Find a Financial Advisor in Polk County

From the Capitol to the cornfields: how Polk County fits together

Polk County is the middle of Iowa, in more ways than one. Des Moines, the state capital, sits at the point where the Des Moines and Raccoon rivers meet. Around it are the older suburbs of Windsor Heights and Urbandale, the business and shopping corridors of West Des Moines and Clive, the fast-growing city of Ankeny to the north, and smaller communities such as Johnston, Altoona, Pleasant Hill and Bondurant. A short drive in any direction leaves the suburbs behind and puts you among soybean and corn fields. This page is about Polk County, Iowa only. Arkansas, Florida and a dozen other states also have a Polk County with different taxes and housing.

Commutes here are short by big-city standards. Interstates 235, 80 and 35 form a loop and cross at the metro, and a drive from Ankeny to downtown Des Moines usually takes a little over fifteen minutes outside rush hour. That shapes money decisions. Many households find they can live on one side of the metro, work on the other and skip the long train rides that define other regions. The saved time and lower housing costs leave room to save, though only if the plan sets that money aside before it is spent.

Polk County, Iowa at a glance

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

The county is young, well educated and more renter-heavy than many Iowa counties, with roughly a third of households renting. Owners pay about $1,741 a month with a mortgage, which leaves more room than in coastal metros. Those numbers describe a place where building savings early pays off for decades.

Wealth management in Polk County: finance, insurance and farm wealth

Des Moines is known as an insurance and financial services center, and the industry has produced many households with deferred pay, stock awards and sizeable retirement balances. Principal Financial Group, Wells Fargo and Nationwide all have large operations in the metro. Agribusiness adds another source of wealth, with seed and ag companies such as Corteva in Johnston and landowners in the rural townships who hold farmland.

A wealth manager brings investments, tax planning and estate work into one conversation. An example: a West Des Moines couple in their fifties, one a senior manager with company stock, the other a physician, with a house worth well above the county median and an inherited quarter section of farmland in a neighboring county. Their plan would cover when to sell shares, how to lease or sell land, how a charitable gift could reduce taxes and which documents keep the family on the same page. Farmland can produce income and also stir up family disputes, so a clear written plan helps. Our estate planning guide covers the basic documents.

Investment advisors in Polk County

An investment advisor builds the portfolio and watches it over time. Because so many Polk County households work in finance, they often come to the table knowing the jargon but still hold a pile of unreviewed accounts. The advisor’s value is discipline: a written target mix, a rebalancing schedule and fees you can see.

Think of a young couple in Ankeny, ages 33 and 31, who both contribute to workplace plans and want to start a taxable account too. An advisor can show how much risk fits their timeline, which funds keep costs low and how to avoid overlapping with the company stock they already hold. Ask whether the advisor uses commission products, how often you would meet and what the total fee is in dollars. Our investing guide covers the basics before you meet anyone.

Financial planners in Polk County: first homes, kids and debt

A financial planner works through the full household picture. Polk County has many first-time buyers and growing families, especially in Ankeny, Altoona, Johnston and Urbandale. A typical couple might be 30 and 29 with a new house, a baby, student loans and a car payment. They need a budget they can live with, an emergency fund and enough term life insurance to protect the mortgage.

Planners also help with college savings. Iowa has its own 529 plan with a state tax deduction for contributions, subject to limits, so confirm the current rules. Our college savings guide explains how the accounts work, and our budgeting guide helps you map out the first year. Renters, who make up a large share of the county, can use a plan to decide when buying makes sense and how much house the budget truly supports.

Financial advisors in Polk County: what to expect and what it costs

Financial advisors range from one-person practices to large firms. You may pay a percentage of the assets managed, a flat yearly fee, an hourly rate or commissions on products. A fair arrangement is one you understand and can compare. For a household with $250,000 invested, a percentage fee of one percent is about $2,500 a year. Ask what you receive for that money, such as a written plan, tax coordination and regular reviews.

Because Des Moines is an industry town, many neighbors, coworkers or relatives work in financial services, and it can feel awkward to say no to a friend. Compare at least two advisors, and give weight to the one whose process you can explain to someone else. Our guide to working with a financial advisor outlines the questions to ask.

Life insurance in Polk County: families, farms and businesses

Life insurance fits several situations here. Young families in the suburbs need term coverage that lasts through the mortgage and the children’s school years. Business owners, including contractors, restaurant owners and ag-related firms, may use policies to fund a buy-sell agreement or to give a spouse time to sell a company. Farm families also use insurance to equalize an inheritance, so one child can take the farm while others receive other assets.

Because Des Moines is a center for the insurance industry, you will find many carriers and agents. That is useful, but it also means you should compare quotes and understand the type of policy before you buy. Term policies are simpler, while whole and universal life include cash value and higher premiums. Our life insurance guide explains the differences.

Retirement planning in Polk County: Iowa tax changes and IPERS

Iowa has changed its rules in recent years in ways that favor retirees. Social Security is not taxed by the state, and Iowa now provides an exclusion for retirement income for people who reach a set age. Because rules and ages are adjusted by the legislature, confirm current rules with the Iowa Department of Revenue or a tax professional.

Many public workers in the county, including teachers, state employees and city staff, belong to IPERS, the Iowa Public Employees Retirement System, and plan around it. Picture a retiring couple in Urbandale, ages 65 and 63. He worked at a school district and will draw an IPERS pension, while she has a 401(k) from a private employer. They need to coordinate Medicare enrollment, decide how to draw from each account and decide whether to stay in their house. Our retirement planning guide outlines the sequence.

Taxes and paperwork in Polk County

Iowa has been lowering and simplifying its individual income tax, moving toward a flat rate. Because the schedule continues to change, check the current year’s rules before making large decisions such as Roth conversions or stock sales. Iowa also has been phasing out its inheritance tax, and the phase-out has changed who owes it, so confirm current rules with an estate attorney. There is no state estate tax.

Property tax bills vary by city and school district, and Iowa offers credits for some homeowners, including veterans and low-income seniors. Appeals must be filed within set windows. Keep your assessment notices, mortgage statements and a list of account numbers together, and keep beneficiary forms for IPERS, 401(k) and life insurance current, since those forms override a will.

Not sure which paperwork matters most?

Talk with an advisor who serves Polk County about taxes, beneficiaries and your next step.

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Rivers, tornadoes and the 2020 derecho

Des Moines sits at the meeting of two rivers, and the city flooded badly in 2008, which is why the levees and flood control around downtown matter to owners. Tornadoes, large hail and straight-line winds are regular spring and summer risks across the county, and the August 2020 derecho damaged roofs and trees across central Iowa. Homeowners insurance often carries a separate wind or hail deductible, so read your policy. Standard policies exclude flood, so ask whether a flood policy applies at your address. Winter blizzards and ice also strain budgets, and a cash reserve of several months of expenses is a sensible response.

Drake, state government and the hospitals

The Iowa Capitol, Drake University, the Iowa State Fair grounds and several hospital systems, including UnityPoint Health and MercyOne, make up a large share of employment. State employees and educators often have IPERS and 403(b) or 457 plans, hospital staff have their own retirement accounts and Drake faculty have university plans. Each has distinct rules for withdrawals, rollovers and survivor benefits, and a planner can help you put them in order.

Areas we serve in Polk County

We connect people with advisors who serve the Polk County area, including Ankeny, Des Moines, Urbandale and West Des Moines, along with nearby communities such as Clive, Johnston, Altoona and Windsor Heights. Advisors work by phone or video, so you can meet from home or the office.

How to choose a financial advisor in Polk County

Begin with the problem. If you are leaving a job with a pension, you need someone strong in retirement income. If you just received an inheritance of farmland, you may want an advisor with estate and land experience. Write down two or three questions before your first call.

Then check the basics. Ask how the advisor is paid, what the yearly cost will be in dollars and whether the firm is a fiduciary. Confirm credentials such as CFP and read the SEC and FINRA records for any complaints. A person who welcomes these checks is usually comfortable being checked.

Finally, choose someone who understands Iowa’s tax changes and whom you can reach between meetings. Meet by phone or video with at least two advisors, and sleep on the decision.

Renting, buying and moving up in the metro

Polk County has a large renter population, and the choice between renting and buying shapes savings for years. A couple renting a two-bedroom for a little over $1,100 a month, close to the county median rent, may find that a mortgage on a house near the county median costs noticeably more once insurance, property tax and repairs are counted. That does not make renting a mistake. It means the decision should be based on how long you plan to stay, how much you have for a down payment and how stable your jobs are.

Move-up buyers in Ankeny and West Des Moines face a different question: how much extra house is worth the extra monthly payment. A planner can show what a larger mortgage does to retirement saving and college funding before you sign. Newer subdivisions may also carry special assessments or association dues, so add those to the monthly cost. Buyers relocating for a job in the metro often ask about moving in from another state, and the answer is the same: price the whole year of housing, and look past the loan payment.

Frequently asked questions