Finding a Top Financial Advisor Firm in Covington, Louisiana
Financial advisors can help with a multitude of financial topics, including retirement planning, tax planning and investing. To help you find a financial advisor in Covington, Louisiana, SmartAsset created this list of the top firms in the city. Look through the details of each firm, including their account minimums, investment strategies and more, to figure out which option is best for you. You can also use SmartAsset's free advisor matching tool to get connected directly with advisors who serve your area.
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|Rank||Financial Advisor||Assets Managed||Minimum Assets||Financial Services||More Information|
|1||Paradiem, LLC Find an Advisor||$429,770,519||No set account minimum|| || |
Minimum AssetsNo set account minimum
|2||Asset Planning Services, Inc. Find an Advisor||$313,596,495||No set account minimum|| || |
Minimum AssetsNo set account minimum
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What We Use in Our Methodology
To find the top financial advisors in Covington, we first identified all firms registered with the SEC in the city. Next, we filtered out firms that don't offer financial planning services, those that don't serve primarily individual clients and those that have disclosures on their record. The qualifying firms were then ranked according to the following criteria:
- AUMFirms with more total assets under management are ranked higher.
- Individual Client CountFirms who serve more individual clients (as opposed to institutional clients) are ranked higher.
- Clients Per AdvisorFirms with a lower ratio of clients per financial advisor are ranked higher.
- Age of FirmFirms that have been in business longer are ranked higher.
All information is accurate as of the writing of this article. This list may include firms that have a business relationship with SmartAsset, in which SmartAsset is compensated for lead referrals. Such relationships have no impact on our rankings, and firms are included and ranked based strictly on the above criteria.
Paradiem is a fee-based firm that serves both non-high-net-worth and high-net-worth individuals, as well as pooled investment vehicles, retirement plans and charitable organizations.
To be a client, the firm does not require a minimum account size. However, it does impose a minimum initial financial consulting fee of $3,000 and a minimum investment management fee of $4,000.
For those engaging in investment management services, Paradiem also charges a fee based on a percentage of assets under management. This fee can range from 1.25% for the first $500,000 to 0.30% for amounts over $30 million.
The firm may also charge a $500 hourly fee for financial planning and consulting services.
The firm was established as a registered investment advisor in 2011 and is a wholly-owned subsidiary of Paradeim Holding Company.
As a fee-based firm, financial professionals at Paradiem may earn commissions from insurance product sales which could pose a conflict of interest. Nevertheless, all financial professionals working with the firm must adhere to its fiduciary duty which puts client interests first.
The firm uses a fundamental analysis method that is based on economic and business indicators to develop investment strategies for clients.
As with other advisors, Paradiem’s financial strategies are developed for the specific goals and needs of the client, and it will combine both long-term and short-term purchases.
Asset Planning Services, Inc.
Asset Planning Services works with mostly individuals, both with and without high net worths. The firm also maintains advisory relationships with pension and profit-sharing plans and businesses.
There is no minimum balance requirement needed to open an account here.
As a fee-only firm, Asset Planning Services earns all of its compensation through advisory fees paid directly by clients. Its advisors do not earn commissions for selling or recommending third-party products and services.
Asset Planning Services Background
Asset Planning Services has been in business since 1979. The firm provides clients with investment supervisory services, along with various financial planning offerings. More specifically, the firm specializes in estate planning and general financial planning, while also offering comprehensive investment management. The firm's financial planning services center around estate planning, but they may also involve advice on topics like preparation of tax returns, retirement planning and business planning.
Claude P. Duet Jr. is the firm's sole owner. Duet, has worked at Asset Planning Services for nearly his whole career and boasts more than 40 years of investment management experience.
Asset Planning Services Investment Strategy
When beginning an advisory relationship with an investment management client, Asset Planning Services tries to learn as much as it can about the client's full financial picture. The firm and its advisors conduct meetings with clients to determine their investor profile. This includes digging into various factors like risk tolerance and time horizon, as well as liquidity needs, investment history, and any restrictions the client would like to place on how their assets are managed.
Advisors and clients then must agree on specific investment recommendations before the firm implements any strategies. Advisors use a range of investments, including but not limited to equities, warrants, certificates of deposit (CDs), municipal securities, annuities, exchange-traded funds (ETFs) and mutual funds.