Finding a Top Financial Advisor in Dallas, Texas
Selecting the right financial advisor in Dallas, Texas, means combing through many advisory firms with impressive credentials. After dozens of hours of research, SmartAsset has narrowed down the list to help you find the Dallas firm that best meets your needs, whether that's getting ready for retirement or getting investment advice. We've determined exactly what sets these standout firms apart from the thousands of options out there and from one another in the chart and reviews below.
|Rank||Financial Advisor||Assets Managed||Minimum Assets||Financial Services||More Information|
|1||RGT Wealth Advisors Find an Advisor||$4,026,863,498|| |
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|2||Southern Wealth Management LLP Find an Advisor||$2,241,951,074|| |
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|3||True North Advisors, LLC Find an Advisor||$1,132,420,300|| |
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|4||Lee Financial Company Find an Advisor||$1,015,003,200|| |
The firm will continue to work with clients until the asset size decreases to $50,000
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The firm will continue to work with clients until the asset size decreases to $50,000
|5||Quest Capital Management, Inc. Find an Advisor||$925,549,800|| |
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|6||Beaird Harris Wealth Management, Inc. Find an Advisor||$923,549,800|| |
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|7||HFS Wealth Management Find an Advisor||$881,269,500|| |
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|8||360 Wealth Management, LLC Find an Advisor||$730,006,400|| |
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|9||Beacon Financial Group Find an Advisor||$692,391,000|| |
No set minimum
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No set minimum
|10||McGowan Group Asset Management Inc. Find an Advisor||$607,610,900|| |
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How We Found the Top Financial Advisors in Dallas
To determine the top 10 financial advisor firms in Dallas, SmartAsset first compiled all U.S. Securities and Exchange Commission (SEC)-registered firms located in the city, as these firms all have a fiduciary duty. From that list, we removed any firms with disciplinary or regulatory problems. We also eliminated firms that don’t have financial planners or that don’t manage individual or high-net-worth individual accounts. The remaining firms were sorted from highest assets under management to lowest.
RGT Wealth Advisors
RGT Wealth Advisors has the most assets under management and the highest account minimum of any financial advisor firm on this list. To become a client of RGT Wealth Advisors, you’ll need at least $3 million. Unsurprisingly, the firm’s clients are almost exclusively high-net-worth individuals.
In terms of expertise, RGT Wealth Advisors has more certified financial planners than any other firm in our top 10. In addition to that, the independent, fee-only firm has one certified private wealth advisor® (CPWA®), two chartered financial analysts (CFAs) and two certified divorce financial analysts™ (CDFAs).
It was recently recognized as one of the top 10 registered investment advisory firms in the country by Financial Planning magazine.
RGT Wealth Advisors Background and Services
RGT Wealth Advisors was founded in 1985 in response to clients’ demands for services beyond traditional tax accounting. It’s the second-oldest firm of the 10 Dallas firms ranked in this list.
It offers financial planning, portfolio management and wealth advisory services and places an emphasis on customizing its services to individual client needs. RGT Wealth Advisors advertises that the advisors there take a collaborative approach, working as a team to help clients. It recommends investments in no-load and low-load mutual funds, hedge funds and other private pooled investment vehicles.
Alongside its wealth advisory services to individuals and families, RGT Wealth Advisors also offers divorce consulting.
Southern Wealth Management LLP
Southern Wealth Management is a fee-based financial advisor firm that caters to the wealthy. It’s also one of two firms on this list (along with Beacon Financial Group) that’s an insurance broker / agent.
Southern Wealth Management was formed in 2005 with the purpose of advising wealthy individuals and families. The firm has a $1 million account minimum, which is significantly lower than RGT Wealth Advisors’ minimum requirement but still hefty.
Southern Wealth Management Background
Southern Wealth Management has been in the business of investment advisory and financial planning since 2005. The firm is a multi-family office operation that extends to Dallas, San Antonio and New Orleans.
Southern Wealth Management states that advisors combine resources and skills from across its offices to provide clients with more access to investments and services. The company offers a variety of services from financial planning, estate planning and investment consulting to tax planning and business valuation.
A Southern Wealth portfolio may be comprised of individual equities, bonds and/or no-load and load-waived mutual funds.
Southern Wealth Management Resources
Southern Wealth Management offers a decent array of resources, from its monthly newsletter to a compilation of tax tools. The firm’s monthly newsletter covers financial topics like wills and living trusts, the differences between health care accounts and the keys to disaster planning. It also offers updates on the latest financial, business and tax news every few days.
True North Advisors, LLC
Unlike the previous two firms, True North Advisors’ client base is not comprised of a majority of high-net-worth individuals. Instead, it’s divided between individuals and high-net-worth individuals. That being said, for True North Advisors to take you on as a client, you’ll need a minimum of $1 million in investable assets.
True North Advisors is a fee-based firm. It has three certified financial planners (CFPs), which is on the lower side compared to many of the other firms on this list.
True North Advisors has been rated among the top independent wealth firms by authorities like Investment Advisors, Investment News and Barron’s.
True North Advisors’ Approach
True North Advisors, an employee-owned firm, was founded in 2005. The firm's founder and chief executive officer, Scott Wood, formed the firm on the belief that fee-based fee structures produce more impartial advice than commission-based fee structures. Its website claims that True North Advisors is one of the nation's first-fee-based firms.
The firm’s approach is team-based. Notably, employees at True North are personally invested in the same strategies that they recommend to clients.
True North gives prospective clients the chance to get a feel for the firm before making a commitment or paying any fees. The firm starts out with what it calls a “Three-Sixty Process,” which is essentially a four-meeting-long opportunity for the firm to better understand a client’s needs and goals before crafting a financial plan.
The firm’s portfolios tend to adhere to the philosophy of value investing. According to the company information, it considers niche opportunistic strategies within traditional and non-traditional asset classes.
True North Advisors’ Resources
True North Advisors has a blog, The Vista, that’s updated about once a week. Blog topics range from cryptocurrency to company announcements.
It also has a sleekly designed website that’s easy to navigate.
Lee Financial Company
Founded in 1975, Lee Financial Company holds the distinction of being the oldest financial advisor firm on this list. According to its website, it was also one of the first fee-only financial advisory firms.
Another distinction of the firm is that Lee Financial works with clients who have at least $50,000 in assets, a much lower threshold than many other firms on this list. The firm is experienced with advising physicians, entrepreneurs, executives and professionals, people affected by divorce, widows and widowers, retirees, families of wealth and individuals with new or sudden wealth.
Lee Financial’s Approach
Lee Financial was established because of founder Richie Lee’s dissatisfaction with commission-driven investment models. Today, Lee Financial says it’s still primarily focused on benefiting clients.
Lee Financial is guided by the “Whole Vision” approach, which was founded on the idea that “the whole is greater than the sum of its parts.” Its Whole Vision approach is comprised of four parts: human capital, financial capital, fulfillment capital and shared capital.
Lee Financial boasts a research team dedicated to analyzing investments. The team’s research extends to private debt, public debt, equity, real estate, real assets, private equity and absolute returns.
Lee Financial also offers access to alternative investments, including real estate, hedge-quality strategies, arbitrage, private equity and energy and natural resources.
Lee Financial Resources
Lee Financial has a blog that’s updated about once a month. It’s covered newsy topics, like the Equifax data breach, and broader informational pieces, with articles about tax benefits and home ownership and gift tax returns.
The firm’s website is also notably user-friendly. There’s a satisfying depth of information offered and it’s presented in a concise and readable format.
Quest Capital Management, Inc.
Quest Capital Management, Inc. offers notably low minimums and an impressive level of expertise, but it’s a fee-based firm that also collects third-party advisor / manager fees. The lowest minimum for one of the firm’s multiple investment advisory account options, the PASSPORT Account, is $25,000.
The firm boasts a noteworthy array of expertise. In addition to its seven certified financial planners (CFPs), Quest also has a certified private wealth advisor® (CPWA®) and a certified divorce financial analyst™ (CDFA) among other distinctions.
One of its advisors, Kalita Blessing, was named in 2017 to Barron's Top Women Financial Advisors, Financial Times’ 400 Top Financial Advisors and Forbes’ list of America’s Top Women Advisors.
Quest Capital Management, Inc Background
Quest Capital Management, Inc has been in existence since 2001. Quest claims to place an emphasis on planning ahead by crafting financial plans that will adjust to life’s stages. These are defined as follows: “accumulate,” which is when people work toward financial business and build wealth; “preserve,” which is when people seek to maintain financial independence and manage cash flow and “transfer,” which is when people begin to prepare for the next generation.
The firm’s strategy, appropriately named Plan for Life™, follows four steps: discover in-depth information about the client, assess his or her needs, implement a strategy and then continue to manage those needs and goals.
Quest Capital Management’s approach to investing is an adaptation of the method pioneered by Raymond James, a wealth advisory firm founded in 1962. Quest claims that by breaking down risk and return into “active” and “market” components it gives clients a clearer picture of a portfolio’s risk level and potential payoffs.
Quest Capital Management, Inc Resources
Quest Capital Management has an app, which sets it apart from some other firms on this list. If you’re a mobile-first kind of person, this will likely be a plus in your mind.
A page on Quest’s website compiles various financial resources, including the firm’s investment commentary and outlook and a rundown of the 10 questions to ask when choosing a financial planner. There are also portals to clients’ ePlan and Investor Access.
Another unique resource offered by Quest is educational seminars and workshops.
Beaird Harris Wealth Management, Inc.
If you’re looking for a fee-only firm with tax expertise, Beaird Harris Wealth Management is one to consider. You’ll need a minimum of $500,000 in investable assets for the Dallas firm to take you on as a client.
Beaird Harris started out as a CPA firm, and though it’s since branched out into wealth advising, it still specializes in tax services. The firm has 19 CPAs - by far the most of any advisory firm on this list.
For the past four years in a row, Beaird Harris has been recognized by Financial Times as one of the nation’s top Registered Investment Advisors (RIAs).
Beaird Harris Approach
Beaird Harris’ tax background can be a benefit when it comes to navigating tax rules and regulations and taking tax implications into account when creating a financial plan. Alongside creating a multi-year tax plan, the firm also does federal tax returns, state tax returns, gift tax returns, non-profit tax returns, sales tax returns and estate tax returns. Other tax-related services include IRS representation and the resolution of IRS notices.
The firm, established in 1996, offers advice on investments, including equity securities, corporate debt securities, commercial paper, certificates of deposit and municipal securities.
Beaird Harris Young Professionals Program
A distinction of Beaird Harris is the firm’s Young Professionals Program. The program was created to help young people with high incomes develop good financial habits from the outset.
HFS Wealth Management
HFS Wealth Management’s small team is full of experts. Of the eight members of the firm’s wealth management team, six bear the distinction of certified financial planner (CFP).
Clients must have a minimum of $500,000 in investable assets to work with this fee-only firm. HFS Wealth Management serves the same percentage range of individuals as it does high-net-worth individuals.
HFS Wealth Management Background
HFS Wealth Management is the wealth management division of Howard Financial Services, LTD. The other division, HFS Capital Partners, LLC is an independent asset management firm.
Established in 1994, HFS Wealth Management states in company material that the company emphasizes forming trusting partnerships with clients on not only a financial level but a personal level. The independent firm's team includes financial, investment, tax and estate planning professionals.
HFS Wealth Management’s portfolios may include investments in stocks, bonds, real estate (equity and debt), mutual funds, commodities, convertible bonds, master limited partnerships, international investments and private offerings.
HFS Wealth Management’s Resources and Extras
HFS Wealth Management has a few online tools that make it easier to keep tabs on your financial plan and investments. There’s HFS Wealth Management Board, which lets you manage your financial matters in one place. The HFS Investment Portal lets you monitor and manage your investments.
HFS also has custodian accounts with Charles Schwab, TD Ameritrade and Jefferson National, so HFS’ clients become clients of these institutions as well. You can log on to Custodian Account Access for additional services.
HFS also offers a monthly market update, a quarterly investor newsletter and financial education in the form of monthly updates on financial issues.
360 Wealth Management, LLC
360 Wealth Management, LLC, the newest firm on this list, prides itself on keeping its account minimums very low. The lowest for one of the firm’s account options is $15,000. 360 Wealth Management is an outlier in that it has a significantly higher percentage of individual account clients than of high-net-worth account clients.
360 Wealth Management nearly rivals RGT Wealth Advisors (ranked no. 1) on this list by having 19 certified financial planners (CFPs) on staff. It also has by far the most advisors with 62, in total.
Unlike most of the other firms on the list, 360 Wealth Management is a fee-based firm.
360 Wealth Management, LLC Background
Established in 2012, 360 Wealth Management’s name reflects its foundational goal: to offer wealth management that encompasses 360 degrees of a client’s life. The fee-based firm’s main principles are to take a measured approach to risk, maintain an awareness of expenses and taxes, assume proactive asset management and have transparent fee structure.
360 Wealth Management has a unique structure. LPL Financial, the country’s largest independent broker-deal, is a registered representative of the firm. 360 Wealth Management is a separate entity from LPL Financial.
360 Wealth Management Resources
360 Wealth Management has a blog where it posts its outlooks at the start of the year and mid-year. It also has a research blog that it updates on a nearly daily basis. Topics range from the bond market to fed rate hikes.
Beacon Financial Group
Beacon Financial Group is a fee-based firm. It’s also the second of two firms on this list that’s an insurance broker/agent, which is helpful if you need those services, but less so if you don’t want an advisory firm that may try to sell you products. The firm also financially benefits from its participation in TD Ameritrade’s Institutional customer and may recommend these services.
Beacon Financial Group does not have a set account minimum needed to work with them, though it advises that a minimum fee may be imposed for certain financial planning, consulting and investment advisory services. The firm’s client base is split between individuals and high-net-worth individuals.
Beacon Financial Group Investing Philosophy
Beacon Financial Group was founded in 1995 by president and CCO Stephen Engro. The firm takes its clients through a four-step process: introduction, discovery, implementation and planning.
The company states that the goal is to construct a plan that allows a client to live and retire no matter the market conditions. Because of this, Beacon Financial Group takes a long-term approach to investing. The firm believes the financial and economic environment moves cyclically and that different investments can have vastly different results depending on which point in the cycle the market is in.
Beacon Financial Group Resources
Of all the firms on this list, Beacon Financial Group has one of the most robust offerings of client resources. The firm has a blog that’s updated weekly, with topics often linked to the news. It also has a seasonal newsletter, helpful financial explainer videos, resource centers for retirement, estate, tax, investment, insurance, money and lifestyle and tools like calculators and a glossary.
In addition to those offerings, Beacon Financial Group has a mobile app that lets clients receive notifications from the firm and ask questions on the go.
McGowan Group Asset Management Inc.
You’ll need at least $500,000 in investable assets to open an account with McGowan Group Asset Management Inc., the final firm on our Dallas top 10 list. The firm’s Form ADV (SEC-filed paperwork) shows that its client base is split between individuals and high-net-worth individuals.
McGowan has just six advisors, the least of any other firm on this list.
The firm does have two certified private wealth advisors® (CPWAs®), a number that only one other firm on the list can match. However, it’s the only firm on this list that doesn’t have any certified financial planners (CFPs).
The firm is fee-based and it has wrap programs.
McGowan Group Asset Management Background
McGowan Group Asset Management was founded in 2001 by Spencer McGowan, the author of two books who earned a Certified Investment Management Analyst certification (CIMA) in 1997 from the University of Pennsylvania’s Wharton School.
McGowan, who serves as the firm’s president and chief investment strategist, espouses a proprietary cash flow-based investment discipline alongside an advanced performance tracking system.
McGowan Group Asset Management Resources
McGowan Group Asset Management places a big emphasis on Networth Radio, hosted by McGowan Group founder Spencer McGowan. Networth Radio features interviews with nationally recognized authors and Dallas business leaders. There’s a Networth Radio app and a selection of notable past interviews are available on the firm’s website.