Are you in search of reliable financial advisors in O’Fallon? There are a lot of people in Missouri who keep on searching queries like “best wealth advisors near me” on Google.
Hiring a financial advisor for managing your investments and wealth is a major decision. You are trusting a firm or an individual within a firm with your money and you’ll never want to be wrong with your choice.
But the question is, how to ensure that you are making the right decision and your money is in safe hands? This can be done by educating yourself about the different fee structures of financial advisors and then analyzing how each structure is going to affect your savings or retirement plan in the long run.
Why Do You Need Financial Advice?
You have so many options available when it comes to investing your money. Whether you are going through a career transition or thinking of starting a business, you need a smart financial strategy that can lead you toward success.
In order to make the right decision, a lot of people hire O’Fallon financial planners. The right financial advisor helps them to navigate smoothly through sudden life changes i.e. marriage, divorce, the birth of a child, switching a career, or getting retirement.
Parallel to that, while selling a business, you often need a new approach and point of view to look at things. In this scenario, an expert financial planner and business broker help you identify your strengths and weaknesses so that you can make sound financial decisions.
It’s a fact that every stage of your life asks for a different approach to planning, investing, and saving money depending on your circumstances. For instance, if you start investing money at the age of 20, your approach to managing wealth and investments will be far different than a person starting at the age of 65.
There are a lot of things that you should consider before investing money. Some of them include your current income, the strength of your portfolio, and most importantly the financial advisor you choose.
How Can You Accomplish Financial Planning
You can accomplish financial planning in several different ways. Some of them are:
1. Signing up with an online do-it-yourself investment company
When you choose an online do-it-yourself firm, it lets you do everything on your own without any human advice. This option comes with a lower price or cost to invest. It’s because there is no other human being involved in the process of handling transactions or doing research on your part.
2. Hiring a financial advisor
Just like hiring an O’Fallon CPA, the option of having your own financial planner or wealth manager comes at a higher cost but with lucrative results.
According to analysts, you can expect 2% to 4% higher results when you actively involve a financial planner as compared to handling it all alone.
Payment Structures of O’Fallon Financial Advisors
No doubt, the option of hiring a financial planner to generate greater returns is expensive. That’s why you must first analyze if this option is beneficial for you or not.
For this purpose, you need to develop a crucial understanding of how O’Fallon financial advisors make money. In this way, you’ll better be able to analyze how they help you make money.
The most commonly used payment structures when hiring financial advisors in O’Fallon 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?
Always remember that choosing the wrong payment structure can lead to a conflict of interest.
For example, if a financial advisor is charging you on an hourly basis and is not totally invested in helping you make more money, that person will surely spend time on another account. They make more money the more investments and assets grow in an Asset Management account.
In the same way, such financial advisors in O’Fallon can make unnecessary transactions if they get a flat fee per transaction.
In our opinion, choosing the commission-based fee structure can encourage more productive results. In this structure, a financial advisor takes a portion of the growth of the investment.
How to Choose the Right Financial Advisor in O’Fallon
Do you want to ensure that the financial advisors in O’Fallon are not pushing you to make investments that suit their interests more than yours?
The best way to do so is to ask the financial planner, “Do you have a fiduciary responsibility to my investments?”
If the financial planner is licensed, he/she must invest in your best interest first even if it does not benefit them. They will be bound by ethics and regulations to do so.
On the other side, if the financial planner does not hold a strong sense of fiduciary responsibility, he/she could lead you to a riskier path.
However, this risker path can also provide a higher payoff for you.
So, there’s no one formula fits all scenario here. It would be hard to determine which choice is better. Safer? Or bigger and better results? It entirely depends on your situation. You can try it both ways to find out which approach works best for you.
The wisest choice? Plan a meeting with your financial advisor and see if you feel comfortable with the road he or she has planned for you. Make sure it is tailored to the results you desire.
10 Best Financial Advisors in O’Fallon
To help you save time, we have prepared a list of the best financial advisors in O’Fallon after doing thorough research. The following companies are selected based on their experience, ratings, reviews, and expert services. Have a look:
1. Taxvantage Advisors, LLC
Taxvantage Advisors, LLC is a leading tax preparation firm specializing in maximizing tax savings for clients. With years of experience and a team of highly qualified Enrolled Agents, the company offers expert advice and solutions in all areas of taxation, including corporate, estate, individual, partnership, federal, local, and state taxes.
Serving clients as their external tax department, Taxvantage Advisors understand that each individual and business has unique needs. That’s why it provides personalized services and is available to answer clients’ questions and help with ongoing tax planning and changing business needs.
Taxvantage Advisors offers various services for business owners, executives, and independent professionals. Its service categories include tax planning, tax preparation, IRS tax problem resolution, business consulting, past years & non-filers, and offer-in-compromise.
Taxvantage Advisors, LLC
18 Piepers Glen Court
O Fallon, MO 63366
Phone: (636) 379-1500
2. Markell Estate Planning & Elder Law LC
Markell Estate Planning and Elder Law LLC is a trusted full-service estate planning, probate, and elder law firm serving clients in Missouri and Greater Springfield. The firm’s mission is to help clients plan today’s economics for a better tomorrow, ensuring that their wealth, legacy, and wisdom are passed down to future generations efficiently and seamlessly.
The experienced and caring representation of Markell Estate Planning and Elder Law LLC ensures that clients never have to face significant life planning decisions alone. The firm’s expertise in estate planning and elder law issues provides clients with a comprehensive plan that addresses all the potential problems that may arise.
Markell Estate Planning and Elder Law LLC works with clients’ existing financial advisors and accountants to ensure a comprehensive plan that addresses all potential issues. It offers a wide range of services, including estate planning, probate, elder law, guardianships, wealth management, business succession, special needs planning, and Medicaid planning.
Markell Estate Planning & Elder Law LC
6700 Keaton Corporate Pkwy., Suite A
O’fallon, MO 63368
Phone: (636) 466-8349
3. Renaud & Co Investment Advisors
Renaud & Co Investment Advisors is a family-owned and operated financial advising company that provides fee-based financial services to clients. With over 24 years of experience in the field, Matt Renaud is a certified senior advisor and a registered investment advisor.
Renaud & Co Investment Advisors are well known as financial educators throughout the region and are committed to helping their clients make wise investments and achieve their financial goals effectively.
As fee-based financial advisors, Renaud & Co Investment Advisors are dedicated to putting their client’s best interests first. It provides a wide range of financial services, including financial planning, retirement planning, annuity planning, wealth management, estate planning, and trust planning.
Renaud & Co Investment Advisors
763 W Terra Lane
O’Fallon, MO 63366
Phone: (636) 688-7173
4. Retire Once Financial Management, LLC
Retire Once Financial Management LLC is an independent financial services firm that aims to help individuals achieve their ideal retirement goals. The firm believes in creating a customized and well-thought-out strategy that utilizes a variety of investment and insurance products and services to address clients’ financial needs and economic concerns.
The firm’s three-step process begins with a meeting to discuss clients’ financial situation and their vision for retirement. The second step involves examining and revitalizing clients’ retirement plans, while the third step involves receiving a custom strategy to reach their goals and navigate the ever-changing financial landscape.
Retire Once Financial Management understands that everyone’s retirement goals are unique, and the firm’s team of professionals is dedicated to helping clients create a personalized strategy to achieve them. It specializes in retirement planning, legacy planning, social security planning, life insurance, tax-efficient strategies, long-term care strategies, Medicare supplements, and safe money strategies.
Retire Once Financial Management, LLC
9101 Phoenix Village Parkway
O’Fallon, MO 63368
5. Means Financial Group
Means Financial Group is a full-service financial firm dedicated to helping individuals and business owners achieve their financial goals. Its team of professionals offers a wide range of financial and insurance products, providing clients with reliable financial information to make sound decisions.
With a commitment to client-centred service, Means Financial Group takes a step-by-step approach to develop customized financial programs. The firm’s team works closely with clients to establish their goals and create appropriate strategies to suit their vision and objectives.
The firm’s product and service offerings include tax management, investment management, retirement strategies, estate conservation, life insurance, and annuity products. If the firm doesn’t have a product or service a client needs, they have networked with various financial and insurance companies, as well as attorneys and certified public accountants, and can refer clients to those groups.
Means Financial Group
1425 Triad Center Drive
St. Peters, MO 63376
6. Mission Financial
Mission Financial is a full-service financial firm dedicated to helping clients achieve their financial goals and lead peaceful and economically stable lives. With a focus on building life-changing wealth that positively impacts clients and their families, the company to exceed clients’ most important financial goals.
At Mission Financial, clients are more than just a number – they become extended family members. The team is driven by years of experience, disciplined planning, sharp insight, and analytical capabilities. With personalized guidance, Mission Financial applies knowledge and understanding to each client’s specific issues and needs.
The firm’s services are tailored to meet each client’s unique needs, including business owners, corporate executives, corporate retirement plans, and families and individuals. Services offered include business planning, corporate retirement plan consulting, education planning, estate planning, charitable giving and trust, financial planning, longevity planning, retirement planning, and risk management.
4045 N Saint Peters Pkwy Ste 206
Saint Peters, MO 63304-7398
7. B.E.S.T Wealth Management
B.E.S.T. Wealth Management is a financial planning and investment management firm. Established in 2006, the firm operates on the principle that everyone deserves access to sound financial planning advice and assistance with investing their money. Unlike many other firms, B.E.S.T. Wealth Management has no investment or fee minimums, meaning they are happy to help individuals at any stage of their financial journey.
While investment management is a crucial component of their services, B.E.S.T. Wealth Management takes a comprehensive approach to financial planning, focusing on their clients’ entire financial picture. By doing so, they can provide detailed recommendations tailored to each client’s goals and concerns, helping them protect their hard-earned money.
B.E.S.T. Wealth Management serves clients from all walks of life. The firm’s client base includes young professionals, mid-career professionals, pre-retirees, retirees, and widows. The firm’s services include financial planning, investment management, tax preparation, and business services.
B.E.S.T Wealth Management
8. JBL Financial Services, Inc.
JBL Financial Service, Inc is a team of retirement coaches dedicated to providing personalized coaching to individuals and organizations seeking comprehensive financial planning solutions. Its holistic approach and hands-on team system make clients feel at home and confident in their financial futures.
At JBL Financial Services, every member takes pride in being a retirement coach, not just an investment advisor. They understand that everyone’s financial goals are unique and require a tailored game plan to ensure their clients’ financial independence in retirement. They provide education and counselling at every step of the way to simplify complex financial concerns and make informed decisions about their client’s futures.
JBL Financial Services does not require an investable asset minimum. Their clients come from a wide range of ages and occupations, including young professionals, mid-career professionals, pre-retirees, retirees, and divorcees. Its services include individual and business coaching sessions, innovative solutions, comprehensive consulting, and business value.
JBL Financial Services, Inc.
9300 Olive Blvd
St. Louis, MO 63132
Phone: (314) 863-0008
9. Financial & Tax Architects
Financial and Tax Architects is a fiduciary firm offering retirement planning services to clients. Its approach is straightforward, taking a deep dive into all aspects of retirement financial planning. Trademarked as Your Retirement Professors™, the firm offers intensive, hands-on classes online as live webinars and at different colleges and universities throughout the St. Louis metro area. All who attend one of their classes receive a free, no-obligation, in-depth retirement plan.
Founded in 1998, Scott Brooks started teaching retirement education classes at Mizzou, and since then, Scott and other representatives of Financial & Tax Architects, Inc. have helped hundreds of clients plan for their retirement, arrange for their long-term care needs, and leave a legacy behind for their heirs.
The underlying retirement planning philosophy of Financial and Tax Architects is “Losses Hurt You More than Gains Help You™”. They believe it’s no longer enough to invest money in the stock market and hope for the best. The most critical element to a successful retirement is the ability to have a reliable source of income for life.
Financial & Tax Architects
12412 Powerscourt Drive, Suite 25
Saint Louis, MO 63131
Phone: (314) 858-1122
10. Toberman Wealth
Toberman Wealth is a fee-only financial advisory firm. Its personalized financial planning solutions aim to protect clients’ futures, build their legacy, and nurture their goals with a financial planning process solely focused on their economic well-being.
Craig Toberman, the founder of Toberman Wealth, has over a decade of experience in financial services and has crafted custom financial plans for hundreds of families and businesses. He believes wealth is a tool for doing remarkable good when managed with clarity, organization, and communication.
Toberman Wealth serves families as fee-only, independent, and fiduciary financial advisors. The firm offers retirement planning, investment management, tax planning services, and family business services.
1741 S Big Bend Blvd,
St. Louis, MO 63117
Phone: (314) 783-9860
The team providing this Top Ten financial advisors in O’Fallon 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 O’Fallon. We hope you’ve enjoyed reading the information we’ve provided and learned about some of the choices for Financial Advisors in the O’Fallon 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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