Best Financial Advisors in Lake Charles

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
70+
Advisors
4.6/5.0
Average Rating

Lake Charles Financial Landscape

Lake Charles has a diverse economy, primarily driven by the energy sector, tourism, and manufacturing. The city is experiencing growth, attracting new businesses and residents.

Major industries
Energy, Tourism, Manufacturing
Population
74K (metro: 740K)
Median household income
$50,000
Unique needs
Lake Charles requires strategic economic diversification and infrastructure improvements to support growth.
Market Insights
Economic Growth
According to BEA (2023), Lake Charles has seen a 3% growth in GDP, driven by energy and tourism sectors.
Wealth Demographics
According to Census (2023), the median income in Lake Charles is $50,000, reflecting local economic conditions.
Advisor Specializations
Based on BLS (2023), financial advisors in Lake Charles are increasingly focusing on retirement planning and investment strategies.
Local Considerations
Cost of Living
According to BLS (2024), the cost of living in Lake Charles is 10% lower than the national average, making it an attractive place to live.
Real Estate Market
According to Zillow (2024), home prices in Lake Charles have increased by 5% over the past year, indicating a competitive market.
Business Environment
According to Fortune (2024), Lake Charles is fostering a supportive business climate with incentives for new startups and expansions.

Top 5 Financial Advisors in Lake Charles

Generation Wealth
★ ★ ★ ★ ★ 5
Joe David Gentry - Financial Advisor, Ameriprise Financial Services, LLC
★ ★ ★ ★ ★ 5
Mulvey & Associates - Ameriprise Financial Services, LLC
★ ★ ★ ★ ★ 5
Terrell & Associates, LLC
★ ★ ★ ★ ★ 5
Edward Jones - Financial Advisor: Bill Hambor
★ ★ ★ ★ ★ 5
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How to Choose the Right Financial Advisor

When selecting a financial advisor in Lake Charles, 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 Charles-Specific Expertise
For Lake Charles residents working in Energy, Tourism, Manufacturing, 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 Charles' heavy reliance on energy exposes it to market volatility. Real estate is at risk from hurricanes and flooding; diversify investments to mitigate these risks.

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Find Financial Advisors in Nearby Cities

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