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 city. 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||Jaffetilchin Investment Partners Find an Advisor||$548,577,200|| |
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|2||Platinum Wealth Partners Find an Advisor||$ 523,698,300|| |
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|3||Wealth Advisors of Tampa Bay Find an Advisor||$220,809,200|| |
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|4||Sutton Wealth Advisors Find an Advisor||$180,065,200|| |
No specified minimum
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No specified minimum
|5||Brightwater Advisory Find an Advisor||$165,354,300|| |
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|6||Rutherford Asset Planning Find an Advisor||$151,104,500|| |
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|7||Grand Central Investment Group Find an Advisor||$119,970,600|| |
Minimum annual fee $1,500
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Minimum annual fee $1,500
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 seven firms are arranged from most assets managed to least.
Jaffetilchin Investment Partners
Our No. 1 advisor in Tampa, Florida is Jaffetilchin Investment Partners, a firm that has more than $548 million assets under management. The firm manages more than 600 accounts across 39 states and Canada. Jaffetilchin primarily works with clients with assets below the high-net-worth threshold ($1.5 million). You’ll need $25,000 to start a relationship with the company.
Jaffetilchin employs 18 advisors and has a fee-based compensation structure. That means your advisor can earn money from selling you products such as insurance and mutual funds. However, the firm is still considered a fiduciary, which means your interests are required to come first.
Jaffetilchin Investment Partners Background
Louis Tilchin and Scott Jaffe founded the financial advisory in 2007 and remain the sole owners of the firm. Tilchin got his start at Prudential Insurance. In 1994, he founded Tilchin Financial, providing investment advising and insurance to his clients. In 2007, Tilchin merged with Scott Jaffe. Jaffe has a master’s degree in finance from Penn State University and has worked in the financial sector for over 31 years. Prior to founding Jaffetilchin, he worked at Smith Barney and Prudential.
The team has grown to almost 40 total employees: two employees are certified financial planners (CFPs) and two are chartered financial consultants (ChFC). Unlike many financial advisory firms, Jaffetilchin doesn’t have any certified public accountants (CPAs) or certified financial analysts (CFAs) on staff.
Jaffetilchin Investment Partners Investment Strategy
As a client of Jaffetilchin, you might find your advisor recommending that your assets be placed in a model portfolio. The company materials don’t offer a detailed list of what portfolios are available, but in general terms, model portfolios are built around specific risk tolerances and cash needs. Your financial goals and objectives may be similar to other clients. If so, your assets may be grouped together in similar investments.
Jaffetilchin uses fundamental and cyclical analysis to evaluate investments. The company uses long-term and short-term purchases and sales, margin, trading and other investment strategies.
Platinum Wealth Partners
Platinum Wealth Partners comes in second on our top Tampa advisors list, managing more than $523 million. 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.
This is the largest firm on the list. PWP manages upward of 1,200 accounts and has 24 advisors on staff. The only other firm with total advisors in the double digits is Jaffetilchin Investment Partners, No. 1 on this list.
You’ll need at least $150,000 to become a client of the firm, the second-highest required asset minimum after Rutherford Asset Management (No. 6). PWP has offices in Tampa, Florida and Scottsdale, Arizona.
Platinum Wealth Partners Background
David Potter founded the firm in 2005. He’s a man of many hats: Porter serves as the chief compliance officer, chief financial officer, chief legal officer, COO and CEO, according to Platinum Wealth Partner’s Form ADV. Unsurprisingly, he’s also the sole owner of the firm.
Potter’s a certified financial analyst (CFA) and has more than 20 years in the financial industry. Prior to starting his business, he worked as an accountant. Porter isn’t just a numbers man, he’s also in the final stages of completing a book on emotional investing.
Alan Rosenfield is PWP’s chief investment officer. He brings more than 34 years of securities experience to the table, having spent time as a chief investment officer and managing director at Harmony.
Platinum Wealth Partners Investment Management Style
According to Rosenfield, PWP “focuses on fundamentals when analyzing investments utilizing a GARP (Growth at a Reasonable Price) style.” This means portfolios will have stocks and bonds as well as ETFs and mutual funds. Potter, a proponent of removing emotion and prediction from investment management, advocates a rules-based approach which utilizes a screening process to “select investments that match a client’s risk profile and long-term objectives.” This means your advisor will build your portfolio based on your specific goals and risk tolerance, with a heavy emphasis on disciplined analysis.
Wealth Advisors of Tampa Bay
Founded in 2012, Wealth Advisors of Tampa Bay is the third-youngest financial advisor firm on this list. Six employees make this firm the third-largest by employee size.
The company manages more than 200 accounts and has the highest percentage of high-net-worth-clients out of the Tampa advisors we considered. However, the minimum assets required are $100,000, which is less than the $150,000 Platinum Wealth Partners requires, or the $1,000,000 that Rutherford Asset Management requires.
Wealth Advisors of Tampa Bay manages less than half the amount of assets than Platinum Wealth Partners, with $220 million under management compared to PWP’s $523 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 over 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. He serves as the chief financial officer and senior portfolio manager and has over 25 years experience in investments and insurance. Martin is a certified financial planner (CFP).
Robert F. Giles III owns a small portion of the company and serves as a wealth advisor. He’s also a CFP and serves on the Wealth Advisors of Tampa Bay’s investment committee. The firm has one CFP but no certified public accountants (CPAs) or certified financial analysts (CFAs).
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, cyclical analysis, a form of technical analysis is the measurement of a stock against the market as a whole to try to predict price movement.
Sutton Wealth Advisors
Sutton Wealth Advisors is the first Tampa firm to not have a specified client asset requirement. This doesn’t mean just anyone should open any account, however; while the firm states there is no minimum amount, a caveat is added: “we have the right to terminate your account if it falls below a minimum size which, in our sole opinion, is too small to effectively manage.” About one-third to one-half of the firm’s 161 accounts are owned by a high-net-worth clients.
The company has three advisors and is also fee-based, the fee structure that the top 3 firms on this list also follow. Fee-based firms make money through management fees as well as through commissions for selling products such as insurance.
Sutton Wealth Advisors Background
Wallace Sutton is founder, sole owner, president and chief compliance officer of this small firm. He is a fifth-generation Tampa resident and has been involved in the securities and investment industry since 1984.
The firm also employs William Hussey, certified financial planner (CFP) and Linda Kocher, registered paraplanner (RP). Kocher has worked for Sutton Wealth since 1996 and Hussey has provided financial planning services to clients since 2002.
Sutton Wealth Advisors Investment Strategy
This firm is a follower of modern portfolio theory. This Noble Prize-winning investment strategy involves maximizing portfolio expected return for a given amount of risk by diversifying the proportions of various assets. Generally this translates to a global portfolio that’s diversified across asset classes.
To decide which securities to invest in, advisors at Sutton Wealth will use charting analysis, technical analysis, fundamental analysis and cyclical analysis. Each of these methods is used to evaluate certain aspects of the security and market condition.
When you begin a relationship with Sutton Wealth, one of the first discussions you’ll have is about your investment objectives, risk tolerance and financial situation. Your answers help your advisors to build a portfolio strategy tailored to your situation or helps identify a model portfolio (pre-built by the firm) that fits your needs. Your assets will be managed in one of those two ways.
Formed in 2013, Brightwater Advisory is the second-youngest financial advisor firm on our list. Just two employees work at Brightwater, tying it with two other firms as the smallest in our top seven. Those two advisors manage more than 100 client accounts totaling $165 million assets under management.
Like Sutton Wealth Management, 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 to support that statement. 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
This is the first fee-only firm on our list. Fee-only is a harder compensation strategy to meet than fee-based (which includes earning commissions and fees from selling insurance products and mutual funds to clients). Fee-only firms earn money solely through management fees.
Rutherford Asset is also the most exclusive firm on the list with an asset minimum of $1,000,000. It’s no wonder that the majority of the firm’s clients are considered high-net-worth individuals. The second-highest minimum on our Tampa list is $150,000 at Platinum Wealth Partners.
Rutherford Asset Planning has two advisors and has more than $151 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, is no less impressive than the Rutherfords. He 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. Additionally, 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.
Grand Central Investment Group
This fee-based firm is the youngest firm out of those we researched in Tampa, having formed in 2014. While Grand Central Investment Group has no required minimum asset amount, the minimum annual fee is $1,500, so it makes the most sense to engage services when you have at least $75,000 to invest. Grand Central manages $119 million assets and has more than 300 client accounts.
The firm has four advisors and offers portfolio management, financial planning and consulting.
Grand Central Investment Group Background
Stephen Bunch and Frank Cooper formed the firm in 2014. Cooper is the sole owner of Grand Central Investment Group and serves as CEO. He got his financial services start working in personal investments in 1969. Bunch serves as the chief finance officer and is a certified public accountant (CPA). This is the first Tampa-based firm with a CPA on staff. Usually, it’s very common to find former CPAs at wealth management firms.
Charles Poe is the chief investment officer. He is a certified financial analyst (CFA) and has an MBA from an international business program in Spain. Poe has worked in the investment business since 1995.
Michelle Halpin, chief compliance officer, has more than 38 years of experience in the investment industry.
Grand Central Investment Group Investment Philosophy
This firm considers itself a top-down manager. This means advisors look at the economy as a whole before looking at its components. Grand Central advisors use fundamental analysis for the initial method of reviewing securities. As a whole, the firm follows James P. O’Shaughnessy’s investment theory of potential indicators of enhanced potential returns. These indicators include financial strength ratios, price-to-earnings ratios, price-to-sale ratios, price-to-cash flow rates, dividend growth history, growth rate-to-price earnings and dividend yields.
The firm also follows the stocks that certain high-performing hedge fund and mutual fund managers own, believing why reinvent the wheel when you can find those with above-average track records and follow their lead.
Your portfolio at Grand Central will be placed in a foundation of “dividend-paying equities” and may include stocks, ETFs, closed-end funds or mutual funds.