Best Financial Advisors for Young Adults

Nageshwar Das
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2 minute read
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Choosing the best financial advisor for young adults depends on your financial goals, budget, and preferences. Here are some highly recommended options for young adults seeking financial advice:


1. Robo-Advisors (Low-Cost, Automated Options)


Robo-advisors are ideal for young adults who want affordable, hands-off investment management.


  • Betterment: Offers goal-based investing, low fees (0.25% annually), and tools for retirement planning and savings.
  • Wealthfront: Provides automated portfolio management, financial planning tools, and a low fee (0.25% annually).
  • Ellevest: Focuses on helping women and young adults with goal-based investing and financial planning.


2. Online Financial Planning Services


These services combine technology with access to human advisors for a more personalized experience.


  • Facet Wealth: Offers flat-fee financial planning tailored to young adults, with no asset minimums.
  • SoFi Automated Investing: Combines low-cost robo-advising with access to certified financial planners.
  • Personal Capital: Provides free tools for budgeting and net worth tracking, plus access to financial advisors for a fee.


3. Traditional Financial Advisors


If you prefer in-person advice or have complex financial needs, consider a traditional advisor.


  • Fidelity Go: Offers low-cost managed accounts with access to human advisors.
  • Vanguard Personal Advisor Services: Provides personalized advice with a low fee (0.30% annually) and no high account minimums.
  • Local Certified Financial Planners (CFPs): Look for fee-only CFPs who specialize in working with young adults.


4. Free or Low-Cost Resources


If you're on a tight budget, these resources can help you get started:


  • Your Bank or Credit Union: Many offer free financial counseling or workshops.
  • Nonprofit Organizations: Groups like the National Foundation for Credit Counseling (NFCC) provide free or low-cost advice.
  • Online Resources: Platforms like NerdWallet, Investopedia, and The Balance offer free educational content.


Key Considerations for Young Adults


  • Fee Structure: Look for fee-only advisors (they charge a flat fee or hourly rate) to avoid conflicts of interest.
  • Services Offered: Ensure the advisor offers services tailored to your needs, such as student loan management, budgeting, or retirement planning.
  • Accessibility: Consider whether you prefer in-person, virtual, or automated services.
  • Credentials: Look for advisors with certifications like CFP (Certified Financial Planner) or CFA (Chartered Financial Analyst).

Best Financial Advisors for Young Adults
Best Financial Advisors for Young Adults


Top Picks for Young Adults


  • Best Robo-Advisor: Betterment or Wealthfront
  • Best Hybrid Service: Facet Wealth or SoFi
  • Best Free Resources: NerdWallet or Personal Capital


By starting early and choosing the right advisor, you can build a strong financial foundation for the future.

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Today | 19, February 2025