Finding a Top Financial Advisor Firm in Texas
A financial advisor can help you plan your financial future. Finding the right financial advisor is key, though. You’ll want one whose experience and approach align with your goals and expectations. To make your search easier, SmartAsset determined the top financial advisor firms in Texas. In tables and reviews, we provide an overview of each firm’s typical clientele, fees, background and investing strategy so you can make a more informed decision. You can also try SmartAsset’s free financial advisor matching tool, which will pair you with up to three advisors in your area.
|Rank||Financial Advisor||Assets Managed||Minimum Assets||Financial Services||More Information|
|1||Avalon Investment & Advisory Find an Advisor||$8,440,689,324||$5,000,000|| || |
|2||Tolleson Private Wealth Management Find an Advisor||$6,630,904,897||$10,000,000|| || |
|3||Retirement Planners of America Find an Advisor||$4,431,534,007||No set account minimum|| || |
Minimum AssetsNo set account minimum
|4||RGT Wealth Advisors Find an Advisor||$4,335,439,040||$3,000,000|| || |
|5||Linscomb & Williams Find an Advisor||$3,844,536,498||$1,000,000|| || |
|6||TCG Advisors, LP Find an Advisor||$3,602,908,167||No set account minimum|| || |
Minimum AssetsNo set account minimum
|7||CH Investment Partners, LLC Find an Advisor||$3,575,237,572||$40,000,000|| || |
|8||Southern Wealth Management, LLP Find an Advisor||$3,118,522,059||$1,000,000|| || |
|9||Level Four Advisory Services Find an Advisor||$2,812,483,913||Varies based on account type|| || |
Minimum AssetsVaries based on account type
|10||USCA RIA, LLC Find an Advisor||$2,764,481,331||$50,000|| || |
How We Found the Top Financial Advisor Firms in Texas
We made a list of all the financial advisor first in the Lone Star State registed with the U.S. Securities and Exchange Commission (SEC). For this list, we only considered SEC-registered firms, because these firms are bound by fiduciary duty to act in clients’ best interests. From there, we eliminated any firms that had disclosures. We also nixed any firms that don’t offer financial planning or serve individual investors. Below are the top firms that made the list, sorted from highest to lowest assets under management (AUM). All information is accurate as of the writing of this article.
Avalon Investment & Advisory
The top firm on our Texas list is Avalon Investment & Advisory. The Houston-based firm also ranks on SmartAsset’s list of the top Houston financial advisor firms. It has a large team of advisors on staff, including certified financial planners (CFP) and chartered financial analysts (CFA).
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 prefers clients to have at least $5 million in assets, the highest account minimum on this list. The firm also advises pension plans, charitable organizations, other investment advisors, insurance companies, pooled investment vehicles and corporations.
The firm is fee-based, meaning that in addition to fees, its employees sometimes earn commissions for trading certain investments. The firm is still a fiduciary and must make decisions in the best interests of its clients, though.
Avalon Investment & Advisory Background
Avalon Investment & Advisory 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 Investment & Advisory Investing Strategy
Avalon Investment & Advisory offers a large number of investing strategies, which are broken down into six main categories:
- 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.
Tolleson Private Wealth Management
Tolleson Private Wealth Management is a fee-only firm that does business in Dallas. Clients will find a plethora of advisory certifications across the team at Tolleson, including certified financial planners (CFP), certified public accountants (CPA), certified private wealth advisors (CPWA) and chartered financial analysts (CFA), among others.
Most of Tolleson's client base is comprised of high-net-worth individuals. The firm does work with some institutions as well, like banks, pooled investment vehicles and charities. 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 over 51 years of 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.
Retirement Planners of America
Retirement Planners of America, formerly known as 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 or securities. They are still bound by fiduciary duty, though, requiring them to always act in the best interest of the client.
Retirement Planners of America is also on SmartAsset’s list of the top financial advisor firms in Plano. It sports a large and qualified team of advisors that includes certified financial planners (CFPs), certified public accountants (CPAs), chartered financial consultants (ChFCs), chartered retirement planning counselors (CRPCs), retirement income certified professionals (RICPs) and registered financial consultants (RFCs).
The firm’s business mainly comes from individual accounts, though it also manages money for high-net-worth individuals. The firm also provides advice for pension and profit sharing plans. It has no set account minimum.
Retirement Planners of America Background
Retirement Planners of America was founded in 2011 as Money Matters With Ken Moraif. The firm changed their name in 2019. The principal owners of the firm are Kenneth A. Moraif, 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.
Retirement Planners of America Investing Strategy
Retirement Planners of America 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.
RGT Wealth Advisors
RGT Wealth Advisors is a fee-only firm based in Dallas. Additionally, it earned a spot on SmartAsset’s list of the top 10 Dallas financial advisor firms.
The firm has a large team of advisors and a Texas-sized group of certifications. That includes a large number of certified financial planners (CFPs), certified public accountants (CPAs), certified divorce financial analysts (CDFAs) and 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, pooled investment vehicles, businesses and charitable organizations.
RGT Wealth Advisors Background
RGT Wealth Advisors was founded in 1985. It is owned by its 17 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 planning
- 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.
Linscomb & Williams
Linscomb and Williams is a fee-only firm and comes in next on our list of the state's top advisors. The company’s team includes several certified financial planners (CFPs), chartered financial analysts (CFAs) and certified public accountants (CPAs), with a few other certifications on board as well.
Linscomb and Williams works with mostly individual accounts, though a minority 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. 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
Linscomb and Williams 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.
TCG Advisors, LP takes the next spot on our list of the top financial advisory firms in Texas. The Austin-based firm's staff includes certified financial planners (CFPs), certified public accountants (CPAs), accredited investment fiduciaries (AIFs) and chartered financial analysts (CFA). The firm and its advisors work with almost all types of clients, including individuals both with and without a high net worth, banks, investment companies, business development companies, pooled investment vehicles, pensions, profit sharing plans, charities, government entities, other investment advisors, insurance companies and other corporations.
There is no set account minimum stated on this firm's Form ADV. This is a fee-only firm, meaning all of its income comes from client fees and advisors do not receive third-party commissions.
TCG Advisors Background
Founded in 2001 by John Pesce (CEO) and Mike Cochran, TCG Advisors is now owned by TCG Group Holdings, LLP and investment advisor Total Compensation Group Investment Advisory Services Management, LLC. Pesce personally owns the largest share of TCG Group Holdings.
TCG Advisors specializes in portfolio management, but it provides a few different kinds of portfolio management. Clients can take advantage of portfolio models, management programs and robo-advisor services through Charles Schwab Intelligent Portfolios. TCG also offers financial planning services.
TCG Advisors Investing Strategy
TCG Advisors uses a portfolio management model that is heavily centered upon its model portfolios. As a result, its investment strategies revolve heavily around those model programs. Advisors at the firm review these models quarterly. Their goals are to maximize returns while mitigating volatility. If models begin to misallocate investments, advisors will rebalance immediately.
CH Investment Partners
CH Investment Partners, LLC is the next firm on our Texas list. This fee-only firm has a client base consisting of high-net-worth individuals, private pooled investment vehicles and a single charity. The firm tends to require a high minimum investment requirement of $40 million. The firm is fee-only, as it does not receive third-party commissions and instead only receive advisory fees directly from clients.
CH Investment Partners Background
CH Investment Partners was established in 2019. Its principal owners are Michael Silverman and Kirk Rimer. The firm used to be part of Crow Holdings Capital Partners, LLC, a firm that made it onto previous lists.
The firm provides clients with investment management services, financial planning and business consulting services. CH Investment Partners typically serves separately managed accounts and affiliated pooled investment vehicles.
CH Investment Partners Investment Strategy
CH Investment Partners provides clients with several different investment strategies that can be tailored to fit their needs. These include global equities, hedge funds, private equity and direct investments, master limited partnerships, real estate and fixed income. Advisors also tend to invest client assets in financial instruments, securities, private investments and more.
Advisors at CH prioritize diversification and correlation, liquidity terms and fee structures when it comes to crafting client portfolios.
Southern Wealth Management
Southern Wealth Management, LLP is a fee-based financial advisor firm located in Dallas. It makes our list of the top financial advisory firms in Dallas as well as our Texas list. The firm has a $1 million minimum account size requirement. It works with high-net-worth individuals, charities and businesses.
This firm is fee-based. This means that some advisors can receive commissions from selling securities, insurance or other financial products to clients. Despite this potential conflict of interest, the firm is still a fiduciary and is legally obligated to act in the best interests of clients at all times.
Southern Wealth Management Background
Southern Wealth Management has been in the business of financial advisingn since its founding in 2005. The firm is a multi-family office operation and has offices in Dallas, San Antonio and New Orleans.
Southern Wealth Management's advisors combine their resources and skills in order to best provide clients with advisory services. The firm works to provide clients with financial planning services, estate planning and investment consulting, among other things.
Southern Wealth Management Investment Strategy
Southern Wealth Management's investment strategies are tailored to meet the needs of clients. Advisors work with clients to determine factors like overall risk tolerance, investment objectives, time horizon and investment restrictions.
Advisors at this firm build client portfolios using a mix of individual equities, bonds and mutual funds. They may use other investments too, as they see fit.
Level Four Advisory Services
Level Four Advisory Services, a fee-only firm in Dallas, is next on our list. Outside of Texas, the firm employs advisors in nearly 20 states.
There's no shortage of advisory certifications at Level Four. There are over 20 certified financial planners (CFP), along with several chartered life underwriters (CLU), chartered financial consultants (ChFC), chartered retirement planning counselors (CRPC), certified public accountants (CPA) and accredited investment fiduciaries (AIF).
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. The vast majority of Level Four's clients are individuals, with a few high-net-worth individuals sprinkled in. Institutional clients include pooled investment vehicles, pensions, profit sharing plans, government entities, insurance companies and other businesses.
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.
USCA RIA, LLC is a Houston-based financial advisor firm that rounds out our list of the top financial advisors in the state of Texas. The firm is fee-based, meaning it may earn compensation for the sale of certain recommended investments. But 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 a large team of advisors on staff. The team includes certifications such as certified financial planner (CFP), chartered financial analyst (CFA), certified investment management analyst (CIMA) and 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 Background
USCA RIA 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 Investing Strategy
USCA RIA 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.