Finding a Top Financial Advisor Firm in Mobile, Alabama
Finding the right financial advisor can be a challenge because there are a lot of firms to choose from. SmartAsset has done some of the work for you by researching to find the top financial advisor firms in Mobile. Below we lay out our findings about each of these firms and what differentiates them from one another. If you would like more guidance in your search, SmartAsset’s financial advisor matching tool can pair you with an advisor near you.
|Rank||Financial Advisor||Assets Managed||Minimum Assets||Financial Services||More Information|
|1||Leavell Investment Management, Inc. Find an Advisor||$1,649,841,135|| |
No set account minimum
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No set account minimum
|2||N.D. Pitman & Company, Inc. Find an Advisor||$145,604,196|| |
Varies by account option
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Varies by account option
|3||Sandifer & Associates Find an Advisor||$133,515,975|| |
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How We Found the Top Financial Advisor Firms in Mobile, Alabama
SmartAsset considered all U.S. Securities and Exchange Commission (SEC)-registered firms in Mobile to create this list of top financial advisor firms. We looked exclusively at SEC-registered firms because they have a fiduciary duty to put their clients’ best interests ahead of their own. From there, we eliminated any firms with any past disciplinary issues, so only firms with a clean record made it to our final list for consideration. We also eliminated firms that did not manage individual accounts or did not have any financial planners on staff. We sorted the remaining firms according to assets under management (AUM), from highest AUM to lowest.
Leavell Investment Management, Inc.
Leavell Investment Management is the oldest firm on this list, having been founded in 1979. It has the most assets under management of any firm in the city, at $1.65 billion. That is more than 10 times the assets under management as the second firm on this list.
Despite the large amount of money that Leavell manages, you don’t need to be a high-net-worth investor to work with the firm. In fact, the majority of clients are individuals, not high-net-worth individuals. The firm also serves estates, trusts, businesses, pension and profit-sharing plans, 401(k) plans, endowments and foundations. There is no required minimum to open an account with Leavell Investment Management, but there is a $5,000 minimum annual fee per relationship, which may dissuade investors with smaller account sizes.
Leavell Investment Management has the largest staff on this list, with 18 advisors. Three of those advisors are chartered financial analysts (CFAs) and one of them is a certified financial planner (CFP). Leavell is a fee-only firm, which means that outside of account management fees, advisors do not make commissions from the sale of securities. The firm also does not sell insurance products.
Leavell Investment Management, Inc. Background
Thomas W. Leavell founded Leavell Investment Management (formerly T. Leavell & Associates, Inc.) in 1979. He was the principal owner of the firm until 2014. Now, the firm is owned by its employees. Most employees own up to a 25% share of the firm. Andrew Grinstead serves as the company’s CEO and president.
Leavell Investment Management’s primary service is the management of a client’s investment portfolio. The firm will also occasionally provide financial planning services to clients. That could encompass services such as cash-flow planning, net worth calculations, tax planning or education planning.
Leavell Investment Management, Inc. Investing Strategy
When building a portfolio for a client, Leavell advisors seek appropriate levels of diversification. That could include investing in individual securities, mutual funds and exchange-traded funds (ETFs), as well as seeking both domestic and foreign exposure. Fixed-income securities are a vital part of the firm’s portfolios because they can help to minimize a portfolio’s overall risk.
Leavell Investment Management prefers to take a long-term approach to investing and avoids short-term trading. The firm also avoids portfolio turnover in order to keep trading expenses to a minimum.
N.D. Pitman & Company, Inc.
N.D. Pitman & Company is a fee-only financial advisor with $145.6 million in assets under management (AUM). It has just two financial advisors, one of whom - the founder, Norman D. Pitman - holds a certified financial planner (CFP) designation.
Most of the firm’s clients are individuals, with roughly equal amounts of high-net-worth individuals and non-high-net-worth individuals. N.D. Pitman & Company also serves pension and profit-sharing plans, charitable organizations, corporations and businesses. There is no account minimum for new clients.
N.D. Pitman & Company, Inc. Background
Norman D. Pitman, III founded N.D. Pitman & Company in 2005 and is the sole owner. He also serves as president and chief compliance officer (CCO). In addition to being a certified financial planner, Pitman is also a licensed attorney in the state of Mississippi, though he is not actively practicing and does not offer legal services to clients.
The two main services offered by N.D. Pitman & Company are financial planning and portfolio management. Financial planning covers a comprehensive analysis of the client’s finances and generally includes considering the client’s cash flow, tax situation, investments, insurance policies, retirement goals and estate planning. Portfolio management entails managing investments for a client.
The firm may also provide consultation services for both investment-related and non-investment-related financial questions.
N.D. Pitman & Company, Inc. Investing Strategy
When selecting which securities to invest in, N.D. Pitman & Company uses the common strategy of fundamental analysis. This technique attempts to measure the intrinsic value of a security by analyzing its finances and how it fits into the overall economy.
Unlike some other advisory firms, N.D. Pitman & Company does not show a particular preference between long-term and short-term investing strategies. According to the firm, it will make long-term purchases when it feels that a security is currently undervalued or if the firm feels the client would benefit from the asset class exposure that a security provides. A short-term purchase may be used to take advantage of a specific market condition.
Sandifer & Associates
Coming third on our list is Sandifer & Associates, with $133.5 million in assets under management (AUM). This is another small firm with only two financial advisors on staff. One of those advisors is a certified financial planner (CFP).
The firm’s primary clients include individuals, high-net worth-individuals, medical professionals, retirees, trusts and estates. There is a $350,000 account minimum for those who want to open an account.
This is also a fee-only firm. The firm does help clients with insurance-related administrative work like filling out paperwork, but it does not receive any commissions from this work.
Sandifer & Associates Background
Sandifer & Associates was founded in 1997 by James E. Sandifer. He is the owner of the firm as well as its president and CCO. The firm was registered as an investment advisory firm in 2013.
Sandifer & Associates offers financial planning services and portfolio management services to its clients. Financial planning could address the client’s short-term or long-term goals. In some cases, portfolio management may include recommending the client to third-party account managers, who are advisors who do not work for Sandifer & Associates. Fees from these third-party managers are incurred in addition to Sandifer & Associates fees.
Sandifer & Associates Investing Strategy
Investment portfolios with Sandifer & Associates consist mostly of exchange-traded funds (ETFs) and mutual funds. However, the firm will also invest in individual stocks, primarily using fundamental analysis to evaluate stocks. The firm may also invest in fixed-income securities like bonds to provide liquidity and risk management to a portfolio.