Austin Wealth Management, LLC is a fee-based financial advisor firm in Austin, Texas. Available services at the firm include comprehensive wealth management, investment advisory services, financial planning and qualified retirement plan advisory services for businesses and other institutions.
Austin Wealth Management Background
Managing partners Kevin Smith and Daniel Davila III co-founded Austin Wealth Management in 2009.
The firm's team includes four certified financial planners (CFPs) andtwo one chartered financial analysts (CFAs).
Austin Wealth Management Client Types and Minimum Account Sizes
Austin Wealth Management is a firm focused on individual investors. It mostly works with individuals and high-net-worth individuals as well as their trusts and estates. Banks, corporations, small businesses, trusts and estates are common clients of Austin Wealth’s qualified retirement plan investment advisory services.
This firm does not require a minimum initial investment. Therefore, clients with any level of investable assets are technically eligible for Austin Wealth Management’s services.
Services Offered by Austin Wealth Management
The holistic wealth management service offered at Austin Wealth combines financial planning and investment advising. You can, however, choose to get financial planning as a standalone service. The firm’s available services include:
- Financial planning
- Personalized plan design and implementation
- Ongoing plan management
- Estate planning
- Retirement income planning
- Annuity review
- Education planning
- Insurance policy review
- Asset protection
- Tax management and planning
- Cash flow analysis
- Budgeting
- Wealth management
- Combination of financial planning and investment advisory
- Current financial situation review
- Asset allocation and investment strategy recommendations
- Rebalances
- Financial goal setting assistance
- Personal consultations as needed
- Risk management profile
- Investment research
- Quarterly portfolio statements
- Possible use of third-party money managers
- Qualified retirement plan advisory services
- Investment recommendations and monitoring
- Investment policy statement
- Fiduciary services
- Plan participant education
- 401(PRO)
- Investment recommendations and monitoring
Austin Wealth Management Investment Philosophy
Austin Wealth Management largely makes its investment decisions based on modern portfolio theory. This investing theory looks to maximize the return potential of your portfolio based on your risk tolerance. So if you have a high risk tolerance, you’ll open yourself up to better possible returns but also to higher levels of volatility. The opposite is true of risk-averse investors.
Because Austin Wealth’s aforementioned investment philosophy is so dependent on clients’ personal preferences, the firm may use a wide range of investments. Stocks, bonds, exchange-traded funds (ETFs), mutual funds, equity options and futures are some of its most typical investment choices.
Fees Under Austin Wealth Management
The premier service at Austin Wealth Management is wealth management, which includes both investment advisory and financial planning services. The financial planning portion of this service calls for a fixed monthly fee of $250, though the rate can vary. The investment advisory portion carries an annualized fee that’s charged quarterly, in arrears. the following chart shows the fee schedule for investment managemnet with financial planning.
| Wealth Management Investment + Financial Planning Advisory Fees | |
| Total Assets Under Management | Annual Fee |
| First $250K | Included |
| Next $250K | 0.90% |
| Next $500K | 0.80% |
| Next $500K | 0.70% |
| Next $500K | 0.60% |
| Next $3MM | 0.50% |
| Over $5MM | Negotiable |
This table shows the fee schedule for only investment management, without financial planning services.
| Wealth Management Investment + Financial Planning Advisory Fees | |
| Total Assets Under Management | Annual Fee |
| First $250K | 1.00% |
| Next $250K | 0.90% |
| Next $500K | 0.80% |
| Next $500K | 0.70% |
| Next $500K | 0.60% |
| Next $3MM | 0.50% |
| Over $5MM | Neogotiable |
If you want financial planning on its own, you’ll pay a much larger fixed fee of $2,500 to $20,000. Your rate will depend on the complexity of your situation.
Check out the table below to see how Austin Wealth Management’s fees for its investment management services compare to the national median. Note that these fees are only estimates and actual costs may vary.
What to Watch Out For
Austin Wealth Management is only registered with the SEC to conduct business in Louisiana and Texas. This could make the firm somewhat inaccessible to residents outside of these two states.
Some members of Austin Wealth Management’s staff also may act as independent insurance agents or registered representatives of broker-dealer Purshe Kaplan Sterling Investments. Advisors in these roles can earn commissions for the sale of specific insurance products and securities. Although this presents a conflict of interest, the firm is a fiduciary, meaning it must act in your best interest at all times.
Austin Wealth Management’s legal and regulatory record is completely void of disclosures.
Opening an Account With Austin Wealth Management
Calling Austin Wealth Management at (512) 467-2000 is the easiest way to set up a consultation with an advisor. On the contact page of the firm’s website, you can also fill out an email form with your name, phone number, email address and a concise description of your needs or questions. After you send this in, an Austin Wealth advisor will reach out to you.
Tips for Developing an Investment Plan
- If you find yourself a bit overwhelmed with investing or you simply don’t have the time to manage your own portfolio, you can always work with a financial advisor. Finding a qualified financial advisor doesn’t have to be hard. SmartAsset’s free tool matches you with up to three financial advisors who serve your area, and you can interview your advisor matches at no cost to decide which one is right for you. If you’re ready to find an advisor who can help you achieve your financial goals, get started now.
- Determining an asset allocation that matches your personal risk tolerance is the first step towards building a successful investment portfolio. SmartAsset’s asset allocation calculator can help you do this more easily. First, select the level of risk with which you’re comfortable. The tool will then recommend a standard asset allocation based on your risk tolerance level. Remember, though, that everyone’s situation is different, so this is not a one-size-fits-all approach.
