Best Financial Advisors in Dothan

Find top-rated local financial advisors who can help you achieve your financial goals with personalized strategies and expert guidance.

Find an Advisor Estimated Advisor Fees
60+
Advisors
4.7/5.0
Average Rating

Dothan Financial Landscape

Dothan's economy is primarily driven by agriculture, healthcare, and retail. The city is experiencing steady growth, supported by a diverse economic base.

Major industries
Agriculture, Healthcare, Retail
Population
68K (metro: N/A)
Median household income
$50,000
Unique needs
Dothan's economy requires focus on healthcare and agriculture, with a need for enhanced infrastructure and workforce development.
Market Insights
Economic Growth
According to BEA (2023), Dothan's GDP growth has been stable, driven by healthcare expansions and agricultural productivity.
Wealth Demographics
According to Census (2023), the median income in Dothan is approximately $50,000, reflecting a moderate economic status.
Advisor Specializations
Based on BLS (2023), financial advisors in Dothan are increasingly focusing on retirement planning and wealth management.
Local Considerations
Cost of Living
According to BLS (2024), Dothan's cost of living is below the national average, making it an attractive place for families.
Real Estate Market
According to Zillow (2024), Dothan's real estate market shows moderate growth, with concerns about housing affordability.
Business Environment
According to Fortune (2024), Dothan's business climate is improving, with incentives for new businesses and expansions.

Top 5 Financial Advisors in Dothan

Magnolia Wealth Management
★ ★ ★ ★ ★ 5
CapSouth Wealth Management
★ ★ ★ ★ ★ 5
Edward Jones - Financial Advisor: Ron Sommer, CFP®|AAMS®
★ ★ ★ ★ ★ 5
Edward Jones - Financial Advisor: Greg Wakefield
★ ★ ★ ★ ★ 5
Edward Jones - Financial Advisor: Les Pinckard, AAMS®
★ ★ ★ ★ ★ 5
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How to Choose the Right Financial Advisor

When selecting a financial advisor in Dothan, consider these essential factors

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Fiduciary Standard
Prioritize advisors who commit to acting as fiduciaries 100% of the time, legally obligating them to put your interests first.
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Dothan-Specific Expertise
For Dothan residents working in Agriculture, Healthcare, Retail, consider advisors with specific experience in your industry's unique compensation and benefit structures.
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Fee Structure Transparency
Understand how your advisor is compensated—whether through fees, commissions, or a combination—and how this might influence their recommendations.
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Credentials
Seek advisors with recognized credentials such as CFP®, CFA, or ChFC designations, indicating advanced training and ethical standards.
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Communication Style
Choose an advisor whose communication approach matches your preferences regarding frequency, detail, and method of interaction.
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Risk Management Focus
Dothan's reliance on agriculture and healthcare poses risks; diversify into tech and manufacturing. Monitor housing market for bubble risks and prepare for tornadoes.

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Find Financial Advisors in Nearby Cities

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