The Top 10 Financial Advisors in Iowa

Find an Advisor

Avantax Planning Partners, a massive fee-based firm located in in Dubuque, leads off our list of the top-rated financial advisors in Iowa. Avantax Planning Partners (APP) caters to a diverse clientele, including individuals, high-net-worth individuals, businesses and corporations, retirement plans, as well as charitable organizations.

While there is no specified minimum for their asset management advisory services, you’ll need a minimum account value of $125,000 to participate in the Collateralized, Non-purpose Loan program that APP offers through third parties.

Certain financial planning services at Avantax Planning Partners are billed either on a fixed or hourly basis, as outlined in a written agreement with the client. When these services are part of the firm's asset management offerings, they are covered by a management fee that can be structured as a flat or tiered annual percentage of AUM.

However, the firm has a fee-based structure, which means APP advisors can receive additional compensation when recommending certain products and services. While this constitutes a conflict of interest, APP is a fiduciary and must act in its clients’ best interests.

Avantax Planning Partners Background

Avantax Planning Partners was founded in 1996. The firm is under corporate ownership, with its direct ownership held by Spirit Acquisitions, LLC. The ownership structure extends through several entities, ultimately leading to GC Three Holdings, Inc., which indirectly wholly owns the firm.

The firm offers a range of services tailored to meet diverse financial needs, including financial planning integrated with APP’s asset management services, as well as standalone financial planning services. The firm also provides retirement plan services, participant education and enrollment assistance.

Avantax Planning Partners Investment Strategy

The firm employs a variety of investment strategies, including active and passive management, asset allocation and tax overlay strategies. APP also utilizes leveraged investment strategies, such as margin, options and borrowing. Typical investments include equities like stocks, fixed income such as bonds and exchange-traded funds (ETFs).

When crafting investment plans, the firm considers each client's overall investment objectives, risk tolerance, time horizon, and any specific investment restrictions they may have. These factors guide the firm's approach to managing and adjusting portfolios to align with the client's financial goals and preferences.

Find an Advisor

Nations Financial Group is a fee-based advisory practice located in Cedar Rapids. The standard minimum account size for individual portfolio management services is set at $25,000, while third-party management services have varying minimums between $25,000 and $250,000, depending on the specific program and advisor.

Nations Financial Group works with individuals above and below the high-net-worth threshold, as well as pension and profit-sharing plans, trusts, estates, charitable organizations and various corporations or businesses.

The firm charges AUM fees and fixed fees for its services. However,  Nations Financial Group advisors can earn additional compensation for selling financial products and services in their separate capacities as sales representatives, which represents a conflict of interest. While advisors have a financial incentive to make certain recommendations over others, the firm has a fiduciary duty to act in its clients best interests.  

Nations Financial Group Background

Founded in 1999, Nations Financial Group is led by president and CEO Richard Scott Bennett. The ownership structure includes multiple stakeholders, with NFGI Holding Corporation as a direct owner and Richard Scott Bennett as an indirect owner.

The firm provides a range of services focused on individual needs, including financial situation analysis, income tax planning, insurance planning, investment planning, retirement planning and estate planning.

Nations Financial Group Investment Strategy

Nations Financial Group employs a strategic approach to asset allocation, guided by the principles of modern portfolio theory. Each client's portfolio is tailored to align with their specific investment objectives and overall financial condition. As market conditions evolve, the firm may adjust the asset allocation to ensure it remains in line with the client's goals and risk tolerance.

Portfolios typically hold a diverse range of assets, including exchange-listed and over-the-counter securities, foreign issuers, and warrants. Their investment options also encompass corporate debt securities, commercial paper, and certificates of deposit. Additionally, they offer investments in hedge funds, municipal securities, variable life insurance and variable annuities. The firm also deals in mutual fund shares, private equity and U.S. governmental securities. Options and futures contracts on both securities and commodities are available, along with investments in UITs, REITs, ETPs and cash.

Find an Advisor

Foster Group, located in West Des Moines, works with individuals and high-net-worth individuals, as well as charitable organizations, trusts, corporations and business entities. 

As a fee-only advisor, Foster Group and its advisors do not receive third-party compensation for selling financial products and services. Because they're compensated solely by the fees that advisory clients pay, Foster Group and other fee-only firms typically face fewer conflicts compared to fee-based firms. 

Foster Group’s team of advisors maintains the following accreditations:

• Certified Financial Planner™ (CFP®)
• Accredited investment fiduciary (AIF)
• Certified kingdom advisor (CKA)
• Certified private wealth advisor (CPWA)
• Certified public accountant (CPA)
• Chartered advisor in philanthropy (CAP)
• Certified divorce financial analyst (CDFA)
• Chartered financial consultant (ChFC)

Foster Group Background

Founded by Jerry Foster, the firm was originally known as Retirement & Investment Advisors, Inc. The firm has been an investment advisory practice 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 24-person ownership team serves as the firm’s shareholders. 

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. 

Find an Advisor

Based in Dubuque, Steele Capital Management is a fee-based firm that works 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 advisors who hold the Certified Financial Planner™ (CFP®), chartered financial consultant (ChFC) and certified public accountant (CPA) designations.

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 

The firm offers asset management, financial planning and retirement plan consulting services.

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 no-load 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. 

Find an Advisor

Investment Consulting Group (ICG) is a fee-only firm in Davenport. It works with individuals, including those with high net worths, as well as pension and profit-sharing plans, health and welfare plans, trusts, estates, charitable organizations and various corporations or business entities.

Typically, ICG sets a minimum account size of $500,000 for retail clients and 401(k) plans, and $1,000,000 for institutional clients, though these minimums can be waived at the firm's discretion.

The firm typically charges an asset-based fee for its services, but also offers fixed-fee arrangements. As a fee-only firm, ICG and its advisors do not sell third-party products and services for commissions. Instead, advisors are compensated solely through a salary and bonus structure.

Investment Consulting Group Background 

Investment Consulting Group was founded in 1990, making it the oldest firm on this list. Today, the firm is solely owned and managed by Donald R. Stanforth.

ICG offers comprehensive asset management services tailored to clients' financial goals, risk tolerance and personal circumstances. These services include investment objective setting, asset allocation, manager selection, performance evaluation and cost containment. ICG provides both non-discretionary and discretionary asset management, with discretion granted via a limited power of attorney.

Investment Consulting Group Investment Strategy 

ICG adopts a personalized approach to investment strategies, aligning them with each client's specific goals, investment objectives, risk tolerance and unique personal and financial situations. The firm emphasizes diversification as a key method to mitigate volatility and fluctuations in portfolio value. Typical investments include equity securities, warrants and rights, mutual funds, ETFs, and corporate debt obligations.

When crafting investment plans, the firm considers a variety of client characteristics, including personal financial circumstances, investment objectives, risk tolerance, cash-flow needs, tax and estate planning considerations. The firm also factors in the client’s age, time horizon, investment experience, and any specific investment restrictions or limitations they may have.

Find an Advisor

Based in West Des Moines, Gilbert & Cook is next on our list of the top 10 advisors 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. 

Gilbert & Cook charges a hourly or flat fee for fiancnial planning and consulting services. For asset management, the firm has a wrap fee program that bundles the fees associated with portfolio managemnet and trading into a consolidated fee. While a fiduciary, Gilbert & Cook is also considered a fee-based advisor whose employees include insurance agents. As a result they may receive sales commissions for products sold to clients. This is a conflict of interest. 

The firm has a number of credentialed professionals on staff, including advisors who hold the Certified Financial Planner™ (CFP®), chartered financial analyst (CFA), certified divorce financial analyst (CDFA), certified public accountant (CPA) designations, among others. 

Gilbert & Cook Background

Founded in 1994, Gilbert & Cook is owned by Linda Lundstrom Cook, Christopher Cook, Brandon Grimm, Megan Rosenstiel and Jerit Tripp. 

Gilbert & Cook offers comprehensive financial planning, retirement plan consulting, and investment advisory services tailored to individual and institutional clients. Their financial planning services encompass areas such as retirement and cash flow analysis, risk management, estate planning strategies and business transition planning, among others.

Retirement plan consulting focuses on assisting plan sponsors with investment policies, asset allocation and participant education while adhering to fiduciary standards under ERISA. Investment advisory services are personalized to clients' financial goals, risk tolerance and liquidity needs, often integrated with financial planning to create cohesive strategies. 

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, cyclical and fundamental. 

Find an Advisor

Located in Waverly, Accel Wealth Management primarily works with individuals below the high-net-worth. However, the firm also has high-net-worth individuals, retirement plans, corporations and business entities as clients, as well. Additionally, the firm works with charitable organizations and government entities. 

The firm employs several credentialed financial professionals who hold the following designations: accredited investment fiduciary (AIF), retirement income certified professional (RICP), certified life underwriter (CLU), Certified Financial Planner™ (CFP®), chartered financial consultant (ChFC), among others. 

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 decades of experience in financial services. 

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

• Financial planning, consulting and education services
• Portfolio management
• Pension consulting
• Selection of third-party money managers

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. 

Find an Advisor

Northwest Wealth Management (NWM) in Spencer is a fee-based financial advisory firm that primarily works with individuals below the high-net-worth threshold. The firm also serves high-net-worth individuals, retirement plans, charitable organizations, corporations and other business entities.

While there is no minimum account size requirement, the firm charges a $250 minimum quarterly fee for wealth management. In addition to the fees that advisory clients pay, advisors can receive third-party compensation for selling insurance products in their separate capacities as insurance agents. This is a conflict of interest, because advisors have a financial incentive to recommend insurance products to advisory clients. Yet, the firm has a fiduciary duty to always act in its clients’ best interests.

Advisors at NWM hold a variety of professional credentials, including the Certified Financial Planner™ (CFP®), accredited investment fiduciary (AIF) and chartered advisor in philanthropy (CAP) designations.

Northwest Wealth Management Background

Founded in 2010, the firm is jointly owned by Dwight Conover and Cornelius B. Conover IV, who share control of the company.

NWM offers comprehensive advisory services tailored to client needs, including wealth management, financial planning, and retirement plan advisory services. NWM representatives assess each client’s financial objectives, risk tolerance and goals to recommend suitable services and investment strategies. Wealth management includes portfolio management with discretionary trading authority, performance monitoring, as well as the potential use of third-party managers. Financial planning encompasses goal setting, strategy development and implementation across areas like retirement, estate and insurance planning, with periodic reviews as needed.

Northwest Wealth Management Investment Strategy

NWM relies on a long-term buy-and-hold strategy as part of its investment approach. While clients have the option to impose certain restrictions on their investments, the firm's strategy typically considers factors such as the client's net worth, risk tolerance, financial goals and objectives, investment restrictions and overall financial conditions. As the portfolio matures and market conditions evolve, the firm may choose to adjust asset allocations or revamp the portfolio to better align with the client's needs.

The firm invests in a variety of assets, including stocks, bonds, mutual funds and exchange-traded funds (ETFs). Additionally, advisors may consider private placements and convertible securities as part of their investment approach.

Find an Advisor

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 one of 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™ (CFP®)
• Accredited estate planner (AEP)
• Chartered advisor in philanthropy (CAP)
• Chartered financial analyst (CFA)
• Certified kingdom advisor (CKA)
• Certified exit planning advisor (CEPA)
• Chartered advisor for senior living (CASL)

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 Strege works as senior financial planner, with Syverson serrving as a board member. Syverson Strege's services comprise financial planning, asset management, automated investment programs and third-party money manager selection.

The firm's financial planning process helps clients clarify goals, address wealth gaps and implement integrated strategies while offering ongoing management and advocacy. Asset management services include portfolio analysis, tailored recommendations, quarterly reviews and rebalancing, supported by detailed reporting and personalized investment policy statements.

The firm also offers an automated investment program through Schwab's Institutional Intelligent Portfolios® platform, providing customized portfolios with automated rebalancing and tax-loss harvesting. Additionally, Syverson Strege selects and monitors third-party managers based on performance, cost and investment philosophy.

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. 

Find an Advisor

Legacy Financial Group, a fee-based firm in Des Moines, rounds out our list of the top 10 financial advisory firms in Iowa. Legacy currently works with individuals and high-net-worth individuals, and has no institutional clients on its books. 

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 includes advisors who hold the Certified Financial Planner™ (CFP®) designation, as well as the accredited investment fiduciary (AIF) and certified divorce financial analyst (CDFA) credentials, among others. 

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.

Today, Elson, Hood and Wood own Legacy Financial Group through their ownership of Spectrum Wealth Advisors, Inc.

Legacy Financial Group offers financial planning and portfolio management, as well as pension consulting services, divorce planning services and retirement plan services.

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.