Top Financial Advisors in New York State

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Cerity Partners is not only the top-rated financial advisor in New York State, it's also ranked among the 10 top advisory firms in the United States. This massive firm has over $120 billion in client assets under management (AUM), significantly more than any other firm on this list. Cerity, which does not have a minimum account size, serves both non-high-net-worth and high-net-worth individuals, as well as institutional clients. 

Cerity Partners is a fee-based firm, since the firm and individual advisors can receive additional commissions related to certain transactions. While this creates conflicts of interest, the firm has a fiduciary duty to always act in clients' best interests. 

Cerity Partners offers a wide range of services, including investment management, financial planning, retirement plan consulting and tax planning. Its offerings also include portfolio construction and monitoring, strategic asset allocation, manager selection, estate and trust planning, tax preparation, insurance and risk management and family office services. Additionally, the firm provides access to alternative investments and venture capital advisory through CP Ventures.

The firm allocates assets across broad categories such as cash, fixed income, equities, specialty and private markets and sub-asset classes. It uses various methods of analysis—including charting, fundamental, technical, cyclical, quantitative and proprietary computer-aided models—when evaluating investments. The firm’s approach emphasizes diversification but acknowledges that diversification does not eliminate market risk.

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Summit Rock Advisors, based in New York City, takes the No. 2 spot on our list. However, its $100 million investment minimum is higher than any other firm in the top 10, making it one of the most exclusive firms in the country. Summit Rock's brochure says the average client size is "approximately $482 million." 

Summit Rock is a fee-only firm, as advisors do not receive third-party commissions from selling securities or insurance. This differs from a fee-based firm, as these firms can earn commissions in addition to client-paid fees.

Generally speaking, Summit Rock serves as an outsourced investment office to a select group of U.S.-based families and charitable institutions, delivering independent and customized financial advice. 

The firm’s investment philosophy centers on preserving capital, reducing volatility and enhancing long-term purchasing power. To do this, Summit Rock employs broad asset class diversification and selects external managers through quantitative and qualitative due diligence. The firm looks to manage risk by diversifying across strategy, manager, geography, sector and vintage year. The firm also manages its own private pooled investment vehicles, which provide clients with investment opportunities across less-efficient asset classes. 

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Wealthspire Advisors, another fee-only firm, works with more than 8,000 individual clients. These clients are mixed between non-high-net-worth and high-net-worth individuals. The firm also serves institutional clients, including retirement plans, charities, government entities and corporations.

Wealthspire's services are geared towards individuals and families who want holistic wealth management. This includes many types of financial planning, as well as investment management. The Wealthspire team includes a number of professional certifications, including the Certified Financial Planner™ (CFP®), certified public accountant (CPA), chartered financial analyst (CFA), certified exit planning advisor (CEPA), accredited investment fiduciary (AIF) and certified divorce financial analyst (CDFA), among other designations.

The firm follows an investment strategy built around managing risk through diversified portfolios that span a wide range of asset classes. The firm uses an asset allocation model that's influenced by principles employed by large endowments and foundations. Investment decisions are informed by a combination of quantitative and qualitative analysis, with attention paid to fees, taxes and minimizing unnecessary portfolio changes. Wealthspire offers a range of portfolio guidelines tailored to different investor profiles and risk preferences, and it continually monitors portfolios and evaluates individual investment decisions in the context of the broader portfolio. 

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First Manhattan Co. (FMC) is a fee-based firm headquartered in New York City. It serves both non-high-net-worth and high-net-worth individuals, as well as institutional clients. The firm provides individually tailored investment portfolios in equity and/or fixed-income securities through discretionary and non-discretionary accounts. First Manhattan also advises private investment funds and serves as investment advisor to two exchange-traded funds.

Depending on the account, clients may have a minimum portfolio balance. For those engaging in portfolio management, there can be an annual fee imposed as a percentage of assets under management. This rate is higher with smaller account balances and lower with larger ones.

The firm's team of advisors and staff hold a number of professional certifications, including the Certified Financial Planner™ (CFP®), chartered financial consultant (ChFC) and charterd financial analyst (CFA) credentials. 

First Manhattan focuses on managing assets for long-term capital appreciation and emphasizes research as the core of its investment process. Portfolio managers and analysts generate and vet investment ideas by analyzing a broad universe of companies across industries, often meeting face-to-face with company management, customers, suppliers, competitors and consultants. 

A majority of assets managed by First Manhattan are invested in equity securities, including publicly and privately issued stocks, convertible securities and index-tracking instruments. The firm’s portfolio managers follow a value-focused approach with an emphasis on managing risk, selecting companies that demonstrate strong fundamentals, including consistent profitability, healthy balance sheets and management teams aligned with shareholder interests.

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Silvercrest Asset Management Group is a financial advisor firm that primarily serves high-net-worth individuals despite not having a minimum account size or investment requirement. The firm also works with institutional clients, like retirement plans and charitable organizations. It's important to note that Silvercrest Asset Management Group is a fee-only firm, as advisors do not receive third-party commissions from selling securities or insurance.

The firm provides services focus on asset management and family office services, including bill pay, personal accounting, tax planning, reporting and financial planning. Like many other firms on this list, Silvercrest's team features advisors who hold the Certified Financial Planner™ (CFP®), chartered financial analyst (CFA) and certified public accountant (CPA) designations.

Silvercrest Asset Management Group uses specific objectives and guidelines for each client portfolio. The range of investment options for clients is unlimited, including the firm's own equity and fixed-income management, its funds and third-party investment managers. 

The approach the firm takes with equity portfolios is designed to seek compound annual returns with low levels of risk. This approach is conservative and long-term, and as such, portfolio turnover is low. 

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Tiedemann Advisors is an SEC-registered investment advisory firm that manages money for high-net-worth individuals, pooled investment vehicles and charities. As a fee-only firm, the Tiedemann Advisors team earns money through management fees that are paid by clients. These fees can get charged as a flat or minimum management fee that is based on a percentage of assets under management. Like some other firms on this list, Tiedemann does not have a minimum account size or minimum investment requirement.

The Tiedemann Advisors team holds multiple certifications, including Certified Financial Planner™ (CFP®), certified public accountant (CPA) and chartered financial analyst (CFA), among other designations.

Tiedemann Advisors provides both discretionary and non-discretionary investment advisory services and investment consulting, among other services. The firm customizes services and portfolios based on a thorough understanding of each client's particular situation (including risk tolerance and liquidity) and objectives. The firm also selects investment advisors to offer guidance to private investment fund commingled vehicles, or pooled investment funds.

In order to advise clients, the firm uses a core strategy of third-party managers or investment themes (such as mutual funds, ETFs, private investments (like hedge funds and private equity funds) alongside shorter-term investments with attractive returns that take risk into account (such as equities, bonds, futures, options, etc.).

Tiedemann Advisors uses a variety of strategies at different parts of its research process, looking first at broad macroeconomic trends while using fundamental, technical and cyclical methods of analysis. When it comes time to perform its proprietary risk optimization process and develop the right asset allocation, advisors at the firm will use qualitative and quantitative research to inform strategies.

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BBR Partners is a New York City-based advisory firm with the second-highest minimum asset level requirement on this list: $50 million. In turn, the firm predominantly serves high-net-worth individuals, their families and their related entities, including trusts, estates, charities and businesses. 

The firm's large advisory team features staff members who hold a variety of professional credentials, including the Certified Financial Planner™ (CFP®), chartered financial analyst (CFAs) and certified public accountant (CPA). It's important to note that BBR Partners is a fee-only firm, as advisors do not receive third-party commissions for selling securities or insurance.

The firm provides investment advisory services and gives advice on non-investment matters such as tax planning, strategic philanthropy, family governmance and education, wealth transfer strategies, as well as administrative and reporting services. 

The firm creates an asset allocation plan for each client and selects a diversified mix of investment managers and strategies to implement that plan. Client assets are primarily allocated across separate accounts managed by third-party managers, mutual funds, ETFs, exchange-traded notes, private investment funds and BBR’s own private investment vehicles.

The firm relies on a range of investment approaches—including long-term and short-term purchases, trading strategies, margin transactions, short sales and option. BBR Partners emphasizes building diversified portfolios designed to produce consistent, risk-adjusted returns aligned with each client’s goals.

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TAG Associates is a fee-only advisory practice that requires new clients invest $10 million to open an account. As result, the firm works almost exclusively with high-net-worth individuals, in addition to several institutional clients. The advisory team at TAG holds multiple certifications, including the certified public accountant (CPA), Certified Financial Planner™ (CFP®) and chartered financial analyst (CFA) designations, among others.

TAG Associates is a fee-only firm, as advisors do not receive third-party commissions from selling securities or insurance. This is different from a fee-based firm, which allows advisors to collect third-party commissions.

The firm, which is also ranked among the top advisors in New York City, focuses on comprehensive wealth management services and standalone portfolio management services. Its offerings include portfolio management, financial management, tax planning and compliance, estate and trust planning, and access to TAG-managed private investment funds structured as funds of funds.

When putting together investment strategies, the primary concern of TAG Associates is the preservation of capital. TAG currently uses a variety of resources to collect data and evaluate various investment products, including qualitative and quantitative information/data on mutual funds, ETFs, money market funds and indexes; brokerage accounting/performance analysis software; and access to financial and other news in real-time format.

Occasionally, the firm recommends short-term purchases of securities, trading securities sold within 30 days, margin transactions and option writing.

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Manning & Napier Advisors is a fee-based firm that employs a large team of advisors who work with thousands of clients, the majority of whom are individuals and high-net-worth individuals. The firm also serves institutional clients like retirement plans and charitable organzations. Account minimums at Manning & Napier Advisors range from $100,000 to $20 million.

Located outside of Rochester in the town of Fairport, Manning & Napier Advisors is the lone firm on this list not based in New York City. 

Some of the advisors at this firm are also registered representatives of a broker-dealer. These advisors may receive compensation for selling securities and other financial products, which represents a potential conflict of interest. That said, the firm is a fiduciary and is legally obligated to put the interests of clients first.

Manning & Napier Advisors provides clients with a wide range of advisory services. The firm primarily offers investment management services, though financial planning is rolled into its wealth management services. Manning & Napier works with clients either directly or through unaffiliated third-party advisors. 

Manning & Napier builds investment portfolios using both top-down and bottom-up analysis. Top-down means looking at broad trends like the economy, interest rates and market cycles, while bottom-up means closely studying individual companies and investments. An internal team sets the firm’s market outlook and makes broad allocation decisions, while strategy teams select specific stocks, bonds and other assets.

For stocks, the firm looks for three types of opportunities: companies with strong growth potential, firms in depressed sectors expected to rebound and businesses that hold valuable assets not fully priced-in by the market. Fixed income strategies follow a similar mix of big-picture and detailed research. 

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Summit Trail Advisors, located in New York City, rounds out our list of the top financial advisor firms in the Empire State. This fee-based practice has billions in assets under management (AUM)—the majority of which belongs to high-net-worth individuals. The firm, which doesn't have a minimum account size requirement, also works with individuals below the high-net-worth threshold and institutional clients. 

Summit Trail has a number of credentialed professionals on staff, including team members who hold the Certified Financial Planner™ (CFP®), certified public accountant (CPA), accredited estate planner (AEP) and chartered financial analyst (CFA) designations, among others. However, as a fee-based practice, advisors on staff can earn third-party compensation for selling financial products, which creates a conflict of interest. Despite this, Summit Trail has a fiduciary duty to act in clients' best interests. 

Summit Trail helps clients manage their investments, either by making decisions on their behalf or by giving advice while the client remains in control. The firm also offers financial planning and consulting to help clients with broader financial goals. For those interested, Summit Trail provides access to private investment funds and may recommend outside investment managers for more specialized strategies.

Clients can choose additional services such as standalone financial planning, retirement plan advice, or a range of family office services, which include help with estate and tax matters, charitable giving, cash management, employee benefits, and creating comprehensive financial reports.

When it comes to investing clients assets, the firm focuses on asset allocation across three broad categories: growth, preservation and inflation protection. It selects investments through an open-architecture approach that uses third-party managers and a mix of ETFs, mutual funds, separate accounts and limited partnerships. Portfolios are designed to adapt as clients’ needs evolve, and may include long- and short-term investments, margin strategies, options and private fund investments. The firm also incorporates both fundamental and technical analysis when assessing individual securities.