Finding a Top Financial Advisor Firm in Fort Lauderdale, Florida
Choosing a financial advisor is tough. You have so many options and it can be hard to sort through them all. That’s why SmartAsset compiled a list of the top advisors in the Fort Lauderdale area. We researched each firm to give you a detailed look at the top four in your area. For more choices, use SmartAsset's free financial advisor matching tool. It will connect you with up to three local advisors.
|Rank||Financial Advisor||Assets Managed||Minimum Assets||Financial Services||More Information|
|1||Palisades Hudson Asset Management, LP Find an Advisor||$ 1,288,639,690||$4,750 minimum annual fee|| || |
Minimum Assets$4,750 minimum annual fee
|2||Socius Family Office, LLC Find an Advisor||$ 543,210,251||No set account minimum|| || |
Minimum AssetsNo set account minimum
|3||Global Wealth Management Investment Advisory, Inc. Find an Advisor||$ 221,377,146||No set account minimum|| || |
Minimum AssetsNo set account minimum
|4||Las Olas Capital Advisors, LLC Find an Advisor||$ 190,118,022||$1,000,000|| || |
How We Found the Top Financial Advisor Firms in Fort Lauderdale, Florida
The firms on this list are all registered with the U.S. Securities and Exchange Commision (SEC). SEC-registered firms are fiduciaries, and are under government rules and regulations. Firms with disclosures or disciplinary issues were cut from the list. We also cut any firms that don't offer financial planning or whose client base isn't at least half individuals (as opposed to institutional investors). The remaining four are listed below, ordered from most assets under management to least. All information is accurate as of the writing of this article.
Palisades Hudson Asset Management, LP
At the top of the list, Palisades Hudson Asset Management, LP manages nearly $1.3 billion in assets. The fee-only firm has 16 advisors and plenty of professional certifications: 10 certified financial planners (CFPs), seven enrolled agents (EA), three certified public accountants (CPAs) and two certified value analysts (CVAs) on staff. (Advisors may have more than one credential.)
The firm doesn’t have a minimum account requirement, but it does charge a minimum annual fee of $4,750 for management services, which it may lower at its discretion. Clients include individuals, high-net-worth individuals, pooled investment vehicles, charitable organizations and corporations.
Palisades Hudson Asset Management Background
The firm was founded in 1997 by Larry M. Elkin, who continues to be the principal owner of the firm through a living trust.
The firm offers investment advisory services to individuals, trusts and other entities. It also advises retirement plans and six private equity funds. It doesn't mention financial planning in its brochure, but it does mark it as an offering in its SEC filings.
Palisades Hudson Asset Management Investing Philosophy
Palisades Hudson uses a long-term investment strategy based on asset allocation. The firm believes in determing an appropriate asset allocation based on each client's investment objectives and risk tolerance, then monitoring performance minimal interference over a period of several years.
The firm typically invests in large-cap and small-cap equities, international equities, real estate equities, natural resource equities, fixed income securities and alternative investments.
Socius Family Office, LLC
Formed in 2005, this fee-based financial advisor manages more than $543 million in assets. Socius Family Office has five advisors who include one certified financial planner (CFP) and one chartered financial analyst (CFA).
Clients are nearly evenly split between those who have high net worths and those who don't (72 to 70). Typical clients include affluent families, executives and entrepreneurs, the suddenly wealthy and athletes and entertainers. The firm also works with charitable organizations.
As its name suggests, the advisory focuses on family office services, It also provides investment management, pension consulting financial planning and recommendation of other advisors. In addition to Fort Lauderdale, Socius has an office in Sewickley, Pennsylvania.
Socius Family Office Background
Robert Konrad is co-founder and primary owner of Socius. Now, he serves as the non-executive chairman. He’s the CEO of Alterna Financial LLC, a private investment management firm that owns 50% of Socius Family Office.
Mark Baniewicz is the CEO, president, co-founder and minority owner of the firm. He has an MBA from University of North Florida and is a CFP (and a former NFL player).
Socius Family Office Investing Strategy
Like many, if not most, firms, Socius Family Office will tailor your investments to your financial situation and objectives. It will design and implement a custom-designed portfolio and monitor it on an ongoing basis. When choosing securities, it generally uses charting/technical and fundamental methods of analysis. Long-term purchases, short-term purchases, trading, short sales, margin trading and option trading may all be part of the firm's investing strategy.
Global Wealth Management Investment Advisory, Inc.
Founded in 2017, Global Wealth Management is the youngest firm on the list. The firm has six advisors and more than $221 million in assets under management.
With no set account minimum, the firm primarily works with individuals who do not have high net worths. It also serves high-net-worth indivduals, charitable organizations, corporations and other business entities. In addition to Fort Lauderdale, the practice has offices in Aventura, Boca Raton, Boynton Beach, Coral Gables, Coral Springs, Weston and Jupiter.
Global Wealth Management Background
Andrew Costa and Grant Conness are equal owners of Global Wealth Management, having founded the firm together in 2017. In addition to the two co-founders, there are four other advisors. They may be brokers and/or insurance agents, too. These non-advisor roles earn transaction-based fees, which can pose a conflict of interest. That said, as an SEC-registered firm, Global Wealth is legally required to put clients' interests first.
Global Wealth Management Investing Philosophy
Global Wealth Management employs a mix of long-term purchasing, short-term purchasing and frequent trading strategies. The firm uses the strategies that it determines make the most sense for each client's risk tolerance, time horizon and investment objectives. When evaluating securities, the firm typically applies several methods of analysis, including charting analysis, fundamental analysis, technical analysis and cyclical analysis.
Las Olas Capital Advisors, LLC
Last but not least, this fee-based advisory firm generally requires a $1,000,000 balance for investment advisory services. As a result, the majority of its clients are high-net-worth individuals, with only six non-high-net worth individual clients. Las Olas Capital Advisors also works with a few corporations.
Among the three advisors, there is one chartered financial analyst (CFA). There are also two brokers, who collect transaction-based fees. This poses a potential conflict of interest, but the firm is bound by its fiduciary duty to work in clients' best interests.
Las Olas Capital Advisors Background
Las Olas Capital Advisors was established in 2015. It's owned by TCH II, LLC and Doris Investments, LLC, which in turn is owned by Paul Tanner and Jodi Jeffreys Tanners (co-founders) and the Sembler Family Trust.
The firm offers portfolio management services through its wrap fee program. It also provides non-transactional consulting services, investment banking advice and advisory services to private funds.
Las Olas Capital Advisors Investment Philosophy
Las Olas Capital Advisors primarily uses fundamental analysis when evaluating securities. Fundamental analysis is seeks to measure the intrinsic value of a company or stock using financial and economic information.
Like many, if not most, firms, Las Olas will customize its investment advice to each individual client’s investment objectives, time horizon and risk tolerance. As of its recent SEC filings, assets in separately managed accounts were invested as:
- 56% in bonds
- 19% in securities issued by registered investment companies (like mutual funds) or business development companies
- 15% in cash and cash equivalents
- 8% in securities issued by pooled investment vehicles
- 1% in exchange-traded equity securities (like common stocks)
- 1% in derivatives