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 all the top advisors in the Fort Lauderdale area. We researched each firm to give you a detailed look at the top five in your area. Keep reading to find the best firm for your financial needs.
|Rank||Financial Advisor||Assets Managed||Minimum Assets||Financial Services||More Information|
|1||Palisades Hudson Asset Management Find an Advisor||$1,416,671,166||No minimum|| || |
Minimum AssetsNo minimum
|2||Socius Family Office Find an Advisor||$390,830,773|| |
| || |
|3||Las Olas Capital Advisors Find an Advisor||$162,150,344||No minimum|| || |
Minimum AssetsNo minimum
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|4||Personal Portfolio Management, Inc. Find an Advisor||$150,619,870|| || |
|5||Global Wealth Management Investment Advisory, Inc. Find an Advisor||$148,603,003|| || |
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, and this list only includes firms which manage individual accounts. The final three are ordered from most assets under management to least.
Palisades Hudson Asset Management, L.P.
This fee-only firm has 17 advisors and plenty of professional certifications, with 10 certified financial planners (CFPs), seven enrolled agents (EA), three certified public accountants (CPAs) and one certified value analyst (CVA) on staff. The firm doesn’t have a minimum account requirement, but it does charge a minimum annual fee of $4,750 for management services.
The firm works with a range of clients including individuals, high-net-worth individuals, pooled investment vehicles, charitable organizations and corporations.
Palisades Hudson Asset Management, L.P. Background
The firm was founded in 1997 by Larry M. Elkin, who continues to serve as principal owner of the firm via the Larry M. Elkin Living Trust and Palisades Hudson Asset Management, Inc., both of which he owns. The firm offers investment advisory services to individuals, trusts and retirement plans, fund management services and consulting services.
Palisades Hudson Asset Management, L.P. Investment 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
This fee-based financial advisor has just under $391 million in assets under management and was formed in 2005. Socius Family Office generally requires new clients to have at least $1 million in investable assets. Socius Family Office has five advisors and offers investment management, financial strategy and family office services. The firm, as indicated by its name, focuses on family office services, in particular, high-net-worth families ($1 million or more).
Socius has offices in Fort Lauderdale and Sewickley, Pennsylvania. Typical clients include affluent families, executives and entrepreneurs, the suddenly wealthy and athletes and entertainers.
Socius Family Office Background
Robert Konrad is the 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, founder and minority owner of the firm. He has an MBA from University of North Florida and is a certified financial planner (CFP). Baniewicz is a former NFL player and has lived in South Florida since 2004.
Among the five advisors at the firm, there is one chartered financial analyst (CFA). As mentioned above, Baniewicz is a CFP.
Socius Family Office Transparency Audit
Socius offers new clients a transparency audit for a one-time fee. The audit covers your finances in detail, and aims to identify savings worth at least 10 times the fee. The firm stands behind this and will return your fee if your audit doesn’t uncover that amount of savings.
The audit will give you methods for improving your tax efficiencies, reducing your investment expenses, increasing your investment performance and creating an effective estate strategy. Socius advisors will walk you through the audit and explain what they found. If your finances are in order, you can expect a refund. If not, the firm will give you possible solutions and strategies.
Las Olas Capital Advisors
This fee-based advisory firm has no set account minimum. However, the majority of its clients are high-net-worth individuals, with only six non-high-net worth individual clients; the firm also works with a few corporations. Among Las Olas's five advisors, there are no certified financial planners (CFPs), chartered financial analysts (CFAs) or certified public accountants (CPAs), although one advisor has passed all three levels of the CFA program and just needs the required work experience.
Las Olas Capital Advisors Background
Las Olas Capital Advisors was founded in 2015, and it’s owned by TCH II, LLC and Doris Investments, LLC, which is in turn owned by Paul Tanner, Jodi Jeffreys and the Sembler Family Trust.
The firm offers portfolio management services, 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 investment decisions. Fundamental analysis is the attempt to evaluate the intrinsic value of a company or stock using financial and economic information.
The firm will seek to obtain information about each individual client’s investment objectives, time horizon and risk tolerance. Then, the firm will tailor its investment strategy to best suit those factors.
Personal Portfolio Management, Inc.
Personal Portfolio Management is the oldest firm on this list, having been founded in 1985. Personal Portfolio Management has just one advisor - the founder, Donald Campagna.
The firm has roughly $150 million in assets under management. The firm offers financial planning and portfolio management services to its clients and doesn't impose an account minimum. The firm's clients consist of fewer than 20 individuals and high-net-worth individuals.
Personal Portfolio Management Background
Personal Portfolio Management was founded by Donald Campagna in 1985. Campagna continues to serve as the president of the firm and as the sole advisor. He has been a certified financial planner (CFP) since 1987. Campagna was also CPA from 1980 to 2014, when he voluntarily relinquished his license.
Personal Portfolio Management Investment Philosophy
Advisors at Personal Portfolio Management use fundamental and technical analysis when evaluating securities as potential investments. Overall, the focus is to manage portfolios to maintain and increase client net worth above inflation and taxes. When building your portfolio, the firm will use your objectives, time horizon, risk tolerance, cash flow needs and financial information to guide investments and allocations. Like many firms, it uses globally diversified investment portfolios as the general approach. Your portfolio will primarily consist of mutual funds and ETFs, rather than individual stocks, bonds and other securities.
Global Wealth Management Investment Advisory, Inc.
Founded in 2017, Global Wealth Management is the youngest firm on the list. The firm has seven advisors and just under $149 million in assets under management.
Similar to Personal Portfolio Management, Global Wealth Management doesn't impose an account minimum. The firm offers financial planning, asset management, trust services and risk management. The firm also has additional 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 five other advisors.
Global Wealth Management Investment Philosophy
Global Wealth Management relies on a mix of long-term purchasing, short-term purchasing and frequent trading strategies. The firm employs the strategy that it determines makes the most sense for each client's risk tolerance, time horizon and investment objectives. When analyzing securities, the firm takes advantage of several methods of analysis, including charting analysis, fundamental analysis, technical analysis and cyclical analysis.