The Top 10 Financial Advisors in Iowa

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Iowa’s top-rated financial advisor, Foster Group, is located in West Des Moines. The firm, which has more assets under management than any other advisor on our list, works with individuals and high-net-worth individuals, as well as trusts, estates, corporations and business entities. 

As a fee-only advisor, Foster Group's management fee is based on a percentage of a client's assets with the firm. The annual fee (charged quarterly) hinges on the type of account the client has and the total value of their assets with Foster Group. Individuals with up to $1 million under management pay either .85% or 1%, depending on their account type, but that fee could be higher or lower. 

The firm does not require a minimum investment, however, clients with SignatureWealth accounts will pay a higher fee if they have less than $500,000 under management. Clients of the firm’s CoreWealth services will pay a higher annual fee if their assets total less than $141,176. 

Foster Group Background

Founded in 1989 by Jerry Foster, the firm was originally known as Retirement & Investment Advisors, Inc. It has operated as an investment advisory firm since 1991. Foster Group provides financial planning, portfolio management and pension consulting services.

While headquartered in Iowa, Foster Group also has a regional office in Omaha, Nebraska. An 18-person ownership team serves as the firm’s shareholders. Foster Group’s team of advisors maintains the following accreditations:

• Certified financial planner
• Accredited investment fiduciary
• Certified kingdom advisor
• Certified private wealth advisor
• Certified public accountant
• Chartered advisor in philanthropy
• Certified investment management analyst
• Chartered financial consultant

Foster Group Investment Strategy

Foster Group’s investment strategy is primarily built on fundamental analysis and modern portfolio theory, which is the process of reducing risk through systematic diversification. The firm typically recommends low-cost mutual funds and exchange-traded funds and usually avoids investing in individual stocks and bonds, but certain exceptions can be made. Foster Group assumes a long-term approach to its clients’ investments. 

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Based in Dubuque, Steele Capital Management is Iowa’s second-highest-rated financial advisor. The company, which also has an office in West Des Moines, has the second-biggest number of assets under management on our list. Its advisors work with individuals, high-net-worth individuals, pensions and profit-sharing plans, charitable organizations, as well as corporations and other businesses. Steele Capital Management does not have a minimum required account size. 

Clients are charged an annual advisory fee of up to 1.5% of their assets under management. However, some of the firm’s advisors who sell insurance independent of Steele Capital Management may collect commissions on the sale of products to clients. While this qualifies Steele Capital Management as a fee-based firm, it’s important to note that the company is considered a fiduciary, whose advisors must act in their clients’ best interests.

Steele Capital Management’s staff includes four certified financial planners, three certified public accountants, three chartered mutual fund counselors and one certified retirement counselor and a chartered financial analyst. 

Steele Capital Management Background

Steele Capital Management has been in business since 1995, when Mike Steele founded the firm. Steele, a financial advisor for over 30 years, is still the majority owner of the company and serves as its CEO. The ownership team also includes: 

• Kathryn Moran, chief financial officer/chief compliance officer
• Brett Wessels, chief investment officer
• Bradley Lewis, senior portfolio manager
• Nick Smith, senior portfolio manager
• Chris Boxleiter, director of company-sponsored retirement plans 

Steele Capital Management Investment Strategy

Steele Capital Management typically recommends long-term investments when consulting a client about their portfolio. Together, the advisor and client develop a portfolio based on the client's investment objectives, recommended investments and appropriate asset allocation. The firm seeks well-performing mutual funds, exchange-traded funds and other securities in each asset class it taps.

Once investments are selected, Steele Capital Management monitors those investments, at least quarterly, to ensure their performance. The firm also periodically rebalances portfolios to realign them with their original asset allocation. 

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Based in West Des Moines, Gilbert & Cook is the third-highest-rated advisor in Iowa. The firm, which requires an account minimum of $1 million, works with individuals, high-net-worth individuals, trusts, estates and charitable organizations, pensions and profit-sharing plans, as well as corporations and businesses. 

Annual fees for advisory services vary, but fees for retirement planning consulting may not exceed 1% of assets under management. Fees for the firm’s Alliance Program can reach 1.95% of assets under management. While a fiduciary, Gilbert & Cook is also considered a fee-based advisor whose employees include insurance agents and one broker/deal representative. As a result they may charge commissions for products sold to clients.  

The firm employs nine certified financial planners, three chartered financial analysts, three certified divorce financial analysts, one certified public accountant. Staff members hold various other certifications.

Gilbert & Cook Background

Founded in 1994, Gilbert & Cook offers financial planning, portfolio management and selection of other advisors. The firm is owned by Linda Lundstrom Cook, Christopher Cook, Marlis Gilbert, Brandon Grimm, Megan Rosenstiel and Jerit Tripp. 

Gilbert & Cook Investment Strategy

The firm manages its clients’ accounts using both active and passive strategies and bases individual investment decisions on the client’s investment objectives, risk tolerance and time horizon. The firm builds portfolios using individual stocks and bonds, mutual funds and exchange-traded funds, real estate investment trusts and business development companies, long-term assets, short-term assets and options, among others.

To select investments, Gilbert & Cook Advisors use a variety of analyses, including macroeconomic, client household global allocation, asset class correlation and fundamental. 

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Legacy Financial Group, a fee-based firm in Des Moines, works with individuals and high-net-worth individuals, trusts, estates and charitable organizations. The firm’s clients also include pensions and profit-sharing funds, as well as corporations and other business entities. Legacy Financial Group does not impose an account minimum. 

In addition to an asset management fee of up to 1.5% of assets under management, Legacy Financial Group advisors can collect commissions on the sale of certain products or services, creating a potential conflict of interest. However, Legacy Financial Group notes that it is a fiduciary advisor and must act solely in the client’s best interest. 

The firm’s team of advisors includes three certified financial planners, one certified investment fiduciary, an accredited asset management specialist and a chartered mutual fund counselor. 

Legacy Financial Group Background

Founded in 2010, Legacy Financial Group came under the sole ownership of William Elson and Brian Hood in 2017. Longtime friends and colleagues, Elson and Hood started their careers in the financial industry on the same day in 1988 at the same firm. In January 2020, Rachel Wood became a partner at Legacy Financial Group. Wood, whose career in the industry began in 2002, joined the firm in 2005. 

Legacy Financial Group offers the following services:

• Financial planning
• Portfolio management
• Selection of other advisors
• Educational seminars/workshops

Legacy Financial Group Investment Strategy

Legacy Financial Group primarily employs a long-term investment strategy with a focus on buying and holding securities for at least one year. “Generally, this strategy is not influenced by short-term market fluctuations because the approach rests upon the assumption that long-term prices will go up because of an expanding economy with profits, dividends and increased stock prices,” the firm states in its Form ADV brochure.

However, portfolios may include short-term purchases, options and structured notes, which seek to reduce risk within a portfolio. Advisors may use fundamental analysis, which measures the intrinsic value of a security by examining economic, financial and other factors. 

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World Trend Financial Planning Services employs four certified financial planners and one certified public accountant who also is a chartered global management accountant. While the firm does not impose an account minimum, it charges an asset management fee of up to 1% on accounts with $2 million or less. The fee is negotiable for accounts that exceed $2 million. 

The firm works with individuals, high-net-worth individuals, trusts, estates and charitable organizations, as well as corporations and business entities. Because representatives of the firm are registered to sell securities and can collect commissions, World Trend Financial Planning Services is considered a fee-based advisor. However, the firm is a fiduciary and must act solely in the best interests of its clients. 

World Trend Financial Planning Services Background

Founded in 1991, World Trend Financial Planning Services is currently owned by Timothy Terry, Tory Meiborg, Bradley Haverback, Donna Sanders and Robert Myers -- all of whom remain on staff. Based in Cedar Rapids, the firm focuses its services on financial planning and asset management. World Trend Financial Planning Services also has an office in Iowa City. 

World Trend Financial Planning Services Investment Strategy

The firm typically pursues passive asset class investments with limited turnover and aims to hold those investments for over a year (long-term purchases). Mutual funds are the security most commonly used by the firm. Their selection is based on the experience and track record of the fund manager, but fees and internal expenses also factor into whether a mutual fund belongs in a particular client’s portfolio.

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Private Wealth Asset Management is a fee-based advisory firm offering services of portfolio management, investment analysis and financial planning. As a fee-based advisory firm, its advisors may earn commissions on the sale of certain securities. This could create a potential conflict of interest but the firm and its advisors are bound by a fiduciary duty to protect the needs and desires of its clients. 

The firm works with individuals, high-net-worth individuals, family offices, trusts, estates, institutions, corporations, philanthropic organizations, other non-profits and other types of business entities. 

There is no set account minimum.

Private Wealth Asset Management Background

The firm was founded in 2021 by Heather Fortune Vestweber, Dave Arens, Chris Casey, Brett Halley and David Holtorf. The firm now boasts 15 advisors and more than $600 million in assets under management. The team holds designations such as a chartered financial analyst (CFA), certified trust and financial advisor (CTFA), certified professional landman (CPL), certified financial planner (CFP) and certified investment management analyst (CIMA). 

Private Wealth Asset Management Investment Strategy

Private Wealth has adopted a core-satellite investing methodology. This involves indexed exposure across the most efficient asset classes, such as stocks and bonds, that make up the majority of the client portfolio. The satellites are investments in other asset classes that match the goals of the client. Some examples of satellite investments include private capital, pre-IPO companies and active managers. 

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Syverson Strege is a fee-only financial advisor based in West Des Moines, meaning it only charges clients a percentage of their assets under management and never collects commissions. The firm also boasts the lowest client-to-advisor ratio of any company on this list, helping make it the third-highest-rated financial advisor in Iowa. 

Management fees and account minimums vary depending on the type of account a client has with the firm. Syverson Strege clients include individuals, pensions and profit-sharing plans, charitable organizations, corporations and businesses. However, the majority of assets the firm manages comes from high-net-worth individuals.

Advisors maintain the following accreditations:

• Certified financial planner
• Accredited estate planner
• Chartered advisor in philanthropy
• Chartered financial analyst
• Certified kingdom advisor
• Certified exit planning advisor
• Chartered advisor for senior living 

Syverson Strege Background

Johnne Syverson and David Strege founded the firm in 1997 after first working together as financial planners in 1989. Strege is a majority owner of Values Based Holding Corporation, which owns Syverson Strege. Today, both Syverson and Strege work as senior financial planners, with Strege also serving as the company’s chief compliance officer. They lead a team of advisors that includes three members of the National Association of Personal Financial Planners. Syverson Strege offers financial planning and portfolio management, and it and can help clients select other advisors. 

Syverson Strege Investment Strategy

Syverson Strege tailors its personalized investment strategies to a client’s income needs, liquidity requirements, time horizon, tax considerations, need for inflation protection, legal requirements and other factors. The firm can use computerized portfolio modeling to aid in the asset selection for some clients. An advisor may additionally use historical quantitative data to assess the probable risk of an asset or portfolio. 

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Located in Waverly, Accel Wealth Management imposes a $25,000 account minimum. While the vast majority of the company’s clients are individuals, more than half of the assets under the firm's management come from pensions or profit-sharing plans. Accel Wealth Management also works with high-net-worth individuals, as well as charitable organizations, trust and estates. 

The firm has two accredited investment fiduciaries on staff, as well as two retirement income certified professionals and two certified life underwriters. Its team of advisors also includes a certified pension consultant, one chartered financial consultant, a chartered retirement plan specialist and one certified financial planner. 

As a fee-based firm, Accel Wealth Management advisors may earn commissions on securities or other products they sell. However, as a fiduciary, the firm is required to act solely in its clients’ best interests. Investment management fees can reach up to 2.25% of a client’s assets under management. 

Accel Wealth Management Background

Established in 2016, the firm is owned by Accel Holdings, Inc., whose principals all own less than 25%. Managing partner Stacie Brass has over 25 years of experience in financial services. 

Accel Wealth Management, formerly known as Premier Advisors LLC, offers its clients:

• Financial planning
• Portfolio management
• Pension consulting services
• Selection of other advisors

Accel Wealth Management Investment Strategy

The firm’s investment strategies are typically geared for the long term, but sometimes include short-term investments and hedging techniques. Advisors usually recommend target asset mixes and regular rebalancing. In formulating an investment strategy for a client, Accel Wealth Management advisors will use fundamental analysis, long-term purchases, short-term purchases, options and structured notes. 

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Bradford Financial Center ranks next on the top 10 financial advisor list in Iowa. As a fee-based firm, certain advisors are licensed to sell insurance and investment products and could earn commissions on those transactions. The firm’s advisors have a fiduciary duty that requires them to act in the best interests of their clients.

The firm’s team of 17 advisors manages assets for more than 1,500 individuals and high-net-worth individuals. Annual management fees are assessed as a percentage of a client’s assets under management, ranging from 0.1% to 2%. 

Based in Clarion, Bradford requires a minimum account balance that ranges from $25,000 to $100,000. Its advisory team includes two certified financial planners, two accredited investment fiduciaries and one retirement plans specialist.

Bradford Financial Center Background

Founded in 1970, Bradford is one of the largest independent financial planning firms in the midwest. Chief executive officer James W. Tausz owns the whole company. He is also Bradford’s chief financial officer and chief compliance officer.

Bradford Financial Center Investment Strategy

The firm’s general investing philosophy focuses on identifying high return opportunities for investors while reducing risk. 

Bradford services include financial planning and portfolio management, as well as retirement planning, estate planning and asset allocation. 

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Basepoint Wealth is a fee-only firm with multiple offices across Iowa. The team in Cedar Rapids includes six certified financial planners (CFPs), three chartered financial consultants (ChFCs), three retirement income certified professionals (RICP) and one chartered life underwriter (CLU). Advisors can hold more than one financial certification.

The vast majority of clients are individuals without high net worth, though some do qualify as high-net-worth individuals. There are only a few institutional clients, which include charitable organizations, pension and profit-sharing plans and corporations.

Investment advisory fees are generally charged based on a percentage of assets under management, but some qualified clients may also pay performance fees. Financial planning fees are either charged at a fixed rate or billed hourly. While one advisor is a licensed insurance agent, he is not compensated for recommending products, unlike fee-based advisors.

There is no account minimum.

Basepoint Wealth Background

The firm was founded in 2017 and is owned and operated by Kathryn M. Wallace, William (Allen) Wallace, Bryan J. Knudson, Landis T. Wiley and Katherine E. Ortgies.

The firm's services include investment management, financial planning, consulting, investment planning, retirement planning, estate planning, personal savings and educational savings.

Basepoint Wealth Investment Strategy

Fundamental analysis is the main analytical frame used by advisors at the firm and long-term investments are the favored strategy. Most client assets are invested in mutual funds, with stocks, bonds and cash holdings also used.

Like many other firms, Basepoint Wealth tailors portfolios to its clients' investment goals and objectives, financial circumstances and risk tolerance. Clients can place reasonable restrictions on the types of investments that they hold in their portfolios.