Find a Financial Advisor in Franklin County

Franklin County at work: trades, plants, farms and the drive east

Much of Franklin County is a place where people live in one town and earn a living in another. A large share of workers head east on Interstate 44 or Highway 50 toward the St. Louis area, and others stay close to home in manufacturing, construction, health care, retail and schools. Farms and cattle operations fill the rural roads between towns. The county seat of Union and the river town of Washington have their own downtown businesses, and Pacific and Sullivan sit along the interstate corridor.

The result is a household economy built on wages, overtime, small firms and a truck or two. A welder paid hourly, an electrician running a small business, a nurse on rotating shifts and a farmer with an off-farm job each face different risks. Pay may rise and fall with the season or a plant schedule, and benefits vary from generous to nonexistent. A solid plan starts by identifying which income is steady and which is not.

Franklin County at a glance

According to the U.S. Census Bureau, 2020 to 2024 American Community Survey:

• Population: about 108,090 in the 2025 estimate
• Median age: 41.8; share age 65 and older: 19.2%
• Median household income: $73,165; per capita income: $37,792
• Median home value: $227,600; median gross rent: $893 a month
• Median owner cost with a mortgage: $1,442 a month; owner occupied homes: 76.5%
• Bachelor degree or higher: 23.7%; unemployment rate: 4.3%

A household income of $73,165 goes a good way here, and rents near $893 are modest compared with the city. The tradeoff is time and mileage, which show up in the budget as fuel, repairs and replacement vehicles.

Wealth management in Franklin County

For many families here, wealth is tied up in a house, acreage, a shop or a company. Wealth management helps you see how those pieces relate to your savings and goals, and it brings tax, investment, insurance and estate questions into one conversation. Examples include a contractor near Union who wants to sell the business in ten years, a couple in Washington who inherited a parcel and a rental, and a family on a farm outside Sullivan trying to treat all the children fairly.

A good first step is a simple net worth statement with columns for what is liquid, what can be sold and what you plan to keep. Then discuss timing: which assets could fund retirement, which are meant to pass on, and which expose you to risk. Missouri is not a community property state, and how you title property matters, so ask an attorney how deeds, beneficiary designations and wills will work together. Confirm current tax rules with the Missouri Department of Revenue or a tax professional.

Investment advisors in Franklin County

Investment advisors manage portfolios or recommend funds, and the quality of that help depends on honest answers about your goals. Many people in the county have savings in a workplace plan, an IRA from a prior job and a bank account. An advisor can review the mix, compare costs and make sure your risk matches your timeline. Be wary of high commissions and anyone who promises results. Read our investing guide to get a feel for how diversification and fees work. If you own a business, ask how your personal portfolio should differ from the company, since the business itself already ties up your money in one place.

Retirement planning in Franklin County

Retirement planning is about turning savings and benefits into dependable monthly income. With 19.2% of residents 65 or older, many neighbors are working through these choices now. List your sources: Social Security, any pension, a 401(k), IRAs, rental income and possible sale of property. Then decide when to claim Social Security and how to draw from accounts. Our retirement planning guide explains the basics.

Missouri has made changes to how it taxes Social Security and other retirement income in recent years, so confirm current rules with the state or a tax professional. A couple at 63 who still carry a mortgage might compare working two more years against retiring now with a smaller budget. If you live in a rural area, include the cost of a long drive to specialists and the cost of home upkeep in your retirement budget.

Life insurance in Franklin County

If your family depends on an income from hourly work, a trade or a business, life insurance and disability coverage are the backbone of a plan. Term coverage lasting until the mortgage is paid and the children are grown is common for young families. For business owners, a policy can fund a buy-sell agreement or pay off a loan. Farm families often use coverage to equalize an estate when one child takes over the operation. Group coverage through work may be limited and may end when the job does. See our life insurance guide for the main types, then ask an advisor to compare quotes.

Financial planners in Franklin County

A planner pulls the whole picture into a written plan with priorities. Typical steps for a family in Pacific might be to build a three to six month cash reserve, pay off a car loan, add to a retirement account at work, and set up a college fund through a 529 plan. Our college savings guide covers the accounts. Planners also help with the annual tune-up: checking beneficiaries, insurance levels and withholding.

Financial advisors in Franklin County: paying for advice

Expect a few fee models. Some advisors charge a flat or hourly fee for a plan, others charge a percentage of assets, and some are paid commissions. Ask for the total cost in writing. The guide to financial advisors lists useful questions. A first consultation through this site is free.

Moving in, moving out

New residents often come from the St. Louis area looking for more space and a lower housing cost, accepting a longer drive. Some are retirees or families returning to their hometowns. Others leave for jobs elsewhere or move into town as farms change hands. When you move in, update your will, insurance and beneficiaries, and register vehicles for Missouri personal property tax. When you leave, plan the sale of your home and check how your new state will treat retirement income.

The commute, the truck and the monthly budget

A daily drive to the St. Louis area can add thousands of miles a year, and the cost of fuel, tires, repairs and a replacement vehicle belongs in the budget alongside the mortgage. Missouri also charges an annual personal property tax on cars and trucks, which can be a surprising bill for a household with several vehicles. Set aside a monthly amount for it. A household with a median owner cost of $1,442 a month with a mortgage should compare that with the total cost of transportation. Sometimes a job closer to home pays less but leaves more at the end of the month. Our budgeting and saving guide helps you work through the numbers.

Floods, tornadoes and what insurance may miss

The Meramec and Missouri rivers have caused serious flooding in the region, and spring storms bring tornado risk across eastern Missouri. Standard homeowners policies usually exclude flood, so ask about a separate policy if you live near a river or in a low area. Check wind and hail deductibles, which can be a percentage of the home value. Farm buildings, equipment and livestock need their own coverage review. Keep photos of belongings and store key papers somewhere safe. An advisor can look at the full list of policies, including umbrella and disability coverage.

Two rivers, three corridors: how the county is laid out

Franklin County is large, and where you live shapes how you spend. The Interstate 44 corridor through Pacific, Sullivan and the communities to the west is busy with trucking, retail and commuters. Highway 50 links Union and Washington to the St. Louis area, and many families live along it to be near both work and schools. The Missouri River forms the northern edge of the county, with fertile bottomland and river towns, while the Meramec River winds through the south and east.

A family in Washington might have two incomes, a mortgage on a historic neighborhood home and a long list of weekend projects. A couple on acreage near Sullivan might heat with wood or propane, keep a well and septic system, and drive twenty miles for groceries. A young worker in Pacific might rent for $893 a month, close to the county median, and save for a first home. Those are three different plans.

Property matters most. With 76.5% of homes owner occupied, equity is the largest piece of wealth for most households, and a home or land is not easily turned into cash. If your plan assumes a sale, think about what happens if prices soften or if the sale takes longer than expected. A cash reserve prevents forced sales and expensive borrowing. Our estate planning guide helps with the paperwork that keeps real estate from becoming a family dispute, including wills, powers of attorney and beneficiary forms.

Lastly, people in the trades often work without a benefits package. If you are self employed, consider a retirement account designed for the self employed, a plan for health insurance, and disability coverage in case an injury keeps you off the job. Ask a tax professional which accounts fit your business, since the rules differ by structure. An advisor can coordinate with your accountant so each decision supports the others.

Health costs, aging and family care

With a median age of 41.8 and nearly one in five residents age 65 or older, caring for aging parents while raising children is a real situation here. Medicare does not cover long-term custodial care, and nursing home costs can use up savings quickly, so many families look at long-term care insurance, hybrid policies or a plan to self-fund. Talk with parents early about where documents are kept, who holds a power of attorney and what their wishes are. Rural distance adds travel time, so think about how care will be arranged if a parent lives in a small town while you live in another. Build the cost of time off work into the plan, as caregivers often reduce hours and give up savings. A planner can model different scenarios so decisions are made calmly instead of during a crisis.

Areas we serve in Franklin County

Advisors who serve the area, by phone or video, work with households in Union, Washington, Pacific, Sullivan, St. Clair, New Haven, Villa Ridge and Gerald, and the rural communities between them.

How to choose a financial advisor in Franklin County

Write down what you need help with first. Then compare a few advisors on how they are paid, their experience with households like yours and how plainly they explain things. Look up their registration on the SEC and FINRA tools, and ask for references if you wish. Pick someone who listens before recommending anything.

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