Top Financial Advisor Firms in Texas

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Crow Holdings Capital (CHC) is easily the largest firm on this list with just about $12.7 billion in assets under management (AUM). The firm is intently focused on working with high-net-worth individuals and pooled investment vehicles. In turn, new clients of Crow Holdings must have a minimum of $40 million ready to invest. The fee-only firm is based out of Dallas.

Crow Holdings Capital is divided up into two different sections: Crow Holdings Capital Investment Partners and Crow Holdings Capital Real Estate. As its title indicates, the real estate half of Crow Holdings is built around the asset management of private equity real estate funds. On the other hand, CHC Investment Partners is an investment manager for ultra-wealthy families and individuals.

The 107-member advisory staff at Crow Holdings Capital features nine certified public accountants (CPAs) and one chartered financial analyst (CFA).

Crow Holdings Capital Background

Founded in just 2011, Crow Holdings Capital rose to its $12 billion size in a relatively short time frame. The firm is owned by Crow Family Holdings, a large Texas-based holding company. Although Crow Family Holdings is the principal owner, CHC indicates that it is a passive owner, and therefore has no direct control over its day-to-day operations.

As far as individual services go, Crow Holdings Capital offers investment advisory, financial planning, family office, consulting and non-advisory services.

Crow Holdings Capital Client Experience

CHC maintains a few principles in each of its individual advisory relationships: a cooperative approach, investment confidence, a family perspective and best-in-class service. This four-pronged approach is described as follows:

• Cooperative approach - CHC looks to internally combine its employees' strengths to provide strong investment advice for its clients. This could include the use of industry contacts, any relevant pricing advantages and combined financial power to find unique investment opportunities.
• Investment confidence - There are three main tenets to CHC's investment philosophy: ample diversification, capital preservation capabilities and capital growth considerations.
• Family perspective - CHC has a history of managing large family funds, which it claims has afforded it unique insights into the nuances surrounding such a complex financial undertaking.
• Best-in-class service - Through CHC, clients will gain access to the firm's tax, estate planning, legal and other professionals that can help provide deeper insights.

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The second firm on our list is Avalon Advisors LLC, with more than $6.5 billion in assets under management. The Houston-based firm also ranks first on SmartAsset’s list of the top 10 Houston financial advisor firms. It has 39 advisors on staff, including one certified financial planner (CFP), 10 chartered financial analysts (CFAs) and one certified public accountant (CPA).

Most of the firm’s individual clients are high-net-worth individuals, though it does do business with non-high-net-worth individuals as well. This makes sense since the firm requires a minimum investment of $10 million, the highest account minimum on this list. The firm also advises pension plans, charitable organizations, other investment advisors, insurance companies and corporations.

The firm is fee-based, meaning that in addition to fees, its investment employees sometimes earn commissions from selling certain financial products. However, the company does not subject that money to investment fees. The firm is still a fiduciary and must make decisions in the best interests of its clients.

Avalon Advisors, LLC Background

Avalon Advisors, LLC was founded in 2001. It is owned by a mix of employees and outside investors, including The Cynosure Group, a firm based in Salt Lake City that works with family offices. No one person or company owns more than 25% of Avalon. In addition to its office in Houston, the company also has a location in San Antonio.

The basic services offered by the firm include wealth management and investment management. It also publishes monthly notes and yearly commentaries on market trends and general financial topics.

Avalon Advisors, LLC  Investing Strategy

Avalon Advisors offers a large number of investing strategies, which are broken down into six main categories:

• Equity
• Tactical
• Fixed income
• Cash management
• Private equity
• Hedge funds

Within each strategy the advisors aim for smart asset allocations that will set up clients for financial success. Asset allocations are determined through a four-step process: overview, review, assessment and analysis.

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Third-ranked Tolleson Private Wealth Management is a fee-only firm that does business in Dallas. With 55 financial advisors and $5.6 billion in assets under management, Tolleson is one of the largest firms in Texas. Clients will find a plethora of advisory certifications across the team at Tolleson, including four certified financial planners (CFPs), six certified public accountants (CPAs), two certified private wealth advisors (CPWAs), two chartered financial analysts (CFAs), one personal financial specialist (PFS) and one certified investment management analyst (CIMA).

Around 90% of Tolleson's client base is comprised of high-net-worth individuals. The firm does work with some institutions as well, like estates, trusts, foundations, funds, banks and a philanthropic trust. To become a client of Tolleson, a $10 million minimum investment is needed.

Tolleson Private Wealth Management Background

Tolleson Private Wealth Management executive chairman John C. Tolleson founded the firm in 1997. He decided to open it following his retirement from First USA, a retail banking and financial services company that he also founded and grew into a multi-billion dollar public corporation. In total, John Tolleson has 51 years' experience in finance.

While financial planning and strategic wealth management are integral offerings at Tolleson, the firm typically utilizes an investment-first strategy to achieve clients' goals. This involves a breadth of various services, such as investment strategy development, asset allocation determination, performance monitoring, consulting and third-party investment manager analysis.

Tolleson Private Wealth Management Investing Strategy

The opening step in any advisor-client relationship at Tolleson Private Wealth Management is a complete review of your needs, which culminates in the creation of an investment policy statement. This all-important document will eventually help to inform the asset allocation of your portfolio, as it details your risk tolerance, income or liquidity requirements, investment goals and more.

What's unique about Tolleson's advisory process is that, in addition to your original investment policy statement, the firm will develop another allocation plan that's based entirely on fixed-income securities. It does this in case you suddenly would prefer a safer, bond-centric strategy. Beyond this, Tolleson invests in stocks, options, mutual funds and alternative investments, too.

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Money Matters With Ken Moraif is a fee-based firm located in the Dallas suburb of Plano. In addition to client fees, advisors at the firm may earn commissions from selling insurance products. They are still bound by fiduciary duty, though, requiring them to always act in the best interest of the client.

Money Matters, which is first on SmartAsset’s list of the top financial advisor firms in Plano, has more than $4.1 billion in assets under management. Its team has 35 advisors. That includes 20 certified financial planners (CFPs), two certified public accountants (CPAs), two chartered financial consultants (ChFCs), five chartered retirement planning counselors (CRPCs), two retirement income certified professionals (RICPs) and six registered financial consultants (RFCs).

Upwards of 99% of the firm’s business comes from individual accounts, though it also manages money for high-net-worth individuals. The firm also provides advice for corporations and pension plans. It has no set account minimum, but some individual advisors may have one.

Money Matters With Ken Moraif Background

Money Matters With Ken Moraif was founded in 2011. The principal owners of the firm are Kenneth A. Moraif, Clark C. Hatton, Charles D. Dyer, Jr., Elias R. Dragon and Douglas M. Bartol, all of whom work at the firm as senior advisors.

The firm’s services include financial planning, investment management, retirement advice, family legacy planning, Medicare and long-term planning, income tax planning and education. Ken Moraif hosts a radio show that airs in Phoenix, Los Angeles, Austin, Dallas and Houston. The firm also offers seminars.

Money Matters With Ken Moraif Investing Strategy

Money Matters designs a personalized portfolio for each client based on his or her financial situation and investment preferences. It meets frequently with clients to go over results and check in on goals. The firm rebalances portfolios each quarter to cut down on volatility. 

Investments include mutual funds, fixed annuities, variable annuities, insurance products, ETFs and individual securities. The firm has both buy and sell strategies. 

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RGT Wealth Advisors is a fee-only firm based in Dallas, making it the third-ranked Dallas firm on this list. Additionally, it earned the third spot on SmartAsset’s list of the top 10 Dallas financial advisor firms. It has more than $4 billion in assets under management. 

The firm has 34 advisors and a Texas-sized group of certifications. That includes 16 certified financial planners (CFPs), one certified trust and financial advisor (CTFA), six certified public accountants (CPAs), two certified divorce financial analysts (CDFAs), one chartered financial consultant (ChFC), one accredited portfolio management advisor (APMA) and nine chartered financial analysts (CFAs).

The firm requires a $3 million minimum investment. This high barrier might contribute to the majority of its business coming from high-net-worth clients. The firm also advises individuals, pension plans and charitable organizations.

RGT Wealth Advisors Background

RGT Wealth Advisors was founded in 1985. It is owned by its 16 managing directors. Originally founded as a tax accounting company, its services have evolved over the years into the more robust advising service it is today.

The firm’s services include:

• Investment management
• Estate planning
• Wealth transfer
• Education and goal-oriented planning
• Life and disability insurance consulting
• Personal budgeting
• Cash flow
• Business investment planning
• Business succession planning

RGT Wealth Advisors Investing Strategy

RGT Wealth Advisors says it approaches its clients not just as advisors but as “partners.” It thinks about wealth holistically, as it considers both its clients’ portfolio and non-portfolio assets and brings those together to create an overall financial plan.

Investments the firm typically uses include mutual funds, bonds, stocks, fixed income, real estate, energy, hedge funds and exchange-traded funds (ETFs). Portfolio construction tends toward long-term, diverse allocation, which the firm believes is the best way to build wealth and stability for its clients.

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The list moves to south Texas for the first time with South Texas Money Management, the first firm on SmartAsset’s list of the top financial advisor firms in San Antonio. The fee-only firm has more than $3.3 billion in assets under management and 30 advisors on staff. That includes nine chartered financial analysts (CFAs), six certified financial planners (CFPs), two certified divorce financial analysts (CDFAs), one certified public accountant (CPA) and one accredited investment fiduciary (AIF).

The firm has a $1 million minimum investment requirement. It advises a fairly even number of individual and high-net-worth individual clients. It also does business with banks, pension plans, charitable organizations, government entities and other corporations.

South Texas Money Management Background

Jeanie Wyatt founded South Texas Money Management in 2000. She still works at the firm as CEO and chief investment officer. Wyatt is also the principal owner of the firm. Barron’s Magazine named Wyatt one of the Top 100 Women Financial Advisors from 2015 to 2018.

Services offered by the firm include financial planning, asset allocation management, portfolio management and construction and annual written analyses of holdings. Wealth management is available for accounts with at least $20 million in assets under management.

South Texas Money Management Investing Strategy

The philosophy that Wyatt had when she founded the firm remains at the center of its business today. Wyatt espoused the approach of buying a mix of value and growth stocks to build a portfolio that will create wealth and security for clients. 

There are five main investment strategies employed by the firm:

• Core equity strategy: portfolios made up of individual stocks from multiple market cap ranges
• Fixed-income strategy: portfolio made up of high-rated bonds
• Concentrated holdings strategy: custom diversification strategy
• Balanced strategy: combination of core equity and fixed income strategies
• ETF solutions strategy: portfolio made up of ETFs and bond funds, for lower value accounts

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Level Four Advisory Services, a fee-only firm in Plano, has a large network of 135 advisors around the country. Outside of Texas, the firm employs advisors in Alabama, Arkansas, California, Colorado, Florida, Georgia, Illinois, Indiana, Kentucky, Louisiana, Minnesota, New Jersey, North Carolina, Oklahoma, South Carolina, Virginia and Wyoming.

There's no shortage of advisory certifications at Level Four. There are 24 certified financial planners (CFPs), 13 chartered life underwriters (CLUs), nine chartered financial consultants (ChFCs), eight chartered retirement planning counselors (CRPCs), five certified public accountants (CPAs), four accredited investment fiduciaries (AIFs).

Depending on the type of account you're trying to open, your account minimum will shift. More specifically, these requirements range between $5,000 and $250,000. Around 95% of Level Four's over 9,000 clients are individuals, with a few high-net-worth individuals sprinkled in.

Level Four Advisory Services Background

Carr, Riggs & Ingram, LLC, a CPA firm in Alabama, owns Level Four Advisory Services through Level Four Group, a financial services holding company. Level Four Advisor Services was established in 2005.

Level Four prides itself on offering a robust set of services across financial planning, asset management, business services and advisory programs sponsored by LPL Financial, an independent network of financial advisors and financial institutions that it belongs to.

Level Four Advisory Services Investing Strategy

Level Four Advisory Services has five different portfolio strategies that it has prebuilt to suit certain client archetypes. These are aggressive growth, growth, growth with income, income with moderate growth and income with capital preservation. What will ultimately lead to which strategy you're paired with is the risk tolerance that you and your advisor decide on at the dawn of your relationship. In order to satisfy this wide range of risk levels, the firm may invest in stocks, mutual funds, bonds, exchange-traded funds (ETFs) and options.

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The eighth entry on our list heads back to Houston. Linscomb and Williams is a fee-only firm with more than $2.9 million in assets under management. It has 17 advisors on staff. The company’s team includes 11 certified financial planners (CFPs), two chartered financial analysts (CFAs), seven certified public accountants (CPAs), one accredited investment fiduciary (AIF) and one accredited estate planned (AEP).

Linscomb and Williams works with mostly individual accounts, though only about one-third of its individual advising is for high-net-worth accounts. It also advises pension plans, charitable organizations and corporations. There is a $1 million account minimum.

Linscomb and Williams Background

Linscomb and Williams was founded in 1971, making it the oldest firm on this list. It is a wholly owned subsidiary of Cadence Bank. In 2005, the firm was bought by Encore Bancshares, Inc., which was in turn acquired by Cadence in 2012.

Services offered by the firm include financial planning, wealth management, charitable giving planning, employee benefits, estate planning, retirement planning, divorce financial planning, inheritance and legal settlements.

Linscomb and Williams Investing Strategy

The firm uses a mix of strategies to build wealth for clients. It uses long-term purchases, short-term purchases and a trading strategy of selling a security within 30 days of buying it. Building a personal relationship with clients is important to the firm’s advisors.

A number of investments may be used in client portfolios, including corporate debt, bonds, stocks, municipal debt, U.S. government debt and CDs. No-load mutual funds are also used when appropriate.

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RAA is an Addison-based, fee-only firm that caters to airline industry professionals. It has nearly $2.7 billion in assets under management and employs 76 advisors. Its advisory team includes 11 certified financial planners (CFPs), two certified public accountants (CPAs), five accredited investment fiduciaries (AIFs), two certified long-term cares (CLTCs), two certified investment management analysts (CIMAs), three certified retirement planning counselors (CRPCs), one chartered retirement planning specialist (CRPS) and one certified divorce financial analyst (CDFA).

The firm works with roughly twice the number of individual accounts as high-net-worth individual accounts. It also works with some institutional entities, advising a few charitable organizations and other corporations. The firm requires a minimum investment of $250,000 for most of its accounts and a $500,000 minimum for its equity/bond investment portfolios.

RAA Background

RAA was founded in 1991. It was established to provide quality investment advice to individuals who are currently or formerly in the airline industry. The firm’s primary owners are HBC Investments and John Bentley, who also serves as the president and CEO of the company.

The firm’s main services are investment management, financial planning, estate planning, survivor assistance and tax and insurance guidance. It also assists with company benefits.

RAA Investing Strategy

RAA starts by having potential clients fill out a questionnaire to see where they are in their financial lives. From there, advisors meet with the client to come up with a personalized strategy to build a portfolio that will help the client achieve their goals.

The firm has a managed account strategy that uses mutual funds, exchange-traded funds (ETFs) and other investment options. It also has an individual stocks strategy that uses large-cap equities, and an individual bonds strategy that uses fixed income vehicles.

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USCA RIA, LLC is a Houston-based financial advisor firm with more than $2.5 billion in assets under management. The firm is fee-based, meaning it may earn compensation for the sale of certain recommended investments. As is the case with every firm on this list, USCA RIA is a fiduciary and therefore must act in your best interest.

The firm has 48 advisors on staff. The team includes six certified financial planners (CFPs), one chartered financial analyst (CFA), two certified investment management analysts (CIMAs) and one chartered portfolio manager (CPM).

USCA RIA works with a mix of individuals and high-net-worth individuals, though non-high-net-worth individuals make up a majority of the firm’s clients. The firm also advises pension plans, charitable organizations, government entities and businesses. There is a $50,000 minimum investment required to open an account.

USCA RIA, LLC Background

USCA RIA, LLC was founded in 2010. Around 25% of the firm is owned by individual investors, including some employees, and the rest of the firm is reserved for ownership by employees of the firm. 

Services offered by the firm include wealth management, financial planning, asset allocation, discretionary portfolio management and alternative investments. In addition to its offices in Houston, the firm has locations in Austin and Dallas. 

USCA RIA, LLC Investing Strategy

USCA RIA, LLC uses a variety of research strategies to figure out what investments to use. This includes looking at a company’s press releases and security filings, credit analysis and performance analysis. Outside factors like market and political developments may also be considered. 

Investments used in client portfolios could include stocks, international equities, bonds, mutual funds and ETFs. The firm may also recommend municipal securities and insurance solutions.