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 financial advisors in Dallas go about managing your portfolio is much more important.
Many seek the advice of financial advisors in Dallas 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 those who start 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 workforce 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 financial advisors in Dallas. 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 advisors in Dallas 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 financial advisors in Dallas 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. This means it is important to understand the various options and payment structures when hiring financial advisors in Dallas. 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, financial advisors in Dallas 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 financial advisors in Dallas 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 advisors in Dallas.
Park Cities Group
At the Park Cities Group, financial planning is the core of everything. Park Cities Group, in conjunction with Steward Partners Global Advisory, selected Raymond James as a custodian and platform provider given their strong commitment to best-in-class technology and deep reserve of human intellectual capital. Backed by its world-class resources and cultural alignment, the firm is able to fulfill their mission to serve select, ultra-wealthy clients with the core tenets of integrity and trust. They deliver platinum-level client service with an unwavering commitment to excellence.
They start by listening and understanding clients’ specific life goals. They promise to be trustworthy and honest in all aspects of the business. The firm avoids any and all conflicts of interest and serves as their client’s advocate, watching over wealth and income sources.
They make every effort to seek out unbiased high-quality research. They personally hold each member of the team personally accountable for every task from investment transactions to returning phone calls promptly. They work with each client to establish clear goals and benchmarks for growth, income, liquidity, and taxes and take the time to explain investment recommendations and keep clients up to date with their progress. They always consider managing client’s wealth their profound responsibility. A life well planned…is a life well lived– Park Cities Group looks forward to working with clients to develop Your Plan For Life™.
Park Cities Group
1920 McKinney Ave #1150
Dallas, TX 75201
Kindred Stephens Financial Group, co-founders, Valli Kindred and Chad Stephens, have nearly 60 years of combined experience in the financial services industry. Many of their clients have been with them through multiple generations and clients understand the high level of service they get at Kindred Stephens Financial Group.
Most clients are family-oriented and care about the legacy they will leave to future generations of their own family. Their clients are charitable, friendly, and loyal members of the community. The firm finds them both sophisticated and ready to listen to what Kindred Stephens Financial Group has to say. The firm’s advisors carry strong relationships into work every day and provide customized investment planning for life’s major events. They also discuss life-long goals and dreams with clients and look at how all of those endeavors impact one another.
These discussions with clients help determine the appropriate asset allocation for investment portfolios and how allocations will change over time. They meet with clients at least annually to review investment plans and track progress toward goals.
Planning-Based Portfolio Management means using each client’s customized investment plan guides the firm to appropriate investment allocations and strives to realize life goals while minimizing risk. Our client base continues to grow Kindred Stephens Financial Group receives referrals.
Kindred Stephens Financial Group
2301 Cedar Springs Rd, Ste 400
Dallas, TX 75201
DFS Financial Consulting and Financial Service
Kevin E. Davis, CFP® , founded Davis Financial Services in 1983 because of the need for comprehensive financial services for individuals.
In an ever-changing financial climate, it can be difficult to confidently create a financial strategy or manage one that grows over the years. Without an up-to-date and flexible strategy in place, it can be difficult for independent investors to achieve goals.
Davis Financial Services (DFS) is an independent financial services firm dedicated to assisting clients with their greatest financial concerns. They offer comprehensive investment management and financial strategies coupled with objective advice and recommendations. The goal is to provide customized strategies that can grow with clients throughout the many milestones of life. DFS takes pride in knowing they have helped young professionals, growing families, and retirees pursue their financial dreams.
At DFS the purpose is to provide comprehensive financial consulting to meet clients’ needs and empower them to reach financial goals.
Davis Financial Services believes the teamwork approach adds a broader perspective to everything they do and provides increased benefits to clients that assist them in addressing investing principles and strategies, retirement investing and distribution strategies, estate conservation issues and risk management analysis.
The experienced professionals at DFS have helped many people with their issues and concerns. They like helping clients create an approach that is designed to address each individual situation.
9330 LBJ Fwy
Dallas, TX 75243
Lake Point Advisory Group
Money is one of the top two reasons for divorce and one of the top sources of stress. Lake Point Advisory Group has created a proprietary process for reducing anxiety and achieving goals. Very simply, they help couples and lead, guide and engage them to make better financial decisions. They reduce the stress their clients have about money.
Lake Point Advisory Group believes everyone should be able to live the retirement they’ve always wanted and the team of professionals help clients create a well-thought-out strategy, using a variety of investments and insurance products and services, to help address their financial needs and concerns. They aren’t just knowledgeable about finance; they also understand the importance of confidence in the financial future.
Investment advisers assess client’s financial situation and only make recommendations that are in your best interest, and we do so with integrity and transparency. Making money last throughout retirement can be a difficult puzzle and each client’s advisor helps put all of the pieces together to create a strategy that fits each client’s unique retirement needs and dreams.
Making good investments is only part of wealth management. The firm helps define and plan for your goals, such as income tax planning,
Social Security maximization, life insurance and asset protection. Advisors partner with clients and manage assets to grow wealth through solid investments and diverse financial portfolios. They act as advocates and provide wealth management advice. They partner with clients to grow wealth through solid investments and to construct diverse financial portfolios, guide them toward financial independence and give them the ability to sustain a comfortable lifestyle without worrying about running out of money down the road.
Lake Point Advisory Group
101 E Park Blvd, #600
Plano, TX 75074
Carter Financial Management
Few financial advisors in Dallas firms can claim the wisdom and perspective that comes from weathering more than 40 years of booms, busts, bulls, and bears – and fewer still possess the vision and fiduciary commitment to flourish through it all.
For over 40 years, the team at Carter Financial Management has offered client-centered financial planning and wealth management services to individuals, families, and business owners. Founded and based in Dallas, the firm serves clients in Houston, Chicago and many other parts of the country.
As fully independent wealth advisors, CFM’s financial planners take pride in the strength of their client relationships, the breadth of their advice, and the quality of their customized solutions. Dedicated to the highest level of client service, the firm offers a comprehensive financial planning process that can help address personalized, multigenerational financial objectives.
Carter Financial Management offers true ‘one-stop-shopping’ with equal strength in financial planning and wealth management. With 17 Certified Financial Planner professionals on staff, CFM is distinctly qualified to address a wide range of needs. CFM financial planners sculpt their client’s vision into a thoughtful and strategic plan and work to isolate financial risks and maximize opportunities.
Financial planners also include well-informed recommendations and guidance based on each client’s needs and monitor ongoing external influences such as tax rules, legislation, and economic and market shifts, to ensure that plans stays in line with market realities.
Carter Financial Management
12222 Merit Dr, Ste 1800
Dallas, TX 75251
McGowan Group Asset Management, Inc
McGowan Group Asset Management, Inc was founded in 2001 as a federally registered investment advisory firm and today manages over six hundred million in financial assets for individuals and businesses in Dallas. As the founder and owner of The McGowan Group, Spencer McGowan, actually lived the unique challenges of building wealth while building a business.
The McGowan Group helps clients build a diverse portfolio that achieves consistent cash flow for retirement, business growth and trusts. A team of advisors, each specialized in various investment areas, provide experienced asset management and personalized investment planning solutions with the ultimate goal of delivering superior client profitability through excellence in service.
The McGowan Group’s expertise extends across multiple investment categories: traditional safety in fixed income, high cash flow strategies, and growth with income and advisors meet with clients at least quarterly to maintain trust, evaluate performance and adjust goals. Although every client’s financial plan is unique, most clients are executives, investors, entrepreneurs and high-net worth individuals.
McGowan Group Asset Management, Inc
300 Crescent Ct, Ste 1776
Dallas, TX 75201
At 4Points Planning, whether retirement is five or fifteen years away, the goal is to help clients feel confident about their future and to pursue their vision of a comfortable retirement. Through a comprehensive approach, 4Points Planning develops customized retirement strategies that address clients’ individual needs and goals. The mission is to help make the transition more manageable and less stressful by building a personalized retirement strategy and offering ongoing support, unbiased advice, and objective guidance. As advocates of goals-based planning, 4Points Planning help align client’s financial strategies to their short- and long-term objectives.
They believe education and communication are essential for bringing clarity to clients’ decision-making. Those components are the foundation of 4Points Planning support. Scott McKay, is a CERTIFIED FINANCIAL PLANNER™ practitioner and has spent nearly two decades studying and navigating the often convoluted employer benefit plans in the Telecom, Defense Engineering and Federal Employee sectors. He has crafted customized planning processes designed to identify specific financial items that must be addressed and in every step, 4Points Planning provides strategic guidance to soundly manage client’s money, maximize their benefits, and achieve their goals.
10501 N Central Expy, Ste 300
Dallas, TX 75231 4
Ambrose Capital Management
Prior to founding Ambrose Capital Management, Connor Ambrose spent twelve years in the financial services industry and his exposure to multiple channels within the financial services industry, allows Connor to act as principal in most facets of a client’s financial picture. Connor brings a global perspective to business and risk management having grown up overseas before returning to the U.S. to complete his college studies. ACM is an independent financial services firm dedicated to working with a select group of families striving to solve the complex issues faced on the road to ones’ financial goals. ACM’’s disciplined process evaluates a client’s goals and current situation, with fully-customizable strategies to help meet desired financial objectives. By seamlessly integrating investment management and estate planning services, ACM is able to better serve clients’ financial legacies.
Knowledge is power. It’s also the foundation for intelligent, well-considered decisions. As financial professionals, ACM is committed to helping clients create solutions for their risk tolerance, time horizon and goals, ACM works diligently to develop a program that carefully balances investment strategies with preserving principal.
Today’s economic challenges bring opportunities and potential rewards. ACM works closely with clients to evaluate opportunities and get them in position to reap rewards and a solid financial foundation for the future.
Ambrose Capital Management believes their teamwork approach adds a broader perspective to all they do and provides increased benefits to clients.
Ambrose Capital Management
13155 Noel Rd, Ste 900
Dallas, TX 75240
Smith Anglin Financial
Since 1967, Smith Anglin Financial practice has built a reputation for delivering accurate, aggressive tax planning and accounting services for small business clientele and individuals. Smith Anglin Financial is a leading financial advisory firm based in Dallas and for over 25 years, the firm has served as trusted financial stewards to clients in 44 states and abroad, working diligently to help them achieve goals, dreams and financial security. Smith Anglin Financial’s mission is to conscientiously secure the financial well-being of our clients over the course of their lives.
These are the primary reasons clients place their trust in Smith Anglin every day. They help individuals and families make informed financial and tax decisions triggered by their unique life events that occur before, at and after retirement. Our services include financial planning, investments, tax planning, estate planning, survivor assistance and insurance.
Smith Anglin Financial
14755 Preston Rd, Ste 700 D
allas, TX 75254
Weaver, Ware & Martin
Weaver, Ware & Martin traces its history back to Ackley Financial Group, originally founded in 1980. Ackley was an “early adopter” of the holistic financial planning approach Weaver, Ware & Martin applies today.
Weaver, Ware & Martin is a group of financial professionals dedicated to the service and well-being of their clients and believe passionately in the power of proper financial planning to enhance the lives of clients and those who depend on them. Weaver, Ware & Martin are process-driven, but never forget that each client is unique. The firm’s solutions reflect that uniqueness as they help clients achieve their financial goals. The firm creates investment strategies designed to address your risk tolerance, time horizon, and goals and strives to strike a balance between work and leisure and all aspects of the wide-ranging lifestyle matters.
Weaver, Ware & Martin understands and appreciate the sensitive nature of financial matters and never takes the confidence placed in them for granted. Integrity, trust, responsiveness and service are the watchwords the firm operates by and the way they distinguish themselves in managing personal affairs while clients are alive and also how they operate while controlling the distribution of wealth upon a client’s death.
Weaver, Ware & Martin
15851 Dallas Pkwy, Ste 100
Addison, TX 75001
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 Dallas 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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