Find a Financial Advisor in Sarasota County

A Tuesday in a Sarasota County household

This is an example, not a real family. Gary and Denise, 63 and 61, sold their house outside Columbus last spring and bought a two-bedroom condo a few miles from downtown Sarasota. Gary retired from a manufacturing job with a small pension and a 401(k). Denise still works part time at a dental office. On Tuesday morning they sit on the lanai with a pile of mail: a condo association letter about a special assessment, a homeowners insurance renewal that went up, a statement from the old 401(k), and a notice about their Medicare enrollment window.

None of those items is hard alone. Together they raise a bigger question about how much the couple can spend, which account to draw from first, and what happens if one of them needs care. That is the work a financial advisor does, and the sections below show how the main kinds of help fit a household like theirs. Advisors who serve the Sarasota County area meet by phone or video, so a part-time resident can sit down in January or from the other home in June.

Sarasota County at a glance

According to the U.S. Census Bureau, 2020 to 2024 American Community Survey, the county looks like this.

A median age of 57.4 is far above the national figure, and the gap between median household income and per capita income tells you that many households are one or two people living on savings, pensions and Social Security rather than on paychecks. The advice that fits this county leans toward drawing money down safely as much as building it up.

Financial planners in Sarasota County

A financial planner looks at the whole picture and puts it on paper: income, spending, debts, insurance, taxes, goals and the order in which to tackle them. In Sarasota County the plan usually starts with a few local facts. Is the home a condo with a reserve problem? Is there a second property up north? Will one spouse keep working part time for a few more years?

For Gary and Denise, a planner would build a monthly spending number from real bills, including the association fee, flood and wind coverage and a travel budget they actually use. Then the planner would test that number against pension income, Social Security claiming ages and the 401(k), and show what happens in a weak market year. Many planners charge a flat fee for a plan, so you can pay once and carry it out yourself. Read our guide to budgeting and saving if you want to start with the monthly numbers.

Investment advisors in Sarasota County

An investment advisor manages or recommends the portfolio itself: how much sits in stocks, bonds and cash, which accounts hold which funds, and when to rebalance. Retirees in Sarasota County often arrive with a mix of accounts from several employers and several decades, each with a different fund menu. Consolidating them can lower fees and make the whole portfolio easier to read.

A good advisor will ask how much of your money you need within five years, because that slice should stay out of the stock market. The rest can be invested for a longer horizon. Ask whether the advisor is a fiduciary when giving investment advice, how they are paid, and what the all-in cost is after fund expenses. Our investing guide explains the basics in plain words.

Financial advisors in Sarasota County: what the cost looks like

Advisors charge in a few ways. Some take a percentage of the money they manage each year. Some charge a flat fee for a plan. Some bill by the hour, and some earn commissions on products they sell. None of these is automatically right, but each creates different incentives, so ask for the full cost in writing before you sign anything.

A household with a modest portfolio and a clear question, such as whether to claim Social Security at 62 or 67, may do well with an hourly or flat-fee meeting. A household with several accounts, a business sale or an inheritance may want ongoing management. A first meeting should cost you nothing, and a good advisor will explain the fee model without pressure. Our guide to choosing a financial advisor walks through the questions.

Wealth management in Sarasota County

Wealth management ties investing, taxes, insurance and estate planning together for households with larger balances. The county has plenty of them: longtime business owners, retired executives, and families who sold a northern home for a large sum and moved south. Expect the conversation to cover how to turn a big house sale into income, how to give to children or charity, and how to hold assets in a way that keeps probate simple.

Florida has no state income tax, so the tax planning focuses on federal items: capital gains on appreciated stock, required withdrawals from pre-tax accounts, and the timing of Roth conversions in the years between retirement and the start of required distributions. If you keep a home in a state that does tax income, your advisor and tax professional will also want to confirm which state treats you as a resident. Our estate planning guide covers wills, trusts and beneficiary forms.

Retirement planning in Sarasota County

With more than a third of residents at 65 or older, retirement planning here is less about saving and more about turning savings into a paycheck that lasts. Four decisions show up again and again. When to claim Social Security. Which accounts to spend first. How to handle Medicare choices and the gaps they leave. How much cash to keep so that you never have to sell investments during a bad year.

One common sequence is to spend taxable accounts first, let pre-tax accounts keep growing for a few years, and use low-tax years to convert part of an IRA to a Roth. Another is to claim Social Security later while drawing from savings, which raises the monthly check for life. The right answer depends on health, family history and other income. Our retirement planning guide covers the building blocks.

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Life insurance in Sarasota County

Life insurance needs change with age, and this county has every age. A working family in North Port with a mortgage and two children may need a term policy that covers the loan and the years until the kids are on their own. A couple in their seventies may care more about leaving money to heirs, covering estate costs, or replacing a pension that stops when one spouse dies.

Permanent policies can have a place in estate planning, but they cost more and the terms are complicated, so compare them with simpler options and ask what happens if you stop paying. Review beneficiaries after every move, marriage or death in the family. A policy from your old employer may not follow you to Florida. See our life insurance guide for plain definitions.

Florida rules that change the math

Florida levies no personal income tax on wages, pensions, IRA withdrawals or Social Security. That helps retirees, but it does not remove federal tax, and property taxes, insurance and sales tax still apply. Confirm current rules with the Florida Department of Revenue or a tax professional.

Two features matter for homeowners. The homestead exemption lowers the taxable value of your primary residence if you qualify and file on time, and the Save Our Homes cap limits how fast the assessed value can rise for that home. The cap can be carried to a new Florida home through portability in some cases. Anyone who bought recently should check that the exemption was filed with the county property appraiser before the deadline. Florida also has no state inheritance or estate tax, though federal estate rules can still apply to larger estates.

Condos, reserves and special assessments

A large share of homes in coastal Sarasota County are condominiums, and many were built decades ago. Florida tightened reserve and inspection rules for older condo buildings after the 2021 Surfside collapse, and some associations have since raised monthly fees or levied special assessments for roofs, balconies and concrete repairs.

Before buying, ask for the association budget, the reserve study, recent meeting minutes and any planned assessments. An advisor can fold those costs into your retirement budget and tell you how much of a surprise bill you could absorb without selling investments at a bad moment. A special assessment of $30,000 is far easier to handle when you have planned a cash buffer for it.

Storm season, flood and insurance gaps

Sarasota County sits on the Gulf, and its barrier islands, bays and low neighborhoods are exposed to hurricane wind and storm surge. Hurricane Ian in 2022 was a reminder of how much damage a single storm can do on this coast, and the 2024 season brought heavy surge to beach communities. Standard homeowners policies exclude flood, so many owners need a separate flood policy through the National Flood Insurance Program or a private carrier.

Check for these gaps: flood coverage on the home and contents, separate wind or hurricane deductibles, loss assessment coverage for condo owners, coverage for a golf cart or boat, and an umbrella policy. Write the list down, price each item and decide what to insure and what to self-fund. The premium difference between a lower and higher deductible is a planning decision as much as a quote.

Healthcare and long-term care costs

Sarasota County has a deep healthcare sector, with major hospital systems in Sarasota and Venice, and that is also why long-term care comes up so often. Medicare covers a lot but not extended custodial care. Families choose among savings, long-term care insurance, hybrid life policies with care riders, and Medicaid planning for those who qualify.

If one spouse needs care for years, the other still has to live on the remaining income. A plan that models that scenario at 70 is much cheaper to build than one scrambled together at 82. Ask your advisor to show the household budget with and without a care event.

Areas we serve in Sarasota County

Advisors who serve the Sarasota County area work with households in Sarasota, Venice and North Port, and in nearby communities such as Siesta Key, Osprey, Nokomis, Englewood, Longboat Key and Lakewood Ranch. Sarasota offers arts, downtown condos and a large medical sector. Venice draws many retirees to its beaches and golf communities. North Port is the county’s largest city by population and has newer, lower-priced housing that attracts working families and first-time buyers.

How to choose a financial advisor in Sarasota County

Use this checklist when you compare two or three advisors.

1. Ask whether they act as a fiduciary on all the advice they give you, and get the answer in writing.
2. Ask how they are paid and request the total annual cost in dollars for a household like yours.
3. Check their record on the SEC adviser search at adviserinfo.sec.gov or FINRA BrokerCheck.
4. Look for credentials such as CFP and ask what each one required.
5. Ask who their typical clients are and whether they work with retirees, business owners or families like yours.
6. Ask who holds your money. It should be a large independent custodian in your name, not the advisor.
7. Ask how often you will meet and whether meetings can be by phone or video if you split the year between homes.
8. Make sure you understand how to leave. A good advisor makes switching easy.

Frequently asked questions