Finding a Top Financial Advisor Firm in Wichita, Kansas
Finding a financial advisor is a challenge. Luckily, SmartAsset has simplified your search by determining the top financial advisor firm in Wichita, after dozens of hours of research into the city’s firms. Below, we lay out our findings about the firm, including its fee structure, investing strategy and background.
How We Found the Top Financial Advisor Firm in Wichita, Kansas
SmartAsset began by considering all U.S. Securities and Exchange Commission (SEC)-registered firms in Wichita. 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 under consideration only included firms with clean records. We also eliminated firms that did not manage individual accounts or did not have financial planners on staff. The remaining firm is reviewed below.
The top financial advisor firm in Wichita is 6 Meridian, which has $1.89 billion in assets under management (AUM). The firm has 12 financial advisors on staff. That includes two certified financial planners (CFPs) and two chartered financial analysts (CFAs).
As a fee-based advisor, 6 Meridian’s advisors may sell certain brokerage services or insurance products to clients and in turn may earn a commission. Being a fee-based advisor does not change the fact that 6 Meridian is a fiduciary and thus has to put its clients’ best interests before its own.
There is no minimum amount required to open an account, but the firm charges clients a minimum monthly fee of $300 per household. This is a flat fee so clients with lower account balances will pay a higher effective fee rate than clients with high account balances.
Clients of 6 Meridian LLC include individuals, high-net-worth individuals, pension and profit-sharing plans, trusts, estates, charitable organizations, corporations and businesses. With that being said, more than three-quarters of the firm’s clients are high-net-worth individuals.
6 Meridian LLC 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 from 6 Meridian 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.
6 Meridian LLC 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 attempts 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.