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Best Financial Advisors in Buffalo, NY

Nov. 19, 2019, 10:57 p.m.

Whether you’re managing your wealth or planning for major life events, a financial advisor helps you make the most of your money. Our partners at ConsumerAffairs researched the best financial advisors in Buffalo to help you find the right financial planner to make your financial goals a reality.

Everyone deserves to make thoughtful, informed purchase decisions. The local guides provided on this website are free for consumers. WKBW may receive compensation from our partners. Learn more.

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#1
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Facet Wealth

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Facet Wealth
Facet Wealth
Features
  • Work with a dedicated CFP
  • Complimentary goal setting & financial analysis session
  • Goal-based financial planning
  • Get an individually tailored financial plan
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#2
Collins Advisors
Collins Advisors
Features
  • No minimum asset requirement
  • Fee-only
  • In-house managed accounts
  • Offers insurance planning & risk management
Location
610 Main St., Ste. 202
Buffalo, NY 14202
(716) 833-6338
#3
Mintco Financial
Mintco Financial
Features
  • Specializes in retirement & estate planning
  • Focus on wealth management
  • Fee-only
  • Services offered individually & as part of a comprehensive plan
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Location
4444 Main St.
Buffalo, NY 14226
(716) 565-1300
#4
Sanderson Wealth Management
Sanderson Wealth Management
Features
  • $500,000 minimum asset requirement
  • Proactive research & portfolio management
  • Open architecture
  • 100% employee owned
Location
50 Fountain Plz.
Buffalo, NY 14202
(716) 566-2420
Allaire Financial Strategies
Allaire Financial Strategies
Features
  • Hours unavailable
  • allairefinancial.com
Location
22 Wainwright Rd.
Buffalo, NY 14215
(716) 862-0500
Hudson Advisor Services
Hudson Advisor Services
Features
  • Hours unavailable
  • hudsonadvisorservices.com
Location
237 Main St.
Buffalo, NY 14203
(716) 803-6587
Pratt Collard Advisory Group
Pratt Collard Advisory Group
Features
  • Hours unavailable
  • pcbadvisory.com
Location
111 Genesee St., Ste. 403
Buffalo, NY 14203
(716) 566-9140
Winthrop Partners
Winthrop Partners
Features
  • Hours unavailable
  • winthroppartners.com
Location
835 Washington St., Ste. 118
Buffalo, NY 14203
(716) 322-7478
Courier Capital
Courier Capital
Features
  • M-F: 9am - 5pm
  • Closed Sat and Sun
  • couriercapital.com
Location
1114 Delaware Ave.
Buffalo, NY 14209
(716) 883-9595
Grenda Group
Grenda Group
Features
  • M-F: 9am - 5pm
  • Closed Sat and Sun
  • grendagroup.com
Location
2819 William St.
Buffalo, NY 14227
(716) 896-3232
Miller Gesko
Miller Gesko
Features
  • M-F: 8am - 5pm
  • Closed Sat and Sun
  • millergesko.com
Location
237 Main St., Ste. 600
Buffalo, NY 14203
(877) 852-7628

Choosing a financial advisor in Buffalo

buffalo skyline

Hiring a financial advisor is a solid step to ensure your future financial stability. A reputable, fiduciary financial planner helps you set goals, choose investments and make tough decisions.

People in Buffalo hire financial advisors at every stage of life. If you’re anticipating a significant life change like having children, marriage, divorce or retirement, the experience of a financial planner is invaluable.

As a general rule, investment advisors and financial planners who charge a percentage fee require a minimum portfolio value around $100,000. However, Buffalo residents with any amount saved can find a financial advisor willing to work with them.

Types of financial advisors

There are more options than ever before for securing your financial future, including multiple types of financial advisors. When searching for an advisor in Buffalo, first choose either:

  • Robo-Advisors: Robo-advisors are automated software platforms that make investment decisions based on complicated algorithms and user input. While robo-advisors only provide general financial advice, they are cheaper and more accessible than traditional advisors.
  • Human Advisors: Human advisors provide a more personal, tailored approach to asset management, whether you meet with them virtually or in person. Human advisors use their education and experience to handle complicated asset management tasks and provide custom financial advice.

Next, determine if your advisor is a fiduciary. A fiduciary is legally bound to act in your best interest, regardless of whether they stand to gain or lose money. This legal and ethical standard helps fiduciary advisors avoid conflicts of interest. For example, non-fiduciary advisors might recommend less-than-ideal investments that make them more commission and lose you money.

What is the cost of a financial advisor in Buffalo?

Expect to pay your financial advisor $100 - $200 per hour or a flat fee between $1,000 and $3,000 for a basic financial plan. If you need long-term asset management, investment advisors charge either 1 - 2 percent of your assets under management or a 3 - 6 percent commission on transactions.

Financial advisors who charge fees or hourly rates call themselves fee-only advisors. These professionals charge clients directly and don’t receive any commission on the products they recommend.

On the other hand, advisors who charge fees and receive a commission use the term fee-based. These people are less likely to be fiduciary advisors and may accept third-party compensation for the investments they sell you. This is why total transparency from your advisor is so critical.

What qualifications should a financial advisor have?

Fiduciary financial advisors in Buffalo should have a bachelor’s degree in a relevant field and some kind of additional designation, like being a Certified Financial Planner.

During the consultation with your financial planner, ask a few questions, such as:

  • What is your investment style?
  • Do you have any professional certifications?
  • Are you a fiduciary?
  • Do you have any disciplinary disclosures?
  • Are there any hidden fees?
  • How will we communicate?

While most financial advisors in Buffalo are trustworthy, watch out for scammers posing as legitimate advisors. To avoid scams, familiarize yourself with the most common pitfalls, like Ponzi schemes, affinity fraud and advisors who promise unrealistic returns. Research your advisor’s background using tools like BrokerCheck to confirm their credentials and reputation.

If you think you’ve encountered a scammer, file a complaint with the New York State Attorney General.

Facet Wealth

Facet Wealth VISIT FACET WEALTH

Operating out of Maryland, Facet Wealth is a hybrid firm that uses both robo-advisors and human advisors. The company assigns clients a dedicated financial planner to assist with all aspects of their financial planning, from retirement planning to asset management.

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Our partners independently research and analyze the companies mentioned in our guides and work with subject matter experts to add valuable information that helps consumers make smart purchase decisions. Our partners will not include companies on these guides that do not meet specific quality standards. The compensation we receive from our partners may impact how and where companies appear on our site, including the order in which they appear.

Our partners independently research companies, and use editorial discretion to award companies with special recognition (i.e. Best Value) based on their staff’s judgement or subject matter expert’s judgement. Our partners do this to help you identify companies that will meet your specific buying needs, and do not receive compensation for these designations.