Rhame & Gorrell Wealth Management is one of the top financial advisory firms in The Woodlands, Texas, according to SmartAsset's research. This firm is a registered investment advisor (RIA) specializing in financial planning and wealth management services.
Rhame & Gorrell has been recognized as a "Five Star Wealth Manager" by Five Star Professional for eight years. In 2019, Houston Business Journal ranked the advisory among its list of the largest Houston-area money management firms. That same year, CityWire put the firm on its list of its RIA Future 50 firms. This list recognizes RIAs expected to make major accomplishments in the near future.
The firm also has an office in Santa Barbara, California.
Rhame & Gorrell Wealth Management Background
Rhame & Gorrell Wealth Management formed in 2016. It’s owned by co-founder and president Jeffrey Rhame. As adjunct professors, Rhame taught classes on investment management and estate/insurance planning in the University of Houston and Lone Star College Systems.
The team at Rhame & Gorrell features six certified financial planners (CFPs), one certified investment management analyst (CIMA), an accredited investment fiduciary (AIF) and one certified public accountant (CPA).
Rhame & Gorrell Wealth Management Client Types and Minimum Account Sizes
Rhame & Gorrell Wealth Management advises individuals, corporations and business entities. It does not have a minimum account size.
Services Offered by Rhame & Gorrell Wealth Management
Rhame & Gorrell Wealth Management’s advisors meet with clients to create advisor agreements. These documents detail various financial planning and investment management services requested by the client. In addition to investing help, the firm’s team can offer advice on the following topics:
- Cash flow forecasting
- Trust and estate planning
- Financial reporting
- Insurance planning
- Retirement planning
- Risk management
- Charitable giving
- Distribution planning
- Tax planning
- Manager due diligence
Rhame & Gorrell Wealth Management Investment Philosophy
Rhame & Gorrell aims to build diversified investment portfolios that capture strong returns while reducing risk. When weighing investment products, the firm may engage in the following analytical strategies:
- Charting - projecting price movements by analyzing current market patterns and other trends
- Fundamental - measuring a security's intrinsic value by analyzing the financial health and potential of the company
- Technical - forecasting price movements by studying historical data on price and trade volume
- Cyclical - predicting the direction of prices by examining the historical relationship between price and market trends
The firm primarily invests in mutual funds, exchange-traded funds (ETFs), individual debt and equity securities as well as options. Rhame & Gorrell, which may manage client assets through its Tactical Asset Allocation Program (TAAP), may also use independent investment managers outside of the firm.
Fees Under Rhame & Gorrell Wealth Management
For investment management services, Rhame & Gorrell charges annual fees based on a percentage of assets under management (AUM). These fees don’t include transaction-based fees, mutual fund or exchange-traded fund (ETF) fees and other charges imposed by third-party financial institutions involved in the management of your account.
The firm imposes a quarterly management fee of $1,000. This means that accounts smaller than $325,000 will pay more than the firm's stated fee of 1.25% for accounts that have $1 million or less. That said, Rhame & Gorrell may waive the minimum fee at its discretion.
Below is the firm’s current tiered fee schedule:
|Rhame & Gorrell Wealth Management Fee Schedule|
|Portfolio Value||Base Fee|
|$1M - $1.5MM||1.00%|
|$1.5MM - $2.5MM||0.90%|
|$2.5MM - $3.5MM||0.80%|
|$3.5MM - $5MM||0.75%|
|$5MM - $7MM||0.65%|
|$7MM - $10MM||0.60%|
|More than $10MM||0.50%|
Here's an overview of how much you might pay in advisory fees as a client of Rhame & Gorrell:
|*Estimated investment management fees do not include brokerage, custodial, third-party manager or other fees, which can vary in amount.|
|Estimated Investment Management Fees at Rhame & Gorrell Wealth Management*|
|Your Assets||Rhame & Gorrell Wealth Management Fee Amount|
What to Watch Out For
Rhame & Gorrell Wealth Management has not been subject to any disciplinary actions deemed material to a potential client's evaluation of the firm's business practices.
Some of the firm’s advisors are also licensed insurance agents. These dual roles can create potential conflicts of interest, as advisors can earn commissions from these insurance sales. Despite this, the firm and its advisors are bound by fiduciary duty to act in clients' best interests at all times.
Opening an Account with Rhame & Gorrell Wealth Management
If you're interested in opening an account with Rhame & Gorrell Wealth Management, you can go online to the firm's website and submit a contact form. You can also call, email or even visit the firm in person at its The Woodlands office or its Santa Barbara office.
All information is accurate as of the writing of this article.
Tips for Finding the Right Financial Advisor
- Interview at least three candidates before making a decision about a financial advisor. This should give you enough information about fees and investment strategies. To find an advisor near you, use our interactive financial advisor matching tool. It recommends up to three local financial advisors.
- Check out our list of the top financial advisors in Houston. They've all been vetted for disclosures. If you’d like to expand your search even more, see the top financial advisor firms in the state of Texas.