Top Financial Advisors in Leawood, KS

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Financial Advisory Service, Inc. (FAS) is one of the largest financial advisor firms in Kansas, making SmartAsset’s list of the top financial advisor firms in the state. FAS has over $1.3 billion in client assets under management (AUM) and 16 financial advisors on staff. This group includes eight certified financial planners (CFPs), one chartered financial analyst (CFA), one certified public accountant and one certified fund specialist (CFS).

More than 90% of FAS’ client base is comprised of individuals and individuals with a high net worth. Outside of these groups, the firm works with a select few businesses, trusts, estates and charitable organizations. To become a client of the firm, you’ll need at least $500,000 in investable assets.

As a fee-based firm, some of the advisors at FAS can earn commissions from the sale of insurance products. Although this represents a possible conflict of interest (as advisors are incentivized to steer clients toward these products), the firm is a fiduciary, and therefore must act in clients’ best interests.

Financial Advisory Service, Inc. Background

Founded in 1979 Financial Advisory Service is the oldest firm on our list. It was founded by the firm’s current CEO, Max Greer, Jr., who has been in the financial services industry for over 40 years.

FAS offers both financial planning and investment management services. More specifically, these include goal-based investing, retirement planning, income tax planning, insurance planning, estate planning, education fund planning and more.

Financial Advisory Service, Inc. Investing Strategy

Rather than use a single investing strategy for all clients, Financial Advisory Service looks to match your needs with an appropriate investment portfolio. To do this, you and your advisor will go over a number of important factors, such as your risk tolerance, time horizon and liquidity needs. If applicable, the firm may use your family composition and background to help create a more robust plan. Depending on the results of these conversations, FAS will pair you with a risk-adjusted asset allocation for your portfolio.

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The Retirement Planning Group, Inc. (RPG) is unique in that it essentially only works with individual investors, eschewing institutional investors such as pension plans. While the firm can handle the needs of high-net-worth individuals, the vast majority of its client base consists of individuals beneath that threshold. It even has services developed specifically for business owners and executives. There are also no minimum investment requirements here.

There are seven financial advisors working at this firm, with four certified financial planners (CFPs) and one chartered financial analyst (CFA) between them. RPG has just under $800 million in assets under management (AUM), and is one of SmartAsset’s top firms in Kansas.

Certain members of the advisory team at this fee-based firm can sell insurance products for a commission or extra compensation. Even still, the firm is legally bound by fiduciary duty, so it will always give advice that is in your best interests.

The Retirement Planning Group, Inc. Background

Co-founders Chris Costello and Kevin Conard opened The Retirement Planning Group in 2004, tying it for the youngest firm on this list. Today, the firm is under the principal ownership of Costello, Conard, firm president Ryan Costello, chief compliance officer (CCO) Rob O'Blennis and senior VP of wealth management Dwight Twillman.

As the firm’s name indicates, RPG’s primary service is its comprehensive retirement planning. However, the firm hasn’t been shy about expanding beyond this, as it also offers investment management, medicare planning, tax management and planning, cash management, charitable trust planning, estate planning and much more.

The Retirement Planning Group, Inc. Investing Strategy

In an effort to build safe, retirement-minded portfolios, The Retirement Planning Group chiefly utilizes mutual funds and exchange-traded funds (ETFs) when fleshing out its investment decisions. The firm does its own proprietary analysis and research to determine which securities are best suited for your needs.

The goal of RPG is create a well-diversified asset allocation that uses many different areas of the investment market. To do this effectively, the firm will work with you to develop a sense for your risk tolerance. While the firm occasionally uses active investment principles, it tends to focus on passive investing.

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Sunrise Advisors, Inc. is also among SmartAsset’s top 10 financial advisor firms in Kansas. The firm employs four financial advisors that take care of $620.8 million in client assets under management (AUM). Sunrise boasts some unique advisory certifications, like two certified financial planners (CFPs), one chartered retirement planning counselor (CRPC), one certified business valuation specialist (CBVS) and one accredited asset management specialist (AAMS).

This fee-only firm has no minimum investment needed to become a client. The vast majority of its clientele are individuals, both with and without a high net worth. Sunrise also maintains advisory relationships with families, trusts, estates, businesses, associations, retirement plans and foundations.

Sunrise Advisors, Inc. Background

Sunrise Advisors is an independent, family-owned firm that’s been in business since 1993. David Scott founded the firm and remains its chairman and chief investment officer (CIO) to this day. Scott has been employed in the financial industry since 1975.

Your needs will dictate the type of services you’ll receive at Sunrise. Its core services are investment management, financial planning, holistic family office and company retirement plan management.

Sunrise Advisors, Inc. Investing Strategy

Sunrise Advisors’ investment philosophy is based around the “core and satellite” approach. This conservative style of investing looks to balance client portfolios between cash, bonds, stocks, mutual funds and ETFs.

The “core” portion of your portfolio will be a collection of diversified global securities that are strategically chosen based on your investor profile. On the other hand, the “satellite” section is devoted to mitigating risk and taking advantage of any current widespread trends in the market.

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Like three other firms on this list, Mitchell Capital Management, Co. (MCM) has no minimum investment requirements for new clients. More than 90% of the clients at this fee-only firm are individuals (both high-net-worth and not). The firm also currently works with banks, pension and profit-sharing plans, charitable organizations, investment advisors, insurance companies, businesses and trusts.

The seven-person advisory team at Mitchell Capital includes four chartered financial analysts (CFAs) and one certified financial planner (CFP). This group collectively manages $520 million in client assets.

Mitchell Capital Management, Co. Background

Fred Mitchell founded Mitchell Capital Management in 1987, though he is no longer with the firm. Today, it is employee-owned by principals Ken Green and Jonn Wullschleger, VP Rich Jones, CCO Barbara Roszel, relationship manager Janet Rowe and portfolio managers Phil Kernen, Christen Dusselier and Brandon Reed.

Mitchell Capital Management primarily offers investment management and financial planning services. Here’s a breakdown of what MCM can do:

• Investment planning and analysis
• Retirement planning
• Education savings planning
• Debt management
• Tax planning
• Life event planning

Mitchell also provides sub-advisory services for financial consultants and banks.

Mitchell Capital Management, Co. Investing Strategy

Prior to making any final investment decisions, Mitchell Capital Management will go over your personal investment objectives, risk tolerance and time horizon. Once this review is complete, you’ll be paired with one of the firm’s investment strategies. Here’s an overview of each of them:

• Stock strategies
  • All-Cap Equity Growth - This focuses on long-term gains by choosing stocks with strong growth potential.
  • All-Cap Equity Value - This looks to invest in stocks that the firm believes are largely undervalued by the market.
  • All-Cap Equity International - This is based around high quality, non-U.S. stocks that are traded on U.S. exchanges.
  • Strategic Allocation - This is centered around stock ETFs that are inherently diversified.
• Bond strategies - The only difference between MCM’s two bond strategies is that one solely utilizes taxable bonds and the other sticks to tax-exempt bonds.

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Fee-only Wealth Management Advisors, Inc. (WMA) is based in the south side of Leawood. The firm has $466 million in client assets under management (AUM), as well as five financial advisors on staff. In the firm’s office, you’ll find three certified financial planners (CFPs), two chartered financial analysts (CFAs), one certified public accountant (CPA), one personal financial specialist (PFS) and one certified divorce financial analyst (CDFA).

According to its Form ADV, this firm works with only individuals and high-net-worth individuals. There is no minimum to become a client of Wealth Management Advisors.

Note that WMA offers a free in-person financial review to see if its services are right for you.

Wealth Management Advisors, Inc. Background

Wealth Management Advisors was founded by Kevin McGrew in 1993, and he is still the firm’s principal owner. McGrew lives in the Leawood area and has been working in financial services since 1987.

This firm’s services are based on four areas of focus: “Financial Foundation,” “Pre-Retirement,” “Retirement” and “Legacy.” Depending on where you are in life, the firm will cater its services to help you reach your individual goals.

Wealth Management Advisors, Inc. Investing Strategy

The investing strategy of Wealth Management Advisors falls in line with core tenets of modern portfolio theory, or MPT. This Nobel-winning economic theory focuses on maximizing returns within a given spectrum of risk tolerance.

To implement MPT effectively, WMA builds globally diversified portfolios. Beyond this, your advisor will look to minimize taxes and transactional costs too.

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Although Legacy Financial Strategies, LLC manages just $271 million in client assets, the firm’s team of nine financial advisors has the most advisory certifications on this list. This includes five certified financial planners (CFPs), two chartered retirement planning counselors (CRPCs), two accredited portfolio management advisors (APMAs), one certified divorce financial analyst (CDFA), one accredited investment fiduciary (AIF) and one accredited asset management specialist (AAMS).

This fee-only firm requires that new clients have at least $250,000 in investable assets to open an account. The firm may decide to waive this, though. Individuals and high-net-worth individuals make up the largest portion of Legacy’s client base, but it also works with pension and profit-sharing plans.

Legacy Financial Strategies, LLC Background

Legacy Financial Strategies has been in business since 2000. CEO Michael Lutz is the founder of the firm, though he now indirectly owns it through his trust, The Michael W. Lutz Irrevocable Trust. Lutz has worked in the financial services industry for more than 20 years.

This firm offers a wide range of services, including:

• General investment management
• Retirement planning
• Estate planning
• College fund planning
• Business tax planning
• Fiduciary and non-fiduciary retirement plan services

Legacy Financial Strategies, LLC Client Experience

Legacy Financial Strategies keeps an eye on market trends at all times and anticipates where things might head next. The information it gathers throughout this process is integrated into the firm’s portfolio models. That means your investments could change regularly as market conditions shift.

At its core, Legacy believes in strong diversification across different securities and areas of the market. The firm principally focuses on mutual funds, ETFs, stocks, corporate and municipal bonds, annuities and alternative investments.

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The two financial advisors at ETF Portfolio Partners, Inc. manage the firm’s $168 million in assets under management (AUM). Neither holds any advisor certifications. This is a fee-only firm.

This firm works almost entirely with non-high-net-worth individuals. However, high-net-worth individuals, charitable organizations, businesses, trusts, estates and 401(k) plan participants also work with the firm. In order to become a client of ETF Portfolio Partners, you will need $250,000 ready to invest.

ETF Portfolio Partners, Inc. Background

ETF Portfolio Partners was created in 2004. It is under the principal ownership of firm president and chief compliance officer (CCO) Richard Romey, vice president and secretary Debbie Romey and principal Dr. Jeffrey L. Schlachter.

This firm does provide financial planning services, but most of what it does is based around investment management. This involves creating a customized asset allocation and instituting regular rebalances.

ETF Portfolio Partners, Inc. Investing Strategy

As you might expect, ETF Portfolio Partners is a major proponent of ETFs. The firm uses a variety of ETFs investing in both stocks and bonds, and which focus  on different areas of the market. This is done to maximize diversification.

The securities that are eventually selected for your portfolio are completely dependent on what kind of investor you are. To accurately assess this, your advisor will go through an “investment questionnaire” with you to ensure your risk tolerance, time horizon and liquidity needs are clearly stated. Once your portfolio’s asset allocation is implemented, the firm will rebalance your investments periodically.

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Fee-only Everest Wealth Management, LLC (EWM) has a single financial advisor on staff - its founder, John Seitzer - to take care of its $106 million in assets under management (AUM). Seitzer is both a certified financial planner (CFP) and a chartered financial analyst (CFA).

Rather than impose an investable asset-based minimum, Everest institutes a $2,500 minimum quarterly fee based on its proprietary fee schedule. The firm’s client base is comprised of only individuals and individuals with a high net worth.

Everest Wealth Management, LLC Background

John Seitzer, Everest Wealth Management’s only financial advisor, established the firm in 2004. To this day, Seitzer owns 100% of the firm’s shares. Seitzer graduated magna cum laude from Kansas State University and has spent more than three decades working in the financial services landscape.

There’s no shortage of services available at Everest. This list includes:

• Cash flow management
• Investment management and planning
• Retirement planning
• Income tax planning
• Stock option analysis and planning
• Estate planning with tax minimization
• Education fund planning

Everest Wealth Management, LLC Client Experience

First and foremost, Everest Wealth Management will create an investment policy statement, or IPS, for each of its clients. This paperwork explicitly details the time horizon, risk tolerance, tax situation and investment goals of the client. Only after this is complete can the firm formulate a proper asset allocation plan.

The aforementioned factors will help your advisor establish a strategic investment plan. For these, EWM tends to stick with some combination of ETFs, index funds, actively-managed funds and private investments. Diversification is another major consideration, as the firm purposely selects investments that have little to no market correlation.

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There is a $25,000 minimum investment needed to start an advisory relationship with Legacy Investment Partners, LLC. Nearly all of its clients are individuals and high-net-worth individuals, though the firm also works with a handful of charitable organizations.

The three-person team at Legacy includes one chartered financial analyst (CFA) and one chartered retirement planning counselor (CRPC). This team manages $104 million in client assets.

Legacy is a fee-based firm, and some members of its advisory staff have the opportunity to sell insurance products for a commission. The firm still abides by fiduciary duty, though, legally binding it to act in clients’ best interests.

Legacy Investment Partners, LLC Background

Legacy Investment Partners was founded in 2004 by managing partners David Baker and Brenda Black. The duo have worked in finance for almost 60 years combined and they remain the firm’s principal owners.

The services available at this firm can be broken down into three main categories, including:

• Investment supervisory
  • Discretionary and non-discretionary variations
  • Risk-adjusted asset allocations
• Financial planning
  • Retirement planning
  • Estate planning
  • Insurance review
• Pension consulting
  • Plan assessments
  • Plan provider selection
  • Investment review and monitoring

Legacy Investment Partners, LLC Investing Strategy

Legacy Investment Partners uses both long- and short-term purchases within its clients’ portfolios, balancing these strategies in accordance with the risk tolerances and liquidity needs of each of its clients. For example, someone who has a higher risk tolerance may be comfortable trying to take advantage of short-term market shifts. Conversely, someone nearing retirement may want to be a little safer with their money and focus on safe investments with a good long-term outlook.