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 get matched with financial advisor near you.
|Rank||Financial Advisor||Assets Managed||Minimum Assets||Financial Services||More Information|
|1||Prairie Capital Management, LLC Find an Advisor||$4,633,234,700|| |
Varies based on account type
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Varies based on account type
|2||Frontier Wealth Management, LLC Find an Advisor||$1,695,151,100|| |
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|3||Tower Wealth Managers Find an Advisor||$1,399,920,000|| |
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|4||Sterneck Capital Management, LLC Find an Advisor||$339,988,600|| |
No set account minimum
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No set account minimum
|5||The Planned Approach, Inc. Find an Advisor||$175,164,400|| |
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|6||Mader & Shannon Wealth Management, Inc. Find an Advisor||$160,038,600|| |
No set account minimum
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No set account minimum
How We Found the Top Financial Advisor Firms in Kansas City
SmartAsset considered all U.S. Securities and Exchange Commission (SEC)-registered firms in Kansas City, Missouri for this list. Because all SEC-registered firms are fiduciaries, these firms are required by law to put their clients’ best interests before their own. From that list of SEC-registered firms, SmartAsset eliminated any firms that had disciplinary issues on record, did not manage individual accounts or did not have financial planners on staff. The remaining firms were then sorted from the most assets under management (AUM) to the least. The top firms on that list appear here.
Prairie Capital Management, LLC
With more than $4.5 billion in assets under management (AUM), Prairie Capital Management, LLC manages nearly three times as much money as the second-ranking firm, Frontier Wealth Management, LLC.
Prairie Capital Management’s account minimums vary by account type. More than half of the firm’s clients are high-net-worth individuals.
Prairie Capital Management is a fee-only firm. It’s one of three firms on this list that charges performance-based fees.
Prairie Capital Management, LLC Background
Prairie Capital Management, LLC was formed in 2010 by managing director Brian Kaufman. The firm’s team averages 20 years of experience in personal finance.
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, LLC Strategy
Prairie Capital Management, LLC 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.
Frontier Wealth Management, LLC
Frontier Wealth Management, LLC has over $1 billion under its control, placing this fee-based, independent firm second on SmartAsset’s list of Kansas City’s top firms. Frontier Wealth Management’s team includes two certified financial planners (CFPs), a chartered life underwriter (CLU), a chartered financial consultant (ChFC) and a certified divorce financial analyst (CDFA).
To open an account with Frontier Wealth Management, you’ll need at least $250,000. The firm primarily serves individuals, as opposed to high-net-worth individuals.
Notably, Frontier is one of three firms on this list that charges performance-based fees. Clients may be offered insurance when working with this fee-based firm. However, Frontier’s advisors are fiduciaries, meaning they must always act in your best interest.
Frontier Wealth Management, LLC Background
Frontier Wealth Management, LLC has been in business for 11 years. The firm is currently run by CEO Nick Blasi and CFO Brandon Sifers. On average, advisors at this firm have more than 20 years of experience in the financial industry.
For individuals and businesses alike, Frontier Wealth Management offers financial planning for retirement funding, estates, trusts and pension and profit-sharing plans.
Frontier Wealth Management, LLC Strategy
Frontier Wealth Management, LLC prioritizes asset allocation when it creates portfolios and it prides itself on diversifying as fully as possible. The firm uses your time horizon to determine exactly what level of diversification is necessary.
Depending on your timeline, Frontier may use both long-term and short-term ideologies. However, the firm believes that long-term securities are the best option in most cases.
Tower Wealth Managers
Tower Wealth Managers’ eight advisors boast the most certifications out of any firm on this list. Its team includes six chartered financial analysts (CFAs) and three certified financial planners (CFPs).
This fee-based firm's client base consists of mostly non-high-net-worth individuals. The firm requires a minimum account balance of $200,000.
Tower Wealth Managers is also the only firm on this list that charges solely a percentage of your AUM as your advisory fees. For context, every other firm on this list charges fixed fees in addition to a percentage of your assets under management, and many also charge hourly fees and/or performance-based fees on top of that.
Tower Wealth Managers Background
Tower Wealth Managers was established in 2007. It’s a subsidiary of Country Club Trust Company. Chuck Maggiorotto, the firm’s president and CEO, has over 30 years of experience in finance. The rest of the firm’s advisors average around 20 years’ experience.
Tower Wealth Managers claims it can manage nearly any type of account. However, it typically handles IRAs, SEP-IRAs, revocable, irrevocable and special needs trusts, conservatorships and solo 401(k)s. The firm also serves business owners, aiding in the building and management of their investment portfolios.
Tower Wealth Managers Strategy
Through the assembly of globally diversified portfolios, Tower Wealth Managers aims to lower risk and market volatility as much as possible. At this firm, risk tolerance largely dictates how your assets will be invested. In addition, Tower Wealth Managers also takes into account your time horizon and financial goals.
The firm typically invests its clients’ assets in individual equities, bonds, exchange-traded funds (ETFs) and mutual funds.
Sterneck Capital Management, LLC
Sterneck Capital Management, LLC does not have a set account minimum. The fee-only firm primarily works with individuals, though a quarter of its clients are high-net-worth individuals.
The advisory staff of seven at this firm includes one certified financial planner (CFP).
Sterneck Capital Management, LLC Background
Sterneck Capital Management, LLC has been in business far longer than any other firm on this list. The firm was started in 1989 by Frank Sterneck. The staff at Sterneck averages nearly 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 and 529s and Coverdell Education Savings Accounts.
Sterneck Capital Management, LLC Strategy
Sterneck Capital Management, LLC typically invests its clients’ assets in stocks, mutual funds, ETFs, master limited partnerships, 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.”
The Planned Approach, Inc.
The Planned Approach, Inc. has an all-female advisory team. The three-person team includes two certified financial planners (CFPs).
This firm has quite a high account minimum compared to other firms on this list. To be a client of this fee-based firm, you’ll need at least $1 million. Therefore, it’s no surprise that this firm’s client base is almost entirely comprised of high-net-worth individuals.
Certain advisors here may act as insurance agents, and they may earn commissions or other compensation for selling products. The Planned Approach is bound by fiduciary duty though, so the law requires it to act in your best interest at all times.
The Planned Approach, Inc. Background
Founders Stephanie Guerin and Kelly Hokanson formed The Planned Approach in 2002, which makes it the second-oldest firm on this list, behind Sterneck Capital Management. Guerin and Hokanson own the firm along with Staci Peterson, who joined The Planned Approach in 2010.
The Planned Approach offers retirement planning, estate planning, charitable planning, tax minimization, real estate management and insurance advice.
The Planned Approach, Inc. Strategy
The Planned Approach’s investment process begins with a thorough evaluation of your current financial situation and your goals. The firm’s advisors believe “money is like soap - the more it is touched, the smaller it gets.” Thus, The Planned Approach makes investments that it intends to hold for at least a year. This focus on investing for the long-term is designed to make your portfolio perform as consistently as possible.
Typically, The Planned Approach invests its clients’ assets in ETFs, mutual funds, cash and bonds. Its advisors also delve into alternative investments, like oil and gas, land, banking, real estate and personally held business options.
Portfolio rebalancing is another key piece of this firm’s strategy, as it ensures the firm’s plan stays in effect.
Mader & Shannon Wealth Management, Inc.
For a smaller firm, Mader & Shannon Wealth Management, Inc.’s advisors hold an impressive array of certifications. The firm has a certified financial planner (CFP), a certified public accountant (CPA), a chartered life underwriter (CLU), a chartered financial consultant (ChFC) and a chartered alternative investment analyst (CAIA) on staff.
Mader & Shannon does not require a minimum amount of assets to open an account. It serves equal parts individuals and high-net-worth individuals.
This is a fee-based firm. 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, Inc. Background
Mader & Shannon Wealth Management, Inc. was founded in 2005 by James Mader and George Shannon. Today, the firm is run by its principal owners, James Mader, Bret Guillaume and Robert McQuain. While the firm’s founding duo has an average of 43 years’ experience in personal finance, the rest of the firm averages just eight years in the industry.
Mader & Shannon offers a wide range of services. Its offerings include complete portfolio analysis, financial planning, retirement cash flow planning, pension plans, 529/education IRAs and 401(k) plans for businesses.
Mader & Shannon Wealth Management, Inc. Strategy
Mader & Shannon Wealth Management, Inc. 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.