Best Financial Advisors in Scranton

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
70+
Advisors
4.5/5.0
Average Rating

Scranton Financial Landscape

Scranton's economy is transitioning from traditional manufacturing to healthcare, education, and service industries. The city is experiencing moderate growth, driven by local investments and a skilled workforce.

Major industries
Healthcare, Education, Manufacturing
Population
75.8K (metro: 400K)
Median household income
$50,000
Unique needs
Scranton requires a focus on economic diversification and infrastructure improvement to support growth.
Market Insights
Economic Growth
According to BEA (2023), Scranton's GDP growth is projected at 2.5%, driven by healthcare and education sectors.
Wealth Demographics
According to Census (2023), the median household income in Scranton is $50,000, reflecting a stable economic base.
Advisor Specializations
Based on BLS (2023), financial advisors in Scranton are increasingly focusing on retirement planning and local investment strategies.
Local Considerations
Cost of Living
According to BLS (2024), Scranton'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), Scranton's real estate market shows stable prices with a slight appreciation trend, but affordability remains a concern.
Business Environment
According to Fortune (2024), Scranton's business climate is improving, with incentives for startups and small businesses in tech and healthcare.

Top 5 Financial Advisors in Scranton

Alliance Wealth Advisors
★ ★ ★ ★ ★ 5
LUNA Financial Services LLC
★ ★ ★ ★ ★ 5
CorePlan Wealth Management - Ameriprise Financial Services, LLC
★ ★ ★ ★ ★ 5
Abington Financial Group
★ ★ ★ ★ ★ 5
Merrill Lynch Wealth Management
★ ★ ★ ★ ★ 5
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How to Choose the Right Financial Advisor

When selecting a financial advisor in Scranton, 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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Scranton-Specific Expertise
For Scranton 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
Scranton's reliance on healthcare and education poses risks; diversify investments. Real estate is stable but watch for potential market bubbles. Flooding and winter storms are concerns.

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