Finding a Top Financial Advisor Firm in Annapolis, Maryland
There are so many financial advisors out there and thousands in the Washington D.C./Philadelphia region alone. To help you narrow the field, we pulled the firms headquartered in Annapolis, Maryland, and collected such fundamentals as their assets under management (AUM), fee basis and investment strategy. Then we put all the info together, here, for convenient comparing and contrasting. Start your search with this list and then use SmartAsset’s free financial advisor matching tool to connect with up to three vetted advisors who serve your area.
Find a Fiduciary Financial Advisor
We match more than 50,000 people with financial advisors per month. Get connected to an advisor that serves your area today.Rank | Financial Advisor | Assets Managed | Minimum Assets | Financial Services | More Information |
---|---|---|---|---|---|
1 | Scarborough Capital Management Find an Advisor | $987,098,118 | No set account minimum |
| Minimum AssetsNo set account minimumFinancial Services
|
2 | Bay Point Wealth Find an Advisor | $624,854,859 | No set account minimum |
| Minimum AssetsNo set account minimumFinancial Services
|
3 | Marks Wealth Management Find an Advisor | $344,159,661 | No set account minimum |
| Minimum AssetsNo set account minimumFinancial Services
|
4 | 1 North Wealth Services, LLC Find an Advisor | $243,118,884 | $500,000 |
| Minimum Assets$500,000Financial Services
|
5 | Accordant Advisory Group, Inc. Find an Advisor | $204,194,058 | $10,000 |
| Minimum Assets$10,000Financial Services
|
6 | Chesapeake Financial Planning Find an Advisor | $153,713,413 | Varies based on account type |
| Minimum AssetsVaries based on account typeFinancial Services
|
7 | The Ellerson Group Inc Find an Advisor | $202,090,885 | $1 million |
| Minimum Assets$1 millionFinancial Services
|
8 | ValueWealth Services, LLC Find an Advisor | $161,145,674 | No set account minimum |
| Minimum AssetsNo set account minimumFinancial Services
|
9 | RCS Financial Planning, LLC Find an Advisor | $161,849,096 | No set account minimum |
| Minimum AssetsNo set account minimumFinancial Services
|
10 | HF Advisory Group Find an Advisor | $135,566,347 | No set account minimum |
| Minimum AssetsNo set account minimumFinancial Services
|
What We Use in Our Methodology
To find the top financial advisors in Annapolis, we first identified all firms registered with the SEC in the city. Next, we filtered out firms that don't offer financial planning services, those that don't serve primarily individual clients and those that have disclosures on their record. The qualifying firms were then ranked according to the following criteria:
- AUMFirms with more total assets under management are ranked higher.
- Individual Client CountFirms who serve more individual clients (as opposed to institutional clients) are ranked higher.
- Clients Per AdvisorFirms with a lower ratio of clients per financial advisor are ranked higher.
- Age of FirmFirms that have been in business longer are ranked higher.
All information is obtained through public records and is updated annually after the firms’ form ADV filing. This list may include firms that have a business relationship with SmartAsset, in which SmartAsset is compensated for lead referrals. Such relationships have no impact on our rankings, and firms are included and ranked based strictly on the above criteria. SmartAsset is not a client of the aforementioned firms, and did not receive compensation for including any of the firms on the aforementioned list.
Scarborough Capital Management
Scarborough Capital Management is a fee-based firm that serves both non-high-net-worth and high-net-worth invidividuals.
The advisor team holds multiple certifications, including:
- chartered retirement planning consultants (CRPCs)
- certified financial planners (CFPs)
- chartered mutual fund counselor (CMFC)
- certified college planning specialist (CCPS)
- retirement income certified professional (RICP)
- accredited investment fiduciary (AIF)
- chartered federal employees benefits consultant (ChFEBC).
Many of its advisors are also brokers and licensed insurance agents who can earn commissions on certain transactions, which can present a conflict of interest. Despite being a fee-based, Scarborough Capital advisors must act in the best interest of its clients.
Scarborough acts as a sub-adviser to Retirement Management Systems, which offers advice to plan participants regarding their employer-sponsored plans. The firm does not impose an account minimum.
Scarborough Capital Management Background
Scarborough Capital began in 1989 as The Scarborough Group, Inc., and changed its name in 2008. Five years later, five advisors — Ryan Ansted, Ian Arrowsmith, Gregory Ostrowski, James Sprinkel and Shawn Walker — bought the firm. They’re all still equal partners and work as advisors at the firm.
The practice offers discretionary investment management services, financial planning, consulting services and educational seminars. It also provides 401(k) and 403(b) plan management as a sub-advisor to Retirement Management Systems Inc.
Scarborough Capital Management Investment Strategy
The firm seeks to optimize portfolios for return and risk by using the principles of asset allocation and diversification. In designing client portfolios, advisors utilize model portfolios provided by an independent third-party research company. The models, which range from conservative to aggressive, are guidelines, and advisors may deviate from them — or not use them at all.
Investments may include mutual funds, stocks and cash holdings. The firm uses both long-term purchases (buying securities and holding them for at least a year) and short-term purchases (buying securities with the intent to sell them within a year).
Bay Point Wealth
Bay Point Wealth is the second highest-rated firm in Annapolis. While based in the state capital, Bay Point Wealth also has offices in Columbia, Maryland, Asheville, North Carolina, and Sarasota, Florida.
The Annapolis team holds multiple certifications, including:
- certified financial planner (CFP)
- certified public accountant (CPA)
- chartered financial analyst (CFA)
- Certified public wealth advisor (CPWA)
- Accredited financial counselor (AFC)
- Financial paraplanner qualified professional (FPQP)
The fee-based firm works mostly with high-net-worth and non-high-net-worth individuals. It also offers its services to pension and profit-sharing plans.
Bay Point Wealth does not have a minimum fee or asset requirement.
Bay Point Wealth Background
William Hufnell founded the firm in 1995. Hufnell is a principal owner of business with James Kantowski and Lyn Dippel.
Bay Point Wealth provides asset management on a discretionary basis, meaning its advisors make all the buying and selling decisions for a client’s portfolio. It also offers financial planning and advice not related to securities, such as estate planning.
Bay Point Wealth Investment Strategy
The firm generally allocates client assets to no-load mutual funds and exchange-traded funds (ETFs), typically using discount brokers. It also invests in individual equities and individual bonds. When evaluating securities, it will apply charting, fundamental, technical and cyclical methods of analysis. It notes that it does not participate in initial public offerings (IPOs).
Bay Point Wealth strives to minimize costs and taxes that may otherwise eat into clients' returns. The firm will also rebalance portfolios according to clients' individual needs and investment objectives.
Marks Wealth Management
Marks Wealth Management (MWM), a fee-only firm, works with non-high-net-worth individuals.
There is no set account minimum for new clients and advisory fees are based on a percentage of a client's assets under management.
Marks Wealth Management Background
Founded in 2020, MWM is the youngest first on our list. Charles Marks, the firm's CEO and managing director, was recognized by Forbes Magazine as one of Maryland's Best-In-State Wealth Advisors in 2019 and 2020.
In addition to asset management, MWM offers a variety of financial planning services, including:
- Business planning
- Cash flow forecasting
- Trust and estate planning
- Financial reporting
- Investment consulting
- Insurance planning
- Retirement planning
- Risk management
- Charitable giving
- Education planning
- Tax planning
Marks Wealth Management Investment Strategy
Like many other firms, MWM manages accounts on a discretionary basis. The firm creates custom portfolios that primarily allocate assets among various exchange-traded funds (ETFs), mutual funds and individual debt and equity securities.
MWM tailors its services to the needs of individual clients, taking into consideration a person's time horizon, risk tolerance, liquidity constraints and investment objectives. Investment decisions are often made using both fundamental and technical research.
1 North Wealth Services, LLC
1 North Wealth Services (1NWS) is a fee-only firm. The advisory team holds muliple certifications, including the certified financial planner (CFP), certified fundraising executive (CFRE) and chartered advisor in philanthropy (CAP) designations.
Most individual clients do not have a high net worth, but many do. 1NWS also serves corporations and charities.
The firm sets the minimum for investment accounts at $500,000, though it may waive the requirement at its discretion.
1 North Wealth Services Background
The firm first registered in Maryland in 1992. Information is not available about its founder. The current owner, CEO James Brennan, bought the firm in 2018 and remains its sole owner.
The primary business of 1NWS is providing investment advice and discretionary asset management services. It also offers financial planning on an hourly or fixed-fee basis, covering topics that include:
- Retirement planning
- Tax planning and strategy
- Risk assessment
- Cash flow analysis
- Education funding
- Life transition planning
- Pension planning
- Charitable giving
- Divorce
- Business succession
1 North Wealth Services Investment Strategy
Depending on the client’s profile and goals, 1NWS generally applies a blend of the following investment strategies:
- Capital Preservation Strategy: Used to preserve capital while earning a higher return than cash
- Total Return Strategy: Assets are invested in fixed income instruments such as corporate bonds, mortgage-backed bonds, municipal bonds, as well as mutual funds and exchange-traded funds (ETFs). This strategy may also include the purchase of high dividend-paying stocks, preferred stock and shares of master limited partnerships (MLPs)
- Growth Strategy: Money is invested in assets whose returns come mostly from market appreciation, such as individual stocks and stock or bond mutual funds/ETFs
- Alternative Strategy: This strategy may invest in mutual funds and ETFs that hold long/short equity or bond positions, precious metals, commodities and real estate
- Sustainable investing strategy: This strategy is built to incorporate ESG investments
In choosing securities, 1NWS primarily uses fundamental analysis and to a lesser extent, technical analysis.
Accordant Advisory Group, Inc.
Chesapeake Financial Planning
Chesapeake Financial Planning is a fee-based firm that works with both high-net-worth and non-high-net-worth individuals, as well as corporations.
Fees are generally based on a percentage of assets under management. However, Chesapeake advisors earn commissions as brokers and/or insurance agents. This is a potential conflict of interest, but it shoul dbe noted that advisors must act in the best interest of the client as fiduciaries.
The minimum account size is either $50,000 or $100,000, depending on which program you are enrolled in.
Chesapeake Financial Planning Background
Founded in 1990, Chesapeake is currently owned by Elizabeth Bennett, the firm's sole certified financial planner. Bennett, who has worked in the financial services industry since 1991, joined Chesapeake in 2014. The firm was registered in Maryland until 2019 when it registered with the SEC.
Services offered at Chesapeake include asset management, financial planning, financial consulting and educational seminars.
Chesapeake Financial Planning Investment Strategy
Fundamental and technical methods of analysis are at the heart of the investment strategy at Chesapeake. According to the latest SEC filing, 100% of client money is invested in securities issued by registered investment companies such as mutual funds or business development companies. Client assets are primarily invested in open-ended mutual funds, including no-load and load-waived funds, as well as exchange-traded funds (ETFs).
Chesapeake uses asset allocation and financial planning software, including E-Money and Morningstar Advisor Workstation, to assess clients' needs and develop customized plans for them.
The Ellerson Group Inc
The Ellerson Group is a fee-only firm that works with both non-high-net-worth and high-net-worth individuals.
Fees for asset management are based on a percentage of assets under management, while financial planning services are charged hourly.
The Ellerson Group imposes a minimum account size of $1 million, though it may waive that requirement.
The Ellerson Group Background
James Ellerson founded the firm in 1995 after working for 13 years at another firm as an investment advisory representative. He is the sole owner of the business.
According to the one-page brochure the firm filed with the SEC, The Ellerson Group offers investment management services, as well as financial planning and consulting services that include:
- Estate planning
- Tax planning
- Retirement plan support
- College savings plans
- Philanthropic planning
- Executive compensation monitoring
- Insider stock sales management
The Ellerson Group Investment Strategy
Again, the firm filed a one-page brochure with the SEC, so not a lot of information is publicly available about its investing strategies. It seems to have a conservative focus based on a description of its equity strategy on its website. The practice also states that it invests its fixed income portfolios, primarily in individual bonds, certificates of deposit, income stocks and income mutual funds.
ValueWealth Services, LLC
ValueWealth is a fee-based firm that serves both high-net-worth and non-high-net-worth individuals. There are no institutional clients at the firm.
Some advisors are registered as broker-dealers and/or insurance agents, meaning they could earn commissions. This is a conflict of interest, but all must act in the best interest of the client when serving as an advisor.
Fees for investment management services are based on a percentage of assets under management, while financial planning fees are charged either hourly or at a flat rate. The firm doesn't impose an account minimum.
ValueWealth Background
ValueWealth Investment Strategy
RCS Financial Planning, LLC
RCS Financial Planning is a fee-only firm that has a team with multiple certifications, including the certified financial planner (CFP) and chartered financial analyst (CFA) designations.
With no minimum requirement to open an investment account, the firm serves far more individuals who do not have a high net worth than those who do. It also works with pension and profit-sharing plans.
RCS Financial Planning Background
RCS Financial was formed in 2017 and received its SEC registration the following year. It is solely owned by president Ted Toal, a certified financial planner with over 20 years experience in the financial services industry.
The boutique practice provides discretionary portfolio management services. It also offers financial planning, selection of other advisors and pension consulting services. RCS Financial additionally works with clients on their life insurance needs, tax concerns, retirement planning, college planning and debit/credit planning.
RCS Financial Planning Investment Strategy
The firm centers its strategy on Modern Portfolio Theory, a philosophy that seeks maximum returns for a given amount risk. Advisors at RCS Financial generally use long-term trading strategies.
According to the most recent SEC data, assets under RCS Financial’s management were mostly (96%) allocated to securities issued by registered investment companies (such as mutual funds) or business development companies. Stocks and cash holdings are also used.
HF Advisory Group
HF Advisory Group is a fee-based firm which works almost exclusively with individuals, most of whom are not high-net-worth. The only institutional clients are corporations.
The team includes one certified financial planner (CFP).
Portfolio management fees are based on a percentage of assets under management. Financial planning fees can be charted at a fixed rate or hourly.
HF Advisory Group Background
The firm was founded in 2009 and is principally owned by Raymond Hobson.
Services include investment strategy, portfolio management, asset allocation, risk tolerance, financial planning, retirement planning and college planning.
HF Advisory Group Investment Strategy
Investments at the firm are mostly split between individual stocks and RIA assets like mutual funds and ETFs. The rest is split between bonds and cash holdings.