Finding a Top Financial Advisor Firm in Miami, Florida
Finding the right financial advisor is no easy undertaking, and it's hard to narrow things down in Miami, a large city with many advisors. That's why we've tried to simplify your search by compiling this list of the top 9 Miami financial advisor firms. In tables and in reviews, we lay out our findings about these firms and what sets them apart. If you need more guidance in your search, SmartAsset’s financial advisor matching tool can pair you up with financial advisors near you.
|Rank||Financial Advisor||Assets Managed||Minimum Assets||Financial Services||More Information|
|1||WE Family Offices Find an Advisor||$8,537,565,208||No set account minimum|| || |
Minimum AssetsNo set account minimum
|2||Finaccess Advisors, LLC Find an Advisor||$4,711,487,444||No set minimum|| || |
Minimum AssetsNo set minimum
|3||GenTrust Find an Advisor||$1,746,293,777||$10,000,000|| || |
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|4||Ingham Retirement Group Find an Advisor||$1,718,598,655||$100,000|| || |
|5||FitzRoy Investment Advisors Find an Advisor||$ 442,490,860||$15 million|| || |
Minimum Assets$15 million
|6||Element Pointe Advisors Find an Advisor||$ 405,837,050||$3,000,000|| || |
|7||AZ Apice Capital Management Find an Advisor||$ 307,572,774||$100,000|| || |
|8||The Lubitz Financial Group Find an Advisor||$ 215,267,835|| |
| || |
|9||IFB Wealth Management LLC Find an Advisor||$ 162,371,677||$250,000|| || |
How We Found the Top Financial Advisor Firms in Miami, Florida
SmartAsset considered all U.S. Securities and Exchange Commission (SEC)-registered firms in Miami for our list of the top 9 financial firms in the city. We looked specifically at SEC-registered firms because these firms have a fiduciary duty to put their clients’ best interests first. From there, we eliminated any firms that had legal or disciplinary issues, so that our final list only includes firms with clean records. We also cut any firms that do not manage individual accounts or offer financial planning. The remaining firms, reviewed here, are sorted according to assets under management (AUM), started with the highest AUM. All information is accurate as of the writing of this article.
WE Family Offices
At the top of our list for Miami and the state of Florida, WE Family Offices manages $8.54 billion in assets, all on a non-discretionary basis. The boutique firm caters exclusively to high-net-worth and ultra-high-net-worth families; its average client has more than $67 million in assets under advisement. WE Family Offices doesn’t have a set account minimum, but it does charge a flat fee of at least $150,000 for its family office services (this fee is higher for clients with larger net worths).
WE Family Offices is a fee-only firm. The team includes six certified financial planners (CFPs), five chartered alternative investment analysts (CAIAs), three certified public accountants (CPAs) and two chartered financial analysts (CFAs).
WE Family Offices Background
WE Family Offices was founded in 2000 as TBK Investments. It was purchased by a major bank holding company, but in 2013 the firm's executive management team reclaimed the firm's independence, creating WE Family Offices. The independent, fiduciary firm is now wholly owned by WE Family Offices Holdings, and the firm's principals, Santiago Ulloa, Maria Elena Lagomasino and Michael Zeuner, each have an ownership interest in the firm.
The firm's name, WE, stands for Wealth Enterprise, which is the phrase the firm uses to describe its wealth management style. WE Family Offices selected this style of management because it believes that families who have been able to successfully grow and protect their wealth have done so because they managed their wealth as though it were a business enterprise.
WE Family Offices strives to help its clients create their own wealth enterprise through its services, which include investment strategy and oversight, back office support and family advisory services. The firm states that its ultimate goal is to be a "committed advocate" to its client families' "long-term interests."
WE Family Offices Approach
WE Family Offices takes a highly structured approach to building clients’ wealth enterprises. The firm’s process, which emphasizes families’ unique needs, is three-part:
- Phase 1: The firm gains an understanding of a family's wealth and dynamics, including their holdings, financial provider network, wealth transfer plan, values and communication practices.
- Phase 2: The firm creates a family's holistic plan. This phase includes an evaluation of risk, an assessment of potential tax and estate planning issues, a review of fee structures from outside providers and the alignment of a family's investment portfolio with their goals.
- Phase 3: The firm executes the plan. WE Family Offices provides consolidated reporting, family governance support and education, cash flow analysis and investment oversight.
Finaccess Advisors, LLC
Like WE, Finaccess Advisors, LLC does not have a set account minimum, but primarily serves the very wealthy. Its clients include six individuals, 60 high-net-worth individuals - plus private funds, corporations and charitable organizations.
The fee-only firm has 11 advisors. Finaccess does not have a website.
Finaccess Advisors Background
Finaccess Advisors was founded in 2009. The registered investment advisor is primarily owned by Grupo Finaccess SAPI de CV. Grupo Finaccess is made up of several companies, including Finaccess México, Finaccess Capital and Finaccess Servicios Corporativos.
The firm’s services, which include wealth management and investment advisory services encompassing financial planning, retirement planning and trust services, are tailored to clients' specific needs, goals and objectives.
Finaccess Advisors Investing Strategy
Finaccess Advisors says that it strives to preserve and grow its clients' wealth in a "sustained and sustainable manner," with an emphasis on risk management and corporate governance. Along with contributing to the growth of its clients, the firm says that it also wants to contribute to the advancement of society.
Finaccess Advisors’ investment committee is responsible for recommending investments for client portfolios. Investment recommendations are based on clients’ financial objectives and risk tolerance. Aside from its tailored strategy, Finaccess Advisors may also use long-term trading and short-term trading.
GenTrust, LLC serves ultra-high-net-worth individuals and families and institutional investors. To open an acount, you’ll need at least $10 million. To hit this account minimum, however, the firm allows family members to aggregate their accounts. Also, it may waive the minimum at its discretion.
For Miamians eyeing retirement, it’s worth noting that GenTrust has a staff member certified specifically in retirement planning. Alongside a chartered retirement planning counselor (CRPC), GenTrust has two certified financial planners (CFPs), two certified investment management analysts (CIMAs), one chartered financial analyst (CFA) and one certified public accountant (CPA) among its 17 advisors. (Advisors may have more than one credential.)
GenTrust is a fee-based firm, as some of its employees may earn commissions for selling securities or insurance products. These commissions are separate from and in addition to the firm's advisory fees - and the arrangement may pose potential conflicts of interests. That said, the firm is bound by its fiduciary duty to act in clients' best interests.
GenTrust has been in business since 2011, making it one of the younger firms on this list. The firm is completely owned by management.
GenTrust was founded by a team of experienced financial advisors and investors who wanted to combine honest investment advice with the risk management-focused investment style typically reserved for large institutions. The firm’s services include wealth management, investment management, risk management, financial planning and consulting services. Additionally, it offers alternative investments and municipal bond management.
GenTrust Investment Philosophy
GenTrust's investment principles are based on academic and proprietary research. The firm's primary emphasis is on asset allocation, and it strives to achieve the optimal asset allocation for each client based on his or her risk tolerance. The firm aims to make client portfolios stable across market environments, and thus it relies on macroeconomic risk factors to set long-term asset allocation. To evaluate potential risk, the firm uses forward-looking scenario-based risk management.
Aside from asset allocation, GenTrust prioritizes low costs, diversification and tax efficiency in its client portfolios. Though the exact construction of client portfolios depends on individual clients’ investment objectives, GenTrust typically uses independent managers, mutual funds, exchange-traded funds, individual debt and equity securities, options and futures.
Ingham Retirement Group
Our next firm counts individuals, high-net-worth individuals and pension plans among its clients. Ingham Retirement Group, which also goes by Ingham Russell Investment Advisors, has a fairly large staff with 10 advisors. The practice is fee-based, meaning the firm earns income from commissions in addition to charging management fees.
The firm has a minimum account requirement of $100,000.
Ingham Retirement Group Background
Kenneth Ingham and Linda Ingham are the principal shareholders of the firm that was founded in 1991. It is connected to Alliance Benefits Group of Florida, which offers a broader range of services including record-keeping and actuarial services.
Ingham Retirement provides model portfolio management, individual portfolio management, money manager selection, pension consulting services and financial planning services.
Ingham Retirement Group Investing Philosophy
When it comes to investment strategy, Ingham Retirement prioritizes asset allocation over security selection, looking to find the right balance of securities, fixed income, and cash for every client’s risk tolerance and investment goals.
The firm also stresses the importance of a long-term perspective for clients looking to achieve stable investment returns. Consequently, it doesn’t spend much time engaging in short-term purchasing or trading.
FitzRoy Investment Advisors, LLC
Founded in 2015, FitzRoy Investment Advisors serves an exclusive client base: It requires clients to have a liquid net worth of at least $15 million, and it provides advisory services to just 37 high-net-worth individuals. Fitzroy is a fee-only firm, one of three on this list. The firm is bound by its fiduciary duty to put its clients' best interests first.
Fitzroy Investment Advisors Background
Fitzroy Investment Advisors is owned by its president and founder, Jose Fernandez.
Fitzroy offers portfolio management services and financial planning services. The firm occasionally selects outside advisors for its clients as well.
Fitzroy Investment Advisors Investing Philosophy
Fitzroy Investment Advisors creates customized asset allocation programs for each of its clients, tailoring to the client's short-term and long-term objectives, risk tolerance, time horizon and liquidity needs.
The firm primarily provides recommendations on mutual funds, exchange-traded funds (ETFs), pooled investment vehicles and separate investment managers. It typically doesn’t give advice on individual securities, though it may refer clients to third parties for advice of that sort.
Element Pointe Advisors
Element Pointe Advisors is a boutique shop that primarily serves ultra-high-net-worth families and trusts. It's minimum to be a client is $3 million, though it may waive the requirement at its discretion. The firm currently has less than 40 individual clients.
The fee-only firm offers investment management, financial planning, consulting and family office services.
Element Pointe Advisors Background
David Savir and Carlos Dominguez founded the firm in 2016. Prior to forming their own firm, both men served as vice presidents at J.P. Morgan Private Bank. Savir, Element Pointe's CEO, has also worked at Goldman Sachs and has a JD and MBA. Dominguez, who is the firm's president and chief investment officer, previously was a portfolio manager at Alpine Capital Partners and has an MBA from Stanford.
There is also a certified financial planner (CFP) on the team.
Element Point Advisors Investing Strategy
The firm tailors its advice to the client, but generally recommends exchange-traded funds (ETFs), mutual funds, individual debt and equity securities and independent investment managers. It believes that a portfolio's diversification should be across asset classes and geographies. It uses a “core and satellite” approach, which means, it says, "using low-fee index funds for beta exposure in large and efficient markets, while utilizing active managers/funds for exposure to specific sectors, geographies, concentrated positions, or asset classes where we believe that active management can add value."
AZ Apice Capital Management, LLC
Similar to Fitzroy Investment Advisors, AZ Apice Capital Management’s client base consists solely of high-net-worth individuals. Despite that, the firm’s account minimum of $100,000 is the lowest of any on this list.
AZ Apice is a fee-based firm, an important distinction to note when choosing a financial advisor. It means that advisors may receive transaction-based compensation, which can present potential conflicts of interest. That said, as an SEC-registered investment advisor, the firm must always put its clients' interests first.
AZ Apice Capital Management Background
AZ Apice has been in business since 2015. The firm is principally owned by Bruno Gorgatti, Walter Alves, PierGiacomo Rock and AZ US Holdings, Inc. - the latter a subsidiary of an Italian corporation called The Azimut Group.
The firm provides asset management services, investment advisory services and consultations on financial planning matters, including taxation concerns, trust issues and estate planning.
AZ Apice Capital Management Investment Philosophy
Like most firms, AZ Apice bases its investment advice on factors specific to each individual client, including but not limited to risk tolerance, time horizon, cash flow needs and investment objectives. After considering these factors, the firm will craft a mix of long-term purchases, short-term purchases, trades, short sales, margins transactions and options.
Client portfolios are typically invested in exchange-traded funds (ETFs), mutual funds, equities, options, bonds and other products.
The Lubitz Financial Group
To be a client of this fee-only firm, you’ll need at least $500,000, which is one of the lowest account minimums on this list. The Lubitz Financial Group serves individuals who have high net worths and those who don't. It may waive its minimum requirement at its discretion.
The firm’s team includes four certified financial planners (CFPs), one certified trust and financial advisor (CTFA), one certified investment management analyst (CIMA) and one accredited estate planner (AEP). (One advisor has four credentials.)
The Lubitz Financial Group Background
The Lubitz Financial Group was founded in 1997. Linda Lubitz Boone, the firm's founder, president and chief compliance officer, owns 95% of the firm.
The Lubitz Financial Group views wealth management as a "lifetime process which includes the act of planning for, and prudently addressing life events." The firm's services include investment advisory services, life transition planning and financial planning. It provides advice on a wide range of issues, including tax planning, insurance review, education funding planning, retirement planning, estate planning, identification of financial problems and cash flow management.
The firm offers an introductory meeting free of charge.
The Lubitz Financial Group Investing Style
The Lubitz Financial Group relies on a combination of active and passive management styles to oversee its client portfolios. The firm says that it believes that while passive investment management is "well-diversified and effective in some parts of the markets, not all parts of all markets are well suited to the passive approach." For the parts of the market that it deems unsuited to this approach, the Lubitz Financial Group uses stocks and bonds.
Another guiding principle of the firm's investment approach is Modern Portfolio Theory. This theory is founded on the assumption that the markets are efficient. It eschews the notion of trying to beat the market, instead focusing on the portfolio as a whole and the correlation between asset classes.
The Lubitz Financial Group primarily invests its clients assets in no-load mutual funds and exchange-traded funds, typically through discount brokers or fund companies.
IFB Wealth Management LLC
Last but not least, IFB Wealth Management LLC is a fee-based firm. Its investment minimum is $250,000, though it may waive the minimum at its discretion. The firm serves individuals and corporations.
That said, according to SEC data, the firm, which started in 2018, has one individual client and one client that is a banking or thrift institution. The latter's assets make up the bulk of the firm's assets under management. Currently, IFB Wealth does not have a website.
IFB Wealth Management Background
The firm is mostly owned by International Finance Bank, which in turn is owned by Guillermo Fierro Eleta. Charles Skipper is managing principal and Maria DeWitt serves as chief compliance officer - both have stakes smaller than 5%.
IFB Wealth primarily provides investment advisory services on a non-discretionary basis. This generally includes recommending third-party money managers, though the firm may directly manage assets.
IFB Wealth Management Investing Strategy
Investment services include customized asset allocation and selection, investment strategy and regular portfolio monitoring. The advisory typically uses equities, option contracts, bonds and mutual funds registered in the U.S. and fixed income. It may use other securities to help diversify portfolios when suitable. In evaluating investments, the firm applies fundamental and technical analyses.