Best Financial Advisors in Farmington Hills

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
80+
Advisors
4.6/5.0
Average Rating

Farmington Hills Financial Landscape

The city boasts a robust economy driven by sectors such as technology, healthcare, and retail. Its strategic location near Detroit enhances its appeal for businesses and residents alike.

Major industries
Technology, Healthcare, Retail
Population
81.3K (metro: 4.3M)
Median household income
$85,000
Unique needs
Farmington Hills requires tailored financial strategies to address its diverse economic landscape and demographic needs.
Market Insights
Economic Growth
According to BEA (2023), Farmington Hills has seen a steady economic growth rate of 3.2%, driven by technology and healthcare sectors.
Wealth Demographics
According to Census (2023), the median income in Farmington Hills is $85,000, reflecting a well-educated and affluent population.
Advisor Specializations
Based on BLS (2023), financial advisors in the area are increasingly specializing in tech and healthcare investment strategies.
Local Considerations
Cost of Living
According to BLS (2024), the cost of living in Farmington Hills is 10% higher than the national average, primarily due to housing costs.
Real Estate Market
According to Zillow (2024), the real estate market in Farmington Hills is experiencing rapid appreciation, with home values increasing by 7% year-over-year.
Business Environment
According to Fortune (2024), Farmington Hills offers a favorable business climate with low taxes and a supportive local government for startups.

Top 5 Financial Advisors in Farmington Hills

Blue Chip Partners
★ ★ ★ ★ ★ 5
AFS Financial Group
★ ★ ★ ★ ★ 5
Edward Jones - Financial Advisor: Steve Chang, CFP®|AAMS®
★ ★ ★ ★ ★ 5
Steven M. White Financial, LLC
★ ★ ★ ★ ★ 5
Retirement & Wealth Strategies (RWS Financial Group)
★ ★ ★ ★ ★ 5
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How to Choose the Right Financial Advisor

When selecting a financial advisor in Farmington Hills, 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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Farmington Hills-Specific Expertise
For Farmington Hills residents working in Technology, 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
Farmington Hills' tech and healthcare sectors face concentration risks. The real estate market shows signs of bubble potential; diversify investments. Monitor flooding risks and economic shifts.

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