Finding a Top Financial Advisor Firm in Tampa, Florida
There are a lot of options for financial advice and investment management - including national financial institutions, robo-advisors and all of the firms in your area - so it can be tough to figure out who would best suit your financial situation and goals. That’s where SmartAsset comes in. We researched the financial advisors based in Tampa, Florida to identify the top options. If you're having trouble deciding, try SmartAsset's financial advisor matching tool, which connects you with as many as three advisors in your area.
|Rank||Financial Advisor||Assets Managed||Minimum Assets||Financial Services||More Information|
|1||Suncoast Equity Management, LLC Find an Advisor||$583,486,835||$250,000|| || |
|2||PSI Advisors, LLC Find an Advisor||$354,561,511||No set account minimum|| || |
Minimum AssetsNo set account minimum
|3||Bayshore Capital Advisors, LLC Find an Advisor||$280,950,730||$20,000,000|| || |
|4||Wealth Advisors of Tampa Bay Find an Advisor||$237,795,088||Varies based on account type|| || |
Minimum AssetsVaries based on account type
|5||Brightwater Advisory, LLC Find an Advisor||$184,042,035||No set account minimum|| || |
Minimum AssetsNo set account minimum
|6||Rutherford Asset Planning Find an Advisor||$139,704,164||$1,000,000|| || |
How We Found the Top Financial Advisor Firms in Tampa, Florida
For this list, we only considered firms that are registered with the U.S. Securities and Exchange Commission (SEC) and based in Tampa. 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. All information is accurate as of the writing of this article.
Suncoast Equity Management, LLC
Suncoast Equity Management, LLC is a financial advisor firm largely focused on individual clients. In fact, over 90% of its client base falls into the categories of either high-net-worth or non-high-net-worth individuals. Other common clients of the firm include pension and profit-sharing plans, partnerships, endowments, unified managed accounts (UMAs), businesses and charitable organizations. New clients must have a minimum of $250,000 in investable assets, though this requirement is waivable.
Investment management is the main offering at Suncoast, as it features investment portfolio customization for clients. Financial planning services include, but are not limited to, investment planning, education fund planning, retirement planning and more.
This is a fee-only firm, so all of its compensation comes from client-paid fees.
Suncoast Equity Management, LLC Background
Suncoast Equity Management has been in business since 1998 when it was founded by Donald R. Jowdy. Today, Jowdy is the firm's principal owner, CEO and chief investment officer. The rest of management team includes president Daniel T. McNichol and Amy A. Lord.
The advisory team at this firm includes one certified financial planner (CFP) and one chartered financial analyst (CFA).
Suncoast Equity Management, LLC Investment Strategy
As its name states, Suncoast Equity Management is a big believer in investing client assets heavily in large-cap equities. When selecting stocks to invest in, the firm looks for securities that are favorably priced rather than trying to "forecast or outsmart daily stock market movements," according to its website. Furthermore, the firm prefers to hone in on what specifically makes an individual company attractive to invest in rather than solely looking at price movements.
Despite its affinity for stocks, Suncoast is willing to invest in other types of securities as well. These include government securities, fixed-income securities and mutual funds. Specific investments are chosen based on the client's risk tolerance, time horizon and financial goals.
PSI Advisors, LLC
PSI Advisors, LLC comes in second on our list. The firm has more than 1,300 clients, with the vast majority of them being non-high-net-worth individuals. Other typical clients of the firm include high-net-worth individuals and businesses. There is no minimum account size at PSI.
This firm is fee-based. That means that certain on-staff advisors here can sell insurance products or securities on a separate commission basis. Despite the potential conflict of interest this creates, the firm is bound by fiduciary duty to act in clients' best interests.
PSI Advisors, LLC Background
Eric Damien Eaton founded PSI Advisors in 2016, making it one of the youngest firms on this list. However, Eaton has been providing financial advice to clients for more than 20 years. Eaton is the sole owner of PSI Advisors.
The firm provides financial planning services including investment planning, retirement planning, college planning, debt/credit planning, insurance planning and tax planning. Additionally, the firm provides consulting services to pension plans and other employee-sponsored benefit plans.
PSI Advisors, LLC 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. Then, once your investment plan is implemented, the firm will work to constantly update it to meet your changing needs.
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. However, the firm is willing to waive this requirement under certain circumstances. Among the firm’s team of advisors are three certified public accountants (CPAs), two chartered financial analysts (CFAs), two chartered alternative investment analysts (CAIAs) and one certified financial planner (CFP).
Despite Bayshore’s high account minimum, it does work with some non-high-net-worth individuals in addition to its high-net-worth clients. It also manages the assets of a few pooled investment vehicles, charitable organizations, other investment advisors and businesses. Bayshore Capital Advisors is a fee-only firm, meaning it earns income only from clients.
Bayshore Capital Advisors Background
Bayshore Capital Advisors was founded in 2001 by Tready Smith, who also acts as CEO and owns 90% of the firm. The other 10% is owned by the firm’s managing partner and senior advisor, Thayer Smith.
The firm provides investment supervisory services to individual clients and also serves as the manager of several of its own investment funds. Further, Bayshore will occasionally act as a sub-advisor, managing accounts for other firms. Bayshore also offers some financial planning services, such as estate planning, insurance selection and more.
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. Most of these funds belong to the firm itself, so many of the investments that the firm makes are completed through them.
Wealth Advisors of Tampa Bay
Wealth Advisors of Tampa Bay works almost entirely with high-net-worth and non-high-net-worth individuals. A few pension and profit-sharing plans, charitable organizations and businesses round out its client base. To take advantage of this firm's investment management services, you'll need to have at least $100,000 in investable assets and be able to adhere to a minimum annual fee of $1,250. For financial planning services, the minimum fee is $800.
If you're looking for a combination of investment and financial planning services, you'll find that through this firm's wealth management offering. Other services available on a stand-alone basis include investment management, retirement planning, insurance services, estate planning, wealth transfer planning, trust services and more.
This is a fee-based firm. As a result, some of the firm's advisors can sell securities and insurance products on a commission basis. While this creates a potential conflict of interest, the firm is legally bound by fiduciary duty to act in clients' best interests at all times.
Wealth Advisors of Tampa Bay Background
Wealth Advisors of Tampa Bay was established back in 2012. Robert F. Giles, Jr., president and chief investment officer (CIO), is the founder and primary owner of the firm. Robert F. Giles III, a wealth advisor at the firm, is a minority owner. Giles, Jr. has more than 35 years of experience in the financial services industry, while Giles III has 17 years of experience to his name.
Prospective clients of this firm will find a number of certifications across the advisory staff. More specifically, these include one certified investment management analyst (CIMA), one certified financial planner (CFP), one chartered alternative investment analyst (CAIA) and one chartered retirement planning counselor (CRPC).
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.
Brightwater Advisory, LLC
Formed in 2013, Brightwater Advisory, LLC is one of the youngest financial advisor firms on our list. The firm has around 200 clients, most of whom are individuals with less than a high net worth. The firm also works with high-net-worth individuals, as well as some institutional clients, such as businesses and charitable organizations. Brightwater has no specified asset minimum for new clients.
This fee-only firm offers investment management, financial planning and consulting. Its fee-only status means that all of its compensation comes from management fees that clients pay directly.
Brightwater Advisory, LLC Background
In 2013, David Maddux and Kathleen Maddux founded Brightwater Advisory. Today, the duo remains the sole owners of the firm. David Maddux serves as CEO and chief investment officer (CIO), and he started his career at Morgan Stanley-Smith Barney over 20 years ago. Kathleen Maddux serves as chief financial officer (CFO) and is a former speech-language pathologist. She’s responsible for the operational management of Brightwater Advisory.
This firm has one certified financial planner (CFP) on staff.
Brightwater Advisory, LLC 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 one of the only fee-only firms on this list. That means they earn money solely through management fees paid by clients, and therefore do not earn commissions from selling insurance or other financial products.
Rutherford Asset Planning is also one of the most exclusive firms on this list, with a minimum investable asset requirement of $1 million. Despite this, the firm's client base is comprised of roughly half high-net-worth individuals and half non-high-net-worth individuals. The firm offers services like wealth management, estate planning, philanthropic planning, tax planning, insurance planning and cash flow analysis.
Rutherford Asset Planning Background
Ronald Rutherford founded Rutherford Asset Planning in 1986 after working for IBM. Today, he remains a member of the firm's board of directors. Ronald Rutherford, firm president Suzzette Rutherford and CEO and chief compliance officer (CCO) Keith Amburgey all combine to own the firm.
The advisory staff at this firm includes two certified financial planners (CFPs), one certified investment management analyst (CIMA), one chartered financial analyst (CFA) and one enrolled agent (EA).
Rutherford Asset Planning Investment 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.