Finding a Top Financial Advisor in Austin, Texas
Finding the best financial advisor in Austin means choosing between thousands of options. Whether you're looking for help with retirement, wealth management, tax planning or a combination of services, you'll find a variety of firms that offer both the skills and insight you need right in Texas' capital. We narrowed down your choices to the top 10 financial advisors in Austin to help you with your decision.
|Rank||Financial Advisor||Assets Managed||Minimum Assets||Financial Services||More Information|
|1||TCG Advisors, LP Find an Advisor||$3,602,908,167||No set account minimum|| || |
Minimum AssetsNo set account minimum
|2||Oxbow Advisors, LLC Find an Advisor||$1,614,640,709||No set account minimum|| || |
Minimum AssetsNo set account minimum
|3||Legacy One Financial Advisors, LLC Find an Advisor||$1,330,780,004||No set account minimum|| || |
Minimum AssetsNo set account minimum
|4||Venturi Wealth Management, LLC Find an Advisor||$1,305,010,000||$2,500,000|| || |
|5||Durbin Bennett Private Wealth Management, LLC Find an Advisor||$1,210,137,098||$1,000,000|| || |
|6||Austin Asset Find an Advisor||$1,039,704,269||$1,000,000|| || |
|7||Century Management Financial Advisors Find an Advisor||$855,637,628||Varies based on account type|| || |
Minimum AssetsVaries based on account type
|8||Richard P. Slaughter Associates, Inc. Find an Advisor||$757,652,703||$500,000|| || |
|9||Waterloo Capital Management Find an Advisor||$729,450,000||$1,000,000|| || |
|10||FMP Wealth Advisers Find an Advisor||$607,581,000||Varies based on account type|| || |
Minimum AssetsVaries based on account type
How We Found the Top Financial Advisors in Austin, Texas
To determine the top financial advisors in Austin, we considered a number of factors in our analysis. We gathered all U.S. Securities and Exchange Commission (SEC)-registered firms, as these firms are required to act in their clients' best interest. We eliminated any with disciplinary or regulatory problems. This kept our list focused on only the advisors with clean records.
Then, we excluded any firm that lacked financial planners. We also cut any firm that doesn’t manage individual or high-net-worth individual accounts. For the final ranking, we sorted the remaining firms by assets under management. All information is accurate as of the writing of this article.
TCG Advisors, LP
TCG Advisors, LP is the next firm on our list. The firm's staff includes several certified financial planners (CFPs), certified public accountants (CPA), accredited investment fiduciarys (AIF) and chartered financial analysts (CFA).
There are two separate account minimums at TCG Advisors. If you subscribe to its standard managed account program, you'll need to invest at least $100,000. However, if you use the signature models program, just a $50,000 is required. More than 80% of TCG's client base is individuals.
This is a fee-only firm, meaning all of its income comes from client fees.
TCG Advisors, LP Background
TCG Advisors is a privately-held partnership that's owned by holding company TCG Group Holdings, LLP and investment advisor Total Compensation Group Investment Advisory Services Management, LLC. The firm was opened in 2001 by CEO John Pesce and chairman Mike Cochran. To be clear, Pesce is TCG's principal owner, as he personally owns TCG Group Holdings.
The main advisory offering at TCG Advisors is investment portfolio management, but it provides this service in a few variations. In fact, you can choose from multiple portfolio models, management programs and robo-advisor services through Charles Schwab Intelligent Portfolios. Should you want it, TCG can offer some financial planning services.
TCG Advisors, LP Investing Strategy
Because TCG Advisors' portfolio management services are model-centric, much of its investment philosophy revolves around how it builds and maintains those strategies. Portfolio model reviews occur on a quarterly basis at TCG in the name of maximizing returns while mitigating volatility. If the firm sees an allocation shift of more than 5% within any one model, its advisors will rebalance it to the originally intended percentages.
Oxbow Advisors, LLC
Oxbow Advisors, LLC's individual client base is made up of less than one-quarter high-net-worth individuals, which is somewhat surprising given the firm’s massive size. Equally as surprising is the fact that its relatively small team of advisors. This team consists of chartered financial analysts (CFAs), chartered investment counselors (CICs) and certified financial planners (CFPs).
Although the majority of Oxbow’s clientele consists of individuals and families, it also serves retirement plans, estates, trusts, employee benefit plans, private foundations and charitable organizations. It does not publicly specify an account minimum. Instead, any minimums or maximums will be displayed in your written client agreement.
This firm is fee-based, meaning that it gets its compensation from places other than its clients. In Oxbow’s case, some of its employees make commissions on insurance or broker-dealer sales. While this represents a potential conflict of interest, the firm is a fiduciary and legally must act in clients' best interests.
Oxbow Advisors, LLC Background
Managing partner James Theodore "Ted" Oakley founded Oxbow Advisors, LLC in 2007. Oakley is the principal owner of Oxbow, and has been employed in the financial services industry for over three decades.
Oxbow splits its client services into two main categories: base capital management and investment capital management. In layman’s terms, this is essentially a division of your money between what you need to hold onto in order to maintain your lifestyle and what you can afford to gamble a bit on investing. The firm also has more goal-centric services, such as retirement planning and education planning.
Oxbow Advisors, LLC Investing Strategy
The combination of a short- and long-term approach is at the heart of what Oxbow Advisors, LLC aims to do with the funds of all of its clients. It does this in a somewhat non-traditional way though, employing a strategy of stock-picking, which is essentially looking to find the undervalued areas of the market that hold some prospect of growth, significant or otherwise.
The firm accomplishes this through a series of steps, starting with meticulous research by its investment professionals. Next, the firm’s analysts will compare what it finds to market trends to see which stocks have the potential to be more valuable than where they currently stand. Because of this approach, you may find the investments that make up your portfolio shift on a regular basis.
Legacy One Financial Advisors, LLC
As a fee-based firm, some of Legacy One Financial Advisors' employees have the opportunity to earn commissions from the sale of insurance products. Legacy One does abide by fiduciary duty, though, legally binding it to act in your best interest no matter what.
There is no specified account minimum at Legacy One. This has possibly been the catalyst for non-high-net-worth individuals occupying the largest section of its client base. Legacy One also works with high-net-worth individuals, trusts, businesses, charitable foundations, retirement plans and family offices.
The firm boasts several certified financial planners (CFPs), certified public accountants (CPAs), one chartered life underwriter (CLU) and chartered financial consultants (ChFC).
Legacy One Financial Advisors, LLC Background
Managing partners Kevin Lange and Bert Foster co-founded Legacy One Financial Advisors in 2017. Today, the firm is ultimately under the principal ownership of AustinFP, Inc., which is owned by Lange. The duo has, on average, spent about 20 years in finance.
The overarching category of wealth management at Legacy One affords clients the chance to access a multitude of services. Clients can take advantage of retirement planning, estate planning, investment planning, risk management, insurance planning and cash flow planning and more.
Legacy One Financial Advisors, LLC Investing Strategy
A long-term investment ideology is at the core of the advisory services of Legacy One. This, of course, can be shifted to fit the personal risk tolerance, time horizon and other needs of clients, but not too far. In support of this style, the firm states that it tends to invest client assets in mutual funds and exchange-traded funds (ETFs) with individual equities, options and alternative investments sprinkled in.
Mutual funds and ETFs are favorites of Legacy One because of their inherent diversification. This allows the firm to ensure that your money is spread across a certain market without needing to spend much time or money on research.
Venturi Wealth Management, LLC
You’ll need a minimum of $1 million in investable assets to start a relationship with Venturi Wealth Management, LLC, one of the newer companies on our list. The majority of the firm's clients are high-net-worth individuals. Unlike fee-only companies such as Durbin Bennett, Venturi Management is a fee-based company. This means that while Venturi is a fiduciary and obligated to work in the best interest of their clients, they may receive commissions for certain insurance product sales.
Venturi Wealth Management, LLC Background
Russell Norwood and George Clark, two advisors with a combined 41 years at Merrill Lynch, founded Venturi Wealth Management in 2015. The firm employs several financially certified individuals, including certified financial planners (CFP), chartered financial analysts (CFA) and certified investment management analysts (CIMA).
Working With Venturi Wealth Management, LLC
With its goal to “deliver unbiased, objective advice you can trust,” Venturi Wealth Management offers a variety of services. You’ll have the option to choose from discretionary investment advisement, integrated financial planning, legacy and estate planning, business advisory services and more.
The Venturi team is on the small side compared to the rest of the firms on the list, with only nine advisors on staff. However, the majority of the firm’s clients are high-net-worth individuals, which the SEC defines as investors who have at least $1.5 million in investable assets.
Durbin Bennett Private Wealth Management, LLC
Fourth on our top Austin advisors list is Durbin Bennett Private Wealth Management. You’ll need at least $1 million for Durbin Bennett to consider you as a client.
Durbin Bennett Private Wealth Management, LLC History
This company is local to residents of Austin and San Marcos. It was founded by Richard Bennett and Brent Durbin in 1987.
Durbin Bennett Private Wealth Management, LLC Investing Philosophy
If you enjoy a healthy amount of market skepticism, you’ll likely agree with Durbin Bennett’s belief that markets can be irrational or inefficient. This belief informs the company’s portfolio strategy which is based on a passive core and more active satellite components.
You’ll decide your ratio of passive-to-active investments when you speak to your advisor to discuss financial goals and planning.
Rebalancing is another Durbin Bennett portfolio tenet. Portfolios are rebalanced as needed by adhering to predetermined tolerance ranges for various asset classes.
The last core tenet is net returns over gross returns. This means your advisor will construct your portfolio with tax impacts in mind. They will capture losses when possible, as well as long-term gains over short-term ones.
Available services for clients include strategic wealth planning and investment management, asset and risk management, generational wealth transfer, retirement planning and family office coordination. For broker-dealer services, Durbin Bennett recommends you use Schwab Advisor Services or Fidelity Investments.
Austin Asset is one of a few advisors in Austin to provide fee-only financial services. This means the company makes money solely from fees, rather than commissions via the sale of products. You will need at least $1 million to become a client of this financial advisor.
Austin Asset Background
Austin Asset’s philosophy is that wealth planning is a journey, not a one-time exercise. The company started conducting business in 1986. Austin Asset claims to be one of the first to provide fee-only financial services. The boutique management company states that the people there believe in a holistic process. This means lots of information up front, to better serve you and eliminate confusion from the start.
Becoming an Austin Asset Client
You’ll be served by a team-based service model during the wealth-planning process. This means you get subject matter experts for your particular needs. The company has certified financial planners (CFP) and certified public accountants (CPA) on staff.
In the first six months of working with Austin Asset for wealth planning, you’ll meet with representatives about three to six times. The goal of this is to establish financial objectives, review financial documents and discuss any anticipated changes that may affect your financial plan.
According to the company’s website, this can include analyzing investment statements, tax returns, sources of income and expenses, insurance policies, legal and business documents and employee benefits, if applicable. Austin Asset operates on an unlimited access retainer, which means you can reach out to a team member at any time, without additional fees.
Austin Asset Features
Tech lovers will likely enjoy Austin Asset’s unique proprietary tools. The Building Organized Wealth (BOW©) Model aligns your goals with your actual financial situation, while the Actual Rate of Return on Wealth (ARROW©) tracks your portfolio’s performance against a year’s goal, according to the company’s website. These tools help model different savings and income scenarios as well as portfolio performance.
You’ll have access to the company’s online performance reporting tool which will allow you to view your portfolio reports, as well as share sensitive documents with your manager.
Austin Asset Wealth Management
For wealth management, you’ll work with a dedicated wealth manager who will implement and maintain your portfolio. The company strives for the least amount of risk necessary to drive success for your wealth-planning goals, according to the firm’s brochure.
Wealth management clients can generally receive advice on securities such as:
- Exchange-listed securities
- Mutual fund shares
- U.S. governmental securities
- Certificates of deposit
- Variable life insurance
- Variable annuities
You’ll meet with your manager at least once a year to review your portfolio. This company is aimed toward the wealthy and consists of a majority of high-net-worth individual accounts.
If you meet Austin Asset’s $1 million threshold to open an account, you’ll be happy to know that the team uses complete discretion in sensitive financial information. Company materials state that trust is the most important factor between advisor and client. Austin Asset maintains awareness that many clients value anonymity.
Century Management Financial Advisors
Century Management Financial Advisors is great for Austinites who believe that steady, value investing is the proper way to grow your money. Century Management provides a wide array of management styles that suit different individuals, allowing for a wide range of customers to use its service.
Century Management states that they invest based on the intrinsic value of a company and strive to buy undervalued equities to ensure a higher reward-to-risk ratio. It also embraces volatility because of inefficiencies that present themselves in the market during those times. Lastly, Century Management says they focus on finding bargain or wholesale prices and playing the long game with your assets.
Century Management Financial Advisors Investing Philosophy
Century Management is one of the oldest firms on our list. Arnold Van Den Berg founded the company in 1974 and still serves as CEO, co-chief investment officer and chairman.
Clients who are firm believers of value investing will likely appreciate Century Management’s multi-faceted philosophy:
- Use a business approach
- Use a margin of safety
- Embrace volatility
- Focus on price
- Put time on your side
Management Style Options at Century Management Financial Advisors
The firm provides three methods. The first is mutual funds, exchange-traded funds (ETFs) and closed-end funds. The second is individual stocks and bonds.
The last management style is any variation on any strategy, and is captured under method three, “any type of investment.” It is only offered upon request.
You'll need at least $5 million to invest on a performance-based fee schedule. While there aren't many specific minimums, the firm does charge a $2,500 minimum annual fee.
Extras Offered by Century Management Financial Advisors
The second place firm in Austin also publishes a monthly blog covering latest industry trends. If you would like more general information about finance, Century Management provides resources to help you understand the market, in addition to what’s happening at the moment.
CM Advisors Family of Funds
Century Management has its own mutual funds, known as CM Advisors Family of Funds. In addition to other mutual funds, if you are a client here, you can pick the company’s products but you don’t have to do so. The company acknowledges that advisors may recommend the company’s own products but the client isn’t under an obligation to invest in those programs. Century Management doesn’t receive commissions, trading fees or any custodian-generated fees, according to the SEC-filed Form ADV.
All information is accurate as of the writing of this article.
Richard P. Slaughter Associates, Inc.
Newly wealthy and searching for an Austin financial advisor? Richard P. Slaughter Associates, Inc. has years of experience working with those who are new to the responsibilities that comes with wealth. You’ll need at least $500,000 to become a client. Along with the suddenly wealthy, Richard P. Slaughter Associates focuses on business owners and business professionals.
Richard P. Slaughter Associates, Inc. Background
Richard P. Slaughter Associates was founded in 1991 by the firm’s namesake as a fee-based advisor company. Customer service is one of the company’s hallmarks. For six years in a row, the company earned five stars for its customer service from Texas Monthly.
Becoming a Richard P. Slaughter Client
You’ll find wealth management solutions, financial planning and asset management at Slaughter Associates. Those who like structure will appreciate the company’s four-part wealth management process.
Step one is the “discovery” phase, during which you’ll discuss immediate financial requirements as well as long-term goals. The next step is financial planning, during which you’ll explore different financial scenarios with varying retirement dates, lifestyle needs, cash flow, budgets and more.
After your financial strategy is in place, the third step is asset management. This is when your assets are selected and allocated and then monitored. The final part is ongoing support. You’ll have service support from your fiduciary advisor team which includes information and education on market trends as advice for other financial matters.
Richard P. Slaughter and Sudden Wealth Clients
When you receive a large sum of money, whether through an inheritance or from a sale of a business, you’ll want a company with experience to usher you into the next chapter of your financial life. Slaughter Associates provides detailed tax consulting, personal and family budgeting, estate planning and wealth transfer along with wealth-management consulting.
Richard P. Slaughter and Business Professionals
If you’re looking for detailed investment planning as an executive, Slaughter Associates provides a number of targeted services. These include management of stock grants and deferred compensation, diversification, retirement strategies, company retirement plans, proactive tax planning and estate planning.
Richard P. Slaughter Resources
You can get started with your financial knowledge by reading Slaughter Associate’s bi-monthly publication that features Worth magazine articles. The company maintains expert articles as well, though these are published more sporadically. However, you’ll find economic analysis and market commentary once a month, which is one of the most robust publishing schedules we’ve come across during our research into the top Austin financial advisors.
Waterloo Capital Management
The tenth and final firm on our list of the top financial advisory firms in Austin, Texas is Waterloo Capital Management. This firm works with non-high-net-worth individuals, high-net-worth individuals, pensions, profit sharing plans, charities and other businesses. The majority of the firm's clients are individuals. It provides these clients with both financial plannign and investment management services and carries a minimum account size requirement of $1 million.
Waterloo is a fee-based firm. Since it receives third-party commissions from the sale of financial products, the firm is subject to a potential conflict of interest. However, this conflict is mitigated by the fact that the firm is fiduciary and is bound to act in the best interests of clients at all times.
Waterloo Capital Management Background
Waterloo Capital Management has been in buiness since 2012, when CEO and owner John Chatmus acquired Virtus Private Wealth and rebranded it under this firm's current name, Waterloo. Part of Waterloo's business goes by the name of AMG Wealth Advisors. While Waterloo employs several advisors, only one, chief investment officer Bennet Woodward, has a financial certification. He is a chartered financial analyst (CFA).
Waterloo provides investment management as well as financial plannning rolled in with investment management services. The firm also provides a wrap-fee program and manages the vast majority of its assets on a discretionary basis.
Waterloo Capital Management
The centerpiece of Waterloo Capital Management's investment strategy is that they tailor their strategies to fit the needs of each individual client. In order to create a proper intital asset allocation strategy, advisors take note of each client's tolerance for risk, time horzion, investment history, desired investment strategy and any other important information.
Portfolios may consist of a wide variety of investments, including equities, fixed income securities, mutual funds and alternative investments. The firm may also utilize third party money managers. The firm relies heavily on fundamental analysis.
FMP Wealth Advisers
FMP Wealth Advisers is the final firm on our list. The firm employs several certified financial planners (CFPs), chartered retirement planning counselors (CRPCs) and chartered financial analysts (CFA).
More than 90% of the clients at this fee-only firm are individuals, and around one-third of those have a high net worth. Retirement plans, estates, trusts, businesses, charitable organizations and investment companies make up the rest of its typical clientele.
Aside from its home office in Austin, FMP has an additional location in Lake Charles, Louisiana.
FMP Wealth Advisers Background
FMP Wealth Advisers is a largely employee-owned firm, as five of the firm's top employees are principal owners. This list includes Milton Hixson (founder and president), John Hixson (senior advisor), Kevin Hixson (director of client service team), Les Hixson (director of investments and research) and Adam Todd (senior advisor). None of these individuals own more than 50% of the company's shares. FMP opened its doors in 1987.
The nucleus of FMP's services are personalized financial planning, wealth management and investment management.
FMP Wealth Advisers Investment Decisions
Like many of its contemporaries, FMP Wealth Advisers has a series of investment types that it usually sticks to: mutual funds and ETFs. The firm explicitly states in its Form ADV that this is due to the fact that these securities are both managed by professionals and inherently diversified. These benefits, coupled with the investment experience of the firm's own advisors, leaves FMP feeling as though its client portfolios are adequately built.
Although long-term financial success is the goal of FMP, it will help clients meet their short-term needs if applicable. This could be satisfying an emergency fund or helping to pay for insurance costs.