Best Financial Advisors in Novi

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
4.8/5.0
Average Rating

Novi Financial Landscape

Novi's economy is diverse, with significant contributions from retail, healthcare, and technology sectors. The city is part of the Detroit metropolitan area, benefiting from regional economic activities.

Major industries
Retail, Healthcare, Technology
Population
57.9K (metro: 4.3M)
Median household income
$85,000
Unique needs
Novi requires tailored financial services to support its growing population and diverse industries.
Market Insights
Economic Growth
According to BEA (2023), Novi's economy has shown steady growth, with a focus on retail and healthcare expansion.
Wealth Demographics
According to Census (2023), the median income in Novi is approximately $85,000, reflecting a prosperous community.
Advisor Specializations
Based on BLS (2023), financial advisors in Novi are increasingly specializing in retirement and estate planning.
Local Considerations
Cost of Living
According to BLS (2024), Novi's cost of living is slightly above the national average, driven by housing and transportation costs.
Real Estate Market
According to Zillow (2024), Novi's real estate market is competitive, with rising home prices and limited inventory.
Business Environment
According to Fortune (2024), Novi offers a favorable business climate, attracting new companies and fostering entrepreneurship.

Top 5 Financial Advisors in Novi

Waldo Wealth Partners
★ ★ ★ ★ ★ 5
The Financial Center, LLC
★ ★ ★ ★ ★ 5
Blue Chip Partners
★ ★ ★ ★ ★ 5
Alliance Advisors Wealth Management LLC
★ ★ ★ ★ ★ 5
Russell Winkler Private Wealth Management of Raymond James
★ ★ ★ ★ ★ 5
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How to Choose the Right Financial Advisor

When selecting a financial advisor in Novi, 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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Novi-Specific Expertise
For Novi residents working in Retail, Healthcare, Technology, 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
Novi's tech and retail sectors face volatility; housing market risks include potential bubbles. Prepare for flooding and economic shifts by diversifying investments.

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