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South Texas Money Management Review

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South Texas Money Management, Ltd.

South Texas Money Management, Ltd.

With offices in Austin, Brenham, Corpus Christi, Dallas, Houston and San Antonio, South Texas Money Management (STMM) lives up to its name, geographically. The firm, headquartered in San Antonio, manages nearly $3.4 billion in assets on a mostly discretionary basis.

The firm serves individuals - both high net worth and not - trusts, estates, foundations, endowments, charitable organizations, public and private retirement plans, bank trust departments, corporations and partnerships. 

STMM is on SmartAsset’s top financial advisor lists for both San Antonio (No. 1) and Texas (No. 6).

South Texas Money Management Background

Jeanie Wyatt left her job as an executive at a large regional Texas bank to start STMM in 2000. Named by Barron’s Magazine as one of the Top 100 Women Financial Advisors from 2015 to 2018, Wyatt still works at the firm as CEO and chief investment officer. Through Baruch Management, LLC, she owns and controls the firm. 

What Types of Clients Does South Texas Money Management Accept?

As noted earlier, STMM works with individuals, trusts, estates, foundations, endowments, charitable organizations, public and private retirement plans, corporations, partnerships and bank trust departments. According to SEC data, its individual client base is almost evenly split between people who have high net worth and those who don’t.

STMM also works with bank trust departments as a sub-advisor.

South Texas Money Management Minimum Account Sizes

The firm generally requires a minimum $1,000,000 investment for a separately managed account. It also has minimum annual fees, which may not be cost-effective at lower investment levels. That said, the firm may waive or lower its minimums at its discretion.

Services Offered by South Texas Money Management

STMM primarily offers investment management services. They include asset allocation, portfolio construction and management, regular reporting and annual performance analysis. For clients who have at least $20 million, the firm will extend added services including investment strategies of independent outside investment managers.  

At no additional cost, clients can receive financial planning of limited scope. Through affiliate STMM Family Office, LLC, non-investment advisory services such as bill pay and budgeting, cash flow planning, document management and storage, philanthropy planning and wealth transfer planning are also available.

South Texas Money Management Investing Philosophy

STMM generally offers five investing strategies:

  1. Core Equity Strategy - features disciplined diversification across value and growth, sector and industry, capitalization (size of companies) and individual stocks
  2. Fixed Income Strategies - invests high quality, high-rated bonds for taxable and tax-exempt accounts
  3. Concentrated Holdings - reduce investment risk for some clients with concentrated and low-basis stock with custom diversification strategies
  4. Balanced and Conservative Accounts - combines core equity and fixed income strategies in varying allocations to meet the needs and risks of clients
  5. ETF Solution - invests in ETF and bond funds for smaller accounts or accounts with smaller allocations of equity or fixed income (generally, $250,000 or less)

To identify equity investments, the firm uses two screens it has developed that filter through a database of approximately 17,500 publicly traded companies. The firm says that its “value screen” seeks to “identify stocks that are trading at a low-price-to-cash-flow multiple, but have stabilized the business weakness that led to the low valuation,” while its “growth screen” seeks to “identify stocks with accelerating earnings and revenue growth rates.” 

Fees Under South Texas Money Management

Like most investment advisors, STMM collects management fees based on a percentage of the client’s assets under management (AUM). It also charges minimum annual fees. Both minimums and fees may be negotiated at the firm’s discretion. But here are the standard tiered fee schedules and annual fee minimums per investment strategy:

Strategy: Equity, Balanced, Bond Portfolios
(Minimum Annual Fee:  $10,000) 
 AUM  Annual Fee
 First $2 million   1.00%
 Next $8 million  0.50%
$10 million and more  0.35%   

 

Strategy: Bond-Only Portfolios
(Minimum Annual Fee:  $8,000) 
 AUM  Annual Fee
 First $2 million   0.40%
 Next $8 million  0.25%
$10 million and more   Negotiable 

 


South Texas Money Management Awards and Recognition

As mentioned earlier, Barron’s Magazine has put Wyatt on its Top 100 Women Financial Advisors list for four years running, from 2015 to 2018. It also named her a Top 100 Independent Investment Advisors in 2018. 

Additionally, the firm made it onto Informa Investment Solutions’s roundup of Top Guns of the Decade.  

What to Watch Out For

As noted earlier, STMM provides financial planning of limited scope at no extra cost. But the client must request it. If you need extensive help, the firm may recommend the services of its affiliate STMM Family Office. This may present a conflict of interest, though the firm states that all of its employees “owe an overarching fiduciary duty of care, loyalty, honesty and good faith to clients.” 

Disclosures

STMM had no legal or disciplinary actions in the past 10 years to disclose in its most recent SEC filings.

Opening an Account With South Texas Money Management

To contact STMM, call its toll free number: (866) 805.1385. Alternately, you can send a message via its website: http://www.stmmltd.com/contactus.

Where Is South Texas Money Management Located?

Headquarters are located at 700 N. Saint Mary's, Suite 100,  San Antonio, Texas 78205.

The other offices are at:

  • 5000 Plaza on the Lake, Suite 170, Austin, Texas 78746
  • 1207 South Austin Street, Brenham, Texas 77833
  • 921 N. Chaparral Street, Suite 112, Corpus Christi, Texas 78401
  • 1901 N. Akard Street, Dallas, Texas 75201
  • One Riverway,  777 S. Post Oak Lane, Suite 2055, Houston, Texas 77056

All information was accurate as of the writing of this article. 

Tips for Finding a Financial Advisor 

  • Don’t have $1 million to invest? Use SmartAsset’s pro matching tool to find an advisor who will work with you. Simply answer questions about your financial situation and preferences, and the program will match you with up to three suitable advisors in your area.
  • Ask how advisor candidates get paid. Those whose only compensation is the fees they collect from you will likely have fewer conflicts of interests than those who also receive commissions. That said, if any advisors say they are fiduciaries, that means they will work in your best interests.

How Many Years $1 Million Lasts in Retirement

SmartAsset's interactive map highlights places where $1 million will last the longest in retirement. Zoom between states and the national map to see the top spots in each region. Also, scroll over any city to learn about the cost of living in retirement for that location.

Least
Most
Rank City Housing Expenses Food Expenses Healthcare Expenses Utilities Expenses Transportation Expenses

Methodology To determine how long a $1 million nest egg would cover retirement costs in cities across America, we analyzed data on average expenditures for seniors, cost of living and investment returns.

First, we looked at data from the Bureau of Labor Statistics (BLS) on the average annual expenditures of seniors. We then applied cost of living data from the Council for Community and Economic Research to adjust those national average spending levels based on the costs of each expense category (housing, food, healthcare, utilities, transportation and other) in each city. Using this data, SmartAsset calculated the average cost of living for retirees in the largest U.S. cities.

We assumed the $1 million would grow at a real return (interest minus inflation) of 2%. This reflects the typical return on a conservative investment portfolio. Then, we divided $1 million by the sum of each of those annual numbers to determine how long $1 million would cover retirement expenses in each of the cities in our study. Cities where $1 million lasted the longest ranked the highest in the study.

Sources: Bureau of Labor Statistics (BLS), Council for Community and Economic Research