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 more than 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 | Beacon Trust  Find an Advisor | $4,018,244,995 | $500,000 |
| Minimum Assets$500,000Financial Services
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| 2 | Simon Quick Advisors, LLC  Find an Advisor | $5,752,893,260 | No set account minimum |
| Minimum AssetsNo set account minimumFinancial Services
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| 3 | McRae Capital Management, Inc.  Find an Advisor | $701,547,037 | No set account minimum |
| Minimum AssetsNo set account minimumFinancial Services
|
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.
Beacon Trust
Beacon Trust, a financial advisory firm with billions in assets under management (AUM), comes in second on our list of the top financial advisor firms in Morristown. This firm has several financial advisors who carry a range of certifications including Certified Financial Planner™ (CFP®), chartered financial analysts (CFAs), a chartered alternative investment analyst (CAIA) and a certified private wealth advisor (CPWA). 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 Background
Beacon Trust has been in business since 2015. The firm is owned by Beacon Trust Company, which is in turn owned by Provident Bank, which is in turn owned by Provident Financial Services, Inc., a publicly traded company. The firm's advisory team is led by Chief Investment Officer (CIO) John Longo and President Valerie Murray.
Beacon Trust 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
Beacon Trust Investment Strategy
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 exchange-traded funds (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.
Simon Quick Advisors
Coming in next on our list is Simon Quick Advisors. Though originally named Massey Quick Simon & Co., LLC, the firm changed its name to Simon Quick Advisors in 2019. This firm has billions in assets under management (AUM) and several financial advisors on staff. Among them are certified public accountants (CPAs), chartered financial analysts (CFAs), Certified Financial Planner™ (CFP®), certified divorce financial analysts (CDFAs), 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 $10,000 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 Advisors Background
Dwight Massey and Leslie Quick III founded the firm in 2004. Today, it's owned by a combination of William E. Simon & Sons, LLC; managing partners Joseph Belfatto and Leslie Quick III; and QIII Family Enterprises, LLC, a holding company. Altogether, Belfatto and Quick have 80 years experience in financial services. Massey is now retired.
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, retirement planning, tax planning, estate planning and more.
Simon Quick Advisors Investment Strategy
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 precise investment goals and the asset management styles that would pair well with them. The firm then allocates client funds to a number of securities, such as stocks, bonds, mutual funds and exchange-traded funds (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.
McRae Capital Management
McRae Capital Management is a financial advisory firm in Morristown with hundreds of millions in assets under management (AUM). McRae's small team of financial advisors provide financial planning and portfolio management services for clients that include 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 income comes from the fees that clients pay. The firm's advisory staff includes two chartered financial analysts (CFAs), two Certified Financial Planners™ (CFPs®) and one certified public accountant (CPA).
McRae Capital Management Background
McRae Capital Management was founded in 1981 by Rod McRae, making it one of the oldest firms on our list. The current owners of the firm are managing partners Roderick McRae III and Peter McRae. This trio of McRae family members has more than 100 years of collective experience in the investment and financial services industries.
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 Capital Management Investment Strategy
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.
