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Best Investment Advisors for Nonprofit Organizations

Published on June 30, 2022


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.


» Jump to the list.



How do I choose an investment company for my nonprofit?


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:


  • Does the financial advisor answer your questions in a way you understand?
  • Do they understand and support your organization’s mission and values?
  • Are they prepared to create an investment plan that aligns with your organization’s mission and values?
  • Do they have experience with your type of nonprofit — have they worked with organizations that are about the same size, with a similar organizational structure?

What should a nonprofit look for in a financial advisor?


Here are some tips on what to look for in a financial advisor for your nonprofit:


  • To avoid conflicts of interest, look for an advisor who is “fee-only.” That tells you they’re not earning commissions by selling you overpriced products.
  • Find an advisor who is a fiduciary. That means they’re focused on your best interests. (Wondering where to find a fiduciary? Look no further than our list of Trusted advisors, below.)
  • Ask if the advisor is willing to help you with all of your financial goals. Are they focused solely on managing your investments?
  • Assess whether your financial advisor has experience working with nonprofits like yours.
  • Look for an advisor who has a schedule that aligns with yours. Will the advisor have time to meet regularly with your board of directors, if need be? Do they prefer phone consultations whereas you require in-person meetings?

Can a nonprofit make investments?


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).


What is a typical charge for a financial advisor?


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 investor.com rankings


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:

  • Qualify as Trusted by investor.com, based on our Trust algorithm.
  • Have a clean disciplinary history.
  • Have at least 10% or more of their total client base with charitable organizations.
  • Have at least 10% or more of total assets under management with charitable organizations.

*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%