Top Financial Advisor Firms in Texas

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The top 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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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 ranked 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 their 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 both the highest-ranked Dallas firm on this list and the highest-ranked fee-only firm. Additionally, it earned the top 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 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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The fifth 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. 

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Southern Wealth Management, LLP is a Dallas-based firm providing financial advice on a fee-based model. In addition to fees, advisors may earn commissions from selling securities and insurance products. The firm is still a fiduciary, though, and it must act in the best interests of its clients.

The firm, which has 13 advisors on staff, almost exclusively serves high-net-worth individuals. The advisory team includes 12 certified public accountants (CPAs), eight certified financial planners (CFPs), two chartered financial analysts (CFAs), two chartered advisors in philanthropy (CAPs), two personal financial specialists (PFSs) and three certified investment management analysts (CIMAs). In addition to high-net-worth individuals, the firm also advises some charitable organizations and other corporations. A minimum investment of $1 million is required to work with this firm.

Southern Wealth Management, LLP Background

Southern Wealth Management, LLP was founded in 2005. It is primarily owned by Richard Jones, Thomas Gile and Michael Olson. All three work at the firm as partners. The firm recently purchased Capital Plan, a Dallas-based insurance agency. The merged firms will continue to operate under the Southern Wealth Management name.

Services offered by the firm include investment strategy, portfolio management, estate planning, financial planning, accounting, taxes preparation and compliance, business valuation and consulting services.

Southern Wealth Management, LLP Investing Strategy

Southern Wealth Management believes in using personal discussion and communication to formulate a plan for each client. From there, a portfolio strategy is put forward that will help clients meet their goals while staying within their preferred investing parameters.

Investments may include individual equities, bonds, other investment products and no-load and load-waived mutual funds. Mutual fund selection is based on past performance, manager style,  investment objectives and fee structure.

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Paul Comstock Partners is a Houston-based, fee-only financial advisor firm with more than $2.2 billion in assets under management. The firm has seven advisors on staff, including one chartered financial analyst (CFA).

The firm requires a minimum investment of $5 million, which is the second-highest account minimum on this list. That high investment floor means that the firm only advises high-net-worth individuals. The firm also does some business with institutional clients, namely charitable organizations.

Paul Comstock Partners Background

Paul Comstock founded the firm in 1983. It remains family-owned to this day. Alison Comstock Moss is the firm’s majority owner and Paul Comstock is a minority owner. Comstock Moss works at the firm as chairman and CEO, while Paul Comstock is a director and relationship manager.

Services offered by the firm include strategic planning, investment services, asset allocation, cash flow planning, succession management and lifestyle management.

Paul Comstock Partners Investing Strategy

Paul Comstock Partners has just one investment strategy: long-term holdings for building wealth. The firm also believes in creating a diversified portfolio made up of high-quality assets. The investments typically used in client portfolios include equity securities, real estate and other assets.

The firm notes that it understands that government policies and other pressures may not always create an ideal situation for building portfolio value. It responds to this by emphasizing the need for a safe reserve of liquid assets.

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Legacy One Financial Advisors, LLC is a fee-based firm based in Austin that works with mostly individual clients. The firm does, however, maintain advisory relationships with high-net-worth individuals, businesses, retirement plans and charitable organizations too. There is no minimum investment needed to become a client of Legacy One.

Despite being the tenth-place firm on this list, Legacy One has nearly $2 billion in assets under management. There's a solid number of advisory certifications at the firm as well. In fact, it includes four certified financial planners (CFPs), one chartered financial consultant (ChFC), one chartered life underwriter (CLU) and one certified public accountant (CPA).

Some of the advisors at Legacy One can earn commissions for the sale of insurance products to clients. Although this represents a possible conflict of interest, the firm is bound by fiduciary duty to act in your best interest at all times.

Legacy One Financial Advisors, LLC Background

Managing partners Kevin Lange and Bert Foster co-founded Legacy One Financial Advisors in 2017. Today, the firm is under the ownership of AustinFP, Inc., a Texas holding company. AustinFP's principal owner is Kevin Lange.

Wealth management is the primary offering of Legacy One, and it can be had as either a discretionary or non-discretionary service. This is a holistic service, as it takes into account investment portfolio creation and management, financial planning and consulting.

Legacy One Financial Advisors, LLC Investing Strategy

Although Legacy One's team will look to shape your portfolio based on your specific risk tolerance, time horizon and investment goals, the firm does prefer a long-term approach. Because of this, the securities that are added to your portfolio will likely remain there for a year or more. Your advisor will rebalance your portfolio as needed to ensure your asset allocation stays intact. This, along with a possible need for liquidity, could induce the firm to make the occasional short-term investment decision.

Legacy One has a clearly defined set of normal investment types that it uses to fill clients' portfolios. More specifically, this refers to exchange-traded funds (ETFs), individual debt and equity securities, mutual funds, alternative investments, options and anything else deemed appropriate.