Port Chester, NY Financial Advisors and Resources

Financial Advisor Firms in Port Chester, NY



(833) 297-2587

181 Westchester Ave.
Suite 402
Port Chester, NY 10573

SEC#: 801-117457
Years in Business: 2 years

How Retirement-Friendly is Port Chester, NY?

  • Population: 29,342
  • % of Population 62 Years and Over: 16.2%
  • Average Home Value: $473,100
  • Average Monthly Housing Cost: $1,780
  • Average Household Income: $99,001
  • New York Total Tax Burden: 12.79% (Highest in U.S.)
  • New York Property Tax: 4.40% (6th Highest in U.S.)
  • New York Individual Income Tax: 4.96% (Highest in U.S.)
  • New York Sales and Excise Tax: 3.43% (22nd Highest in U.S.)

Port Chester, NY Financial Advisor FAQs

It is always better to have a fiduciary serve you, rather than someone who is not. A fiduciary is legally obligated to put your interests first while being sound of investment, tax, and estate planning. You should be wary if the advisor only focuses on one aspect while ignoring other areas which you'd want input on.
A financial advisor can help you come up with a plan for getting out of debt once and for all. With their understanding of your interests, an advisor can also lend sage advice that will help manage spending addiction or other addictive tendencies like gambling, so that you feel more rather than less in control. More importantly, they'll have the expertise to find creative solutions when times are tough -- finding ways to cut expenses so that payments are lower while maintaining necessary levels of service is just one example.
Typically, a financial advisor will put together a financial plan, monitor the investment portfolio to ensure it's on track with the goals of the plan, prepare tax returns and do other related tasks as they arise.
The cost of hiring a financial advisor can vary widely. Typically, financial planners start out charging between $100 and $200 per hour. Hourly fees are billed for planning sessions, where the planner takes time to assess your needs in various areas--investments, estate planning, retirement income-planning, tax preparation--in order to design a plan to address them in timeframes that best fit your specific situation. Financial advisors typically charge one fee for this all-inclusive advice package in terms of percentages instead of flat fees or hourly rates. The average hourly rate for these planners is somewhere between 1% and 2% of what you invest with them annually or value growth on the investments made through their recommendations.