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 six Jacksonville financial advisor firms through hours of research. The tables and reviews below will give you a snapshot of each firm, how much it charges clients and the minimum needed to open an account. SmartAsset also offers an advanced financial advisor matching tool that can pair you with an advisor depending on your needs.
| Rank | Financial Advisor | Assets Managed | Minimum Assets | Financial Services | More Information |
|---|---|---|---|---|---|
| 1 | Retirement Strategies, Inc.  Find an Advisor | $315,860,400 | Varies based on account type |
| Minimum AssetsVaries based on account type Financial Services
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| 2 | Ullmann Brown Wealth Advisors  Find an Advisor | $296,000,000 | $10,000 |
| Minimum Assets$10,000 Financial Services
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| 3 | Madden Advisory Services, Inc.  Find an Advisor | $287,241,400 | Varies based on account type |
| Minimum AssetsVaries based on account type Financial Services
|
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| 4 | Life Planning Partners, Inc.  Find an Advisor | $146,287,300 | No set account minimum |
| Minimum AssetsNo set account minimum Financial Services
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| 5 | Sanchez Wealth Management Group, LLC  Find an Advisor | $137,723,000 | $100,000 |
| Minimum Assets$100,000 Financial Services
|
| 6 | Riverplace Capital Management, Inc.  Find an Advisor | $110,611,900 | $100,000 |
| Minimum Assets$100,000 Financial Services
|
How We Found the Top Financial Advisor Firms in Jacksonville, Florida
This list solely consists of financial advisor firms in Jacksonville, Florida that are registered with the U.S. Securities and Exchange Commission (SEC), as all SEC-registered firms are fiduciaries. If any of the firms did not manage individual accounts, did not staff financial planners or had disciplinary issues on record with the SEC, they were removed from consideration. The remaining firms are listed below in order of the most assets under management (AUM) to the least.
Retirement Strategies, Inc.
As its name suggests, Retirement Strategies, Inc. is focused on helping its clients save for retirement, and it incorporates insurance review and estate creation into the process. The firm’s staff boasts the most certifications of any firm on this list. There are seven certified financial planners (CFPs), one chartered financial analyst (CFA), one retirement income certified professional (RICP), one investment advisor certified compliance professional (IACCP) and one accredited asset management specialist (AAMS).
The fee-only firm has a variable account minimum ranging from $100,000 to $715,000. More than half of the firm’s clients are individuals, as opposed to high-net-worth individuals.
Retirement Strategies, Inc. Background
Partners Bill Carr and Bill Hart came together in 1994 to establish Retirement Strategies, Inc., the most senior firm on this list. The firm is independently owned by Carr, Hart and Mary Beth Neeley, chief compliance officer. The trio averages 32 years of experience.
Clients of this firm planning for an impending or distant retirement will receive a holistic review of their current financial situation to help them figure out how to accomplish their retirement goals. Depending on a client’s specific needs, the firm’s retirement planning services could consist of a cash flow and personal financial objective review, estate planning, a death and disability needs review and an insurance analysis.
Retirement Strategies, Inc. Investing Strategy
Although one might expect a retirement-focused firm such as this one to completely avoid short-term investments, Retirement Strategies, Inc. isn’t averse to attempting to take advantage of market swings. Short-term investments will stick around in your portfolio for no more than one year, and are not only meant to satisfy any need for liquidity, but also to contribute to your retirement in chunks rather than just in smaller, consistent amounts.
Depending on how close you are to retirement and on your risk tolerance, your portfolio’s long-term investments will be mostly be split between exchange-traded funds (ETFs), exchange-traded notes (ETNs) and mutual funds. The firm believes these investment types will help to decrease volatility in your portfolio.
Ullmann Brown Wealth Advisors
With a minimum account balance of $10,000, Ullmann Brown Wealth Advisors has the lowest set account minimum of any firm on this list. However, the firm still serves more high-net-worth individuals than non-high-net-worth individuals.
As a client of this fee-based financial advisor firm, you may be offered insurance with your advisory account. Though advisors may earn commissions from sales, the firm is a fiduciary and therefore must act in your best interest at all times.
In terms of certifications, the firm has three certified divorce financial analysts (CDFAs), as well as one certified financial planner (CFP) on staff. No other firm on this list has a CDFA on staff.
Ullmann Brown Wealth Advisors Background
Wealth advisors and partners Glenn Ullmann and Deanna Brown founded Ullmann Brown Wealth Advisors in 2002. The advisory team at this firm has worked an average of 20 years in the financial services industry.
The majority of the services this firm offers are meant to help clients and their families achieve financial independence. The firm offers investment management, wealth transfer planning, wealth enhancement, tax mitigation, charitable giving and insurance analysis.
Ullmann Brown Wealth Advisors Client Experience
During the first three weeks of your relationship with Ullmann Brown Wealth Advisors, you’ll go through what the firm calls “the focal point interview.” During this time, you’ll make clear your risk tolerance, liquidity needs and any personal preferences. This is followed by a roughly five-week period that consists of a presentation of your investment plan based on the aforementioned factors, and then a mutual acceptance of the plan.
Your plan will then be implemented over the next four months, potentially with the help of insurance professionals, bankers and those well-versed in estate planning. After your plan is in place, Ullmann Brown Wealth Advisors will rebalance and adjust as needed so your portfolio stays on track.
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. More than three-quarters of the firm’s clients are non-high-net-worth individuals.
The firm’s small, three-person advisory group has a total of four certifications, including three certified financial planners (CFPs) and one chartered financial analyst (CFA).
Madden Advisory Services, Inc. Background
CEO Harry Madden founded Madden Advisory Services, Inc. in 1998. The firm is independently owned, and its advisors average 23 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
As an added bonus, 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, Inc. Investment Options
Madden Advisory Services, Inc. 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. But formulating your portfolio is only half of the equation, as your advisor will also keep a consistent eye on 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.
Life Planning Partners, Inc.
Many 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 inclusive approach. The firm typically works with individuals (both high-net-worth and not), charitable organizations, estates, trusts and pension/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, Inc. Background
Carolyn McClanahan created Life Planning Partners, Inc. in 2004. But the firm’s advisory group, besides McClanahan, has been in the field for far longer than that, boasting a combined 56 years of experience.
Life Planning Partners, Inc. 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, Inc. Investing Strategy
Life Planning Partners, Inc. says it uses current academic studies, empirical data and pure common sense to make investment decisions. You 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 could detract from your returns.
Sanchez Wealth Management Group, LLC
Sanchez Wealth Management Group, LLC is tied with Riverplace Capital Management, Inc. (the No. 6 firm) for the the highest account minimum on this list. To open an account, you’ll need at least $100,000. However, this minimum still falls far below the threshold that the SEC defines as high net worth. More than 75% percent of the Sanchez Wealth Management Group’s clients are non-high-net-worth individuals.
The two-person advisory team at this fee-based firm holds three advanced certifications. There is a certified financial planner (CFP), an accredited investment fiduciary (AIF) and a certified fund specialist (CFS).
The firm’s advisors may earn commissions from selling certain insurance policies and for trading certain securities. But rest assured, the firm is a fiduciary, and it therefore must act in your best interest at all times.
Founder 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, LLC Background
Sanchez Wealth Management Group, LLC has been around since just 2013. It is independently owned by Chris Sanchez, who has been involved in the financial world since 1996.
This firm offers advising and consulting services and focuses primarily on wealth management and financial planning. More specifically, you can get help planning for retirement, insurance, taxes and estates.
Sanchez Wealth Management Group, LLC 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 believes that the financial education of its clients will only help the investing process, so it makes that a priority, as well.
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 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. That account minimum, also required by Sanchez Wealth Management Group (No. 5), is the highest on this list. Riverplace Capital Management’s typical clients include individuals, banks, trusts, estates, businesses, charitable organizations, investment companies and pension/profit-sharing plans.
Clients will find one certified financial manager (CFM) at this firm.
Riverplace Capital Management, Inc. Background
President and CEO Peter Bower founded Riverplace Capital Management, Inc. in 1998. He remains the primary owner of the company. No one on this firm’s team has spent less 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, Inc. Investing Strategy
Riverplace Capital Management, Inc. bases most of its investment decisions off of dynamic asset allocations. 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. Even if any new investments have yet to be spotted by its advisors or technologies, 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.
