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||Crow Holdings Capital Find an Advisor||$12,693,855,000||$40,000,000|| || |
|2||Tolleson Private Wealth Management Find an Advisor||$5,604,815,100||$10,000,000|| || |
|3||RGT Wealth Advisors Find an Advisor||$4,026,863,500||$3,000,000|| || |
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|4||Southern Wealth Management, LLP Find an Advisor||$2,241,951,100||$1,000,000|| || |
|5||Paratus Financial, Inc. Find an Advisor||$1,478,013,700||No set account minimum|| || |
Minimum AssetsNo set account minimum
|6||True North Advisors, LLC Find an Advisor||$1,209,259,900||$1,000,000|| || |
|7||Lee Financial Company, LLC Find an Advisor||$1,093,153,100||$50,000|| || |
|8||Quest Capital Management, Inc. Find an Advisor||$1,037,421,600||Varies based on account type|| || |
Minimum AssetsVaries based on account type
|9||Beaird Harris Find an Advisor||$1,028,063,500||$500,000|| || |
|10||Wealthstreet Investment Advisors, LLC Find an Advisor||$921,452,300||$500,000|| || |
How We Found the Top Financial Advisors in Dallas
To determine the top 10 financial advisor firms in Dallas, SmartAsset first compiled all firms in the city that are registered with the U.S. Securities and Exchange Commission (SEC), 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.
Crow Holdings Capital
Crow Holdings Capital, or CHC, is the top firm on this list, as well as SmartAsset's review of the top financial advisors in Texas. The firm is one of the largest in the region, as it has $12.7 billion in assets under management and 107 advisory employees. Across this group, there are nine certified public accountants (CPAs) and one chartered financial analyst (CFA).
Crow Holdings Capital is intently focused on ultra high-net-worth individuals and families, as well as the asset management of private equity real estate funds. As a matter of fact, the firm is split into two segments: Crow Holdings Capital Investment Partners, which handles individuals, and Crow Holdings Capital Real Estate, which handles real estate asset management. Due to this, the fee-only firm requires a minimum investment of $40 million.
Crow Holdings Capital Background
CHC is not independently-owned, but rather its ownership shares are solely held by Texas-based holding company Crow Family Holdings. Despite being Crow Holdings Capital's principal owner, the firm is a passive owner, which means it does not affect the daily operations of the firm.
Crow Holdings Capital is built around the idea that clients will have access to a holisitic set of advisory services that span throughout financial planning, investment advising, consulting, family office and other non-advisory offerings.
Crow Holdings Capital Investing Philosophy
Being that Crow Holdings Capital is a "big picture" type of firm, it's no surprise that it employs a slightly different investment philosophy than most of its contemporaries. Instead of investing in the usual securities, CHC does so in a more indirect manner. For example, the firm looks to allocate client assets in underlying funds, underlying accounts, co-investments and other financial instruments.
When the firm chooses which underlying managers it'll invest with, it looks at what investing styles they often use. These vary wildly, as they could theoretically encompass equities, master limited partnerships (MLPs), private debt, bonds and other fixed-income securities, asset-backed securities, currencies, commodities, futures, warrants, options and more.
Tolleson Private Wealth Management
Tolleson Private Wealth Management is a fee-only firm that has many advisory certifications on its staff of 55 financial advisors. This list entails four certified financial planners (CFPs), six certified public accountants (CPAs), two certified private wealth advisors (CPWAs), two chartered financial analysts (CFAs), one personal financial specialist (PFS) and one certified investment management analyst (CIMA). The firm is located in northern Dallas and manages $5.6 billion in assets under management.
$10 million in investable assets is necessary to begin a client relationships with Tolleson. Such a requirement has likely led the firm's client base to heavily consist of high-net-worth individuals. Beyond this client type, Tolleson commonly works with estates, trusts, foundations, funds, banks and philanthropic trusts.
Tolleson Private Wealth Management Background
John C. Tolleson, a 50-plus year veteran of the financial services industry, formed Tolleson Private Wealth Management in 1997. Prior to his time as the executive chairman of Tolleson, John Tolleson founded First USA, a retail banking and financial services company that he grew into a multi-billion dollar public corporation.
Investment management is the key offering of Tolleson Private Wealth Management. The firm divvies this service into subsections like investment strategy development, asset allocation determination, consulting, performance monitoring and third-party investment manager analysis.
Tolleson Private Wealth Management Client Experience
For individual and family clients of Tolleson Private Wealth Management, the firm has a whole team specifically devoted to holistically managing your financial life. The firm states that this consists of multiple parts financial planning, investment management and wealth management, as well as tax efficient investing strategies and large purchase planning.
RGT Wealth Advisors
RGT Wealth Advisors has the most assets under management (AUM) 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 in investable assets. Unsurprisingly, more than three-quarters of the firm's clients are high-net-worth individuals.
In terms of expertise, RGT Wealth Advisors has a sizable 16 certified financial planners (CFPs), giving it more than just about any other firm in our top 10. In addition to that, the independent, fee-only firm has nine chartered financial analysts (CFAs), six certified public accountants (CPAs), two certified divorce financial analysts (CDFAs) and one chartered financial consultant (ChFC).
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 is largely employee-owned, as it has a total of 16 managing directors.
The firm offers financial planning, portfolio management, wealth advisory and family office services and places an emphasis on customizing its services to clients' individual needs. RGT Wealth Advisors advertises that its advisors 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, LLP is a fee-based financial advisor firm that caters to the wealthy. It’s also one of the only firms on this list 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 the top firm on this list, RGT Wealth Advisors, but it's still hefty.
Southern Wealth Management, LLP Background
Southern Wealth Management has been in the business of investment advisory and financial planning for over a decade. 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.
Southern Wealth Management, LLP Investing Strategy
A Southern Wealth portfolio may be comprised of individual equities, bonds and/or no-load and load-waived mutual funds. The percentage that each of these investment types occupies within your portfolio will be dependent on your investor profile. This takes into account factors such as your risk tolerance, investment objectives, liquidity needs, time horizon and any investment restrictions you may have.
Paratus Financial, Inc.
Paratus Financial, Inc. is a fee-only financial advisor firm that serves an even amount of individuals with and without a high net worth. Families, estates, trusts, corporations, endowments and charitable foundations round out its typical clientele. There is no minimum account size requirement at this firm.
The advisory team at Paratus is seven members strong and they manage $1.5 billion in client assets. The firm has two certified financial planners (CFPs), two chartered financial analysts (CFAs) and two certified public accountants (CPAs).
Paratus Financial, Inc. Background
Managing director Bonnie Free Grisz created Paratus Financial in 2003. While Grisz remains the firm’s principal owner, Kyle Grisz, Olivia Smith and Paige Boyer were all appointed directors as well in 2017. Bonnie Grisz has spent 35 years working in finance and is currently an adjunct professor at the University of Dallas Graduate Management School.
Paratus Financial’s calling card is financial planning, but it breaks this service down into different versions. For example, you can get tax planning, investment management, estate planning, retirement planning and risk management.
Paratus Financial, Inc. Investing Strategy
The investment portfolios Paratus Financial creates adhere to a strong, long-term philosophy that means the firm looks to hold securities in a client’s account for at least one year at a time. Although this overarching theme remains constant, each portfolio’s asset allocation will be customized to your liquidity needs, risk tolerance, tax situation, investment goals and any other applicable considerations.
True North Advisors, LLC
While True North Advisors’ client base is comprised of a majority of high-net-worth individuals, it also serves a number of individuals without a high net worth, retirement plans and charitable organizations. 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-only firm. It has just two certified financial planners (CFPs), which is on the lower side compared to many of the other firms on this list. Aside from its CFPs, the firm boasts three certified private wealth advisors (CPWAs), two chartered financial analysts (CFAs), one certified public accountant (CPA), one chartered alternative investment analyst (CAIA) and one certified divorce financial analyst (CDFA).
True North Advisors has been rated among the top independent wealth firms by authorities like Financial Times, AdvisoryHQ and D Magazine.
True North Advisors, LLC Approach
True North Advisors, LLC, an employee-owned firm, was founded in 2000. The firm's co-founder and CEO, Scott Wood, formed the firm on the belief that fee-only fee structures produce more impartial advice than commission-based fee structures.
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, LLC Resources
True North Advisors has a blog, The Vista, that’s updated about twice a month. Blog topics range from cryptocurrency to company announcements.
It also has a sleekly designed website that’s easy to navigate.
Lee Financial Company, LLC
Founded in 1975, Lee Financial Company, LLC 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 Company, LLC Background
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 benefitting clients.
Lee Financial is guided by the “WholeVision” approach, which was founded on the idea that “the whole is greater than the sum of its parts.” This 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, energy and natural resources, private debt and distressed debt.
Lee Financial Company, LLC Resources
Lee Financial has a blog that’s updated about once a month. It covers newsy topics, like timely market commentary, and broader informational pieces, with articles about tax benefits, 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. The lowest minimum for one of the firm’s multiple investment advisory account options, the PASSPORT Account, is $25,000. However, it is a fee-based firm that employs advisors who can earn commissions from the sale of insurance products. Quest is a fiduciary, though, legally binding it to act in clients' best interests.
The firm boasts a noteworthy array of expertise. In addition to its 13 certified financial planners (CFPs), Quest also has three accredited estate planners (AEPs), one certified private wealth advisor (CPWA) and one 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 1987. 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 for you.
A page on Quest’s website compiles various financial resources, including the firm’s investment commentary 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.
If you’re looking for a fee-only firm with tax expertise, Beaird Harris 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 solely an accounting firm, and though it’s since branched out into wealth advising, it still specializes in tax services. The firm has 22 certified public accountants (CPAs) - by far the most of any entry on this list. Outside of CPAs, Beaird Harris has a collection of certified financial planners (CFPs), chartered financial analysts (CFAs), accredited estate planners (AEPs) and more.
From 2014 - 2017, Beaird Harris was recognized by Financial Times as one of the nation’s top 300 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, trust 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, municipal securities, insurance products, mutual fund shares, U.S. government securities and partnership investing.
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.
Wealthstreet Investment Advisors, LLC
As a fee-only firm, Wealthstreet Financial, Inc. earns all of its compensation via its asset-based fee schedule. In contrast, a fee-based firm would may receive commissions for the sale of certain insurance or securities products. This firm has $921 million in assets under management with a team of five advisors. The staff includes two chartered financial analysts (CFAs) and one certified public accountant (CPA).
In order to be considered to become a client of Wealthstreet, you must have $500,000 ready to invest. Outside of the majority of the firm’s client base being individuals with and without a high net worth, Wealthstreet maintains relationships with businesses, pension plans, profit-sharing plans and charitable organizations.
Wealthstreet Financial, Inc. Background
In June 2017, Wealthstreet Financial joined forces with Gerald L. Ray & Associates, Ltd., a Dallas-based family office and investment management boutique. As things currently stand, Gerald L. Ray & Associates owns nearly half of Wealthstreet’s shares, while the remaining ownership is left to managing directors and portfolio managers Michael Kane and Michael Beck.
The premier offering at Wealthstreet is investment advisory services, but there are parts of financial planning worked into them. Those that are recently divorced or widowed, non-profit organizations and 401(k) plans can use the firm’s specialized services.
Wealthstreet Financial, Inc. Investing Philosophy
Wealthstreet Financial offers three proprietary investment strategies that are angled toward different types of clients. In order from the riskiest to the least risky, they are the equity strategy, the alternatives strategy and the fixed-income strategy. The risk tolerance, investment objectives and time horizon of each client will dictate which strategy they’re paired with. Here’s a breakdown of what each usually contains:
- Equity Strategy: 25 - 50 large-cap growth, mid-cap leaders and equity exchange-traded funds (ETF) securities with low turnover
- Alternatives Strategy: mutual funds and ETFs
- Fixed-Income Strategy: U.S. and global fixed-income ETFs, real estate investment trusts (REITs) and master limited partnerships (MLPs)