With growing uncertainty in the markets today, businesses and high-net-worth individuals are turning to RIAs for their self-governing nature, fiduciary value, and sophisticated financial expertise. In an effort to shine a light on the RIA space, FINTRX explores three of the largest registered investment advisors (RIAs) based in Michigan...
1. Action Point Financial Planning, LLC (Fiduciary Financial Advisors) = ~$174M+ in AUM
Action Point Financial Planning, LLC (later renamed Fiduciary Financial Advisors) is a Grand Rapids, Michigan-based independent fee-only, financial planning and wealth management firm founded on the core principles of conflict-free, low-cost investment advice and behavioral economic-based financial planning for all investors. This value-focused firm seeks to remain prudent in both investing and financial planning decisions. Clients include individuals, families, and foundations. Fiduciary Financial Advisors work with investors from $10,000 to $20,000,000 and everywhere in between, as they do not believe in investment minimums.
- Founded: 2014 (legally established)
- Headquarters: Grand Rapids, MI
- Discretionary Assets: ~$170M+
- Non-Discretionary Assets: ~$3.9M+
- Total AUM: ~$174M+
- Specialties: Financial and retirement planning; investment and wealth management
2. Financial Architects, Inc. = ~$171M+ in AUM
Founded in 1985, Financial Architects, Inc. is a Farmington Hills, Michigan-based financial advisor empowering clients with a lifelong framework for making the most effective financial decisions. In 1989, firm co-founder, Ken Grace, began using a macro-economic planning process that allows our clients to measure the efficiency of every financial decision and put every financial planning tactic on trial. Working closely with a Financial Architect, participants will experience interactive and engaging discussions designed to identify their current financial condition across three spectrums – protection, savings assets, and growth assets. In the introduction to The Financial Architecture Experience, economic concepts and principles are introduced to lay the groundwork for future meetings and discussions. The firm's strategies are custom-engineered to help build wealth and minimize risk – all while allowing you to maintain your existing lifestyle. Financial Architects, Inc. works closely with each client to provide a blueprint for life planning.
- Founded: 1985
- Headquarters: Farmington Hills, MI
- Discretionary Assets: ~$141M+
- Non-Discretionary Assets: ~$30M+
- Total AUM: ~$171M+
- Specialties: Wealth and asset management, retirement planning, insurance, estate planning, pension plan analysis, employee benefits, macro planning, and financial architecture
3. Mattson Financial Services, LLC = ~$161M+ in AUM
Founded in 1976 by Gary Mattson, Mattson Financial Services, LLC is a Kentwood, Michigan-based financial advisor helping to achieve goals and desires with a fully customized plan. Its Financial Planning Center takes pride in providing comprehensive financial planning services to clients. The firm highlights four pieces of the retirement puzzle, which includes reviewing tax strategies, investments to provide stable income, estate plans, and insurance services. Mattson Financial Services embraces its role as a fiduciary, always acting in the best interest of its clients. The firm's comprehensive services integrate numerous aspects in an effort to provide a carefree retirement and multi-generational wealth.
- Founded: 1976
- Headquarters: Kentwood, MI
- Discretionary Assets: ~$161M+
- Non-Discretionary Assets: $0
- Total AUM: ~$161M+
- Specialties: Financial planning, retirement income planning, retirement planning, and retirement
In general terms, a registered investment advisor (RIA) is any firm advising or managing the wealth of high-net-worth individuals or institutions. Directly regulated by the Securities Exchange Commission (SEC), RIAs offer a wide range of financial services — from wealth and investment management to direct lending and personal finance education, etc. An important distinction regarding RIAs is the fiduciary obligation to always act in the best interest of their clients.
For more information on RIAs, check out our recent blog post: Exploring the Registered Investment Advisor (RIA) Channel, or visit the FINTRX Resource Library below.
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