Do you want to hire a trustworthy financial advisor in St. Joseph? There are a lot of people like you in Missouri who keep searching “best wealth advisors near me” on Google and it’s quite understandable.
We know hiring a financial advisor is an important decision because you are going to trust a firm or an individual within a firm with your assets. You’ll never want to go wrong with protecting your money and investing it for wealth accumulation or retirement.
But, how can you ensure that your money is in the right hands? How can you gather the right knowledge about the fee structure of financial advisors and how it affects your savings or retirement plan in the long run?
Why Do You Need Financial Advice?
There are a lot of options available for financial advisors when it comes to investing your money. Whether you are in the transition phase, just starting your business, or looking for a risk-free retirement plan, you need a sound strategy to do so.
That’s why a lot of people seek the advice of St. Joseph financial planners to navigate smoothly through sudden events of life like marriage, divorce, childbirth, quitting a job, switching a job, or shifting towards entrepreneurship.
Besides that, if you are in the phase of selling your business, it often results in needing an entirely different approach. During this process, you need a good business broker and financial planner to help you make the best choices.
Thus, every stage of your life demands a new approach to saving, investing, and planning your money. It entirely depends on your circumstances.
Let’s say a person begins investing money at the age of 21, his/her needs and approach to investment will be different than a person who starts this process at the age of 60.
Yes, we cannot deny that there are a lot of factors to consider when it comes to investing. This includes your approach, how strong the investment portfolio is, and the present income of an individual. But, above all these factors, the chance of your success or failure majorly depends on the financial planner you hire.
Your financial strength in the long term depends on the political climate, the state of your country’s economy, and how your financial planner takes you through the ups and downs of the market.
How Can You Accomplish Financial Planning
There are many different ways to accomplish financial planning. The two major ones are:
1. Signing up with an online do-it-yourself investment company
When you choose an online do-it-yourself firm, it allows you to handle everything without any human advice. This option comes with a lower cost or price. It’s because no human being is involved in doing research or making transactions in the investment.
2. Hiring a financial advisor
Just like hiring a St. Joseph business broker, hiring your own wealth manager or financial planner comes with higher costs but with lucrative results.
Financial analysts say that you can expect 2% to 4% better results when you work with a financial planner as compared to handling it all alone.
Payment Structures of St. Joseph Financial Advisors
It’s true that involving a financial planner in wealth management to get greater returns comes at a higher cost. So, you must first analyze if it will work in your favor or not.
To get a better understanding of this, learn how St. Joseph financial advisors make money. It will help you analyze how they work to make you money.
The most commonly used payment structures when hiring financial advisors in St. Joseph 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?
In order to make the best choice, know that a conflict of interest can arise if you go with the wrong structure that does not meet your needs.
For example, if a financial advisor charges an hourly fee and is less concerned about helping you make more money, that person is more likely to spend time on another account. When they make more money, more investments and assets grow in an Asset Management account.
Besides that, financial advisors in St. Joseph can transfer money unnecessarily if they get a flat fee per transaction.
So, in our view, choosing the commission-based fee structure can boost results. It involves taking a portion of the growth of the investment.
How to Choose the Right Financial Advisor in St. Joseph
How can you analyze that the financial advisors in St. Joseph are not suggesting you to make investments that suit their interests more than yours?
The best way to understand this is to ask your potential financial planner, “Do you have a fiduciary responsibility to my investments?”
If the financial planner is licensed, he/she will be bound by ethics and regulations to must first invest in your best interest even if they do not benefit from it.
On the other hand, if a financial planner does not take fiduciary seriously, he/she could lead you to a riskier path. However, this path can also end up with a higher payoff. Nobody knows.
So, it’s hard to determine which choice is the best. It truly depends on your situation. You can try both options and decide later which one works best for you.
The safer side? Have a meeting with your potential financial planner first and get to know him/her. Make sure you feel comfortable with the plan they have created for you. It should be tailored to the results you want to achieve.
10 Best Financial Advisors in St. Joseph
Here is the list of the top 10 best financial advisors in St. Joseph for you. We have done detailed research and selected these companies based on their reviews, experience, ratings, and professional services. Have a look:
1. Gertsema Wealth Advisors
Gertsema Wealth Advisors is a wealth management and financial advisory firm providing a higher level of service to clients and delivering transparency, trust, and accountability. It has a team of experienced financial advisors helping people from all walks of life find their own vision of true wealth.
The firm helps puts a solid financial plan in place for you so that you can pursue your vision and maintain the wealth you have achieved. It makes sure you are educated on how to manage your money and investments with as much or as little information as you like.
Unlike other financial advisors who just care about managing the money and table stacks of your investment, Gertsema Wealth Advisors helps you plan all the key areas of your financial life by providing neutral opinions and making complex processes simpler.
Gertsema Wealth Advisors
2425 N Woodbine Rd Suite B&E
Saint Joseph, MO 64506
Phone: (816) 259-5060
2. Storyline Financial Planning, LLC
Storyline Financial Planning, LLC provides investment management and financial planning services serving Christians. Donovan Brooks, CEO of Storyline Financial Planning, is a fee-only Certified Financial Planner and a Certified Kingdom Advisor helping his Christian clients in aligning their personal finances with their faith.
Donovan holds 5 years of experience in this field and he is a member of many important networks like NAPFA, XY Planning Network, Kingdom Advisors, Kansas City Financial Advisors Network, and Christian Financial Advisors Network. He has done Bachelor in Financial Services and Financial Management.
Storyline Financial Planning, LLC starts by doing a comprehensive analysis of your finances through different lenses like cash flow, debt, insurance, taxes, savings, investments, education, retirement, and goals. Then, it prepares a customized plan based on your unique financial circumstances and provides ongoing engagement and support as your life changes.
Storyline Financial Planning, LLC
602 Felix Street, Suite 300,
Saint Joseph, MO 64501
3. Makison Insurance & Retirement
Makison Insurance & Retirement provides stability and peace of mind by offering strong insurance foundations. Jerry & Nancy Makison are independent insurance and retirement experts having access to all the top products and companies to make comparing benefits and prices easy for the clients.
Some of the major services of Makison Insurance & Retirement include medicare, life insurance, IRA, and estate protection. The firm holds the necessary expertise to put you out of financial pressure and helps you with all your retirement needs.
At Makison Insurance & Retirement, Jerry and Nancy believe that having a strong financial plan makes you able to achieve your financial goals besides providing a clear roadmap to a risk-free retirement future.
Makison Insurance & Retirement
2411 Woodbine Rd
St. Joseph, MO 64506
4. Wells Fargo Advisors
Wells Fargo Advisors is a full-service financial advisory firm providing financial planning, investments, and brokerage services in addition to online trading for your retirement goals. It is a subsidiary of Wells Fargo which is located in St. Louis, MO.
As of June 30, 2021, Wells Fargo Advisors is the third-largest brokerage firm in the US. The firm helps its clients create and manage their own customized investment plan designed to enable them to achieve their financial goals and life needs.
The firm holds expert advisors and cutting-edge tools that are supported by renowned research analysts and strategists. Whether you prefer face-to-face contact with a financial advisor, phone advice, or some online tool, Wells Fargo Advisors lets you choose how and to what degree you want the experts to manage your account or manage it on your own.
Being a leading investment firm with a rich history of serving communities across the nation, Wells Fargo Advisors brings both Wall Street vision and Main Street values to build its relationship with clients. it provides financial advice beyond investments to fulfill all your insurance, banking, general money matters, and lending needs.
Wells Fargo Advisors
2900 S State St Suite 3E,
St Joseph, MI 49085
Phone: +1 269-408-1776
5. Family Investment Center
Family Investment Center provides financial planning, investment management, and retirement planning services. It is a fee-only firm that follows Total Financial Wellness that is commission-free, research-based, and purposeful.
The firm serves as your fiduciary. It treats your money with the same attention and care that it treats its own. It upholds the highest level of care in the industry by practicing fairness, objectivity, suitability, full disclosure, integrity, honesty, and regulatory compliance.
The advisors at Family Investment Center are not salespeople – they are true advisors working toward your financial stability. They sit down with you to talk about your goals and are committed to your investment objectives and financial success.
Family Investment Center is a member of NAPFA and is listed among national advisors who truly subscribe to the belief that clients’ needs come first. Its areas of expertise include tax preparation & planning, cash flow management, goal setting, risk management, business planning, education planning, and insurance planning.
Family Investment Center
3805 Beck Road
St. Joseph, MO 64506
6. Tom Tewell
Tom Tewell has been helping families with financial guidance since 1994. He graduated from Kansas State University and then got his MBA degree from Rockhurst University in 1988. After serving the construction industry for many years, Tom Tewell decided to help families understand life insurance and the protection that comes with it.
With the passage of time, Tewell’s client base grew a lot and that’s when Tom Tewell & Associates came into existence. He started helping families in multiple states across the country. His firm manages to keep all the operations fully transparent and behave in a sustainable manner to form trustworthy and long-term relationships with clients.
400 Jules, Suite 200
St. Joseph, MO 64501
Phone: (816) 390-1414
7. Logan Financial Services
Logan Financial Services offers insurance and financial services and products for individuals, families, and businesses. It has trained professionals who enable you to identify your financial needs so that you can determine the financial and insurance products that can help you achieve your goals.
To keep pace with the ever-changing needs of the clients, Logan Financial Services continuously strives for improvement by getting access to new products, expanding quality service, enhancing product features, and pioneering new technologies.
Curt Logan, CEO of Logan Financial Services, is a licensed agent of New York Life Insurance Company and a registered representative of NYLIFE Securities LLC, and a Member of FINRA/SIPC, a Licensed Insurance Agency.
His firm offers a variety of products and financial products to meet your insurance and financial needs. This includes college funding, retirement, and lifetime income strategies.
Logan Financial Services
3715 Beck Rd, Building C Suite 301
Saint Joseph, MO 64506
8. Commerce Trust Company
Commerce Trust Company is a leading financial advisory firm offering investment management, private banking, wealth management, and trust service for high net-worth individuals. It is a division of Commerce Bank serving individuals, families, and institutional clients.
With over 100 years of experience in wealth management, Commerce Trust Company has earned a reputation as one of the premier investment management companies in the United States. The firm is ideal for people looking for comprehensive wealth management services parallel to building strong relationships with their financial advisors.
Commerce Trust Company has helped its clients reach their financial goals successfully by listening to their needs, offering solutions, providing objective guidance, and preparing customized plans along the way.
The firm takes a full-service approach to managing wealth with the goal of simplifying your complex financial life. While working with Commerce Trust Company, you can secure and be confident about the future of your family.
Commerce Trust Company
St Joseph, MO 64501
9. Colton Saunders – Edward Jones
Colton Saunders is a financial advisor at Edward Jones serving individuals and business owners who are serious investors in the long term. Before discussing an investment plan, Colton gets to know his clients first and their financial goals first. He works with other professionals like attorneys and CPAs to go with a team approach while coming up with the most appropriate financial strategies for clients as well as their families.
Colton Saunders holds the hold the Series 7 and Series 66 registrations, Insurance Licenses, and the Accredited Asset Management Specialist™ designation. Before working at Edward Jones, he ran his own business for 10 years. Later he chose to offer his services as a financial advisor at Edward Jones because he was interested in guiding individual investors with their financial goals.
Colton Saunders – Edward Jones
2610 N Belt Hwy
Saint Joseph, MO 64506
Phone: (816) 232-1205
10. Mark K Matthews – Edward Jones
Mark K Matthews serves individuals who are serious long-term investors. He has worked with numerous clients for more than two decades and across multiple generations of many families. He also serves on the board of directors of the South Central Buchanan County Fire District.
He believes in following a team approach while helping clients reach their financial goals. Mark K Matthews takes great satisfaction in partnering up with attorneys and accountants of clients to empower them with a healthy financial future.
Mark K Matthews – Edward Jones
3300 Dale Avenue Suite 106
St Joseph, MO 64506
Phone: (816) 232-5757
The team providing this Top Ten financial advisors in St. Joseph 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 St. Joseph. We hope you’ve enjoyed reading the information we’ve provided and learned about some of the choices for Financial Advisors in the St. Joseph 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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