Best Financial Advisors in Detroit

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
680+
Advisors
4.8/5.0
Average Rating

Detroit Financial Landscape

Detroit's economy is diversifying beyond automotive, with growth in tech and healthcare. The city is revitalizing its urban core, attracting new businesses.

Major industries
Automotive, Technology, Healthcare
Population
688K (metro: 4.3M)
Median household income
$52,000
Unique needs
Detroit requires strategic investment in tech and housing to ensure sustainable growth and mitigate risks.
Market Insights
Economic Growth
According to BEA (2023), Detroit's GDP growth is projected at 3.5%, driven by tech and healthcare sectors.
Wealth Demographics
According to Census (2023), the median income in Detroit is $52,000, reflecting economic recovery and growth.
Advisor Specializations
Based on BLS (2023), financial advisors in Detroit are increasingly specializing in real estate and tech investments.
Local Considerations
Cost of Living
According to BLS (2024), Detroit's cost of living is lower than the national average, making it attractive for new residents.
Real Estate Market
According to Zillow (2024), Detroit's housing market is recovering, with prices rising but still affordable compared to national trends.
Business Environment
According to Fortune (2024), Detroit's business climate is improving, with incentives for startups and tech firms.

Top 5 Financial Advisors in Detroit

Center for Financial Planning, Inc.®
★ ★ ★ ★ ★ 5
Master Mind Financials LLC
★ ★ ★ ★ ★ 5
SGH Wealth Management
★ ★ ★ ★ ★ 5
Fiduciary Financial Advisors
★ ★ ★ ★ ★ 5
Royal Oak Financial Advisors
★ ★ ★ ★ ★ 5
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How to Choose the Right Financial Advisor

When selecting a financial advisor in Detroit, 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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Detroit-Specific Expertise
For Detroit residents working in Automotive, Technology, Healthcare, 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
Detroit's heavy reliance on automotive poses risks; diversify into tech and healthcare. Real estate is volatile; watch for market bubbles. Flooding and winter storms are concerns.

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Find Financial Advisors in Nearby Cities

Explore financial advisor options in these nearby Michigan locations

Detroit Grand Rapids Warren Sterling Heights Ann Arbor Lansing Flint Dearborn