Find a Financial Advisor in Lancaster County

Farms, workshops and a county that builds things

Lancaster County is the part of Pennsylvania people picture when they think of barns, buggies and roadside produce stands, and the farming is real. Dairy herds, poultry houses, hog barns, hay and corn fields cover a large share of the county, and farms here are often handed from one generation to the next. Around them sits a second economy of feed mills, equipment dealers, food processors, builders and cabinet shops, many of them family owned. Lititz is known for its candy and pretzel makers, Ephrata and Elizabethtown have small manufacturers and colleges, and the city of Lancaster has a busy downtown of restaurants, galleries and offices.

Health care and education add steady employment: Penn Medicine Lancaster General Health, Franklin and Marshall College in the city, Millersville University and Elizabethtown College. Tourism brings visitors from Philadelphia, New York and Baltimore, which supports inns, shops and farm stands. For a financial advisor, this is an unusual client base. A couple may own a paid-off farmhouse, a milking operation and no employer pension at all, while their neighbors teach at a school district with a defined benefit plan.

Lancaster County at a glance

According to the U.S. Census Bureau, 2020 to 2024 American Community Survey, the county has about 563,159 residents and a median household income of $86,959, above what many Pennsylvania counties report. Median home value is $301,100, and about 69.8 percent of homes are owner occupied, a high share that fits a county where families stay put.

The numbers describe a stable, older-leaning county with real home equity. They do not show the farm acreage, equipment and business value that sit outside household income, which is why a plan here often starts with a list of what you own rather than what you earn.

Pennsylvania taxes and rules that shape plans here

Pennsylvania charges a flat personal income tax, and it does not tax Social Security benefits. Retirement income that qualifies, such as distributions from many employer plans and IRAs taken after retirement age, is generally exempt from state income tax too. That is a real advantage for retirees, though some local taxes still apply and details depend on the type of plan and your age.

The unusual piece is the inheritance tax. Pennsylvania taxes property passing at death, and the rate depends on the heir: transfers to a spouse are treated differently from transfers to children, siblings or other people. Certain farm and business transfers to family members may qualify for special treatment if conditions are met. Local earned income tax and school district property tax vary by municipality, so two houses of the same value in different townships can carry different bills. Confirm current rules with the Pennsylvania Department of Revenue or a tax professional before acting.

Retirement planning in Lancaster County

Retirement here often starts with a question about the house. A couple in Manheim Township, both 62, with a $350,000 home and a modest 403(b) balance has to decide whether to stay, move to a smaller place in town, or head to a retirement community. A farmer at 66 may have no pension and no plan to stop working, only to hand more of the chores to a son. Each case calls for a different income plan.

Good retirement planning covers when to claim Social Security, how to draw from pre-tax and Roth accounts, how to cover health insurance before Medicare at 65, and what to do about long-term care. Pennsylvania’s treatment of retirement income helps, but federal tax on withdrawals and Medicare premiums still reward careful timing. Our retirement planning guide walks through the basics before you speak with anyone.

Life insurance in Lancaster County

Young families in places like Lititz, Mount Joy and Lancaster city often buy life insurance when a first child arrives. The usual first answer is term coverage sized to replace income and pay off a mortgage until the children are grown. Business owners and farm families have a second reason: insurance can fund a buy-sell agreement or give the heir who stays on the farm cash to equalize what siblings receive.

Permanent policies such as whole life or universal life suit narrower needs, such as an estate with a large illiquid asset or a special-needs child who will depend on support for life. Quotes vary widely by age and health, so compare more than one. Read our life insurance guide for the differences, and ask any agent to show you the cost of the policy over the full term of the policy.

Wealth management in Lancaster County

Wealth management makes sense when your finances have several moving parts that affect one another: a business, rental property, stock from an employer, an inheritance and a pension. In Lancaster County that often means a contractor who has built a company over thirty years, a physician group partner, or a family that owns several parcels. The advisor coordinates investments, tax planning, insurance and estate documents, usually with your accountant and attorney.

Fees are commonly a percentage of assets under management, so ask what is included. A fair arrangement spells out the services in writing and explains how the advisor is paid. If your situation is simpler, a planner or an investment advisor may fit better at a lower cost, and a good wealth manager will say so.

Farmland, preservation and passing on the operation

Lancaster County has one of the most widely known farmland preservation programs in the state, where landowners sell development rights and keep farming. A preservation easement lowers what the land can sell for on the open market, but it also locks in the farm, which can make succession easier or harder depending on the family. Pennsylvania’s Clean and Green program taxes qualifying land on its farm use value rather than its market value, with rollback taxes if the land changes use.

When a farm passes to the next generation, the questions stack up. Who runs it, who owns the land, and what do the children who leave get? Options include a limited liability company that holds the land, a lease to the operating child, installment purchases and life insurance to even out shares. An attorney who handles agricultural estates and an advisor who understands cash flow from a dairy or poultry operation should both be in the room.

Plain community households and planning

Lancaster County has one of the largest Amish and Mennonite populations in the country, and planning with these families calls for listening before advising. Many Plain households rely on mutual aid within the church rather than commercial health or life insurance, and some members hold a religious exemption from Social Security for self-employed work. That changes retirement math, because there may be no Social Security check to count on and savings, land and family support carry more weight.

An advisor should respect those choices, explain what a given product would and would not do, and avoid pushing anything the family does not want. Records matter too: clear deeds, written leases and a will make a transition smoother whatever the family believes about insurance.

Financial planners in Lancaster County

A financial planner writes the roadmap. You hand over income, debts, accounts and goals, and you get back a plan covering savings targets, debt payoff, insurance, college costs and retirement timing. Planners are the right call for a teacher couple in Ephrata trying to balance a mortgage and two college bills, or for a young nurse with student loans and no idea how much to save.

Some planners charge a flat fee for a one-time plan, others bill by the hour, and others fold planning into an ongoing relationship. Ask which you are buying and what you will receive at the end. See our financial advisor guide to compare types of professionals.

Investment advisors in Lancaster County

An investment advisor manages portfolios and is registered either with the SEC or with the Pennsylvania Department of Banking and Securities, depending on size. If you have a rollover from a former employer, a lump sum from selling a business or an inheritance to invest, this is the service that decides what to buy, how much to hold in each asset class and when to rebalance.

Look at the fee schedule, the investments used, and how the advisor handles taxes in a taxable account. Low-cost index funds and exchange-traded funds are common building blocks, and a sound advisor can explain why each holding is there. Our investing guide covers diversification and fees in plain language.

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Financial advisors in Lancaster County: costs and fees

The term financial advisor covers a wide range, from a planner billing hourly to a firm managing millions. Common pricing models include an annual percentage of assets, often around one percent and lower for larger accounts, a flat annual fee, an hourly rate and a one-time project fee. Commission-based products pay the seller from the product, which can create a conflict that you should ask about directly.

Before you sign, request the firm’s Form ADV and its client relationship summary, and ask whether the person acts as a fiduciary at all times. Advisors who serve Lancaster County by phone or video often cost the same as those with an office down the street, so you can widen your search without paying more.

Small business, tourism and the self-employed

A large share of Lancaster County workers run their own shop, farm stand, carpentry business or bed and breakfast. Self-employment brings retirement account choices such as a SEP IRA or a solo 401(k), quarterly estimated tax payments and the need for disability coverage, since no employer is providing it. Seasonal income from tourism or harvests makes cash flow uneven, so an emergency fund of several months of expenses is worth more than usual.

Many owners also have all their wealth tied up in the business. A plan that gradually builds savings outside it protects the family if the business slows or the owner cannot work. Our budgeting and saving guide helps with the first step.

How to choose a financial advisor in Lancaster County

Start with what you need: a plan, a portfolio, insurance or all of it. Then talk to at least two or three people. Ask how they are paid, whether they act as a fiduciary, what credentials they hold, who their typical clients are and whether they have worked with farm families or business owners if that is you. Check the SEC Investment Adviser Public Disclosure site and FINRA BrokerCheck for any history of complaints. Trust your sense of whether they listen and explain without jargon.

Areas we serve in Lancaster County

We connect households with advisors who serve the whole county by phone or video, including the city of Lancaster and surrounding communities such as Lititz, Ephrata, Elizabethtown, Manheim, Mount Joy, Columbia, Strasburg, Quarryville and Akron. Rural townships between these towns are covered too, and meetings can be scheduled around farm and work hours.

Frequently asked questions