Finding a Top Financial Advisor Firm in Tampa, Florida
Choosing a financial advisor is tough. There are so many options out there, including national financial institutions, robo-advisors and all the firms in your area. It can be frustrating to try to figure out who would best suit your financial situation and goals. That’s where SmartAsset comes in. We combed through the financial advisors in your local area to find the best options in Tampa, Florida.
|Rank||Financial Advisor||Assets Managed||Minimum Assets||Financial Services||More Information|
|1||PSI Advisors, LLC Find an Advisor||$323,291,106||No minimum|| || |
Minimum AssetsNo minimum
|2||Wealth Advisors of Tampa Bay Find an Advisor||$272,618,508||$100,000|| || |
|3||Bayshore Capital Advisors, LLC Find an Advisor||$237,352,312||$20,000,000|| || |
|4||Brightwater Advisory Find an Advisor||$176,708,743|| |
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|5||Rutherford Asset Planning Find an Advisor||$168,879,749|| |
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|6||TRUADVICE, LLC Find an Advisor||$104,117,356||No minimum|| || |
Minimum AssetsNo minimum
How We Found the Top Financial Advisor Firms in Tampa, Florida
We considered firms that are registered with the U.S. Securities and Exchange Commission (SEC). This gave us a list of firms that handle significant amounts of cash - generally in the billions or hundreds of millions. SEC-registered firms are under government oversight; they’re required to file paperwork periodically and adhere to the government’s fiduciary policies. We cut firms that had disclosures or disciplinary issues and we eliminated companies that don’t manage individual client accounts. The top six firms are arranged from most assets managed to least.
PSI Advisors, LLC
PSI Advisors, LLC comes in second on our top Tampa advisors list, managing more than $323 million in assets. This firm is also fee-based, meaning your advisor can make money from selling you insurance or other products in addition to charging a management fee.
PSI manages more than 1,300 accounts and has nine advisors on staff. There is no account minimum for services at PSI.
PSI Advisors Background
Eric Damien Eaton founded PSI Advisors in 2016, making it the youngest firm on this list. However, Eaton has been providing financial advice to clients for more than 20 years. Eaton is the sole owner of the firm.
The firm provides financial planning services including investment planning, retirement planning, college planning and tax planning. Eaton is also licensed to sell life insurance. Additionally, the firm provides consulting services to pensions or other employee-sponsored benefit plans.
PSI Advisors Investment Philosophy
PSI Advisors relies on may different methods of analysis when examining securities, including charting, fundamental analysis, technical analysis, cyclical analysis and quantitative analysis. When it comes to actual investment strategies, the firm takes part in long-term purchases, options trading and margin transactions.
PSI Advisors tailors its strategies to its clients, factoring in the client’s risk tolerance, time horizon, long-term objectives and financial preferences before determining the best path forward.
Wealth Advisors of Tampa Bay
Wealth Advisors was founded in 2012 and has six employees. It is fee-based firm, meaning its advisors earn money from sources other than fees paid by clients.
The company manages more than 350 accounts, and the minimum assets required are $100,000, the second-highest requirement on this list. Wealth Advisors of Tampa Bay manages roughly $273 million in assets under management, placing it about $50 million under PSI Advisor’s $323 million.
Wealth Advisors of Tampa Bay Background
Robert F. Giles Jr., president and chief investment officer, is the primary owner of the firm. He was a founding partner of the firm in 2012. He’s a certified investment management analyst (CIMA) and has an MBA from the University of Georgia. Giles Jr. has more than 35 years of experience in the financial services industry.
Roger Martin, senior wealth advisor and founding partner, owns about one-third of Wealth Advisors of Tampa Bay. A certified financial planner (CFP), he serves as the chief financial officer and senior portfolio manager and has more than 25 years experience in investments and insurance. Robert F. Giles III owns a small portion of the company and serves as a wealth advisor. He’s also a CFP, a chartered alternative investment analyst (CAIA) and serves on the Wealth Advisors of Tampa Bay’s investment committee.
One other wealth advisor at the firm, Gessie Lipscomb, is also a CFP, making for a total of three CFPs a the Tampa firm.
Wealth Advisors of Tampa Bay Investment Analysis
Advisors at the firm use four main methods of analysis when evaluating securities in which to invest client assets. Charting, a form of technical analysis, is used to try to identify when the market is moving up and down and how long the trend might last. Fundamental analysis helps the advisors measure the intrinsic value of a security. This is accomplished by considering financial and economic factors surrounding the company and industry itself.
A third method, technical analysis, is when advisors look at past market movements to try to find recurring patterns of investor behavior to help predict future price movement. Lastly, they use cyclical analysis, which involves the measurement of a stock against the market as a whole to try to predict price movement.
Bayshore Capital Advisors, LLC
Bayshore Capital Advisors is by far the most exclusive firm on this list, with an account minimum of $20 million for individual clients. Among the firm’s 10 advisors are two certified public accountants (CPAs), three chartered financial analysts (CFAs) and one chartered alternative investment analyst (CAIA).
Despite the firm’s high account minimum it does work with some non-high-net-worth clients in addition to high-net-worth individuals. It also works with some pooled investment vehicles and charitable organizations. Bayshore Capital Advisors is a fee-only firm, meaning it earns income only from clients paying management fees.
Bayshore Capital Advisors Background
Bayshore was founded in 2001 by Tready Smith, who is also the firm’s CEO and owns 90% of the firm. The other 10% is owned by the firm’s managing partner, Thayer Smith.
The firm provides investment supervisory services to individual clients and also serves as the manager of several investment funds. Further, Bayshore will occasionally act as a sub-advisor, managing accounts for clients of other firms.
Bayshore Capital Advisors Investment Philosophy
Bayshore Capital Advisors prefers a strategic and active investing approach when it comes to helping its clients cultivate wealth. For each client, the firm will first determine investment goals, then develop a portfolio that accomplishes a mix of four goals: increase returns, generate income, protect against inflation and reduce risk.
The firm places a great deal of importance on constantly evaluating risk, both when providing investment advice to individual clients and when managing investment funds. The firm also often recommends alternative investments such as real estate, private debt and hedge funds, in addition to investments found in public markets.
Formed in 2013, Brightwater Advisory is the second-youngest financial advisor firm on our list. There are just two advisors at Brightwater, who manage more than 200 client accounts totaling around $177 million assets under management.
Like Sutton Wealth Advisors, Brightwater has no specified asset minimum. The fee-based firm offers investment management, financial planning and consulting.
Brightwater Advisory Background
In 2013, David Maddux and Kathleen Maddux formed Brightwater Advisory and remains the sole owners. David serves as the CEO. He started his career at Morgan Stanley-Smith Barney over 18 years ago.
Kathleen serves as the chief financial officer and is a former speech-language pathologist. She’s responsible for the operational management of Brightwater Advisory.
Robert Garey, Ph.D. is the senior investment advisor and chief compliance officer of the firm. He has over 30 years experience in investment services and previously owned his own fee-only firm before merging with Brightwater.
Brightwater Advisory Investment Philosophy
Brightwater operates on a core philosophy of “finding value opportunities, both relative and absolute, under all market conditions, while still embracing the simplest and basic concept of risk reduction - diversification.” That means your portfolio will be broadly diversified. Your portfolio is invested based on what you state your needs are in areas such as cash flow, risk, growth and time horizon. The company does use model portfolios for each investment strategy.
Your Brightwater advisor will generally allocate your assets among various mutual funds, exchange-traded funds (ETFs), individual debt and equity securities, and/or certificates of deposit depending on your stated investment goals.
Rutherford Asset Planning
Rutherford Asset Planning, Inc. is the sole fee-only firm on our list. This means they earn money solely through management fees, and do not earn commissions and fees from selling insurance or other financial products to clients. This eliminates any potential conflicts of interest.
Rutherford Asset is also the most exclusive firm on the list by far, with an asset minimum of $1,000,000, and high-net-worth individuals make up half of the firm’s client base. Rutherford Asset Planning has two advisors and has more than $168 million assets under management.
Rutherford Asset Planning Background
Ronald Rutherford founded the firm in 1986 after working for IBM. He is a certified financial planner (CFP), certified investment management analyst (CIMA) and has an MBA from NYU as well as a Master of Science in Engineering from the University of Oklahoma. He owns the firm along with Suzzette Rutherford, president, and Keith Amburgey, CEO and chief compliance officer.
Suzzette Rutherford also worked at IBM before starting the firm in 1986. She is a CFP, has an MBA from NYU and a Juris Doctor degree from Brooklyn School of Law. She was admitted to practice law in New York, Florida, Pennsylvania, Connecticut and New Jersey.
The CEO, Keith Amburgey has an MBA from Rutgers and is a CFP and a certified financial analyst (CFA). He spent 18 years on Wall Street and served as a COO for Morgan Stanley Derivative products.
Rutherford Asset Planning Portfolio Design
Your portfolio at this firm will balance risk and reward and seek sustainable growth as well as create income streams. To begin, your advisor will take time to understand your personal and financial situation to create a strategy that will help you achieve your desired wealth potential. Your advisor will consider your income and expenses as well as insurance concerns when developing your portfolio. Tax considerations and cash flow requirements will factor in as well.
Rutherford Asset Planning advisors “manage both risk and return goals,” taking “no more risk than necessary to achieve a given target rate of return.” Advisors use fundamental analysis, technical analysis, quantitative analysis and qualitative analysis when considering securities as investments.
This fee-based firm is the youngest firm out of those we researched in Tampa, having formed in 2018. The firm has just over 400 clients, the overwhelming majority of them being non-high-net-worth individuals, adding to $104 million in assets under management.
Truadvice has six advisors and doesn’t impose a minimum asset amount, similar to Brightwater Advisory.
Truadvice, LLC Background
Truadvice, LLC was founded in 2018. The principal owner is a company called CS Sleight, Inc., and Michael Sorrentino is also an owner.
The firm offers asset management services and financial planning services, covering cash flow, tax and insurance analysis, estate planning and retirement planning. In some cases, the firm will also engage in sub-adviser management services, in which clients use third-party money managers at the recommendation of the firm.
Truadvice, LLC Investment Philosophy
Truadvice advisors tend to prefer a “buy and hold” approach as opposed to an active trading strategy when it comes to investing. The firm will discuss each client’s investment objectives, risk tolerance and cash flow needs, then develop a target asset allocation that aligns with those preferences.
When analyzing investment options, the firm uses a mix of fundamental analysis and technical analysis. Fundamental analysis involves attempting to ascertain the intrinsic value of a company or security through economic and financial research. Technical analysis is the use of statistics like past prices and volumes to suggest future activity.