7 Best Financial Advisors In New York City (2023)

The irony of many financial advisors is they won’t work with you unless you’re already wealthy — in New York City, this is especially true. In fact, many NYC advisors require you to have a minimum of $1 million in assets to become a client. More often than not, this precondition rules out Millennials.

Get Matched with 5-Star Rated Financial Advisors in Your Area

Fortunately, you don’t have to be an old, established millionaire to work with a financial planner — you just have to know where to look. Listed below are seven of New York City’s best financial advisors.

Not only do they share a wealth of experience and widespread recognition in the industry, these men and women are paving the way for our generation — because it’s also their generation.

Overview of the best financial advisors in New York City

Douglas Boneparth, Founder of Bone Fide Wealth, LLC

• Contact: 212-390-1161 or [emailprotected]
• Services offered: Financial Planning (includes Cash Management, Investments, Insurance, Taxes, Retirement, and Estate Planning), Millennial Investing, Insurance (includes Life Insurance, Disability Insurance, and Long-Term Care Insurance), Workplace Benefits.
• Asset requirements: No minimum asset or investment requirement.
• Typical fees: Annual financial plans start at $1,950; Millennial investing services are based on a fee-only model.

At the time when Douglas A. Boneparth became a Certified Financial Planner (CFP®), he was one of the youngest in the country. Since then, he’s made young, driven professionals like himself the core of his practice.

In 2017, Douglas and his wife, Heather, wrote “The Millennial Money Fix” to help Millennials learn and implement practical solutions to their financial challenges.

He is a CFP® Board Ambassador and has received extensive recognition in publications like Investment News, Forbes, and CNBC as one of the nation’s leading next-gen financial advisors.

Andrew Altfest, President of Altfest Personal Wealth Management

• Contact: 212-406-0850 or [emailprotected]
• Services offered: Investment Management and Integrated Financial Planning (includes Retirement Planning, Tax Planning, Estate Planning, Insurance, Investment Review, Company Benefits, Education Planning, Cash Flow Goal Planning, and Charitable Giving).
• Asset requirements: While the firm generally requires a minimum account size of $1 million, this qualification is waived for young professionals.
• Typical fees: (For clients who are young professionals) For the first year, clients are charged 0.275% of assets on a quarterly basis, with a minimum quarterly fee of $625 (amounts to a minimum of $2,500 annually; reduced to $1,500 following the first year); Clients pay an hourly fee of $250 for additional financial planning services.

Dr. Lewis and Karen Altfest are industry trailblazers in the financial planning field, and their son Andrew Altfest is now paving the way for his own generation.

He has implemented and directed a variety of unique initiatives at Altfest Personal Wealth Management, such as spearheading the firm’s Young Professionals group, designed for Millennials. Andrew has also received a variety of awards and recognition, including in Forbes list of America’s Top Next-Generation Wealth Advisors in 2017, 2018, and 2019.

Julie Ford, Founder of Ford Financial Solutions

• Contact: 212-799-0631 or [emailprotected]
• Services offered: Financial Planning (includes Cash Flow & Budgeting, Investment Management, Insurance & Estate Planning, Employee Benefits, and more).
• Asset requirements: No minimum asset or investment requirement.
• Typical fees: For Comprehensive Planning (six-month engagement), typical fees are $2,500 upfront, then $450 monthly (based on complexity; with no ongoing commitment). Following the completion of the Comprehensive Planning, clients have the option of transitioning to Ongoing Planning (typical monthly subscription fee is $500, with no ongoing commitment).

Since founding Ford Financial Solutions in 2015, Julie Ford has sought to provide financial planning services for the complex lives of young, urban professionals.

“We guide our clients through the transitional seasons and competing financial goals that accompany these years, such as purchasing an apartment and saving for college while also planning for retirement,” her website reads.

Julie has developed a variety of financial education resources to assist these individuals, including online courses and her personal finance blog, Fiscal Therapy. She has also been featured in several prominent publications like The Wall Street Journal, Forbes, and more.

Kaya Ladejobi, Founder of Earn Into Wealth Strategies

• Contact: 646-494-6220 or [emailprotected]
• Services offered: Cash Flow & Budgeting, Tax Planning & Employee Benefits, Equity & Stock Compensation, Debt Management, Investments & Retirement Planning, Risk Management (Protection), Estate Planning, and Career & Business Choices.
• Asset requirements: No minimum asset or investment requirement.
• Typical fees: Hourly Advice: 30-minute session for $200 or a one-hour session for $400; Ongoing Financial Planning & Investment Management: starting at $6,000 annually ($500 monthly) for a single, W-2 earner. A one-time set-up fee applies for new clients.

Like many of the advisors listed above, Kaya Ladejobi founded her practice to address the lack of financial services available for young professionals — but not just them.

Kaya also recognized other people groups, namely women and people of color, were being underserved in the financial planning field. As a woman of color herself, Kaya launched Earn Into Wealth Strategies to remedy this need. In fact, Kaya hopes to support other women of color who are seeking financial planning as a career, by sponsoring two-three women each year to take the CFP exam. Additionally, Kaya has been featured in Business Insider, HuffPost, and more.

Gideon Drucker, Founder of Drucker Wealth Management’s Wealth Builder Division

• Contact: 646-647-2205 or [emailprotected]
• Services offered: Financial Life Plan™ (includes Tax Management Planning, Goal Based Financial Planning Analysis, Cash Flow Analysis, Protection Planning Analysis, Personal Risk # & Portfolio Analysis, and Retirement Readiness Road Map).
• Asset requirements: No minimum assets or investments; However, Wealth Builder clients (young professionals) typically have an income level over $100,000 and the capacity to save $1,000+ each month.
• Typical fees: For the Financial Life Plan™, Drucker Wealth Management charges a $2,000 one-time planning fee for clients age 29 and under; “We make objective, actionable recommendations that you can choose to implement with our firm or anywhere you feel comfortable. If you choose to work with us after your Financial Life Plan is complete, we may receive commission from some of the elements of your plan we implement.”

Like Andrew Altfest, Gideon Drucker was raised in the financial planning industry. His grandfather, Bernie Drucker, founded Drucker Wealth Management in 1959; his father, Lance Drucker, leads the firm as president today; and now Gideon is stepping in to serve the next generation as the founder and director of Drucker Wealth Management’s Wealth Builder Division.

Recognizing the complex financial needs of his own peers, Gideon created the HENRY Syndrome® suite of services (“High Earners, Not Rich Yet”), designed to educate young professionals and equip them to manage money well. He is also the author of “How to Avoid H.E.N.R.Y. Syndrome: Financial Strategies to Own Your Future” and was recently named a Top Next Gen Advisor by Forbes in 2019.

Kristen Euretig, Founder of Brooklyn Plans LLC

• Contact: 917-727-6497.
• Services offered: Personalized Financial Plans (includes Spending Analysis, Credit Report Review, Debt Analysis, Insurance Review, Estate Plan, Business Income & Expense Review, and more) and Investment Management.
• Asset requirements: No minimum assets or investments.
• Typical fees: Initial 30-minute consultations with Kristen range from $49 to $59; Kristen’s signature service, the Game Plan, costs $650 one-time + $225 per month for individuals and $950 one-time + $395 per month for couples (for a one-year term).

After several years serving high net-worth and low-income clients across New York City, Kristen Euretig founded Brooklyn Plans LLC to equip and educate women in their 20s to early 30s with the financial guidance needed to thrive (while Brooklyn Plans LCC specializes in working with women, no client is turned away on the basis of gender).

Among her financial planning services, Kristen created the Women Wealth Warriors Community, where members receive access to exclusive content to help them take control of their financial health. Kristen has also been featured in the Wall Street Journal, Forbes, and more.

Stash Wealth

• Contact: 212-913-9904 or [emailprotected]
• Services offered: Financial Planning (includes Estate Planning & Prenups, Accounting & Tax Preparation, Mortgages & Lending Solutions, Insurance & Protection Strategies, Legal Support for Start-Ups, and more).
• Asset requirements: no minimum assets or investments are required for the MoneyMASTERED™ course or the Stash Plan®; clients need $90,000 in minimum investable assets for Stash Management™.
• Typical fees: MoneyMASTERED™ (five video lessons and worksheets) – $247; Stash Plan® (“five-six week process; two one-hour virtual meetings with your dedicated financial planner; A little bit of homework”) – $1497 for individuals and $1997 for couples; Stash Management™ – Your first $90,000 of investable assets (minimum required) is billed at a flat fee of $90/month, or 1.2% per year, but the fee decreases as your assets grow above $250,000.

Stash Wealth is innovative in its financial planning approach, and it’s clear from the moment you open their website — introduced with the tagline “Get Your Financial Sh*t Together.” Co-founder Priya Malani began her career at Merrill Lynch and later at Capital Markets, but learned along the way that clients, especially Millennials, needed to be taught more than simply WHAT to do with their money — they needed to know WHY.

Stash Wealth is a uniquely designed, educational platform, offering online courses in financial planning and investment management for HENRYs™ (High Earners, Not Rich Yet). The firm has been highlighted in established publications like the Wall Street Journal and Forbes, as well as sites like Refinery29 and Girlboss.

Summary of the best financial advisors in New York City

How I came up with this list

The list of NYC advisors above consists of experienced financial planners who have crafted their businesses with us in mind — the young, budding professionals. Each fit the following criteria*:

They’re Certified Financial Planners®

All of the advisors on this list are registeredCertified Financial Planners® (CFP®).

Additionally, these advisors are all recognized as industry leaders and have been featured in multiple high-profile publications. Many have even received honors and awards for their leadership.

They don’t require a minimum asset level

Since most people under 30 don’t have millions and millions in assets (especially those that live in high-cost areas like NYC), I wanted to make sure that all of the advisors on my list do not require a minimum asset level to work with them.

They cater to Millennials

Minus a few lucky Millennials, most are not extremely wealthy. And, thanks to the lack of financial education in school, many Millennials didn’t learn a whole lot about how to manage their money. Luckily, all these advisors recognize that and are there to help.

With low fees and lower asset requirements, Millennials can feel comfortable going to these advisors with their unique money situations – no matter what shape their finances are in.

*Please note that only some, and not all, of the financial planners employed at Stash Wealth are CFPs (co-founder Priya Malani is a CFP), and their Stash Management™ course requires a minimum of $90,000 investable assets.

What should you look for in a financial advisor?

There are a variety of qualities you can use to narrow your search for an advisor, but most financial organizations agree to start by searching for a CFP® professional or a candidate for the CFP® certification. This credential is considered the “standard for excellence” in the financial planning realm, as all CFP’s have undergone rigorous education, passed a CFP exam, completed several thousand hours of professional experience, and agreed to follow a high code of ethics (the 4 “E’s”). Furthermore, all CFPs have agreed to act as “fiduciaries” when offering services, which means they are legally required to act in their client’s best interests — even to the detriment of their own.

Next, you’ll want to discuss with your potential advisor the topic of compensation. What you want to prioritize are advisors that are “fee-only,” which means they do not sell investment products or earn a commission.

Websites like the Fee-Only Network and the XY Planning Network list fee-only financial advisors exclusively. The majority of the financial planners listed above are confirmed fee-only advisors on these networks and/or on their personal website. Nevertheless, you should always ask your potential advisor how they’re compensated before doing business.

Finally, you’ll want to search for an advisor you like and, ideally, who is close to your age. Keep in mind you’re searching for someone to help direct a significant aspect of your life. They should be able to understand your unique goals and season of life and should be able to collaborate with you well.

What questions should you ask a financial advisor?

No matter where you choose to search for a potential financial advisor, here are some general questions to help you find a good match.

• Are you a CFP® professional? What other certifications, if any, do you have?
• Are you a fiduciary?
• How are you compensated for your services?
• Do you require a minimum income or asset level?
• What is your educational and professional background?
• Who is your primary clientele?
• What is your investment philosophy?

Summary

Money is a powerful part of your everyday life, and, in this time of life especially, your are facing a variety of important financial decisions.

When should I buy my first home? Where should I invest my money, and how do I even get started? How do I save for retirement and my child’s college fund at the same time?

This is why financial advisors can be such invaluable assets. They help you budget, prepare a thorough estate plan, diversify investments, navigate taxes, and more. But ultimately, these advisors can help you pursue and attain financial health. With the help of their expertise and education, you can take and maintain control of your money and, consequently, your life and your future.

Read more:

• Do You Need A Financial Advisor?
• How To Choose The Best Financial Advisor For You