Hiring a firm, or trusting an individual within a firm to invest and protect your money for retirement or wealth accumulation is a big decision. Knowing what asset management company or wealth advisory service to hire can be a tough decision to make. How do you know your money is in the right hands? How do you know about their fees and how it affects your retirement or savings long term? In the financial planning business, reputation is one thing. But the philosophy and how they go about managing your portfolio is much more important. Keep reading to find out what the best Financial Advisors in Arlington are.
Many seek the advice of a financial planner to navigate sudden changes in life such as marriage, divorce, death or switching a career. Selling a business can often result in needing a new approach, with a good business broker and a financial planner needed to take the seller to the next level of success.
Every stage of life calls for a different approach to saving and planning. If one started investing at age 21, the needs of that person are drastically different than one who starts at 65 years of age. The approach, how aggressive the investment portfolio is and the current income of the different individuals, are all things to consider. Many options are available for those who wish to invest and plan for a final destination—whether it’s freedom from the work force or for a very comfortable eventual retirement. The success or failure to reach the ultimate destination largely depends on the firm chosen and the performance of their services. Let’s not forget that the political climate, the state of the economy and how dedicated the investor is at staying with the market ups and downs are factors that can impact the lifetime results of your long-term financial strength.
Financial planning can be accomplished in several ways. Signing up with an online do-it-yourself investment company is one way. Another is to hire an actual advisor. Both strategies come with their pros and cons.
An online do-it-yourself firm lets you do it without human advice and usually comes with a lower price or cost to invest. After all, another human is not paid for doing research or making transactions in the investment. The option of hiring a wealth manager or financial planner comes with higher costs, but proven to have more lucrative results. Analysts say you can anticipate 2% to 4% higher results when you have direct involvement of an active financial planner versus going it alone.
What Will That 2% or 4% Cost?
Just like Arlington CPA, hiring a financial planner comes with greater returns but at higher costs? At which point is it beneficial? To know that, it’s crucial to understand how your advisor makes money. It will determine how they work to make you money. Which means it is important to understand the various options and payment structures. Here are the most common choices:
Hourly: The investor is charged for time use on his behalf, regardless of assets.
Retainer: A scheduled (usually monthly or annual) fee makes the Financial Advisor available, on-call for the advisory services the retainer covers.
Flat fees: A set price for financial planning and asset management services. The fees have nothing to do with the amount of the investor’s account, big or small. It’s like ordering off a menu of services.
Commission: The financial advisor receives a percentage of the money spent buying high-performing investments, usually charged per transaction.
Asset management: The investor is charged a fee based on how much money is invested and fees usually are paid directly from the investor’s account.
If a financial advisor is less motivated to make you more money—for example, an hourly fee—that advisor is more likely to spend time on another account. They make more money the more investments and assets grow in an Asset Management account. But also be aware that conflicts of interest can arise, depending on the fee structure. For example, advisors in Arlington Texas might move money around needlessly if they get a flat fee per transaction. Taking a portion of the growth of the investment (commissions) may encourage more thoughtful transactions.
How do you know an advisor isn’t pushing you into investments that benefit someone else’s interests more than your own? Be sure to ask a financial planner you plan to work with, “Do you have a fiduciary responsibility to my investments?” The question will tell you if he is licensed* or not. If he is, that means the financial planner must invest in your best interest first, even if it doesn’t benefit the financial planner. They are bound by ethics and regulations to do so. If the planner is not operating with a strict sense of fiduciary responsibility, he could lead you down a path that has more risk. But that riskier path can also offer a higher pay off for you, as well as him. Who can say which choice is better? It would be hard to determine. Safer? Or bigger and better results?
Like anything else, depending on your unique situation, you may be wise to try it both ways to find which approach is better. The wisest course? Get to know your financial planner and make sure you feel comfortable with the road he or she has planned for you, tailored to the results you desire.
Top 10 Best Financial Planners in Arlington TX
1. Trinity Fiduciary Partners, LLC
Trinity CEO Sam Saladino founded the firm in 2005 after working at Ameriprise Financial Planning for nine years. Rather than approaching client relationships with both financial planning and investing services, Trinity is fully focused on investment management, although the firm creates and manages portfolios to help clients reach stated financial goals. Trinity Fiduciary Partners has a small advisory team with one certified financial planner (CFP). There is no minimum account size requirement to join the firm that manages more than $28 million in assets. Trinity’s 70-plus clients are average and high-net-worth individuals, trusts, estates, charitable organizations, retirement plans and businesses.
Trinity’s most distinctive quality is its religious slant on investing. They strive to preserve and grow wealth without violating client’s social and religious values, according to its website. Trinity Fiduciary Partners, LLC was formed in Fort Worth, TX with six clients and an interest in Socially Responsible Investing. Epiphany Funds opened in January 2007 to new investors focused on Catholic investing. The Funds were merged into other fund complexes in 2018. Trinity has a unique capability to provide custom strategies that can meet the faith and social concerns of their investors and their investment approach requires a strategic asset allocation aligned to the client’s risk tolerance and return objectives. Tactical moves are often necessary to capture value or reduce near term risks.
Trinity Fiduciary Partners, LLC
200 North Mesquite Street
Arlington, TX 76011
2. Strickland Financial Group, LLC
Strickland Financial Group is a financial advisory group with four decades of experience. The current company president, Graham Strickland, joined the business in 2002. Graham “Gray” began early in the financial services business: roaming the halls of his mom’s advisory office in downtown Dallas. A second-generation advisor, he followed in his mom’s footsteps, taking over the successful practice his mom and stepfather built for 20 years. Gray expanded the practice to include a specialty focus on small businesses while continuing with the traditional comprehensive, individualized financial and retirement planning.
Strickland Financial Group uses a streamlined evaluation process to make financial plans that meet clients’ goals. After ascertaining those goals, the company analyzes every aspect of the client’s finances that gives the firm’s advisors a comprehensive idea of the client’s financial standing. They then come up with a step-by-step plan. After the implementation of the plan, Strickland Financial Group works closely with clients to monitor and adjust the goals.
The firm works with their clients other trusted advisors, such as an Attorney or CPA, to ensure all plans are in alignment.
A client’s personalized plan may include strategies to optimize cash flow, increase tax efficiency, save for education or other specific goals unique to a particular client, protect assets and create or update an estate plan. The firm helps each client implement transitioning assets, managing existing assets and launching brand new strategies for starters. A client is never alone during this process. The Strickland Financial Group team assists clients every step of the way.
Then it is a matter of monitoring so clients can remain on track toward their financial goals.
Life is what happens while people are making plans. Strickland Financial Group provides educational opportunities for the unexpected turns in the trail. An educated client is a prepared client.
Strickland Financial Group, LLC
800 E. Border St., Ste. 200
Arlington, TX 76010
Tel: (817) 461-4412
3. Edelman Financial Engines, LLC
Since 1986, Edelman Financial Engines has been committed to always acting in the best interest of clients. The firm was founded on the belief that all American investors – not just the wealthy – deserve access to personalized, comprehensive financial planning and investment advice. Today, they are America’s top independent financial planning and investment advisor, with 180+ planner offices across the country. The firm’s unique approach combines advanced methodology and proprietary technology with the attention of a dedicated personal financial planner. Every client’s situation and goals are unique. The powerful fusion of high-tech and high-touch allows Edelman Financial Engines to deliver the personal plan and financial confidence every client deserves.
Edelman Financial Engines, LLC
4500 Mercantile Plaza Dr,
Fort Worth, TX 76137
4. Wallace Wealth Management
Wallace Wealth Management has served the DFW area two decades and its financial advisors provide clients with education about financial management, analysis of market performance data and each client receives a customized financial program that helps them establish and achieve their goals. Financial programs may involve investment management, estate conservation, insurance products, and retirement strategies.
With more than 16 years of prior experience in the financial industry, founder Ryan Wallace has worked with a wide range of clients—business owners, average investors and high-net worth individuals—to help them pursue their financial goals.
Wallace Wealth Management is a full-service financial firm, committed to helping clients pursue their financial goals. With a wide range of financial products and services, the firm’s advisors are able to identify clients’ goals and make sound decisions to help reach them by providing sound financial information.
Each advisor has extensive personal and professional experience and qualified representatives are licensed to sell a variety of investment and insurance products. The firm is dedicated to developing lasting relationships with clients and believes in helping assess financial goals and then participate in the management of finances in a way that helps meet those goals. The personalized program that Wallace Wealth Management can provide is a roadmap to working toward a more secure financial future.
Wallace Wealth Management
5840 West I – 20 Ste 215
Arlington, TX 76017
5. Parkstone Wealth Management, LLC
Parkstone Wealth Management was founded in 2013 by managing directors Cheryl F. Quisenberry and Chester A. Straily. Parkstone Wealth offers clients a number of financial planning services that include help with cash flow and budgeting, education funding, mortgages, charitable planning, estate planning, retirement planning and business planning.
Many services—such as budget tracking–are available through the firm’s online tools, which are accessible through clients’ personalized online accounts. Clients can also link to investment accounts, as well as other accounts, to see their full financial picture. Clients can set financial priorities, create goals and then receive constant feedback on how they are tracking toward those goals. The tools update daily to ensure clients are always looking at their most up-to-date information.
Parkstone Wealth Management is a fee-only firm that primarily serves professional athletes. The firm also serves other individuals, trusts, estates, charitable organizations and businesses.
A small staff of advisors, one a certified financial planner (CFP), manages nearly $142 million in assets. A minimum annual fee of $25,000 is required to open and maintain an account with Parkstone Wealth Management.
Parkstone Wealth Management, LLC
1000 Ballpark Way, Suite 302
Arlington, TX 76011
6. Argo Retirement Advisors
Argo Retirement Advisors specializes in retirement planning. Company president, Matt Risenhoover, has two decades of financial advisory experience and Argo’s Grand Prairie office provides clients with investment management through IRA accounts, government securities, and stocks and bonds. Its financial planning services are geared toward retirement and include plans to alleviate tax burdens, 401(k) planning, retirement planning, and estate planning. Additionally, the company provides guidance regarding disability, life, and long-term-care insurance.
Along with challenges, economic climates come with opportunities and potential rewards for those who can identify long-term trends. The firm helps clients you address most pressing money questions and identify those long-term trends.
The firm’s first priority is the overall financial success of their clients so they learn more each client’s personal situation, identify dreams and goals and strive to understand the tolerance for risk. Long-term relationships encourage open and honest communication have been the cornerstone of the firm’s success.
Argo Retirement Advisors want to help develop, implement, and monitor a strategy that’s designed to address each client’s individual situation. From managing debt to saving for college to retirement, personal finance challenges can be overwhelming. The firm’s commitment is to utilize all of their resources to help client’s meet those challenges and pursue their goals. Argo Retirement Advisors are not afraid to challenge conventional wisdom in their approach to investing and preserving wealth. All energy, commitment and effort are focused on their clients.
Argo Retirement Advisors
2080 N Hwy 360 #225
Grand Prairie, TX 75050
7. Baker Financial Services
Baker Financial Services became an SEC-registered investment advisory in 1999. It provides clients with portfolio management services, financial planning services and consultation services. Portfolio management is available only to clients, but non-clients can receive investment advice on a limited basis for a fee. Financial planning includes everything from personal budgeting to managing a 401(k) to following a retirement plan. Consultation services include many of the same planning services that are available to clients.
Baker Financial Services is a fee-based firm with $428 million in assets under management and a fiduciary duty to work in clients’ best interests.
The firm has four financial advisors on staff. Two hold certified financial planner (CFP) designation. There is a chartered life underwriter (CLU) and one chartered financial consultant (CFC) on board. (Some advisors have more than one credential.)
Approximately 79% of the firm’s individual clients are of average net worth but the firm also works with high-net-worth individuals, pension and profit-sharing plans, IRAs, 401(k) participants, trusts, estates, charitable organizations, corporations and other business entities. There is no set minimum for opening or maintaining an account with Baker Financial Services.
The firm’s investment philosophy is about preserving a client’s capital, taking a long-term investing view and using passive investing over an active investing approach.
Advisors create client diversified portfolios across multiple asset classes that include large-, mid- and small-capitalization domestic stocks, international stocks, real estate and commodities.
Baker Financial Services
1415 West Randol Mill Road
Arlington, TX 76012
8. RF Financial Group
RF Financial Group has been in the financial services industry since 1973 and is an estate, retirement and investment planning practice. Its team of financial professionals helps clients address investing strategies and overall investing principles, issues with estate conservation and risk management. The company also provides assistance in college planning, 401(k) planning, and IRA accounts management.
Options available to a clear and concise path to financial goals are complex and confusing. Selecting the wrong option could be catastrophic. RF Financial Group is a full service financial firm, committed to helping clients determine and pursue their goals, despite the confusion and complexity. The firm creates customized plans that they and their clients execute together. Larry Rose, principal and founding partner, provides guidance to a variety of clients such as business owners, management level professionals, attorneys, physicians, and affluent retirees. The teamwork approach adds a broader perspective and provides increased benefits to clients.
The experienced professionals at RF Financial Group have helped many people with a wide variety of issues and concerns. They focus on creating something designed to address each individual situation.
RF Financial Group
2225 East Randol Mill Road, Suite 520
Arlington, TX 76011-6300
9. Phoenix Wealth Partners
Phoenix Wealth Partners is a wealth management firm that provides clients with ongoing, conflict-free financial advice and also advocates for clients and educates them. The company president, Myra Slaybaugh’s holistic financial planning approach helps clients meet their needs in every stage of life. Phoenix Wealth Partners has a particular focus on the LGBTQ community, women, families with special needs individuals and people interested in socially impactful investing.
Phoenix Wealth Partners are partners in a client’s financial journey and serves through financial planning. They help clients get from where they are to where they hope to be tomorrow by crafting a plan that is uniquely that client’s. The firm puts client’s needs first, without sales goals. An open architecture, with no proprietary financial products, enables advisors to find appropriate fits for clients at competitive prices.
Just as a phoenix rises from the ashes and is reborn into a beautiful, powerful hero, Phoenix Wealth Partners help clients become empowered, educated investors. They help clients just starting out who want to get an early start to those preparing for retirement and who seek strategies to optimize their estate planning goals.
Phoenix Wealth Partners find purpose in helping those around them and the community as a whole.
Phoenix Wealth Partners
4606 Park Springs Boulevard, Suite 140
Arlington, TX 76017
10. Paladini Financial Advisors, LLC
Prior to its transformation in 2015, Paladini Financial Advisors operated under the name Paladini Financial Management, Inc since 2005. Matthew Paladini, founded both firms and remains Paladini’s principal owner.
Personal financial planning, investment and wealth management are Paladini Financial‘s core offerings and cover retirement planning, income tax planning, risk management, estate planning and more. Rather uniquely, Paladini does business and transition services specifically for dental practices.
With just three financial advisors, the firm manages nearly $144 million in assets for about 600 clients. These clients are high-net-worth individuals, individuals and retirement plans. Rather than impose a minimum investment requirement, Paladini has a minimum annual fee of $5,000 and is a fee-only firm. Each financial advisor holds a certified financial planner (CFP) designation and there is also a certified public accountant (CPA) and a certified valuation analyst (CVA).
Each new client receives an investment questionnaire to determine the clients’ exact risk tolerance, time horizon, income needs and investment goals. Paladini then firm constructs a portfolio plan that will maximize the client’s return potential for their risk level.
Paladini Financial Advisors, LLC
2015 East Lamar Boulevard
Arlington, TX 76006
The team providing this Top Ten list believes smart people make smart decisions because they educate themselves on the choices they are preparing to make. We hope we’ve helped you become smarter about choosing a financial advisor that meets your unique and specific needs. We try to provide readers with up-to-date information that will help make those good decisions. We hope you’ve enjoyed reading the information we’ve provided and learning about some of the choices for Financial Advisors in the Arlington TX area.
No content is intended to constitute professional advice. This content is not responsible or liable for any consequences relating directly or indirectly to any action you take or fail to take based on the information provided. It is very important to do your own analysis, based on your own personal circumstances, before making any investment. Consult with your own investment, financial, tax and legal advisers. Readers agree to indemnify and hold harmless the providers of this information, from and against any and all liability, losses, claims, demands, disputes, damages or costs of any kind.
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