Finding a Top Financial Advisor Firm in Missouri
Choosing the right financial advisor is crucial, but with so many advisors out there, finding a strong fit for you is much easier said than done. To help you through your search, we did some of the heavy lifting by collecting a number of important factors on each of the firms below, such as their assets under management (AUM), fees and investment strategies. Start your search with this list of the top financial advisor firms in Missouri. You can also use SmartAsset’s free financial advisor matching tool to receive more personalized results.
|Rank||Financial Advisor||Assets Managed||Minimum Assets||Financial Services||More Information|
|1||Moneta Group Investment Advisors Find an Advisor||$20,257,468,937||No set account minimum|| || |
Minimum AssetsNo set account minimum
|2||Buckingham Strategic Wealth Find an Advisor||$14,907,772,949||Varies based on account type|| || |
Minimum AssetsVaries based on account type
|3||Prairie Capital Management, LLC Find an Advisor||$4,507,168,975|| |
Varies based on account type
| || |
Varies based on account type
|4||Plancorp, LLC Find an Advisor||$3,670,437,507||$5,000 minimum annual fee|| || |
Minimum Assets$5,000 minimum annual fee
|5||BKD Wealth Advisors, LLC Find an Advisor||$3,094,694,433||$7,500 minimum annual fee|| || |
Minimum Assets$7,500 minimum annual fee
|6||Matter Family Office Find an Advisor||$2,428,409,909||$5,000,000|| || |
|7||Frontier Wealth Management Find an Advisor||$2,226,195,765||No set account minimum|| || |
Minimum AssetsNo set account minimum
|8||HM Capital Management, LLC Find an Advisor||$2,131,211,758||$15,500 minimum annual fee|| || |
Minimum Assets$15,500 minimum annual fee
|9||Cornerstone Wealth Management Find an Advisor||$1,939,197,318||No set account minimum|| || |
Minimum AssetsNo set account minimum
|10||Tower Wealth Managers, Inc. Find an Advisor||$1,627,491,620|| |
| || |
How We Found the Top Financial Advisor Firms in Missouri
For this list, we only considered financial advisor firms in the state of Missouri that are registered fiduciaries with the U.S. Securities and Exchange Commission (SEC). We removed from consideration any advisory practices that have disclosures, don’t manage individual accounts or don’t offer financial planning services. The top 10 firms that made the cut are listed here, sorted from the highest assets under management (AUM) to lowest.
Moneta Group Investment Advisors, LLC
Moneta Group Investment Advisors, LLC is a wealth advisory firm headquartered near St. Louis that has been doing business since the Great Depression. It currently works with 120 clients who hold more than $20 billion in assets under management (AUM). High-net-worth individuals make up the largest portion of the firm’s client base, but it also works with non-high-net-worth individuals, pension plans, charitable organizations and corporations.
The firm provides financial planning and portfolio management services for both individuals and businesses, along with outside advisor selection. Moneta doesn’t typically impose an account minimum for new clients.
Moneta is fee-based, as some of its advisors are registered representatives of a broker-dealer and some are separately licensed to sell insurance products like life insurance or annuities. While this creates the potential for conflicts of interest, the firm is bound by fiduciary duty to always act in its clients’ best interests.
Moneta Group Investment Advisors Background
Moneta Group Investment Advisors was established in 2012, and it is owned by Lawrence E. King and Daniel P. Gale. The firm employs 120 advisors. Among them are 86 certified financial planners (CFPs), 35 certified public accountants (CPAs) and 11 chartered financial analysts (CFAs).
Fees at Moneta are determined on a case-by-case basis, so there is no standard schedule that applies to all clients. Percentage-based fees generally fall between 0.50% and 1.00%, with minimum annual fees also being determined from client to client.
Moneta Group Investment Advisors Investment Philosophy
At the start of every client relationship, Moneta Group draws up an investment policy statement (IPS) that lays out how the firm will approach building the client’s portfolio. The policy will factor in the client’s investment objectives, risk tolerance, performance expectations, income tax considerations and general economic considerations, among other factors.
Moneta Group, like many firms, views asset allocation as the key determinant for long-term investment results, and as such, it tailors the allocation of each portfolio to match the client’s goals and comfort level. Fixed-income investments such as bonds are used to provide stable income and mitigate risk. Equity securities are used to generate the potential for growth, and alternative investments may be used to increase diversification or expected return.
Buckingham Strategic Wealth
Buckingham Strategic Wealth is a fee-based firm that opened for business back in 1994. It currently works with individuals, high-net-worth individuals, pension plans, charitable organizations and businesses. The firm has just under $15 billion in assets under management (AUM).
Some Buckingham advisors are also registered representatives of a securities broker-dealer, meaning they may earn commissions for overseeing certain securities transactions. This creates the potential for a conflict of interest, but the firm must always abide by its fiduciary duty to act in its clients’ best interest.
The firm offers portfolio management, financial planning, financial consulting and advisory services for retirement plans. Buckingham Strategic Wealth has a minimum annual fee of $5,000. While it technically doesn’t have a minimum investment requirement, the firm accepts new clients with less than $500,000 in assets on a case-by-case basis.
Buckingham Strategic Wealth Background
Buckingham Strategic Wealth was founded in 1994 and is headquartered in St. Louis. It’s a wholly owned subsidiary of Focus Financial, LLC, a massive nationwide network of financial advisors. The firm employs 210 advisors, only some of whom work out of its headquarters.
Many of these advisors have certifications like certified financial planner (CFP), certified public accountant (CPA), accredited investment fiduciary (AIF), chartered retirement plan consultant (CRPC), chartered financial analyst (CFA) and chartered financial consultant (ChFC).
The firm typically calculates comprehensive wealth management fees as a percentage of your AUM, with the rate ranging from 0.40% to 1.25%. These charges will likely also include financial planning fees. For clients looking for just investment management, the firm charges a minimum quarterly fee of $250.
Buckingham Strategic Wealth Investment Philosophy
Buckingham Strategic Wealth believes in evidence-based investing, and ascribes six key tenets to that philosophy:
- Outperforming the market is difficult.
- Size, value and momentum are all crucial elements of stock selection.
- Global diversification is the starting point.
- The primary role of fixed-income is to reduce portfolio volatility.
- Academic evidence supports modest use of alternative investment strategies.
- Evidence-based investing slowly evolves over time.
When constructing client portfolios, Buckingham typically opts for mutual funds and exchange-traded funds (ETFs) over individual stocks. The firm will also invest in fixed-income securities such as bonds to mitigate risk and provide income. Some of the funds the firm invests in may contain alternative investments such as real estate investment trusts (REITs) or commodity futures.
Prairie Capital Management, LLC
Prairie Capital Management, LLC is a wealth advisory firm that was established in 1995. Over the years, it’s accrued around 470 clients who hold more than $4.5 billion in assets under management (AUM). The firm’s client base is home to high-net-worth individuals, pooled investment vehicles, pension plans, charitable organizations, insurance companies and corporations.
The firm provides financial planning, portfolio management, consulting for retirement plans and the selection of outside advisors. Prairie Capital doesn’t specify an account minimum of its own, but it does offer investments in several private funds, which themselves have minimums ranging from $50,000 to $1 million.
Prairie Capital Management is a fee-based firm, meaning its advisors may earn commissions by conducting certain securities transactions as registered representatives of a broker-dealer. While this creates a potential conflict of interest, the firm has a fiduciary duty to always act in your best interest.
Prairie Capital Management Background
Prairie Capital Management was established in 1995 by Rob R. Schneider, Brian N. Kaufman and Curtis A. Krizek. In addition to its Kansas City office, the firm has branches in the Chicago and Dallas areas. Throughout these branches, the firm employs 37 advisors, some of whom have earned professional certifications including chartered financial analyst (CFA) and certified public accountant (CPA).
The firm doesn’t provide specifics regarding how its advisory fees are normally calculated, but fees can come in the form of hourly charges, fixed fees or a percentage of AUM. Prairie Capital Management may charge performance-based fees, which is relatively uncommon industry-wide.
Prairie Capital Management Investment Philosophy
Prairie Capital Management typically invests client assets in a combination of mutual funds, exchange-traded funds (ETFs), private investment funds, individual stocks and cash or cash equivalents.
The firm starts each investment process by evaluating the client’s specific financial goals and objectives. With these factors in mind, the firm will develop an initial asset allocation between broad asset classes like equity, fixed-income and alternative investments. Prairie Capital advisors will monitor the chosen allocation continuously, also keeping an eye on any independent managers selected. The firm typically performs holistic portfolio reviews on a quarterly basis.
Plancorp, LLC has been around since 1983. Headquartered in St. Louis, the firm currently manages roughly $3.6 billion in assets from more than 1,200 clients. The firm’s clients are a standard mix of individuals and high-net-worth individuals, pension plans, charitable organizations and corporations.
The firm offers fee-only investment management and financial planning services to its clients, as well as consulting services for pensions and other qualified retirement plans. The firm doesn’t impose an account minimum, but it does charge a minimum annual fee of $5,000. Keep in mind that this minimum may cause Plancorp’s services to be cost prohibitive for you.
Plancorp first opened for business in 1983, and it’s 40% owned by Prumentum Group, Inc., a holding company. The remaining shares of the company are owned by members of the Plancorp board of managers, leadership team and other employees. Among the firm’s 49 advisors are 24 certified financial planners (CFPs), 23 accredited investment fiduciaries (AIFs), four certified public accountants (CPAs) and five chartered financial analysts (CFAs).
For investment management services, the firm will typically charge you 0.45% to 1.00% of your invested assets, although it may decide to negotiate a different fee. For financial planning or other consulting services, the firm will typically negotiate a fixed fee based on the scope and complexity of the services being provided. This fee usually ranges from $4,000 to $20,000.
Plancorp Investment Philosophy
Plancorp's investment philosophy centers around modern portfolio theory (MPT), which attempts to minimize volatility and maximize returns for a given level of risk. The firm generally opts for a passive asset management style over an active one, and therefore, it often recommends no-load passively managed mutual funds.
Plancorp doesn’t frequently build portfolios with individual stocks, bonds or actively managed mutual funds. However, it may include these investments in special circumstances if it feels that doing so would best meet the specific needs of the client. With every portfolio, the firm stresses fee and tax minimization.
BKD Wealth Advisors, LLC
BKD Wealth Advisors, LLC employs 42 financial advisors. This team serves roughly 1,440 clients and manages just over $3 billion in assets. Founded in 1998, the firm works with individuals, high-net-worth individuals, pension plans, charitable organizations and corporations.
The firm offers wealth management, investment consulting, financial planning and retirement plan consulting. BKD doesn’t have a minimum account size, but it does generally charge a minimum annual fee of $7,500, which could make its services cost prohibitive for some clients.
Some advisors at BKD are separately licensed to sell insurance products, like life insurance or annuities. Selling these products may generate a commission for the advisor, which in turn creates the potential for a conflict of interest. However, the firm must follow its fiduciary duty to its clients and always act in their best interests.
BKD Wealth Advisors Background
BKD Wealth Advisors was established in 1998. The firm is owned by BKD, LLC, a nationwide CPA and advisory firm. The firm has 42 advisors in total, working out of 40 different offices in 18 states. The firm has locations in Branson, Joplin, St. Louis and Kansas City, and its headquarters are in Springfield. Many BKD advisors have professional certifications, like certified financial planner (CFP), certified public accountant (CPA) and chartered financial analyst (CFA).
For wealth management services, the firm charges a percentage of your assets under management (AUM) from 0.45% to 1.50%. For investment consulting clients, the firm may choose to charge either an hourly fee between $100 and $500 or a negotiable fixed fee. For financial planning services, the firm may charge either a fixed fee between $500 and $30,000 or an hourly fee between $140 and $500.
BKD Wealth Advisors Investment Philosophy
BKD Wealth Advisors usually invests in mutual funds, exchange-traded funds (ETFs), individual stocks, bonds and alternative investments. Often the firm concludes that a portfolio primarily, or even exclusively, made of mutual funds is the most appropriate choice for many clients’ situations.
The firm prioritizes global diversification when investing client assets, as it believes this is crucial for mitigating against risk in the long term. Additionally, the firm makes sure to keep each client’s tax considerations top of mind when making investment decisions.
Matter Family Office
Matter Family Office is the next firm in our roundup, having been founded in 1990. It has roughly a 240-member client base that’s split between individuals, high-net-worth individuals, pooled investment vehicles and charitable organizations.
This fee-only firm provides investment management, wealth planning and consulting services to its clients. Matter Family Office has the highest account minimum of any firm on this list at $5 million. The firm may accept clients beneath this mark, provided they adhere to a minimum annual fee of $35,000.
Matter Family Office Background
Matter Family Office was created in 1990. Headquartered in St. Louis, the firm is wholly owned by Matter Holding Company, Inc., which in turn is owned by the current management team and employees of the firm.
There are 23 advisors working here. Across this staff, there are eight certified financial planners (CFPs), two chartered financial analysts (CFAs) and one certified public accountant (CPA).
Fees for advisory services at the firm tend to fall between 0.25% and 1.00% of your assets under management (AUM). Keep in mind that the firm has a minimum annual fee of $35,000, meaning that if you have less than $3.5 million in assets, you will wind up paying higher than a 1.00% fee.
Matter Family Office Investment Philosophy
Matter Family Office approaches investing with an emphasis on diversification across asset classes, investment styles and markets in order to maximize expected return for a given level of risk. The firm also uses the services of Asset Consulting Group, an external investment consultant, to help formulate portfolio recommendations. With this assistance, the firm constructs asset allocations for each portfolio that seeks to optimize investment opportunities while staying tailored to each client’s specific financial needs.
Frontier Wealth Management, LLC
Frontier Wealth Management, LLC has $2.2 billion in assets under management (AUM), and it serves roughly 1,620 clients. Individuals, high-net-worth individuals, pooled investment vehicles, pension plans, charitable organizations and corporations make up the firm’s client base.
Frontier specializes in both investment management and financial planning. While the firm itself has no minimum account size, many of the funds it recommends require a minimum investment of $25,000. This means that clients with smaller accounts may find it difficult to adequately diversify.
Frontier Wealth Management Background
Frontier Wealth Management was founded in 2007, making it the youngest firm on this list. Headquartered in Kansas City, the firm also has offices in Wichita, Kansas; Albany, Georgia; St. Louis, Missouri; Phoenix, Arizona; Lone Tree, Colorado; and Hutchinson, Kansas. Among the firm’s 26 advisors are seven certified financial planners (CFPs), five certified public accountants (CPAs) and one chartered financial analyst (CFA).
Financial planning fees can come in the form of a fixed fee or an hourly fee, and the amount can vary depending on the scope of the services provided and the complexity of your financial situation. Investment management fees are charged as a percentage of your AUM, usually between 0.25% and 1.50%.
Frontier Wealth Management Investment Philosophy
Frontier Wealth Management strongly believes that a proper asset allocation means much more than simple diversification. In the firm’s eyes, a portfolio that’s diversified but isn’t tailored to the specific investing goals of the client is a portfolio that isn’t achieving its potential. The firm applies an understanding of its clients’ financial situations, as well as the tenets of modern portfolio theory (MPT), to construct investment portfolios that both mitigate against unnecessary risk and align with their personal objectives and needs.
Frontier generally invests with a long-term view, intending to hold on to investments for a year or longer. This isn’t always the case, though, particularly if it doesn’t fit with the needs of the client or if a portfolio needs rebalancing.
HM Capital Management, LLC
HM Capital Management, LLC has been an investment advisor in Missouri since 2005. Its 120 clients are a mix of individuals, high-net-worth individuals, pooled investment vehicles, pension plans, charitable organizations, insurance companies and corporations. The firm has about $2.1 billion in assets under management (AUM).
HM provides fee-only portfolio management and financial planning to its clients, as well as consulting for families and retirement plans. While the firm doesn’t impose a minimum account size, it does charge a minimum annual fee of $15,500, which may make its services cost prohibitive for some clients.
HM Capital Management Background
HM Capital Management was formed in 2005 and keeps its headquarters in Clayton. It’s principally owned by the MEK Family Trust, Karen Gloriod, Maribeth Snodgrass and Benjamin Westerman. The firm employs seven advisors, with one certified financial planner (CFP) and three certified public accountants (CPAs) among them.
HM typically charges wealth management fees as a percentage of your AUM between 0.50% and 2.00%. This fee normally covers both portfolio management and financial planning, but remember the firm has a minimum annual fee of $15,500.
HM Capital Management Investment Philosophy
HM Capital Management’s investment approach is centered around comprehensive planning and strategic asset allocation. The firm starts each relationship by sitting down with the client and establishing what their financial goals, risk tolerance and preferences are. From there, advisors will determine the most appropriate mix of investments.
Securities used in HM’s portfolios may include equities, securities issued by foreign issuers, warrants to purchase securities, corporate debt securities, commercial paper, certificates of deposit (CDs), municipal securities, mutual funds, securities issued by the U.S. government and exchange-traded funds (ETFs).
Cornerstone Wealth Management, LLC
Cornerstone Wealth Management, LLC has been providing investment advice to clients in the Missouri area since 2005. It has the largest client base of any firm on this list, working with just shy of 12,000 individuals, high-net-worth individuals, pension plans, charitable organizations and corporations. The firm has no account minimum.
Certain Cornerstone advisors are registered representatives of a broker-dealer, which means they may earn commissions for conducting certain securities transactions. Additionally, some advisors are separately licensed to sell insurance products, which may also generate commissions. These commissions create the potential for conflicts of interests, but the fee-based firm is still bound by fiduciary duty to always act in your best interest.
The firm provides financial planning and consulting, on top of asset management services. Additionally, the firm refers some client assets to third-party advisors from time to time.
Cornerstone Wealth Management Background
Cornerstone Wealth Management was founded in 2005, and it’s headquartered in St. Peters. The firm is principally owned by Gregory Shoemaker and Joseph Keifer. Cornerstone Wealth Management employs 87 advisors, some of whom work in different states and operate under various business names. Many advisors have earned professional certifications such as certified financial planner (CFP), chartered financial analyst (CFA) and accredited investment fiduciary (AIF).
Fees for investment advisory services are based on a percentage of your assets under management (AUM) that can range up to 2.50%. Financial planning services may come with a fixed or an hourly fee. If fixed, the fee will end up being anywhere from $500 to $5,000. If hourly, the fee will be somewhere around $300.
Cornerstone Wealth Management Investment Philosophy
Cornerstone Wealth Management primarily invests in individual stocks or bonds, exchange-traded funds (ETFs), exchange-traded notes (ETNs), options, mutual funds and other public and private securities.
The firm constructs portfolios that are customized to each client’s investment objectives and tolerance for risk. Instead of focusing primarily on security selection, Cornerstone advisors attempt to arrive at the appropriate balance of securities, fixed-income instruments and cash that matches the client’s goals and financial situation.
Tower Wealth Managers, Inc.
Tower Wealth Managers, Inc. has been an investment advisor in Missouri since 2007, making it one of the two youngest firms on this list along with Frontier Wealth Management. Its roughly 35 clients include individuals, charitable organizations, insurance companies and affiliated trust companies. The firm has roughly $1.6 billion in assets under management (AUM).
Tower Wealth Managers primarily provides financial planning and fee-only portfolio management to its clients. Additionally, the firm acts as a sub-advisor for the clients of Country Club Trust Company. Typically a minimum of $200,000 in investable assets is required to work with the firm, but it may waive this minimum at its discretion.
Tower Wealth Managers Background
Tower Wealth Managers was formed in 2007. Its headquarters are located in Kansas City. It’s principally owned by Country Club Trust Company, NA, which is itself owned by Country Club Bank. Among the firm’s nine advisors, two are certified financial planners (CFPs) and six are chartered financial analysts (CFAs).
Tower charges its investment management fees as a percentage of your AUM. These can range from 0.30% to 1.00%, depending on the value of your portfolio. Financial planning services are usually provided to portfolio management clients at no additional charge. For stand-alone financial planning, the firm will negotiate a fixed fee that varies from client to client.
Tower Wealth Managers Investment Philosophy
Tower Wealth Managers tailors its investment strategy for each client depending on their goals, risk tolerance, cash flow needs and time horizon. Asset classes within its portfolios usually include equities, fixed-income instruments, alternative investments and cash.
The firm generally recommends that clients invest in individual equities, bonds, mutual funds, exchange-traded funds (ETFs) and other investment products. While the firm normally invests with the intent to hold the investments for a year or longer, it may conduct short-term transactions for tax purposes or to suit specific client needs.