Are you in search of professional financial advisors in Lakewood? There are many people in Colorado who keep on searching terms like “best wealth advisors near me” on Google and it’s quite understandable why they do so.
Hiring a financial advisor for managing your wealth is a major decision. You are trusting a person or a firm with your money and you’ll never want to make the wrong choice.
But, how can you make sure that you are trusting the right person with your assets? How to choose the right fee structure when hiring a financial advisor and how will it affect your retirement plan or savings in the future?
Why Do You Need Financial Advice?
There are a lot of options when it comes to growing your wealth and investing your money. No matter if you are making a career transition or looking for a safe retirement plan, it’s important to have a strong financial plan to do so.
A lot of people like to follow a safer path in life. That’s why they seek the advice of Lakewood financial planners. Getting the right advice enables them to smoothly navigate through sudden life changes like marriage, the birth of a child, divorce, career transition, quitting a job, or starting a new business.
Remember, every stage of your life demands a different approach to saving, investing, and planning your wealth. It all revolves around your circumstances.
For example, if a person starts investing money at the age of 21, his/her mindset and approach toward investment will be far different than a person who starts doing so at the age of 65.
It cannot be denied that there are a lot of factors involved when it comes to investing money. Some of them are your investment approach, the strength of your investment portfolio, and your current income. However, above all these factors, the chances of the success or failure of your financial plan majorly depend on the financial planner you choose.
Parallel to that, in the long run, your financial strength also depends on the economic health of your country, the political climate, and how your financial advisor helps you manage the ups and downs of the market.
How Can You Accomplish Financial Planning
You can do financial planning in a lot of different ways but the two popular ones are:
1. Signing up with an online do-it-yourself investment company
When you choose an online do-it-yourself firm, you will manage all the stuff without any human advice. This option is cost-effective because there’s no human involved in the process while you are doing research or making transactions for investment purposes.
2. Hiring a financial advisor
Just like Lakewood CPA, hiring your own wealth manager or financial planner comes with higher costs but with productive results.
According to financial analysts, when you work with a financial planner, you can expect 2% to 4% higher results as compared to when you are doing it all alone.
Payment Structures of Lakewood Financial Advisors
Yes, we cannot deny that hiring a financial advisor for wealth management to get better returns comes at a higher cost. But, before taking this step, you need to analyze if it will be beneficial for you or not.
To know this better, you should have an understanding of how Lakewood financial advisors make money. It will help you analyze how they work to make you money.
The most commonly available payment structures when hiring financial advisors in Lakewood are:
- Hourly: The investor is charged for time use on his behalf, regardless of assets.
- Retainer: A scheduled fee (usually monthly or annual) makes the Financial Advisor available, on-call for the advisory services the retainer covers.
- Flat fees: A set price for financial planning and asset management services. The fees have nothing to do with the amount of the investor’s account, big or small. It’s like ordering off a menu of services.
- Commission: The financial advisor receives a percentage of the money spent buying high-performing investments, usually charged per transaction.
- Asset management: The investor is charged a fee based on how much money is invested and fees usually are paid directly from the investor’s account.
Which Payment Structure is Best?
Beware that choosing the wrong payment structure that does not go with your needs can lead to a conflict of interest.
Let’s understand this with an example. If a financial advisor charges an hourly fee and is less interested in helping you make more money, he/she is more likely to spend time on another account.
Parallel to that, if financial advisors in Lakewood get a flat fee per transaction, they can transfer money unnecessarily.
Thus, in our view, going with the commission-based fee structure can generate better results. In this payment plan, a financial advisor takes a portion of the growth of your investment.
How to Choose the Right Financial Advisor in Lakewood
Do you want to identify that the financial advisors in Lakewood are not forcing you to make investments that suit their interests more than yours?
You can do this by asking a simple question from your potential financial planner, “Do you have a fiduciary responsibility to my investments?”
If you get a”yes”, that means the financial planner is licensed. He/she will be bound by strict regulations and ethics to take actions that go in your best interest even if they do not get any benefit from it.
On the other side, if a financial planner is not fiduciary, he/she could direct you to a riskier path. But, this path can also end up with a higher payoff. You never know.
That’s why it’s hard to give a definite answer to which payment structure is best. It completely depends on your situation. Maybe you can try both options and then decide which one works best for you.
Want to go with the safer side? Have a meeting with your potential financial planner and get to know him/her before making a final decision. Analyze the financial plan they have created for you. If it supports the results you want to achieve and you feel comfortable about it, you can give a chance to that financial planner.
10 Best Financial Advisors in Lakewood
Here is a list of the top 10 best financial advisors in Lakewood. The list is prepared after thorough research to help you save time. The companies below are selected based on their ratings, reviews, experience, and services. Here they are:
1. Summit Wealth Group
Summit Wealth Group is an independent financial advisory firm that serves a wide and varied range of clients, including individuals looking for financial security, business owners, professionals, corporate executives, and private practitioners. The firm helps its clients by systematically, logically, and reasonably implementing the financial plan.
The team at Summit Wealth Group includes financial professionals who provide independent opinions, trusted advice, and customized managed portfolios. The firm was founded in 2009 and has extensive industry experience. It presents proactive, actionable, and trusted financial advice to its clients, assisting them in protecting and growing their wealth and making financial decisions.
As a fiduciary firm, it works in its client’s best interests and believes in legal responsibility when managing its assets. Summit Wealth Group holds financial advisors, financial planning professionals, and tax and accounting professionals who collaborate to provide comprehensive financial planning and wealth management.
Summit Wealth Group
141 Union Blvd., Suite 270,
Lakewood, CO 80228
2. Financial Security Management, Inc.
Financial Security Management, Inc. is a Securities and Exchange Commission (SEC)-registered investment advisory and financial planning firm. It has been serving individuals and businesses for over 25 years and providing multidisciplinary financial services such as real estate, tax preparation, and consulting. The firm creates, implements, and monitors customized financial plans to assist its clients in achieving their specific goals and objectives.
Since its inception in 1995, Financial Security Management, Inc. has always treated the interests of clients as its own, striving to achieve the best financial outcome. The firm has a team with professional knowledge and sufficient resources to help its clients with their financial needs.
Financial Security Management, Inc. is fiduciary and recognizes its responsibility to be honest, show transparency, put its client’s interests first, and has policies to avoid potential conflict of interest.
Financial Security Management, Inc.
2535 South Lewis Way, Suite 101 & 201
Lakewood, CO 80227, USA
Phone: (303) 988-1411
3. JH Advisers, Inc.
JH Advisers, Inc. is a certified financial planning and investment advisory firm that serves entrepreneurs and retirees. It provides comprehensive and coordinated financial planning, holistic investment management, and strategies for retirement income.
JH Advisers, Inc. provides financial clarity and solutions tailored to the client’s priorities and objectives. It helps clients develop, maintain, and evolve their financial plans by integrating a coordinated set of financial planning considerations. The team includes a registered investment advisor and independent custodian investment managers to provide clients with lifetime income planning and investment management.
Being a fiduciary firm, JH Advisers, Inc. maintains a high standard and always acts in the best interests of clients. The firm is relentlessly responsible for maintaining transparency, commitment, proactivity, accountability, and a positive relationship with clients at all times. It provides clients free access to cutting-edge software tools that help them use their wealth wisely.
JH Advisers, Inc.
550 S. Wadsworth Blvd – Suite 401
Lakewood, CO 80226
4. Hinds Financial Group
Hinds Financial Group is a financial planning-driven investment advisory firm that serves individuals seeking a high level of service regarding their financial goals. The firm has extensive experience working with individuals trying to achieve financial goals, health professionals, lawyers, business owners, and corporate executives. It has also been actively involved with the American Academy of Orthopedic Surgeons (AAOS) for over 20 years.
Investment analysis and management, retirement and insurance planning, philanthropic planning, and estate planning are all services provided by Hinds Financial Group. The firm actively monitors client portfolios to ensure they remain on track in pursuing their goals through diligent research and a comprehensive understanding of the market.
Hinds Financial Group makes every effort to comply with the laws and regulations that govern its practices. Its primary goal as a fiduciary firm is to protect clients’ interests and demonstrate dedication to its fiduciary duties of integrity, transparency, and faithfulness.
Hinds Financial Group
141 Union Boulevard, Suite 350
Lakewood, Colorado 80228
Phone: (303) 985-9889
5. Personal Benefit Financial
Personal Benefit Financial is a registered financial planning firm providing Investment advisory services. The firm offers financial products and services to individuals, couples, families, and business owners. Its personalized coaching can assist clients in developing the skills necessary to identify and prioritize their goals to progress toward making them a reality.
Having 45 years of experience, the firm has built strong relationships with several financial services companies. Personal Benefit Financial takes pride in offering high-quality, all-inclusive financial services, as well as wealth management and goal-oriented financial coaching.
As a fiduciary firm, Personal Benefit Financial is CFP® certified financial planner with the highest integrity and ethical regulation standards. It is devoted to helping people define and achieve their financial goals by guiding them to success. It has a diverse group of advisors with varying styles and personalities to ensure the financial success of clients.
Personal Benefit Financial
870 Kipling St Unit A
Lakewood, Colorado 80215
6. BAM Advisory Group
BAM Advisory Group is a well-known retirement planning firm helping individuals, business owners, and entrepreneurs. Investment Advisory Services, Retirement Planning, Health Care Planning, and Life Insurance are all areas in which the firm works to provide expertise and guidance to its clients. In addition to the aforementioned services, it provides final expense insurance and mortgage protection.
BAM Advisory Group is committed to upholding the highest standards of integrity and professionalism while serving its clients. The firm takes pride in providing unbiased, deliberate, and clear strategies to help clients set and achieve their financial goals.
BAM Advisory Group is fiduciary and generates lucrative results for its clients by weighing the possibilities, understanding the numbers, and minimizing risk in investments.
BAM Advisory Group
165 S Union Blvd Suite 424
Lakewood, CO 80228
7. Doleman Wealth Management
Doleman Wealth Management is a comprehensive, independent financial planning firm with over 20 years of industry experience, working with clients to achieve their goals and dreams. The services include retirement and income planning, estate planning, insurance evaluation and planning, and investment management.
The firm takes a holistic approach to planning, focusing on what is most important to its clients, such as their aims, aspirations, and desires. The professionals at Doleman Wealth Management has more than 70 years of experience in the financial services industry, ranging from investment and portfolio management to retirement and financial planning.
Doleman Wealth Management makes The Investment Profile Statement (IPS), the initial step in determining which assets and asset allocations are appropriate for a client. It enables clients to built a path of financial stability and ultimately achieve financial freedom. The advisors here conduct an in-depth “what’s best for my client” test as part of their fiduciary duty before making any recommendations.
Doleman Wealth Management
300 Union Blvd, Suite 100
Lakewood, CO 80228
Phone: (720) 283-2121
8. High Point Financial Group, LLC
High Point Financial Group, LLC is a private financial planning and wealth management firm that works primarily with families and individuals, entrepreneurs and executives, and pre-retirees and retirees. The firm offers cutting-edge products and services to help its clients grow, protect, and conserve their wealth at all stages of life.
High Point Financial Group provides local, independent, and unbiased professional services to assist clients in developing an insurance and financial framework for their future. The firm follows a thorough process to understand the financial situation, goals, and risk tolerance of each client to prepare a strategy that can increase the probability of success. Its combined experience in the financial services industry exceeds 150 years.
High Point Financial Group evaluates its clients’ situations and personal goals, analyses, develops, and implements a strategy, and then coordinates their financial activities. The firm has a distinct team environment, collective expertise, broad resources, community engagement, long-term relationships, and dedication.
High Point Financial Group, LLC
215 Union Blvd., Suite 200
Lakewood, CO 80228
9. Bason Asset Management
Bason Asset Management is a registered investment advisor with the Securities and Exchange Commission. Its investment advisory services include a comprehensive package that combines financial planning, portfolio management, and standalone, project-based financial planning.
The firm offers comprehensive service and primarily recommends open-end investment products and exchange-traded funds for investment. Bason Asset Management also advises clients who have individual stock positions, as well as clients who have existing positions in individual stocks and other securities.
As reflected in its flat annual retainer fee structure, the philosophy of Bason Asset Management is centered on low costs, passive (index) investments, tax management, and fair dealing with clients. It is dedicated to financial planning as a prelude to asset management.
Bason Asset Management
355 S. Teller St. Suite 200
Lakewood, CO 80226
10. The Normandy Group
The Normandy Group is a registered investment advisory firm that works with individuals, families, and businesses. The firm has a specialized team of professionals helping individuals make sound financial decisions for a secure and stable future.
Some of the major services of The Normandy Group involve tax and estate planning, financial planning, and investment management. During the execution of a Dynamic Wealth Design, the professional and collaborative team assists clients in addressing and meeting their investment, retirement, tax, estate, or insurance needs.
The Normandy Group is a completely independent company with no ties to any product companies. The firm acts as a fiduciary and prioritizes the interests of its clients. It works with the mission to assist clients in protecting and growing their wealth so that they can stop worrying about the future. Before working with clients, the company builds a deep understanding of their goals, needs, and preferences in order to help them create the future they desire.
The Normandy Group
575 Union Blvd Ste 201
Lakewood, CO 80228
The team providing this Top Ten financial advisors in Lakewood list believes smart people make smart decisions because they educate themselves on the choices they are preparing to make.
We hope we’ve helped you become smarter about choosing a financial advisor that meets your unique and specific needs.
We try to provide readers with up-to-date information that will help them make those good decisions for hiring financial advisors in Lakewood. We hope you’ve enjoyed reading the information we’ve provided and learned about some of the choices for Financial Advisors in the Lakewood area.
No content is intended to constitute professional advice. This content is not responsible or liable for any consequences relating directly or indirectly to any action you take or fail to take based on the information provided. It is very important to do your own analysis, based on your own personal circumstances, before making any investment.
Consult with your own investment, financial, tax, and legal advisers. Readers agree to indemnify and hold harmless the providers of this information, from and against any and all liability, losses, claims, demands, disputes, damages, or costs of any kind.
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