Schools teach you everything except how to manage your finances.
And once you enter your professional life, you’ll realize the need for money management skills. The month’s end will always leave you scrounging for pennies unless you attend a finance-specific college or university. And you can’t even think about asking friends or family for advice.
It’s a tough situation, but one financial advisor in West Virginia can help you navigate.
The services a financial advisor provides vary. However, it mainly involves resolving money-related problems, like budgeting, taxing, saving, and more.
Due to the increase in the demand for financial advisors (35% of Americans worked with one in 2022), you’ll see many names pop up in your search list. Unfortunately, that’s only going to make things worse.
After all, with so many options, how can you tell which financial coach is the real deal? Well, there’s no need to worry about that. Not anymore.
Best Financial Advisors In West Virginia
We’ve compiled a list of the best financial advisors in West Virginia. Again, they provide a broad range of services. Therefore, it’s best to read about them before selecting one.
Vanguard tops the list of many similar articles, including ours. And it’s understandable why. It has two types of financial advising: a robo-advisor and a personal advisor. To manage the former, you’ll have to create a Vanguard Brokerage Account, which requires at least $3000. As for the latter, you must invest at least $50,000 to be considered eligible.
During the first 90 days, you won’t have to pay any advisory fees for robo-advisor. Once the period is over, the service cost will be 0.20% on the assets the company manages on your behalf. On the other hand, for personal advisors, the advisory fee is 0.30% per year.
– The investment advisor company offers financial calculators that make things easy and hassle-free.
– Vanguard’s mobile app, Beacon, or web app lets you track your financial goals in real-time.
– Customers with more than half a million dollars can access funds not offered to others.
– Vanguard takes no commission on ETF and stock trades.
– Investors have to pay half a grand at least to qualify for Vanguard’s personal advisor.
– Vanguard charges $20 service fees for most accounts.
Zoe Financial isn’t exactly a financial management firm; it only connects clients with financial advisors. But we’re including the company in the list due to its unique business model.
For starters, the financial coaches listed on Zoe Financial have to go through a thorough vetting process. In fact, the procedure is so tough that the company eventually rejects 95% of applicants (it’s written on their website).
Secondly, even though Zoe Financial is located in New York, the firm has an extensive network of financial advisors throughout the US. You can search for and hire one, irrespective of your location.
Last but not least, Zoe Financial’s blogs are worth checking out. They’re insightful and research-backed. The articles also feature guides that narrow down the process for hiring financial advisors.
– All financial advisors of Zoe Financial act as trustees and work on a commission-free basis. This means you can always count on them to make decisions that benefit you.
– Zoe Financial has an extensive network of advisors across the country.
– All the financial advisors Zoe Financial refers clients to are commission-free.
– Each financial advisor goes through a rigorous screening process.
– To search for financial advisors on Zoe Financial, you’ll have to enter confidential data pertaining to your income or assets. This may deter some users.
– You must have investable assets worth $100,000 or $75,000 annual income to be eligible for Zoe Financial’s services
It’s not every day you hear about a financial coach making waves in the industry that also happens to be an e-commerce website. But then again, there’s nothing ordinary about American Made LLC.
Established by Kashif Monk and based in West Virginia, American Made llc teaches the basics of finance and sells high-quality merchandise. It includes hats, shirts, and jackets.
The company is known for providing a comprehensive range of credit, banking, stocks, options trading, crypto, ETF, and business ownership resources.
From finance courses to podcasts, each tool you utilize is guaranteed to add more to your knowledge. And they are recorded by professionals who have spent years in the industry.
All these qualities make American Made llc an invaluable asset when it comes to financial coaches.
– American Made llc’s financial coaches cover a variety of topics, from banking to ETFs.
– The company sells the highest quality merchandise with ‘100% All American’ printed on them so that you can be proud of your country.
– The resources American Made llc offers, including podcasts and courses, are easy to understand.
– American Made llc’ services have been positively reviewed by many clients who benefitted from their help.
– The video quality of American Made llc’s podcasts could be improved
Just like Zoe Financial, SmartAsset connects you with a financial advisor without charging a penny. In addition to money management guidance, the platform offers free financial guides and calculators for retirement, investments, taxes, and savings.
Important: While SmartAsset will not charge you, the financial planner you match with will.
Speaking of matching with a financial planner, the process comprises three parts:
- Answer questions about your current and future financial goals
- Match with a list of financial advisors that SmartAsset selected
- Schedule an appointment with the financial advisor you hire
Apart from offering financial advice, the areas SmartAsset specializes in include:
- Estate Planning
- Student Loans
- Life Insurance
While hiring a financial coach through SmartAsset, you can ask questions from the advisor, too, like “How many clients are you working with right now?” or “What’s your preferred mode of communication?”
– SmartAsset narrows down your requirements to a great extent, including whether you wish to work with a remote advisor.
– Instead of wasting your time, SmartAsset lets you fill out a questionnaire in about 10 minutes. Once you’re done, it directly matches you with not just one or two but three advisors.
– Over 65 million people have benefitted from SmartAsset’s services
– SmartAsset provides more than just financial advice; it covers other areas too.
– SmartAsset does not have a mobile app.
– The topics the company writes blogs on are limited.
Betterment was founded and launched in 2008 in New York. So, it hasn’t been long since the company’s formation. 14 years is a long time, but not when you compare it with other financial advisor companies on this list, like Vanguard. The investment advisory firm has been around since 1975.
But that doesn’t make Betterment any less attractive.
It’s one of the few companies that can claim to be the largest stand-alone robo-advisor managing assets worth over $34 billion. Using the robo-advisor, you can set up multiple long-term goals related to buying a vehicle or making a down payment for your house.
The platform’s low management fees (0.25%) also make it worthy of being included in the list. It’s cheaper than most traditional human advisors that charge around 1% management fees.
– Betterment’s multiple portfolio construction options make it easy for users to work on more than one goal and objective
– Setting up an account on Betterment is easy and hassle-free. You only have to create an account and set a password
– Betterment offers the best of both worlds: access to a robo-advisor and human advisor
– While most financial advisor platforms offer direct indexing on accounts with $100,000 or more, Betterment does not.
– Creating a financial plan on Betterment is confusing. Once you’ve made an account, you’ll be directed to the dashboard with little instructions for moving forward.
Managing your finances can be mentally and physically taxing, which is why you need to enlist the help of a financial advising firm. While there are plenty of options (as we discussed in our blog), you can only choose one.
Let that one be American Made llc. We’re firmly committed to helping you make the most of your financial situation, no matter how tough it is. Our resources can significantly benefit you so that you can achieve your financial goals confidently
Frequently Asked Questions (FAQs)
The gist of all financial advising platforms is the same: to connect you with professional coaches who can make sense of your situation.
It varies, depending on the financial advisor. For instance, some platforms charge you for matching with coaches, while others don’t.
Before you hire a financial advisor, check for their previous experience, make sure they’re a fiduciary, and find out how much they charge.
If you can’t understand where your money goes, or you need to save for long-term goals, it’s best to hire a financial advisor.
Financial planners follow a holistic approach to develop comprehensive, long-term plans. Financial advisors, on the other hand, can help you with retirement, taxing, or saving.