Austin-based financial advisor Maslow Wealth Advisors is for those who have at least $1 million in investable assets and prefer working with a fee-only advisory firm. Maslow, previously known as Durbin Bennett Peterson Private Wealth Management, LLC, holds the No. 3 spot on SmartAsset's list of top financial advisors in Austin, Texas.
The firm primarily works with individual clients, both above and below the high-net-worth threshold. Billed mainly as a wealth management firm providing investment management and strategic wealth planning, Maslow also provides retirement planning, tax planning and estate planning services.
Maslow Wealth Advisors Background
Richard Bennett co-founded the firm in 1987 after serving as director of financial planning services at Price Waterhouse Coopers. However, the firm changed its name to Maslow Wealth Advisors in February 2024. Today, Bennett remains the strategic planning partner at the firm. Bennett is a certified public accountant (CPA) and a Certified Financial Planner™ (CFP®).
Maslow's Form ADV lists seven owners:
- Matthew Jachimiak, parter and chief investment officer
- Paul Lueb, partner
- Tylor Seaman, partner and CEO
- Ashley Kilgust, partner
- Angela Smith, partner
- Kevin Tiernan, partner
- Kathryn Brown, partner
In addition to Bennett, there area eight CFPs® on staff, as well as other credentialed advisors.
Services Offered by Maslow Wealth Advisors
Maslow provides both discretionary and non-discretionary asset management services and investment consulting services. Discretionary management means you can choose to have your portfolio managed without your input. That can be preferable for those who don’t have the time or expertise to actively manage their account. If you’re a hands-on person, a non-discretionary account means that you have final say on all trading decisions.
In addition to asset management, Maslow offers what it calls Strategy Wealth Planning, which may include estate planning or tax planning services, 401(k) management, retirement plan advisory services and others. The firm also can make IRA rollover recommendations and consulting services on isolated areas of concern.
Maslow Wealth Advisors Client Types and Minimum Account Sizes
Maslow is open to working with a range of clients, but the majority are high-net-worth individuals. The firm also serves individuals without a high net worth, pooled investment vehicles and charitable organizations.
The firm requires an account minimum of $1 million for portfolio management and may incur other minimum account requirements for other services. All minimum account requirements are grandfathered in if they happen to change in the future. All minimum account requirements are subject to being changed at the sole discretion of the firm.
Maslow Wealth Advisors Investing Philosophy
At Maslow, your portfolio is constructed with the belief that “markets are irrational or inefficient” over the short term, but efficient over the long term.
This translates to portfolios made with passive core components and more active satellite components. Your balance of passive to active is determined during your discussions with your advisor.
Rebalancing is another core tenet of Maslow's investment philosophy. This is done on an as needed basis, instead of a monthly or quarterly schedule. This means that the company adheres to tolerance ranges for rebalancing decisions. Ultimately, this saves transaction costs as well as the generation of capital gains (which can impact taxes).
Maslow places more value on the net return of a portfolio – how much it grows after trading fees, market slippage and taxes are accounted for – compared to gross return. As a result, the firm prefers long-term gains over short-term gains. Tax implications are also considered which means putting tax-disadvantaged assets into tax-deferred accounts to reduce your tax liability.
Fees Under Maslow Wealth Advisors
Maslow charges wealth management fees based on the client’s assets under management. Below is the firm’s current tiered fee schedule (these fees do not include transactions costs, brokerage commissions and other expenses):
| Portfolio Value | Base Fee |
| First $1,000,000 | 1.00% |
| $1,000,001 to $5,000,000 | 0.75% |
| $5,000,001 to $10,000,000 | 0.50% |
| $10,000,001 to $25,000,000 | 0.35% |
| Over $25,000,000 | 0.20% |
Accounts smaller than $1 million are charged more than the industry average, which is 1.02%, according to a 2023 report from AdvisoryHQ.
| *Estimated investment management fees do not include brokerage, custodial, third-party manager or other fees, which can vary in amount. | |
| Estimated Investment Management Fees at Maslow Wealth Advisors* | |
| Your Assets | Annual Fee Amount |
| $1MM | $10,000 |
| $5MM | $40,000 |
| $10MM | $65,000 |
| $25MM | $117,500 |
| $50MM | $167,500 |
Maslow provides strategic wealth planning in an effort to help you make current and future financial decisions based on your retirement needs, cash flow, investments, insurance and tax matters. This service is included if you’re already paying for investment supervisory services. If you’d like Strategic Wealth Planning without having account management, you’ll pay a fixed fee that can range from $5,000 to $40,000.
Learn more about advisors' typical costs here.
Maslow Wealth Advisors Awards and Recognitions
Before its name change, the firm was recognized as the No. 42 registered investment advisor in 2015 by Bloomberg. CNBC named the company No. 52 out of the top 100 fee-only wealth managers of 2015. In 2015 and 2016, the Financial Times named Durbin Bennett as one of its top financial advisors.
What to Watch Out for
Maslow reported no disclosures of legal or disciplinary action in its most recent filings with the Securities and Exchange Commission.
Opening an Account With Maslow Wealth Advisors
To start a relationship with Maslow, you can call the firm at (512) 610-6930 to schedule an appointment, visit the website and fill out a contact form or send an email to info@maslow-wealth.com.
All information is accurate as of the writing of this article.
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