Running a business isn’t easy, and that work can be even more challenging when the business you’re managing is a nonprofit. Sometimes, a little help is called for — and that’s where a trustworthy financial advisor comes in.
By outsourcing financial responsibilities to a trusted advisor, nonprofits and charitable organizations can free up their time, allowing them to get back to focusing on their real work: pursuing the organization’s mission. A financial advisor can help nonprofit managers analyze and manage cash flow, set financial goals, establish an investment plan, and more.
That’s why we here at investor.com applaud financial advisors who make it a part of their mission to work with nonprofits. To help nonprofit managers find a financial expert, we’ve compiled a list of Top Charitable Financial Advisor Firms. More than 7,000 firms were analyzed. Read on for more information about the rankings, and for the complete list of financial advisors.
Just like choosing a financial advisor to help manage your personal finances, the first step in hiring a financial planner or investment manager for a nonprofit organization is finding someone you trust. Ask other nonprofit organizations for recommendations, or select a handful of advisors from our list below. Then set up interviews, keeping the following questions in mind:
Here are some tips on what to look for in a financial advisor for your nonprofit:
Yes, a nonprofit absolutely can open a brokerage account and invest, and in fact, it might be a good way to grow assets over time, given the stock market’s historical rate of return. A nonprofit organization might want to focus on investing in companies that align with its own mission and values, but the growing number of so-called ESG investments makes that easy. ESG stands for environmental, social and governance, and is akin to socially responsible investing. ESG refers to companies that follow standards that are likely to appeal to socially conscious investors.
There’s another benefit to investing: A nonprofit that opens a brokerage account can let donors gift shares of stock to it, which might provide a valuable incentive to potential donors thanks to the tax benefits of gifting stock (the donor can avoid capital gains by gifting stock, instead of selling the stock and giving cash).
It’d be nice if we could give you a simple dollar amount here. But there are a slew of ways that financial advisors charge for their services, and a wide range of prices attached to each of those fee structures. (We can offer these seven key questions to ask about financial advisor fees.)
For example, a fee-only financial advisor might charge by the hour, by the service (e.g, for a “financial plan”), or for an annual retainer. Hourly fees can range from $200 to $500. Service costs will vary depending on the service, but, for example, a financial plan might cost $3,000 or more. With an annual retainer, costs will vary depending on the specific terms of the agreement.
"Our mission at investor.com is to be a trusted resource for Americans researching and comparing financial advisors. Because of our focus on consumer advocacy, we thought it was very important to highlight and recognize firms who have committed to helping charitable organizations, as oftentimes, these acts of service are not brought to the forefront."
— Jessica Hoelscher, investor.com director of data and research
The financial advisors listed below have been named the Top Charitable Financial Advisor Firms. More than 7,000 firms were analyzed to compile this list.* To be considered for the list, financial advisory firms must:
*Data compiled in May 2020.
Firm | Year Registered | Headquarters | % of Charitable clients | % of Charitable AUM |
1492 Capital Management | 2009 | Milwaukee, WI | 11% | 15% |
Accuvest Global Advisors | 2008 | Walnut Creek, CA | 10% | 18% |
Aetos Alternatives Management | 2001 | New York, NY | 24% | 40% |
Agincourt Capital Management | 1999 | Richmond, VA | 42% | 14% |
Alaska Permanent Capital Management CO | 1991 | Anchorage, AK | 23% | 11% |
Alesco Advisors | 2000 | Pittsford, NY | 17% | 47% |
Alphaone Investment Services | 2009 | Berwyn, PA | 19% | 26% |
American Trust Investment Advisors | 2001 | Lebanon, NH | 18% | 60% |
Angeles Investment Advisors | 2001 | Santa Monica, CA | 57% | 32% |
Appomattox Advisory | 2010 | New York, NY | 21% | 33% |
Arbiter Partners | 2011 | New York, NY | 11% | 11% |
Arcadia Investment Management Corp | 1987 | Kalamazoo, MI | 17% | 17% |
Ascension Investment Management | 2012 | Clayton, MO | 88% | 38% |
Ashford Capital Management | 1980 | Wilmington, DE | 22% | 28% |
Asset Strategy Consultants | 1998 | Hunt Valley, MD | 37% | 13% |
Aureus Asset Management | 2005 | Boston, MA | 10% | 70% |
Avivar Capital | 2015 | Los Angeles, CA | 100% | 100% |
Bahl & Gaynor | 1990 | Cincinnati, OH | 10% | 23% |
Bares Capital Management | 2005 | Austin, TX | 55% | 13% |
Beaton Management Co | 1984 | Haverhill, MA | 16% | 22% |
Blue Edge Capital | 2013 | Richmond, VA | 12% | 17% |
Boston Common Asset Management | 2002 | Boston, MA | 23% | 16% |
Broad Run Investment Management | 2012 | Arlington, VA | 22% | 12% |
Buckhead Capital Management | 2000 | Atlanta, GA | 18% | 65% |
Cambridge Associates | 1978 | Boston, MA | 56% | 55% |
Capricorn Investment Group | 2008 | Palo Alto, CA | 19% | 21% |
Cardinal Capital Management | 1995 | Greenwich, CT | 24% | 13% |
Checks & Balances | 2001 | Atlanta, GA | 13% | 10% |
Chelsea Management Company | 1971 | Los Angeles, CA | 11% | 12% |
Chicago Equity Partners | 2020 | Chicago, IL | 45% | 17% |
Clearbrook Investment Solutions | 2011 | New York, NY | 22% | 33% |
Cornerstone Advisors Asset Management | 2006 | Bethlehem, PA | 15% | 19% |
Cornerstone Capital | 1978 | Palo Alto, CA | 11% | 15% |
Cornerstone Capital | 2021 | New York, NY | 24% | 11% |
Cornerstone Management | 2004 | Norcross, GA | 28% | 76% |
Crescent Capital Consulting | 2022 | New Orleans, LA | 19% | 48% |
Crewcial Partners | 2004 | New York, NY | 86% | 92% |
Cullen, Patterson Capital Management | 2014 | Los Angeles, CA | 33% | 95% |
Cynosure Management | 2015 | Salt Lake City, UT | 20% | 40% |
DHK Financial Advisors | 1993 | Portsmouth, NH | 78% | 91% |
Delphi Management | 1983 | Boston, MA | 10% | 27% |
Disciplined Growth Investors | 1996 | Minneapolis, MN | 13% | 18% |
Eagle Capital Management | 1995 | New York, NY | 15% | 22% |
Ellwood | 2021 | Chicago, IL | 67% | 80% |
Essex Investment Management Company | 1998 | Boston, MA | 11% | 11% |
F L Putnam Investment Management Co. | 1984 | Wellesley, MA | 11% | 31% |
FEG | 2002 | Cincinnati, OH | 49% | 37% |
Fiduciary Investment Advisors | 2021 | Windsor, CT | 25% | 14% |
FiduciaryVest | 2005 | Atlanta, GA | 35% | 47% |
Fiducient Advisors | 1995 | Chicago, IL | 32% | 27% |
Focused Investors | 2006 | Los Angeles, CA | 30% | 11% |
Fourth Street Performance Partners | 1992 | Covington, KY | 41% | 83% |
GW Financial | 1983 | Costa Mesa, CA | 11% | 14% |
Garcia Hamilton & Associates | 1998 | Houston, TX | 31% | 15% |
Gerber Taylor Associates | 1999 | Memphis, TN | 24% | 42% |
Graypoint | 2005 | Albany, NY | 13% | 16% |
Grey Street Capital | 2017 | Chicago, IL | 16% | 14% |
Greycourt & Co | 2001 | Pittsburgh, PA | 14% | 15% |
Griffin Family Partners | 2016 | Nashville, TN | 17% | 27% |
HS Management Partners | 2007 | New York, NY | 35% | 47% |
Harpswell Capital Advisors | 2017 | New Gloucester, ME | 58% | 50% |
Harrington Investments | 1982 | Napa, CA | 13% | 13% |
IPEX | 2010 | Plymouth, MI | 53% | 86% |
Income Research + Management | 1987 | Boston, MA | 19% | 15% |
Iridian Asset Management | 1995 | Westport, CT | 41% | 23% |
JKMilne Asset Management | 2004 | Fort Myers, FL | 20% | 82% |
John W. Bristol & Co. | 1978 | New York, NY | 42% | 35% |
Lumina Wealth Management | 2017 | Wilmington, NC | 10% | 20% |
Mangham Associates | 1994 | Charlottesville, VA | 53% | 52% |
Mark Asset Management | 1987 | New York, NY | 14% | 14% |
Marvin & Palmer Associates | 1986 | Wilmington, DE | 14% | 15% |
McCutchen Group | 2007 | Seattle, WA | 21% | 15% |
Mill Creek Capital Advisors | 2006 | Conshohocken, PA | 12% | 24% |
Morant Wright Management Limited | 2006 | England | 33% | 33% |
Mount Vernon Associates | 1986 | Baltimore, MD | 10% | 22% |
Mozaic | 2008 | Beverly Hills, CA | 10% | 10% |
NEPC | 1990 | Boston, MA | 20% | 19% |
NEW Providence Asset Management | 2021 | New York, NY | 33% | 19% |
Neumeier Poma Investment Counsel | 1985 | Carmel, CA | 30% | 28% |
Newsouth Capital Management | 1985 | Memphis, TN | 21% | 23% |
Oak City Consulting | 2012 | Wake Forest, NC | 24% | 98% |
Offit Capital | 2007 | New York, NY | 15% | 20% |
Paragon Advisors | 1997 | Shaker Heights, OH | 11% | 11% |
Paul Comstock Partners | 1984 | Houston, TX | 12% | 25% |
Porter White Investment Advisors | 2005 | Birmingham, AL | 11% | 16% |
Raffa Investment Advisers | 2007 | Washington, DC | 50% | 66% |
Real Estate Management Services Group | 2022 | Naples, FL | 19% | 13% |
Regis Management Company | 2008 | Palo Alto, CA | 11% | 20% |
Richmond Capital Management | 1982 | Richmond, VA | 24% | 16% |
Roanoke Asset Management Corp | 1978 | Jersey City, NJ | 15% | 18% |
SIT Investment Associates | 1981 | Minneapolis, MN | 14% | 10% |
Sailingstone Capital Partners | 2022 | San Francisco, CA | 80% | 26% |
Sasco Capital | 1985 | Fairfield, CT | 17% | 14% |
Sawgrass Asset Management | 1998 | Jacksonville Beach, FL | 12% | 11% |
Sellwood Consulting | 2012 | Portland, OR | 44% | 61% |
Speece Thorson Capital Group | 1992 | Minneapolis, MN | 23% | 16% |
Strategic Investment Management | 1988 | Arlington, VA | 34% | 21% |
Summit Rock Advisors | 2007 | New York, NY | 21% | 16% |
Summit Street Capital Management | 2012 | New York, NY | 33% | 26% |
Syntrinsic Investment Counsel | 2008 | Denver, CO | 44% | 73% |
The Caprock Group | 2002 | Boise, ID | 11% | 14% |
Tillman Hartley | 1999 | Nashville, TN | 12% | 17% |
Towle & Co. | 1981 | St. Louis, MO | 14% | 13% |
Trillium Asset Management | 1982 | Boston, MA | 12% | 14% |
Twin Capital Management | 1990 | Canonsburg, PA | 14% | 18% |
Valicenti Advisory Services | 1983 | Elmira, NY | 10% | 10% |
Weaver C. Barksdale & Associates | 1984 | Nashville, TN | 13% | 12% |
YON Drake & Associates | 1995 | Columbia, SC | 100% | 84% |