Top Financial Advisor Firms in Maryland

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Chevy Chase Trust Company (CCTC) is a fee-only financial advisor located in central Bethesda and is ranked Maryland's top-rated firm.

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 accountant (CPA)
• chartered market technician (CMT)
• certified trust and financial advisor (CTFA)

As a fee-only firm, CCTC's advisors do not earn commissions or sell third-party products. Instead, their compensation comes solely from the fees that clients pay for their services. 

Chevy Chase Trust Company Background

Chevy Chase Trust Company was first established in 1997. A related holding company called Chevy Chase Trust Holdings, LLC owns the firm as one of its subsidiaries. 

Services available to individual clients of this firm include financial planning and investment management. More precisely, financial planning can touch on topics like income planning, risk management, insurance planning, cash flow planning, estate planning, strategic tax planning, charitable gift planning and more. 

Chevy Chase Trust Company Investment Strategy

Investment services are based on the creation and management of personalized portfolios. CCTC relies on two main categories of investment approaches: equity and fixed-income.

For fixed-income investing, the firm looks to both preserve your account's principal and beat inflation so your money doesn't lose value. This strategy is used to balance out an equity strategy, depending on your risk tolerance. The firm focuses on your tax situation, income needs and other client-specific considerations when building out a fixed-income portfolio.

For equity investing, the firm will allocate assets to large-, medium- and small-capitalization stocks in an effort to protect those assets from unsustainable highs and extreme lows in the market. CCTC will also invest across various geographical areas and market sectors to furthur ensure diversification. This strategy will be employed alongside its fixed-income counterpart to ensure you have enough liquidity.

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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) and certified financial planners (CFPs).

Depending on the investment program, clients will have a minimum balance requirement to open an account. 

1919 Investment Counsel Background

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.

1919 Investment Counsel employs various styles of investing, rather than goal-specific services. Clients of this firm can choose from the following traditional and alternative investment styles:

• Fixed income investing
• Equity investing
• Socially responsible investing
• Global total return investing
• Multi-cap core equity investing

1919 Investment Counsel Investment Strategy

1919 Investment Counsel strives to build investment and financial plans that will meet its clients’ needs. It does this across two main verticals: equity and fixed income, offered on a discretionary and non-discretionary basis. 

Fixed income and equity discretionary services refer to standard investments accounts that use not only fixed-income and equity investments, but also cash equivalents and alternative investments. Because it’s a discretionary account, you are ceding all decision-making ability 1919's advisors. On the other hand, non-discretionary investment advisory services leave control in your hands. The firm will come up with a set of investment recommendations, which you’ll be able to approve or reject.

The firm has family office services available as well, though these aren’t available to every client. These services are meant to ensure that an entire family’s financial needs and desires are being met and will include all the services above, just on a larger scale.

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Advisors at Facet hold multiple certifications, including the certified financial planner (CFP) designation. Most of its clients are non-high-net-worth individuals, though it also serves high-net-worth clients.

The client base at Facet must abide by a minimum annual fee of $2,000. This is a fee-only firm, as all of its compensation comes from the fees clients pay and not third-party commissions.

Facet Background

Facet was founded in 2016. The current CEO is co-founder Anders Jones. Executive chairman Patrick McKenna, Jones Capital Partners and Warburg Pincus combine to own the firm.

Services offered by the company include comprehensive financial planning, cash flow and income planning, retirement planning, estate planning, debt management, education planning, income tax planning, employee benefit planning and charitable planning.

Facet Investment Strategy

Facet advisors use fundamental, technical and cyclical analysis to pick securities for purchase. The firm uses both long-term and short-term purchases to maximize returns. Potential investments include open-end mutual funds, closed-end mutual funds, ETFs, individual equities and individual bonds.

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WMS Partners is a fee-only firm located in Towson. It has a $3 million account requirement and works with both non-high-net-worth and high-net-worth individuals, as well as pooled investment vehicles, pension and profit-sharing plans, charities and corporations. The firm may waive or lower its account minimum at its discretion.

WMS Partners operates on a fee-only basis so it earns compensation only from its clients based on the services it provides. It doesn’t earn commissions or other compensation from third-party firms for selling or recommending their products like fee-based advisors might. 

WMS has an advisory team composed of numerous accredited professionals, which have included:

• chartered financial analysts (CFAs)
• certified financial planners (CFPs)
• certified public accountants (CPAs)
• personal financial specialists (PFS)
• accredited investment fiduciary (AIF)
• accredited wealth management advisor (AWMA)
• certified trust and financial advisor (CTFA)

WMS Partners Background 

WMS Partners has been in business since 1993. A substantial majority of WMS is owned by WMS Partners Holdings, LLC and TRIA Asset Holdings B, LLC. WMS Partners Holdings, LLC is owned by current employees of WMS.

The practice specializes in legacy planning and investment management. It also offers stand-alone financial planning services to its clients. 

WMS Partners Investment Strategy 

WMS Partners builds portfolios with asset allocations based on the client's personal factors such as risk tolerance, investment goals and time horizon. WMS Partners is an “open-architecture” firm that considers virtually the entire fund universe when building an asset allocation. This may include private funds and other exclusive investments.

When building customized portfolio for a client, advisors may use individual equities, fixed income securities like bonds, mutual funds, exchange-traded funds (ETFs) and private investment funds. 

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Greenspring Advisors is a fee-only firm in Towson that works with both high-net-worth and non-high-net-worth individuals, as well as pensions and profit-sharing plans, charities and corporations.

You generally won't need a minimum investment to open an account with Greenspring, although there is a $5,000 minimum annual fee. 

Advisors at the firm have held multiple certifications, including:

• certified financial planners (CFPs)
• accredited investment fiduciaries (AIFs)
• chartered retirement plan specialists, (CRPSs)
• enrolled agents (EAs)
• chartered financial analyst (CFA)
• certified divorce financial analyst (CDFA)
• chartered financial consultant (ChFC)
• chartered life underwriter (CLU)
• chartered advisor for senior living (CASL)

Greenspring Advisors Background 

Greenspring opened its doors in 2004 and is owned by Greenspring Wealth Management, Inc; ISI Financial, Inc; Greg Hobson, Greg Plechner, Jeff Bernfeld, Mary Goetz and Christian Stanley.

Greenspring offers clients private money management and wealth planning services. For investment management services, which can be on a discretionary or non-discretionary basis, the firm collects fees based on a percentage of client assets. For financial planning and consulting, which can cover such areas as tax, retirement, estate and insurance planning, fees are billed at an hourly or fixed rate.

Greenspring Advisors Investment Strategy

Like many other firms, Greenspring's investment strategy is rooted in a thorough analysis of a client's financial profile. The firm takes into account factors like a person's risk tolerance, financial situation and goals when designing an appropriate asset allocation. The firm doesn't limit exposure to certain security types. Depending on the client, portfolios may invest in a range of securities, including:

• Exchange-listed securities
• Securities traded over-the-counter
• Corporate debt securities
• Certificates of deposit (CDs)
• Municipal securities
• Commercial paper
• Variable life insurance
• Variable annuities
• Mutual funds
• U.S. governmental securities
• Options contracts on securities
• Interests in partnerships investing in real estate

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XML Financial Group works with both non-high-net-worth and high-net-worth individuals, as well as pension and profit-sharing plans, charities and businesses.

As a fee-only practice, XML's revenue is compensated solely from the fees that clients pay, not commissions for selling third-party products and services. 

The firm does not have a set account minimum.

XML Financial Group Background 

XML Financial first came into the financial services industry in 2016. Today, it exists as a wholly-owned subsidiary of Focus Operating, LLC.

The firm offers investment advice in addition to stand-alone financial planning services like estate planning, retirement plan management and trust funds.  

In September of 2021, the company welcomed Robert Collins and the team at Collins Investment Group, now a division of XML, based in Bethesda, Maryland.  

XML Financial Group Investment Strategy

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), closed end funds, unit investment trusts and certain mutual funds.

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Harbor Investment Advisory is a fee-only financial advisor firm located in Lutherville. It serves both high-net-worth and non-high-net-worth individuals, as well as pension and profit-sharing plans, charities and corporations.

The minimum account size at Harbor varies based on the type of account a client selects, ranging up to $1 million. Fees at Harbor are generally based on a percentage of assets under management, though some services are subject to a flat fee.

Harbor is both an investment advisor and a broker-dealer. Therefore, it may charge a commission when it is acting as a broker-dealer and not as an investment advisor for specific assets. 

There are numerous advisors at the firm with multiple professional certifications, including:

• certified financial planner (CFP)
• chartered financial analyst (CFA)
• chartered retirement planning counselor (CRPC)
• certified investment management analyst (CIMA)
• certified private wealth advisor (CPWA)

Harbor Investment Advisory Background 

Harbor Investment Advisory was founded in 2010. It is wholly owned by parent company Harbor Investment Management, LLC.

The firm’s services include investment advice, separately managed accounts, investment consulting, retirement plan services and financial planning. 

Harbor Investment Advisory Investment Strategy

Advisors at Harbor work with clients to develop a strategy that fits their life and goals. A mix of quantitative and qualitative analyses are used to develop investment strategies. Possible investments include stocks, bonds, index mutual funds and alternative investments.

Quantitative analysis is done using only raw numbers; outside factors affecting the company won't be considered. Qualitative anaalysis, on the other hand, looks at the full story behind a company. If a new management team is hired or a new strategy is put in place, this analysis may cause stockpickers to buy or sell shares of the company.

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Heritage Investors Management Corp. is a fee-only firm that serves both high-net-worth and non-high-net-worth individuals, as well as pension and profit-sharing plans, charities and corporations.

The advisory team holds multiple certifications, including: 

• chartered financial analysts (CFAs) 
• chartered investment counselors (CICs)
• certified public accountant (CPA)

The firm calls for a $1 million account minimum. 

Heritage Investors Management Corp. Background

Heritage Investors Management Corp. opened in 1974. It’s independently owned by president Michael Cornfeld, who has been in the financial services sphere for more than 40 years.

The firm offers financial services such as portfolio management, retirement planning, trust and estate management and general financial planning. 

Heritage Investors Management Corp. Investment Strategy

Heritage Investors Management Corp. primarily invests in stocks, bonds, exchanged-traded funds (ETFs) and money market instruments. The decisions it makes about specific investments are not only affected by clients’ needs, but also by any domestic or foreign events that occur that could affect the market.

Heritage says that it typically engages in long-term purchases of securities, and the firm’s advisors will usually only hold onto investments long enough to make sure that taxes don’t heavily impact returns. Still, it does not believe that securities should be bought and held forever, and it will adjust portfolios in response to economic and market conditions. It occasionally engages in short-selling and margin transactions, though only after consulting with the client about the risks of these strategies. 

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G10 is a fee-only that primarily caters to a sophisticated clientele including qualified institutional investors, institutions, banks, profit-sharing plans, and pension plans. The firm operates on a fee-only basis and does not specify a uniform minimum account size. Instead, minimum investments for Adviser Funds are detailed in each Fund's governing documents, although the general partners or the Adviser may choose to accept lower investments at their discretion. For separately managed accounts, minimums are determined individually.  

G10 Background

G10 was founded in 2023. The firm is under the trust ownership of the Mary Catherine Bunting 2011 Perpetual GST Exemption Trust. Today, the firm manages more than $4.3 billion in assets under management (AUM) across its 12 advisors. 

G10 Investment Strategy

The firm's investment philosophy is designed to build wealth over the long term while integrating considerations for tax planning, estate and wealth transfer, strategic family planning and governance, cash management, risk management, and philanthropy. The firm employs a goals-based investing framework that not only addresses short-term liquidity needs but also aims for sustainable multi-generational wealth preservation and growth.?

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T. Rowe Price Advisory Services is a fee-only firm that caters to individual investors with various financial thresholds. The firm offers multiple services, each with its own minimum investment requirement: $50,000 for both the APP Program and multi-fund portfolio recommendations via the Investment Allocation Tool; $2,500 for general investment goals; and $1,000 for retirement goals or establishing an IRA through the Retirement Fund Recommendation Service.

T. Rowe Price Advisory Services Background

T. Rowe Price Advisory Services was founded in the year 2000. It operates as a wholly owned subsidiary under its corporate owner, T. Rowe Price Group, Inc. The firm today manages more than $2.5 billion in assets under management (AUM) across its 42 advisors. 

T. Rowe Price Advisory Services Investment Strategy

The firm employs a comprehensive investment approach that emphasizes diversification across various market capitalizations, sectors, and geographical areas. Their strategy includes a balanced allocation between equities and fixed income, ensuring broad diversification not only in sectors but also across different regions. Additionally, the firm adopts an asset allocation strategy that involves investing in a mix of stock and bond funds to create a diversified portfolio.?