Finding a Top Financial Advisor Firm in Florida
Because a large state like Florida has a lot of financial advisor firms, it’s difficult to narrow them down and find one that meets your exact needs. So SmartAsset’s investment experts have done the hard work for you and determined the top Florida financial advisor firms. We list each firm’s fee structure, services, account minimums and more below to help you differentiate among the firms and narrow down your choices.
|Rank||Financial Advisor||Assets Managed||Minimum Assets||Financial Services||More Information|
|1||WE Family Offices Find an Advisor||$8,834,748,220||No set account minimum|| || |
Minimum AssetsNo set account minimum
|2||CV Advisors, LLC Find an Advisor||$6,810,503,832||$50,000,000|| || |
|3||Finaccess Advisors, LLC Find an Advisor||$4,711,487,444||No set minimum|| || |
Minimum AssetsNo set minimum
|4||Lamco Advisory Services, Inc. Find an Advisor||$3,154,633,799||$1,000,000|| || |
|5||Water Oak Advisors, LLC Find an Advisor||$2,246,113,015||Varies based on account type|| || |
Minimum AssetsVaries based on account type
|6||Resource Consulting Group Find an Advisor||$2,030,370,126||$1,000,000|| || |
|7||Yale Capital Corp. Find an Advisor||$1,912,499,533||$10,000,000|| || |
|8||GenTrust Find an Advisor||$1,746,293,777||$10,000,000|| || |
|9||Ingham Retirement Group Find an Advisor||$1,718,598,655||$100,000|| || |
|10||Capital Wealth Advisors Find an Advisor||$1,565,398,627||No set account minimum|| || |
Minimum AssetsNo set account minimum
How We Found the Top Financial Advisor Firms in Florida
Our SmartAsset personal finance experts only considered Florida-based financial advisor firms registered with the U.S. Securities and Exchange Commission (SEC) for placement on this list. That’s because all SEC-registered firms are bound by fiduciary duty, which requires them to act in clients’ best financial interests. We removed firms from contention for one of three reasons: they didn’t manage individual accounts, didn’t offer financial planning services or had past or ongoing disciplinary issues. The top firms that met these requirements are listed below, ordered from the firm with the most assets under management (AUM) to the firm with the least. All information is accurate as of the writing of this article.
WE Family Offices
WE Family Offices sits at the top of our Florida list. However, the Miami-based firm has an individual client base of just over 100 clients, all of whom have high net worths. SmartAsset named this firm the top financial advisor firm in Miami.
Although this fee-only firm technically has no set account minimum, it does charge a base annual fee of $150,000 for its family office services. It should therefore come as no surprise that WE Family Offices only serves ultra-high-net-worth and high-net-worth individuals and their families. As a comparison, most other firms on this list also work with some combination of businesses, charitable organizations and retirement plans.
At this firm you’ll find advisor certifications such as certified financial planner (CFP), certified public accountant (CPA), chartered financial analyst (CFA) and chartered alternative investment analyst (CAIA). WE Family Offices charges performance-based fees if your portfolio exceeds projections.
WE Family Offices Background
Holding company WE Family Offices Holdings, LLC owns this firm. It was founded in 2000. Managing partners Mel Lagomasino, Santiago Ulloa and Michael Zeuner have all been working in the financial services industry for several decades.
Because this is a family office, all of its services are based around comprehensive financial planning and management. Its offerings encompass succession planning, investment manager selection, service provider selection and fee negotiation, investment transaction verification and asset and investment portfolio reporting. WE Family Offices avoids providing any type of legal, tax or accounting advice.
WE Family Offices Client Experience
Given that it is a family office, comprehensiveness is paramount to how WE Family offices manages its clients’ portfolios. This process opens with a complete overview of your family’s assets, including your holdings, sources and uses of cash and any existing wealth transfer plans. This information is then paired with your family’s history, values, roles, decision-making processes, communication practices and investment goals.
An investment strategy is then built based on these familial goals, as well as your risk tolerance and any potential tax or estate planning issues. All the while, the firm will work to help your family achieve financial literacy and independence so that this plan doesn’t go to waste.
Once your advisor has implemented your plan, he or she will manage your account on a daily basis. If your family requires it, the firm can offer support to ensure that the family remains engaged in the plan. Should your financial needs or objectives change, the firm also has the ability to repurpose its plans to fit the altered circumstances.
Much like WE Family Offices, CV Advisors, LLC has a small individual client base made up of high-net-worth individuals. Other institutional clients include banks, charities, insurance companies and other businesses.
CV requires clients to have $50 million in assets to open an account. A fee-only firm, it is not engaged in any other types of financial businesses.
CV Advisors Background
CV Advisors was established in 2009, making it the one of the youngest firms on our list. The firm is owned by founding partners Elliot Dornbusch, Alexandre Mann and Matthew J. Storm.
The firm's investment advisory services include asset allocation analysis, instrument and security selection, performance reporting and portfolio monitoring. These services can be provided on both a discretionary and non-discretionary basis.
CV Advisors Investing Strategy
CV Advisors typically creates portfolios for its clients which include (but are not limited to) fixed income, securities, exchange-traded funds (ETFs), private equity funds, hedge funds, certificates of deposit (CDs), managed accounts and mutual funds.
The firm's investment philosophy prioritizes liquidity, risk management and investment cost efficiency. When providing advisory services, the firm will take into account your investment objectives, investment experience, financial situation and risk tolerance.
Finaccess Advisors, LLC has a small individual client base made up of fewer than 70 individuals. It is also the second firm on SmartAsset’s list of the top financial advisor firms in Miami.
In addition to individuals, the firm works with corporations and pooled investment vehicles. Finaccess Advisors does not require a minimum amount of assets to open an account. Finaccess is a fee-only firm, which means its advisors do not receive transaction-based compensation.
Finaccess Advisors Background
Finaccess Advisors was established in 2009, making it the youngest firm behind just GenTrust, the 10th firm on this list. Grupo Finaccess S.A.P.I. de C.V., a network of financial service businesses, owns this firm.
Besides typical asset management, Finaccess Advisors offers a plethora of financial planning services. These services include retirement planning, trust planning, estate planning, education cost planning, cash flow planning and insurance review.
Finaccess Advisors Investing Strategy
While Finaccess does a lot of retirement planning, it actually makes heavy use of short-term purchasing. The firm uses short-term purchases for two reasons: to take advantage of short-term returns in the market and to accommodate investors with hefty liquidity needs.
Besides your need for liquidity, your personal risk tolerance and time horizon will also inform how your investment plan is built. The firm stresses that you can adjust your objectives at any point and rebalance your portfolio to take the changes into account.
Lamco Advisory Services
Lamco Advisory Services, Inc. is a fee-only firm and is next on our Florida list. It sadvisors have several advisory certifications, including certified financial planner (CFP), accredited investment fiduciary (AIF), chartered alternative investment analyst (CAIA) and certified investment management analyst (CIMA).
You’ll need at least $1,000,000 in investable assets to be a client at this firm. Its clients include individuals, high-net-worth individuals, pension plans, other investment advisors, charitable organizations and corporations.
Lamco Advisory Services Background
Lamco Advisory Services was founded in 1991 and is wholly owned by The LAMCO Group, Inc. Nicholas J. Lamoriello is the CEO of Lamco Advisory Services and the president of The LAMCO Group, Inc.
The firm provides wealth planning and investment management services, as well as services for qualifying employee benefits plans like pensions or 401(k) plans.
Lamco Advisory Services Investment Philosophy
Lamco Advisory prioritizes asset allocation and a long-term perspective (at least three years) when formulating the proper investment strategy for its clients. The firm typically places funds in mutual funds, exchange traded funds (ETFs) or with separate account managers. However, the firm may also invest in individual securities, private investment partnerships and real estate transactions at the direction of the client.
Water Oak Advisors
Water Oak Advisors, LLC has one of the smallest teams on this list. Across this group, there are several certified financial planners (CFPs) and chartered financial analysts (CFAs).
This fee-only financial advisor firm is located in Winter Park, and it requires a minimum account sizes of $1 million and up. Individuals and high-net-worth individuals, corporate pension and profit-sharing plans, charitable institutions, endowments and other businesses are the firm’s most common clients.
Water Oak includes performance-based fees in its fee structure. However, it’s important to remember that the firm will only charge these fees if your portfolio outperforms its original projections.
Water Oak Advisors Background
President Clarke Lemons opened Water Oak Advisors in 1997. Lemons has remained the firm’s principal owner to this day along with Stephen A. Curley and Scott Macaione.
The services provided by this firm are centered around three popular areas of financial management: goals planning, estate planning and tax planning. Because the firm believes that it can flesh out the rest of your account based on these service offerings, personalization is a main focus.
Water Oak Advisors Investing Strategy
Water Oak Advisors has a unique but concise investment strategy that is centered around finding a way for clients to gain access to investments historically popular with only large endowments and pension plans. This firm affords clients special institutional pricing for these investments.
Once the firm purchases these investments, it will allocate them depending on your model portfolio. You and your advisor will work together not only to identify your current financial situation, but also to pinpoint your future goals. Your portfolio will ultimately boil down to your risk tolerance, time horizon and desired level of liquidity.
The firm’s investment strategy is heavily based on modern portfolio theory. This popular theory states that investors should only accept an increase in risk if there is a proportionate and corresponding jump in return - otherwise, the added risk is simply not worth it.
Resource Consulting Group
Resource Consulting Group also ranks on SmartAsset’s list of the top financial advisor firms in Orlando. It is a fee-only firm that is heavily focused on serving high-net-worth individuals. It stipulates that clients must have at least $1 million in investable assets, though the firm does serve a small number of non-high-net-worth individuals. Aside from these two groups, the firm’s client base is also comprised of pension and profit-sharing plans, estates, trusts, employees, businesses and charitable organizations.
Resource Consulting Group Background
Founded in 1988, Resource Consulting Group is on the older side. Michael Davis, the firm’s original founder and CEO, principally owns the independent firm. He is a certified financial planner (CFP). Both AdvisoryHQ and the Financial Times ranked this firm one of the top in the nation in 2017.
When you strike up a client relationship with this firm, it starts by exploring your current financial situation and where you want to end up before you select a service. But as you and your advisor become increasingly familiar with each other, you’ll work together to create a specific financial plan to meet your needs. This differs from how many other firms operate, which typically involves the firm asking clients to first select the services they need.
Resource Consulting Group Investing Strategy
Like most firms, your personal financial objectives, risk tolerance and time horizon shape your portfolio. But where this firm begins to differ is its focus on passive investments. The investments the firm uses in its client portfolios include index funds, passive mutual funds and investment trusts.
Before it makes any specific investment decisions, the firm analyzes market data. To do this, Resource Consulting Group utilizes the services of Morningstar and DFA, which provide academic research. Factors the firm considers include a fund’s comparative performance, structure and turnover, as well as whether there are any options with low operating expenses.
Yale Capital Corp.
Saint Petersburg-based firm Yale Capital Corp. has a simple fee structure. Its fees are based on a percentage of your assets under management, with the occasional performance-based fee cropping up as well. It is a fee-only firm.
The firm requires a minimum of $10 million in investable assets to open an account. As you might infer from this high minimum, the firm serves only high net worth individuals. The firm’s team includes certifications such as certified financial planner (CFP) and certified private wealth advisor (CPWA).
Yale Capital Corp. Background
Yale Capital Corp. is owned by Cheyne Pace. Pace founded the firm in 2004 after spending 10 years working in finance, and he continues to serve as the firm's president, chairman and chief investment officer (CIO) today.
The firm provides investment advice and asset management services to its clients, along with financial planning services. Further, the firm specializes in managing tax-advantaged holdings such as master limited partnerships.
Yale Capital Corp. Investing Strategy
Yale Capital Corp. seeks to tailor its investment strategies to each client, factoring in the client's age, investment objectives, income, cash-flow requirements and risk tolerance when determining its approach. The firm also considers broader market conditions and tax-efficiency before making investment decisions.
When dealing with high-net-worth individuals, Yale Capital believes that a strategy involving frequent trading will involve more costs than is justifiable. The firm focuses instead on building portfolios of dividend-bearing and tax-efficient asset classes.
GenTrust is one of our top financial advisor firms in Miami. It is a fee-based firm that calls for a minimum of $10 million in investable assets to open an account. The firm’s typical clients are individuals both with and without a high net worth, pensions, profit sharing plans, soverign wealth funds, corporations and pooled investment vehicles.
Across this firm’s leadership, investment and advisory teams, you’ll find certifications such as certified financial planner (CFP), certified investment management analyst (CIMA), chartered financial analyst (CFA), certified public accountant (CPA) and chartered retirement planning counselor (CRPC).
Some advisors at GenTrust trade securities on a commission basis. The firm also charges performance-based fees if your portfolio exceeds pre-investment projections. However, the firm is a fiduciary, binding it to act in clients’ best interests.
GenTrust was formed in 2011. Founding principals Jim Besaw, George Perez and Gui Socarras opened the firm. That trio, alongside principals Eli Cohen and Hugh Nikola, own the firm.
While income planning and cash flow analysis are staples of this firm’s financial planning program, the firm will also customize its services according to what youneed. For RIA clients, GenTrust offers research, consulting and support at a wholesale rate.
GenTrust Investing Strategy
GenTrust strives to give individual clients the same high-level portfolio design and risk management services that institutional clients receive. To do this, the firm utilizes both recent academic market research and its own proprietary analysis to develop portfolios that closely align with clients’ risk tolerances, time horizons and liquidity needs. The firm makes it clear that its strategy is never set in stone, however, as it reacts to the market’s movement.
Aside from the above concepts, GenTrust bases its investment philosophy on five core tenets: asset allocation, diversification, macro-risk-factor-driven allocations, scenario-based risk management and valuation. While these each serve different purposes, the firm says that together they should help it to choose the right investments and, in turn, build stronger client portfolios.
Ingham Retirement Group
Ingham Retirement Group, a fee-only firm, works mostly with individuals and pensions plans, but it also offers services to high-net-worth individuals. You’ll need at least $100,000 to be a client.
Ingham Retirement Group Background
Ingham Retirement Group, which also goes by Russell Investment Advisors, was founded in 1991. It’s principally owned by Kenneth Ingham and Linda Ingham. The firm is connected to Alliance Benefit Group of Florida, a more full-service firm that also provides record-keeping and actuarial services.
Ingham Retirement Group provides individual portfolio management, model portfolio management, pension consulting services, money manager selection and financial planning services.
Ingham Retirement Group Investment Philosophy
Ingham Retirement Group prioritizes asset allocation over security selection, attempting to determine the appropriate ratio of securities, fixed-income, and cash for each client’s investment goals and risk tolerance. The firm also stresses the importance of a long-term perspective when it comes to stable investment returns. Consequently, it doesn’t do much short-term purchasing or trading.
Capital Wealth Advisors
Capital Wealth Advisors (CWA) rounds out our list of Florida's top financial advisory firms. The firm works with high-net-worth individuals, non-high-net-worth individuals, pensions, profit sharing plans, charities, insurance companies and businesses. There is no minimum investment requirement at this firm.
The advisory team includes several certified financial planners (CFPs) and is a fee-based firm. Its advisors can earn commissions from third parties for selling insurance products, but those advisors are still bound to act in the client's best interest despite this potential conflict of interest.
Capital Wealth Advisors Background
CWA was founded in 2011. The firm is owned by Blaine Michael Ferguson, William Nick Beynon and Fundamental Global Investors, LLC. Both Ferguson and Beynon provide advisory services on behalf of CWA.
CWA provides a wide range of financial planning services and portfolio management services. However, it mainly focuses on estate planning and insurance management.
Capital Wealth Advisors Investment Strategy
CWA tailors its investment strategies based upon your financial situation, tolerance for risk and investment objectives. Advisors work with clients to develop asset allocation strategies. Advisors use a wide range of funds to build client portfolios, such as equities, fixed-income securities, mutual funds, exchange-traded funds (ETFs) and real estate investment trusts (REITs).