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 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||Crow Holdings Capital Find an Advisor||$9,931,935,000||$40,000,000|| || |
|2||Avalon Investment & Advisory Find an Advisor||$8,440,689,324||$5,000,000|| || |
|3||Tolleson Private Wealth Management Find an Advisor||$6,630,904,897||$10,000,000|| || |
|4||Retirement Planners of America Find an Advisor||$4,431,534,007||No set account minimum|| || |
Minimum AssetsNo set account minimum
|5||RGT Wealth Advisors Find an Advisor||$4,335,439,040||$3,000,000|| || |
|6||Linscomb & Williams Find an Advisor||$3,844,536,498||$1,000,000|| || |
|7||Level Four Advisory Services Find an Advisor||$2,812,483,913||Varies based on account type|| || |
Minimum AssetsVaries based on account type
|8||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.
Crow Holdings Capital
Crow Holdings Capital (CHC) is easily the largest firm on this list with just about $9.9 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.
Avalon Investment & Advisory
The second firm on our list is Avalon Investment & Advisory, with more than $7.3 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 45 advisors on staff, including two certified financial planners (CFPs), 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 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 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 Investment & Advisory, LLC 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
Third-ranked Tolleson Private Wealth Management is a fee-only firm that does business in Dallas. With countless financial advisors and $6.6 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.
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. 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 first 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 corporations and pension plans. It has no set account minimum, but some individual advisors may have one.
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, 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.
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, 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 $4.3 billion in assets under management (AUM).
The firm has 35 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.
Linscomb & Williams
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.
Level Four Advisory Services
Level Four Advisory Services, a fee-only firm in Dallas, has a large network of 139 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.
USCA RIA, LLC
USCA RIA, LLC is a Houston-based financial advisor firm with more than $2.57 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.