Best Financial Advisors in Lake Elsinore

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
50+
Advisors
4.5/5.0
Average Rating

Lake Elsinore Financial Landscape

The economy of Lake Elsinore is primarily driven by retail, healthcare, and tourism. The city benefits from its proximity to larger metropolitan areas, enhancing economic opportunities.

Major industries
Retail, Healthcare, Tourism
Population
57.5K (metro: N/A)
Median household income
$65,000
Unique needs
Lake Elsinore's growth necessitates infrastructure improvements and sustainable development to support its expanding population.
Market Insights
Economic Growth
According to BEA (2023), Lake Elsinore's economy has seen a growth rate of 3.5%, driven by retail and tourism sectors.
Wealth Demographics
According to Census (2023), the median income in Lake Elsinore is $65,000, reflecting a diverse economic base.
Advisor Specializations
Based on BLS (2023), financial advisors in the area are increasingly focusing on retirement planning and real estate investment strategies.
Local Considerations
Cost of Living
According to BLS (2024), the cost of living in Lake Elsinore is 10% lower than the California average, making it an attractive location for new residents.
Real Estate Market
According to Zillow (2024), home prices in Lake Elsinore have appreciated by 8% over the past year, indicating a competitive real estate market.
Business Environment
According to Fortune (2024), Lake Elsinore's business environment is favorable, with supportive local policies encouraging small business growth.

Top 5 Financial Advisors in Lake Elsinore

Edward Jones - Financial Advisor: Robert M Hickox, ChFC®|CPWA®|CIMA®|CEPA®|ChSNC®|RICP®|ABFP®|CLU®|ADPA®
★ ★ ★ ★ ★ 5
Abundant Wealth Management, Inc. - ALLEN MONTEMAGNO Jr. - LPL Financial Advisor
★ ★ ★ ★ ★ 5
Edward Jones - Financial Advisor: Shane W McCoy, CIMA®|CRPC™
★ ★ ★ ★ ★ 5
Enduring Wealth Advisors®
★ ★ ★ ★ ★ 5
Driven Financial
★ ★ ★ ★ ★ 5
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How to Choose the Right Financial Advisor

When selecting a financial advisor in Lake Elsinore, 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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Lake Elsinore-Specific Expertise
For Lake Elsinore residents working in Retail, Healthcare, Tourism, 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
Lake Elsinore's tourism reliance poses economic risks; housing market volatility may lead to bubbles. Flooding and wildfires are significant natural threats—diversify investments.

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