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Find the Best Financial Advisors in Buffalo, NY

Buffalo residents rely on financial advisors for a variety of needs, including planning their retirement and managing existing wealth. It’s vital to work with someone you trust. The Buffalo News has partnered with ConsumerAffairs to create this guide by comparing consumer reviews and local availability of 69 businesses and choosing four favorites from the top financial advisors in Buffalo.

Companies pay ConsumerAffairs to be accredited, and The Buffalo News and/or ConsumerAffairs may receive compensation when you click a link, call a number or fill out a form on this site.

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How to find a good financial advisor in Buffalo

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Finding a financial planner in Buffalo can be a time-consuming process. Research several advisors in the Buffalo area, and compare their certifications, reputation and approach to wealth management before deciding which one is a good fit.

After narrowing your choices, schedule a free consultation or two to get more information about an advisor’s fees, financial philosophy and overall personality. The New York state attorney general recommends having the advisor fill out a form with licensing information and verifying it with the proper agency. By thoroughly vetting the financial planner, you ensure a good fit and avoid common scams.

How much does a financial advisor cost in Buffalo?

There are four ways financial advisors determine their fees. The most common fee structure is charging a percentage of the managed assets. On average, this fee is around 1%. An advisor might also charge by the hour or charge a flat rate for individual services. For example, if you want a financial plan drafted, an advisor might charge a flat fee ranging from $1,500 to $2,500.

Commission-based services are the fourth type of fee structure. This option is most commonly used by investment advisors. This payment style has the potential for abuse or conflict of interest. Registered investment advisors are required to provide a relationship summary, which explains fees and costs and conflicts of interest, according to the Securities and Exchange Commission.

What does a financial advisor do in Buffalo?

Financial advising encompasses a variety of services. Buffalo residents have the opportunity to customize services to suit their needs, whether they need investment advice or retirement planning. The following are common financial services offered by advisors in Buffalo.

  • Financial planning: Advisors apply this term to refer to a variety of life events and financial decisions, such as retirement, investing, educational savings and more. Buffalo residents request these services individually or as part of a long-term plan.
  • Investment management: For Buffalo residents seeking smart, experienced investment advice, an investment advisor is a great option. In order to avoid potential conflicts of interest, many investors choose to work with registered investment advisors, who have a fiduciary responsibility to their clients.
  • Retirement planning: Planning for retirement is one of the most common reasons consumers seek the services of a financial advisor. Whether you’re still working or already in retirement, retirement planning can maximize the value of your savings.

Buffalo financial advisors FAQ

How much do I need to retire?

The general rule is you should have enough to cover 80% of your pre-retirement income per year. Financial advisors help Buffalo residents plan for retirement if they’re still working, or optimize their savings if they’re already retired.

What is a fiduciary?

A fiduciary is someone who manages money and/or property on behalf of somebody else. Fiduciaries, including investment advisors, are required by law to make decisions in their clients’ best interests and not their own.

How do I buy a stock?

Buy stocks online yourself, or work with a financial advisor to build a portfolio. These experienced professionals can purchase and monitor stocks for you.

What is asset management?

Asset management is the professional servicing of investments. Whether you’re establishing a new portfolio or looking to maximize existing assets, an asset manager helps you achieve investing goals.

Are wealth management fees worth it?

Ideally, a wealth management firm obtains a return on investment on a client’s assets to the point that the fees are more than covered. Discuss the cost of wealth management services compared with returns during your initial consultation.

Buffalo financial advisors company information

SmartAsset

SmartAsset offers free financial advice, tools and resources to help Buffalo residents take control of their finances. The company’s areas of focus include lending, investing, credit cards and retirement. SmartAsset also matches users with up to three local advisors for their personalized needs. SmartAsset’s other free tools include a mortgage calculator and tax calculator.

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Kevin L. Gibson CPA

Kevin L. Gibson CPA is an accounting firm based in West Seneca. Specialties include taxes, business accounting and financial planning, with services that can be tailored to a client’s needs. This firm also offers the services of an enrolled agent, who represents clients before the IRS. The company is located at 220 Orchard Park Road, West Seneca, NY 14224.

Kevin L. Gibson CPA

Equitable Advisors

As part of its financial planning services, Equitable Advisors helps clients with investments, life insurance, retirement planning and education savings. Its website features a learning center that includes helpful resources on subjects like retirement, life insurance, annuities and more. The company is located at 350 Essjay Road, Ste. 300, Williamsville, NY 14221.

Equitable Advisors

The Financial Guys

The Financial Guys is an independent wealth management firm that provides an extensive variety of financial services to customers throughout Western New York. The company offers a free initial consultation to walk prospective clients through a goal-focused approach to finances. The Financial Guys’ services are customizable, and the company also offers focused services, like women’s financial wellness and corporate planning. The company is located at 305 Spindrift Drive, Williamsville, NY 14221.

The Financial Guys