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 connect you with up to three financial advisors near you.
|Rank||Financial Advisor||Assets Managed||Minimum Assets||Financial Services||More Information|
|1||Ballew Advisors Inc Find an Advisor||$ 743,302,848||$100,000|| || |
|2||Mag Cap Find an Advisor||$ 325,608,357||No set account minimum|| || |
Minimum AssetsNo set account minimum
|3||EFP Advisors Find an Advisor||$ 214,183,540||No set account minimum|| || |
Minimum AssetsNo set account minimum
|4||Wealthview Capital, LLC Find an Advisor||$ 208,589,994||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. We also cut any firms that do not offer financial planning or whose client base isn't at least half individuals (as opposed to institutional investors). The remaining four firms were sorted according to assets under management, starting with the largest. All information is accurate as of the writing of this article.
Ballew Advisors Inc
Topping our list of financial advisory firms in Jackson, Mississippi, is Ballew Advisors Inc, aka Ballew Wealth Management, with more than $743 million in assets under management. The firm offers portfolio management and financial planning services to individuals, corporations and charitable organizations. The vast majority of its clients do not have high net worths.
To open an account and receive investment advisory services, you’ll generally need a minimum initial investment of $100,000. The firm, though, may waive or reduce the amount at its discretion.
The firm’s founder, Matt Ballew, still works as an advisor for the company. He holds an MBA and Series 7, 8, 24, 53 and 63 licenses. The team he leads includes two certified financial planners (CFPs), two chartered retirement plans specialists (CRPSes), one certified public accountant (CPA), one chartered financial consultant (ChFC), one chartered life underwriter (CLU) and one certified senior advisor (CSA). (Advisors may have more than one credential.)
Ballew Advisors 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.” Advisors may also be insurance agents.
Ballew Advisors 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
- Fixed-income securities
- Exchange-listed securities
- Certificates of deposit
But unlike some 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.
With almost $326 million in assets under management (AUM), Mag Cap, or Magnolia Capital Advisors, LLC, joins the list in the second spot this year. With no set account minimum at the firm, its clients are most individuals who do not have high net worths. The firm also works with high-net-worth individuals and pension plans.
At this fee-based firm, some advisors may conduct securities transactions and/or sell insurance products that generate commissions on top of the advisory fees you pay. These non-advisor roles may pose a potential conflict of interest, but as an SEC-registered firm, Mag Cap has a fiduciary duty to act in clients' best interests.
The practice provides investment management, financial planning and consulting services.
Magnolia Capital Advisors Background
Mag Cap was created in 2018, making it the youngest firm on this list. It’s principally owned by its managing directors, Vaiden Clark, Stephen Griner and Charles Marion. Among the three of them, they have eight designations, including for certified public accountant (CPA), certified financial planner (CFP), chartered financial analyst (CFA), accredited investment fiduciary (AIF) and certified investment management analyst (CIMA).
Mag Cap gives clients the choice between a percentage-based fee or a flat fee when it comes to portfolio management services. Percentage-based fees typically won’t exceed 2.00% of your AUM. For financial planning services, there’s no additional charge for clients who already receive portfolio management. Stand-alone financial planning clients will pay a fixed fee between $2,500 and $25,000.
Magnolia Capital Advisors Investment Philosophy
Mag Cap can provide guidance generally on money market funds and other cash instruments, exchange-listed securities, mutual funds, exchange-traded funds, closed-end fund shares, certificates of deposit (CDs), corporate debt securities, municipal securities, government securities, options, variable annuity products, private funds and private placements.
When analyzing potential funds to invest in, the firm looks at both the experience and track record of the fund manager, gauging if the manager has demonstrated an ability to invest over a period of time and in different economic conditions. Another important step is looking at the underlying assets in a fund to see if there is significant overlap in the underlying investments held in other funds in the client's portfolio. This helps to promote in-depth diversification.
EFP Advisors manages more than $214 million in assets. There is no required minimum for opening an account with EFP Advisors, and the vast majority of clients do not have high net worths. The firm also works with high-net-worth individuals, businesses, pension and profit-sharing plans, trusts, estates and charitable organizations.
A relatively small firm, the team here includes two certified financial planners (CFPs) and one certified public accountant (CPA). (Advisors may have more than one certification.) Advisors are also brokers and insurance agents who receive transaction-based fees. These non-advisor roles can be confusing, as they do not fall under the regulatory authority of the SEC and are not held to an advisor's fiduciary standard. When receiving any recommendation, clients should be sure they know what it is based on and how their advisor may benefit.
EFP Advisors Background
EFP Advisors was founded in 2012 by Douglas McDaniel and Christopher Register (ergo the name of the firm's website). They are still the principal owners, with McDaniel serving as president and Register serving as vice president. The firm 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, 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.”
Wealthview Capital, LLC
Wealthview Capital, LLC is a fee-only advisor, which means it does not receive any sales commissions or other transaction-based fees. Like EFP Advisors, it is a small firm with three advisors, according to recent filings with the SEC.
Founder Sam Taylor is a certified investment management analyst (CIMA), an accredited investment fiduciary (AIF) and a chartered retirement planning counselor (CRPC). The team includes two more CRPCs, one certified financial planner (CFPs) and one chartered financial analyst (CFA).
Wealthview Capital has nearly $209 million in assets under management. 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.
Roughly one-third of Wealthview Capital clients are high-net-worth individuals. The firm also works with non-high-net-worth individuals, businesses, trusts and foundations.
Wealthview Capital 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 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.