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Find the Best Financial Advisors in Baltimore, MD

Baltimore residents often consult with a financial advisor to set long-term financial goals, invest and plan retirement. The Baltimore Sun has partnered with ConsumerAffairs to create this guide by comparing consumer reviews and local availability of 48 businesses and choosing six favorites from the top financial advisors in Baltimore.

Companies pay ConsumerAffairs to be accredited, and The Baltimore Sun and/or ConsumerAffairs may receive compensation when you click a link, call a number or fill out a form on this site.

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How to find a good financial advisor in Baltimore

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Financial planning services help Baltimore residents achieve their short- and long-term goals, whether that involves planning for retirement or saving for a child's college fund. Most financial advisory firms in Baltimore offer free initial consultations, giving local residents the opportunity to ask questions and find the advisor suited to them. During this meeting, discuss your finances and goals, as well as the firm's approach to wealth management, its fee structure and its credentials.

The Maryland Securities Division regulates financial planners, investment advisors and stockbrokers in Maryland. It recommends that consumers in Baltimore call the division to verify a financial advisor’s status and disciplinary history.

How much does a financial advisor cost in Baltimore?

Most financial advisors charge a percentage of the client’s assets under management— usually around 1%. Baltimore residents may also come across firms that charge an hourly rate, a flat rate, a performance-based fee, commission or by a combination of methods. Hourly rates generally range from $150 to $400 per hour. An example of a service that often uses a flat fee is creating a personalized financial plan, which might cost from $1,000 to $2,000.

By law, an investment advisor must provide you, a prospective client, with a brochure (called Part 2 of Form ADV) that explains the firm’s fee structure and any conflicts of interest. Make sure you understand the cost of services before you start working with a financial advisor in Baltimore.

What does a financial advisor do in Baltimore?

Financial advisors offer a wide range of services, many of which center on major life decisions like retirement or making investments. They help develop customized financial plans for clients’ short- and long-term goals. Here are the most common services provided by financial advisors in Baltimore:

  • Financial plans: All financial advisors offer some collection of planning services, whether it’s for retirement or other major life events. Plans include personalized strategies for clients to achieve both near-term and long-term goals.
  • Retirement plans: A financial advisor can help you set yourself up successfully for retirement by understanding the complete picture of all your assets, planning your income and offering investment advice. These services are available to both current workers and retirees.
  • Investments: Expert investment advice can dramatically increase the return on investment of a portfolio. Financial advisors can help you buy and sell stocks, bonds and other securities.

Baltimore financial advisors FAQ

How much do I need to retire?

As a rule of thumb, you want to have enough to live on 70% to 80% of your pre-retirement income. For example, if you retire making $100,000 per year, you should plan to have enough to live on $70,000 to $80,000 per year.

What is a fiduciary?

A fiduciary is someone who manages money or property for someone else and has the legal obligation to do so in the person’s best interest.

What is a financial advisor?

A financial advisor is a qualified professional who offers financial advice and services to clients. Examples of these services include managing investments, retirement planning and estate planning.

What is asset management?

Asset managers build and manage investment portfolios for their clients. This process can be as conservative or aggressive as the client sees fit.

What is financial planning?

Financial planning is the process of mapping out short- and long-term financial goals, including strategies for achieving those goals. Baltimore residents can purchase a financial plan as a stand-alone service, or they can work with an advisor on an ongoing basis.

Baltimore financial advisors company information

SmartAsset

SmartAsset is a free service for those interested in financial wellness, offering educational resources, tools and expert advice. Baltimore residents can find local financial advisors on SmartAsset’s website or gather information for a do-it-yourself approach to their finances. The company website covers a wide range of subjects, including everything from borrowing to homebuying to saving for retirement.

SmartAsset Learn More

Picket Fence Financial

Picket Fence Financial is a planning firm that is fee-only and never accepts commissions or compensation for the products it recommends. It offers most financial planning services, including retirement planning and investment management. Picket Fence Financial provides a free initial consultation. The company is located at 2012 Rock Spring Road, Ste. A, Forest Hill, MD 21050.

Picket Fence Financial

Compton Financial Group

Compton Financial Group helps working or retired clients with financial planning and wealth management, including investment management. It is a family-owned company with over 40 years in business. Compton Financial Group is located at 403 Allegheny Ave., Towson, MD 21204. Visit its website to watch a three-minute introductory video.

Compton Financial Group

Edward Jones

Edward Jones is a nationwide financial planning firm with local advisors in Baltimore. The company helps clients plan estates, retirement, intergenerational wealth transitions and more. Schedule a consultation with the local branch to see what services are right for you. The company has a location at 730 Frederick Road, Ste. 205, Catonsville, MD 21228.

Edward Jones

Baltimore-Washington Financial Advisors

Baltimore-Washington Financial Advisors is a wealth management firm that offers investment management, retirement planning, estate planning and tax services. The company is a fee-only firm and never takes commissions or compensation for any of the products it recommends. Request an appointment with a local financial advisor to start planning your financial future. The company is located at 5950 Symphony Woods Road, Ste. 600, Columbia, MD 21044.

Baltimore-Washington Financial Advisors

InvestEd

InvestEd is a fee-only registered investment advisor, offering financial planning, investment advising and free educational tools to help Baltimore residents make the most of their wealth. The company offers free initial consultations. InvestEd also offers educational events and webinars to help clients take control of their finances. The company is located at 345 N. Charles St., Baltimore, MD 21201.

InvestEd