Best Financial Advisors in Washington, DC (2024)
Top 5 Financial Advisors in the DMV, Ranked and Rated
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In the political heart of the United States, Washington DC, managing finances effectively is as crucial as it is complex. Whether you’re a federal employee, a non-profit leader, or an entrepreneur, the right financial advisor can be your ally in achieving financial stability and growth.
This guide is designed to introduce you to the “5 Best Financial Advisors in Washington DC,” carefully selected to cater to a diverse range of financial needs and goals.
Financial advisors play a critical role in crafting a financial plan that align with your personal and professional goals. They offer a range of services, from investment management and retirement planning to tax advice and estate planning.
Our selection process for this list was meticulous and thorough. We considered a variety of factors, including afirms’ reputations, range of services, client reviews, and industry accolades.
This rigorous approach ensures that our recommendations are not only trustworthy but also stand out in their ability to provide exceptional financial guidance.
Find a Top-Rated Washington DC Financial Advisor Today
1. Finding a financial advisor doesn’t have to be hard. WiserAdvisor’s free tool matches you with up to 3 financial advisors in less than 5 minutes.
2. Each advisor has been vetted by WiserAdvisor and is held to a fiduciary standard to act in your best interests. Get on the path toward achieving your financial goals.
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Best Financial Advisors in Washington, DC
Cassaday and Company tops our list, renowned for their comprehensive approach and outstanding client service. They are followed by equally competent firms like VLP Financial Advisors and Edelman Financial Services, each bringing unique strengths to the table. The remaining advisors were selected for their proven track records and commitment to client success.
As you explore our top picks, we also provide a detailed guide on how to choose the right financial advisor for you. This guide includes best practices and key factors to consider, ensuring that you make an informed decision tailored to your individual needs.
Whether you are looking to secure your financial future, manage your wealth, or navigate the complexities of financial planning, these top financial advisors in Washington DC are equipped to guide you every step of the way. Let’s delve into the list and help you find the advisor that best suits your financial journey.
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#1. Cassaday and Company
Cassaday and Company, headquartered in McLean, Virginia, has carved a niche for itself as a leading financial advisory firm in the Washington DC area. With a guiding principle to “always do the right thing,” the firm has established a strong reputation for its comprehensive approach to financial planning. With almost $5 billion in assets under management, the company caters to a broad spectrum of client needs.
Awards and Recognition
Cassaday and Company’s commitment to excellence and client service has been recognized with several prestigious awards in recent years. Notably, the firm has been consistently lauded by Barron’s, being named the #1 Financial Advisor in Virginia multiple times from 2014 through 2023, and earning a spot in the Barron’s Hall of Fame in 2019.
Their recognition extends to the national level, with Barron’s listing them among the Top 100 Financial Advisors in the Nation and the Top 100 Independent Financial Advisors in the Nation from 2016 through 2023.
Forbes has also acknowledged the firm’s expertise and performance. Cassaday and Company was recognized in Forbes’ America’s Top Registered Investment Advisory (RIA) Firms for 2022 and 2023 and has made the Forbes Best-In-State Wealth Advisors list from 2018 through 2023.
Furthermore, they’ve been spotlighted in Forbes’ Best-In-State Next-Gen Wealth Advisors for 2019–2020 and 2022–2023, highlighting the firm’s focus on nurturing the next generation of financial advisors.
The Washington Business Journal has honored Cassaday and Company for its commitment to corporate philanthropy, featuring them on its Corporate Philanthropy list in 2023. This marks the fifth consecutive year the firm has been recognized for its philanthropic efforts in the DC Metro area.
Philanthropic Efforts
Beyond their financial advisory services, Cassaday and Company is deeply committed to community service. The firm has a dedicated Charitable Fund established in 2008, supporting local organizations that assist the needy in various essential aspects like food, shelter, and medical care.
Their philanthropic philosophy is not only reflected in their monetary contributions but also in encouraging their employees to engage in community service, offering Volunteer Paid Time Off and matching employee donations to their Charitable Fund by 200%.
Cassaday and Company’s blend of professional excellence and community involvement sets them apart as a leader in the financial advisory space in Washington DC.
Their extensive list of awards and recognition, coupled with their dedication to philanthropy, underscore their commitment to both their clients and the wider community.
For more details and a comprehensive list of their awards and recognitions, you can visit Cassaday and Company’s official website here.
Cassaday & Company — Quick Facts
Years in business: 27
Assets Under Management (AUM): $4.6 billion
Minimum account size: $1 million
Fees: 1.2% — .5%
Click here to request a free consultation with Cassaday & Company today.
#2. VLP Financial Advisors
VLP Financial Advisors, located in Vienna, Virginia, has established itself as a formidable presence in the financial advisory landscape of the Washington DC area.
This independent, full-service wealth services firm boasts over $1 billion in assets under management as of the end of 2022, serving a diverse clientele nationwide.
VLP Financial Advisors is renowned for its comprehensive approach to financial planning, investment management, and retirement planning, both for individual clients and corporate entities.
Notable Team Members and Expertise
The firm’s team includes financial professionals who are not only well-credentialed but also recognized for their expertise and contributions to the field.
For example, Chris Mellone, a financial planner at VLP, is known for his insights on global markets and strategic investment strategies. Similarly, Dan Lash, with over 25 years in the financial industry, specializes in wealth accumulation, distribution, retirement, and tax planning.
Bruce Vaughn, with more than 30 years of experience, has been instrumental in growing VLP and is passionate about retirement income planning and advising small businesses.
Recent Awards and Recognition
Members of the VLP Financial Advisors team have been acknowledged for their professional excellence. In 2022, both Chris Mellone and Dan Lash were recognized as Top Financial Professionals by Northern Virginia Magazine.
Bruce Vaughn’s contributions have also been celebrated, earning him a spot in the Washingtonian Magazine’s Top Wealth Advisor Hall of Fame and a Lifetime Achievement Award from the Financial Planning Association-National Capital Area Chapter.
Philosophy and Approach
VLP Financial Advisors believes in partnering with their clients to align financial decisions with their long-term goals and vision. The firm’s ‘VLP Live Greater Partnership Process’ is a testament to their commitment to helping clients navigate every stage of their financial journey.
They offer personalized service, ensuring that clients’ individual needs and aspirations are at the forefront of their advisory process.
VLP Financial Advisors’ blend of experienced professionals, comprehensive service offerings, and client-centered approach positions them as a top choice for those seeking financial guidance in the Washington DC area. Their recent recognitions serve as an affirmation of their commitment to excellence in the financial advisory domain.
For more detailed information about VLP Financial Advisors and their achievements, you can visit their official website here.
VLPFA — Quick Facts
Years in business: 34
Assets Under Management (AUM): $1 billion
Minimum account size: N/A
Fees: 1.25% — .5%
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#3. Edelman Financial Engines
Edelman Financial Services, was founded by Ric and Jean Edelman in 1987. Ric Edelman quickly became the go-to financial expert in the DC area with a number of best selling finance books and guest appearances on tv and radio.
After a strategic merger with Bill Sharpe’s Financial Engines in 2018, the company, Edelman Financial Engines, is today a prominent independent financial advisory firm with offices in all 50 states. Edelman Financial Engines has been at the forefront of providing comprehensive financial planning and wealth management services.
Industry Recognition
Edelman Financial Engines has been consistently recognized for its excellence in the financial advisory domain. The firm has been included in Barron’s 2023 Top 100 RIA Firms list from 2018 through 2023.
This prestigious ranking is based on a blend of qualitative and quantitative factors, including assets managed, technology investment, staff diversity, and succession planning.
Additionally, the firm has been listed in the Financial Times 300 Top Registered Investment Advisers. This independent listing, produced annually by the Financial Times, evaluates firms based on assets under management, asset growth, compliance record, operational years, credentials, and online accessibility.
Client-Centric Services
Edelman Financial Engines offers a wide array of services tailored to meet the diverse needs of its clients. These services include:
- financial planning,
- investment management,
- retirement planning,
- tax planning,
- and estate planning.
The firm’s approach is to provide personalized attention and expert guidance to help clients navigate complex financial landscapes and achieve their financial goals.
Commitment to Client Success
With a strong focus on client success, Edelman Financial Engines operates with the belief that every individual deserves the opportunity to advance their financial life.
The firm’s team of experienced financial advisors and in-house experts is dedicated to understanding individual client needs and offering integrated advice and strategies.
Edelman Financial Engines stands out for its commitment to providing high-quality financial advisory services and its recognition by respected industry publications. The firm’s comprehensive service offerings and client-first approach make it a top choice for those seeking expert financial guidance.
For more detailed information about Edelman Financial Engines and its services, you can visit their official website here.
Edelman Financial Engines Quick Facts
Years in business: 37
Assets Under Management (AUM): $245 billion
Minimum account size: $5,000
Fees: 1.75% — 0.5%
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Find a Top Financial Advisor Today
1. Finding a financial advisor doesn’t have to be hard. WiserAdvisor’s free tool matches you with up to 3 financial advisors in less than 5 minutes.
2. Each advisor has been vetted by WiserAdvisor and is held to a fiduciary standard to act in your best interests. Get on the path toward achieving your financial goals.
Click here to get matched with a financial advisor in the Washington DC area today.
#4. Glassman Wealth Services
Glassman Wealth Services, a distinguished name in the financial advisory sector, has earned a reputation for enriching the lives of its clients through transparent and personalized financial services. Based in the Washington DC metro area, Glassman Wealth Services has been recognized for its exceptional workplace culture and its commitment to client satisfaction.
Awards and Recognitions
Glassman Wealth Services has garnered significant recognition for its outstanding work environment and service excellence. They have been acknowledged by the Washington Business Journal as one of the Best Places to Work. This recognition is a testament to their commitment not only to their clients but also to their team members, fostering a culture of transparency and growth.
The firm has also been named by Washingtonian Magazine as one of the 50 Great Places to Work, highlighting their emphasis on offering interesting work, competitive pay and benefits, opportunities for growth, and a balanced approach to work/life. This accolade speaks volumes about their internal culture and how it translates to better service for their clients.
In addition to these honors, Barry Glassman, founder of the advisory firm, was named the 2018 Planner of the Year by the Financial Planning Association of the National Capital Area, showcasing the expertise and dedication present within the team.
Further, Glassman Wealth Services has been recognized by Inc. Magazine as one of the Best Workplaces, reflecting their continuous efforts to create an enriching and supportive environment for their employees.
Client-Centric Approach
Glassman Wealth Services is known for its client-centric approach, focusing on delivering tailored financial advice and strategies that align with the unique goals and needs of each client.
This approach has led them to be named one of AdvisoryHQ’s “10 Best Financial Advisors in D.C., Maryland, & Virginia (Tri-State).”
Glassman Wealth Services stands out for its commitment to both client satisfaction and employee welfare. Their array of recognitions and awards underscores their excellence in the financial advisory domain and their dedication to creating a positive impact on the lives of both their clients and team members.
For more detailed information about Glassman Wealth Services and their achievements, you can visit their official website here.
Glassman Wealth — Quick Facts
Years in business: 15
Assets Under Management (AUM): $1.75 billion
Minimum account size: $2 million
Fees: 1.0% — .25%
Get matched with a financial advisor in DC — based on your specific needs.
#5. Illumint: Tailored Financial Planning for Millennials
Overview
Illumint, founded and led by Kevin Mahoney, CFP®, specializes in offering comprehensive financial planning services specifically tailored to the needs of Millennial couples and families.
Based in Washington, D.C., Illumint operates virtually to serve clients across the country. The firm’s focus is on helping its clients navigate critical financial decisions such as student loan repayment, home buying, and investment savings.
Unique Approach to Financial Planning
Illumint’s approach is distinct in its specialization in financial planning for Millennials. This focus reflects in their strategies, such as advising on 529 plans for education savings and balancing competing financial goals like retirement planning and real estate investments.
Mahoney’s personal experiences as a Millennial parent heavily influence the firm’s philosophy, addressing unique challenges and opportunities faced by this generation.
Recognition and Accolades
Kevin Mahoney has been recognized for his expertise and contributions to the field of financial planning.
He has received several awards, including being named as one of the “best financial advisors for millennials” by Business Insider, part of the “40 Under 40” Class of 2021 by InvestmentNews, and listed as a “Top 100 Financial Advisor in the U.S.” by Investopedia.
Additionally, he has been acknowledged by the Washington City Paper and Washingtonian for his exceptional services in money management.
Media Contributions and Educational Outreach
Kevin Mahoney is actively involved in educating and empowering the Millennial generation about personal finance. He has been featured in various national publications, including the New York Times, Wall Street Journal, Washington Post, Newsweek, Time, and CNBC.
Furthermore, he contributes to outlets like Yahoo! Finance, Fatherly, Kiplinger, and Forbes, offering insights into financial matters relevant to Millennials.
Professional Background and Credentials
Mahoney holds an undergraduate business degree from Georgetown University and an MBA in finance from Georgia Tech. He is a Certified Financial Planner™ and a fiduciary, ensuring that his clients’ interests are at the forefront of his advisory services.
Services Offered
Illumint provides a range of financial planning services, including college financial planning, investment management, and retirement planning. The firm’s approach is marked by flexibility, allowing clients to plan and save in ways that align with their lifestyle and family goals.
Illumint stands out for its dedicated focus on serving the financial needs of the Millennial generation. Kevin Mahoney’s expertise, combined with the firm’s innovative approach to financial planning, makes it a noteworthy choice for young families and professionals seeking tailored financial guidance.
For more information about Illumint and its services, you can visit their official website.
Illumint — Quick Facts
Years in business: 7
Assets Under Management (AUM): Not listed online
Minimum account size: No account minimum
Fees: Flat annual fee
Click here to get matched with a financial advisor in DC.
Find a Vetted Washington DC Financial Advisor Today
1. Finding a financial advisor doesn’t have to be hard. WiserAdvisor’s free tool matches you with up to 3 financial advisors in less than 5 minutes.
2. Each advisor has been vetted by WiserAdvisor and is held to a fiduciary standard to act in your best interests. Get on the path toward achieving your financial goals.
Click here to get started on Wiser Advisor today.
How to Choose a Financial Advisor: A Comprehensive Guide
Choosing the right financial advisor is a crucial decision that can significantly impact your financial well-being. Here’s a comprehensive guide to help you make an informed choice:
Identify Your Financial Needs
Define Your Goals: Understand what you want to achieve — be it retirement planning, wealth management, tax strategies, or estate planning.
Assess Your Financial Situation: Evaluate your current financial status, including assets, liabilities, income, and expenses.
Credentials and Experience
Look for Qualifications: Certifications like CFP (Certified Financial Planner) or CFA (Chartered Financial Analyst) indicate a level of expertise.
Check Their Experience: Consider how long they have been in the industry and their track record with clients having similar needs as yours.
Fee Structure and Transparency
Understand How They are Paid: Advisors can be fee-only, commission-based, or a combination. Fee-only advisors are often considered more unbiased.
Ask for a Clear Fee Schedule: Ensure you understand how much you will be charged and for what services.
Investment Philosophy
Alignment with Your Risk Tolerance: Ensure the advisor’s investment strategies align with your risk tolerance and financial goals.
Diversity of Strategies: A good advisor should offer a range of strategies and not just focus on one type of investment.
Personalized Service and Communication
Expect Regular Updates: A good advisor should communicate regularly and be accessible for queries or discussions.
Check for Personalization: Your financial plan should be customized to your specific needs, not a one-size-fits-all approach.
References and Reviews
Ask for References: Speaking to current or past clients can provide insights into the advisor’s effectiveness and client service.
Online Reviews and Complaints: Check online for reviews or any regulatory complaints against the advisor or their firm.
7. Compatibility and Trust
Assess Your Comfort Level: You should feel comfortable sharing personal financial details with your advisor.
Trust Your Instincts: Trust is crucial in a financial advisory relationship. If something doesn’t feel right, it’s okay to look elsewhere.
8. Additional Services
Look Beyond Investments: Some advisors offer comprehensive planning services including tax advice, estate planning, and insurance.
9. Regulatory Compliance and Background Check
Verify Licenses and Registrations: Check their registration with regulatory bodies like the SEC or FINRA.
Background Check: Look into their professional history for any disciplinary actions or conflicts of interest.
Find Free Online Tools: Companies like Wiser Advisor provide a quick questionnaire that matches you with a top vetted local advisor.
Ongoing Education and Resources
Commitment to Learning: A good advisor stays updated with the latest financial trends and regulations.
Educational Resources: Some advisors provide resources or tools to help you understand your financial situation better.
Selecting the right financial advisor involves careful consideration of several factors. It’s essential to take the time to research and choose someone who aligns with your financial goals, has the necessary credentials, and whom you can trust to guide your financial journey.
Remember, the right financial advisor can be a valuable partner in achieving your financial goals and securing your financial future.
Find a Vetted Washington DC Financial Advisor
1. Finding a financial advisor doesn’t have to be hard. WiserAdvisor’s free tool matches you with up to 3 financial advisors in less than 5 minutes.
2. Each advisor has been vetted by WiserAdvisor and is held to a fiduciary standard to act in your best interests. Get on the path toward achieving your financial goals.
Click here to get matched with a financial advisor in the Washington DC area today.
