Top Financial Advisor Firms in Maryland

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1919 Investment Counsel is a fee-only firm that serves both high-net-worth and non-high-net-worth individuals, as well as investment companies, pensions and profit-sharing plans, charities, local governments and corporations. The firm, which is also featured in our Baltimore financial advisor rankings, has a number of accredited professionals, including chartered financial analysts (CFAs), Certified Financial Planners™ (CFPs®), certified trust and financial advisors (CTFAs), among others.

1919 Investment Counsel provides comprehensive investment advisory services, including discretionary and non-discretionary portfolio management. Its offerings include financial planning, family office services and estate and generational wealth planning. The firm also serves as an investment manager for mutual funds and offers tailored portfolios based on each client’s financial goals and circumstances.

Depending on the investment program, clients will have a minimum balance requirement to open an account, ranging from $10,000 for access to the firm's fund asset allocation programs to $500,000 for a tailored investment strategy. As its name indicates, the firm was established in 1919. It is now a subsidiary of Stifel Financial Corp., which is a financial services holding company. 

The firm emphasizes actively managed, customized portfolios based on each client’s risk tolerance, return objectives and financial needs. 1919's investment philosophy focuses on high-quality, mid- to large-cap equities and investment-grade fixed income. Advisors use proprietary and third-party research, and may incorporate mutual funds, ETFs, private equity, hedge funds or real estate. Responsible and impact investing options are also available.

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Chevy Chase Trust Company (CCTC), a fee-only financial advisor located in Bethesda, is the No. 1-rated advisory firm in Maryland. CCTC mainly serves high-net-worth individuals. With a $3 million minimum account size, the firm does not currently work with individuals below the high-net-worth threshold. However, it does serve other investment companies, pooled investment vehicles, pensions and profit-sharing plans, charities, local governments, insurance companies, corporations and escrows. 

The firm's advisory staff has a number of accredited professionals. Certifications include Chartered financial analysts (CFAs), Certified Financial Planners™ (CFPs®), Certified public accountants (CPAs), Chartered market technician (CMT) and Certified trust and financial advisors (CTFAs). 

Services available to individual clients of this firm include financial planning and investment management. More precisely, financial planning can touch on topics like asset allocation, estate planning, cash flow and wealth projections, among others. 

The firm primarily relies on a thematic investment strategy, focusing on long-term secular trends, innovations and economic shifts rather than traditional classifications like value or growth. Portfolios may include equities, fixed income, ETFs, ADRs, options, and real estate-related instruments. Fixed income investments can include government, corporate and foreign bonds. The firm customizes portfolios to client needs, aiming for long-term, risk-adjusted returns.

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Founded in 1986, Baltimore-Washington Financial Advisors (BWFA) is a fee-only firm that offers financial planning, investment management, tax preparation and consulting services. BWFA also provides business advisory services and employer-sponsored retirement plans. Their offerings include tailored financial blueprints, retirement and estate planning, business valuations and support for buying/selling businesses.

The firm primarily works with individuals and high-net-worth individuals, as well as charitable organizations, corporations and other businesses. Unlike other firms on this list, there is no minimum investment or account size requirement to be a client. Members of the BDFA team hold a variety of financial credentials, including the Certified Financial Planner™ (CFP®), certified public accountant (CPA), certified investment management analyst (CIMA), chartered retirement planning counselor (CRPC) and chartered financial consultant (ChFC) designations, among others. 

BWFA relies on a long-term, research-driven investment strategy focused on capital growth. They construct diversified portfolios using public securities—stocks, bonds, mutual funds, ETFs—and consider each client’s risk tolerance and goals. Investments are selected based on in-depth analysis, aiming to reduce volatility and avoid speculative practices. Their typical holding period is three to five years.

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XML Financial Group is a fee-based advisory practice that serves both non-high-net-worth and high-net-worth individuals, as well as pension and profit-sharing plans, charities and businesses. 

Members of the XML team hold a variety of professional credentials, including the Certified Financial Planner™ (CFP®), chartered financial analyst (CFA), chartered life underwriter (CLU), retirement income certified professional (RICP), chartered retirement planning counselor (CRPC), among others. 

The firm does not have a set account minimum. However, clients enrolled in the Morningstar Managed Portfolios (MMP) through XML have a $50,000 minimum account size. 

XML Financial provides a range of personalized financial services, including discretionary and non-discretionary investment management, financial planning, retirement plan consulting and advisory consulting. The firm also offers wrap fee programs that bundle management and transaction fees into a single cost. Services are tailored to individual needs and may involve selecting investments, creating financial plans and advising on assets held at third-party custodians or within retirement accounts.

XML Financial runs various asset-management programs through different investment advisor representatives (IARs). Based on your needs, it may recommend a particular model with a specific asset allocation and investment objective. The firm will build a strategy based on your individual financial circumstances and investment goals. It may construct your portfolio with exchange-traded funds (ETFs) and mutual funds, as well as individual stocks and bonds.

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Retirement Management Systems is a fee-based firm located in Leonardtown, Maryland, that serves both high-net-worth and non-high-net-worth individuals, as well as retirement plan participants, corporations, pension and profit-sharing plans, and financial advisors and their clients. The firm also operates under the names Oak Wealth Partners in multiple states and DARR Wealth in Texas. The firm's advisory staff has a number of accredited professionals, including Certified Financial Planners™ (CFPs®) and certified public accountants (CPAs), among others.

Retirement Management Systems offers savings plan management for participants in 401(k), 403(b) and 457 plans, portfolio management for individuals outside employer-sponsored plans, financial planning, consultation services, plan sponsor consulting and educational seminars. Financial planning may cover investment planning, budgeting, estate planning, insurance counseling, retirement planning and tax planning.

The firm generally uses asset allocation and diversified portfolio construction principles. For savings plan management, RMS uses risk-based model portfolios that range from conservative to aggressive, with investment options generally limited to mutual funds, ETFs, unit investment trusts and group variable annuity sub-accounts. 

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Greenspring Advisors is a fee-only advisory firm headquartered in Towson, Maryland. It serves individuals, high-net-worth individuals, families, trusts, estates, charitable organizations, nonprofits, corporations and other businesses. The firm also works with retirement plan sponsors, plan fiduciaries, plan participants, foundations and endowments.

The firm generally requires a minimum annual fee of $5,000 for wealth management, though this may be higher at certain office locations. Retirement plan consulting and institutional investment consulting services each generally require a $10,000 minimum annual fee. Standalone financial planning fees range from $2,000 to $150,000, or $150 to $750 per hour.

Greenspring offers private wealth management, financial planning, investment management, retirement income planning, tax planning, estate planning, cash flow planning, business planning, education planning and focused financial consulting. 

Greenspring's advisors generally uses long-term purchases as its primary investment strategy, with securities typically held for one year or longer. The firm’s analysis may include fundamental, quantitative and qualitative research, asset allocation, mutual fund and exchange-traded fund (ETF) analysis, and review of third-party money managers.

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Scarborough Capital Management is a fee-based financial advisor firm headquartered in Annapolis, Maryland. It serves individuals and high-net-worth individuals, as well as corporations and other businesses. Members of the Scarborough team include advisors with the chartered financial consultant (ChFC®) designation.

Scarborough offers discretionary portfolio management, financial planning and consultation services. The firm also provides workplace retirement account management, 401(k) asset management, Savings Plan Management for 401(k), 403(b) and TSP accounts, and educational seminars for corporations.

The firm’s investment approach generally centers on asset allocation and diversification across asset classes. Portfolios may include mutual funds, exchange-traded funds (ETFs), equities and other available investments. Scarborough may use model portfolios ranging from conservative to aggressive, as well as custom portfolio construction, and may use both long-term and short-term purchases. 

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D.F. Dent and Company is a fee-only advisory practice that's been in business since 1976, making it the third-oldest firm on this list. For individual clients, account minimums range from $1 million to $5 million, depending on the type of portfolio you own. The D.F. Dent team features a number of chartered financial analysts (CFAs). Meanwhile, some staff members hold other credentials like the Certified Financial Planner™ (CFP®) or certified public accountant (CPA). 

High-net-worth individuals comprise the largest percentage of D.F. Dent's client base. The firm also works with individuals below the high-net-worth threshold and a variety of institutional clients, including retirement plans, charities, pooled investment vehicles, government entities, among others. 

These clients may receive a combination of discretionary investment advisory and financial planning services, along with sub?advisory support and continuous account monitoring. Investment advisory services may be rendered through separately managed accounts, mutual funds, wrap-fee and unified managed account (UMA) programs.

According to the firm's website, it adheres to a quality-growth, concentrated, low-turnover equity approach that's complemented by fixed income. D.F. Dent invests in domestic equities—across small-, mid- and all?cap growth strategies—alongside investment-grade bonds, ETFs, options and cash equivalents. Investment decisions draw on fundamental, technical and cyclical methods of analysis supported by extensive research.

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Verdence Capital Advisors is a fee-based advisory firm headquartered in Hunt Valley, Maryland. It serves high-net-worth individuals, families, business owners, executives and family office clients, as well as institutions and other advisory firms. The firm also works with business entities, pension and profit-sharing plans, trusts, estates, charitable organizations, independent investment advisers, professional athletes and entertainment professionals.

Verdence Capital Advisors does not state a specific minimum asset requirement, but it generally requires a minimum annual fee of $10,000. The firm may reduce or waive this minimum at its discretion. Fees at Verdence Capital Advisors are generally based on a percentage of assets under management, though the firm may also charge fixed or hourly fees for stand-alone financial planning and consulting services.

Verdence Capital Advisors provides discretionary investment advisory services, financial planning and consulting, family office services, sports and entertainment-focused services and outsourced chief investment officer services.

The firm generally uses diversified asset allocation across mutual funds, individual equities and debt instruments. Advisors may use long-term and short-term purchases, fundamental analysis, technical analysis, cyclical analysis, tactical allocation shifts and defensive cash positioning. 

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The Prosperity Consulting Group, doing business as Prosperity, An EisnerAmper Company, is a fee-based advisory firm headquartered in Owings Mills. The firm serves both high-net-worth and non-high-net-worth individuals, as well as retirement plans, trusts, estates, charitable organizations, corporations and other business entities.

The firm generally calls for a $500,000 account minimum, though certain independent managers may have higher minimums or different requirements. As a fee-based firm, certain representatives may earn commissions from brokerage or insurance-related activities. Members of the Prosperity team hold multiple professional certifications, including the Certified Financial Planner™ (CFP®) and certified public accountant (CPA) designations.

Prosperity provides financial planning, investment management, retirement plan advisory services, insurance planning, financial education seminars and account aggregation services. Financial planning may address retirement, education funding, estate planning, tax liabilities, insurance needs, long-term care, business planning, charitable giving, divorce planning and risk management.

The firm primarily uses asset allocation and portfolio construction based on each client’s investment policy statement. Portfolios may include mutual funds, institutional mutual funds, exchange-traded funds (ETFs), stocks, bonds, money market funds, unit investment trusts, certificates of deposit and structured notes.