Finding the Top Financial Advisors in Sarasota, Florida
Finding a financial advisor in Sarasota, Florida, can be a challenge. To find a quality firm, you’d really have to dig into government and financial records like form ADVs. But we did all the hard work for you in order to find the top nine financial advisors in Sarasota. We covered all the basics such as account minimums, fee basis and more.
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|Rank||Financial Advisor||Assets Managed||Minimum Assets||Financial Services||More Information|
|1||TRUADVICE, LLC Find an Advisor||$757,667,973||No set account minimum|| || |
Minimum AssetsNo set account minimum
|2||Walsh & Associates, LLC Find an Advisor||$580,247,263||$250,000|| || |
|3||Day Hagan Asset Management Find an Advisor||$604,991,888||$500,000|| || |
|4||LPF Advisors, LLC Find an Advisor||$230,847,882||Varies based on account size|| || |
Minimum AssetsVaries based on account size
|5||Truvestments Capital, LLC Find an Advisor||$282,733,983||No set account minimum|| || |
Minimum AssetsNo set account minimum
|6||Global Financial Private Client Find an Advisor||$403,324,873||$2,000,000|| || |
|7||Compound Family Offices, LLC Find an Advisor||$366,536,667||$10,000,000|| || |
|8||IFS Advisors, Inc. Find an Advisor||$226,070,034||$50,000|| || |
|9||Ranch Capital Advisors, Inc. Find an Advisor||$210,731,869||$500,000|| || |
|10||Wealth Pro Advisors, Inc. Find an Advisor||$222,500,000||$100,000|| || |
What We Use in Our Methodology
To find the top financial advisors in Sarasota, 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 accurate as of the writing of this article. 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.
TRUADVICE is an investment advisory firm mostly working with non-high-net-worth individuals. But the firm also extends services to high-net-worth individuals and other investment advisors. You don’t need a minimum investment to start a relationship with the firm.
The firm may collect fees from you as a percentage of assets under management (AUM) or a fixed basis depending on the scope of the financial planning services you get. Members of the firm may also collect commissions from third parties for selling or recommending insurance products. This is a potential conflict of interest, but advisors still have to act in the best interest of the client due to their fiduciary duty.
TRUADVICE has been in operation since 2018. It is majority-owned by CS Sleight Inc. and minority-owned by Christopher Heerlein.
The firm provides ongoing financial planning and investment account management services. Your plan would depend on you and your family's needs. But the firm’s advisors can offer guidance around several topics such as trust and estate planning, retirement savings through individual retirement accounts (IRAs) and other plan types.
TRUADVICE Investment Strategy
TRUADVICE generally invests client assets in stocks, bonds, mutual funds and exchange-traded funds (ETFs). But it may consider other types of securities if it deems appropriate for your financial profile and investment goals. It may also utilize the help of sub-advisors.
Walsh & Associates
Walsh & Associates has a client base that consists mostly of non-high-net-worth individuals and high-net-worth individuals. It also advises trusts, estates, charities, pension and profit-sharing plans and businesses.
To receive asset management services from the firm, you’d need at least $250,000. Certifications earned by the team include features chartered financial analyst (CFA), certified private wealth advisor (CPWA), certified financial planner (CFP), accredited investment fiduciary (AIF) and certified trust and financial advisor (CTFA).
The firm is fee-based, so some advisors may earn commissions. This is a potential conflict of interest, but advisors still must act in the client's best interest.
Walsh & Associates Background
Walsh & Associates first opened its doors in 2011 and is principally owned by Joseph P. Walsh, Jr., along with minority owners Joseph Walsh III, Thomas Walsh and Michael Walsh.
The firm breaks down its services into three main segments. First, through its asset-management program, the firm creates a diversified portfolio for an individual client based on personal factors such as long-term investment goals and risk profile. Second, its comprehensive portfolio management service combines this with financial planning services that address such topics as retirement and estate planning, tax management and investing for education through funds like a 529 college savings plan.
Finally, the firm offers its proprietary Red Flag Audit program, where it takes a deep dive into your financial situation to identify and address areas in your financial life that need specific attention. The scope of the plan depends entirely on the individual, but it may touch on the following:
- Insurance and risk management
- Education funding
- Estate planning
Walsh & Associates Investment Strategy
Walsh & Associates mainly allocates client assets across individual stocks or bonds, exchange-traded funds (ETFs), options, mutual funds and variable annuities. It may also consider other types of securities if it believes they may help you meet your investment goals.
In its securities selection process, the firm would consider your individual financial circumstances. It will also take into account factors like market research and reports on economic outlook.
Day Hagan Asset Management
The advisory team at Day Hagan Asset Management features two certified financial planners (CFPs), two chartered financial analysts (CFAs) and one chartered market technician (CMT). Day Hagan is fee-based, which means some of its employees and related persons may earn commissions on insurance products. This is a potential conflict of interest, but the firm still adheres to fiduciary duty.
With a minimum $500,000 investment requirement, the firm mostly works with individuals who are not high net worth. Its clientele also includes high-net-worth individuals and investment companies.
Day Hagan Asset Management Background
Day Hagan has been offering investment advice since 2004. Today, it’s owned by Donald L. Hagan and Arthur S. Day. Hagan and Day are the firm's co-founders.
The firm offers the following services:
- Portfolio management
- Financial planning and consulting
- Selection of third-party advisers
- Sub-advisory services
- Pension consulting
Day Hagan Asset Management Investment Strategy
Day Hagan utilizes portfolio models it developed in partnership with Ned Davis Research. Built primarily with exchange-traded funds (ETFs), these models aim to capture opportunities for substantial growth in the market while leveraging against risk. They offer exposure to U.S. equities, fixed-income, international equities, precious metals, real estate, commodities and currencies.
LPF Advisors is a fee-based firm serving only individuals, nearly all of whom are not high-net-worth. There are no institutional clients at the firm.
Fees at the firm are generally based on a percentage of assets under management. Some advisors may earn commissions, which is a potential conflict of interest. Still, advisors must act in the best interest of the client due to their fiduciary duty.
The team at LPF includes two chartered retirement planning counselors (CRPCs), two behavorial financial advisors (BFAs), one certified financial planner (CFP), one accredited investment advisor (AIF).
Account minimums vary, depending on which type of service a client has with the firm.
LPF Advisors Background
LPF Advisors was founded in 2005 and is principally owned by co-founders Mark Armand Picchi and Kristopher Scott Flammang.
Services include portfolio management, investment strategy, portfolio monitoring, financial planning, life insurance, retirement planning, college planning, estate planning and preservation services.
LPF Advisors Investment Strategy
Modern portfolio theory is at the heart of LPF's strategy. This involves looking to maximize expected given return given an allowed portfolio risk, or to minimiz risk given an expected return.
Long-term trading is the most common investment tactic.
Truvestments Capital is a fee-based financial advisory firm. It offers financial planning and portfolio management, as well as family office wealth planning services. Its team includes a certified financial planner (CFP).
The firm works with non-high-net-worth individuals, high-net-worth individuals and registered investment advisers. It does not require an account minimum for individual portfolio management services.
Some advisors at the firm can earn commissions for selling financial products. This is a potential conflict of interest, but all advisors still ahve to act in the best interest of the client.
Truvestments Capital Background
Truvestments has been providing investment advisory services since 2008. It is currently run by parent firm Truvestments Asset Management, LLC.
Services available through this firm include the following:
- Portfolio management
- Wrap fee programs
- Sub-advisory services
- Financial planning
- Family office and wealth planning services
- Pension consulting
Truvestments Capital Investment Strategy
The firm’s asset management program starts with a detailed analysis of your individual financial profile, from which it formulates and builds an investment portfolio. When choosing securities, the firm relies on market research, analysis of economic sector conditions and more.
As of the most recent SEC data, assets under its management were primarily invested in exchange-traded securities (like common stocks). The rest were allocated to investment-grade corporate bonds, cash and cash equivalents, U.S. government and agency bonds and non-investment-grade corporate bonds.
Global Financial Private Client
Global Financial Private Client's team features one certified financial planner (CFP). The minimum investment here is $2 million, though the firm may be willing to accept clients with less than that amount This is also a fee-only firm.
The firm offers holistic financial planning and portfolio management services to a diverse client base, which includes high-net-worth individuals along with their related estates, trusts, retirement accounts and more. It also works with businesses, charities and pension and profit-sharing plans.
Global Financial Private Client Background
Geoff Frazier, a certified financial planner (CFP), founded the firm in 2017. Today, it is principally owned by Frazier.
The firm aims to create a comprehensive financial plan that addresses every aspect of a family's financial life. Depending on your needs, it can involve the following topics:
- Wealth management
- Estate planning
- Professional network management
- Asset protection
- Tax planning
- Risk management
- Generational planning
- Cyber protection
In addition, the firm can work on personal projects upon your request.
Global Financial Private Client Investment Strategy
GFPC seeks to build investment portfolios based on individual client circumstances such as time horizon, investment goals and current financial situation as well as economic projections. Using modern portfolio theory, which suggests that investors should seek strong returns and mitigate risk by diversifying portfolios with several asset classes, the firm may invest your assets among mutual funds, exchange-traded funds (ETFs), individual securities and more.
Compound Family Offices
Compound Family Offices advises ultra-high-net-worth and non-high-net-worth individuals and their related accounts, including trusts, estates and foundations. The firm also works with nonprofits and charities.
For investment advice, the firm generally requires families to have a minimum of $10 million in assets. The firm operates on a fee-only basis, and may be willing to waive the above minimum under the right circumstances.
Compound Family Offices Background
Compound Family Offices has been in business since 2018, making it a relatively young firm compared to most on our list. Managers Scott Gurr and Erik C. Popham are the principal owners. The advisory team here features three chartered financial analysts (CFAs), one chartered alternative investment analyst (CAIA) and one certified trust and fiduciary advisor (CTFA).
The firm offers several stand-alone financial planning services along with portfolio management.
Compound Family Offices Investment Strategy
Instead of conducting quantitative or qualitative analysis of individual securities, the firm researches and selects third-party investment managers and negotiate lower fees and other advantages for its clients.
The firm also generates advice around several types of securities. Depending on factors such as your risk tolerance, it may recommend investing in certain stocks, bonds, mutual funds, private funds and more.
IFS Advisors primarily works with individual clients, most of whom do not have a high net worth. The firm's small institutional client base is comprised of businesses and charitable organizations. The firm also has a $50,000 minimum investment requirement.
The advisory staff at IFS includes one chartered financial analyst (CFA). Some of the firm's advisors can sell insurance products and securities on a commission basis. While this presents a potential conflict of interest, the firm's fiduciary duty means it must act in clients' best interests at all times.
IFS Advisors Background
IFS Advisors has been in business since 2011. It's under the ownership of its founder, Daniel J. Wolff.
The advisory services available at IFS range from financial planning to investment management. Some specific offerings include retirement planning, annuity and insurance planning, education fund planning, estate planning, long-term care/disability planning and more.
IFS Advisors Investing Strategy
When managing client assets, IFS Advisors typically designs portfolios according to each client's needs and current financial circumstances. This involves accounting for their taxes, risk tolerance, income and liquidity needs, time horizon, financial goals and any other applicable factors. As their portfolio ages, the firm will also reevaluate it and make any necessary rebalances.
Generally speaking, IFS usually invests in the following security types: stocks, bonds, ETFs, options and mutual funds.
Ranch Capital Advisors
Ranch Capital Advisors is an entirely individual-centric financial advisor firm. In fact, it works mostly with non-high-net-worth individuals, with about a fifth of its client base being high-net-worth individuals. The firm also has a $500,000 minimum investment requirement, though it may be willing to waive this under the right circumstances.
The advisory team here includes two certified financial planners (CFPs). As a fee-based firm, certain on-staff advisors can sell insurance and securities on a commission basis. Although this presents a potential conflict of interest, the firm's fiduciary duty requires it to act in clients' best interests.
Ranch Capital Advisors Background
Ranch Capital Advisors is quite a young firm, as it was founded in just 2019. The firm is owned by Ranch Cap Holdings, a financial services holding company.
Both financial planning and investment management services are available through this firm.
Ranch Capital Advisors Investing Strategy
Ranch Capital Advisors will first meet with clients to discuss the specifics of their situation before making any investment decisions. The most important factors the firm focuses on are risk tolerance, time horizon, financial goals and income needs. As your long-term situation changes, the firm will update your investment plan. This may also involve rebalancing your portfolio so your investments match your newfound changes.
Wealth Pro Advisors
Wealth Pro Advisors asks that clients have at least $100,000 in investable assets before becoming a client. However, the firm may be willing to waive this stipulation under certain circumstances. As far as its client base goes, the firm works with a nearly even split between individuals with and without a high net worth.
Some of the advisors who work here can sell third-party insurance for a commission. Although this presents a potential conflict of interest, the firm's fiduciary duty means it must act in clients' best interests
Wealth Pro Advisors Background
Wealth Pro Advisors is owned by its founder, Dave Szabo. Szabo has around two decades of experience in the financial services industry. The firm has been in business since 2013.
Here's a breakdown of some of the services available through Wealth Pro:
- Investment management
- Retirement plan/tax management
- Retirement income management
- Income tax management
- Estate distribution planning
- Legacy planning
- Business succession planning
Wealth Pro Advisors Investing Strategy
Wealth Pro Advisors works with clients early on in their relationship to understand what kind of investor they are. This will help inform various important factors, such as risk tolerance, time horizon, income and liquidity needs and financial goals. The firm also uses model portfolios, so your portfolio may have a custom asset allocation or a predetermined one.
As your financial situation changes over time, Wealth Pro will adjust your portfolio's composition. This is called rebalancing, and the firm will do it on an as-needed basis.