Finding a Top Financial Advisor Firm in Jackson, Mississippi
It can be challenging to find the right financial advisor because there are so many competing for your business. That’s why SmartAsset put in the work to help you find the top financial firms in Jackson, Mississippi. This list of the top Jackson financial advisor firms comes from hours of research into the city’s firms. We lay out our findings below and explain what differentiates these firms from each other. If you would like more guidance in your search, SmartAsset’s financial advisor matching tool can pair you with a financial advisor near you.
|Rank||Financial Advisor||Assets Managed||Minimum Assets||Financial Services||More Information|
|1||Ballew Wealth Management Find an Advisor||$571,232,470||$100,000|| || |
|2||Wealthview Capital, LLC Find an Advisor||$170,768,681||No set account minimum|| || |
Minimum AssetsNo set account minimum
|3||EFP Advisors Find an Advisor||$169,837,559||No set account minimum|| || |
Minimum AssetsNo set account minimum
How We Found the Top Financial Advisor Firms in Jackson, Mississippi
To create this list of top financial firms, SmartAsset considered all firms in Jackson that are registered with the U.S. Securities and Exchange Commission (SEC). We specifically looked at SEC-registered firms, because they have a fiduciary duty to put their clients’ best interests ahead of their own. From there, we eliminated any firms with disciplinary issues. Only firms with a clean record made it onto our final list for consideration. We also eliminated firms that did not manage individual accounts or did not have financial planners on staff. The remaining firms were sorted according to assets under management (AUM), from highest AUM to lowest.
Ballew Wealth Management
Topping our list of the best financial advisory firms in Jackson, Mississippi, is Ballew Wealth Management, which holds more than $571 million in assets under management (AUM). The firm offers portfolio management and financial planning services to individuals, corporations and charitable organizations. Most of its clients, however, are individuals who fall outside the scope of high-net-worth. This means the average client of Ballew has a net-worth of less than $1 million. So it may be the right firm for individuals who are just embarking on their journey to build wealth.
To open an account and receive investment advisory services with Ballew, you’d generally need a minimum initial investment of $100,000.
The firm’s founder Matt Ballew still works as an advisor for the company and holds Series 7, 8, 24, 53 and 63 licenses. The firm employs eight members including two certified financial planners (CFPs), one certified public accountant (CPA), one chartered financial consultant (ChFC) and one chartered life underwriter (CLU).
Ballew Wealth Management Background
Matt Ballew founded the firm in 1991, making it one of the longest-running firms on our list. Today, Ballew serves as chairman of the board.
Ballew along with other members of the firm are also representatives of the affiliate Ballew Investments, a broker-dealer. This arrangement may create a potential conflict of interest as these advisors can receive commissions and other forms of compensation by recommending certain investments. However, the firm states that “Ballew Advisors and these individuals endeavor at all times to put the interest of the clients first as part of our fiduciary duty.”
Ballew Wealth Management Investment Strategy
Ballew constructs portfolios for its clients based on an asset allocation that adheres to their risk tolerance and investment objectives. It also considers other factors like tax implications. Your portfolio may invest in some or all of the following:
- Mutual funds
- Exchange-traded funds (ETFs)
- Fixed-income securities
- Exchange-listed securities
- Certificates of deposit (CDs).
But unlike several firms, Ballew permits clients to make certain restrictions on investing in specific types of securities or industry sectors. In addition, the firm engages in both long-term purchases and short-term purchasing strategies. The former involves holding onto securities for a year or longer when the firm believes these are currently undervalued. With short-term purchases, Ballew buys securities with the intent to sell within a year to take advantage of projected price swings.
Wealthview Capital, LLC
Like EFP Advisors, Wealthview Capital, LLC is a fee-only advisor, which means it does not receive any commissions like fee-based firms may. It is also a small firm with three investment advisors, according to recent filings with the SEC.
However, the firm's employees hold some notable designations. Founder Sam Taylor is a certified investment management analyst (CIMA), an accredited investment fiduciary (AIF) and a chartered retirement planning counselor (CRPC). In addition, the firm also employs two other CFPs.
Wealthview Capital has more than $170 million in assets under management (AUM). It does not have a set account minimum, nor does it charge a minimum annual fee. Account management fees are assessed at marginal rates and based on assets under management. These annual fees range from 0.25% to 1.00% depending on the size of your account.
More than three-quarters of Wealthview Capital clients are high-net-worth individuals. Those are not the only clients that the firm serves, however. It also works with non-high-net-worth individuals, businesses, trusts and foundations.
Wealthview Capital, LLC Background
Samuel J. Taylor founded Wealthview Capital in 2009 and remains the principal owner. He opened the firm with the goal of starting a “high-touch, low-cost alternative for professional wealth management.”
Wealthview Capital takes a holistic approach when managing portfolios. It believes investment decisions are about more than just looking at the numbers. It considers a client’s individual goals, risk tolerance and values. So if you're saving for retirement or you're investing to set the next generation up for success, Wealthview Capital aims to help you achieve all of those goals.
The firm offers a number of financial planning services including education planning, retirement planning, insurance planning and legacy planning. These are all in addition to investment and portfolio management services.
Wealthview Capital, LLC Investing Strategy
Wealthview Capital’s investing goals are to create diverse, low-cost and tax-efficient portfolios for clients. In line with that goal, the firm adheres to the efficient market theory. This theory states that it is not possible to “beat” the market. Instead, investors should take a more passive approach.
EFP Advisors is a fee-only advisor with more than $169 million in assets under management (AUM). As a fee-only firm, advisors only receive compensation from management fees. They do not receive any commissions, referral fees or other forms of compensation.
EFP Advisors is a relatively small firm with four investment advisors on staff. One advisor is a certified financial planner (CFP) and another is both a CFP and a certified public accountant (CPA).
There is no required minimum for opening an account with EFP Advisors, but clients with lower account balances will pay higher management fees. The firm charges its management fee at marginal rates, so clients with less than $250,000 under management will pay a fee of 1.95% of their AUM. In addition, clients with assets between $250,001 and $500,000 will pay a fee of 1.75%, and clients with $5,000,001 or more under management would face a fee of 0.50%.
The firm serves mostly high-net-worth individuals but it may also serve non-high-net-worth individuals, businesses, pension and profit-sharing plans, trusts, estates and charitable organizations.
EFP Advisors Background
EFP Advisors was founded in 2012 by Douglas McDaniel and Christopher Register. They are still the principal owners, with McDaniel serving as president and Register serving as vice president. The firm may also does business under the names McDaniel & Register Inc., R. Lenoir & Associates, W. O. Stone Advisors and Collaborative Advice.
EFP Advisors offers clients general financial planning services in addition to portfolio management services. Portfolio management also includes assistance with creating and maintaining a portfolio for a 401(k) plan.
EFP Advisors Investing Strategy
According to EFP Advisors, minimizing risk is a priority for all client portfolios. The firm does this by using a globally diverse asset allocation. The firm invests in mutual funds and exchange-traded funds (ETFs) in addition to individual securities.
Notably, the firm says it will sometimes adjust a client’s asset allocation to capitalize on “fat-pitch” opportunities. The firm defines a “fat-pitch” opportunity as a case where it finds “one asset undervalued relative to competing asset classes.”