Finding a Top Financial Advisor Firm in Arlington, Texas
It can be challenging to find the right financial advisor because there are many competing for your business. That’s why SmartAsset put in the work to help you find the top financial advisor firms in Arlington, Texas. This list of the top Arlington financial advisor firms comes from hours of research into the city’s firms. We lay out our findings below and explain what differentiates these firms from each other. If you want more help with your search, SmartAsset’s financial advisor matching tool can pair you with a financial advisor near you.
How We Found the Top Financial Advisor Firms in Arlington, Texas
To create this list of top financial advisor firms, SmartAsset considered all U.S. Securities and Exchange Commission (SEC)-registered firms in Arlington, Texas. We specifically looked at SEC-registered firms because of their fiduciary duty to put clients’ best interests ahead of their own. We eliminated firms with disciplinary issues so only firms with clean records made it to our final list for consideration. We also eliminated firms that did not manage individual accounts or did not have financial planners on staff. The remaining firms were sorted according to assets under management (AUM), from highest AUM to lowest.
Baker Financial Services
Baker Financial Services is a fee-based financial advisor firm with $320 million in assets under management (AUM). The firm is fee-based because in addition to portfolio management fees, advisors can earn commissions from selling insurance products like life insurance and fixed annuities.
Baker Financial Services has four financial advisors on staff. Two of them hold the certified financial planner (CFP) designation. Another advisor is a chartered life underwriter (CLU), a designation that focuses on life insurance.
More than three-quarters of the firm’s clients are individuals. The firm also works with high-net-worth individuals, pension and profit sharing plans, IRAs, 401(k) participants, trusts, estates, charitable organizations, corporations and other business entities. There is no set minimum for opening or maintaining an account with Baker Financial Services.
Baker Financial Services Background
Gerald Baker started Baker Financial Services in 1984. It’s been a registered investment advisory (RIA) firm since 1999. Baker is the sole owner of the firm.
Baker Financial Services provides clients with portfolio management services, financial planning services and consultation services. Portfolio management is available only to clients, but non-clients can receive investment advice on a limited basis for a fee. Financial planning includes everything from personal budgeting to managing a 401(k) to following a retirement plan. Consultation services include many of the same planning services that are available to clients.
Baker Financial Services Investing Strategy
Baker Financial Services’ investment philosophy revolves around preserving a client’s capital, taking a long-term investing view and using a passive investing approach over an active investing approach.
Advisors create client portfolios to be diversified across multiple asset classes. The classes commonly used include large, mid and small capitalization domestic stocks, international stocks, real estate and commodities.
Parkstone Wealth Management, LLC
Parkstone Wealth Management is a fee-only financial advisor firm that primarily serves professional athletes. The firm does also serve other individuals, as well as trusts, estates, charitable organizations, corporations and business entities.
A small staff of three advisors, at least one of whom is a certified financial planner (CFP), manages the firm’s $105.2 million in assets under management (AUM). A minimum annual fee of $25,000 is required to open and maintain an account with Parkstone Wealth Management
Parkstone Wealth Management, LLC Background
Parkstone Wealth Management was founded in 2013 by Cheryl F. Quisenberry and Chester A. Straily. Both are the firm’s sole owners.
The firm offers clients a number of financial planning services. These include help with cash flow and budgeting, education funding, mortgages, charitable planning, estate planning, retirement planning and business planning.
Many of these services are available to clients through the firm’s online tools, which are accessible through clients’ personalized online accounts. For example, you can create a personalized budget and track your spending across multiple categories. You can also link investment accounts as well as other accounts to see your full financial picture, and you can set financial priorities, create goals and then receive constant feedback on how you are tracking toward your goals. These tools update daily to ensure that clients are always looking at the most up-to-date information.
Parkstone Wealth Management, LLC Investing Strategy
Parkstone Wealth Management creates client portfolios that are tailored to the specific goals and circumstances of each individual client. However, regardless of the client, the firm focuses on asset allocation and on diversification across multiple asset classes. Parkstone Wealth Management bases its investment philosophy on the idea that a diversified portfolio will help reduce risk.
The three major asset classes used in portfolios are stocks, bonds and cash equivalents. Parkstone Wealth Management does not advocate attempting to time the market because it believes that the markets are too difficult to predict.