Finding a Top Financial Advisor Firm in Morristown, New Jersey
With several financial advisor firms to choose from in Morristown, New Jersey, it can be tough to narrow down which one you might want to work with. To help you make your decision, we've taken an in-depth look at each firm, including their typical advisory services, client base, minimums, certifications, investing strategies and more. To connect with advisors who serve your area, try SmartAsset's free advisor matching tool.
Find a Fiduciary Financial Advisor
We match nearly 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 | Simon Quick Advisors, LLC  Find an Advisor | $7,072,626,223 | $20,000 annual minimum |
| Minimum Assets$20,000 annual minimumFinancial Services
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| 2 | Beacon Trust  Find an Advisor | $4,352,787,884 | $500,000 |
| Minimum Assets$500,000Financial Services
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| 3 | McRae Capital Management, Inc.  Find an Advisor | $815,751,011 | No set account minimum |
| Minimum AssetsNo set account minimumFinancial Services
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What We Use in Our Methodology
To find the top financial advisors in Morristown, 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:
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AUMFirms with more total assets under management are ranked higher. -
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Individual Client CountFirms who serve more individual clients (as opposed to institutional clients) are ranked higher. -
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Clients Per AdvisorFirms with a lower ratio of clients per financial advisor are ranked higher. -
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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.
Simon Quick Advisors
Simon Quick Advisors leads off our list of the top financial advisors in Morristown. Originally named Massey Quick Simon & Co., LLC, the firm changed its name to Simon Quick Advisors in 2019. It now has billions in assets under management (AUM) and dozens of financial advisors on staff.
The advisory team at Simon Quick Advisors includes certified public accountants (CPAs), Chartered Financial Analysts (CFAs), Certified Financial Planner™ (CFP®), chartered alternative investment analysts (CAIAs) and more.
Simon Quick primarily provides services to individual clients, with most of them having a high net worth. The firm also commonly works with pooled investment vehicles, retirement plans, charities, insurance companies and other investment advisors. Rather than impose a minimum account size, the firm charges a $20,000 minimum annual fee, which could be cost-prohibitive for smaller account sizes.
The firm is fee-only, which means it does not receive any sales or transaction commissions that could introduce conflicts of interest.
Simon Quick provides several different financial advisory services across the investing and financial planning verticals. The firm and its advisors help clients with wealth management, investment planning, cash flow management, retirement planning, tax planning, estate planning and more.
In order to properly help clients manage their investments, Simon Quick creates unique investment plans that fit the objectives of each client. Through extensive interviews, the firm determines the client's investment goals and the asset management styles that best suits them. The firm then allocates client funds to a number of securities, such as stocks, bonds, mutual funds and ETFs. As your portfolio ages, the firm will rebalance your investments.
Simon Quick primarily utilizes fundamental analysis when crafting client portfolios to determine a security's intrinsic value. In terms of investment strategies, the firm engages in long- and short-term purchases, short sales and options trading. Each portfolio is given periodic performance updates to ensure proper growth targets are being met.
Beacon Trust
Beacon Investment Advisory Services, also known as Beacon Trust, is a financial advisory firm with billions in assets under management (AUM).
This firm has several financial advisors who have earned professional certifications, including the Certified Financial Planner™ (CFP®), Chartered Financial Analyst (CFA), accredited estate planner (AEP) and certified trust and financial advisor (CTFA) designations. The firm has a minimum investable asset requirement of $500,000 for new client accounts.
Beacon is a fee-only advisory firm. A majority of its individual clients have a high net worth. The firm also maintains advisory relationships with non-high-net-worth individuals, charitable organizations, government entities, retirement plans and investment companies.
Beacon Trust has been in business since 2015. Today, it provides financial planning, asset management, consulting and tax preparation services. The firm guides its clients through all of the steps it takes to achieve their financial goals. It performs asset management services on a primarily discretionary basis and offers wrap fee programs as well. Financial planning services include:
- Family governance
- Compensation and benefit planning
- Income tax minimization
- Cash flow planning
- Education fund planning
- Charitable giving planning
- Estate planning
- Net worth analysis
- Risk management and analysis
Beacon Trust's portfolio programs look to invest client's assets in a wide variety of securities. The firm looks to preserve wealth and drive growth while maximizing liquidity, tax efficiency and adaptability. Risk mitigation tends to be at the center of each portfolio strategy. The firm's strategies include small-cap, mid-cap, large-cap, international, bond and high-yield securities. It also uses mutual funds and ETFs in client portfolios. The firm rebalances and evaluates client portfolios consistently.
Beacon Trust has a variety of different approaches for clients who engage them for portfolio management services.
- Alternative investments: This is a client-centric model involving affiliated and unaffiliated hedge funds and funds of funds. It seeks to reduce volatility through diversification.
- Active tax management and loss harvesting: Focuses on tax awareness that helps keep money in the pockets of clients, while harvesting losses to create tax advantages.
- Ongoing portfolio monitoring: Centered around continued due diligence that ensures clients are getting the most out of their investments.
McRae Capital Management
McRae Capital Management wraps up our list of the top financial advisory firms in Morristown. McRae Capital has hundreds of millions in assets under management (AUM) and a small team of financial advisors who provide financial planning and portfolio management services. The firm's clientele includes high-net-worth individuals, pension and profit-sharing plans, charitable organizations and businesses. While the firm does not specify a minimum balance for new client accounts, the firm's only individual clients are those above the high-net-worth threshold.
This is a fee-only firm, so all of its compensation comes from the fees that clients pay. Advisors do not sell insurance or securities for commissions. The firm's advisory staff includes Chartered Financial Analysts (CFAs), Certified Financial Planners™ (CFPs®) and a certified public accountant (CPA).
McRae Capital Management was founded in 1981 by Rod McRae, making it the oldest firms on our list. The firm provides discretionary investment management services, and a selection of financial planning services come free with it. These include tax planning, insurance planning, estate planning, retirement planning and more.
McRae's investment strategy is informed by a wide variety of sources, many of which are publicly available. The firm and its advisors employ traditional methods of fundamental analysis, looking at a company's management structure, financial strength, competitive position, cost structure and more to determine its intrinsic value within the context of the market.
In an attempt to mitigate risk, McRae seeks to invest in high-quality securities at attractive prices, including taxable bonds, tax-free bonds and equities. In the end, though, McRae tries to help clients achieve their own particular financial objectives. This involves investing according to their risk tolerance, time horizon and income needs.
