Categories > Other Services

Top 5 Best Financial Planners in Toronto

Top 5 Best Financial Planners in Toronto

  • Affordability: The first thing we checked was how affordable these companies were offering their services.
  • Service: Next, we checked the variation and quality of their services.
  • Customer service: We also considered how responsive and friendly their customer service was.
  • Credentials and experience: Lastly, we wanted to see how credible these companies were based on their experience and certifications.

Handling your finances in a dynamic city like Toronto can be challenging, to say the least. 

Whether you’re a rookie in your career saving up for a first car or a veteran planning to purchase a property for your family, you need proper investment advice. For this need, a financial planner can be your secret weapon! 

Fortunately for you, we’ve rounded up the best financial planners we can find in Toronto in this guide! We’ll dive into their areas of expertise, fees as well as some lowlights to help find the best one for your needs.

1. Bilyk Financial

Highlights: Legacy planning, insurance, investment management, tax planning

Website: https://bilykfinancial.com

Address: 4769 50 Ave, Vegreville, AB T9C 1L1, Canada

Contact details: +1 780-632-6770

Google reviews score5/5
Facebook reviews score5/5
Total reviews5/5
Score consistency 5/5
Affordability4/5
Service5/5
Variety5/5
Quality5/5
Customer Service4.5/5
Friendliness5/5
Responsiveness4/5
Credentials and Expertise4.5/5
Years of experience5/5
Certifications4/5

Pros

  • Solid selection of services
  • Over 50 years of experience

Cons

  • Above average rates

When it comes to longevity, one name that stood out to us the most during our search for the best financial planner in Toronto was Bilyk Financial. 

The company boasts 50+ years of experience under its belt, and we think that it has something to do with the selection of financial services it offers.

Bilyk Financial stands out with its top-notch investment management approach, precisely tailored to fit your needs. While most advisors start with asset allocation, they take a different route.

They first evaluate various strategies based on returns, volatility, and correlations, then blend them to create a portfolio that meets your goals.

This approach goes beyond stocks and bonds into alternatives, which can be great for generating income.

Portfolios include a mix of public equities, private equities, fixed-income, real estate, infrastructure, credit, and commodities. Their aim? Providing above-average, long-term returns while managing risk.

Plus, they make it a priority to regularly visit clients in each city they serve.

2. Buxton Financial

Highlights: Private corporate strategy, divorce settlements, pension decisions, fee-only planning

Website: https://www.buxtonfinancial.ca

Address: 150 King St W #232, Toronto, ON M5H 1J9, Canada

Contact details: +1 416-628-4502

Google reviews score4.9/5
TrustPilot reviews score4.2/5
Bark reviews score5/5
Total reviews4/5
Score consistency 4/5
Affordability4/5
Service4/5
Variety3/5
Quality5/5
Customer Service4/5
Friendliness5/5
Responsiveness3/5
Credentials and Expertise5/5
Years of experience5/5
Certifications5/5

Pros

  • Wide range of services
  • Fixed fees
  • Focuses on retirement

Cons

  • Can be tough to book at times
  • Limited range of financial planning services

Buxton Financial immediately piqued our attention because we liked its focus on retirement. We were further convinced by its services when we dug deeper about the person behind the reins of this firm, Marlene C. Buxton.

For starters, we appreciated Buxton’s passion towards making financial planning less stressful. She does this by focusing her craft on retirement planning, which covers various areas like pension decisions, divorce settlements, managing an inheritance, etc.

Buxton offers more to the table than just her passion though, as she also has the wits and knowledge to become a top financial firm in the country. She showcased this when she impressively scored the highest in Canada on her CFP exam back in 2015.

Accolades aside, one of the best things about this firm is that it offers a fixed fee for all its clients, regardless of the money they’re earning, age, etc. We can see this being a huge deal for those looking for a more economically wise choice with their retirement.

A recurring issue that previous clients have voiced during our interviews was that Buxton can be tough to book sometimes. By our guess, we think that this is because there’s only one certified financial planner on board.

One could see this as a quality-over-quantity situation, and agreeing with that sentiment won’t be hard. This is because Baxton has proven to be one of the top financial firms in Toronto multiple times.

3. Edward Jones

Highlights: Financial advisors, wealth strategies, investment services

Website: https://www.edwardjones.com/

Address: 1655 Bloor St W, Toronto, ON M6P 1A6, Canada

Contact details: +1 416-531-7911

Glassdoor reviews score4/5
Moneywise reviews score3.8/5
Total reviews3/5
Score consistency 3/5
Affordability4/5
Service4/5
Variety5/5
Quality3/5
Customer Service4/5
Friendliness5/5
Responsiveness3/5
Credentials and Expertise5/5
Years of experience5/5
Certifications5/5

Pros

  • Wide variety of financial advisors
  • Great selection of retirement strategies

Cons

  • Financial planners are only available online
  • Hard to track progress

Edward Jones is one of those companies that features tons of advisors, making it easy to reach out to them 24/7. 

At first, we thought that having this kind of roster could be overwhelming, but thankfully, they followed an effective process to help clients match with one of their advisors.

The process starts with the client taking a short quiz on their official website. Based on their answers, the website will present a list of candidates that can coincide with their preferences, needs, long-term goals, etc.

This list will also display each candidate’s background, focus areas and experience. Finally, the client can choose to set up a meeting with their chosen advisor.

We also liked how they offered a wide variety of investment strategies. We felt that this was one of their efforts to help newcomers grasp the different investments they can make using their hard-earned money.

However, there were two things that we didn’t particularly like with this company. Firstly, we didn’t appreciate how their financial planners are only available online, and we can also see this being an issue with potential clients.

Furthermore, we’ve heard from our interviews with their past clients that it’s a bit difficult for them to track their progress. This brings us to our next gripe, which is that they won’t pair you up with the same financial planner every time you reach out to them.

We can see this frustrating potential clients, especially those who are looking for a more traditional financial planning service. One where they can build a relationship with a single professional who fully understands their long-term goals.

4. Kismet Wealth Group

Highlights: Wealth management, investment management, mortgages and financing

Website: https://kismetgroup.ca

Address: 694 The Queensway, Etobicoke, ON M8Y 1K9, Canada

Contact details: +1 855-683-4381

Google reviews score5/5
Facebook reviews score4.8/5
Total reviews3/5
Score consistency 4/5
Affordability4/5
Service4/5
Variety3/5
Quality5/5
Customer Service4/5
Friendliness4/5
Responsiveness4/5
Credentials and Expertise4/5
Years of experience4/5
Certifications4/5

Pros

  • Features an in-house real estate team
  • In-depth wealth management service
  • Useful online portals

Cons

  • Geared more towards high-earning individuals
  • Limited range of services

Kismet Wealth Group was a firm that we discovered through word of mouth. It’s one of those big firms in the country that’s been around for quite some time.

The group was founded in 2012, but we felt like they were in the industry for much longer because of their untraditional and in-depth wealth planning services. 

One of the best things about this firm is that they structure their client’s assets optimally, minimising taxes and maximising returns. Some of their methods to achieve this include tax and estate planning, business transition planning and retirement planning.

Speaking of being untraditional, one thing that surprised us is that they feature an online portal for their clients. This portal comes complete with a dashboard that makes wealth tracking all the more accessible, especially for novices

They also offer risk management services, which from the name itself, help mitigate risk for the capital of their potential clients. They’re able to do this by deploying measures such as insurance planning and asset protection.

Of course, the main problem with this kind of firm is that it’s mostly geared towards high-earning individuals. This can be a pro or a con depending on who you’re asking, but it does somewhat limit its audience to a smaller demographic.

Furthermore, we felt that their services were somewhat limited compared to other firms at the same price point.

5. Kind Wealth

Highlights: Financial planning, investment consultations

Website: https://kindwealth.ca

Address: 3A, Swallowfield Courtyard, Wolverhampton Rd, Oldbury B69 2JG, United Kingdom

Contact details: +44 121 233 0611

Google reviews score5/5
Facebook reviews score5/5
Total reviews3/5
Score consistency 5/5
Affordability5/5
Service4/5
Variety4/5
Quality4/5
Customer Service4/5
Friendliness5/5
Responsiveness3/5
Credentials and Expertise4/5
Years of experience4/5
Certifications4/5

Pros

  • No hidden fees
  • Flat rates
  • Free initial consultation
  • Friendly customer service

Cons

  • Limited certified financial planners

If you’re someone who values transparency, one of the companies we can highly recommend is Kind Wealth. We first heard about them when they were recommended by word of mouth because of their fixed flat rates with zero hidden fees.

We were a bit sceptical at first, but upon checking out their website, there it was. All of their fees were published. 

This kind of transparency is greatly appreciated, especially by those who are just beginning their financial journey. Furthermore, it’s something that most firms don’t possess.

They also approach fees in a different way, as they only charge an annual rate. Plus, the rate that they’ll charge will depend on the client’s net worth since they provide advice on the entire financial situation and not just investments.

As for their services, they offer everything from investment planning, tax planning, risk management planning, etc. One of their services that stood out to us the most was their retirement planning because of their tax-efficient solutions.

Another service that we think will be appreciated by business owners is their exit planning. 

This service aims to give business owners a smooth exit when everything is said and done. Basically, they’ll handle everything from the legal, tax and management side to carefully plan and prepare for their client’s eventual exit from the business.

Our only gripe with this firm is that they only have two certified financial planners on board, making it hard to book them sometimes. If you manage to get a hold of them, however, you’re in good hands, as they offer beginner-friendly financial planning.

FAQs about Financial Planners in Toronto

Related topics