Finding a Top Financial Advisor Firm in Jacksonville, Florida
Finding a financial advisor can be a challenging process, especially in a highly populated area like Jacksonville, Florida. To make it easier, SmartAsset has created the following list of the top nine Jacksonville financial advisor firms. The tables and reviews below will give you a snapshot of each firm, their fee structures and the minimum needed to open an account. To expand your search, 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||Paragon Wealth Strategies Find an Advisor||$467,691,871||Varies based on account type|| || |
Minimum AssetsVaries based on account type
|2||Sanchez Wealth Management Group, LLC Find an Advisor||$268,796,558||$100,000|| || |
|3||Life Planning Partners, Inc. Find an Advisor||$232,751,850||No set account minimum|| || |
Minimum AssetsNo set account minimum
|4||River Capital Advisors, LC Find an Advisor||$230,373,668||$500,000|| || |
|5||Riverplace Capital Management, Inc. Find an Advisor||$163,863,446||$100,000|| || |
|6||TrustWell Financial Advisors, LLC Find an Advisor||$110,743,049||$100,000|| || |
|7||Madden Advisory Services, Inc. Find an Advisor||$159,163,230||Varies based on account type|| || |
Minimum AssetsVaries based on account type
|8||MJP Financial Find an Advisor||$118,770,008||$10,000|| || |
|9||Davis Capital Management Find an Advisor||$128,000,000||$500,000|| || |
How We Found the Top Financial Advisor Firms in Jacksonville, Florida
To find the top financial advisors in Jacksonville, Florida, we first identified all firms registered with the SEC in the city. Next, we filtered out firms that don't offer financial planning services, those that don't serve primarily individual clients and those that have disclosures on their record. The qualifying firms were then ranked according to the following criteria:
Paragon Wealth Strategies
At the top of the list, Paragon Wealth Strategies is a fee-only firm that works with both high-net-worth individuals and non-high-net-worth individuals. According to the firm's latest SEC filing, only institutional clients are corporations.
All advisors at Paragon must obtain the certified financial planner (CFP) designation. The team also has one financial paraplanner qualified professional (FPQP).
Already existing advisory clients at the firm are subject to Paragon minimum account requirements and advisory fees in effect at the time they start an advisory relationship. Therefore, the firm's minimum account requirements will differ across clients.
Paragon Wealth Strategies Background
Paragon was founded in 2008 after previously being a branch office of The Householder Group. The firm's principal shareholders are Jonathan Castle (who serves as the chief investment officer), Michelle Ash (chief operating officer), Karen Rasmussen (VP of client relations) Scott Sinder (partner) and Ian Aguilar (partner).
Services offered at Paragon include portfolio management, wealth management, financial planning and educational workshops.
Paragon Wealth Strategies Investing Strategy
Sanchez Wealth Management Group, LLC
Sanchez Wealth Management Group, LLC has an account minimum of $100,000. The majority of the firm's clients are non-high-net-worth individuals.
The advisory team at this fee-based firm holds three advanced certifications among them. Founder Chris Sanchez and advisor Joshua Mandelkorn are both certified financial planners (CFPs), and Sanchez is also an accredited investment fiduciary (AIF) and a certified fund specialist (CFS).
The firm’s advisors may earn commissions from selling certain insurance products and for trading certain securities. This may present a conflict of interest, but the firm is a fiduciary and must act in clients' best interests.
Chris Sanchez has received numerous distinctions over recent years. These include being named one of the top independent financial advisors in the U.S. by Reuters in 2008 and one of the top 1,000 advisors in America by Barron’s in 2009.
Sanchez Wealth Management Group Background
Sanchez Wealth Management Group was founded in 2010 and has been in business since 2013. It is independently owned by Chris Sanchez, who has been working in the financial sector since 1996.
This firm offers advising and consulting services and focuses primarily on wealth management and financial planning. More specifically, the latter can cover planning for retirement, insurance, taxes and estates.
Sanchez Wealth Management Group Investing Strategy
Sanchez Wealth Management Group uses a proprietary investing strategy that it calls “Advance and Protect.” This strategy focuses on the active management of your assets. However, the firm will only move your investments when it believes the possible return will outweigh the extra risk you’re taking on.
These decisions are clearly communicated with clients as part of the firm’s effort to remain transparent and honest about how it’s managing clients’ assets. This firm also priortizes the financial education of its clients, as it believes that this will only help the investing process.
Life Planning Partners, Inc.
Most firms will charge you advisory fees based on a percentage of your assets under management, but Life Planning Partners, Inc. is not one of them. The firm charges fees based only on hourly and fixed rates.
There are two certified financial planners (CFPs) and one chartered financial analyst (CFA) at this firm. Life Planning Partners has no account minimum, showcasing its relatively inclusive approach. The firm typically works with individuals (both with or without high net worths), charitable organizations, estates, trusts and pension and profit-sharing plans.
President and principal owner Carolyn McClanahan was a doctor prior to opening this fee-only firm. Since entering the financial sector, McClanahan has been recognized for her work as an advisor by The Wall Street Journal and Kiplinger’s, and has appeared on NPR and CNBC.
Life Planning Partners Background
Carolyn McClanahan started Life Planning Partners in 2004. But the firm's team has been in the field for far longer than that, boasting a more than 50 years of collective experience.
Life Planning Partners offers financial planning centered around retirement and other important life events. For example, the firm will create specific plans for clients who are working to achieve financial independence, transitioning to a new job, attempting to diversify their assets or caring for an elderly family member.
Life Planning Partners Investing Strategy
Life Planning Partners says it uses current academic studies, empirical data and pure common sense to make investment decisions. Your advisor will then incorporate risk into the equation, considering both inflation and market risk, which takes into account both the long term and short term.
The firm primarily uses exchange-traded funds (ETFs), mutual funds and bonds in client portfolios. It believes that these investment types are the cheapest and most tax-efficient, which it says will minimize costs that might otherwise dampen your returns.
River Capital Advisors
River Capital Advisors, LC (also known as RCA) has an account minimum of $500,000. The majority of the firm's clients are non-high-net-worth individuals.
Every advisor on the advisory team at this fee-based firm holds a certified financial planner (CFP) certification. The firm's president and founder is also a certified public accountant.
River Capital Advisors Background
River Capital Advisors was founded in 1998. Its principal owner is Smoak, Davis & Nixon, LLP.
This firm offers wealth management services to its clients, including portfolio management and general consulting services. It also offers financial planning.
River Capital Advisors Investing Strategy
RCA uses shares of no-load (or load-waived) mutual funds, ETFs, individual stocks, bonds and CDs for client accounts. The firm may also recommend investing in alternative investments. When selecting individual stocks, the firm emphasizes fundamental analysis. Approaches include long-term purchases, short-term purchases, short sales, margin transactions and options trading/writing.
Riverplace Capital Management, Inc.
Riverplace Capital Management, Inc. is a fee-only firm that only charges advisory fees based on your current assets under management. The firm believes that this fee structure is mutually beneficial to both the firm and its clients, as it states on its website: “When you do well, we do well.”
You’ll need at least $100,000 to open an account with this firm. Riverplace Capital Management’s typical clients include individuals, banks, trusts, estates, businesses, charitable organizations, investment companies and pension and profit-sharing plans.
Clients will find one certified financial manager (CFM) at this firm.
Riverplace Capital Management Background
President and CEO Peter Bower founded Riverplace Capital Management in 1998. He remains the primary owner of the company. No one on this firm’s team has spent fewer than 25 years in finance, giving the firm’s team ample experience.
This firm offers a variety of financial management services, including:
- Financial problem identification
- Retirement planning
- Insurance review
- Tax planning
- Cash flow management
- Investment management
- Education funding
- Estate planning
Riverplace Capital Management Investing Strategy
Riverplace Capital Management primarily uses dynamic asset allocation. The firm is continually building a watch list of the investments it believes are most suitable for its clients. It then actively tries to anticipate where the market is headed, and therefore what investments should be a part of its watch list in the near or distant future. The firm will consistently refresh its current watch list to ensure that stagnation doesn’t settle in.
When deciding how to put together your portfolio, this firm will take this list and implement the investments that it feels are in line with your goals and risk tolerance. In other words, the exact investment types that are utilized will vary depending on your objectives.
TrustWell Financial Advisors
TrustWell Financial Advisors is a fee-only firm that works with both high-net-worth individuals and non-high-net-worth individuals. The firm's clients are primarily individuals, couples, and their family members. It also serves corporations, small businesses, small business owners, foundations, endowments, trusts, guardianships, estates, family offices and other fiduciaries.
All advisors at TrustWell Financial Advisors hold the certified financial planner (CFP) designation.
The firm generally requires a minimum of $100,000 to open an account but reserves the right to waive this minimum.
TrustWell Financial Advisors Background
The firm began operations in 1987 as D. Gary Williams & Company, a sole proprietor. In 2007, it organized our practice as a Florida LLC and transitioned services to that entity in 2008. The firm's owners and controllers are D. Gary Williams, Christopher F. Daunhauer and Brett W. Freese.
The firm offers clients financial planning and asset management services.
TrustWell Financial Advisors Investing Strategy
Madden Advisory Services, Inc.
Madden Advisory Services, Inc.’s minimum varies by account type. The fee-only firm requires a $250,000 minimum for a wealth management account and a significantly lower $5,000 minimum for an asset management account. (Wealth management takes a broader view of your finances than asset management, which is largely limited to your investments.) The majority of the firm’s clients are non-high-net-worth individuals.
The firm’s small team includes staff members who hold professional financial designations such as certified financial planner (CFP) and chartered retirement planning counselor (CRPC).
Madden Advisory Services Background
CEO Harry Madden founded Madden Advisory Services in 1998. The firm is independently owned, and its advisors average more than 20 years of experience in asset management.
The following services are available for the various clients that work with this firm, including individuals, businesses and business owners:
- Retirement planning
- Estate planning
- Asset management
- Small business retirement benefit planning
- Charitable giving planning
- Higher education funding
- Insurance analysis
- Charles Schwab-based S.A.I.L. asset management
CEO Harry Madden runs a weekly financial radio show called “Smart Money” every Saturday morning from 10 a.m. to 12 p.m. The firm’s financial planners, Michelle Baron and Brian Hughes, participate in the show.
Madden Advisory Services Investment Options
Madden Advisory Services offers two different investing programs: The F.O.C.U.S. wealth management program and S.A.I.L. asset management.
The F.O.C.U.S. wealth management program is the more traditional side of this firm’s business. This program uses your stated investment goals and financial needs to formulate a portfolio focused on achieving your long-term objectives. Your advisor will monitor your account and rebalance it as needed.
The firm’s other option is S.A.I.L. asset management, a robo-advisor that’s accessible through an online platform run by Charles Schwab. This program’s portfolios are almost totally centered around the use of exchange-traded funds (ETFs) and index funds, which are chosen based on an online questionnaire you fill out to determine your risk tolerance.
MJP Financial has an account minimum of $10,000. The majority of the firm's clients are non-high-net-worth individuals. The firm also offers services to individuals of high net worth.
The firm's relatively small staff includes one certified financial planner (CFP). Additionally, the firm is fee-based, which means that one or more advisors may earn commissions from selling certain insurance products to clients. This may present a conflict of interest, but the firm is a fiduciary and must act in clients' best interests.
MJP Financial Background
MJP Financial was founded in 2013. The firm's owner and operator is Mario J. Payne, who is the CFP on staff and who also serves as chief compliance officer.
This firm offers investment management and financial planning to its clients.
MJP Financial Investing Strategy
When developing investment strategies for clients, the firm uses fundamental, technical, cyclical, behavioral and charting analysis methods. The firm generally employs a long-term investment strategy, but may buy and sell positions that are more short-term in nature as well.
Davis Capital Management
Davis Capital Management is a fee-only firm that works mainly with individuals, most of whom do not have high net worths. Institutional clients include insurance companies and corporations. The firm also offers services to banks, thrift institutions, trusts, estates, endowments, foundations, other charitable organizations, pensions and profit-sharing plans.
The team at Davis includes two certified financial planners (CFPs) and one chartered financial consultant (ChFC).
Fees at Davis are based on a percentage of assets under management. For clients with at least $100,000 in assets, that includes in depth financial planning services. These are also available for a fixed-fee.
The minimum account size is $500,000.
Davis Capital Management Background
The firm was founded in 2008. Troy Davis is the majority shareholder, with John Murhpy and Ronald Heyman also holding shares.
Services include portfolio management, qualified retirement plan consulting and financial planning.
Davis Capital Management Investing Strategy
The firm's core investment philosophy emphasizes preservation of capital. Investment analysis approaches include fundamental and technical analysis. Advisors interview clients in order to understand specific goals and develop a custom asset allocation that fits client needs. Client account holdings include bonds, equities, mutual funds, exchange-traded funds (ETFs) and alternative investments.