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Barber Financial Group Review

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Barber Financial Group

Barber Financial Group is a Lenexa, Kansas-based financial advisor firm that has around $1.1 billion in client assets under management (AUM). The firm’s client base is comprised almost entirely of individuals, but it also works with some retirement plans. The firm specializes in investment management and financial planning services.

This is a fee-based firm, meaning some of its advisors can earn income from sources other than the advisory fees that clients pay. In the case of Barber Financial, these advisors can earn insurance sales commissions, which may incentivize them to recommend such products. This differentiates it from a fee-only firm, which is compensated exclusively by client-paid fees.

Barber Financial Group Background

Barber Financial Group was founded in 1998, though it has only been a registered investment advisor (RIA) since 2010. CEO F. Dean Barber founded the firm, and he is still its principal owner to this day. Barber has over 30 years of experience in the financial services industry.

This firm has a staff of 16 financial advisors, and this group has plenty of professional certifications among them. Six advisors are certified financial planners (CFPs), 11 are accredited investment fiduciaries (AIFs), one is a chartered retirement planning counselor (CRPC), one is a chartered life underwriter (CLU) and three are certified public accountants (CPAs).

Barber Financial Group Client Types and Minimum Account Sizes

Barber Financial Group works with more than 2,000 clients. The vast majority of these clients are individuals who don't have a high net worth. The firm also works with some high-net-worth individuals and retirement plans.

Barber requires new clients to have at least $500,000 in investable assets. However, it may decide to waive or lower this minimum under certain circumstances.

Services Offered by Barber Financial Group

Barber Financial Group's main offering is what it calls the Guided Retirement System™ (GRS). This service is a combination of the firm's investment management and financial planning services; the latter includes tax planning, estate planning, insurance analysis and annuity analysis. If the client wishes, the firm can also provide either stand-alone investment management or stand-alone financial planning.

Barber Financial Group Investment Philosophy

The investment ideology at Barber Financial Group generally centers around long-term investing. However, advisors may recommend short-term strategies if a client requests it or if the advisor determines such a strategy to be the most appropriate for the client's situation.

Barber Financial Group will meet with each client at the start of every advisory relationship to establish their ultimate investment goals, tolerance for risk, cash flow needs and more. Once these factors have been clearly established, the firm's advisors will then create an asset allocation that best aligns with the client's needs.

The firm may also rely on model asset allocation programs that are researched and provided by a third-party firm.

Fees Under Barber Financial Group

Barber Financial Group typically charges its clients a percentage-based fee for its investment management services. The exact fee percentage you'll pay generally adheres to the following schedule:

Barber Financial Group Investment Management Fee Schedule
Assets Under Management Guided Retirement System (GRS) Stand-Alone Investment Management
Up to $499,999 Negotiable 1.50%
$500,000 - $749,999 1.60% 1.35%
$750,000 - $999,999 1.50% 1.25%
$1,000,000 - $1,999,999 1.25% 1.00%
$2,000,000 - $2,999,999 1.15% 0.90%
$3,000,000 - $3,999,999 1.05% 0.80%
$4,000,000 - $4,999,999 0.95% 0.70%
$5,000,000 - $9,999,999 0.85% 0.60%
$10,000,000 and above 0.75% 0.50%

Clients who engage the firm for stand-alone financial planning services will typically pay a flat fee between $500 and $5,000. If the client receives tax planning and estate planning services as part of this plan, they can expect to pay a fee toward the higher end of this range.

What to Watch Out For

Barber Financial Group is a fee-based firm, as certain advisors may earn commissions from selling insurance products. While this creates the potential for a conflict of interest, the firm and its advisors are still bound by fiduciary duty to act in their clients’ best interests at all times.

Disclosures

Barber Financial Group has two disclosures listed on its Form ADV. In 1999, an affiliate of the firm was found by the State of Michigan to have sold unregistered, non-exempt securities and omitted material facts. Additionally, the Kansas Board of Insurance took action against the firm in 2011 for failing to report FINRA actions subsequent to its application for an insurance license.

Opening an Account With Barber Financial Group

There are a few different ways you can get in touch with Barber Financial Group. You can call the firm at (913) 393-1000, or you can visit the firm’s website and fill out its contact form with your name, email address and a description of the services you're looking for.

Barber's Lenexa, KS office is located on 95th street, just west of Pflumm Rd. 

Investing Tips

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How Many Years $1 Million Lasts in Retirement

SmartAsset's interactive map highlights places where $1 million will last the longest in retirement. Zoom between states and the national map to see the top spots in each region. Also, scroll over any city to learn about the cost of living in retirement for that location.

Least
Most
Rank City Housing Expenses Food Expenses Healthcare Expenses Utilities Expenses Transportation Expenses

Methodology To determine how long a $1 million nest egg would cover retirement costs in cities across America, we analyzed data on average expenditures for seniors, cost of living and investment returns.

First, we looked at data from the Bureau of Labor Statistics (BLS) on the average annual expenditures of seniors. We then applied cost of living data from the Council for Community and Economic Research to adjust those national average spending levels based on the costs of each expense category (housing, food, healthcare, utilities, transportation and other) in each city. Using this data, SmartAsset calculated the average cost of living for retirees in the largest U.S. cities.

We assumed the $1 million would grow at a real return (interest minus inflation) of 2%. This reflects the typical return on a conservative investment portfolio. Then, we divided $1 million by the sum of each of those annual numbers to determine how long $1 million would cover retirement expenses in each of the cities in our study. Cities where $1 million lasted the longest ranked the highest in the study.

Sources: Bureau of Labor Statistics (BLS), Council for Community and Economic Research