Bridgeworth Wealth Management
From 2017 to 2020, Bridgeworth was named as one of the Financial Times' "Top 300 Registered Investment Advisers." With headquarters in Birmingham, Alabama, the firm, which also goes by Bridgeworth Wealth Management and Bridgeworth Financial, is on SmartAsset's lists of the top financial advisors in Birmingham and the top financial advisors in Alabama.
The team of advisors here manages billions in client assets. They primarily work with individuals, particularly retirees, physicians, executives, attorneys, entrepreneurs and women. The fee-based firm offers a wide range of financial planning, investment management and generational wealth transfer planning services. Bridgeworth also has a second office in Huntsville, Alabama.
Bridgeworth Background
Bridgeworth was founded in 2012 by six certified financial planners (CFPs) who had worked together since 1988. As you might guess, financial planning is a key component of the firm's services. Today, three of those founders remain at the firm: Wayne Harris, Henry Ware and CEO DeLynn Zell. They, along with seven other employees, own the firm.
All advisors here are CFPs. Some are also certified public accountants (CPAs), chartered financial consultants (ChFCs), chartered retirement planning counselors (CRPCs), chartered financial analysts (CFAs) and more.
Bridgeworth Client Types and Minimum Account Sizes
Bridgeworth works with a variety of client types, though the majority are individuals with and without a high net worth. The firm also maintains relationships with trusts, estates, retirement plans, charities and businesses.
The minimum account size needed to open an account at Bridgeworth varies based on the type of account you're looking to open. Investment management services require $500,000 in investable assets. Financial planning services do not have a minimum investment, though there is a $5,000 minimum fee. It also offers a number of third-party robo-advisor programs that have varying minimums based on the services you need. All minimums are subject to negotiation and may be waived.
Services Offered by Bridgeworth
Bridgeworth provides financial planning, investment management and consulting services. Investment management is generally offered on a stand-alone basis, with various personalization steps along the way.
Financial planning services are also available. These include retirement planning, education cost planning, personal tax planning, debt analysis, estate planning, charitable gift planning, investment planning and more.
The firm also offers consulting services for retirement plans and their respective plan participants.
Bridgeworth Investment Philosophy
Advisors at Bridgeworth are well-versed in the world of wealth planning and are prepared to help clients address their financial situations, in addition to more traditional investment needs. Each client relationship begins with the advisor gathering extensive information about the client's time horizon, risk tolerance, liquidity needs, investment history and other important factors. Based on these elements, an investment plan will be built for you. Once a suitable investment plan is determined, it will be implemented and regularly monitored to ensure effectiveness and proper balancing.
Bridgeworth's investment strategy ultimately aims to create an equilibrium between risk tolerance and returns on investment. The firm's advisors use a mix of quantitative and fundamental analysis to effectively evaluate investments for clients' portfolios. Advisors look to use a time horizon strategy that fits the needs of each client, so no particular period of time is ever singled out. Typical investments include mutual funds, equities, bonds, money market funds, certificates of deposit, high-grade commercial paper and government-backed debt instruments.
Fees Under Bridgeworth
The fees for financial services at Bridgeworth vary depending on the type of services. Hourly fees for financial planning range between $175 and $400, while flat fees generally range from $5,000 to $20,000. Each of these rate ranges can be changed at the firm's discretion. Fees are typically charged on a quarterly basis.
Investment management fees are charged according to the following schedule:
| Comprehensive Portfolio Management Fee Schedule | |
| AUM | Annual Fee |
| Up to $500,000 | Up to 1.35% |
| $500,001 - $1,000,000 | Up to 1.20% |
| $1,000,001 - $2,000,000 | Up to 1.15% |
| $2,000,001 - $3,000,000 | Up to 0.96% |
| $3,000,001 - $5,000,000 | Up to 0.88% |
| $5,000,001 - $10,000,000 | Up to 0.74% |
| $10,000,001 - $20,000,000 | Up to 0.54% |
| Over $20,000,000 | Negotiable |
Here's a breakdown of what you can expect to pay for comprehensive portfolio management services at Bridgeworth:
| *Estimated investment management fees do not include brokerage, custodial, third-party manager or other fees, which can vary in amount. | |
| Estimated Portfolio Management Fees at Bridgeworth* | |
| Your Assets | Bridgeworth Annual Fee Amount |
| $500K | $6,750 |
| $1MM | $12,000 |
| $5MM | $44,000 |
| $10MM | $74,000 |
Bridgeworth's Access Program comes with a fixed fee that can vary from $1,500 to $4,500. The firm also uses proprietary fee schedules for its third-party investment and robo-advisor programs.
Retirement plan and pension consulting hourly fees range between $150 and $250. On the other hand, flat fees range from $750 to $10,000.
What to Watch Out For
Bridgeworth has no disclosures of legal or disciplinary action in its most recent Form ADV.
One thing to note: Some Bridgeworth advisors may be brokers or insurance agents who collect transaction-based fees. This creates the potential for a conflict of interest. That said, the firm is still bound by its fiduciary duty to act in clients' best interests.
Opening an Account With Bridgeworth
To open an account with Bridgeworth, you can submit your email or phone number on the website. Alternatively, you can call the Birmingham office's number at (205) 208-8700, or the Huntsville office's number at (256) 970-6888.
All information is accurate as of the writing of this article.
Tips for Financial Planning
- It's been said that a goal without a plan is a dream. A financial advisor can help you plot and take the steps you need to reach your financial goals. Finding a financial advisor doesn’t have to be hard. SmartAsset’s free tool matches you with up to three vetted financial advisors who serve your area, and you can have a free introductory call with your advisor matches to decide which one you feel is right for you. If you’re ready to find an advisor who can help you achieve your financial goals, get started now.
- Wondering what kinds of returns you can expect from investing? SmartAsset’s investment calculator is a good place to start.
