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Find the Best Financial Advisors in Beaver Dam, WI

Residents of Beaver Dam and nearby towns in Wisconsin look to financial advisors for help managing money, setting financial goals and planning retirement. WiscNews has partnered with ConsumerAffairs to create this guide by comparing consumer reviews and local availability of 14 businesses and choosing five favorites from the top financial advisors in Beaver Dam.

Companies pay ConsumerAffairs to be accredited, and WiscNews 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 Beaver Dam

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Most financial advisors in Beaver Dam and southern Wisconsin offer free initial consultations, where you can ask questions and learn if the advisor and firm are a good fit for your situation. Consider asking these questions:

  • What services do you offer?
  • Are you registered and/or licensed? What credentials do you have?
  • How many years of experience do you have? How many clients do you work with?
  • Are you a fiduciary? Are you required to do what’s in my best interest?
  • What is your fee structure? Are you fee-only or do you accept commissions?
  • What is your philosophy on investing?
  • How often will we communicate?
  • Has anyone in your firm been subject to disciplinary action?

Interview multiple advisors and firms to find a financial advisor in Beaver Dam you are comfortable working with. You can also read reviews from clients to learn if they are satisfied with services. Remember, financial advisor firms and representatives in Beaver Dam who give investment advice must be registered. You can contact the Wisconsin Department of Financial Institutions Division of Securities to verify registration status.

How much does a financial advisor cost in Beaver Dam?

On average, financial advisory firms charge fees of 1% to 2% of assets under management per year. This means that if you have an account of $500,000, a financial advisor might charge $5,000 to $10,000 per year for ongoing portfolio management.

Financial advisors may also charge hourly or by a flat fee. Hourly fees (for example, for financial advice) tend to run from $100 to $300, while a flat rate for a comprehensive financial plan may be from $1,000 to $3,000.

Some financial advisors make commissions based on products they sell; this sometimes presents conflicts of interest, so be sure to ask an advisor for a detailed explanation of how it makes money.

What does a financial advisor do in Beaver Dam?

In Beaver Dam, residents have access to a variety of services from financial advisors. These services include the following:

  • Investing: Financial advisors can help you buy stocks, bonds, mutual funds and other investment products. Your portfolio can be customized according to your financial goals and tolerance for risk.
  • Wealth management: An advisor offering wealth management services looks at the entire picture of a client’s finances, including income, assets, upcoming life changes and more. They can help clients maintain and grow wealth and make financially responsible decisions.
  • Retirement planning: Retirement planning services help Beaver Dam residents prepare financially for life after work. Even if you’ve already retired, a financial advisor can help grow your retirement savings.

Beaver Dam financial advisors FAQ

What is a financial advisor?

A financial advisor is a professional who is qualified to help clients achieve their financial goals. A financial advisor may help a client develop a financial plan, save for education costs, plan for taxes, buy investment products and plan for retirement.

What is a fiduciary?

A fiduciary is a person who manages money or property on behalf of someone else. Fiduciaries are required by law to act in the best interest of their clients, not themselves.

What is an RIA?

A registered investment advisor is a person or business that provides investment advice in exchange for payment. In Wisconsin, investment advisors must register with the state or the Securities and Exchange Commission.

How much do I need to retire?

As a general rule, you want to be able to cover at least 70% of your pre-retirement income per year during retirement. A financial advisor can help you determine how much you need to retire.

How do you invest in the stock market?

To invest in the stock market, most investors work with brokers or firms. However, you can purchase stocks online or work with a local financial advisor to begin investing.

Beaver Dam financial advisors company information

SmartAsset

SmartAsset is an online research site offering free tools and a library of educational resources. Covered topics include loans, investments, credit cards, retirement, banking, insurance, refinancing and more. SmartAsset also provides a personalized financial advisor finder that matches Wisconsin residents with local professionals.

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BMO Harris Bank

BMO Harris Bank provides a variety of wealth management services. Its products are customizable to clients’ needs and include areas like trusts, estates, investments, retirement and more. BMO Harris Bank is a potential option for Beaver Dam residents looking to grow, protect or transition their wealth. The bank is located at 120 Park Ave., Beaver Dam, WI 53916.

BMO Harris Bank

Endowment Wealth Management

Endowment Wealth Management helps Beaver Dam residents accomplish their financial goals with a variety of financial planning services. Its specialties include retirement, businesses, investments, trusts and more. The company operates as a fiduciary, meaning its recommendations are based on the client’s best interests. It is located at 2810 Crossroads Drive, Ste. 4000, Madison, WI 53718.

Endowment Wealth Management

Edward Jones

Edward Jones has a nationwide network of financial advisors. The company’s advisors have specialties in estate planning, retirement and wealth management, offering clients a well-rounded approach to their finances. Check the Edward Jones website to learn more about the approach and personal philosophy of its local Beaver Dam advisor. A local branch is located at 201 Gateway Drive, Ste. 400, Beaver Dam, WI 53916.

Edward Jones

Modern Woodmen of America

The local advisor at Modern Woodmen of America offers planning services for investments and insurance needs to residents throughout Wisconsin. Membership is required to take advantage of the services, but the advisor can still answer questions for prospective clients without them joining the organization. Schedule a consultation to learn more about membership and services. Modern Woodmen of America’s local advisor has an office at 324 S. Spring St., Beaver Dam, WI 53916.

Modern Woodmen of America