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||Jaffetilchin Investment Partners Find an Advisor||$697,504,343|| |
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|2||PSI Advisors, LLC Find an Advisor||$323,291,106||No minimum|| || |
Minimum AssetsNo minimum
|3||Wealth Advisors of Tampa Bay Find an Advisor||$272,618,508|| |
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|4||Sutton Wealth Advisors Find an Advisor||$228,057,787|| |
No specified minimum
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No specified minimum
|5||Brightwater Advisory Find an Advisor||$176,708,743|| |
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|6||Rutherford Asset Planning Find an Advisor||$168,879,749|| |
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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.
Jaffetilchin Investment Partners
Our No. 1 advisor in Tampa, Florida is Jaffetilchin Investment Partners, a firm that has more than $697 million assets under management. The firm manages roughly 675 accounts, and it primarily works with clients with assets below the high-net-worth threshold ($1 million in investable assets). You’ll need $25,000 to start a relationship with the company.
Jaffetilchin employs 18 advisors and has a fee-based compensation structure, which is different from a fee-only advisor. It means your advisor can earn money from selling you products such as insurance and mutual funds, which presents a possible conflict of interest. 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 25 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.
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 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, they use cyclical analysis, which involves the measurement of a stock against the market as a whole to try to predict price movement.
Sutton Wealth Advisors
Like PSI Advisors, Sutton Wealth Advisors does not have a specified client asset requirement. This doesn’t mean just anyone can open an 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.” Just under one third of the firm’s 174 clients are high-net-worth clients.
The company has three advisors and is also fee-based, the fee structure that the top three 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, a 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 Nobel Prize-winning investment strategy involves maximizing a portfolio's 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. Based on your answers, the advisors will either build a custom portfolio strategy tailored to your situation, or 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. 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.