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'd like more guidance in your search, SmartAsset’s free financial advisor matching tool can pair you with vetted advisors who serve your area.
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|Rank||Financial Advisor||Assets Managed||Minimum Assets||Financial Services||More Information|
|1||Leavell Investment Management, Inc. Find an Advisor||$2,136,355,120||No set account minimum|| || |
Minimum AssetsNo set account minimum
|2||Williams Financial Group Find an Advisor||$252,212,040||$250,000|| || |
|3||Wilkins Miller Wealth Management, LLC Find an Advisor||$157,046,987||Varies by account type|| || |
Minimum AssetsVaries by account type
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|4||N.D. Pitman & Company, Inc. Find an Advisor||$136,532,092||No set account minimum|| || |
Minimum AssetsNo set account minimum
|5||Retirement Advisors, Inc. Find an Advisor||$131,461,660||$800,000|| || |
What We Use in Our Methodology
To find the top financial advisors in Mobile, we first identified all firms registered with the SEC in the city. Next, we filtered out firms that don't offer financial planning services, those that don't serve primarily individual clients and those that have disclosures on their record. The qualifying firms were then ranked according to the following criteria:
- AUMFirms with more total assets under management are ranked higher.
- Individual Client CountFirms who serve more individual clients (as opposed to institutional clients) are ranked higher.
- Clients Per AdvisorFirms with a lower ratio of clients per financial advisor are ranked higher.
- Age of FirmFirms that have been in business longer are ranked higher.
All information is obtained through public records and is updated annually after the firms’ form ADV filing. This list may include firms that have a business relationship with SmartAsset, in which SmartAsset is compensated for lead referrals. Such relationships have no impact on our rankings, and firms are included and ranked based strictly on the above criteria. SmartAsset is not a client of the aforementioned firms, and did not receive compensation for including any of the firms on the aforementioned list.
Leavell Investment Management
Leavell Investment Management is the top-rated financial advisory firm in Mobile. Leavell Investment Management is the oldest firm on this list, having been founded in 1979, and the only practice that's ranked among the best in the state. 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 without a high net worth. The firm also serves pension and profit-sharing plans, charities, businesses, consulting groups and investment companies. There is no required minimum to open an account with Leavell Investment Management.
Leavell Investment Management has a large staff that includes chartered financial analysts (CFAs), certified financial planners (CFPs), certified public accountants (CPAs), chartered life underwriters (CLUs) and certified investment management analysts (CIMAs). Leavell is a fee-only firm, which means outside of account management fees, advisors do not make commissions from the sale of securities or insurance products.
Leavell Investment Management 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 may include services such as cash-flow planning, net worth calculations, tax planning or education planning.
Leavell Investment Management Investment Strategy
When building a portfolio for a client, Leavell advisors seek appropriate levels of diversification. That may 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 minimize a portfolio’s overall risk. The firm primarily uses fundamental analysis to evaluate securities.
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.
Williams Financial Group
Williams Financial Group, a fee-based firm, is the No. 2 financial advisory practice in Mobile. The firm's relatively small staff holds professional certifications such as certified financial planner (CFP), chartered financial consultant (ChFC) and chartered life underwriter (CLU).
The minimum portfolio size at the firm is $250,000 but the firm has the right to negotiate the minimum at its discretion. It offers services to individuals, businesses, trusts and estates.
As a fee-based firm, Williams Financial Group employs certain advisors that can receive commissions for insurance or security sales. Regardless, the firm abides by fiduciary duty, which legally binds it to act in your best interest.
Williams Financial Group Background
Williams Financial Group is a DBA (doing business as) name for WFG Capital Advisors, LLC, which was founded in 2020. Matt Williams and Billy Williams are each 50% owners.
The firm provides investment management services that include customized investment portfolio management, sub-advisory services, financial planning and financial consulting.
Williams Financial Group Investment Strategy
The firm mostly uses equities and ETFs to implement its strategies. It also uses bonds, options and mutual funds. When selecting securities, the firm uses technical and fundamental analysis, as well as other factors that include but are not limited to financial strength factors, price-to-earnings ratios and broad market valuations. Furthermore, the firm uses both long-term and short-term purchases in its investment approach.
Wilkins Miller Wealth Management
Wilkins Miller Wealth Management is a fee-based firm that has a client base that consists of individuals, high-net-worth individuals and those with pension and profit-sharing plans. The firm's minimum account can range anywhere from $0 to over $5 million.
However, each account size range comes with an annual fee, which starts at 1.50% for account sizes between $0 and $1 million. Those between $1 million and $2.5 million will receive a 1.25% annual fee. And those above $2.5 million to $5 million will see a $1.00% annual fee. But if your account size is over $5 million, you will receive a 0.75% annual fee.
Wilkins Miller Wealth Management Background
Wilkins Miller Wealth Management was established in 2008 and it received in 2012, it became a registered investment advisor. The firm is owned by nine individuals, with the largest ownership not being higher than 25%. The firm has a team that consists of certified financial planners (CFPs), certified chartered financial analysts (CFAs) and certified public accountants (CPAs).
Wilkins Miller Wealth Management Investment Strategy
Wilkins Miller Wealth Management's investment strategy follows the Modern Portfolio Theory, which according to the firm, is attempting to, "Maximize portfolio expected return for a given amount of portfolio risk or equivalently minimize risk for a given level of expected return, by carefully choosing the proportions of various assets." The firm also looks to use exchange-traded funds (ETFs) and open-ended mutual funds, which is dependent on the client's strategy.
N.D. Pitman & Company
N.D. Pitman & Company is a fee-only financial advisor that primarily works with 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 Background
Norman D. Pitman III founded N.D. Pitman & Company in 2005 and is the sole owner of the business. He also serves as president and chief compliance officer (CCO). In addition to being a certified financial planner (CFP), 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 monitoring services, as well as consultation services for both investment-related and non-investment-related financial questions.
N.D. Pitman & Company Investment 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.
Retirement Advisors is a fee-only financial advisor with a client base made up exclusively of high-net-worth and non-high-net-worth individuals. The firm also serves trusts, estates and charitable organizations.
The firm has a minimum account size of $800,000 and may accept smaller amounts in certain cases. As a fee-only firm, Retirement Advisors does not sell securities or insurance for third-party firms. Instead, its revenue comes solely from client-paid fees, which are based on a percentage of assets under management.
Retirement Advisors Background
Retirement Advisors was founded in 1996 by Stephen M. Haidt. Haidt serves as the sole owner of the firm. It offers financial planning and investment advisory services to its clients.
Retirement Advisors Investment Strategy
The firm's investment philosophy involves tilting client portfolios toward small-cap and value stocks, using broad diversification for a conservative investment approach. It takes a tailored, personalized approach to designing investment strategies for clients. Investment advice is based on extensive research and long-term strategies that incorporate Modern Portfolio Theory.