Retirement Planning » Financial Advisors » New York, NY

Financial Advisors New York, NY

Latest update: November 20, 2019

Population8,400,000
State Income Tax6.33%
Median Home Price$669,500
City Sales Tax8.00%

New York is the most densely populated city in the United States and is home to Times Square, Madison Square Garden and The Statue of Liberty.

Find a financial advisor in New York, NY

New York City is one of the largest financial hubs in the world. Over 27,500 financial advisors work in the city. We used all the essential criteria to bring you some of the best financial advisors in New York City. We considered customer reviews, certifications, SEC filings and asset requirements to create our list.

Magnus Financial Group LLC

  • Assets Managed: $1.17 billion
  • Minimum Assets: N/A

Magnus Financial Group provides personalized financial advisory services complemented by technology. This approach creates long-term financial stability for clients. Magnus serves a diverse group of clients and businesses. Services include financial and investment planning, risk management, tax planning, retirement and estate planning.

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Heron Wealth

  • Assets Managed: $314 million
  • Minimum Assets: Varies

Heron Wealth’s typical clients are executives, business owners, and rising professionals and their families. The firm provides wealth management services and counsels on major purchases, budgeting for future expenses and retirement planning. Investment managers balance with long-term returns while reducing exposure to taxes.

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Blue Spark Capital Advisors

  • Assets Managed: $116 million
  • Minimum Assets: $1 million

Blue Spark’s financial advisors consider all of the client’s needs as a whole to create a financial plan. The firm provides investment management and holistic financial planning that looks past emotions to a disciplined and diversified approach. Blue Spark Capital Advisors guides clients through investing to meet personal goals while balancing risk and return.

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Frisch Financial Group

  • Assets Managed: $409 million
  • Minimum Assets: $1 million

Frisch Financial specializes in investment management and provides financial advisory services. The firm breaks financial planning down into quarterly sections to ease the time commitment for clients. Frisch Financial Group serves a select client base with complex financial situations and families needing to manage multigenerational wealth.

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Clarfeld Citizens Private Wealth

  • Assets Managed: $6.45 billion
  • Minimum Assets: $3 million

Clarfeld’s innovative financial advisory services are designed for the complex needs of high-net-worth individuals, families and foundations. The firm is an award-winning leader in wealth management with multifamily office services. Clarfeld Financial Advisors joined Citizens Bank in January 2019. This partnership adds banking, lending and mortgages to an already broad array of high-end financial solutions.

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Tiedemann Advisors

  • Assets Managed: $13.9 billion
  • Minimum Assets: Varies

Tiedemann Advisors is among the largest independent investment and wealth advisors. The firm works with high-net-worth individuals, families, trusts, foundations and endowments in nine U.S. locations. Tiedemann Advisors is partner-owned with in-depth expertise in financial planning, investment management, trust and estate services, and impact investing.

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Pinnacle Associates Ltd.

  • Assets Managed: $5.3 billion
  • Minimum Assets: $1 million

Several senior investment principals own New York City's Pinnacle Associates. The firm operates as an independent investment advisor working primarily with high-net-worth individuals, endowment, corporations and other entities. Pinnacle Associates Ltd. offers a full range of services with action-oriented, objective investment advice.

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Magnus Financial Group LLC

Magnus Financial Group’s Think Tank is composed of the investment and financial planning teams working together. Members of the Think Tank provide ongoing portfolio monitoring and research and analyze potential investments. This specialized team helps financial advisors at Magnus make sound investment decisions for a diverse range of clients.

The Think Tank optimizes investment portfolios, adjusts asset allocations and conducts annual tax-loss harvesting. Magnus Financial Group protects clients by evaluating risk management strategies and recommending life insurance, disability insurance and long-term care insurance.

Magnus tailors financial and investment advisory services to each client. Advisors stay in touch with clients regularly regarding changes in risk tolerances, future expectations, cash needs and other factors. Clients are welcome to impose some restrictions on investments, such as environmentally-friendly stocks.

Magnus Financial Group charges an annual fee based on the percentage of assets managed. Financial planning is usually included with investment advisory services. The firm charges $150 to $1,000 per hour for ad hoc and project-based consultations.

Magnus Financial Group LLC
Assets Managed $1.17 Billion
Minimum Assets N/A
Number of Advisors 11
Fee Structure Fee-Based
Address 280 Park Avenue 25th Floor West

Heron Wealth

Heron Wealth in New York City is a wealth advisory providing financial, investment, tax and estate planning services. The firm’s clients live in the U.S., Europe and Latin America. Heron Wealth’s goal is to simplify and clarify the client’s path to financial independence.

Heron Wealth provides clients with an online financial app and planning dashboard. The app displays information about income, investments, bank accounts, credit cards, mortgages and more with up-to-date numbers. If something changes in life, the client can see the future impact after talking to their advisor.

Registered investment advisors at the firm only invest in liquid assets like stocks, bonds, mutual funds and exchange-traded funds (ETFs). This policy is in place so clients can have access to their funds within 24 to 72 hours. The firm also does tax and estate planning for maintaining and increasing wealth while limiting income taxes.

Those who want to work with a financial advisor without investments pay $250 per hour. Wealth management account minimums vary by age with no minimum for age 35 and younger. Older individuals are subject to a $250,000 to $1 million minimum account. Wealth management services include financial planning.

Heron Wealth
Assets Managed $314 Million
Minimum Assets Varies
Number of Advisors 4
Fee Structure Fee-Only
Address 541 North Fairbanks Ct Suite 1060

Blue Spark Capital Advisors

Financial planning at Blue Spark Capital Advisors includes the selection, allocation and investment classes chosen for each client. Investment management services include a detailed financial plan. The plan consists of advice for cash flow, retirement savings, retirement planning, college funding, real estate, risk management and estate planning. Advisors cover any other topics at the client’s request.

Blue Spark financial advisors do not provide stand-alone financial advisory services. Advisors can address individual client concerns related to divorce, losing a spouse, preparing for retirement, apprehension about investing and more. If it has to do with money, Blue Spark provides counseling, guidance and resources, like a financial concierge.

Blue Spark Capital Advisors investment professionals use a holistic, low-cost and diversified approach to creating portfolios. Advisors match cash flow needs to the types of securities recommended. Investments are usually a combination of low-cost ETFs with a select group of mutual funds.

Clients pay a percentage of assets managed to receive Blue Spark’s services. Fees are tiered from 0.5% to 1.25% and reduce as assets grow.

Blue Spark Capital Advisors
Assets Managed $116 Million
Minimum Assets $1 Million
Number of Advisors 2
Fee Structure Fee-Based
Address 130 West 19th Str 8th Floor

Frisch Financial Group

Frisch Financial works with clients to help them understand financial goals, reduce risk and manage through market fluctuations. Frisch Financial’s financial planning services are designed to respect the client’s time by delivering the plan in quarterly portions. Advisors address the most pressing concerns right away, then discuss a specific economic category each quarter after that.

Frisch financial advisors specialize in working with senior executives who have complex compensation packages and families with multigenerational wealth. The firm also works with small family business owners. The firm offers customized portfolios to meet the criteria of conscientious Environmental, Social and Governance (ESG) investors. Investment advisors choose ESG investments to achieve a competitive risk-adjusted return and a positive impact in the world.

Frisch Financial Group investment advisors develop a portfolio in partnership with the client. Those who want to learn about investing and finance can participate in making investment decisions. Those who prefer the experts to take over managing their portfolio receive an explanation of the recommended investment strategy. A team of five advisors oversees managing portfolios, drawing information from one another, so no stone goes unturned in finding investments.

Frisch Financial’s planning and consulting fees range from $3,000 to $10,000 per project or $200 to $600 per hour. The cost depends on the complexity of the client’s financial picture. The payment for investment advisory services is based on a percentage of total managed assets with a minimum of $2,500 quarterly.

Frisch Financial Group
Assets Managed $409 Million
Minimum Assets $1 Million
Number of Advisors 5
Fee Structure Fee-Based
Address 445 Broad Hollow Rd Suite 215

Clarfeld Citizens Private Wealth

Clarfeld Citizens Private Wealth caters to the evolving wealth management needs of affluent individuals and families. Clarfeld Citizens’ financial advisory services provide guidance across all financial areas, such as evaluating present cash flow needs, retirement planning and minimizing taxes. Clarfeld Citizens also offers estate and trust planning, insurance assessments and handles everyday financial tasks like paying bills for busy clients.

Clarfeld Citizens Private Wealth’s proprietary LifeSlate process analyzes and reviews family documents. These files have accumulated over the years and organizing the information can be overwhelming. LifeSlate can label, organize, scan and upload important documents to an encrypted online vault. This unique solution eliminates the time-consuming problem of what records to keep and what to shred.

Along with designing a diversified portfolio, investment managers at Clarfeld Citizens take care to preserve the client’s capital. Portfolio management includes strategies to take advantage of market shifts to provide a higher long-term return. The firm’s Divorce Planning and Support assists clients through a difficult period. This program provides financial education and helps to navigate the complexities of a divorce.

Clarfeld Citizens Private Wealth clients have access to all services at the firm. The cost of the services is based on a percentage of the market value and asset types under management.

Clarfeld Citizens Private Wealth
Assets Managed $6.45 Billion
Minimum Assets $3 Million
Number of Advisors 40
Fee Structure Fee-Based
Address 1185 Avenue of the Americas 3rd Floor

Tiedemann Advisors

As a boutique investment firm, Tiedemann Advisors provides specialized services for specific types of clients. Tiedemann’s financial and investment advisors offer customized wealth planning, investment management, socially-conscientious investing, financial education and trust and estate services.

Clients have access to all services with no additional fee. Tiedemann Advisors offers clients tax experts, attorneys, trust specials and accountants on a team with investment professionals. The firm retains the same partners year after year to provide clients with financial advisors who know their needs. Financial plans are carefully tracked and vetted by legal and financial professionals.

Tiedemann Advisors offers ongoing assistance with financial, wealth and investment management services. Clients work with specialists in estate planning, charitable giving, insurance, wealth and business succession and taxes. The firm also works with endowments and foundations with a low client-to-advisor ratio and a knowledgeable investment team.

Tiedemann typically works with individuals holding $1 million or more in assets. The minimum account requirement depends on the investment funds the client chooses. Fees vary a great deal and are based on a percent of managed assets and the level of individualized service. Advisors may charge a flat or minimum fee each quarter at their discretion.

Tiedemann Advisors
Assets Managed $13.9 Billion
Minimum Assets Varies
Number of Advisors 80
Fee Structure Fee-Based
Address 520 Madison Avenue 26th Floor

Pinnacle Associates Ltd.

Employee-owned Pinnacle Associates Ltd. is an Independent Registered Investment Advisor in business since 1984. The firm works with high-net-worth individuals and provides institutional investment management services.

Pinnacle is primarily an investment management firm but can provide financial planning to investment clients. Financial plans are goals-based and included in investment management fees. Pinnacle Associates financial advisors may recommend attorneys, accountants and insurance agents to provide services outside the firm’s specialty.

Personalized investment advisory services start with determining the client’s objectives for time horizon, liquidity needs and risk tolerance. Pinnacle Associates’ investment managers also consider the client’s current portfolio and individual circumstances. Clients receive a recommendation for asset allocation over traditional asset classes with an investment strategy. Investment managers monitor and adjust the portfolio to respond to market changes on behalf of the client.

Pinnacle Associates fees for services are based on a percentage of annual managed assets, prorated quarterly.

Pinnacle Associates Ltd.
Assets Managed $5.3 Billion
Minimum Assets $1 Million
Number of Advisors 27
Fee Structure Fee-Based
Address 335 Madison Avenue 11th Floor

Conclusion

When searching for a financial advisor it is important to do your research. We suggest speaking with at least three advisors to ensure you are selecting an advisor that meets your needs.

We researched the best advisors in New York, NY with options for all financail situations and compiled our list to include all the criteria crucial when making a decision.

New York Financial Advisors
Company Assets Managed Minimum Assets Fee Structure
Magnus Financial Group LLC $1.17 Billion N/A Fee-Based
Heron Wealth $314 Million Varies Fee-Only
Blue Spark Capital Advisors $116 Million $1 Million Fee-Based
Frisch Financial Group $409 Million $1 Million Fee-Based
Clarfeld Citizens Private Wealth $6.45 Billion $3 Million Fee-Based
Tiedemann Advisors $13.9 Billion Varies Fee-Based
Pinnacle Associates Ltd. $5.3 Billion $1 Million Fee-Based

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