Best Financial Advisors in Binghamton

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
4.4/5.0
Average Rating

Binghamton Financial Landscape

Binghamton's economy is anchored in healthcare, education, and manufacturing. The city is experiencing gradual growth with a focus on revitalization.

Major industries
Healthcare, Education, Manufacturing
Population
46.4K (metro: 100K)
Median household income
$50,000
Unique needs
Binghamton requires investment in tech and infrastructure to enhance economic resilience.
Market Insights
Economic Growth
According to BEA (2023), Binghamton's economy is projected to grow at 2.5% annually, driven by healthcare and education sectors.
Wealth Demographics
According to Census (2023), the median household income in Binghamton is approximately $50,000, reflecting a diverse economic landscape.
Advisor Specializations
Based on BLS (2023), financial advisors in Binghamton are increasingly specializing in retirement planning and estate management.
Local Considerations
Cost of Living
According to BLS (2024), Binghamton's cost of living is 10% lower than the national average, making it an affordable place to live.
Real Estate Market
According to Zillow (2024), the real estate market in Binghamton is stable, with median home prices around $150,000, showing modest appreciation.
Business Environment
According to Fortune (2024), Binghamton's business climate is improving, with incentives for startups and a focus on local entrepreneurship.

Top 5 Financial Advisors in Binghamton

Hawkes Wealth Management, Inc
★ ★ ★ ★ ★ 5
Morgan Stanley Financial Advisors
★ ★ ★ ★ ★ 5
Merrill Lynch Financial Advisor James Freeman
★ ★ ★ ★ ★ 5
Edward Jones - Financial Advisor: Matthew Feldman
★ ★ ★ ★ ★ 5
Faithward Advisors
★ ★ ★ ★ ★ 5
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How to Choose the Right Financial Advisor

When selecting a financial advisor in Binghamton, 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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Binghamton-Specific Expertise
For Binghamton residents working in Healthcare, Education, 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
Binghamton's reliance on healthcare and education poses risks; diversify into tech. Real estate may face stagnation; monitor housing market trends. Flooding is a concern.

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