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 Austin 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?
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 Austin 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 Austin
Stone Asset Management, Inc.
Since 2004, Stone Wealth Management has provided clients with financial advice.
While Stone Asset Management, Inc. may be among the smallest firms on lists of top-rated Austin financial advisors, they offer an excellent depth of financial management expertise and provide amazing value to their clients. They are also a fee-only fiduciary firm. This firm is also a beacon for smaller investors and those just starting out. They have extremely flexible fee options and a welcoming demeanor. The firm’s GuideTrack service is a unique benefit that allows clients to receive financial guidance at a customized level. This service fills in the gaps for clients that do not need complete investment management but still want an ongoing relationship tailored to meet the level of support each client requires.
The focus on transparency and services for both low and high-net-worth clients make Stone Asset Management a competitive choice and one that has earned a 5-star rating.
Stone Asset Management, Inc. was founded in 2004 and believes in craft a personal Investment Policy Statement for clients before they invest a single dollar. This independent, fee-only financial planner is also a fiduciary, putting their client’s needs first always.
The team of experienced financial advisors at the firm gives clients clarity on their financial standing. Clients, who are not in the “high-net-worth” bracket, can find it difficult to get good wealth management because many of firms work only with higher asset clients. That isn’t the case with Stone. Clients don’t need to be ‘wealthy’ to benefit from working with Stone Asset Management. They’re open to working with clients at all income levels. They help chart a course to a successful financial future for all. Fees are both project-based and hourly financial planning rates, which allow clients to benefit from financial expertise without needing to meet income or investment requirements.
Stone Asset Management, Inc.
703 West 10th Street
Austin, TX 78701
Austin First Financial
Austin First Financial was founded in September 1997 by current president Scott Campbell. The company provides information and guidance to clients designed to help them invest smarter and grow savings for retirement. Austin First Financial is committed to serving Austin’s vibrant community, boosting client financial performance and keeping up-to-date with the newest trends in wealth management. Personal situation, income requirements, risk tolerance, long-term care needs, estate and charitable wishes are taken into consideration and from there, the firm creates a plan to work toward financial and retirement goals. Clients come to Austin First Financial with a lifetime of investments and savings that deserve the best level of service. The firm’s process balances insightful financial knowledge and key financial planning advice with top-notch client communication.
Preparing for retirement can be highly complex. Austin First Financial’s team of Retirement Income Certified Professionals can guide clients through the planning process while client enjoy their lives.
The firm specializes in structured income planning that focuses on minimizing the impact of emotional investments, increasing income to maintain purchasing power, minimizing risk, preserving principal and achieving projected results by keeping assets invested over long holding periods.
Consultation at Austin First Financial? Zero. Dollars.
Advisory fees, 0.4 – 1.35% of Assets under Management
Austin First Financial
1502 West Ave Ste 204
Austin, TX 78701
Sure Path Wealth Management
Sure Path Wealth Management got its start at large financial institutions. Though Patrick Brewer was making a solid income, he realized most of the financial management companies were designed to benefit shareholders — not clients. He and a few others who were also dissatisfied joined forces under one roof to create their own company. A different kind of company. A company without the restrictions of a Big Box Firm and with the freedom to truly impact clients’ lives. At Sure Path Wealth Management, they believe everyone deserves to understand their financial situation. Sure Path Wealth Management is committed to providing personalized advice when clients need it most.
The growing advisor team and behind-the-scenes experts deliver personal financial guidance to help clients simplify you’re their financial lives, make the best use of resources, and spend more time on what matters.
Sure Path services include Financial Planning, Tax Planning, Investment Management, Estate Planning, Student Loan and College Planning and Social Security Advice.
Clients get access to a partner CPA firm, insurance specialists, attorneys, and much more.
The partners are finance nerds holding the big three credentials: CFA, CPA, CFP. Together, the have over six decades of cumulative experience. But at the core, they are human– like their clients. They understand the emotions that can be a big driver of financial decisions but realize emotions can also lead people down the wrong path. They are available help clients sort through the emotions and build a real, actionable, customized plan for what matters most.
Get ready to experience the Sure Path difference!
Sure Path Wealth Management
11801 Domain Blvd Fl 3
Austin, TX 7875
The Art of Finance
Philip and Julia Olson, both creatives, created The Art of Finance in 2015 to provide something special: clear, empathetic financial coaching and planning that’s actually effective. Philip was approached by a financial services recruiter who said, “This industry needs more people like you — a people person.” So he was inspired to make a difference in a notoriously un-caring industry.
He received his Certified Financial Planner certification (CFP®) in 2015. Julia spent five years in the mortgage industry where her number-crunching skills were honed. She was inspired to create something different and they eventually decided to build their own firm, focused on empowering fellow creative types to take command of their money.
Finances aren’t just about numbers. It’s really all about emotions. Those things make The Art of Finance unique. They don’t make commissions or peddle any financial products. And certain foundational truths dictate financial wisdom, but the Olson’s don’t come to work with super hard rules. Each person’s relationship to money is unique. They honor that.
The firm work with hundreds of people from all walks of life: tech industry designers, massage therapists, writers, podcasters, festival runners, and CFOs. Most clients are between the ages of 25-45 and deal with unique income structures. Clients eager to look at finances through a holistic lens and are open to change will be a perfect fit at The Art of Finance.
The Art of Finance
5541 McNeil Dr Bldg B, Ste F
Austin, TX 78729
Worth Pointe is a fee-only financial advisor firm whose owners each hold a Certified Financial Planner designation. They have decades of combined industry experience. Worth Pointe caters to persons of high net worth, people nearing retirement, trusts and similar clients and it is affiliated with the National Association of Personal Financial Advisors and Financial Planning Association.
As a leader in wealth management, Worth Pointe takes the time to invest in a team of experts with the experience, knowledge, and the commitment to put clients first.
Worth Pointe’s strong commitment to clients is reflected in their wide range of services. Their financial planning dashboard sets them apart as a firm that takes advantage of technology to make clients’ lives easier and their finances simple to monitor. The Worth Pointe team is truly invested in offering comprehensive, client-centric services. This solidifies the firm’s 5-star rating and ranking as being among the best financial advisors in Austin.
A Worth Pointe financial advisor is focused on each client to create a custom solution uniquely designed to fit that client’s needs. As life shifts and grows, the firm’s financial advice help prepare for milestones ahead and helps sidestep financial blunders. The Worth Pointe 360 dashboard allows clients to take their financial peace of mind wherever they go. All investments, accounts, insurance profiles, credit cards, important documents, etc., are readily accessible 24/7 around the globe. The client is also proactively coached and monitored as they move toward goals.
Worth Pointe’s investment philosophy is straightforward and transparent. They strive to be diversified, low cost and tax-efficient while emphasizing the three key company factors—size, price and direct profitability. All are associated with higher returns and more expected return for less risk.
The team of CERTIFIED FINANCIAL PLANNER™ professionals ensures that all bases are covered, so clients can realize every applicable legal benefit. The investment philosophy and approach are essential factors that allows the most comprehensive financial planning/wealth management services possible for clients.
6836 Bee Cave Rd, Suite 210
Austin, TX 78746
Astoria Strategic Wealth
For over 20 years, Astoria Strategic Wealth (formerly known as Pauley Financial) has helped affluent individuals and families achieve the life they envision. This firm is a fee-only, fiduciary financial advisor commits to the principals of always putting their client’s interests first, being honest, forthright, and transparent, and exceeding continuing education requirements.
This top-rated financial advisor serves medical professionals, business owners, independent women, young professionals, mid-career professionals, and those nearing or already in retirement.
The leadership team at Astoria Strategic Wealth brings a range of educational backgrounds, career experience and personalities to the table. Backgrounds include former U.S. military service as well as business and mathematics expertise.
Astoria Strategic Wealth believes in helping women achieve financial freedom and reach goals. This firm understands that independent women have distinct financial realities, including longer life spans and a greater likelihood a break from the workforce for family responsibilities.
Astoria Strategic Wealth is fully prepared to answer any financial questions. The firm is not one of that is simply interested in their clients’ money and making the decisions for you. This wealth management firm believes in educating clients on the process so client can fully understand options and make informed decisions.
Holistic Financial Planning and Investment Management includes things like risk, Investment Costs, Diversification, Taxes, Behavior, Goals, and a client’s portfolio should have a purpose. Evaluating the portfolio in the context of an overall financial plan provides vision and accountability for the goals that are important to each client.
Astoria Strategic Wealth Review
100 Congress Avenue, Suite 2000
Austin, TX 78701
Insogna CPA, PC
Insogna CPA is an integrated team of experts driving prosperity. The firm serves small businesses under $20M with year-round accounting, tax strategy, and wealth building by creating customized monthly packages to help grow the business and assist with individual taxes. The highly trained team of professionals address immediate business needs and plan for the future.
The experts at Insogna CPA continually study changing tax policies and tax saving strategies to help minimize the burden of filing taxes and to maximize tax deductions.
Their Wealth Builder strategies protect and grow financial assets for the future. The firm’s professionals understand what it takes to manage wealth in a complex global economy and help clients protect and grow their financial assets for tomorrow by enabling them to make careful financial decisions today.
Building a comfortable future starts with a plan. The year-round wealth management experts analyze the client’s tax structure, risk tolerances, estate considerations and financial goals to deliver a clear course of action to take to protect wealth.
Insogna CPA outlines core portfolios with increased liquidity that complements illiquid and narrow asset classes, gain access to private, non-liquid opportunities, strategically employs both active and passive tactics to grow investment portfolios, creates diversified portfolios based on a reliable method of asset allocation, meet client risk-tolerance levels with diversified risk/return mandates within the portfolio, formulate structured note solutions that work in the client’s best interests through a fiduciary process and accesses individual tax-exempt bonds through cost-efficient, third-party account solutions.
Insogna CPA, PC
3355 Bee Cave Rd
Austin, TX 78746
Suzette Blackburn started her retirement planning career in 1989 with a firm that researched and developed long-term care insurance policies. While working as a health care coordinator, she discovered that many of the people she cared so much about never fully planned for their retirement years. Realizing that she had both the caring demeanor and the specialized knowledge to help them, Suzette turned her attention toward a new career in financial and estate planning strategies. Since 1995, CapStar Financial has developed a foundation of trust, communication and reliability with each client. The team behind CapStar Financial is made up of qualified financial professionals who are passionate about helping clients achieve their ideal retirements.
Suzette draws from more than 25 years of experience in retirement planning to research clients’ needs and offer the best solutions for their customized retirement plans. Suzette guides clients in building customized financial portfolios without the feel of Wall Street corporations directing decisions.
At CapStar Financial, they believe everyone should live the retirement they’ve dreamed about. The team of professionals helps create a well-thought-out strategy, using a variety of investments and insurance products and services, to help address clients’ financial needs and concerns. Personalized service is their promise.
Through careful financial analysis, the advisors can clearly define clients’ current situation, provide alternatives and inform all about what can be done to avoid potential problems stemming from tax exposure and excessive risk.
6500 River Place Blvd Bldg 1
Ste 200 Austin, TX 78730
Parrott Wealth Management, LLC
Bill Parrott started his investment career in May of 1989 in San Diego and founded Parrott Wealth Management in 2009 after a long career as a Financial Consultant with various national firms from California to Massachusetts, settling eventually in Austin.
Parrott Wealth Management is an independent, fee-only, fiduciary financial planning, and investment management firm serving families and individuals. Their mission is to remove confusion, complexity, and worry from the financial planning and investment so clients can pursue a life of purpose. Though located in Austin, the firm has clients across the country.
PWM help clients answer questions like: How much money will I need? Will it last? The firm primarily works with individuals in, near, or contemplating retirement. They help clients achieve dreams enjoy their next adventure.
PWM are fiduciaries, legally bound to act in a client’s best interest. You’ll find scripture like this–May He give you the desire of your heart and make all your plans succeed. ~ Psalm 20:4—laced through their website.
The firm’s motto is Plan. Invest. Repeat. ™
Parrott Wealth Management, LLC
6500 River Place Blvd Bldg 7, Ste 250
Austin, TX 78730
Barnett Financial/The Mather Group
Barnett Financial offers fee-only services to select individuals and families, helping them make strategic long-term financial decisions to plan for the future and make investment management choices that maximize return. The boutique firm operates on five principles: to develop a deep understanding of their clients’ financial goals; to provide them with tailored advice; to act as a trusted sounding board; to align the firm’s interests with the client’s; and to offer a holistic, simplified service.
On May 29th, 2020, Barnett Financial became a part of The Mather Group, LLC, a tech-forward, nationally recognized Registered Investment Advisor (RIA). TMG shares the same business values, investment philosophy, and commitment to integrity, transparency and high-touch service that Barnett Financial has always followed. TMG will deliver a deeper bench of professionals and resources that’ll improve the overall client experience.
With a total focus on serving clients, The Mather Group will find cost-effective investment strategies that will put more of their clients’ money where it should be—in your investments, not in a broker’s pockets. Without commissions and hidden fees, portfolio will have more money growing in retirement with a method that lowers cost when compared with various mutual fund portfolios.
Every path to retirement is unique. The Mather Group Retirement Roadmap is a proprietary methodology used to create a portfolio for each client that is flexible enough to account for lifestyle and market changes. The firm attempts to model each client’s investments against any possible changes economic cycles, lifestyles and family needs to ensure that the framework remains dynamic and flexible over the long term. Annual reviews ensure that the portfolios stay the course.
Barnett Financial/The Mather Group
7000 N Mo Pac Expy Ste 495
Austin, TX 78731
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 Austin 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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