How MagnifyMoney Gets Paid

Advertiser Disclosure

Investing

Best Financial Advisors in Kansas City 2021: Fees and Services

Editorial Note: The content of this article is based on the author’s opinions and recommendations alone and is not intended to be a source of investment advice. It may not have not been reviewed, commissioned or otherwise endorsed by any of our network partners or the Investment company.

Written By

Reviewed By

When it comes to finding a financial advisor in Kansas City, options abound, but it also may be hard to narrow it down given the number of financial advisors in Missouri’s biggest city. To make sure you get it right, you’ll want to consider your personal financial needs and goals as well as how much you’re willing to spend on a financial advisor’s services.

Once you figure that out, you’re still left with the task of comparing firms and data points though, which can be a slog. In the hopes of making it easier, we compiled information on the top registered investment advisors in Kansas City. To create this list of the best advisors in Kansas City, we focused on firms that manage individual accounts and offer financial planning services. We then ranked these firms based on assets under management (AUM), which serves as a general metric for the firm’s size, and client-to-advisor ratio, which indicates how much attention you may get as a client.

Our ranking won’t tell you which firm may be best for your unique needs, but it can help you make that determination. Check out our list below for the top firms in Kansas City and their key highlights:

8 best financial advisors in Kansas City

Methodology and criteria

For our search, we looked at firms across Kansas City. All of the firms considered are bound by fiduciary duty, registered with the U.S. Securities and Exchange Commission (SEC) and offer individual account management and financial planning services.

The firms that met this criteria were ranked based on their AUM and client-to-advisor ratio. These criteria are weighted equally in our scoring metrics. Firms with a higher AUM and lower client-to-advisor ratios garner higher scores. Our ranking system is designed to help compare firms but does not indicate which firm may be best for you.

In our reviews, we’ve listed several other key features that will help you determine which financial advisor is most fitting for your investing style and financial needs. It is important to note that we did not include disciplinary disclosures as a metric for our ranking. We have listed any disciplinary disclosures current as of December 10, 2020, but urge you to evaluate these firms on https://adviserinfo.sec.gov/.

1. Prairie Capital Management, LLC

Find an Advisor

  • Minimum assets required: Not stated
  • AUM: $5,027,456,952
  • Individual investor to advisor ratio: 11:1
  • Fee structure: 
    • A percentage of AUM
    • Hourly fees
    • Fixed fees
    • Performance-based fees
  • Firm phone number: (816) 531-1101
  • Headquarters address:
    4900 Main Street, Ste. 700
    Kansas City, MO 64112

About Prairie Capital Management, LLC

Brian Kaufman, Curtis Krizek and Rob Schneider founded Prairie Capital Management, LLC in 1995. All three remain managing directors at the firm, but they sold it to its current owner, UMB Financial Corporation, in 2010.

The firm offers investment management, financial planning and various family offices services to primarily high net worth individuals, who the SEC defines as those with at least $750,000 under management or a net worth of at least $1.5 million. The firm also works with some institutional investors, including pooled investment vehicles and corporations and other businesses.

In addition to its headquarters in Kansas City, Prairie Capital Management has offices in Chicago and Dallas.

Prairie Capital Management, LLC investing strategy

Prairie Capital Management’s investment strategy revolves around constructing custom portfolios for each client consisting of investments with multiple managers and using multiple strategies. The firm aims to find the best third-party managers and investments in each asset class, including both traditional and alternative investments, as well as both active and passively managed securities.

Many of the third-party managers with whom Prairie Capital Management invests client portfolios are closed to or have a limited ability to accommodate new outside investors. The firm continuously monitors those managers’ performance and makes allocation adjustments as necessary.

Prairie Capital Management, LLC disciplinary disclosures

Prairie Capital Management does not disclose any disciplinary actions, meaning it has a clean record. For reference, the SEC requires registered investment advisors to disclose legal or disciplinary actions in their Form ADV, which they must file every year. This includes any actions against the company, an employee or an affiliate that have occurred in the last 10 years. For more information on Prairie Capital Management, visit the firm’s IAPD page.

2. Frontier Wealth Management, LLC

Find an Advisor

  • Minimum assets required: Generally no set minimum, with the exception of the funds
  • AUM: $3,052,309,014
  • Individual investor to advisor ratio: 63:1
  • Fee structure:
    • A percentage of AUM
    • Hourly charges
    • Fixed fees
    • Performance-based fees
  • Firm phone number: (816) 753-5100
  • Headquarters address:
    4435 Main Street, Ste. 650
    Kansas City, MO 64111

About Frontier Wealth Management, LLC

Principal and CEO Nick Blasi has led Frontier Wealth Management since 2009, two years after the independent firm was founded. The firm is owned by Frontier Wealth Enterprises and some of the firm’s employees, including Blasi.

Frontier Wealth Management offers financial planning and investment management services, primarily to individuals who are not considered high net worth. However, it does also serve some high net worth individuals as well as various institutional investors, including pension and profit-sharing plans, businesses, charitable organizations and pooled investment vehicles.

In addition to its Kansas City headquarters, Frontier Wealth Management has eight additional offices located throughout the country.

Frontier Wealth Management, LLC investing strategy

Frontier Wealth Management uses the principles of asset allocation and modern portfolio theory, which emphasizes maximizing returns while minimizing risk, to create customized portfolios that are tailored to each individual client’s needs. When creating a diversified portfolio, the firm takes each client’s objectives into account, making adjustments for factors, such as the need for investment income, tax efficiency and risk appetite.

In addition to traditional investments, such as stocks, bonds and funds, Frontier Wealth Management may also recommend that clients invest in alternative investments, such as private equity funds, hedge funds, venture funds or structured products.

Frontier Wealth Management, LLC disciplinary disclosures

Frontier Wealth Management lists no disclosures over the last 10 years, giving the firm a clean disciplinary record. The SEC requires all RIAs to disclose on their Form ADV paperwork any disciplinary actions against the company, its employees or its affiliates that clients would find material in their evaluation of the firm or its management team.

To view the firm’s Form ADV and learn more about its disclosure, visit Frontier Wealth Management’s IAPD page.

3. Tower Wealth Managers

Find an Advisor

  • Minimum assets required: Not stated
  • AUM: $1,819,291,168
  • Individual investor to advisor ratio: 3:1
  • Fee structure:
    • A percentage of AUM
  • Firm phone number: (816) 859-7520
  • Headquarters address:
    One Ward Parkway
    Kansas City, MO 64112

About Tower Wealth Managers

Founded in 2007, Tower Wealth Managers is a wholly-owned subsidiary of Country Club Trust Company, which in turn is owned by Country Club Bank. The firm offers financial planning and investment management services to individuals, as well as some institutional investors.

In addition to its Kansas City headquarters, Tower Wealth Managers has an office in Prairie Village, Kansas.

Tower Wealth Managers investing strategy

While Tower Wealth Managers takes individual financial situations into account when building client portfolios, it usually creates an asset allocation strategy for its clients based on its portfolio models. The firm builds these models using modern portfolio theory to create diversified portfolios aimed at reducing risk and volatility.

The final investment decisions for each client will reflect their preferred management style and the platform on which they hold their assets. In general, portfolios may include individual equities, bonds, mutual funds and ETFs, among other investments.

Tower Wealth Managers disciplinary disclosures

Tower Wealth Managers does not disclose any disciplinary actions on its Form ADV, meaning it has a clean record. For reference, the SEC requires all registered investment advisors to disclose legal or disciplinary actions in their Form ADV, which they must file every year. This includes any actions against the company, an employee or an affiliate that have occurred in the last 10 years. For more information, visit the firm’s IAPD page.

4. American Century Investments Private Client Group, Inc.

Find an Advisor

  • Minimum assets required: Not stated
  • AUM: $550,366,747
  • Individual investor to advisor ratio: N/A
  • Fee structure:
    • A percentage of AUM
  • Firm phone number: (800) 345-2021
  • Headquarters address:
    4400 Main Street
    Kansas City, MO 64111

About American Century Investments Private Client Group, Inc.

Founded in 2017, American Century Investments Private Client Group, Inc. is a wholly-owned subsidiary of American Century Companies, a financial services company founded by the late billionaire and philanthropist James E. Stowers, Jr.

The company’s private client group provides investment management to individuals, trusts, estates, charitable organizations and business entities. Specifically, the firm offers the Planner Service, which provides point-in-time advice, including an investment plan, consisting at least in part of American Century Investment Private Group’s mutual funds.

In addition to its headquarters in Kansas City, American Century Investments Private Client Group has another Kansas City location, as well as offices in Leawood, Kansas, and Mountain View, Calif.

American Century Investments Private Client Group, Inc. investing strategy

American Century Investments Private Client Group takes each client’s financial situation into account and recommends one of its five model portfolios based on various levels of risk tolerance. The firm’s Planner Service is provided on a non-discretionary basis, meaning that once American Century Investments give clients an investment plan, it is up to the client to implement the plan, either directly or with accounts held with other brokers, dealers or advisors.

The firm’s asset allocation recommendations reflect diversified model portfolios that range from very aggressive, all-equity portfolios, to more conservative strategies with less exposure to stocks. The equity portion of each model portfolio aims to include diversity across company size, sector and geographic region.

American Century Investments Private Client Group, Inc. disciplinary disclosures

American Century Investments Private Client Group does not disclose any disciplinary actions on its Form ADV, meaning it has a clean disciplinary record. This includes any civil, criminal or regulatory actions against the company, its employees or its affiliates from over the last decade. For more information, visit the firm’s IAPD page.

5. Buttonwood Financial Group, LLC

Find an Advisor

  • Minimum assets required: No set minimum
  • AUM: $459,565,491
  • Individual investor to advisor ratio: 56:1
  • Fee structure:
    • A percentage of AUM
    • Hourly charges
    • Fixed fees
  • Firm phone number: (816) 285-9000
  • Headquarters address:
    3013 Main Street
    Kansas City, MO 64108

About Buttonwood Financial Group, LLC

The primary owner of Buttonwood Financial Group, LLC, Jon McGraw, has served as the firm’s president and CEO since its founding in 2002. The firm provides wealth management and financial planning, as well as “Family CFO” services, which may include bill pay, the management of domestic staff, business strategy consulting and estate and philanthropic planning.

The firm has one office, in Kansas City, Mo., and it caters primarily to individuals and high net worth individuals, though it also serves a small number of business and charitable organizations.

Buttonwood Financial Group, LLC investing strategy

Buttonwood Financial Group analyzes securities to make portfolio recommendations using a “multigenerational” approach that takes into account potential challenges that could arise decades into the future. The firm typically takes control of the day-to-day management of client accounts, in what is known as a discretionary relationship.

To evaluate potential securities, the firm uses traditional fundamental and technical analysis, which look at economic and industry conditions and past price patterns, respectively. The firm may also communicate with other investment managers and use research materials to make its assessments. Portfolios primarily include both long- and short-term securities purchases.

Buttonwood Financial Group, LLC disciplinary disclosures

Buttonwood Financial Group has no disciplinary disclosures to report, meaning that neither the firm nor its employees or affiliates have faced any civil, criminal or regulatory issues within the last 10 years. For more information, visit Buttonwood Financial Group’s IAPD page.

6. Sterneck Capital Management LLC

Find an Advisor

  • Minimum assets required: $500,000
  • AUM: $225,941,726
  • Individual investor to advisor ratio: 57:1
  • Fee structure:
    • A percentage of AUM
    • Fixed fees
  • Firm phone number: (816) 531-2254
  • Headquarters address:
    4510 Bellevue, Ste. 204
    Kansas City, MO 64111

About Sterneck Capital Management LLC

Frank Sterneck founded Sterneck Capital Management as a Wall Street hedge fund in 1989, but later moved the firm to Kansas City and transitioned the business to individual-level financial planning and wealth management. Sterneck remains the owner of the firm and serves as CEO. Sterneck’s wife, Robin Sterneck, has been the firm’s president since 2014.

The firm primarily serves individuals and high net worth individuals, including early career professionals, professional families, those about to retire and those who have already retired from its Kansas City office. It generally requires a minimum portfolio size of $500,000.

Sterneck Capital Management LLC investing strategy

Sterneck Capital Management believes that the keys to successful investing are diversification and discipline. Thus, the firm creates customized portfolios for its clients that offer diversification across and within asset classes, and strives to continuously re-examine and adjust investment decisions as the economic environment changes. In general, the firm states that it “often buys on weakness and sells on strength,” operating with a focus on the long term.

The firm invests in both equity-oriented and fixed-income securities. Additionally, it may use margin to help clients cover short-term cash needs.

Sterneck Capital Management LLC disciplinary disclosures

Sterneck Capital Management Investments has no disclosures to report. The SEC requires that all registered investment advisors report such events — including any civil, criminal or regulatory actions against the firm, its employees or its affiliates — in their Form ADV paperwork. For more information, visit Sterneck Capital Management’s IAPD page.

7. The Planned Approach

Find an Advisor

  • Minimum assets required: $2 million
  • AUM: $206,422,156
  • Individual investor to advisor ratio: 42:1
  • Fee structure:
    • A percentage of AUM
    • Fixed fees
  • Firm phone number: (816) 941-0098
  • Headquarters address:
    429 98th Street
    Kansas City, MO 64114

About The Planned Approach

Financial advisors Stephanie Guerin and Kelly Hokanson founded The Planned Approach in 2002 in Prairie Village, Mo. In 2016, they moved the business to Kansas City, Mo., and added a third owner, financial planner Staci Peterson.

The firm offers financial planning and wealth management to investors with incomes over $300,000 ($200,000 for single filers) or investable assets of at least $2 million. Its client base includes individuals who do and do not meet the SEC’s definition of high net worth.

The Planned Approach investing strategy

The Planned Approach provides portfolio management to clients on a discretionary basis, meaning clients give advisors the authority to manage their accounts on their behalf. The firm offers both custom portfolios as well as model portfolios with a range of asset allocations to accommodate various levels of risk tolerance, ranging from conservative to aggressive.

The firm does not attempt to time the market, instead choosing investments meant for clients to hold for the long term, and only selling when the asset’s fundamental value changes (rather than its price) or the client’s life situation changes. When creating a portfolio, The Planned Approach makes sure the client has enough liquidity to address cash flow needs and emergencies, and it also takes into account tax considerations and investment costs.

The Planned Approach disciplinary disclosures

The Planned Approach has a clean disciplinary record, meaning that neither the firm nor its employees or affiliates have faced any civil, criminal or regulatory issues within the last 10 years. For more information, visit the firm’s IAPD page.

8. Mader & Shannon Wealth Management

Find an Advisor

  • Minimum assets required: Not stated
  • AUM: $175,714,634
  • Individual investor to advisor ratio: 29:1
  • Fee structure:
    • A percentage of AUM
    • Hourly charges
    • Fixed fees
  • Firm phone number: (816) 751-0585
  • Headquarters address:
    4717 Grand Avenue, Ste. 800
    Kansas City, MO 64112

About Mader & Shannon Wealth Management

James Mader and George Shannon co-founded Mader & Shannon Wealth Management in 2005. Mader, who remains the firm’s chairman and CEO, now co-owns it with firm president Bret Guillaume and Robert McQuain. The firm is headquartered in Kansas City, and it has additional offices in Leavenworth, Kans., and Overland Park, Kans.

Mader & Shannon Wealth Management provides financial planning and portfolio management primarily to individuals, though it also serves some high net worth individuals. It also works with pension and profit-sharing plans, businesses and other investment advisors.

Mader & Shannon Wealth Management investing strategy

Mader & Shannon Wealth Management has an active management style of investing, focused mainly on securities traded on U.S. exchanges. The firm uses a variety of methods to analyze potential investment opportunities.

When it comes to asset allocation, Mader & Shannon Wealth Management takes a top-down, or big-picture approach. To choose specific securities, however, the firm uses a bottom-up strategy that is focused on selecting companies that have the best risk-reward opportunity in the current economic environment.

Mader & Shannon Wealth Management disciplinary disclosures

Mader & Shannon Wealth Management reports no disclosures on its Form ADV paperwork, meaning it has a clean disciplinary record. The SEC requires that all registered investment advisors report any incidents involving the firm, its employees or its affiliates from within the last 10 years that may materially affect an investor’s assessment of the company or its management. For more information, visit Mader & Shannon Wealth Management’s IAPD page.

Financial advisors in Kansas City: FAQ

A fiduciary financial advisor is legally and ethically obligated to put your best interest first at all times. All registered investment advisors (RIAs) are bound by fiduciary duty, but not all advisors are RIAs, so it’s important to check the credential of a firm you’re considering. Advisors who are not bound by fiduciary simply must make recommendations that are suitable to the client, but not necessarily what is best.

In addition to looking for a fiduciary, you’ll want to choose a financial advisor with whom you’re comfortable, who has experience working with clients in similar financial situations to your own and who has a fee structure that you understand. Interview at least three potential advisors to make sure you’re choosing the best fit.

The state and local tax burden in Missouri is about average compared with states in the rest of the country. The top income tax rate in the state is 5.40%, but the state does not have an inheritance tax. However, residents of the state may still be subject to federal estate taxes.

No. While many financial advisor firms can help with retirement planning, it’s not the primary focus of every advisor. Before entering into an agreement with a financial advisor, it’s important to understand what type of services they offer and what type of clients they primarily serve. If you are specifically looking for help with retirement planning, make sure to choose a financial advisor who typically focuses on that area.

magnifymoney

Connect with a Financial Advisor to Help You Grow & Protect Your Wealth

Find An Advisor
Terms & Conditions Apply.

How MagnifyMoney Gets Paid

Advertiser Disclosure

Investing

Best Financial Advisors in Chicago 2021: Fees and Services

Editorial Note: The content of this article is based on the author’s opinions and recommendations alone and is not intended to be a source of investment advice. It may not have not been reviewed, commissioned or otherwise endorsed by any of our network partners or the Investment company.

Written By

Reviewed By

Looking for a financial advisor in the Windy City? The first stop in your search for a financial advisor in Chicago should be determining what your financial needs and goals are, as well as how much you can comfortably spend for a financial advisor’s services. From there, you’ll need to start sorting through the many advisory companies available to choose from in the largest city in Illinois.

In the hopes of making the task of comparing firms and data points easier, we compiled the most pertinent information on Chicago’s top firms. To determine the best advisors in Chicago, we looked solely at firms that manage individual accounts and offer financial planning services. We then ranked these firms based on assets under management (AUM), which serves as a general metric for the firm’s size, and client-to-advisor ratio, which suggests how much attention you may receive as a client.

Our ranking is not indicative of which firm may be best for you, but hopefully it can simplify your search. Take a look at our list below for the top firms in Chicago and their key highlights:

8 best financial advisors in Chicago

Methodology and criteria

For our search, we looked at firms across the city of Chicago. All of the firms considered are bound by fiduciary duty, registered with the U.S. Securities and Exchange Commission (SEC) and offer individual account management and financial planning services.

The firms that met this criteria were ranked based on their AUM and client-to-advisor ratio. These criteria are weighted equally in our scoring metrics. Firms with a higher AUM and lower client-to-advisor ratios garner higher scores. Our ranking system is designed to help compare firms but does not indicate which firm may be best for you.

In our reviews, we’ve listed several other key features that will help you determine which financial advisor is most fitting for your investing style and financial needs. It is important to note that we did not include disciplinary disclosures as a metric for our ranking. We have listed any disciplinary disclosures current as of December 9, 2020, but urge you to evaluate these firms on https://adviserinfo.sec.gov/.

1. Hightower Advisors, LLC

Find an Advisor

  • Minimum assets required: No set account minimum
  • AUM: $57,000,000,000
  • Individual investor to advisor ratio: 287:1
  • Fee structure:
    • A percentage of AUM
    • Hourly charges
    • Fixed fees
    • Other (retainer or services fees, or some combination of above fees)
  • Firm phone number: (312) 962-3800
  • Headquarters address:
    200 W. Madison St., Suite 2500
    Chicago IL 60606

About Hightower Advisors, LLC

Founded in 2008 by attorney and financial services executive Elliot Weissbluth, Hightower Advisors, LLC is a private equity-backed registered investment advisor that offers financial advisory services through its network of advisory firms across the country, with 88 offices in total. Weissbluth is now the firm’s chairman, and its majority owner is the private equity firm Thomas H. Lee Partners, although some advisors and employees also have ownership stakes.

The firm offers investment advisory and financial planning services. Its client base includes individual investors, including those who meet the SEC’s definition of high net worth (at least $750,000 under management or a net worth of at least $1.5 million), as well as institutional investors, such as businesses, pension and profit-sharing plans and charitable organizations.

Hightower Advisors, LLC investing strategy

Hightower Advisors predominantly manages portfolios on a discretionary basis, meaning that it does not consult with clients before making every trade. The portfolios created by Hightower Advisors may include a range of investment strategies, including long- and short-term purchases, options, shorting and margin transactions.

The firm uses several methods of analysis to determine which investments to include in client portfolios, including the following:

  • Charting: Uses graphic analysis to review an investment’s performance
  • Fundamental analysis: Evaluates a company’s financial statements to predict future performance
  • Technical analysis: Reviews specific sectors and securities for patterns and trends
  • Quantitative analysis: Seeks to understand the behavior of a sector or security through mathematical and statistical models

Hightower Advisors, LLC disciplinary disclosures

Hightower Advisors does not disclose any disciplinary actions, meaning it has a clean record. For reference, the SEC requires all registered investment advisors to disclose any legal or disciplinary actions on their Form ADV paperwork. This includes any actions against the company, an employee or an affiliate that have occurred in the past 10 years. For more information on Hightower Advisors, visit the firm’s Investment Advisor Public Disclosure (IAPD) page.

2. Mesirow Financial Investment Management (MFIM), Inc.

Find an Advisor

  • Minimum assets required: Not specified
  • AUM: $26,693,197,000
  • Individual investor to advisor ratio: 127:1
  • Fee structure:
    • A percentage of AUM
    • Performance-based fees
  • Firm phone number: (800) 621-4421
  • Headquarters address:
    353 North Clark Street
    Chicago IL 60654

About Mesirow Financial Investment Management, Inc.

Norman Mesirow founded Mesirow Financial, the parent company of Mesirow Financial Investment Management (MFIM), Inc., in 1937, when he purchased a seat on the New York Stock Exchange. Mesirow Financial Investment Management was founded in 1986.

Today, the firm provides investment management, financial planning and retirement plan advisory services. The firm primarily works with non-high net worth individuals, though its client base also includes high net worth individuals and various types of institutional investors.

Headquartered in Chicago, the firm has nine additional offices located throughout the country. This includes two additional offices in Illinois, in Highland Park and Oakbrook Terrace.

Mesirow Financial Investment Management, Inc. investing strategy

Mesirow Financial Investment Management develops individual investment policy statements for each of its clients based on their financial goals, risk tolerance, time horizon, asset allocation targets and preferences.

To choose potential investments, the firm uses several methods of analysis, including looking at historical performance and at company fundamentals, which include financial and economic factors. Typical investments used in client portfolios include mutual funds, equities, fixed income and alternative investments.

Mesirow Financial Investment Management, Inc. disciplinary disclosures

Mesirow Financial Investment Management has no disciplinary actions to disclose. This includes any civil, criminal or regulatory events within the last 10 years involving the firm, its employees or its affiliates. For more information, visit Mesirow Financial Investment Management’s IAPD page.

3. Segall Bryant & Hamill

Find an Advisor

  • Minimum assets required: $1 million for individuals
  • AUM: $19,661,201,015
  • Individual investor to advisor ratio: 27:1
  • Fee structure:
    • A percentage of AUM
    • Fixed fees
    • Performance-based fees
    • Other (licensing fee)
  • Firm phone number: (800) 836-4265
  • Headquarters address:
    540 West Madison Street, Suite 1900
    Chicago, IL 60661

About Segall Bryant & Hamill

Founded in 1994, Segall Bryant & Hamill is owned by firm employees and affiliates of Thoma Bravo, LLC, another SEC-registered investment advisor, primarily through the holding company TB Lakeshore, LLC. Co-founders Ralph Segall and C. Alfred Bryant remain principals with the firm, while the firm’s third founder, Jonathan C. Hamill, has retired.

The firm offers portfolio management and, as part of its wealth management services, goals-based financial planning. It works with a wide range of clients, including individuals who both are and are not high net worth, as well as a variety of institutional investors. The firm generally requires a minimum investment of $1 million for individual relationships.

Segall Bryant & Hamill has four locations in addition to its Chicago headquarters in Denver, Philadelphia, St. Louis and Naples, Fla.

Segall Bryant & Hamill investing strategy

Segall Bryant & Hamill takes a “bottom-up” approach to security analysis, focusing on fundamental factors to guide its choice of securities for client portfolios. The firm’s research team also values environmental, social and governance (ESG) factors and integrates them into its analysis.

Segall Bryant & Hamill has more than two dozen strategies that it may recommend to investors, depending on their individual financial situation and goals. This includes domestic and international equity, domestic fixed income and balanced portfolios, as wellC as alternative investments.

Segall Bryant & Hamill disciplinary disclosures

Segall Bryant & Hamill does not report any disclosures on its Form ADV, meaning it has a clean disciplinary record. As a registered investment advisor, the firm is required to report any civil, criminal or regulatory events against the company, its employees or its affiliates. You can learn more about the firm by visiting Segall Bryant & Hamill’s IAPD page.

4. DiMeo Schneider & Associates, L.L.C

Find an Advisor

  • Minimum assets required: Varies by account type
  • AUM: $19,119,137,619
  • Individual investor to advisor ratio: 8:1
  • Fee structure:
    • A percentage of AUM
    • Fixed fees
  • Firm phone number: (312) 853-1000
  • Headquarters address:
    500 West Madison Street, Suite 1700
    Chicago IL 60661

About DiMeo Schneider & Associates, L.L.C

Robert DiMeo and William Schneider, former partners of investment banking company Kidder Peabody & Co, founded their namesake firm in 1995. DiMeo remains CEO of DiMeo Schneider & Associates, L.L.C, and shares ownership with a dozen other partners as well as NFP Corp., which provides technology and infrastructure support to the firm.

DiMeo Schneider & Associates provides investment management and investment consulting to individuals who are and are not high net worth, including family offices, corporate executives and business owners. Additionally, the firm serves a range of institutional clients, including retirement plan sponsors, nonprofit organizations, private institutions and corporations.

In addition to the firm’s headquarters in Chicago, DiMeo Schneider & Associates has locations in Austin, Texas; Boston; Santa Ana, Calif.; and McLean, Va.

DiMeo Schneider & Associates, L.L.C investing strategy

When it comes to managing clients’ money, DiMeo Schneider & Associates relies on two proprietary tools, which were born out of the firm’s focus on investment research:

  • The Frontier Engineer: This tool determines the appropriate asset allocation for a client by factoring in the potential long-term impact of market disruption. Portfolios tend to be highly diversified.
  • The Portfolio Engineer: This rebalancing tool aims to keep portfolios within their target allocation with as few trades as possible, minimizing transactions costs.

To find the best investments for clients at a given market cycle, the team at DiMeo Schneider & Associates analyzes thousands of private managers, hedge funds and public market securities. The firm has a 38-person team led by its chief investment officer that conducts research on investment opportunities, with the firm’s investment committee making the final call on which managers to use.

DiMeo Schneider & Associates, L.L.C disciplinary disclosures

DiMeo Schneider & Associates reports no disciplinary actions on its Form ADV, meaning it has a record free of any civil, criminal or regulatory actions against the company, its employees or its affiliates within the last 10 years. You can learn more about the firm by visiting its IAPD page.

5. Cresset Asset Management, LLC

Find an Advisor

  • Minimum assets required: No set account minimum
  • AUM: $9,519,544,050
  • Individual investor to advisor ratio: 14:1
  • Fee structure:
    • A percentage of AUM
    • Fixed fees
  • Firm phone number: (312) 429-2400
  • Headquarters address:
    444 West Lake Street, Suite 4700
    Chicago IL 60606

About Cresset Asset Management, LLC

Private equity investors and entrepreneurs Eric Becker and Avy Stein founded Cresset Asset Management in 2017 as a means of managing their own family wealth. Becker and Stein remain co-chairmen of the firm, which is owned by holding company Cresset Capital Management.

Today, the firm provides investment management, financial planning and family office services. It primarily works with individuals and high net worth individuals, with a focus on entrepreneurs. It also serves pooled investment vehicles and pension and profit-sharing plans.

The firm has nine offices throughout the country, including its Chicago headquarters. Its other locations are in Denver; Seattle; Minneapolis; Schaumburg, Ill.; San Francisco; West Palm Beach, Fla.; Atlanta; and Reston, Va.

Cresset Asset Management, LLC investing strategy

The team at Cresset Asset Management generally creates portfolios designed to meet each client’s goals, with a focus on tax efficiency. It does this via three strategies:

  • Diversified income: With a time horizon less than 10 years, this strategy aims to create financial independence and consistent, reliable cash flow.
  • Growth: With a time horizon of seven to 15 years, this strategy aims to create growth and plan for a client’s estate or charitable goals.
  • Aspirational: The time horizon for this strategy is 15 years of longer, and it emphasizes wealth creation.

The firm uses a wide range of investments in its portfolios, including cash, money market funds, stocks, bonds and funds. It may also include alternative investments, such as hedge funds or private equity, real estate investment trusts and others.

Cresset Asset Management, LLC disciplinary disclosures

Cresset Asset has no disclosures. As a registered investment advisor, the firm must report any civil, criminal or regulatory actions on its paperwork filed with the SEC. For more information on Cresset Asset Management, visit the firm’s IAPD page.

6. RMB Capital Management, LLC

Find an Advisor

  • Minimum assets required: $1 million
  • AUM: $8,664,870,131
  • Individual investor to advisor ratio: 26:1
  • Fee structure:
    • A percentage of AUM
    • Fixed fees
    • Performance-based fees
  • Firm phone number: (312) 993-5800
  • Headquarters address:
    114 S. LaSalle, 34th Floor
    Chicago, IL 60603

About RMB Capital Management, LLC

Richard M. Burridge and Frederick Paulman co-founded RMB Capital Management in 2005. They remain the firm’s principal owners, and serve as CEO and president, respectively.

RMB Capital Management, LLC has two main business units: Its wealth management division, which includes family office services and financial planning for a more holistic approach, and its asset management division, which focuses more on providing investment products for clients’ portfolios. The firm, which generally requires a minimum initial investment of $1 million, works with individuals, including high net worth individuals, as well as pooled investment vehicles, charitable organizations, investment companies, pension and profit-sharing plans and other types of institutions.

In addition to its Chicago headquarters, the firm has 11 other offices throughout the country.

RMB Capital Management, LLC investing strategy

RMB Capital Management typically uses fundamental analysis, meaning that it focuses on specifics of individual companies in which it invests in addition to their position in the overall market, and takes an active management investing style. That being said, it may turn to other methods when appropriate, such as passive or indexed strategies or alternative methods of investment analysis.

The firm uses several investment strategies to create portfolios. These include, but are not limited to:

  • Equity strategies (domestic and international)
  • Fixed-income strategies (including core investment-grade fixed income strategies, tax-advantaged fixed income strategies, Treasury Inflation Protected “Real Return” strategies and liabilities-driven investment strategies)
  • Private fund strategies

In addition to the above, the firm may occasionally recommend third-party investment strategies overseen by another registered investment advisory firm.

RMB Capital Management, LLC disciplinary disclosures

RMB Capital Management has no disciplinary disclosures to report. This means that neither the firm nor its employees or affiliates have faced any civil, criminal or regulatory actions within the last decade. You can learn more about the firm by visiting RMB Capital Management’s IAPD page.

7. Kovitz Investment Group Partners, LLC

Find an Advisor

  • Minimum assets required: $1 million
  • AUM: $5,149,430,656
  • Individual investor to advisor ratio: 48:1
  • Fee structure:
    • A percentage of AUM
    • Subscription fees
    • Performance-based fees
  • Firm phone number: (312) 334-7300
  • Headquarters address:
    115 South LaSalle Street, 27th Floor
    Chicago, IL 60603

About Kovitz Investment Group Partners, LLC

Former Rothschild Investment Group colleagues Mitchell Kovitz, Marc Brenner and Jonathan Shapiro launched Kovitz Investment Group, LLC in 2003. They remain principals of the firm, along with Robert Contreras and Ted Rupp. The firm is a member of the Focus Financial Partners group, a publicly traded company that owns RIAs throughout the country.

In addition to its Chicago headquarters, Kovitz Investment Group has additional offices in Illinois in Highland Park and Northbrook. It also has locations in Aliso Viejo, Calif. and Madison, Wis. The firm offers investment management, financial planning and family office services, primarily to individuals and high net worth individuals, though it also serves a variety of institutional investors. The account minimum requirement is generally $1 million, though it is lower at $500,000 for clients of the firm’s California and Wisconsin offices.

Kovitz Investment Group Partners, LLC investing strategy

Kovitz Investment Group uses a long-term, value-based investing approach to build portfolios. The firm does not try to time the markets, and instead focuses on determining the value of individual investments based on its fundamentals. The firm believes that by ignoring short-term volatility, it can minimize market risk and deliver gains over the long term.

Kovitz Investment Group uses quantitative analysis; which looks at a company’s balance sheet and financial performance; and qualitative analysis, which evaluates subjective factors such as management and competitive advantage, to select investments for client portfolios. Investments used may include equities, ETFs and fixed-income securities.

Note that the specific strategies employed for each client may differ based on both the financial situation of that client and the philosophy of the office with which they’re working.

Kovitz Investment Group Partners, LLC disciplinary disclosures

Kovitz Investment Group Partners has no disciplinary issues to disclose. For reference, the SEC requires registered investment advisors to disclose legal or disciplinary actions on their Form ADV paperwork, including any actions against the company, an employee or an affiliate from within the past 10 years. You can get more information by visiting the firm’s IAPD page.

8. Gofen and Glossberg, L.L.C.

Find an Advisor

  • Minimum assets required: $1 million
  • AUM: $4,968,003,632
  • Individual investor to advisor ratio: 233:1
  • Fee structure:
    • A percentage of AUM
    • Fixed fees
  • Firm phone number: (312) 828-1100
  • Headquarters address:
    455 N. Cityfront Plaza Dr., Suite 3200
    Chicago IL 60611

About Gofen and Glossberg, L.L.C.

Samuel Gefin and William Glossberg founded Gofen and Glossberg, L.L.C. in 1932, with the firm becoming a registered investment advisor in 1940. The firm remains privately owned, with no principal owning more than 25%.

Gofen and Glossberg offers its clients portfolio management services. For a separate fee, it also can provide financial planning, consulting and general oversight and advice. The firm works primarily with individuals and high net worth individuals, though it also serves a number of institutional clients. A minimum investment of $1 million is usually needed to establish a relationship with the firm, which operates out of its sole office in Chicago.

Gofen and Glossberg, L.L.C. investing strategy

Gofen and Glossberg generally creates customized portfolios for each of its clients based on their individual financial situation and goals. The firm aims to create low-turnover stock portfolios made up of 30 to 40 equities, and it takes a conservative approach to fixed-income investing.

Typically, Gofen and Glossberg sticks to a long-term approach. However, when it deems it appropriate, the firm also uses short-term trades, short sales, margin transactions and options strategies.

Gofen and Glossberg, L.L.C. disciplinary disclosures

Gofen and Glossberg does not disclose any disciplinary actions on its Form ADV. This means that neither the firm nor its employees or affiliates have faced any civil, criminal or regulatory actions within the past decade. You get more information on Gofen and Glossberg by visiting the firm’s IAPD page.

Financial advisors in Chicago: FAQ

Illinois is among the least tax-friendly states in the country, according to an analysis by Kiplinger, thanks to a 4.95% state income tax rate and property taxes that are the second-highest in the country. Illinois also imposes an inheritance tax, which impacts estates of $4 million or more. Residents of the state may also be subject to federal estate taxes.

No. While many financial advisor firms assist clients with retirement planning, not every firm specializes in it. If you’re interested in getting assistance with retirement planning, make sure to ask any advisor you’re thinking about working with whether it’s an area of focus for them.

Whether you should look for an independent advisor depends on what services you’re looking for. Working with an advisor who is part of a larger financial services firm may give you easier access to other financial products and services, such as loans or insurance. While an independent advisor may not offer the same array of services, they’re also less likely to steer you to purchase products from their firm, if potential conflicts of interest are a concern for you.

Certified financial planners (CFPs) and chartered financial analysts (CFAs) are among the most well-regarded certifications in the financial advisor industry. Both required extensive coursework, ongoing education and adherence to ethical standards.

That being said, there are a number of certifications that an advisor can earn that can indicate a particular area of focus or expertise. To find out what goes into earning a certification and how well-regarded it is, make sure to do your research beforehand though, as not all certifications carry equal weight.

magnifymoney

Connect with a Financial Advisor to Help You Grow & Protect Your Wealth

Find An Advisor
Terms & Conditions Apply.

How MagnifyMoney Gets Paid

Advertiser Disclosure

Investing

Best Financial Advisors in Los Angeles 2021: Fees and Services

Editorial Note: The content of this article is based on the author’s opinions and recommendations alone and is not intended to be a source of investment advice. It may not have not been reviewed, commissioned or otherwise endorsed by any of our network partners or the Investment company.

Written By

Reviewed By

If you’re looking for a financial advisor in Los Angeles, you may feel overwhelmed by the task of figuring out which one of the many options in the largest city in California is right for you. Finding a financial advisor who is the right fit requires figuring out what your needs and goals are and also how much you can comfortably spend to work with a financial advisor.

Beyond that, though, you will also need to filter through and compare the numerous financial advisor companies in L.A. In the hopes of making that process easier, we determined the best financial advisors and compiled the most pertinent information on them. Our process focused only on firms that manage individual accounts and offer financial planning services. We ranked these firms based on assets under management (AUM), which acts as a general metric for the size of a firm, and client-to-advisor ratio, which suggests how much personal attention you may receive as a client.

Our ranking won’t tell you which firm may be best for you, but it can make your search for a financial advisor who meets your unique needs easier. Take a look at our list below for the top firms in Los Angeles and their key highlights:

10 best financial advisors in Los Angeles

Methodology and criteria

For our search, we looked at firms across the city of Los Angeles. All of the firms considered are bound by fiduciary duty, registered with the U.S. Securities and Exchange Commission (SEC) and offer individual account management and financial planning services.

The firms that met this criteria were ranked based on their AUM and client-to-advisor ratio. These criteria are weighted equally in our scoring metrics. Firms with a higher AUM and lower client-to-advisor ratios garner higher scores. Our ranking system is designed to help compare firms but does not indicate which firm may be best for you.

In our reviews, we’ve listed several other key features that will help you determine which financial advisor is most fitting for your investing style and financial needs. It is important to note that we did not include disciplinary disclosures as a metric for our ranking. We have listed any disciplinary disclosures current as of December 2, 2020, but urge you to evaluate these firms on https://adviserinfo.sec.gov/.

1. Kayne Anderson Rudnick Investment Management, LLC

Find an Advisor

  • Minimum assets required: $1 million
  • AUM: $33,006,189
  • Individual investor to advisor ratio: 33:1
  • Fee structure:
    • A percentage of AUM
    • Fixed fees
    • Performance-based fees
  • Firm phone number: (800) 231-7414
  • Headquarters address:
    1800 Avenue of the Stars, Second Floor
    Los Angeles, CA 90067

About Kayne Anderson Rudnick Investment Management, LLC

Investment manager Richard Kayne and now-deceased billionaire entrepreneur John Anderson, founded Kayne Anderson Rudnick Investment Management in 1984 to manage their own money, and investment manager Allan Rudnick joined the firm in 1989. In 2005, the founders completed a sale of the firm to The Phoenix Companies, where it was part of a later spin-off of current owner Virtus Partners, a financial services and technology provider.

Kayne Anderson Rudnick offers investment management and wealth management services primarily to individuals and high net worth individuals, whom the SEC defines as those with at least $750,000 under management or a net worth of at least $1.5 million. The firm generally requires individual investors to have assets of at least $1 million. Aside from individual investors, the firm also does work with various institutions, including pension and profit-sharing plans, charitable organizations, municipal government entities, corporations and more.

The firm is headquartered in Los Angeles, and it has additional offices in California in San Francisco, Newport Beach and Westlake Village. The firm also has locations in Broomfield, Colo.; Salt Lake City; Boston; Scottsdale, Ariz.; Seattle; Providence, R.I.; and Maitland, Fla.

Kayne Anderson Rudnick Investment Management, LLC investing strategy

Kayne Anderson Rudnick Investment Management has roughly two dozen investing strategies that it uses to create customized portfolios for its clients based on their individual financial situations and risk tolerance level. Portfolios may include investments within the firm’s funds, with third-party partners and in alternative investments.

The firm’s equity strategies focus on 25 to 50 diversified domestic stocks — including small-cap, mid-cap and large-cap equities — and the following three investment styles:

  • Quality Value: Self-funding companies that produce a reliable, free cash-flow stream and are not reliant on external capital for growth, and that consistently pay dividends or repurchase shares
  • Sustainable Growth: Fast-growing companies that reinvest their cash flow to sustain growth
  • Core: A blend of the above investment styles

Kayne Anderson Rudnick Investment Management, LLC disciplinary disclosures

All registered investment advisors must disclose any civil, regulatory or criminal actions against the firm, its advisors or its affiliates on the Form ADV, public documents that registered firms must file with the SEC. Kayne Anderson Rudnick reports one such disclosure: In 2018, the firm paid an $18,500 penalty to Norwegian regulators following allegations that it did not disclose share ownership in a Norwegian company in a timely manner under Norwegian law.

You can learn more by visiting the firm’s Investment Adviser Public Disclosure (IAPD) page.

2. Aspiriant, LLC

Find an Advisor

  • Minimum assets required: None, but typical investors have at least $1.5 million
  • AUM: $12,758,731,000
  • Individual investor to advisor ratio: 17:1
  • Fee structure:
    • A percentage of AUM
    • Hourly charges
    • Fixed fees
  • Firm phone number: (415) 371-7800
  • Headquarters address:
    11100 Santa Monica Blvd., Suite 600
    Los Angeles, CA 90025

About Aspiriant, LLC

Aspiriant, LLC is a full-service, employee-owned firm that provides integrated financial planning and execution along with portfolio management and family office services. Additionally, the firm offers divorce financial consulting to clients going through a divorce.

The firm works with individual investors, including high net worth individuals, as well as institutions, such as businesses, charitable organizations, pension and profit-sharing plans, pooled investment vehicles and more. Though it doesn’t have a set minimum investment requirement, its clients typically have portfolios of at least $1.5 million.

Aspiriant formed in 2008, following the merger of two other West Coast investment advisory firms: Quintile in Los Angeles and Kohcis Fitz in San Francisco. In addition to its headquarters in Los Angeles, Aspiriant has four other California offices in San Diego, San Francisco, Irvine and Mountain View. It also has locations in New York, Boston, Minneapolis, Milwaukee, Cincinnati and Austin, Texas.

Aspiriant, LLC investing strategy

Aspiriant takes a long-term, contrarian approach to investing, moving away from risk when the market is going up and toward risk when it is going down. The firm’s investment program involves three steps:

  1. Allocation across asset classes
  2. Strategy and manager selection within each of the asset classes
  3. Execution of the plan

Portfolios may include equities, mutual funds, ETFs, exchange-traded notes, private partnerships, bonds, cash-equivalents and other securities. The firm may also recommend investment in its own mutual funds or private partnerships that it manages.

Aspiriant, LLC disciplinary disclosures

Aspiriant has no disciplinary disclosures on its record. For reference, the SEC requires that all registered investment advisors disclose any civil, regulatory criminal actions against the firm or its advisors or its affiliates from within the last 10 years. To learn more about the firm, visit Aspirant’s IAPD page.

3. Advanced Research Investment Solutions (ARIS), LLC

Find an Advisor

  • Minimum assets required: $10 million
  • AUM: $12,072,556,000
  • Individual investor to advisor ratio: 12:1
  • Fee structure:
    • A percentage of AUM
    • Fixed fees
  • Firm phone number: (424) 283-3800
  • Headquarters address:
    10635 Santa Monica Blvd., Suite 240
    Los Angeles, CA 90025

About Advanced Research Investment Solutions, LLC

Founded in 2014 by former Merrill Lynch advisor Alex Shahidi and former Bridgewater Associates advisor Damien Bisserier,  Advanced Research Investment Solutions, LLC, or ARIS, is owned by Evoke Holdings, which is in turn owned by advisor David Hou. Notably, Evoke Holdings also owns advisory firm Evoke Wealth, which also appears on this list, and the two firms share employees and office space.

ARIS offers investment management and retirement plan and investment consulting services out of its single office in Los Angeles. With a typical minimum portfolio value requirement of $10 million, the firm’s clients are primarily high net worth individuals, though it also serves various institutions including charitable organizations, guilds and health plans, pension and profit-sharing plans and pooled investment vehicles.

Advanced Research Investment Solutions, LLC investing strategy

ARIS starts the investing process by creating an asset allocation strategy that aims for consistent returns regardless of economic conditions. To do this, the firm works with a small group of managers that use proprietary research to invest in primarily private markets. The firm chooses those managers based on their long-term record.

Client portfolios typically consist of both active and passive strategies in an effort to mitigate costs and achieve tax efficiency. Decisions are ultimately based on clients’ investment objectives.

Advanced Research Investment Solutions, LLC disciplinary disclosures

ARIS has no disclosures, meaning it has a clean disciplinary record free of any civil, regulatory or criminal actions against the firm, its advisors, or its affiliates from within the past decade. The SEC requires that all registered investment advisors disclose such events in their Form ADV paperwork. To view that paperwork and learn more about the firm, visit its IAPD page.

4. SEIA

Find an Advisor

  • Minimum assets required: Varies by portfolio and service type
  • AUM: $8,235,801,168
  • Individual investor to advisor ratio: 83:1
  • Fee structure:
    • A percentage of AUM
    • Hourly charges
    • Fixed fees
  • Firm phone number: (310) 712-2323
  • Headquarters address:
    2121 Avenue of the Stars, Suite 1600
    Los Angeles, CA 90067

About SEIA

Financial advisor Brian D. Holmes founded SEIA, legally known as Signature Estate & Investment Advisors, in 1997, and remains its president, CEO and principal owner. The firm offers financial planning and consulting and investment management to individuals, including high net worth individuals, as well as to pension and profit-sharing plans, corporations or other businesses and charitable organizations.

SEIA has its headquarters in Los Angeles, and additional offices in California in Newport Beach, Redondo Beach and San Mateo. It also has locations in Virginia, Texas and Oregon.

SEIA investing strategy

SEIA uses a six-step investment management process with its clients:

  1. Determine investor needs and objectives
  2. Assess risk tolerance and investor suitability
  3. Review asset allocation
  4. Implement strategic plan
  5. Rebalance and monitor portfolio
  6. Report the results

The firm’s portfolios typically use modern portfolio theory, which emphasizes a diversity of asset classes. It uses both strategic macro allocation, which incorporates diverse investment styles and alternative investments, and tactical micro allocation, which reallocates assets based on favorable outlooks or prospects of a particular sector.

The firm’s investment committee is responsible for overseeing client portfolios and includes its chief investment officer, senior partners, financial advisors and members of the research team.

SEIA disciplinary disclosures

SEIA has no disciplinary disclosures on its record. This means that neither the firm nor its employees or affiliates have faced any civil, regulatory or criminal issues over the last decade. For more information on SEIA, visit the firm’s IAPD page.

5. Churchill Management Group

Find an Advisor

  • Minimum assets required: $750,000
  • AUM: $6,552,311,084
  • Individual investor to advisor ratio: 128:1
  • Fee structure:
    • A percentage of AUM
  • Firm phone number: (877) 937-7110
  • Headquarters address:
    5900 Wilshire Boulevard, Suite 400
    Los Angeles, CA 90036

About Churchill Management Group

Churchill Management Group owner and CEO Fred Fern, a protégé of high-profile stockbroker William O’Neil, founded the firm in 1963 at the age of 25 without any formal training in investing. In the decades since, the firm has grown to manage more than $6.5 billion and serve thousands of clients.

Churchill Management Group provides investment management and financial planning services primarily to individual investors, including high net worth individuals. The firm, which generally prefers accounts with a minimum of $750,000, also serves trusts, pension plans, investment funds and other types of entities.

Headquartered in Los Angeles, the firm also has a presence in the Northwest, Eastern and Central regions of the country, with 34 locations in total.

Churchill Management Group investing strategy

The firm uses an active trading approach based on the idea that markets behave cyclically, and it adjusts that approach based on where the markets are in a specific cycle. Churchill Management Group’s investment team makes asset allocation decisions using a “top-down” approach, looking at big picture trends, but it chooses investments within asset classes based on a “bottom-up” approach, which looks at the fundamentals of each company.

Churchill Management Group creates customized portfolios based on each client’s needs, using one of the following strategies:

  • Tactical: Aims to reduce exposure in high-risk markets
  • Fully Invested: Remains invested at all times regardless of market risk
  • Combination: Uses elements of multiple strategies when no one strategy fits a client’s needs
  • Fixed Income: Creates a portfolio of diverse, investment-grade bonds

Churchill Management Group disciplinary disclosures

Churchill Management Group has no disciplinary disclosures on its record. For reference, all registered investment advisors must disclose any civil, regulatory or criminal actions against the firm, its advisors or its affiliates on their Form ADV, public documents that registered firms must file with the SEC. You can learn more by visiting Churchill Management Group’s IAPD page.

6. Lido Advisors, LLC

Find an Advisor

  • Minimum assets required: $1 million
  • AUM: $5,403,551,006
  • Individual investor to advisor ratio: 62:1
  • Fee structure:
    • A percentage of AUM
    • Hourly charges
    • Fixed fees
  • Firm phone number: (310) 278-8232
  • Headquarters address:
    1875 Century Park East Suite 950
    Los Angeles, California 90067

About Lido Advisors, LLC

Firm chairman and CEO Greg Kushner founded Lido Advisors, LLC in 1999. Kushner owns a portion of the firm via a holding company. Several other firm executives are partial owners of the firm, along with a family office that’s also a Lido Advisors client.

The firm provides investment management, financial planning, family office services, retirement planning, estate planning and other financial services primarily to high net worth individuals. However, the firm also serves some individuals who do not meet the high net worth threshold despite its $1 million account minimum, and it also works with corporations or other businesses.

Lido Advisors has its headquarters in Los Angeles and 13 additional offices throughout the country, including three other locations in California.

Lido Advisors, LLC investing strategy

Lido Advisors creates custom asset allocation strategies for its clients that are aimed at minimizing the correlation between asset types. In addition to traditional assets like stocks, bonds and cash, Lido Advisors might include other asset classes in a client’s portfolio, such as real estate, foreign securities or alternative assets.

The firm typically uses a long-term strategy. Its “Master Allocation Program,” known as L-MAP, incorporates alternative, core and tactical strategies, with an aim toward helping clients achieve their investment goals while reducing market risk and managing volatility.

Lido Advisors, LLC disciplinary disclosures

Lido Advisors has no disciplinary disclosures on its record. All registered investment advisors must disclose any civil, regulatory or criminal actions against the firm, its advisors or its affiliates on their Form ADV documents filed with the SEC. For more information on Lido Advisors, visit the firm’s IAPD page.

7. Evoke Wealth, LLC

Find an Advisor

  • Minimum assets required: None
  • AUM: $4,658,641,087
  • Individual investor to advisor ratio: 19:1
  • Fee structure:
    • A percentage of AUM
    • Fixed fees
  • Firm phone number: (424) 372-1777
  • Headquarters address:
    10635 Santa Monica Blvd., Suite 240
    Los Angeles, California 90025

About Evoke Wealth, LLC

Managing partners David Hou and Mark Sear formed Evoke Wealth, LLC in 2019 when they left First Republic Bank in a high-profile split. The firm is wholly owned by Evoke Holdings, which in turn is owned by Hou. Evoke Holdings recently acquired Advance Research Investment Management (ARIS), another firm on this list, and the two firms share office space and employees.

Evoke Wealth offers financial planning and investment management services primarily to high net worth individuals, though the firm’s client base also includes pooled investment vehicles and corporations or other businesses. It has its headquarters in Los Angeles.

Evoke Wealth, LLC investing strategy

Evoke Wealth focuses on investments in which the potential upsides outweigh potential downsides. The firm emphasizes “risk-conscious” investing, aimed at finding opportunities in changing market conditions, minimizing losses during downturns and outperforming in up markets. To do this, Evoke Wealth looks for alternative strategies with a low correlation to public markets.

The firm generally recommends long-term ownership of securities, with broad diversification both within and across asset classes. Portfolios may include traditional investments, such as  stocks, bonds, mutual funds and ETFs, as well as warrants, commercial paper, certificates of deposit (CDs), options contracts or private funds.

Evoke Wealth, LLC disciplinary disclosures

Evoke Wealth has a record free of any disciplinary disclosures, meaning neither the firm nor its employees or affiliates have faced any civil, criminal or regulatory issues within the past 10 years. For reference, the SEC requires that all registered investment advisors disclose this information in their disclosure paperwork. You can learn more about Evoke Wealth by visiting the firm’s IAPD page.

8. AdvicePeriod, LLC

Find an Advisor

  • Minimum assets required: None
  • AUM: $3,467,735,678
  • Individual investor to advisor ratio: 17:1
  • Fee structure:
    • A percentage of AUM
    • Hourly charges
    • Fixed fees
  • Firm phone number: (424) 281-3600
  • Headquarters address:
    2121 Avenue of the Stars, Suite 2400
    Los Angeles, CA 90067

About AdvicePeriod, LLC

Financial advisor Steve Lockshin, who has launched and grown multiple RIA firms, started AdvicePeriod in 2013 and remains the firm’s principal owner. AdvicePeriod is a full-service financial services firm, offering everything from investment management and wealth planning to family office services and a robo-advisory program. The firm’s clients include individuals, including high net worth individuals, as well as corporations and other businesses.

AdvicePeriod is headquartered in Los Angeles, but it has 17 other offices throughout the country.

AdvicePeriod, LLC investing strategy

AdvicePeriod primarily uses passive or quasi-passive investment strategies to invest in publicly traded funds or professionally managed portfolios. However, the firm may occasionally use other types of securities or alternative investments depending on a client’s circumstances.

AdvicePeriod creates customized asset allocation strategies for each of its clients based on their needs and financial situations, with an emphasis on tax efficiency.

AdvicePeriod, LLC disciplinary disclosures

AdvicePeriod does not have any disciplinary disclosures to report on its Form ADV, public documents that registered firms must file with the SEC. That means that the firm is free from civil, criminal, or regulatory events over the past 10 years involving the firm, its employees, or its affiliates. For further information on AdvicePeriod, visit the firm’s IAPD page.

9. Westmount Asset Management, LLC

Find an Advisor

  • Minimum assets required: $2 million
  • AUM: $3,062,871,091
  • Individual investor to advisor ratio: 17:1
  • Fee structure:
    • A percentage of AUM
  • Firm phone number: (310) 556-2502
  • Headquarters address:
    2049 Century Park East, Suite 2500
    Los Angeles, CA 90067

About Westmount Asset Management, LLC

Father and son, Robert Berliner and Jim Berliner, founded Westmount Asset Management, LLC in 1990 and remain the firm’s principal owners. Robert Berliner is the firm’s chairman, and Jim Berliner serves as president and chief investment officer.

The firm provides investment advisory and certain financial planning services to its clients, who are primarily individual investors who are both high net worth and not, though the firm generally requires a $2 million minimum investment. It also works with charitable organizations, businesses, pension and profit-sharing plans and pooled investment vehicles.

Based in Los Angeles, Westmount Asset Management also has offices throughout California in Newport Beach, Pasadena and El Segundo.

Westmount Asset Management, LLC investing strategy

Westmont Asset Management focuses mostly on long-term investing, but it may use short-term strategies to take advantage of market inefficiencies or risk reduction opportunities. The firm’s customized portfolios mainly include no-load mutual funds, but it also looks for ways to incorporate alternative investments into client portfolios as a complement to traditional stock and bond holdings.

Westmount Asset Management also offers an environmental, social, governance (ESG) portfolio for clients who want to invest in companies driving positive social change. The firm’s ESG managers incorporate companies’ progress toward the United Nations Sustainable Development Goals into their investment decisions.

Westmount Asset Management, LLC disciplinary disclosures

Westmount Asset Management reports no disciplinary disclosures. As a registered investment advisory firm, the SEC requires it to disclose any such events involving either the firm or its employees or affiliates from within the last 10 years. For further information on the firm, visit its IAPD page.

10. Miracle Mile Advisors, LLC

Find an Advisor

  • Minimum assets required: $750,000
  • AUM: $1,475,561,624
  • Individual investor to advisor ratio: 29:1
  • Fee structure:
    • A percentage of AUM
    • Fixed fees
  • Firm phone number: (310) 246-1243
  • Headquarters address:
    11300 West Olympic Blvd, Suite 800
    Los Angeles, CA 90064

About Miracle Mile Advisors, LLC

Brock Mosely, a former Morgan Stanley investment advisor, founded Miracle Mile Advisors, Inc in 2007, and changed the firm’s name in 2010 to Miracle Mile Advisors LLC. Moseley, who serves as a partner and managing director at the firm, owns the firm alongside Duncan Rolph, a managing partner at the firm.

Miracle Mile Advisors offers comprehensive planning, portfolio management and retirement plan consulting to its clients, who are primarily individuals with and without a high net worth. It also serves businesses and pension and profit-sharing plans. In addition to its headquarters in Los Angeles, the firm has offices in Newport Beach and Santa Monica.

Miracle Mile Advisors, LLC investing strategy

Miracle Mile Advisors believes that asset allocation is the most important factor in investor success, and it creates customized portfolios for clients using macroeconomic research to determine strategic allocations that maximize returns and optimize for taxes. The firm then takes an active management approach, adjusting holdings as necessary based on market movement.

Portfolios typically include traditional investments, such as funds or individual bonds, but the firm may also recommend alternative investments like hedge funds or structured notes. Advisors in the firm’s Newport Beach office focus primarily on investments in individual stocks.

Miracle Mile Advisors, LLC disciplinary disclosures

Miracle Mile Advisors has a clean disciplinary record, meaning the firm reports no civil, regulatory, or criminal actions against the firm, its advisors, or its affiliates from within the last decade. You can learn more about the firm by visiting its IAPD page.

Financial advisors in Los Angeles: FAQ

California residents pay among the highest taxes in the country on a per capita basis. The state’s top income tax bracket is 13.30%, which is the country’s highest. When it comes to financial planning, Golden State residents do not have to worry about state estate or inheritance taxes, since California does not impose them, though they could face federal estate taxes.

No, although many financial advisors do offer retirement planning. If retirement planning is important to you, ask advisors how much emphasis they place on it before you start working together to ensure your advisor can adequately meet your financial needs.

An advisor who holds a CFP designation has gone through extensive training. In addition to being required to have a bachelor’s degree and three years of full-time financial planning experience, certified financial planners also must complete coursework in financial planning and pass an exam. They also must undergo continuing education and comply with an ethics pledge to put clients’ interests ahead of their own.

It’s typically better to look for a fee-only financial advisor. That’s because a fee-based advisor may also receive commissions, which could give them an incentive to recommend products or services on which they’ll earn money, even if they’re not the best fit for you. A fee-only advisor, on the other hand, only earns money from the fees their clients pay for their services, which minimizes potential conflicts of interest that may arise.

magnifymoney

Connect with a Financial Advisor to Help You Grow & Protect Your Wealth

Find An Advisor
Terms & Conditions Apply.