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 detail each firm’s minimum investments, investing strategies, typical clients and more. SmartAsset's financial advisor matching tool can also do the hard work for you, as it will connect you with up to three financial advisors who serve your area.
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|Rank||Financial Advisor||Assets Managed||Minimum Assets||Financial Services||More Information|
|1||The Portfolio Strategy Group, LLC Find an Advisor||$2,325,947,031||Varies based on account type|| || |
Minimum AssetsVaries based on account type
|2||Tortoise Investment Management, LLC Find an Advisor||$1,347,052,817||No set account minimum|| || |
Minimum AssetsNo set account minimum
|3||Matrix Asset Advisors, Inc. Find an Advisor||$994,434,097||Varies based on account type|| || |
Minimum AssetsVaries based on account type
|4||Madison Advisory Services, Inc. Find an Advisor||$378,025,083||Varies based on account type|| || |
Minimum AssetsVaries based on account type
|5||Prato Capital Management Find an Advisor||$166,731,149||No set account minimum|| || |
Minimum AssetsNo set account minimum
|6||Fox Financial Services, Inc. Find an Advisor||$95,744,794||No set account minimum|| || |
Minimum AssetsNo set account minimum
|7||Fleetwood Asset Management Ltd. Find an Advisor||$85,878,950||$250,000|| || |
|8||Milagre Wealth Management, Inc. Find an Advisor||$92,485,487||No minimum asset requirement|| || |
Minimum AssetsNo minimum asset requirement
|9||Financial Planning Associates, LLC Find an Advisor||$69,721,742||$250,000|| || |
What We Use in Our Methodology
To find the top financial advisors in White Plains, 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 Portfolio Strategy Group
The Portfolio Strategy Group, LLC is the first firm on our list. 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.
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 advisors, certifications include their certified financial planner (CFP) and chartered financial analyst (CFA).
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 0.5%. 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 the 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
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 offers fee-only investment management services, as well as financial planning and consulting. Tortoise doesn’t impose a minimum account size. However, it does have a $10,000 minimum annual fee, which is 1% of $1 million. This may make its services prohibitive for clients with investable assets of less than seven figures.
Tortoise Investment Management Background
Tortoise Investment Management was founded in 2004 by Ian Yankwitt, who’s also the principal owner of the firm.
The firm typically calculates management fees as a percentage of your AUM, with the rate ranging from 0.5% 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
Matrix Asset Advisors, Inc. has been an investment advisor in New York since 1986. Its client base is relatively diverse and includes individuals, high-net-worth individuals, pension plans, charitable organizations, other investment companies and advisors and non-matrix strategy assets. This is a fee-only firm.
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 majority owner with more than 67% ownership.
Among the firm’s advisors, there are a handful of chartered financial analysts (CFAs).
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 invest 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
Madison Advisory Services, Inc. has been in business since 2004. The majority of the firm’s clients are individuals and high-net-worth individuals, but it also manages 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 advisors, most work out of its office in White Plains.
For investment management services, the firm usually charges a percentage of your assets between 1.25% and 2.5%. 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 that’s been doing business since 2014. It is a fee-based firm that offers advisory services to its 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 advisors at this firm 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 advisors.
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% 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 investment 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.
Fox Financial Services
Fox Financial Services, Inc. has been doing business in the White Plains area since 1993. Currently, its clients are all individuals, with some being high-net-worth and some not. The firm doesn’t have a minimum account size, but it does have a minimum annual fee of $2,500, which is 1% of $250,000 and 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% depending on the value of your portfolio. Financial planning is typically offered to clients at no extra charge.
Fox Financial Services Investment Philosophy
When creating client portfolios, Fox Financial 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
Fleetwood Asset Management Ltd. is a wealth advisory firm established in 2004. The firm’s clients are a nearly 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 0.3% 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 the unique variables each client 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.
Milagre Wealth Management
Milagre Wealth Management provides fee-based investment advisory services. This means that they may receive a fee for any investment products that are sold, but still must uphold a fiduciary duty to their clients. Milagre offers both investment management services as well as general financial planning and estate planning.
Milagre services its clients in a number of ways, from face-to-face meetings to web meetings or via phone. They also produce informational videos and distribute these to their clients to help educate them on how they think about their investment strategy. The firm has a family-first approach to its clients. They work with both high-net-worth and non-high-net-worth individuals.
Milagre Wealth Management Background
Milagre was founded in 2020 by Paul dos Santos, who is the sole owner and CEO today. Paul is the sole advisor at the firm, which has been able to accumulate over $92 million in assets under management over the past two years.
Milagre's base fee works on a tiered structure, depending on how much AUM each client has. Up to $5 million AUM requires a 1.5% management fee, between $5 million and $10 million brings a 1.25% fee, and more than $10 million in AUM brings a 1% fee.
Milagre Wealth Management Investment Philosophy
Milagre uses a two-pronged investment strategy between long- and short-term purchases to meet the needs of each client. A long-term purchase brings the intent of holding the asset in the client's portfolio for longer than one year. Short-term assets are primarily used to produce a quick profit on assets that are likely to bring a price swing in less than one year.
Milagre provides advice on equity securities, fixed income securities, mutual funds, ETFs, foreign securities, U.S. treasuries, cash, cash equivalents and money markets.
Financial Planning Associates
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 (rather than fee-only) 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. Advisory certifications at the firm include certified financial planners (CFP) and chartered financial consultants (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.
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 them for several years.