Finding a Top Financial Advisor Firm in Wichita, Kansas
Finding a financial advisor that's right for you can be challenging. To help, SmartAsset researched the Wichita's firms to determine the top financial advisor firms in the city. Below, we lay out our findings about the firms, including their fee structures, investing strategies and backgrounds. To further your search, use our free, five-minute matching tool. It'll connect you with up to three advisors in your area.
|Rank||Financial Advisor||Assets Managed||Minimum Assets||Financial Services||More Information|
|1||6 Meridian LLC Find an Advisor||$ 1,798,013,861||No set account minimum|| || |
Minimum AssetsNo set account minimum
|2||IMA Wealth, Inc. Find an Advisor||$ 522,503,257||No set account minimum|| || |
Minimum AssetsNo set account minimum
|3||Wealth Alliance Advisory Group, LLC Find an Advisor||$266,923,230||No set account minimum|| || |
Minimum AssetsNo set account minimum
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|4||KC Investment Advisors, LLC Find an Advisor||$ 180,606,871||Varies based on account type|| || |
Minimum AssetsVaries based on account type
How We Found the Top Financial Advisor Firm in Wichita, Kansas
SmartAsset began by considering all firms in Wichita registered with the U.S. Securities and Exchange Commission (SEC). We specifically considered SEC-registered firms, because they have a fiduciary duty to put their clients’ best interests ahead of their own. We eliminated any firms that had disciplinary issues, so that the final list of firms only includes firms with clean records. We also removed firms that do not offer financial planning or whose client base isn't at least half individuals (as opposed to institutional clients). The remaining firms are reviewed below, starting with the largest based on assets under management. All information is accurate as of the writing of this article.
6 Meridian LLC
The top financial advisor firm in Wichita is 6 Meridian LLC, which has close to $1.80 billion in assets under management. The firm has 14 financial advisors on staff. They include three certified financial planners (CFPs) and three chartered financial analysts (CFAs).
At 6 Meridian, some advisors are brokers and/or insurance agents, and in their non-advisor roles, they collect transaction-based fees. This has the potential of being a conflict of interest, But as an SEC-registered firm, 6 Meridian is legally required to put clients' interests before its own.
Though 6 Meridian has no set account minimum, most of its clients have high net worths. The firm also works with less affluent individuals, pension and profit-sharing plans, trusts, estates, charitable organizations, corporations and businesses. There is no minimum amount required to open an account.
6 Meridian Background
Seven partners founded 6 Meridian in 2016: Margaret A. Dechant, Stevan M. Bahm, Andrew J. Mies, Pamela A. Smith, Sarah J. Hampton, Bryan S. Green and Thomas H. Kirk III. They are still the sole owners of the firm, with Dechant serving as CEO.
Services center on offering clients comprehensive financial planning. For example, the firm offers business planning, cash flow forecasting, trust and estate planning, retirement planning and education planning. Additionally, the firm provides investment portfolio services. If a client has investment products that are not maintained by 6 Meridian, like 529 plans and annuity contracts, 6 Meridian can still provide management advice.
In June 2020, 6 Meridian expects to work with Exchange Traded Concepts, LLC, acting as sub-advisor to exchange-traded funds (ETFs). When appropriate, it may recommened these ETFs, which is a potential conflict of interest. If it does recommend these ETFs, it will reduce its wealth management fee either by the amount of compensation it receives as sub-advisor for these assets or the amount of wealth management fees it would have charged on the assets, whichever is lessor.
6 Meridian Investing Approach
According to 6 Meridian’s website, the firm offers 12 base portfolios for clients. The portfolios differ from each other by how risky the investments are and by their expected returns. Higher risk portfolios have higher potential returns. These base portfolios can be adapted to meet a client’s specific goals, needs and risk tolerance.
When choosing securities for a portfolio, 6 Meridian uses fundamental and quantitative research methods. Fundamental analysis seeks to measure a stock’s value by looking at a number of financial and economic factors. Quantitative analysis attempts to understand and predict how a security will behave.
IMA Wealth, Inc.
IMA Wealth, Inc. provides a suite of financial management services to individuals and their families, corporations, charitable organizations and corporate retirement plan sponsors. It currently holds nearly $523 million in assets under management. Of its individual clients, according to SEC data, about two-thirds do not have high net worths. The firm has no set account minimum for individual clients.
IMA Wealth generally charges annual fees for portfolio management as a percentage of your assets under management. However, that fee currently can’t exceed 1.60%. Still, IMA Wealth may agree to negotiate different terms.
IMA Financial Group, Inc. is this firm’s parent company. It also runs affiliates that sell insurance products. In the event you purchase one of these products, an IMA Wealth affiliate may receive commission. However, the firm, as a fiduciary, is legally obligated to work in your best interests.
IMA Wealth Background
IMA Wealth was founded in 1999, when it first opened its doors to the community of Wichita. It also manages offices in Dallas and Denver. The IMA Financial Group wholly owns IMA Wealth. The parent company is an insurance-brokerage agency and employee benefits organization based in Wichita.
The team at IMA Wealth includes nine accredited investment fiduciaries (AIFs), four certified financial planners (CFPs), one chartered financial analyst (CFA), one certified retirement plan specialist (CPRS) and one chartered life underwriter (CLU). (Advisors may have more than one credential.)
IMA Wealth Investing Approach
The IMA Wealth investment philosophy is driven by asset allocation strategy. The firm will analyze your entire picture to build the right one. It will consider your risk tolerance, cash flow, and overall financial objectives to build the right one for you.
In addition, you’ll have access to the entire advisory team when you work with IMA Wealth. All will work with your Relationship Manager to construct the right financial plan for you.The firm may alter your portfolio’s asset allocation or financial plan if changes to your financial objectives of risk tolerance deem it necessary.
The firm utilizes portfolio modeling and quantitative and qualitative securities analyses.
Wealth Alliance Advisory Group, LLC
The Wealth Alliance Advisory Group (WAAG), LLC provides a comprehensive range of wealth management services, including financial planning, portfolio management and even tax-planning services. It currently has about $379 million in assets under management with only a three-person investment advisory team.
According to the firm's filings with the SEC, most of its individual clients are non-high-net-worth individuals. WAAG also provides services to profit-sharing plans and businesses.
Wealth Alliance Advisory Group Background
WAAG started doing business in 2017, making it the youngest firm on our list. The founder Gary W. Decker serves as its president and CEO. He can trace his experience in the financial services industry back to 1990.
Even though the three-person team does not hold credentials such as the certified financial planner (CFP) or chartered financial analyst (CFA) designation, each member has held a leadership position at UBS Financial.
When working with these advisors, you can expect guidance on several financial topics including:
- Business planning
- Cash flow forecasting
- Trust and estate planning
- Insurance planning
- Tax Planning
- Charitable giving
- Investing consulting
Wealth Alliance Advisory Group Investing Approach
WAAG provides investment advisory services on a discretionary and non-discretionary basis. This means it will make trades with or without your prior approval. The firm will employ an investment strategy it deems right for you based on your investment objectives, risk tolerance and other key points.
The advisory generally invests your assets in the following securities if they align with your investment objectives and time horizon.
- Mutual funds
- Exchange-traded funds (ETFs)
- Debt securities
- Privately placed securities such as interests in pooled investment vehicles
KC Investment Advisors, LLC
KC Investment Advisors, LLC, which also goes by KCoe Wealth, provides financial planning, investment management and insurance planning services. According to SEC records, the firm currently works with about 200 clients. Most of them are not high-net-worth individuals.
The firm generally requires a minimum initial investment of $50,000 for accounts under its KCWM Program Asset Allocation System accounts or $250,000 for Private Managed accounts.
KWC currently oversees close to $181 million in assets under management.
KC Investment Advisors Background
KWC registered with the SEC as an investment advisor in 2004. It is owned by KCOE Wealth Management, LLC, which is owned by KCWM Holdings, LLC. The firm’s advisory team consists of one certified financial planner (CFP) and one registered financial consultant (RFC).
The firm provides consultations on your choice of financial topics, and it helps clients with ongoing asset-management services.
KC Investment Advisors Investing Approach
The firm helps clients build investment portfolios to meet their individual goals. The firm monitors these accounts to make sure they fall in line with such objectives. It builds an asset allocation and an overall financial plan if requested by drawing from several sources of information including questionnaires, surveys, financial documents and more.
The firm can also provide advisory services by referring clients to third-party unaffiliated money managers that are registered as advisers or are exempt from doing so.