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.
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?
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 Houston 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.
The following are the best financial planners in Houston, Texas:
Taking an integrated approach to wealth management, Greenbriar Financials’ goal is to assist clients with life planning. The firm incorporates both financial and psychological components into each financial plan and, besides, Comprehensive Financial Planning, can include things such as Severance Package Consultation and Divorce Financial Analysis. Greenbriar Financials’ fee structure is fee-only.
For its Trust Service, the firm works with an associate, LPL Financial, one of the nation’s leading financial services companies. Greenbriar Financials’ retirement plan tools are designed to deliver value and improve participant outcomes.
Greenbriar Financial offers a unique approach to wealth management for individuals, families, retirees, trusts, charities, and privately help businesses and pledges to provide personal, objective, competent, and confidential financial planning services.
Greenbriar Financial offers custom-tailored services of value and assists clients in addressing their overall financial objectives, using client interaction to define values and their risk tolerance. The firm assists with Life Planning, beginning with investment strategy and tax consequences of any changes. Asset allocation is the cornerstone and other areas, asset protection, disability, elder care, income planning and estate management are integrated. The firm works to create a system of communication that meets each client’s needs and expectations. Everything shared remains completely confidential unless explicit permission is given to share information with other advisers such as lawyers, accountants and/or family members. Our staff is an integral part of the high level of client service and constant education helps each staff member to serves a particular niche or role, who then works with the team to deliver quality service.
801 Travis, Suite 1900
Houston, TX 77002
Linscomb & Williams
Linscomb & Williams has been in business for almost 50 years, which lends to having one of the most experienced teams in the area. The firm offers a wide range of services and each client receives an individually tailored plan that best meets their needs.
A minimum initial investment of at least $1 million is required with an all-inclusive fee one time and a charge of 1% annually for every $0 to $2 million investment, there are no additional charges for queries with advisors and no extra fees or commissions charged for financial products—which the firm does not sell. The goal is to help clients improve their financial literacy.
The firms excels in retirement, estate and tax planning. There are certified financial planners (CFPs), chartered financial analysts (CFAs), certified public accountants (CPAs) and an accredited investment fiduciary (AIF) and accredited estate planner (AEP) on staff.
Despite the high account minimum, the majority of clients are not high net worth individuals. The firm does serve high-net-worth investors, pensions, profit-sharing plans, and corporations.
LINSCOMB & WILLIAMS
1400 Post Oak Blvd Suite 1000
Houston Tx, 77056
Chilton Capital Management, LLC
Named Top Financial Advisors by The Financial Times in 2015 and Top Wealth Management Firm by the Houston Business Journal in 2017, Chilton Capital Management offers a wide array of financial services with an immense expertise in not only providing wealth advisory and management services, but also as a trusted investment advisor. Chilton has its own software, Wealth ePath, which lets clients examine their assets, liabilities, income, expenses, and savings, which helps clients meet the goals they set. Short-term or long-term goals, this software makes sure clients are the right track and will advise if they are not.
Founded in 1996, Chilton provides a full range of investment services to individuals, family offices, business owners, endowments, foundations, retirement plans and trusts. The firm is an independent, employee-owned organization of seasoned professionals dedicated to client service, education, and peace of mind. The fee structure is fee only on assets under management with no commissions for selling products and allows for transparency and objectivity.
The Chilton staff shares a passion for innovation with an avid commitment to traditional methods of security analysis, research, risk management and shared experiential knowledge.
Chilton Capital Management
1177 West Loop South, Suite 1750
Houston, TX 77027
Goff Financial Group
For over 20 years, Goff Financial Group, has been a top-rated Houston wealth management firm with a team of financial planning experts dedicated to helping customers build a strong, secure future at every stage of life. The company provides customized service to individuals, retirees, executives, and couples to help make wise financial decisions and choose profitable investments designed to maximize returns and ensure future security. The company’s financial advisors have in-depth knowledge about an extensive range of investments and the fee-only service ensures there are no conflicts of interest as they offer customized solutions, based on the client’s distinct needs, long-term objectives, and risk comfort level.
The Goff Financial Group believes sound relationships are founded on trusted and clear communication. Their simple strategy is planning goals, reviewing portfolios, and working towards goals.
The Goff Financial Group specializes in assisting energy executives and offers a long-term partnership to guide and bring clarity and comfort to client’s finances and offer solid, non-biased advice designed to build financial confidence.
Goff Financial Group
11 Greenway Plaza, Suite 1425
Houston, Texas 77046
713 850 8900
The Financial Advisory Group
The Financial Advisory Group is there to help clients achieve and maintain financial independence. The experienced professionals from diverse backgrounds take pride in assisting clients with wealth management, as well as delivering customized service in investment management, financial planning, tax, and family office services.
The Financial Advisory Group stands for the three “E”s: education, ethics, and empathy and the firm deliver technical competency, empathy for clients, multi-generational planning, and customized services within a culture of compliance.
Clients from both the Houston area and nationwide, benefit from the mix of services tailored to meet each client’s specific needs. The firm integrates their services to create an efficient client experience.
The firm offers a fee-only basis and do not make commissions or receive referral fees based on the advice provided. The broad array of options lends confidence that the firm is working in each client’s best interests to help them achieve financial goals.
The Financial Advisory Group provides quarterly reviews that include investment commentary, historical performance compared to investment indices, and economic outlook analysis. The full range of services includes tax preparation and Family Office.
The team at The Financial Advisory Group has a mission to help clients achieve and maintain financial independence. The firm’s tailored and integrated approach helps make that achievable.
Financial Synergies Wealth Advisors
Financial Synergies Wealth Advisors provides professional, affordable wealth management services for any customer’s needs and budget. The company serves individuals, families, and business owners and provides innovative strategies and timely advice to help customers secure a bright financial future. Services include comprehensive financial planning, investment management, and employee retirement plan consulting. Everything is customized for each customer’s unique goals and vision.
For more than three decades, Financial Synergies Wealth Advisors has been providing expert financial guidance and offers fee-only financial planning. The firm is a top-rated choice as an independent financial advisor that offers clients the freedom to choose the best investment products and strategies for their needs.
The firm’s Pathway® Program is tailored for clients that are in the beginning stages of wealth-building and is designed to help develop a tailored savings and investment strategy.
Leading-edge technology provides a full picture of financial health and has two key elements as part of the program: Personal Financial Planning and Investment Management.
Financial Synergies Wealth Advisors does not receive any commissions or compensation from third parties, which gives clients the assurance that the advice is completely free of conflicts of interest, transparent and always in the client’s best interest.
Financial Synergies Wealth Advisors offers clients the “full package” including a fully integrated approach to a total wealth management system.
Financial Synergies Wealth Advisors
4400 Post Oak Pkwy #200
Houston, TX 77027
832 371 9945
The Mather Group
Focused exclusively on its clients and their success, The Mather Group offers low-cost fee-only guidance and no hidden fees. With 15 offices throughout the United States, the firm is dedicated to providing unbiased advice in its clients’ best interests.
The Mather Group TMG Retirement Roadmap™ takes into consideration that everyone’s retirement planning path is unique and helps ensure a custom plan designed to match lifestyle and market changes. It guides clients through developing a unified and secure framework for retirement. The firm’s advisors monitor clients’ portfolios and adjust as needed.
One of the unique financial planning services that makes The Mather Group unique is its expat services to U.S. citizens living abroad, including wealth management, optimal banking management, tax services, and retirement planning.
The Mather Group is full-service wealth management that offers extras that clients won’t find elsewhere and is dedicated to keeping costs low and services tailored.
With a commitment to always put the client first, makes The Mather Group a financial advisor to consider.
The Mather Group
4400 Post Oak Parkway, Ste 2330
Houston, TX 77027
Gessner Wealth Strategies LLC
Gessner Wealth Strategies LLC gives customers the advice and support they need to make wise financial decisions. The firm’s financial advisors and planners use an evidence-based approach to help grow and protect clients’ assets and wealth, and plan for a secure future. Personalized retirement, insurance and long-term care planning, tax-minimizing strategies, and college savings planning are part of the firm’s services. No matter the customer’s needs and goals, the budget friendly, professional experts at Gessner Wealth Strategies LLC are ready to help.
The firm’s advisors work to understand each client’s money and life and help visualize the next chapters, based on what’s important to each of them. They help put all the pieces together to help make smart decisions. Because money is tied to all aspects of life, the firm wants to be the first call when an important decision comes up. They are passionate about building long term relationships with clients.
The firm is independent which means they put clients’ interests ahead of their own.
Gessner Wealth Strategies, LLC do not hold client assets but instead use highly reputable firms, such as TD Ameritrade, for important checks and balances. The firm is strictly in charge of recordkeeping and custodial services such as statement preparation and tax reporting documents. The custodian is charged with safekeeping of clients assets and clients always have access to their money. Portfolios are based upon Nobel prize-winning academic research and a growing body of knowledge that shows the advantages of a well-diversified portfolio, as opposed to stock-picking and market timing.
Tanglewood Total Wealth Management
Tanglewood Total Wealth Management works with individual investors– both high and low net worth–as well as corporations, charities, pensions, and profit-sharing plans and six certified financial planners (CFPs) and one chartered financial analyst (CFA) on staff.
The minimum investment requirements vary from service to service. Individual wealth management clients, for example, need at least $2 million in investable assets. Investment management clients need $500,000. Institutional clients have a minimum investment of $3 million. The firm is compensated only through asset-based management fees, not commissions or other hidden charges.
Founded in 1979, Tanglewood Total Wealth Management is designed to meet clients’ individual needs and priorities and accomplishes this through its signature service, which strives to inspire “uncommon confidence” in its clients.
Tanglewood’s investment management services begin with a two-part process, first establishing a pre-determined mix of stocks and fixed income. Once that ratio is set, the second part is evaluating and selecting assets to allocate client’s assets to each individual class. Tanglewood primarily uses domestic stocks, international stocks, real assets, bonds, and cash. Each client has an investment policy statement that specifies risk aversion and their rate-of-return for their portfolio. No cookie-cutter portfolios here at this wealth management firm. This team designs smart, creative, and expertly crafted financial strategies.
Tanglewood’s Total Wealth Management approach ensures that every client has a personally tailored financial plan.
The expert financial advisors at Tanglewood work to inspire an uncommon level of confidence and trust by keeping things simple, clear, and candid.
Taking a truly client-centered approach in all it does, Tanglewood Total Wealth Management works to turn client questions about finances into solid decisions and a strong path forward with Signature Service and a fully integrated approach to financial planning and wealth management,
Tanglewood Total Wealth Management
1400 Post Oak Boulevard, Suite 800
Houston, TX 77056
Horizon Advisors provides individuals, families, and business owners with personalized attention and superior wealth management strategies with experienced financial planners and advisors, who work to ensure a customer’s assets and investments are safe and secure. They strive to offer strategic solutions to help customers make wise decisions for their secure financial future.
The principals of Horizon Wealth Advisors have many years of experience and have served clients since 1985.
Each member of the team at Horizon plays a critical role in the execution and delivery of the firm’s unique wealth management process. They are experienced and committed to providing clients with excellent advice and service. As a privately owned, fee-only financial advisor, clients’ interests are always top priority and the advisors are very proactive and responsive to each client’s unique needs. They help clients understand, organize, and manage often complex financial situations with recommendations that are independent, objective, and based solely on what is best for that particular client.
Serving clients of all wealth levels since 1999, Horizon Advisors is a privately owned, fee-only financial advisor and the firm works with the partner CPA firm, Maddox, Thomson & Associates. The firm’s core values include integrity, discipline, service, learning, and advocacy and their mission is to forge a long-term relationship with each client.
Financial advisors at Horizon Advisors approach wealth management as an ongoing process that is collaborative and ever evolving, with active management many investors look for when seeking financial planning.
Financial planning acts as the foundation for the wealth management and the firm’s process includes understanding the client, organizing, and reviewing the client’s existing financial situation and managing a plan, then monitoring it to make changes as needed.
This team of financial advisors assists clients in identifying personal and financial objectives and creating a tailored plan to achieve them.
Horizon Advisors’ approach ensures that each client has a fully integrated financial strategy, including integrated tax planning and retirement planning.
Horizon Advisors have a strong commitment to tailored solutions and a comprehensive financial management process.
2603 Augusta, Suite 1400
Houston, TX 77057
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 *** 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.