Best Financial Advisors in Farmington

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
40+
Advisors
4.7/5.0
Average Rating

Farmington Financial Landscape

Farmington's economy is driven by energy, healthcare, and retail sectors. The city serves as a regional hub for commerce and services.

Major industries
Energy, Healthcare, Retail
Population
45.4K (metro: 45426)
Median household income
$54,000
Unique needs
Farmington requires tailored financial strategies due to its unique economic landscape and demographic profile.
Market Insights
Economic Growth
According to BEA (2023), Farmington's economy has shown resilience with a growth rate of 2.5% in the past year.
Wealth Demographics
According to Census (2023), the median income in Farmington stands at $54,000, reflecting the city's diverse economic base.
Advisor Specializations
Based on BLS (2023), financial advisors in Farmington are increasingly focusing on retirement planning and investment diversification.
Local Considerations
Cost of Living
According to BLS (2024), Farmington's cost of living is 10% lower than the national average, making it an attractive place to live.
Real Estate Market
According to Zillow (2024), the real estate market in Farmington is stable, with a median home price of $250,000 and steady demand.
Business Environment
According to Fortune (2024), Farmington's business climate is favorable, with incentives for small businesses and a supportive local government.

Top 5 Financial Advisors in Farmington

Morgan Stanley Financial Advisors
★ ★ ★ ★ ★ 5
Edward Jones - Financial Advisor: Angela M Brandt
★ ★ ★ ★ ★ 5
Heather Holmes - Morgan Stanley
★ ★ ★ ★ ★ 5
Oxford Wealth Advisors
★ ★ ★ ★ ★ 5
Edward Jones - Financial Advisor: Dennis M Gross, AAMS®
★ ★ ★ ★ ★ 5
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How to Choose the Right Financial Advisor

When selecting a financial advisor in Farmington, 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-Specific Expertise
For Farmington residents working in Energy, 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's energy sector concentration poses economic risks; diversify investments. Real estate may face volatility due to market fluctuations and natural disaster risks like flooding.

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Find Financial Advisors in Nearby Cities

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