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 10 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||Avalon Advisors, LLC Find an Advisor||$6,596,369,496|| |
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|2||Money Matters With Ken Moraif Find an Advisor||$4,138,773,213|| |
No set account minimum
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No set account minimum
|3||RGT Wealth Advisors Find an Advisor||$4,026,863,498|| |
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|4||South Texas Money Management, Ltd. Find an Advisor||$3,315,927,425|| |
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|5||Linscomb & Williams Inc. Find an Advisor||$2,965,411,297|| |
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|6||RAA Find an Advisor||$2,677,263,499||$250,000|| || |
|7||USCA RIA LLC Find an Advisor||$2,577,625,148|| |
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|8||Southern Wealth Management LLP Find an Advisor||$2,241,951,074|| |
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|9||Paul Comstock Partners Find an Advisor||$2,228,703,877|| |
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|10||Patriot Wealth Management, Inc. Find an Advisor||$1,864,031,331|| |
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How We Found the Top Financial Advisor Firms in Texas
We made a list of all U.S. Securities and Exchange Commission (SEC)-registered financial advisor firms in the Lone Star State. Only SEC-registered firms were considered 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 10 firms that made the list, sorted from highest to lowest assets under management (AUM).
Avalon Advisors, LLC
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 34 advisors on staff, including one certified financial planner (CFP), eight chartered financial advisors (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. 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 other 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 interest 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 the firm. In addition to its office in Houston, the company also has an office 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:
- 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.
Money Matters With Ken Moraif
The uniquely named Money Matters With Ken Moraif is a fee-based firm located in the Dallas suburb of Plano. In addition to 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 million 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 (ChFC), one chartered retirement planning counselor (CRPC), one retirement income certified professional (RICP), one chartered retirement planning counselor (CRPC) and one registered financial consultant (RFC.)
Most 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 which 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.
RGT Wealth Advisors
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 17 certified financial planners (CFPs), one certified trust and financial advisor (CTFA), five certified public accountants (CPAs), two certified divorce financial analysts (CDFAs), one chartered financial consultant (ChFC) and six 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 some pension plans and charitable organizations.
RGT Wealth Advisors Background
RGT Wealth Advisors was founded in 1985. It is owned by its 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.
South Texas Money Management, Ltd.
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 more than 30 advisors on staff. That includes eight chartered financial advisors (CFAs), six certified financial planners (CFPs), one certified divorce financial analysts (CFDA) and one accredited investment fiduciary (AIF).
The firm has a $1 million minimum investment requirement. It advises a fairly even number of individuals and high-net-worth individuals. 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 in 2015, 2016 and 2017.
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
Linscomb & Williams Inc.
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 11 advisors on staff. The company’s team includes 11 certified financial planners (CFPs), three chartered financial advisors (CFAs), five certified public accountants (CPAs), one accredited investment fiduciary (AIF) and one accredited estate planned (AEP).
Linscomb and Williams works with mostly individual accounts, though about one-third of its individual advising is for high-net-worth accounts. It also advises pension plans, charitable organizations and other 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. 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.
RAA is an Addison-based, fee-only firm that caters to airline industry professionals. It has more than $2.8 in assets under management and employs 76 advisors. Its advisory team includes nine certified financial planners (CFPs), one chartered financial analyst (CFA), three certified public accountants (CPAs), five accredited investment fiduciaries (AIFs), one certified long-term care (CLTC), 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 does some institutional business, 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 was founded in 1991. It was founded 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 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, 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.
USCA RIA LLC
USCA RIA, LLC is a Houston-based financial advisor firm with more than $2.5 million in assets under management. The firm is fee-based, but if the company is paid for selling a financial product then that income is offset by a reduction of fees. As is the case with every firm on this list, USCA RIA is a fiduciary.
The firm has 48 advisors on staff. The team includes four certified financial planners (CFPs), four chartered financial analysts (CFAs), two certified investment management analysts (CIMAs), one certified public manager (CPM) and one chartered alternative investment analyst (CAIA).
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 other corporations. There is a $50,000 minimum investment required to open an account.
USCA RIA LLC Background
USCA RIA, LLC was founded in 2010 and registered with the SEC in 2011. 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.
Southern Wealth Management LLP
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 interest of its clients.
The firm, which has 13 advisors on staff, exclusively serves high-net-worth individuals. The staff includes seven certified financial planners (CFPs), two chartered financial analysts (CFAs), eight certified public accountants (CPAs) and two 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 principals. The firm is actually in the process of merging with Capital Plan, a Dallas-based firm founded in 1977. The merged firms will continue to operate as Southern Wealth Management.
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.
Paul Comstock Partners
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 advisor (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
The firm was founded in 1983 by Paul Comstock. It is still family owned. 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 relationship advisor.
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.
Patriot Wealth Management, Inc.
The final entry on this list is Patriot Wealth Management, Inc., a fee-only firm with more than $1.8 billion in assets under management. The Houston-based firm has 13 advisors, including four certified financial planners (CFPs), two chartered financial analysts (CFAs) and two certified public accountants (CPAs).
Patriot Wealth Management has a minimum investment requirement of $250,000. The firm works with both high-net-worth individuals and individuals, but more of its clients are high-net-worth individuals. It also advises a small number of other investment companies.
Patriot Wealth Management, Inc. Background
Patriot Wealth Management, Inc. was founded in 2004. It is principally owned by Todd Hanslik, Jeffrey Swantkowski, Dana Weinstein, Anna Jones and Billie Murski, all of whom work at the firm.
Services offered by the firm include financial planning, estate planning, insurance, employee benefits, retirement planning, cash flow, taxes and education planning. It can also help clients plan for a major project or life event.
Patriot Wealth Management, Inc. Investing Strategy
Patriot Wealth Management uses two basic strategies to build wealth for its clients. The first of these strategies is equity management. In this strategy, the firm looks for companies that are steadily growing and that have high sales and margins. The firm generally sells stocks that are underperforming or are facing regulatory inquiries. The firm’s equity management portfolios are broadly diversified, with an average of 30 - 40 holdings.
The second strategy the firm uses is fixed income management. This style uses a buy-and-hold strategy and seeks to purchase investment-grade bonds.