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Best Detroit, Michigan Financial Planners

What to Look for in a Financial Planner

When seeking a financial planner in Detroit, Michigan, it’s essential to understand what qualities and credentials are crucial for a successful partnership. The right financial planner can make a significant difference in achieving your financial goals, whether you’re planning for retirement, managing debt, or investing. Here are some key factors to consider:

  1. Credentials and Experience: Look for financial planners with recognized credentials such as Certified Financial Planner (CFP), Chartered Financial Analyst (CFA), or Personal Financial Specialist (PFS). These certifications ensure the planner has undergone rigorous training and adheres to a code of ethics.
  2. Fee Structure: Financial planners can charge in various ways, including hourly rates, flat fees, or a percentage of assets under management (AUM). Understanding their fee structure can help you determine affordability and value for money.
  3. Fiduciary Duty: Ensure the planner is a fiduciary, meaning they are legally obligated to act in your best interest rather than prioritizing their commissions.
  4. Services Offered: Depending on your needs, you might require comprehensive financial planning, investment management, retirement planning, or tax advice. Make sure the planner offers the specific services you need.
  5. Client Reviews: Client testimonials and reviews can provide insights into the planner’s reliability, professionalism, and success in helping clients achieve their financial goals.
  6. Personal Fit: Finally, it’s essential that you feel comfortable with your financial planner. Trust and communication are key to a successful partnership.
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Top Financial Planners in Detroit

1. Verity Wealth Partners

Verity Wealth Partners is a well-regarded financial planning firm based in Detroit, Michigan, known for its comprehensive and personalized financial services. They offer a range of services including investment management, retirement planning, and financial coaching tailored to individual client needs.

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  • Address: 16824 Kercheval Place, Suite 202, Grosse Pointe, MI 48230
  • Phone: 313-290-2602
  • Email: info@veritywp.com
  • Website: Verity Wealth Partners
  • Services: Comprehensive financial planning, investment management, project-based financial planning.

Client Review Highlight

“Verity Wealth Partners helped me navigate a complex financial situation with professionalism and expertise. Their attention to detail and personalized approach made all the difference.”

2. Schwartz & Co.

Schwartz & Co. is a distinguished financial advisory firm offering a broad spectrum of services from investment management to pension consulting. They are known for their expertise in managing large assets and providing tailored financial advice.

  • Address: 3707 W. Maple, Suite 201, Bloomfield Hills, MI 48301
  • Phone: 248-644-2701
  • Email: info@schwartzco.com
  • Website: Schwartz & Co.
  • Services: Financial planning, pension consulting, investment management.

Client Review Highlight

“Schwartz & Co. provided excellent service in managing my retirement plan. Their team is knowledgeable and always available to answer my questions.”

3. Plante Moran

Plante Moran is a leading financial planning firm in Detroit with a strong focus on serving clients in the automotive industry. They offer a wide range of services including tax planning, retirement planning, and investment management.

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  • Address: 1098 Woodward Ave., Detroit, MI 48226
  • Phone: 313-496-7200
  • Email: info@plantemoran.com
  • Website: Plante Moran
  • Services: Tax planning, retirement planning, investment management.

Client Review Highlight

“Plante Moran’s team is exceptional in their understanding of complex financial needs. They have helped me streamline my financial strategy and plan for the future effectively.”

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4. Mainstay Capital Management

Mainstay Capital Management offers robust financial planning services with a focus on high-net-worth individuals. Their expertise spans from buyout analysis to comprehensive investment strategies.

Client Review Highlight

“Mainstay Capital Management’s advisors are top-notch. Their tailored advice and proactive approach have significantly benefited my financial health.”

5. Planning Alternatives

Planning Alternatives is known for its comprehensive and empathetic approach to financial planning. They provide services that cater to executives, entrepreneurs, and individuals undergoing significant life changes.

  • Address: 36800 Woodward Ave., Suite 200, Bloomfield Hills, MI 48304-0936
  • Phone: 248-645-1520
  • Email: info@planningalt.com
  • Website: Planning Alternatives
  • Services: Comprehensive financial planning, investment management, estate planning.

Client Review Highlight

“The team at Planning Alternatives took the time to understand my goals and crafted a financial plan that aligns perfectly with my needs. Highly recommend!”

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6. Antonelli Financial Advisors

Antonelli Financial Advisors provides holistic financial planning services, including college funding, legacy planning, and retirement strategies. They are transparent about their fees and provide personalized financial advice.

Client Review Highlight

“Antonelli Financial Advisors have been instrumental in helping me prepare for retirement. Their transparent fee structure and personalized service are unparalleled.”

Credentials to Look for in Financial Planners

When evaluating financial planners, certain credentials signify a high level of expertise and professionalism. These credentials ensure that the advisor has undergone extensive training and adheres to ethical standards.

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  1. Certified Financial Planner (CFP): This credential is awarded by the Certified Financial Planner Board of Standards and requires extensive education, experience, and passing a comprehensive exam.
  2. Chartered Financial Analyst (CFA): The CFA designation is granted by the CFA Institute and focuses on investment management and financial analysis.
  3. Personal Financial Specialist (PFS): Offered by the American Institute of Certified Public Accountants (AICPA), this credential is for CPAs who specialize in financial planning.
  4. Certified Investment Management Analyst (CIMA): This certification, provided by the Investments & Wealth Institute, focuses on asset allocation, ethics, due diligence, risk measurement, and performance measurement.
  5. Accredited Financial Counselor (AFC): This credential is awarded by the Association for Financial Counseling & Planning Education and focuses on personal financial counseling and education.
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Table: Credentials and Their Importance

Credential Issuing Organization Focus Area Importance
CFP Certified Financial Planner Board of Standards Comprehensive financial planning High
CFA CFA Institute Investment management, financial analysis High
PFS American Institute of Certified Public Accountants (AICPA) Financial planning for CPAs High
CIMA Investments & Wealth Institute Asset allocation, ethics, due diligence High
AFC Association for Financial Counseling & Planning Education Financial counseling, education Medium

Conclusion

Choosing the right financial planner in Detroit can significantly impact your financial well-being. By considering factors such as credentials, fee structures, fiduciary duty, and client reviews, you can find a planner who meets your needs and helps you achieve your financial goals. Whether you need comprehensive financial planning, investment management, or specific advice on retirement and estate planning, the financial planners listed in this article offer a range of services to guide you on your financial journey. Take the time to research and meet with potential advisors to ensure a good fit, and don’t hesitate to seek personalized, professional advice to secure your financial future.

For more detailed information and to schedule consultations, visit the respective websites of the financial planners mentioned in this article.

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