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||Frontier Wealth Management, LLC Find an Advisor||$2,052,855,359||$250,000|| || |
|2||Sterneck Capital Management, LLC Find an Advisor||$380,636,637||No set account minimum|| || |
Minimum AssetsNo set account minimum
|3||The Planned Approach, Inc. Find an Advisor||$203,206,425|| |
| || |
Let us help match you with the right financial advisor for your needs.Answer a few questions to get a personalized match.
|4||Mader & Shannon Wealth Management, Inc. Find an Advisor||$174,664,948|| |
No set account minimum
| || |
No set account minimum
|5||Nicholson Capital Management Find an Advisor||$128,898,823||$400,000 for investment management services|| || |
Minimum Assets$400,000 for investment management services
|6||American Century Investments Find an Advisor||$6,080,540||$100,000 household assets|| || |
Minimum Assets$100,000 household assets
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.
Frontier Wealth Management, LLC
Frontier Wealth Management, LLC, has more than $2 billion under its control, bringing this independent firm to the top of 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 also may be offered insurance products when working with Frontier. Some of its employees are also registered with Purshe Kaplan Sterling. They may receive commissions by recommending products from this business. These arrangements may create conflicts of interest.
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 more than a decade. 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.
Sterneck Capital Management, LLC
Sterneck Capital Management, LLC does not have a set account minimum. The firm primarily works with individuals, though a small fraction of its clients are high-net-worth individuals.
However, the firm currently has no CFPs on staff.
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. 529 college savings plans 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 a team that 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 related 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 one of the oldest firms on this list. 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 primarily serves 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.
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, 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.
Nicholson Capital Management
According to recent SEC filings, Nicholson Capital Management, Inc. (NCM) has only two advisors who provide investment advisory functions and a total of five employees. However, the firm has accumulated more than $120 billion in assets under management.
It provides wealth management and consulting services to individuals as well as trusts, estates and corporations. Most of its individual clients fall outside the scope of high-net-worth. This means the average NCM client has a net worth of less than $1 million. So if that fits your profile, this may be the right firm for you. In fact, you’d generally need a minimum account size of $400,000 to recieve investment advisory services.
For asset-management services, the firm charges annual asset-based fees that currently range from 0.24% to 1.05% depending on the size of your account.
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. This business model may reduce potential conflicts of interest as the firm does not stand to gain from recommending one investment against another.
Nicholson Capital Management Background
NCM can trace its history back to 1988, making it one of the longest-running firms on our list. Today, the firm’s sole owner Jennifer D. Nicholson also serves as its president and chief compliance officer.
It provides a range of wealth planning services including 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 (ETF)s 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."
American Personal Financial Solutions
American Century Private Solutions formed in 2017, making it the youngest advisory program on our list. The firm, which is a division of American Century Investments, offers an advisory solution called Private Client Group Services. This program features the following.
- Ongoing discretionary investment management
- Portfolio monitoring and rebalancing
- Access to specific mutual funds and ETFs including American Century Investment proprietary products
- Tax loss harvesting
- Financial planning
- American Personal Financial Solutions Background
American Personal Financial Solutions emerged as an SEC-registered advisory firm in 2017. It is a wholly-owned subsidiary of American Century Companies. Michael S. Schoonmaker serves as vice president of Personal Financial Solutions. According to the firm’s recent filings with the SEC, the American Century Private Client group houses 26 investment advisor representatives.
The firm’s parent company American Century Investments is a large asset manager based in Kansas City. It has more than 5,000 employees.
American Century Personal Financial Solutions Investment Background
Investment advisors with American Personal Financial Solutions devise strategies based on a client’s personal and financial information including risk tolerance. Assets of those with shorter time horizons are generally invested in more conservative securities.
The American Century Strategies method encomosses three broad asset classes: stocks, bonds and cash. It also utilizes 24 sub-asset classes. The firm generally focuses on long-term asset allocation and deploys several analysis basis including modern portfolio theory to “measure and evaluate the risk of an investment or group of investments against an expected return.” The firm says it “aims to maximize the return within each risk level of the American Century Strategies.”