The Top Financial Advisors in Towson, MD

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Greenspring Advisors is a fee-only firm that works with both high-net-worth and non-high-net-worth individuals, as well as pensions and profit-sharing plans, charities and corporations.

You generally won't need a minimum investment to open an account with Greenspring, although there is a $5,000 minimum annual fee. 

Advisors at the firm have held multiple certifications, including:

• certified financial planners (CFPs)
• accredited investment fiduciaries (AIFs)
• chartered retirement plan specialists, (CRPSs)
• enrolled agents (EAs)
• chartered financial analyst (CFA)
• certified divorce financial analyst (CDFA)
• chartered financial consultant (ChFC)
• chartered life underwriter (CLU)
• chartered advisor for senior living (CASL)

Greenspring Advisors Background 

Greenspring opened its doors in 2004. Its principal shareholders are Greenspring Wealth Management, Greg Hobson, Greg Plecher, Jeff Bernfeld and Mary Goetz. John Patrick Collins Jr., the firm's chief compliant officer and managing director, controls Greenspring Wealth Management with Matt Cellini and Robert Bogue.

Greenspring offers clients private money management and wealth planning services. For investment management services, which can be on a discretionary or non-discretionary basis, the firm collects fees based on a percentage of client assets. For financial planning and consulting, which can cover such areas as tax, retirement, estate and insurance planning, fees are billed at an hourly or fixed rate.

Greenspring Advisors Investment Strategy

Like many other firms, Greenspring's investment strategy is rooted in a thorough analysis of a client's financial profile. The firm takes into account factors like a person's risk tolerance, financial situation and goals when designing an appropriate asset allocation. The firm doesn't limit exposure to certain security types. Depending on the client, portfolios may invest in a range of securities, including:

• Exchange-listed securities
• Securities traded over-the-counter
• Corporate debt securities
• Certificates of deposit (CDs)
• Municipal securities
• Commercial paper
• Variable life insurance
• Variable annuities
• Mutual funds
• U.S. governmental securities
• Options contracts on securities
• Interests in partnerships investing in real estate

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WMS Partners is a fee-only firm that serves high-net-worth and non-high-net-worth clients, as well as pooled investment vehicles, pension and profit-sharing plans, charities and corporations.

The firm requires a $3 million account minimum but may waive or lower it at its discretion.

WMS Partners operates on a fee-only basis so it earns compensation only from its clients based on the services it provides. It doesn’t earn commissions or other compensation from third-party firms for selling or recommending their products like fee-based advisors might. 

WMS has an advisory team composed of numerous accredited professionals, which have included:

• chartered financial analysts (CFAs)
• certified financial planners (CFPs)
• certified public accountants (CPAs)
• personal financial specialists (PFS)
• accredited investment fiduciary (AIF)
• accredited wealth management advisor (AWMA)
• certified trust and financial advisor (CTFA)

WMS Partners Background 

WMS Partners has been in business since 1993. Eight equity partners currently own the firm. Timothy Chase, Martin Eby and David Citron hold the majority of shares. All remain active in the firm. 

The practice specializes in legacy planning and investment management. It also offers stand-alone financial planning services to its clients. 

WMS Partners Investment Strategy 

WMS Partners builds portfolios with asset allocations based on the client's personal factors such as risk tolerance, investment goals and time horizon. WMS Partners is an “open-architecture” firm that considers virtually the entire fund universe when building an asset allocation. This may include private funds and other exclusive investments.

When building customized portfolio for a client, advisors may use individual equities, fixed income securities like bonds, mutual funds, exchange-traded funds (ETFs) and private investment funds. 

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Red Oak Financial Group works with a mix of non-high-net-worth and high-net-worth individuals, as well as pensions and profit-sharing plans, charities and corporations.

The firm does not require a minimum investment for portfolio management services, though it charges clients a wealth management fee based on the market value of those assets at the end of the previous calendar quarter. These fees can range up to 1.5% annually.

Financial planning services are charged hourly at a fixed rate per engagement. These can range between $150 and $500 per hour. The firm says that fees are negotiable based on the type of service.

Clients may get charged brokerage fees, transaction fees and other related costs and expenses. However, Red Oak Financial Group says that its advisors do not take any portion of those commissions, fees and costs, which could pose a conflict of interest for clients.

Red Oak Financial Group Background 

Founded in 2013, Red Oak Financial Group is a registered investment advisor with the U.S. Securities and Exchange Commission (SEC) and organized as a limited liability company in Maryland. 

The firm is owned and operated by its managing member and chief compliance officer Christopher P. Compton. His father, Robert L. Compton, launched Compton Financial Group, LLC in 1978, which does business as Red Oak Financial. 

The firm specializes in financial planning, insurance management, retirement savings and insurance planning. But it can build a financial roadmap and help you with budgeting, debt management, trust fund management and estate planning. The firm can also guide clients on socially responsible investing (SRI). 

Red Oak Financial Group Strategy

Red Oak Financial Group takes into account your personal circumstances such as short- and- long-term investment goals, as well as your risk tolerance. It then creates various portfolio models and projects how they may perform based on your circumstances. The firm primarily relies on fundamental and technical forms of analysis to evaluate and select investments. Depending on your profile, it may invest in mutual funds, exchange-traded funds (ETFs), equities and fixed income.

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SFG Wealth Management is a fee-based firm that provides portfolio management and optional financial planning services to a diverse group of clients, including non-high-net-worth and high-net-worth individuals, as well as pensions and profit-sharing plans and corporations. 

Account minimums vary depending on the type of account you establish, ranging from $15,000 to $100,000 for certain services. The firm may collect fees as a percentage of your assets under management (AUM) or on a fixed fee or hourly basis depending on the types of financial planning services rendered. Additionally, the firm’s advisors may be members of third-party firms and may earn commissions from these firms for selling their products. Despite the conflict of interest that selling third-party products can induce, the firm abides by its fiduciary duty to always act in the client's best interest.

The SFG team holds multiple certifications, including:

• certified financial planner (CFPs)
• accredited asset management specialists (AAMS)
• accredited investment fiduciaries (AIFs)
• certified public accountants (CPAs)
• chartered life underwriter (CLU)
• chartered financial consultant (ChFC)

SFG Wealth Management Background 

SFG formed in 2004 and registered as an investment advisor with the SEC in 2016. Lawrence Leitch is the majority owner and serves as an advisor. Leitch holds the AIF, ChFC and CLU designations.

In addition to asset management services, SFG offers stand-alone financial planning services that can address topics like: 

• Retirement savings
• Estate planning
• Trust management
• Charitable giving
• Corporate and personal tax planning
• Corporate structure analysis
• Lines of credit evaluation
• Real estate analysis and mortgage/debt analysis

SFG Wealth Management Investment Strategy 

SFG’s investment strategy begins with a thorough analysis of your financial profile. It takes into consideration factors such as your risk appetite, investment goals, current financial situation and more to formulate your asset allocation. In constructing your portfolio, it may use stocks, bonds, mutual funds, exchange-traded funds (ETFs) and options. The firm uses an asset allocation strategy to identify an appropriate ratio of securities, fixed income and cash for a client's portfolio. 

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Black Diamond Financial is a fee-only firm that offers portfolio management and financial planning services to individuals, high-net-worth individuals, pension and profit-sharing plans, charities and corporations.

Clients typically need a minimum investment of $500,000, though the firm may waive or lower this requirement at its discretion.

The firm's team holds multiple certifications, including:

• certified financial planners (CFPs)
• chartered financial analyst (CFA)
• accredited investment fiduciary (AIF)
• certified public accountant (CPA)
• personal financial specialist (PFs)
• certified valuation analyst (CVA) 

The firm collects compensation on a fee-only basis. This means it earns money from its clients based on the services it provides and not from third parties. 

Black Diamond Financial Background 

Black Diamond began in 2007. Its principal owners are Matthew P. Goette and Lindsay D. Dryden IV (through his control of the Dryden Capital Management Trust).

Black Diamond can advise on financial planning topics that include retirement planning, education funding through tools like 529 college savings plans, trust and estate management and more. 

Black Diamond Financial Investment Strategy

Black Diamond says it “employs a disciplined, low cost, quantitative approach, emphasizing broad diversification and consistent exposure to publicly traded markets globally.” As a result, it typically invests in exchange-traded funds (ETFs) that offer exposure to different asset classes across global capital markets. Your asset allocation, however, will ultimately depend on the firm’s analysis of individual factors such as long-term investment goals and risk appetite. The firm may invest your assets across such securities as mutual funds, individual stocks, foreign issuers, options, fixed-income securities, real estate and certificates of deposit (CDs).

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Chesapeake Financial Advisors works with both non-high-net-worth and high-net-worth individuals, as well as pension and profit-sharing plans. 

Chesapeake Financial operates as a fee-only advisor. It earns its compensation solely from the clients for the services it provides, not from third parties. There is no account minimum.

Chesapeake Financial Advisors Background 

After logging time at Legg Mason and Ernst & Young, Thomas Taylor founded Chesapeake Financial in 1998. Taylor owns the business with Timothy Mudd, Craig Pohl and Katie Smith. All remain on staff. 

When you work with the firm, its advisors can assist you on a number of financial planning topics including: 

• Cash flow and debt management
• Savings
• Retirement planning
• Tax planning
• Trust management
• Estate planning
• Education funding
• Special needs planning
• Business succession
• Fringe benefits

Chesapeake Financial Advisors Investment Strategy

Chesapeake Financial takes an open-architecture approach. It considers an array of securities and investment strategies, including both passive and active, based on your personal circumstances. In constructing portfolios, the firm considers your risk tolerance and long-term investment goals, and may utilize the following:

• Exchange-traded funds (ETFs)
• Mutual funds 
• Index funds
• Actively managed funds
• Individual stocks
• Individual corporate and municipal bonds

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L.K. Benson & Company (LKB) serves high-net-worth and non-high-net-worth individuals. You don’t need a minimum investment to establish a relationship with the firm. 

The advisor team holds multiple certifications, including certified public accountants (CPAs) and personal financial specialists (PFSs). 

The fee-only firm earns compensation exclusively from its clients. LKB doesn’t collect commissions from third-party firms for selling or recommending their products. 

L.K. Benson & Company Background 

Lyle Benson opened the doors of his namesake firm in 1994. His son, Chris Benson, joined him in 2009. Together, they own the business and lead its staff. 

LKB offers a variety of financial planning and investment management services. These may include advice on retirement planning, education funding, cash flow, risk management and estate planning. In addition, the firm provides tax planning and preparation services. 

L.K. Benson & Company Investment Strategy 

LKB emphasizes asset allocation, portfolio rebalancing and keeping expenses low. It builds an asset allocation with specific mutual funds or exchange-traded funds (ETFs) that are in line with your risk tolerance, investing goals and other personal factors. The firm will then monitor this portfolio and makes adjustments it deems appropriate based on circumstances such as changing market conditions or your financial situation.

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Partnership Wealth Management (PWM) works with a mix of non-high-net-worth and high-net-worth individuals. This fee-based firm does not currently serve any institutional clients.

PWM does not require a minimum investment. However, it does charge clients a fee based on a percentage of assets under management, which can range between 0.50% and 1.50%.

As a fee-based firm, PWM advisors may get commissions from products that they buy or sell to clients. And this could pose a conflict of interest. However, the firm upholds a fiduciary standard that requires advisors to put the interests of their clients first. 

Partnership Wealth Management Background 

Founded in 2005, PWM is a registered investment advisor based in Towson, Maryland. 

The firm specializes in financial planning, investment management, retirement planning, insurance planning, education planning and estate planning. PWM also features specialized financial planning services for same-sex couples and women on its website.

Partnership Wealth Management Strategy

PWM takes into account your personal circumstances such as short- and- long-term investment goals, as well as your risk tolerance. It then creates various portfolio models and projects and how they may perform based on your circumstances. The firm primarily relies on fundamental and technical forms of analysis to evaluate and select investments. Depending on your profile, it may invest in mutual funds, exchange-traded funds (ETFs), equities and fixed income.

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The Simmons Partnership (TSP) works with a mix of clients that includes non-high-net-worth and high-net-worth individuals, as well as local governments.

Most of the firm’s client base is made up of non-high-net-worth individuals. TSP generally requires a minimum investment of $250,000 for portfolio management services, though it may waive or lower the requirement

TSP charges clients fees either based on a percentage of client AUM or on a fixed or hourly rate for specific financial planning services.

As a fee-based firm, TSP advisors who are insurance agents or brokers may earn commissions from third parties in their other capacities. Despite the conflict of interest that commission-based compensation may create, TSP is a fiduciary and must always act in your best interests. 

The Simmons Partnership Background 

James Darby Simmons, a certified financial planner (CFP), founded his namesake firm in 2011. He is the majority owner, while vice president Jennifer Ryan, a chartered retirement plan counselor (CRPC), has a small stake. 

TSP offers clients asset management, retirement plan consulting services, financial planning and a wrap fee program.

The Simmons Partnership Investment Strategy

The firm says that applying fundamental analysis to its securities research allows its advisors to assess what “the value of the security is and what we think it will be in the future.” It also occasionally uses technical analysis. The firm generally builds portfolios with a mix of mutual funds, stocks, bonds, exchange-traded funds (ETFs), closed-end funds, variable annuities and options. 

TLS Advisory Services is a fee-based advisory firm that offers the services of portfolio management and financial planning to individuals, high-net-worth individuals, charitable organizations, corporations and other businesses. As a fee-based advisor, there is a potential conflict of interest as its advisor can earn commissions for the sale of certain securities. However, the firm and its advisors must abide by a fiduciary duty to put the needs of each client first at all times. 

TLS Advisory Services Background 

TLS Advisory Services is a single advisor firm that was founded in 1996, which is one of the more experienced firms on the list. The firm is managed by Tom Schmidt and manages more than $140 million in assets under management today. 

TLS Advisory Services Strategy

TLS Advisory Services provides a variety of investment strategies that align with the needs of each individual client. For most clients, the firm will incorporate a concept of asset allocation or spreading investments among a number of asset classes that may include domestic stocks, foreign stocks, large and small-cap stocks, corporate bonds, mutual funds, ETFs, government securities and more.