Richmond, Virginia, one of the oldest and most historic cities in the entire country, has many facets. The city also has a vast landscape of options when it comes to managing your money.
It’s this same vast landscape that can be intimidating when deciding which advisor to choose for your life savings and wealth. After hours of extensive research, Benzinga has nailed down the top financial advisors in the area.
Best Financial Advisors in Richmond Near You:
- Best for Goals-Based Planning: Wealthcare Capital Management
- Best Robo-Advisor: M1 Finance
- Best for Portfolio Management: Stony Point Wealth Management
- Best for Legacy Planning: Salomon & Ludwin
- Best Portfolio Analysis: Personal Capital
- Best for Customized Financial Planning: Campbell Deegan Financial
- Best for Finding Custom Financial Advisors: SmartAsset
- Best for Client Service: Godsey & Gibb Wealth Management
Best for Goals-Based Planning: Wealthcare Capital Management
Wealthcare Capital Management is a goals-based financial advisor in Richmond offering a unique and comprehensive, online experience. The company’s main product is its GDX360 wealth management platform, which helps connect advisors and financial planners with clients from the comfort of their homes or offices.
The GDX360 platform synchronizes financial planning, retirement planning and asset management services. You can track your progress toward your unique financial goals and communicate with your advisor of choice online. The GDX360 platform offers full fiduciary compliance, which means that you can rest assured that you’re receiving only unbiased financial advice from qualified professionals.
Wealthcare Capital Management is a goals-based financial advisor in Richmond offering a unique, comprehensive online experience. The company’s main product is its GDX360 wealth management platform, which helps connect advisors and financial planners with clients from the comfort of their homes or offices. The GDX360 platform synchronizes financial planning, retirement planning and asset management services. You can track your progress towards your unique financial goals and communicate with your advisor of choice online. The GDX360 platform offers full fiduciary compliance, which means that you can rest assured that you’re receiving only unbiased financial advice from qualified professionals. If you’re looking for a more modern financial planning solution, Wealthcare might be right for you.
- A percentage of assets under your management
- Hourly charges
- Fixed fees (other than subscription fees)
- Financial planning services
- Pension consulting services
- Selection of other advisers (including private fund managers)
Address
2 JAMES CENTER 1021 EAST CARY STREET, #1120RICHMOND VA, 23219
Phone number
804-644-4711
- Customizable Auto Investing
Best Robo-Advisor: M1 Finance
Need a robust platform to handle your money? M1 Finance helps you make, save and invest seamlessly. Best part? You can build your investment portfolio for free.
M1 gives you the freedom to schedule weekly, biweekly or even monthly deposits so you can make sure that you’re consistently investing. When your portfolio value reaches $10,000, you can access a flexible portfolio line of credit and use it for anything you want.
M1 offers you 2 accounts — M1 Basic and M1 Plus accounts.
With the Basic M1 account, you can invest for free and there is a 0% checking annual percentage yield (APY). You can borrow funds at a 3.5% base rate.
The M1 Plus account is an upgrade. There is no minimum balance required but it does cost $125 annually. On this account, there is a 1% checking APY and you can earn 1% cash back on qualifying debit card purchases. You can borrow funds at a 2% base rate so getting loans is much cheaper than the M1 Basic account.
Best for Portfolio Management: Stony Point Wealth Management
Stony Point Wealth Management is a financial advisor offering both financial planning services and hands-on investment management services. Stony Point primarily works with private clients, families and businesses. The minimum account balance required to get started with its team is $150,000 for most services.
The modern portfolio theory has long stated that the best way to control risk and minimize your losses is to invest in multiple sectors and companies. Stony Point adds an additional layer of diversification by investing in a variety of sectors in some of the largest economies around the globe. This international investment strategy makes Stony Point one of the best financial advisors when it comes to thorough diversification.
Stony Point Wealth Management is a financial advisor offering both financial planning services and hands-on investment management services. Stony Point works with individuals, high net-worth individuals and corporations. The minimum account balance required to get started with their team is $150,000 for most services. Stony Point’s investment philosophy focuses primarily on global diversification. The modern portfolio theory has long stated that the best way to control risk and minimize your losses is to invest in multiple sectors and companies. Stony Point adds an additional layer of diversification by investing in a variety of sectors in some of the largest economies around the globe. This international investment strategy makes Stony Point one of the best financial advisors when it comes to thorough diversity.
- A percentage of assets under your management
- Hourly charges
- Fixed fees (other than subscription fees)
- Financial planning services
- Pension consulting services
Address
9020 STONY POINT PARKWAY SUITE 360RICHMOND VA, 23235
Phone number
(804) 332-6574
Best for Legacy Planning: Salomon & Ludwin
Salomon & Ludwin is a registered financial advisor that focuses on end-of-life and legacy planning. The team at Salomon & Ludwin understands that for many older men and women reaching retirement age, fulfilling their own basic needs isn’t enough — most people also want to continue to grow their investments through retirement to leave an inheritance behind for their heirs.
In addition to investment management, Salomon & Ludwin also offer a number of other legacy planning services. From attorney coordination to finalizing a will to healthcare decisions and dividing assets, Salomon & Ludwin is one of the top financial planners for investors looking to leave a legacy for generations to come.
Salomon and Ludwin is a registered financial advisor that focuses on end-of-life and legacy planning. The team at Salomon and Ludwin understands that for many older men and women reaching retirement age, fulfilling their own basic needs isn’t enough — most people also want to continue to grow their investments through retirement to leave an inheritance behind for their heirs. In addition to investment management, Salomon and Ludwin also offers a number of other legacy planning services. From attorney coordination to finalize a will to healthcare decisions and dividing assets, Salomon and Ludwin is one of the top financial planners for investors looking to leave a legacy for generations to come.
- A percentage of assets under your management
- Hourly charges
- Commissions
- Selection of other advisers (including private fund managers)
- Educational seminars/workshops
Address
1401 GASKINS ROAD RICHMOND VA, 23238
Phone number
804-363-8598
- High Net Worth Individuals
Best Portfolio Analysis: Personal Capital
Personal Capital allows you to get a 360-degree view of your money. Available on Apple’s App Store and Google Play, Personal Capital helps you create a budget, plan for retirement and even track your investments with your dashboard.
Personal Capital’s portfolio tool helps you compare your current portfolio allocations with expert allocations to improve your strategy. You can also have an advisory team to manage your portfolio. To use this service, you need an account minimum balance of $100,000. If you want dedicated advice and specialist support, you require at least $200,000 as a minimum balance.
Best for Customized Financial Planning: Campbell Deegan Financial
Campbell Deegan Financial is a fully independent fiduciary and registered investment advisory firm based in Richmond. The firm does not believe in a cookie-cutter approach to managing your money. It offers a lot of personalization whether it’s planning for retirement, paying for college, minimizing taxes and more.
The firm takes a lot of time to customize a financial plan and investment strategy to achieve your financial goals. There’s no minimum required balance to get started with any of Campbell Deegan’s services and the company’s team imposes no minimum annual fees.
Campbell Deegan is a wealth management and advising service offering financial planning, estate planning, asset management and tax consideration services. There’s no minimum required balance to get started with any of Campbell Deegan’s services, and the company’s team imposes no minimum annual fees. One of the features that make Campbell Deegan unique is the company’s focus on cybersecurity and keeping up with cybercrime trends. The advisory uses a series of ongoing testing measures and preventive maintenance to resist hacking attempts and keep your money safer. Though cybersecurity breaches are rare, they may negatively impact your savings. If you’re looking for a firm with a special focus on cybersecurity, consider Campbell Deegan.
- A percentage of assets under your management
- Fixed fees (other than subscription fees)
- Financial planning services
- Pension consulting services
Address
8730 STONY POINT PARKWAY SUITE 100RICHMOND VA, 23235
Phone number
804-913-1114
- Comparing Advisors
Best for Finding Custom Financial Advisors: SmartAsset
Find the right financial advisor to prepare for your future. SmartAsset's platform connects investors, soon-to-be retirees and retirees with financial advisors from across the country.
As the first comprehensive solution for easily and securely pairing investors with financial advisors, SmartAsset provides you with free and secure access to the financial advisor marketplace and sources advisors that are right specifically for you based on your location, assets and personal preferences.
Answer a brief survey regarding your preparedness for retirement, investment style and contact information so SmartAsset’s algorithm can match you with the best financial advisor for you.
Best for Client Service: Godsey & Gibb Wealth Management
Godsey & Gibb is a wealth management company providing asset allocation, portfolio management and general financial planning services. The company’s investment philosophy centers on frequent in-person communication with clients. The firm provides quarterly meetings with each of its clients, allowing you to track your investing progress and ensure that your portfolio manager is carrying out your directions appropriately.
You may receive service at any Godsey & Gibb locations throughout Richmond, as well as Greenville and Columbia, South Carolina, and Jacksonville, Florida. You will also receive a written quarterly statement detailing your manager’s outlook on next year’s investments. If you’re looking for a high degree of personal service from your investment advisor, Godsey & Gibb might be the top financial advisor for you.
Godsey and Gibbs is a wealth management company providing asset allocation, portfolio management and general financial planning services. The company’s investment philosophy centers on frequent in-person communication with clients. The firm provides quarterly meetings with each of its clients, allowing you to track your investing progress and ensure that your portfolio manager is carrying out your directions appropriately. You may receive service at any one of Godsey and Gibb’s locations throughout Virginia, South Carolina and Florida, and you’ll also receive a written quarterly statement detailing your manager’s outlook on next year’s investments. If you’re looking for a high degree of personal service from your investment advisor, Godsey and Gibb might be the top financial advisors for you.
- A percentage of assets under your management
- Other
- Financial planning services
- Educational seminars/workshops
Address
6806 PARAGON PL, STE 230 RICHMOND VA, 23230
Phone number
804-285-7333
Frequently Asked Questions
Which certifications should my financial planner have?
There are many certifications that can qualify you as a financial planner but the cream of the crop include the chartered financial analyst (CFA) and certified financial planner (CFP®) certifications.
How can I research the background of my financial advisor?
The Investment Advisor Public Disclosure website is a complete compilation of the financial advisors registered with FINRA or the Securities and Exchange Commission (SEC). You can enter the name of the firm and find all the details you need to know.
Can financial advisors help debt?
Yes, financial advisors are experts at helping you bounce back from debt. Once you disclose your relevant financial documents, they will create a plan that could involve a change in your budgeting, investments and tax planning so that you can accelerate your way out of debt.
Choose the Right Financial Advisor in Richmond
Good financial advisors can help you manage your portfolio, debt, retirement and much more. Ensure that the financial advisor you choose is a fiduciary so that you know they put your interests as the priority — and not work on commission. Ask for recommendations from friends and family so that you hire someone you can trust.
Methodology
To determine the top financial advisors in Richmond, Virginia, we pored through all SEC-registered advisory firms who have an office in Richmond. To winnow down the list we only included advisors who were registered fiduciaries, had no past disclosures and have minimal personal conflicts of interest. To further break down the list to the true top advisors in the area, we gave weight to advisors that offer both investment management and planning, have no conflicts of interest, have offices in multiple states, have a wrap fee program and over $50 million in assets under management.