Finding a Top Financial Advisor Firm in Topeka, Kansas
Topeka, Kansas is home to several financial advisor firms, so it may be difficult to sort out which one is right for you. To help you make this important decision, SmartAsset put this list together of the top firms in Topeka. For each firm, we looked at a number of factors, such as advisory services, typical client base, account minimums, investment strategies and certifications. As an alternative, SmartAsset's free advisor matching tool can connect you with up to three advisors who serve your area.
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|Rank||Financial Advisor||Assets Managed||Minimum Assets||Financial Services||More Information|
|1||Clayton Wealth Partners Find an Advisor||$706,694,758||No set account minimum|| || |
Minimum AssetsNo set account minimum
|2||Carlson Financial Find an Advisor||$364,265,980||$250,000|| || |
|3||Cornerstone Advisors, LLC Find an Advisor||$225,729,500||No set account minimum|| || |
Minimum AssetsNo set account minimum
|4||Endeavor Private Wealth, LLC Find an Advisor||$273,016,291||$250,000|| || |
|5||Capital Portfolio Management L.L.C. Find an Advisor||$150,752,421||$100,000|| || |
|6||Next Generation Investing, LLC Find an Advisor||$118,000,000||$300,000|| || |
What We Use in Our Methodology
To find the top financial advisors in Topeka, we first identified all firms registered with the SEC in the city. Next, we filtered out firms that don't offer financial planning services, those that don't serve primarily individual clients and those that have disclosures on their record. The qualifying firms were then ranked according to the following criteria:
- AUMFirms with more total assets under management are ranked higher.
- Individual Client CountFirms who serve more individual clients (as opposed to institutional clients) are ranked higher.
- Clients Per AdvisorFirms with a lower ratio of clients per financial advisor are ranked higher.
- Age of FirmFirms that have been in business longer are ranked higher.
All information is obtained through public records and is updated annually after the firms’ form ADV filing. This list may include firms that have a business relationship with SmartAsset, in which SmartAsset is compensated for lead referrals. Such relationships have no impact on our rankings, and firms are included and ranked based strictly on the above criteria. SmartAsset is not a client of the aforementioned firms, and did not receive compensation for including any of the firms on the aforementioned list.
Clayton Wealth Partners
The first firm on this list is Clayton Wealth Partners (CWP), a fee-only practice that works with individuals, high-net-worth individuals, charities, corporations and businesses. CWP does not have a specific minimum investment requirement for clients, though some services call for an annual fee.
The firm employs several certified financial planners (CFPs), a chartered financial analyst (CFA), a certified investment management analyst (CIMA), a chartered life underwriter (CLU) and a financial paraplanner qualified professional (FPQP). (Advisors may have more than one credential.)
As a fee-only practice, the firm only receives advisory fees from clients. Advisors do not collect sales commissions for insurance or securities transactions.
Clayton Wealth Partners Background
Originally established in 1984, Clayton Wealth Partners has two founding partners: Debra Clayton and Randy Clayton. Debra and Randy Clayton have ownership stakes in the business, alongside managing partner Clint Patty and partners Barbara Duncan, Elizabeth Young and James Walden.
CWP provides wealth management services, which consist of portfolio management and financial planning. The firm also offers one-off financial consulting. The firm can develop financial plans that relate to wide variety of different situations and goals.
Clayton Wealth Partners Investment Strategy
Clayton Wealth Partners works with clients to determine their financial needs and goals. It does this so that it can tailor its investment strategies accordingly. Advisors account for a range of factors, such as an individual's investment objectives, investment history, time horizon, income needs and risk tolerance. An advisor will then tell the client which model portfolio or mix of model portfolios best suits their profile.
The investment strategies of the various model portfolios that Clayton Wealth Partners offers range from conservative to aggressive growth.
While CWP will occasionally engage in short-term trading, it typically focuses on attaining long-term growth. The firm also prefers to heavily diversify its portfolios. Advisors often invest in mutual funds and exchange-traded funds, though other investments may be used to flesh out certain portfolios. Advisors utilize both cyclical and fundamental methods of analysis to determine which securities are best suited for a particular client.
Carlson Financial is the next firm on our list. The firm's client base is heavily individual-centric, and the vast majority of these individual clients do not have a high net worth. The firm also works with corporations and businesses. The minimum account balance requirement at Carlson is $250,000, though this is negotiable.
The on-staff team at Carlson includes such advisory certifications as certified public accountant (CPA) and certified financial planner (CFP). In addition to its main office in Topeka, the firm has locations in Kansas City; Colorado Springs, Colorado; Richmond, Virginia; and Virginia Beach, Virginia.
Advisors at Carlson Financial are also licensed insurance agents and in their non-advisor capacity collect sales commissions on insurance products. This makes the firm fee-based. Although this creates the potential for a conflict of interest, the firm is a fiduciary, meaning it must act in clients' best interests.
Carlson Financial Background
Carl Carlson, the CEO of Carlson Financial, founded the company in 2012. It wasn't until 2018, though, that the firm registered as an investment advisor with the SEC. Carl Carlson and Dan Moylan, chief investment officer, have over 50 years of wealth management experience between them. Carlson remains the principal owner of the firm, with Moylan and Theresa Muller retaining small minority interests in the business.
Carlson provides a fairly typical suite of financial advisory services. Its financial planning offerings are the cornerstone of the firm's advisory business, as every client-advisor relationship begins with an evaluation of the client's currrent and desired financial states. Other financial planning services include investment planning, income planning, insurance needs, income tax planning and inheritance planning.
Carlson Financial Investment Strategy
Carlson Financial tailors its investment strategy to the individual needs of each of its clients. This process involves sitting down with the client on a face-to-face basis and developing an investor profile centered around important factors, such as risk tolerance, time horizon, income needs and financial objectives. Advisors develop a specific financial plan with each client that helps further inform what investments and asset allocations would be best for them.
Since investment strategies are created for each client, Carlson and its advisors don't stick to any one particular group of ideas or set of investments. The firm mainly uses a combination of equities and exchange-traded funds when building client portfolios. Advisors invest on both a long- and short-term basis, with a significant emphasis on effective asset allocation determination.
Cornerstone Advisors, LLC
Cornerstone Advisors is a smaller firm that provides investment management services, as well as financial planning and financial consulting. Most of the firm's individual clients do not have a high net worth. The firm also works with charitable organizations, corporations and other business entities. You won't need to meet any sort of minimum balance requirement to work with this firm.
This firm is fee-based, which means its advisors sell insurance products on a commissions basis. This creates a potential conflict of interest, though the firm is bound by its fiduciary duty, legally obligating it to act in clients' best interests.
Cornerstone has one chartered life underwriter (CLU) and chartered financial consultant (ChFC) on staff.
Cornerstone Advisors Background
Cornerstone Advisors was founded in 2000 by Donald Schwart, who remains the firm's CEO to this day. Schwart is a long-time wealth management professional, having worked in the industry since 1966.
Cornerstone provides comprehensive wealth management services to clients in order to help them meet their financial goals. Cornerstone offers investment management to clients, helping to develop proper investment strategies for their personal goals and needs. The firm also has financial planning services that encompass tax planning, wealth transfer planning, retirement planning, long-term care planning and other areas.
Cornerstone Advisors Investment Strategy
Cornerstone Advisors formulates specific investment plans and advice for each client depending on their long- and short-term goals. Through an ongoing series of interviews and meetings with clients, advisors determine their personal investment objectives, risk tolerance, time horizon, investment history and liqudity needs. This information is then used to produce a client profile, develop an associated investment strategy and implement that strategy within the confines of a portfolio.
The firm tends to invest client assets in mutual funds and exchange-traded funds. However, in some cases, the firm may also provide advice on concentrated stock positions already held in a client's portfolio. The firm also tends to focus on long-term returns, avoiding frequent trading in order to minimize the negative effects of trading fees.
Endeavor Private Wealth, LLC
Endeavor Private Wealth, the next firm on our list, is a fee-based practice whose advisors may earn commisisons or third-party compensation on the sale of certain insurance products. This can create a conflict of interest, since an advisor may have a financial incentive to recommend a certain product over a cheaper, more appropriate alternative. Despite this fee structure, Endeavor say it upholds its fiduciary duty to act in its clients' best interests.
As for clients, Endeavor primarily works with individuals. The firm also serves high-net-worth individuals and charitable organizations. New clients typically need $250,000 in investible assets to open an account.
Endeavor's staff does not hold any financial certifications, like the chartered financial analyst (CFA) or certified financial planner (CFP) designations.
Endeavor Private Wealth Background
Founded in 2021, Endeavor Private Wealth is is youngest firm on this list. Chris McGee is the sole owner of the business, which provides investment and wealth management services, selection of independent managers, financial planning and consulting, as well as fiduciary and non-fiduciary services for plan sponsors.
The firm's financial planning and consulting services may include cash flow analysis, financial record organizing, estate planning, charitable giving, education planning, business planning, divorce planning, tax planning, insurance review and other topics.
Endeavor Private Wealth Investment Strategy
Endeavor Private Wealth tailors its investment and wealth management services to meet the needs of its clients. When providing investment advice, the firm takes a client's current financial situation, their past experiences and future goals into consideration.
Portfolios are typically built using individual equity and debt securities, as well as exchange-traded funds and mutual funds. As for investing strategies, the firm uses a combination of active and passive tactics when managing client assets.
Capital Portfolio Management L.L.C.
Capital Portfolio Management (CPM) is a fee-based firm that works with primarily with individuals and high-net-worth individuals. It also offers services to retirement plans, charities, corporations and businesses. The firm requires a minimum account size of $100,000 for portfolio management.
In addition to the advisory fees that CPM collects directly from clients, some advisors may also receive commissions or other third-party compensation when selling financial products or insurance. While this can lead to a conflict of interest, the firm must act in its clients' interests as a fiduciary.
One advisor on staff holds the chartered life underwriter (CLU), chartered financial consultant (ChFC) accredited asset management specialist (AAMS) accredited wealth management advisor (AWMA) and certified wealth strategist (CWS) designations.
Capital Portfolio Management Background
Capital Portfolio Management, which opened its doors in 2003, is owned by Jared D. Rand and John P. Orindgreff. In addition to its main office in Topeka, the firm has an office in Overland Park.
The firm offers portfolio management services, as well as consulting on topics like estate planning, retirement planning and current investments. The firm also provides participant level 401(k) advice and monitoring.
Capital Portfolio Management Investment Strategy
When it comes to investment management, the firm offers three distinct types of asset management: managed stock and ETF accounts, managed IRA accounts and managed outside retirement accounts. CPM advisors seek to reduce risk and volatility by building globally diversified portfolios using individual equities, bonds, mutual funds, ETFs and other investment products.
Next Generation Investing, LLC
While registered under the name Next Level Investing, this fee-based firm markets itself publicly as The Retirement Team. The firm primarily works with individuals and high-net-worth individuals, as well as several charities, corporations and businesses. The firm generally requires a $300,000 minimum for asset management services and at least $1 million for financial planning.
As a fee-based firm, advisors at Next Generation Investing/The Retirement Team receive commissions or third-party compensation when recommeding insurance or financial products to advisory clients. While this creates the potential for a conflict of interest to arise, the firm must abide by fiduciary duty to always act in its clients' best interests.
Next Generation Investing/The Retirement Team does not have any accredited professionals, like certified financial planners (CFPs), on staff.
Next Generation Investing Background
Next Generation Investing was founded in 2008. Roger Shumaker remains a 60% owner of the business, while Ryan Shumaker retains the other 40% stake.
The firm offers financial planning services, both discretionary and non-discretionary portfolio management, market timing services and separate account management for other registered investment advisors.
Next Generation Investing Investment Strategy
Next Generation Investing/The Retirement Team uses a combination of fundamental, technical, cyclical and charting analysis to evaluate and select investments for client portfolios. The firm also employs quantitative analysis, and engages in long-term purchases, short-term purchases and trading.