Expert financial consulting may be needed by individuals and business companies. For businesses, it is an opportunity to receive professional assistance on financial issues without the need to keep the relevant specialists on staff. For wealthy people, financial consulting solves the problem of increasing capital without the need to obtain an academic education in economics, finance, and law.

Services Provided by Financial Advising Firms

Knowledge of finance alone is not enough to successfully manage a company or make private investments.

1. Even focusing on the local market, you must have a good understanding of laws and multiple regulations and follow the economic, political, and even technological agendas.
2. Global business or investments place even more demands on an investor or business person. They need to understand the socio-cultural context of each country whose market they are entering, their laws and political agenda, etc. As recent in-depth qualitative interviews of investors show, when choosing investment projects, they consider profit, cultural factors, social norms, and even sustainability issues.

Therefore, modern financial advising firms offer comprehensive services. Their task is to ensure that the client receives support on all issues without the need to look for additional experts. Here are just some of the questions with which clients most often turn to such companies:

• Building a diversified investment portfolio;
• Estate planning;
• Stock management;
• Property acquisition;
• Developing a plan to overcome a debt crisis;
• Developing business plans;
• Business reorganization;
• Positioning a company in a competitive market and much more.

Target Audience of Financial Advising Firms

Of course, each company has its area of expertise. It depends on the composition of specialists, their experience, approach, target audience, etc. For example, Certuity Company has solid experience developing a dynamic wealth management strategy. It focuses on different clients, including:

• Wealthy individuals;
• Professional investors;
• Entrepreneurs;
• Family offices;
• Businessmen, etc.

Other financial advising firms choose people with average incomes as their target group. They assist them in improving their standard of living with the help of reasonable investment decisions, optimization of tax payments, etc.

The Best Financial Advising Firms for Clients with Different Income Levels

Choosing an advising company for your financial needs is rather challenging due to the abundance of offers in the consulting services market. This niche is competitive since the market offers companies of different types.

• Some were created as independent companies by groups of professionals in finance, law, economics, etc.
• Others became side products of various large companies and funds, such as insurance companies, hedge funds, etc.
• In addition, fraudulent companies also regularly enter the market to attract naive and inexperienced clients.

Therefore, when choosing a consulting services provider, reputation is one of the primary factors to consider. Here are some financial advising firms that are regularly included in the lists of the best advisors according to Forbes, Barron's, and other authoritative editions.

Certuity Company

Certuity offers a wide range of services for those who need capital management, investment strategy development, tax payment optimization, etc. Besides being a financial advisory firm, Certuity is one of the leading multi-family offices that manage the assets of ultra high net worth families.

The company and its leading advisors are regularly included in the top RIA firms or financial consultants. Certuity was among the best Registered Investment Advisors (RIA) according to Forbes in 2023. Its financial advisors have been included in the list of Top Financial Advisors according to Barron's for 10 years.

Facet

Facet is a financial advisory company that any individual can turn to. The company does not require investment minimums and is ready to help any client with their financial issues. In addition, the company provides advice on family planning, education, career, etc. Payment for services is made on the principle of flat-fee memberships and varies from $2,000 to $8,000 per year. For each client request, the company’s planner offers several actionable plans. After the client has made a choice, they receive the roadmap and a sequence of steps to achieve their goal.

Edward Jones

Edward Jones is one of the largest financial advisory firms. It has representative offices in all US states. They employ nearly 19,000 financial advisors helping clients who have at least $5,000 in investable assets. The more assets you offer for management, the smaller the percentage will be charged as fees. Basic fees start at 1.35% of managed assets, but the highest level of this tiered system reaches only 0.09% of your assets.

The Bottom Line

Financial advising firms provide access to highly qualified financial specialists with extensive consulting experience. However, when making your choice, consider those companies that focus on clients with your level of wealth. If you have millions of dollars, consultants working with small investment assets are unlikely to give you useful advice. And vice versa, if the size of your investments is small, you should not contact a company where only the fee for consultations will make up a significant part of your assets. An experienced consultant will very quickly see what is hindering your financial growth and will help you reach a new level of wealth.