Best Financial Advisors in Parma

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
4.7/5.0
Average Rating

Parma Financial Landscape

With a population of 80,429, Parma's economy is diverse, featuring manufacturing, retail, and healthcare sectors. The city benefits from its proximity to Cleveland's metropolitan resources.

Major industries
Manufacturing, Retail, Healthcare
Population
80.4K (metro: 2.1M)
Median household income
$54,000
Unique needs
Parma requires tailored financial advice to navigate its unique economic landscape and demographic shifts.
Market Insights
Economic Growth
According to BEA (2023), Parma's economy has shown modest growth, driven by local manufacturing and service industries.
Wealth Demographics
According to Census (2023), the median income in Parma is approximately $54,000, reflecting a stable middle-class community.
Advisor Specializations
Based on BLS (2023), financial advisors in Parma are increasingly focusing on retirement planning and estate management.
Local Considerations
Cost of Living
According to BLS (2024), Parma's cost of living is lower than the national average, making it an attractive place for families.
Real Estate Market
According to Zillow (2024), the real estate market in Parma is experiencing rising home prices, indicating potential bubble risks.
Business Environment
According to Fortune (2024), Parma's business climate is favorable, with incentives for small businesses and local entrepreneurship.

Top 5 Financial Advisors in Parma

North Coast Financial Consultants
★ ★ ★ ★ ★ 5
The Estate Planning Team, Inc.
★ ★ ★ ★ ★ 5
Integrity Financial - Ameriprise Financial Services, LLC
★ ★ ★ ★ ★ 5
Intentional Wealth Partners
★ ★ ★ ★ ★ 5
Strategic Wealth Partners, Ltd.
★ ★ ★ ★ ★ 5
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How to Choose the Right Financial Advisor

When selecting a financial advisor in Parma, 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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Parma-Specific Expertise
For Parma residents working in Manufacturing, Retail, 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
Parma's manufacturing focus poses economic risks; diversify investments. Housing market shows signs of volatility. Prepare for flooding and winter storms.

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Find Financial Advisors in Nearby Cities

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