York? SmartAsset’s rundown of the top firms in the area can help make your search much easier. The entries below each detail the firm’s minimum investments, investing strategies, typical clients and more. The financial advisor matching tool from SmartAsset provides a more tailored approach, as it can pair you with up to three financial advisors in your area based on your personal preferences.
|Rank||Financial Advisor||Assets Managed||Minimum Assets||Financial Services||More Information|
|1||The Portfolio Strategy Group, LLC Find an Advisor||$1,565,189,480||$500,000|| || |
|2||Tortoise Investment Management, LLC Find an Advisor||$953,114,685||$2,500 minimum quarterly fee|| || |
Minimum Assets$2,500 minimum quarterly fee
|3||Matrix Asset Advisors, Inc. Find an Advisor||$717,392,000||$500,000|| || |
|4||Madison Advisory Services, Inc. Find an Advisor||$170,482,883||No set account minimum|| || |
Minimum AssetsNo set account minimum
|5||Prato Capital Management Find an Advisor||$109,700,000||No set account minimum|| || |
Minimum AssetsNo set account minimum
|6||Downtown Investment Advisory Find an Advisor||$106,132,000||$1,000,000|| || |
|7||Roundangle Advisors, LLC Find an Advisor||$93,576,787||No set account minimum|| || |
Minimum AssetsNo set account minimum
|8||Fox Financial Services, Inc. Find an Advisor||$77,367,092||$2,500 minimum annual fee|| || |
Minimum Assets$2,500 minimum annual fee
|9||Fleetwood Asset Management Ltd. Find an Advisor||$63,521,025||$250,000|| || |
|10||Financial Planning Associates, LLC Find an Advisor||$60,448,733||$250,000|| || |
How We Found the Top Financial Advisor Firms in White Plains, New York
SmartAsset’s experts narrowed the pool of potential financial advisor firms for this list by removing any that aren’t registered with the U.S. Securities and Exchange Commission (SEC) in White Plains, New York, as all SEC-registered companies have a fiduciary duty to act in their clients’ best interests. Next, we removed any firms that have disclosures, lack financial planning services or do not manage individual accounts. The culmination of this list can be found below, with each firm ordered based on its assets under management (AUM).
The Portfolio Strategy Group, LLC
The Portfolio Strategy Group, LLC is the first firm on our list. It has more than $1.5 billion in assets under management (AUM). The firm’s client base is mostly made of individuals with and without a high net worth, though some pooled investment vehicles, pension plans, charitable organizations and corporations have accounts as well.
Portfolio Strategy Group specializes in financial planning, fee-only investment management for both individuals and pooled investment vehicles and consulting. The firm has a minimum account size of $500,000, though this is waivable.
Portfolio Strategy Group Background
Portfolio Strategy Group was founded in 1990. It is a wholly-owned subsidiary of Focus Financial Partners, LLC. Among the firm’s six advisors, there is one certified financial planner (CFP), one chartered financial analyst (CFA) and one certified public accountant (CPA).
The firm charges a percentage of your AUM for its investment management fees, with the exact percentage at 0.75% for the first $10 million and a negotiable rate for any assets beyond that. If your portfolio is strictly comprised of fixed-income securities, the percentage is 0.50%. The firm doesn’t typically charge additional fees for financial planning or the formulation of an investment strategy.
Portfolio Strategy Group Investment Philosophy
Portfolio Strategy Group typically allocates client assets into one of three primary portfolio types: bond portfolios, equity portfolios and equity income portfolios. When analyzing potential bond investments, the firm will rely mostly on fundamental analysis of bonds, examining general financial and economic factors to determine if a bond is undervalued.
The firm will usually allocate assets to external managers for equity portfolios, and it will consider historical returns, investing style and management experience when deciding on managers. When analyzing equities for equity income portfolios, advisors will look at factors such as discounted cash flow, distributable cash flow, growth in corporate dividends and distributions and EBITDA, among other things.
Tortoise Investment Management, LLC
Tortoise Investment Management, LLC is a fee-only firm that opened for business back in 2004. It currently works with individuals, high-net-worth individuals and pension plans. The firm has roughly $953 million in assets under management (AUM).
The firm offers fee-only investment management services, as well as financial planning and consulting. Tortoise doesn’t impose a minimum account size, but it does have a $10,000 minimum annual fee. This may make its services prohibitive for clients with fewer assets.
Tortoise Investment Management Background
Tortoise Investment Management was founded in 2004 by Ian Yankwitt, who’s also the principal owner of the firm. A total of 11 advisors work here. Throughout this group, you’ll find one certified private wealth advisor (CPWA).
The firm typically calculates management fees as a percentage of your AUM, with the rate ranging from 1.00% to 1.25%. These fees will likely cover both investment management and financial planning services.
Tortoise Investment Management Investment Philosophy
Tortoise Investment Management approaches every client portfolio uniquely, as it believes every client has a distinctive financial situation. It typically invests in index or index-like mutual funds and exchange-traded funds (ETFs), although it may look to non-index funds or individual securities in rarer circumstances.
The investment approach at Tortoise emphasizes risk management, a long-term approach and tax-efficiency. It believes that it’s more important to maximize the probability of having enough money rather than striving to have the most money.
Matrix Asset Advisors, Inc.
Matrix Asset Advisors, Inc. has been an investment advisor in New York since 1986. Its 496-member client base is relatively diverse, and includes individuals, high-net-worth individuals, pension plans, charitable organizations, government entities, other investment advisors and non-matrix strategy assets. The firm has roughly $717 million in assets under management (AUM).
Matrix Asset Advisors provides investment management, wrap fee programs and financial planning services to its clients. Within its investment management offerings, clients can choose between several investment strategies including “Large-Capitalization Value,” “Matrix Dividend Income,” “Matrix-Managed Fixed-Income” and “Matrix-Managed Balanced.” The firm imposes an account minimum of $500,000, except for accounts using the Matrix Dividend Income investment strategy, for which the minimum is $100,000.
Matrix Asset Advisors Background
Matrix Asset Advisors was formed under the name Value Matrix Management in 1986 by David A. Katz and John M. Gates. The firm is owned entirely by employees, and Katz is the only owner with more than 25% ownership. Among the firm’s seven advisors, there are four chartered financial analysts (CFAs).
Matrix Asset Advisors charges its clients portfolio management fees as a percentage of their AUM. The specific percentage can range from 0.30% to 1.00%, depending on the value of your assets and the investment strategy you choose.
Matrix Asset Advisors Investment Philosophy
When analyzing equity securities, the firm will trend toward large-cap stocks, and disregard any with a debt-to-capitalization ratio higher than 45%. From there, advisors rely on eight proprietary valuation models and look for securities that perform well in at least two. Once these securities are identified, the firm looks to purchase those that it perceives the market is undervaluing.
Matrix Asset Advisors usually invests in individual stocks and fixed-income instruments. The large-capitalization value strategy results in 35 to 40 stocks, and the Matrix dividend income strategy results in 25 to 30. For clients looking for more diversification, the firm may allocate some assets to external managers.
Madison Advisory Services, Inc.
Madison Advisory Services, Inc. employs 12 financial advisors and has been in business since 2004. It has more than $170 million in assets under management (AUM), and it serves more than 730 clients. The majority of the firm’s clients are individuals, but it also manages money for high-net-worth individuals and businesses.
As a fee-based firm, certain advisors at Madison may earn commissions based on certain transactions. While this creates the potential for a conflict of interest, the firm is legally bound to act in its clients’ best interests due to its fiduciary duty.
Madison Advisory Services provides asset management and financial planning services, along with the selection of third-party advisors. Additionally, the firm offers access to a whole host of different wrap fee programs, some of which may have account minimums. The firm itself doesn’t impose a minimum account size.
Madison Advisory Services Background
Madison Advisory Services was formed in 2004, and its principal owner is Gary Schwartz. Of the firm’s 12 advisors, nine work out of its office in White Plains. Among these nine, there is one certified financial planner (CFP), one chartered financial analyst (CFA) and one certified public accountant (CPA).
For investment management services, the firm usually charges a percentage of your assets between 1.25% and 2.50%. Financial planning fees at the firm come as either a fixed fee between $250 and $20,000 or an hourly fee of $500.
Madison Advisory Services Investment Philosophy
Madison Advisory Services typically invests in mutual funds, exchange-traded funds (ETFs) and variable annuity sub-accounts. The firm will determine its focus on both the long term and short term depending on the time horizon and investment objectives of the client.
Madison will also recommend the use of independent investment advisors who will then manage a portion or all of a client’s assets. As mentioned previously, the firm provides access to several different wrap fee programs that differ in investment strategy.
Prato Capital Management
Prato Capital Management is a firm with three advisors that’s been doing business since 2014. It is a fee-based firm that offers advisory services to around 230 clients. These clients include individuals, high-net-worth individuals, pension plans, charitable organizations and trusts.
The firm provides services including financial planning, portfolio management and consulting for retirement plans. Prato doesn’t impose any sort of minimum account size.
Some Prato advisors are licensed to sell insurance products, which may generate commissions. This creates a potential conflict of interest, but the firm is bound by fiduciary duty to always act in its clients’ best interests.
Prato Capital Management Background
Prato Capital Management was founded in 2014 by Gregory Prato, and it’s been registered as an investment advisor since 2017. Prato is also the firm’s sole owner and one of its three advisors. None of the three have certifications, such as a certified financial planner (CFP) or a certified public accountant (CPA) designation.
Financial planning fees can be either fixed or hourly, with fixed fees ranging from $1,500 to $10,000, while hourly fees do not exceed $500. Fees for portfolio management services are calculated as 2.00% of your assets under management (AUM), although the exact percentage is negotiable.
Prato Capital Management Investment Philosophy
Asset allocation is the center of Prato Capital Management’s investment strategy. The firm will establish each client’s investing goals, risk tolerance and time horizon, then it will determine an appropriate allocation across equities, fixed-income securities, international equities and cash and equivalents. How willingly the firm will tweak this target allocation likely depends on the client’s specific preferences.
The firm will primarily invest in exchange-traded funds (ETFs), mutual funds and individual stocks and bonds. However, it may consider a wide range of securities depending on the client’s objectives and risk tolerance.
Downtown Investment Advisory
Downtown Investment Advisory has grown to manage roughly $106 million in assets since its founding in 2013. Of the firms on this list, only Fleetwood Asset Management has a smaller client base than Downtown. The firm’s 60 clients are individuals, high-net-worth individuals, pension plans, charitable organizations and corporations.
The firm primarily provides investment advisory services, although it will also perform financial planning on request. Downtown Investment Advisory is the most exclusive firm on this list, requiring new clients to have at least $1 million in investable assets.
Downtown Investment Advisory Group Background
Downtown Investment Advisory was first established in 2013, but it became a registered investment advisor in 2017. Salo Aizenberg is the principal owner of the firm, and he also acts as its sole advisor.
Fees for investment advisory services are 1.00% of clients’ assets under management (AUM), though this rate falls to 0.90% for accounts worth more than $2 million. The firm usually won’t charge a separate fee for financial planning services.
Downtown Investment Advisory Investment Philosophy
First, individual stocks are more volatile than a fund of potentially hundreds of stocks. Second, the firm believes that selecting the proper industry sectors and index funds is a much better long-term strategy than betting on individual stocks.
The firm will consider each client’s time horizon and risk tolerance before deciding the appropriate amount of exposure to both equity and fixed-income investments. For clients closer to retirement, fixed-income will play a more prominent role. For younger, more aggressive investors, the reverse may be true.
Roundangle Advisors, LLC
Roundangle Advisors, LLC is an advisory firm serving 20 clients who own $93.5 million in investable assets. Founded in 2015, the firm works with individuals, high-net-worth individuals and corporations.
The firm is fee-based, which means its advisors may earn commissions for conducting certain transactions, like insurance product sales. Although this presents a potential conflict of interest, the firm is also bound by fiduciary duty to act in your best interest at all times.
The firm provides clients with asset management as part of a wrap fee program. In addition, you can subscribe to consulting for retirement plans, investment advice, financial planning and general consulting. The firm doesn’t have an account minimum.
Roundangle Advisors Background
Roundangle Advisors was established in 2015, and it’s principally owned by Jonathan Bernstein and Kuzari Asset Management, LLC. Bernstein also acts as the firm’s chief compliance officer (CCO).
Roundangle has six advisors on its staff. Among these, Bernstein is both a certified financial planner (CFP) and a certified public accountant (CPA), and another advisor is a chartered financial analyst (CFA).
Financial planning fees are typically charged as an hourly fee with a maximum of $300 or as a flat fee between $1,500 and $10,000. For asset management services, the firm charges a percentage of your assets that won’t exceed 2.00%.
Roundangle Advisors Investment Philosophy
Roundangle Advisors generally provides recommendations on individual stocks and bonds, exchange-traded funds (ETFs), options, mutual funds and other public and private securities or investments.
The firm generally focuses on asset allocation more so than individual security selection when constructing client portfolios. To come to the proper asset allocation, advisors will factor in the client’s current financial situation, time until retirement, comfort with risk and overall investing goals, as well as other factors.
Fox Financial Services, Inc.
Fox Financial Services, Inc. has been doing business in the White Plains area since 1993. The firm currently has just over $77 million in assets under management (AUM) from its 68 clients. Currently its clients are all individuals, with some being high-net-worth and some not. Fox is one of two firms on this list with such a client base. The firm doesn’t have a minimum account size, but it does have a minimum annual fee of $2,500, which could be cost prohibitive for clients with a low net worth.
Fox offers fee-only portfolio management services, as well as financial planning and consulting. Financial planning can cover, cash management, risk management, insurance, education funding, retirement planning, estate and charitable giving planning, tax planning and capital needs planning.
Fox Financial Services Background
Fox Financial Services first opened its doors back in 1993. Its principal owner is also its founder, president, chief compliance officer (CCO) and sole advisor, Andrew Fox. In addition to his many hats, Fox also holds the certified financial planner (CFP) designation.
For asset management services, Fox Financial charges a percentage of your AUM. This rate comes out to either 0.75% or 1.00% depending on the value of your portfolio. Financial planning fees are typically offered to clients at no extra charge.
Fox Financial Services Investment Philosophy
When creating client portfolios, Fox doesn’t have a standard collection of investment products that it pulls from. It, however, does typically allocate client assets into some combination of equity, fixed-income and cash instruments. Fox prefers to invest with a long-term perspective in mind, as it believes this method provides a much better chance of sustainable success than constant, short-term tweaks or attempts to time the market.
Fleetwood Asset Management Ltd.
Fleetwood Asset Management Ltd. is a wealth advisory firm established in 2004. Over the years, its client base has grown to about 45 members, and it currently manages roughly $63 million in assets. The firm’s clients are an even split between non-high-net-worth individuals and high-net-worth individuals.
The firm specializes in investment management and financial planning services. It generally requires at least $250,000 in investable assets, but it may waive this minimum at its discretion. Fleetwood Asset Management is a fee-only firm.
Fleetwood Asset Management Background
Fleetwood Asset Management was established in 2004, though it first registered with the SEC in 2007. The firm’s principal owner and only advisor is Joan M. Guccione, who is a certified financial planner (CFP).
For investment management services, the firm will typically charge between 0.30% and 1.25% of your managed assets. Where your exact rate falls within that spectrum will depend on the market value of your assets. For financial planning, the firm typically charges a $250 hourly fee.
Fleetwood Asset Management Investment Philosophy
Each client of Fleetwood Asset Management will begin the investment process by completing a “client questionnaire survey,” which provides the firm with crucial information about your personal investing goals, time horizon and risk tolerance. From there, the firm will assemble investing recommendations that fit in with the unique variables you’ve presented.
Fleetwood Asset Management subscribes to modern portfolio theory (MPT), which is the attempt to maximize investment return for a given level or risk. A carefully built asset allocation and global diversification are usually integrated as part of MPT.
Financial Planning Associates, LLC
Financial Planning Associates, LLC is an advisory firm that’s been doing business since 2011. It works largely with high-net-worth individuals, but it also counts non-high-net-worth individuals and pension plans as clients.
Portfolio management and financial planning make up the core of the firm’s services. Additionally, the firm may recommend allocating a portion or all of a client’s portfolio to the management of an independent money manager. The firm generally imposes an account minimum of $250,000 for new clients, though this is waivable.
One advisor at the firm is licensed to sell insurance products, and therefore may earn additional commissions for these sales. This makes the firm fee-based and creates the potential for a conflict of interest. Despite this, the firm has a fiduciary duty to act in the best interests of its clients at all times.
Financial Planning Associates Background
Financial Planning Associates was founded in 2011 by Antonio A. Taddeo. Taddeo is the firm’s principal owner and one of two advisors, along with Stephen T. Gillingham. Both advisors are certified financial planners (CFPs), and Gillingham is also a chartered financial consultant (ChFC).
Fees for investment management services range from 0.75% to 1.25% of your assets under management (AUM). For clients with more than $3 million in AUM, the percentage is negotiable. When it comes to financial planning services, the firm charges either an hourly fee between $100 and $350 or a flat fee between $400 and $3,500.
Financial Planning Associates Investment Philosophy
Financial Planning Associates invests primarily in individual stocks and bonds, as well as mutual funds to a lesser extent. The firm may invest in a larger share of mutual funds for clients with smaller accounts, as it would be difficult to achieve the proper level of diversification with just individual stocks. For larger accounts, though, the firm typically invests in 90% individual stocks and bonds and 10% mutual funds and bond funds.
The firm believes strongly in a buy-and-hold approach that’s based on fundamental analysis. Fundamental analysis involves analyzing a company’s financial documents, past management, and the overall economy, then gauging the company’s intrinsic value to determine if the market is adequately pricing the company’s stock. The firm looks to find good stocks that are being undervalued, purchasing them with the intent to hold for several years.