Finding a Top Financial Advisor Firm in Kansas City, Missouri
Finding a financial advisor in your area who fits your needs can be tough. To make it easier, SmartAsset compiled this list of the top financial advisor firms in Kansas City, Missouri. Using our tables and reviews, you can compare and contrast what each firm has to offer. If you’d prefer, SmartAsset’s financial advisor matching tool is another easy way to find financial advisor who serves your area.
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|Rank||Financial Advisor||Assets Managed||Minimum Assets||Financial Services||More Information|
|1||Prairie Capital Management, LLC Find an Advisor||$6,200,239,508||$15,000 minimum annual fee|| || |
Minimum Assets$15,000 minimum annual fee
|2||Sterneck Capital Management, LLC Find an Advisor||$275,773,516||$500,000|| || |
|3||Mader & Shannon Wealth Management Find an Advisor||$235,566,946||No set account minimum|| || |
Minimum AssetsNo set account minimum
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|4||Nicholson Capital Management, Inc. Find an Advisor||$219,362,499||$400,000|| || |
What We Use in Our Methodology
To find the top financial advisors in Kansas City, 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:
- AUMFirms with more total assets under management are ranked higher.
- Individual Client CountFirms who serve more individual clients (as opposed to institutional clients) are ranked higher.
- Clients Per AdvisorFirms with a lower ratio of clients per financial advisor are ranked higher.
- Age of FirmFirms that have been in business longer are ranked higher.
All information is obtained through public records and is updated annually after the firms’ form ADV filing. This list may include firms that have a business relationship with SmartAsset, in which SmartAsset is compensated for lead referrals. Such relationships have no impact on our rankings, and firms are included and ranked based strictly on the above criteria. SmartAsset is not a client of the aforementioned firms, and did not receive compensation for including any of the firms on the aforementioned list.
Prairie Capital Management
Leading off our list is Prairie Capital Management. The firm doesn't use an asset minimum, but rather a $15,000 minimum annual fee for new clients. Most of the firm’s clients are high-net-worth individuals, with the rest being pooled investment vehicles and businesses.
Prairie Capital Management is a fee-only firm, qhich means all of its compensation comes from client-paid fees. This differs from a fee-based firm, which is one that can receive commissions from third-party sales. Besides its Kansas City headquarters, this firm has offices in Chicago and Dallas.
Prairie Capital Management Background
Prairie Capital Management was formed in 2010 by managing directors Brian Kaufman, Curtis Krizek and Rob Schneider. The firm’s team averages about 20 years of experience in personal finance. The firm is owned by UMB Financial Corporation.
Prairie Capital Management offers pension and profit-sharing plans, estate and trust planning and retirement planning. It serves individuals, businesses and charitable organizations.
Prairie Capital Management Investment Strategy
Prairie Capital Management offers both traditional and alternative investment ideologies. If you choose to go the traditional route, your money will be allocated to both active and passive fixed investments and equity investments. Opting for the firm’s alternative investment ideology opens the door for your assets to be invested in private equity and hedge funds, as well.
Aside from investment ideology, your risk tolerance is also a major determinant of how your asset allocations will look. After your portfolio is created, Prairie Capital Management will periodically rebalance your account to ensure it stays aligned with to your original investment plan.
Sterneck Capital Management
Sterneck Capital Management has a $500,000 minimum account size requirement. The firm primarily works with individuals, though a small fraction of its clients are high-net-worth individuals. It also works with retirement plans, charities and businesses.
This is a fee-only firm. As a result, its only form of compensation are the fees that clients pay.
Sterneck Capital Management Background
Sterneck Capital Management has one of the longest histories of any firm on this list. Frank Sterneck started the firm in 1989. Today, the staff at Sterneck averages around 30 years of experience in finance.
The list of account services offered by Sterneck is extensive. The firm provides aid for individual trusts, traditional and Roth IRAs, 401(k) rollovers, foundation and custodial accounts. 529 college savings plans and Coverdell Education Savings Accounts.
Sterneck Capital Management Strategy
Sterneck Capital Management typically invests its client assets in stocks, mutual funds, exchange-traded funds (ETFs), master limited partnerships (MLPs), real estate investment trusts, bonds and mortgage-backed and index-linked notes. To determine where your assets will ultimately be invested, Sternbeck relies on research, technical analysis and industry journals.
Using what is called the “contrarian approach,” Sterneck will attempt to identify securities that it believes are mispriced at the moment. This might cause your money to end up in places that may not immediately appear profitable. However, Sterneck says that it focuses on what it thinks - based on its experience - are “realistic valuations.”
Mader & Shannon Wealth Management
For a smaller firm, Mader & Shannon Wealth Management's advisors hold an impressive array of certifications. The firm has two certified financial planners (CFPs), a chartered life underwriter (CLU), a chartered financial consultant (ChFC), two chartered market technicians (CMTs) and a chartered financial analyst (CFA) on staff.
Mader & Shannon does not require a minimum amount of assets to open an account. It primarily serves non-high-net-worth individuals.
This is a fee-based firm, so be aware that you may encounter insurance offers when working with Mader & Shannon. Any sales may result in extra earnings for the firm’s advisors. However, this firm is a fiduciary, which means it must act in your best interest at all times.
Mader & Shannon Wealth Management Background
Mader & Shannon Wealth Management was founded in 2005 by James Mader and George Shannon. Today, the firm is run by its principal owners, chairman and CEO James Mader and president Bret Guillaume.
Mader & Shannon provides a wide range of services. Its offerings include complete portfolio analysis, financial planning, retirement cash flow planning, as well as advice on pension plans, 529 plans, IRAs and 401(k) plans for businesses.
Mader & Shannon Wealth Management Strategy
Mader & Shannon Wealth Management uses historical and technical charting, financial publications, research materials, annual reports, corporate rating services and more to determine which undervalued investments are worth investing in. Mader & Shannon says it typically invests its clients’ assets in exchange-traded securities that are highly liquid.
Unlike many other firms, Mader & Shannon may make significant changes to your original investment plan. The firm’s advisors make these decisions based off of daily evaluations of what’s going on in the market. The firm uses various accounting platforms to monitor the current and projected performance of investments.
Nicholson Capital Management
According to recent SEC filings, Nicholson Capital Management (NCM) has a small number of advisors who provide investment advisory functions. However, the firm has accumulated millions in assets under management (AUM). It provides wealth management and consulting services to individuals, as well as trusts, estates, government entities and charities. Most of its individual clients falls outside the scope of high-net-worth. You’d generally need a minimum account size of $400,000 to recieve investment advisory services.
Fee-only NCM serves as an independent advisory firm and doesn’t sell any investment products. Nor does it collect compensation from the recommendation of any particular investments.
Nicholson Capital Management Background
NCM can trace its history back to 1988, making it the longest-running firm on our list. Today, the firm’s sole owner Jennifer D. Nicholson, who also serves as its president and chief compliance officer (CCO).
The firm provides a range of wealth planning services, including, but not limited to, portfolio management.
Nicholson Capital Management Investment Strategy
Based on a client’s risk tolerance and financial goals, the firm primarily builds portfolios with stocks, bonds, exchange-traded funds (ETFs) and mutual funds. The firm may also consider specific investments based on a screening process that considers factors like performance, internal fees and manager tenure.
The firm generally makes long-term security purchases, but makes short-term purchases when deemed appropriate. NCM states, "Because some of these investment strategies involve certain additional degrees of risk, they will only be recommended when consistent with the client’s stated tolerance for risk."