Top 7 Best Financial Advisors in Philadelphia, PA | 2017 Ranking | Greater Philadelphia Area Wealth Managers


2017 RANKING & REVIEWS
TOP RANKING FINANCIAL ADVISORS IN PENNSYLVANIA


Finding the Top Financial Advisors in Philadelphia, Newtown, Malvern, Wayne, and Bala Cynwyd, PA

When selecting a financial advisor or wealth management firm in Philadelphia and other cities in Pennsylvania, you want a firm you can trust. That goes without saying.

What’s harder to pinpoint is exactly how to know that you can trust specific wealth management firms in Pennsylvania over others. What features propel them to the “head of the class,” so to speak?

To make matters worse, some wealth managers might promise the moon, thereby making themselves appear extremely attractive to prospective clients. It’s natural to gravitate toward wealth management firms in Pennsylvania that make big promises. After all, who doesn’t want high rates of return in shorter-than-usual time frames with almost zero risk?

But you should know better than to blindly believe these kinds of financial planners in Pennsylvania. 

Sure, you want good rates of return, but you don’t feel comfortable violating your risk threshold. You want to hit your short-term goals, but not at the expense of high taxes, draining operational costs, or hidden fees and commissions.

You also don’t want a Pennsylvania wealth management firm that sacrifices your long-term goals just to meet your short-term ones. What’s more, you want a Pennsylvania financial planner that sticks around to see those long-term goals become a reality.

You want a wealth management firm in Pennsylvania that will advise you at every stage of life–through the good, the bad, and the uncertain–for as long as you need. Not someone who gets your name on a contract and then forgets you on their client roster.

Furthermore, you want a top wealth manager: the kind that makes only reasoned, sound investments. Philadelphia (and other Pennsylvania) financial planners that attempt to time the market are not for you. The same goes for any Pennsylvania financial advisor that follows the latest fads and market trends.

You’re looking for stable, established Registered Investment Advisors in Pennsylvania that have a history of helping clients succeed. Fly-by-night operations can, quite simply, fly by.

We understand your need to hire only the best financial planners in Philadelphia, Newtown, Wayne, Bala Cynwyd, and other regions in Pennsylvania.

To that end, we've provided an overview of some of the best finanical advisors in Philadelphia and other cities in Pennsylvania.

Award Emblem: Top 7 Best Financial Advisors in Philadelphia, PA



AdvisoryHQ’s List of the Top 7 Best Financial Advisors in Philadelphia, PA

List is sorted alphabetically (click any of the firms below to go directly to the detailed review section for that advisor)

Click here for 2016's "Top 8 Best Financial Advisors in Philadelphia"


Top 7 Best Financial Advisors in Philadelphia, PA | Brief Comparison

Firm Highlighted Features
Abacus Wealth Partners Abacus Rainbow Portfolio
Blue Bell Private Wealth Management Diversified Investment Opportunities
Hoover Financial Advisors Case Studies
Locust Capital Management Open Door Policy
RTD Financial Advisors, Inc. Personalized Financial Planning
Summit Financial Advisor Second Opinion Hourly Consulting
Wescott Financial Advisory Group, LLC Quarterly Wealth Management Program Report

Table: Top 7 Best Financial Advisors in Pennsylvania | Above list is sorted alphabetically


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AdvisoryHQ’s Selection Methodology

What methodology does AdvisoryHQ use in selecting and finalizing the credit cards, financial products, firms, services and products that are ranked on its various top rated lists?

Please click here “AdvisoryHQ's Ranking Methodologies” for a detailed review of AdvisoryHQ’s selection methodologies for ranking top rated credit cards, financial accounts, firms, products, and services.


Detailed Review – Top Ranking Best Financial Advisors in Pennsylvania

Below, please find the detailed review of each firm on our list of the best wealth management firms in Pennsylvania. We have highlighted some of the factors that allowed these Pennsylvania financial advisory firms to score so high in our selection ranking.

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Abacus Wealth Partners Review


Abacus Wealth Partners is committed to helping people get their finances in order. This wealth management firm in Philadelphia has the credentials, the experience and the…drama?

That's right. A little over two decades ago, Abacus founder, Spencer Sherman, ran into a burning building in Philadelphia to save his clients' files. It's a rather theatrical way to demonstrate the most desired quality in any Philadelphia financial planner: devotion to one's clients. 

He eventually leveraged his experience and devotion into the creation of Abacus with his co-founder Brent Kessel. Since then they have been committed to growing Abacus by seeking out the most talented financial advisors in Philadelphia and maintaining their independence from third parties. 

Abacus Wealth Partners is a fee-only wealth management firm, which means their compensation comes solely from their clients, allowing them to maintain their independence and commitment to their clients. 

Key Factors That Enabled This Firm to Rank as a Top Wealth Management Firm in Philadelphia

Below are key factors that enabled Abacus Wealth Partners to rank as a top wealth management firm in Pennsylvania.

Roadmap-Style Financial Planning

Abacus is acutely aware that their clients' futures are not predictable. Volatility in the stock market is something any financial planner in Philadelphia expects, but some forget that the same is true of people's lives. People have to be ready for anything when they are creating a financial plan including the birth of children, grandchildren, selling a business or rental property, getting audited by the IRS, and more. 

This is something that Abacus is aware of, and it is why their Philadelphia financial planners use a roadmap approach to financial planning.

What exactly does this mean?

They create a roadmap that prioritizes the your most importance concerns related to financial planning. These Philadelphia financial planners do this by examining the following six areas:

  • Goals
  • Money
  • Safety 
  • Taxes
  • Death
  • Impact

During the Goals portion, your Philadelphia financial advisor will get to know you deeply in order to understand what is important to you, what is important to your family, and what plans you have for your money. It doesn't matter what your goal is.

It could be something tangible like a car or something intangible like "financial independence." Whatever it is, this team of Philadelphia financial planner will help you get there. 

The Money portion will help you answer questions related to getting the resources you need to meet the goals you discussed. This conversation with your Philadelphia financial planner will help you determine how much money you need to save, how to make charitable contributions in a way that is tax-smart, how you should arrange your financial portfolio, and more. 

The Safety planning is just as important as the Goals and Money section. This step helps protect you from risk and any unexpected life events that may throw your financial planning into chaos.

And since this wealth management firm in Philadelphia is independent and fee-only, clients can rest assured any recommendations are made with a client's best interests in mind and not a financial planner's sales goals. 

The Taxes conversation helps clients ensure they are not paying more taxes than they need to. Financial planning involves a lot of layers including investing and estate planning. You want to make sure your money goes to your family or to your charities of choice – not primarily to the IRS – and this wealth management firm in Philadelphia can help you do that. 

Death is the least pleasant part of the financial planning process, but if you want your family to be comfortable and to leave a legacy that is in line with your values, it is a vital step. This Philadelphia wealth management firm can help clients create a plan that minimizes the tax burden and inconvenience felt by their heirs. 

The Impact section addresses how to give back to your community and what kind of legacy you will leave behind. Your financial advisor in Philadelphia will help you plan philanthropic initiatives in a way that is in line with your values. 

Image Source: Abacus Wealth Partners

Abacus Rainbow Portfolio

The Abacus Rainbow Portfolio is a dynamic, multifaceted investment portfolio. The Philadelphia financial planners at Abacus use this model to develop a longterm, productive relationship with their clients. Abacus provides the following reasons for why clients should trust this wealth management firm in Philadelphia with their investing guidance:

  • You have better things to do than researching and rebalancing investments. 
  • You need a professional financial planner in Philadelphia to help you keep a cool head during market fluctuations. 
  • You want access to exclusive investments. 
  • You want expert advice to help you with what seems like the scary process of financial planning. 

The Abacus investment approach believes that it is possible to make positive social and environmental contributions without compromising financial returns. They believe in diversified investments, building a disciplined investment strategy built on research instead of emotions, and investing globally. 

Educational Resources for Investors

There are people who want to educate themselves about financial planning, but they are not yet ready to obtain the services of a wealth management firm in Philadelphia. There may even be clients who just want to educate themselves on their own time.

Abacus offers a number of self-study financial resources to help do-it-yourself investors. There are several learning resources and suggested books. This wealth management firm in Philadelphia also offers a useful calculator tool and even a quiz to help you discover your money personality.

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Blue Bell Private Wealth Management Review


Blue Bell Private Wealth Management is located in the Philadelphia suburb of Blue Bell. This wealth management firm in Philadelphia has over 80 years of combined experience helping clients get their financial futures organized.

These Philadelphia financial planners prioritize building longterm relationships with their clients and guaranteeing that everyone who works with Blue Bell leaves more financially secure than when they arrived.

Blue Bell Private Wealth Management is a fee-only wealth management firm in Philadelphia. 

Key Factors That Enabled This Firm to Rank as a Top Wealth Management Firm in Philadelphia

Below are key factors that enabled Blue Bell Private Wealth Management to rank as a top wealth management firm in Pennsylvania.

Diversified Investment Opportunities

Investing comes with a lot of choices and no guarantees. It is far from gambling, but it does involve risk, and navigating those risks requires experience and expertise. This is why people with money burning a hole in their savings account can benefit from the wealth generating knowledge of a financial planner in Philadelphia. 

Blue Bell helps its clients identify appropriate investment opportunities. This is a step that is often a huge deterrant for investors. If there is little understanding of the markets, inexperienced investors may choose securities haphazardly and shoot themselves in the foot. From the jump, having a Philadelphia financial planner reaps rewards. 

The team of Philadelphia financial advisors at Blue Bell helps clients diversify their investment portfolios and make strategic, well thought out choices. Potential investment options include:

  • Closed-end funds
  • Structured investments
  • Exchange-traded funds
  • Options strategies

Blue Bell also provides information on these investment options on their site for people who want to know a little bit more before committing to this wealth management firm in Philadelphia. 

Image Source: Blue Bell Private Wealth Management

Comprehensive Educational Resources

Blue Bell provides a page with comprehensive financial education resources. Financial advisors in Philadelphia and elsewhere sometimes make the assumption that their clients know more about money than they do. A client may be brilliant in one area (in fact, that may be how they made all this money they wish to invest!) but lack knowledge about complicated money matters. 

This is where accessible resources come in handy. Blue Bell's resources page includes information for several levels of experience. They have general links to site like the Wall Street Journal and Yahoo! Finance, but they also have more specific links for closed-end funds, exchange-traded funds, inheritance tax, and more. 

Media Presence

This top wealth management firm in Philadelphia and its financial planners have been featured in a number of publications where they provide their insight on topics relevant to investors. Some of these publications include:

  • Bankrate
  • Bloomberg
  • Business Week
  • CFA Magazine
  • Financial Times
  • Forbes
  • The Wall Street Journal

 This wealth management firm in Philadelphia also publishes a quarterly newsletter that is available on their site.


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Hoover Financial Advisors, PC Review


Hoover Financial Advisors, PC is a Philadelphia registered investment advisory firm based in the suburb of Malvern, PA.

Founded in 2005 by Peter K. Hoover, the firm was inspired by the covered bridges of Hoover’s home county, Chester County in Pennsylvania.

Hoover draws a parallel between the ability of Chester County’s covered bridges–protecting families and workers–to the mission of Hoover Financial Advisors, PC.

This wealth management firm in Pennsylvania does not explicitly identify itself as a fee-only firm, however, they state that they do not sell any products or services and do not have any proprietary products or corporate obligations. 

Key Factors That Enabled This Firm to Rank as a Top Wealth Management Firm in Pennsylvania

Below are key factors that enabled Hoover Financial Advisors, PC to rank as a top Pennsylvania financial advisory firm.

SEC-Registered Investment Advisor

Hoover is among our list of Pennsylvania investment advisors who are registered with the SEC.

It is independent, a fiduciary, and is not obligated to fulfill quotas contingent on sales or performance. It also does not serve a controlling entity’s overriding interests or satisfy referral-based partnerships.

Instead, it strives only to do what’s best for you ahead of itself. To this end, Hoover doesn’t sell products or services but instead acts as a financial consultant to help you reach your financial goals and needs.

Long-Term Investment in You

This Pennsylvania financial advisory firm structures its services to gain your trust and become a long-term partner. Not only will this help you plan for your children’s educations, but it will also make your portfolio tax-efficient, plug holes in your cash flow, plan your investments, manage your risk, plan your estate, and ready you for retirement.

Likewise, should any of your goals change–as some of them are likely to do over time–your Pennsylvania financial planner will be prepared and ready to assist.

Hoover advisors don’t treat clients in a “set it and forget it” manner. They are ready to serve as guides through life changes. 

Individual Financial Plans

Hoover's Pennsylvania financial advisors consult with you on a complimentary basis for your initial meeting. During this time, they learn about your life, financial goals, and whether Hoover will be a good fit for your needs.

We appreciate that Hoover discloses its fees upfront when it designs your individual financial plan. Some of the things that your plan will address include:

  • Investments to help achieve your goals
  • Improvements to your cash flow
  • Strategies for dealing with income tax
  • Solutions to insurance needs
  • Retirement planning

Staying Atop an Ever-Changing Industry

The team at Hoover is made up of some of the most experienced and credentialed financial advisors in Pennsylvania. 

Some of these include, among others:

  • Certified Financial Planner (CFP®)
  • Certified Property Manager (CPM®)
  • Certified Investment Management Analyst (CIMA®)
  • Certified Public Accountant (CPA)
  • Juris Doctor (JD)
  • Master of Laws (LLM)

Range of Services Backed by Experience

As a team, Hoover has amassed more than 300 years of experience in the financial advisory industry. It has parlayed this knowledge and experience into a very broad range of financial planning services.

Some of these services include:

  • Wealth management
  • Estate planning
  • Cash flow management
  • Tax planning
  • Insurance planning
  • Investment management
  • Planning for retirement
  • Trusts

Team Approach

The team of Pennsylvania finanical advisors at Hoover work collectively to address your needs and any issues or gaps that might arise within your portfolio.

The Hoover team consists of a financial planner, an insurance specialist, an investment manager, and a Certified Public Accountant. Together, they work to refine your plan by providing you with a wealth of perspectives that you would not receive working with a single advisor.

Case Studies

To inspire confidence in its services and evidence a track record of success, the website features several case studies. These cases detail the struggles of real investors and how the advisors at Hoover helped them achieve their goals.

Some of the topics covered under these case studies include:

  • College funding
  • Retirement planning
  • Estate planning
  • Tax planning
  • Divorce and financial planning
  • Insurance planning

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Locust Capital Management, LLC Review


Locust Capital Management, LLC is a financial advisor in Philadelphia with offices in Bala Cynwyd, Buffalo, Carmel-By-The-Sea (CA), Doylestown, and Pittsburgh.

This wealth management firm in Philadelphia was founded in 2008 and is privately-owned today. As of the end of the 2015 calendar year, Locust counted a client roster in excess of 300 families. Total assets under management by the end of 2015 totaled more than $305 million.

The Philadephia financial advisors at Locust serve high net-worth individuals, families, emerging affluent individuals, entrepreneurs, business owners, and physicians.

Locust does not explicitly say that they are a fee-only firm, but they do explain that provide an objective investment approach, and that they are not compensated for the sale of any products.

Philadelphia, Pennsylvania Skyline

Image Source: Best Financial Advisors in Philadelphia

Key Factors That Enabled This Firm to Rank as a Top Philadelphia Financial Advisory Firm

Below are key factors that enabled Locust Capital Management, LLC to rank as a top wealth management firm in Philadelphia.

Fiduciary

Locust doesn’t own any additional products or services to sell you. Accordingly, commission cannot be made on any of its recommendations, a feature of the company’s role as a fiduciary.

Furthermore, all custodial and clearing services are delegated to outside institutions. This helps Locust further remain clear of potential conflicts of interest that could taint the advice its Philadelphia financial planners give you.

Open Door Policy

Locust Capital is always open to hearing from you. This is true whether you have just met with your Philadelphia financial advisor recently or haven’t spoken to them since your last quarterly meeting. It maintains an open door and open lines of communication, whether initiated by you or your advisor.

Needs-Based Financial Planning

Locust's financial planners in Philadelphia craft custom plans for each client that addresses his or her wealth management needs, tax efficiency, estate transfer, wealth transfer, and charitable giving needs, among others.

More than simply setting future goals and taking care of current needs, Locust helps you plan for a wide range of potential events that can affect your financial planning. This gives you a leg up at a time when such unplanned events might otherwise distress your savings or cash flow.

In the event that your Locust advisory team can't provide the expertise that you need for a given solution, it recommends an outside Philadelphia wealth management firm that can. It proceeds to work with this outside expert to maximize your portfolio.

Range of Services

This wealth management firm in Philadelphia offers a wide array of services tailored to specific individuals.

Some of its general services include:

  • Wealth management
  • Alternative investment opportunities
  • Insurance planning
  • Liquidity management
  • Philanthropic strategy
  • 401(k)/retirement services
  • Coordination with client’s estate attorney and CPA

As it concerns business owners, Locust provides the following:

  • Retirement planning
  • Succession planning
  • Education planning
  • Coordination with client’s team of advisors to maximize their financial goals, whether personal or business-related
  • Tax planning
  • Asset protection by way of insurance planning

For high-net-worth and emerging affluent clients, these financial advisors in Philadelphia can assist them with the following:

  • Investment management
  • Insurance planning
  • Trust and estate planning
  • Tax planning

Community Outreach

Not only is Locust committed to helping you preserve and grow your wealth, it wants to grow its community, too. It does this through regular and active participation in charitable giving and volunteerism.

Some of the charities Locust is affiliated with include:

  • Covenant House (for homeless youth)
  • St. Joe’s Preparatory School
  • Philadelphia Ronald McDonald House
  • The Jackson Laboratory
  • Carson Valley Children’s Aid

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RTD Financial Advisors, Inc. Review


RTD Financial Advisors, Inc. is a wealth management firm in Philadelphia with offices in Atlanta, GA; Bonita Springs, FL; Cherry Hill, NJ; West Chester, PA; Bala Cynwyd, PA; and Johnstown, PA.

RTD was founded by Roy T. Diliberto in 1983.

Key Factors That Enabled This Firm to Rank as a Top Wealth Management Firm in Philadelphia

Below are key factors that enabled RTD Financial Advisors, Inc. to rank as a top wealth management firm in Philadelphia.

Open, Transparent Fee Structure

RTD carries all the features that we look for in top financial advisors in Philadelphia. Namely, it is fiduciary, independent, and operates under an open, transparent payment structure. Additionally, it is certified by the Centre for Fiduciary Excellence (CEFEX).

And it’s that structure in particular that makes RTD unique. This Philadelphia financial advisory firm charges a flat retainer fee that is adjusted every three years. This stands in contrast to other financial advisors who earn a percentage of assets under management on a quarterly basis.

RTD uses this model for four primary reasons:

It reduces conflicts of interest.

Firms that operate on a percentage-based scale would see their bottom line decrease if a client chose to move money from their investments with that firm elsewhere (say, to pay off a mortgage or purchase a business).

RTD sees this as a conflict of interest: your money should work for you, not for them. That is why RTD implements a flat retainer fee based on a transparent scale.

It emphasizes holistic financial planning. 

By charging a flat retainer, RTD can ensure that all of its services are accounted for within your personalized financial plan.

Firms that charge a percentage of AUM do so regardless of whether or not you receive multifaceted wealth management advice. A flat fee gives you more bang for your buck.

It pays advisors for what they can control. 

Obviously, increases in the market cannot be controlled by advisors. However, it’s very common for financial advisors to benefit from market increases despite their inability to influence the market.

RTD feels that a percentage of AUM in these instances creates a conflict of interest in the advisor’s fee structure. Conversely, a flat-fee structure guarantees that you won’t face such conflicts with your RTD advisor.

It de-emphasizes risky asset allocation. 

Since RTD doesn’t earn more when your portfolio does well, it avoids the conflict of interest from excessively risky investments. It doesn’t stand to reap a windfall if the risky investments pay off.

To that end, it recommends investments that protect your wealth and grow it safely over the long-term.

Learning About You to Make Your Plan Personalized

RTD advisors strive to create a financial plan that addresses what they see as the three biggest areas of your life. These include:

  • Heart’s Core: your core values
  • Ought To: your responsibilities and commitments
  • Fun To: your goals and dreams

To map out a customized approach that addresses these concerns, your RTD advisor walks you through a three-step process of financial planning, which includes the following:

Discover:

True to its name, this stage involves your RTD advisor getting to know you. They learn who you are, what you want to do with your wealth, your goals for family, your business, and so on.

Considerations, such as cash flow, financial health, taxes, and insurance, among others, are included.

Plan:

After the Discover phase, your advisor builds your plan. Every possible consideration is included during the plan’s construction, all with an eye toward making your financial goals, both short- and long-term, a reality.

Live:

As simple as it sounds. Once you and your advisor agree on the specifics of your plan, it is finalized and implemented. You then get to experience life to its fullest. No worrying about whether you’re adequately preserving your wealth or on-track to meet your goals.

Expert Education

RTD has accrued an impressive list of designations. We like that RTD employs Philadelphia financial advisors that have such a breadth of knowledge on industry-related policy.

It helps RTD as a firm to provide you with deeper levels of service than you’ll find with many Philadelphia wealth management firms.

Some of these designations include:

  • Chartered Financial Consultant (ChFC)
  • Certified Financial Planner (CFP®)
  • Accredited Investment Fiduciary® (AIF®)
  • Global Financial Steward™ (GFS®)
  • Certified Public Accountant (CPA)
  • Accredited Investment Fiduciary Analyst™ (AIFA®)
  • Certified Divorce Financial Analyst™ (CDFA™)
  • Personal Financial Specialist (PFS)
  • Certified Pension Consultant (CPC)
  • Enrolled Retirement Plan Agent (ERPA)
  • Registered ParaplannerSM (RP®)
  • Chartered Advisor in Philanthropy® (CAP®)
  • Accredited Estate Planner® (AEP®)
  • Professional Plan Consultant™ (PPC™)
  • Chartered Retirement Plans SpecialistSM (CRPS®)
  • Master of Business Administration (MBA)

Comprehensive Financial Planning Services

RTD’s services can be divided up between its Primary Services and its Comprehensive Planning Services. Between the two categories, it can create better, more customized plans that address a wider range of client needs.

Its Primary Services are as follows:

Its comprehensive planning services, for both individuals and businesses, include specializations in:

  • Income tax
  • Retirement
  • Investment planning
  • Education planning
  • Cash flow planning
  • Estate planning
  • Special needs planning
  • Risk management
  • Insurance planning
  • Business, 401(k), and other retirement planning
  • Employee benefit planning
  • Philanthropy and charitable giving
  • Stock option planning

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Summit Financial Advisors, LLC Review


Summit Financial Advisors, LLC is a Pennsylvania financial planner located in Newtown.

They are a fee-only wealth management firm in Pennsylvania that is committed to organizing their clients' finances through independent advice.

Key Factors That Enabled This Firm to Rank as a Top Wealth Management Firm in Pennsylvania

Below are key factors that enabled Summit Financial Advisors, LLC to rank as a top wealth management firm in Pennsylvania.

Fee-Only

We like that Summit Financial Advisors charges under a fee-only payment structure. The firm does not make money by any other means except for the retainer or fixed fee that you agree to upfront.

This prohibits Summit from selling products or services or accepting commissions or incentives from outside companies. Its role as an independent, fiduciary Pennsylvania investment advisor means it will be 100% transparent with you and avoid all possible conflicts of interest as much as possible.

Summit charges a fixed fee in the event that you only want to hire the firm on an hourly basis. The fee amount is informed by the client’s goals and the extensive nature (or lack thereof) of their financial posture.

Long-Term Focus No Matter Where You Are in Life

Summit wants you to know that it is here for you no matter where you are in life. Whether you are coming to them as an affluent independent client, a business owner, or pre-retiree, Summit's team of Pennsylvania financial advisors will help you navigate each phase of financial planning.

Customized Approach

Summit offers a complimentary “get acquainted” meeting, with the goal of having a financial conversation to get to know their clients better. Location is no barrier either. Summit will meet with you at one of its office locations, at your home, or even at your place of business.

During this session, your Summit advisor asks a number of questions. They want to know it all: your goals, life situation, and experiences managing and investing your wealth, among other aspects of your life.

If you and your Pennsylvania financial advisor agree that Summit is a good fit for your needs, you’ll move on to the next stage of devising a customized financial plan.

Summit can tailor plans to cover only a select number of your goals if you so choose. Otherwise, their team of financial advisors in Pennsylvania can craft a plan toward your long-term needs.

These long-term needs may include saving for your child's education, insurance planning, estate planning, tax planning, and retirement planning, among many others.

This wealth management firm in Pennsylvania gives you the option of self-implementing the plan or helping you along the way. Summit will not, however, directly manage your assets.

Instead, their Pennsylvania financial planners can help set up your account at companies such as Fidelity and Vanguard. Additionally, it regularly reviews your investments and offers suggestions for improvement. No matter which route you choose, you maintain control.

Multiple Levels of Service

Summit understands that not every client desires the same level of interactive, hands-on attention from their financial advisors in Pennsylvania.

For instance, some investors want expert help with crafting a financial plan, but they’d rather implement the plan by themselves rather than entrust it to a Pennsylvania financial advisory firm.

Other clients not only want help designing a plan but feel they need additional assistance in monitoring it.

To address these concerns, as well as to provide a more customized experience for each client, Summit utilizes three levels of service.

These levels include:

Fixed Fee Financial Planning:

Summit designs your plan, and you put the plan into motion. You are wholly responsible for the oversight and care of your plan. Fees are calculated according to the breadth of planning required.

Retainer Financial Planning and Investment Consulting:

One step above the Fixed Fee Financial Planning service. The Retainer service produces a financial plan and then follows that up with assistance implementing your plan along with periodic reviews of your plan’s performance.

Retainer fees are quoted in advance and calculated according to the breadth of planning required.

Hourly consulting:

Should you need only a second opinion on your portfolio or consultation on a handful of issues, Summit can assist you on an hourly basis.

Within these three levels of service, Summit provides focused advice in the following areas:

  • Financial goal setting
  • Asset allocation
  • Retirement planning
  • Tax planning
  • Estate planning
  • Cash flow management
  • Education fund planning
  • Home/property buying
  • IRAs
  • Tax-deferred employee plans
  • Employee benefits


Wescott Financial Advisory Group, LLC Review


Wescott Financial Advisory Group, LLC is a wealth management firm in Philadelphia that prioritizes strategy and proactivity when it comes to creating financial plans for its clients. 

This Philadelphia wealth management firm is independent, SEC-registered, and operates on a fee-only basis. All of these factors allows clients to rest easy knowing the Philadelphia financial advisors serving them are concerned with putting their interests first. 

Key Factors That Enabled This Firm to Rank as a Top Wealth Management Firm in Pennsylvania

Below are key factors that enabled Wescott Financial Advisory Group to rank as a top wealth management firm in Philadelphia.

Tailor Made Planning for Individual Investors

Wescott provides tailor-made financial planning that takes a client's varied needs into consideration. This wealth management firm in Philadelphia selects portfolio managers on their ability to reap returns, remain cool-headed during market fluctuations, and take calculated risks. 

These Philadelphia financial planners also combine active management with passive management. This allows them to manage risk while also consistently outperforming benchmarks, a desirable goal for most individual investors. 

The financial planners in Philadelphia's Wescott Financial Advisory Group can help clients with both wealth management and portfolio management. 

Institutional Financial Planning

The Philadelphia financial advisors at Wescott also serve institutions who wish to grow, preserve, and manage their retirement funds, endowments, and pensions. 

Foundations/Endowments:

This wealth management firm in Philadelphia values philanthropy and community involvement. In this spirit, they offer financial planning to ensure the longevity of charitable organizations. They are committed to helping non-profit clients plan and invest for tomorrow and preserve the future of their missions. These Philadelphia financial advisors can help non-profits do the following things:

  • Enjoy a more organized, thoughtful process
  • Achieve desired diversification
  • Focus on new charitable endeavors once they've achieved the capability of funding them through strategic financial planning

Pension Funds and 401(k) Plans:

Wescott can help with the planning and management of specific investment plans and strategies. Their team of Philadelphia financial advisors can help clients in the following areas:

  • Select investment options and develop holistic investment portfolio models
  • Provide guidance and help clients understand their financial objectives
  • Organize workshops to educate fund participants on investing, portfolio model choices, annual performance calculations and more

Step-by-Step Financial Planning

Wescott offers step-by-step financial planning. These financial planner in Philadelphia prioritize building a relationship with their clients before an engagement letter is even signed. Clients are paired with one of their Philadelphia financial planners who become their "ally and partner" throughout the wealth management process.

With your financial advisor in Philadelphia, you will:

  • Collaborate
  • Conduct an in-depth analysis of your financial position
  • Review your sources of income
  • Track strategic investments
  • Plot a path of security so that you're protected

Quarterly Wealth Management Program Report

When you work with Wescott, you have a team of experts regularly analyzing your position against market conditions. To keep you informed, they provide a Quarterly Wealth Management Program Report. Just because you have delegated the task of managing your wealth to a wealth management firm in Philadelphia, doesn't mean you should not be kept informed of what is going on. Wescott understands this and uses this report to ensure you have all the information you need in addition to your regular touchpoints. 

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Related: Best Financial Advisors in Minneapolis, MN | Ranking | Minneapolis, Edina Area Wealth Managers


Conclusion – Top 7 Financial Advisory Firms in Philadelphia, Pennsylvania

If you live in Pennsylvania, you have a lot of excellent options when it comes to choosing a financial advisor in the Philadelphia area.

The majority of these Philadelphia wealth management firms operate under a fee-only system, saving you money and the annoyance of hidden costs.

And for those advisors that operate under other payment structures, they are transparent and upfront about what they charge. You always know ahead of time what you will pay.

More than that, each Philadelphia wealth management firm on our list is concerned with one thing and one thing only: helping you to achieve your financial dreams. They don’t earn revenue “off your back” by putting their own bottom line first.

Instead, these financial advisors in Philadelphia treat you as a partner, investing in your success at the same time that you’re investing in your future. They only succeed–or rather, make money–when you succeed and make money, too.

This diminishes or eliminates any conflict of interest that might make you otherwise hesitant to utilize the services of a Philadelphia wealth management firm. Doing so helps you feel more comfortable doing business with them, knowing a firm foundation of trust has already been laid down.

What’s more, nearly every financial planner in Philadelphia and surrounding areas that appears on our list offers an initial “get acquainted” meeting at no cost. It is mutually beneficial for both you and your prospective financial advisor to determine ahead of time whether you’ll work well together.

Even if you like everything you hear from a Philadelphia financial advisor, you’re under no obligation to sign a contract. In this way, these firms enable you to arm yourself with knowledge before you have to make a decision.

Why not get your future started today by making a phone call to one of these top financial advisors in and around Philadelphia? With most firms, the call is free, the first meeting is free, and you’re never obligated to sign up.

It can’t get much easier than that.



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AdvisoryHQ Disclaimer:

Reasonable efforts have been made to present accurate information, however all info is presented without warranty. Review AdvisoryHQ’s Terms for details. Also review each firm’s site for the most updated data, rates and info.

Note: Firms and products, including the one(s) reviewed above, may be our affiliates. Click to view our advertiser disclosures.