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Review of Florida Financial Advisors

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.

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Florida Financial Advisors provides financial planning, wealth management and insurance services specifically designed for people living in Florida. With 85 advisors and fewer than 50 clients, the firm’s service is personal and individualized. It currently oversees $5.8 million in assets under management (AUM), and has three office locations in Florida.

All information included in this profile is accurate as of January 13, 2021. For more information, please consult Florida Financial Advisors’ website.

Assets under management: $5,843,643
Minimum investment: None
Fee structure: A percentage of AUM; fixed fees; a percentage of net worth or assets for financial planning clients
Headquarters: 2330 W. Horatio Street
Tampa, FL 33609
https://www.floridafa.com/
813-333-1683

Overview of Florida Financial Advisors

Florida Financial Advisors was founded in 2017 by Jason Mickool, who currently serves as the firm’s chief compliance officer. Mickool also owns Trinity Wealth Securities, a brokerage firm in Tampa, Fla., and some employees of Florida Financial Advisors are registered representatives of Trinity Wealth Securities. Florida Financial Advisors is also the parent company of Tristate Financial Advisors in Philadelphia, which provides the same investment advisory and insurance services to those in the tristate area of New Jersey, New York and Pennsylvania.

Florida Financial Advisors currently has 85 employees that provide investment advisory services and are licensed insurance agents. Beyond the firm’s Tampa headquarters, it also has offices in Miami and Winter Park, Fla.

What types of clients does Florida Financial Advisors serve?

Florida Financial Advisors offers services to individuals, trusts, estates, charitable organizations, corporations, businesses and state and municipal government entities. The firm currently has fewer than 50 clients, all of whom are individual investors. It specifically caters to those who live in Florida and have “Floridian” goals, which may include owning a boat or beach house, in addition to traditional goals, such as saving for children’s education and getting ready for retirement.

Florida Financial Advisors doesn’t require a minimum account balance for clients.

Services offered by Florida Financial Advisors

Florida Financial Advisors offers financial planning, wealth management and insurance services, specializing in the needs of Florida residents.

The firm’s services include the following:

  • Asset management
  • Financial planning
    • Retirement planning
    • Trust and estate planning
    • Education planning
    • Tax strategies
    • Cash flow forecasting
    • Spending analysis and budgeting
    • Long-term care planning
    • Debt management
    • IRA and 401(k) rollovers
  • Family hardships
  • Insurance/risk management
  • Employee benefit plan fiduciary services; 401(k) and pension consulting
  • Workshops and seminars, newsletters, videos and other publications

How Florida Financial Advisors invests your money

Florida Financial Advisors uses three primary types of analysis to make investment recommendations to its clients:

  • Fundamental analysis: This method looks at a company’s overall financial health both now and as projected in the future.
  • Technical analysis: This method attempts to predict the trading behavior of a security by analyzing past market trends and patterns.
  • Cyclical analysis: While the firm states that it does not try to time the market, it does use cyclical analysis in which trends and the status of the economy nationwide and globally are considered.

The firm also subscribes to Modem Portfolio Theory, which refers to diversifying investments to minimize risk and looks at the market as a whole when considering investments.

Florida Financial Advisors typically recommends one of six model portfolios determined by a client’s goals, timeline and risk tolerance. The portfolios range from conservative to extremely aggressive. Most frequently, the firm recommends the following investment strategies:

  • Long-term purchases (securities held for a year or more)
  • Short-term purchases (securities sold within a year)
  • Trading (securities sold within 30 days)
  • Short sales
  • Margin transactions
  • Option writing

Fees Florida Financial Advisors charges for its services

Clients of Florida Financial Advisors pay an annual fee for investment management services, with the rate based on a percentage of their total assets under management. Maximum rates range from 1.40% to 2.65% depending on the value of a portfolio (see table below for specifics).

While no client will owe more than the maximum rate for each portfolio tier, fees may vary based on factors such as anticipated future earning capacity and anticipated future additional assets. Additionally, because the advisors determine the exact rate within the parameters outlined in the table below, there is potential for a conflict of interest to arise, as advisors stand to earn more when they charge clients a higher rate.

Florida Financial Advisors Asset Management Fee Schedule
Portfolio value Maximum rate
First $250,000 2.65%
Next $250,000 2.45%
Next $500,000 1.90%
Next $1,000,000 1.65%
Next $3,000,000 1.65%
Next $5,000,000 1.40%
Above $10,000,000 1.40%

In some cases, Florida Financial Advisors may recommend that its clients work with a third-party investment advisor, such as Morningstar Advisory Services or Brinker Advisory Services. In these cases, Florida Financial Advisors receives a portion of the fee that the third-party advisor receives, as outlined in the charts below.

Annual Fee Schedule for Morningstar Advisory Services 
Total assets Florida Financial Advisors’ fee Morningstar’s fee Total fee
$1-$500,000 0.75% 0.55% 1.30%
$500,001-$1,000,000 0.75% 0.50% 1.25%
$1,000,001-$2,000,000 0.75% 0.45% 1.20%
$2,000,001 and up 0.75% 0.40% 1.15%
Annual Fee Schedule for Brinker Advisory Services
Total Assets  Florida Financial Advisors’ fee Brinker’s fee Total Fee 
All assets Up to 2.51% 0.14% Up to 2.65%

A client may also owe additional third-party fees, which could include costs like brokerage commissions, transaction fees and other expenses.

For financial planning and consulting, clients are either charged a fixed fee, which ranges from $200 to $7,500, or a fee based on their net worth or assets, which may be up to 2%. The exact rate will vary based on the scope of the services provided and the advisor’s discretion.

Florida Financial Advisors highlights

  • Specializes in Florida residents’ unique needs: Florida Financial Advisors specializes in meeting the specific needs of those living in the state of Florida. In addition to offering the standard fare, like investment management and financial planning, the firm can also help clients to achieve dreams specific to their Florida residency, such as someday owning a boat or a beach house.
  • Personalized service thanks to low client-to-advisor ratio: Florida Financial Advisors stands out for having more advisors than it does clients. The firm currently has fewer than 50 clients and 85 employees serving in investment advisory functions, translating to a roughly 1:2 client-to-advisor ratio. This means that clients will likely receive personal attention and individualized service.
  • Clean disciplinary history: Florida Financial Advisors reports no legal or disciplinary incidents, meaning it has a clean record. See more on this below.

Florida Financial Advisors downsides

  • Potential for conflict of interest due to insurance and broker affiliations: Advisors at Florida Financial Advisors may earn additional compensation and be able to receive incentive rewards from the sale of some insurance policies, which could present a conflict of interest. Some members of Florida Financial Advisors’ team also represent Trinity Wealth Securities and other broker-dealers, through which they may receive a commission for recommendations to clients. This could also present a conflict of interest.
  • Fee schedule could present further conflicts of interest: While there are maximum fees for various portfolio tiers provided in the firm’s fee schedule, advisors ultimately determine the exact rate within those tiers. Again, this could present a conflict of interest, as advisors may be financially incentivized to charge higher rates.
  • Higher than average fees in comparison to national averages: Florida Financial Advisors’ rates may be higher than the national average fee for investment advisors. Clients may pay up to 2.65% of assets for the first $250,000 in their portfolio, which is significantly higher than the national average of 1.17%, according to a 2019 study by RIA in a Box. That being said, Florida Financial Advisors only lists its maximum rates, so clients may end up paying a lower rate than what’s listed in the publicly available fee schedule.

Florida Financial Advisors disciplinary disclosures

Florida Financial Advisors reports no disclosures. This means that neither the firm nor its employees or affiliates have faced any civil, criminal or regulatory events in the past 10 years.

For more information, you can visit the firm’s Investment Adviser Public Disclosure (IAPD) page, where you will find the firm’s Form ADV, which all registered investment advisors must file with the SEC. One section of this form asks for disclosure information that may be pertinent to current or potential clients’ evaluation of the firm.

Florida Financial Advisors firm onboarding process

Florida Financial Advisors begins by analyzing a client’s overall financial status, including their taxes, debt, credit, business planning, retirement savings and insurance needs. It will then provide services for all or some of these areas. The firm consults with clients on an initial and ongoing basis, though it doesn’t state a minimum number of times that its team reviews or rebalances portfolios each year.

Florida Financial Advisors offers free consultations, which you can sign up for through its website to get started. The firm also provides free workshops, newsletters, online videos and other resources to current and prospective clients.

Is Florida Financial Advisors right for you?

If you live in Florida and are looking for a financial advisor, Florida Financial Advisors may be worth considering. As a small, local firm, it provides personalized service to meet the unique needs of state residents. That service may come at a cost, however, as Florida Financial Advisors’ fees may be higher than average, though it is difficult to predict your exact fee as the firm only provides maximum rates.

Be aware that advisors at the firm may stand to make financial gains by recommending certain products, so there is potential for conflict of interest. Additionally, while the firm may be of interest to Florida residents, its specialized focus on Floridians and the fact that all of its offices are located in the Sunshine State means it may not be a good fit for residents of other states, who may be better served by another financial advisor firm.

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Review of Facet Wealth

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.

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Facet Wealth provides comprehensive online financial planning, as well as consulting and investment management services, primarily to individual investors. The firm’s team of 54 financial advisors provides advice based on each individual’s goals and unique circumstances. Though the firm has one office in Baltimore, it offers its services nationwide virtually. Facet Wealth currently oversees roughly $344.5 million in assets under management (AUM).

All information included in this profile is accurate as of January 12, 2021. For more information, please consult Facet Wealth’s website.

Assets under management: $344,522,346
Minimum investment: No minimum
Fee structure: Fixed fees
Headquarters: 100 International Drive, 23rd Floor
Baltimore, MD 21202
https://www.facetwealth.com/
443-376-6222

Overview of Facet Wealth

Facet Wealth was established in 2016. The company is privately owned by its three founders — Brent Weiss, who currently serves as the company’s chief evangelist, responsible for guiding their vision and ensuring consistent brand messaging; Patrick McKenna, who serves as executive chairman; and Anders Jones, who is the CEO.

Facet Wealth currently employs 154 people — about one-third of them perform investment advisory functions, while two employees are licensed agents of an insurance company or agency. The firm has one office located in Baltimore, but its advisors provide services virtually to clients across the country.

What types of clients does Facet Wealth serve?

The vast majority of Facet Wealth’s clients are individuals who do not have a high net worth (the SEC defines high net worth investors as those with either $750,000 under management or a net worth of at least $1.5 million). However, the firm does have a small group of high net worth clients that it serves. There is no minimum account size required to work with the firm.

In addition to individual investors, Facet Wealth also offers services to pension and profit-sharing plans, business entities, trusts, estates and charitable organizations. In some cases, Facet Wealth purchases clients with smaller accounts from other registered investment advisors. It will offer them back, however, when accounts reach $1 million.

Services offered by Facet Wealth

Facet Wealth primarily provides online financial planning services and portfolio management for individuals. The firm typically doesn’t offer clients investment management services on a standalone basis but rather provides them as part of its overall financial planning and consulting services.

The following is a comprehensive list of the firm’s offerings:

  • Investment advisory services and portfolio management
  • Financial planning
    • Financial goal setting
    • Portfolio design and asset allocation
    • Risk tolerance and capacity analysis
    • Investment management
    • Employee benefits planning
    • Employer stock plan analysis
    • Retirement planning
    • Estate planning and beneficiary
    • Education planning
    • Small business planning
    • Small business retirement plans
    • Income tax planning
    • Trust planning
    • Cash flow and expense planning
    • Debt management and planning
    • Insurance/risk management planning
  • IRA and 401(k) rollovers

How Facet Wealth invests your money

Facet Wealth stresses that all of its investment recommendations are based on the individual needs of each client. The firm has four primary asset allocation programs, which are based on a client’s risk tolerance: Aggressive, Moderately Aggressive, Moderate and Conservative.

Funds are typically invested in various mutual funds, exchange traded funds (ETFs), stocks and bonds. Facet recommends both short-term purchases (those to be held less than a year) and long-term purchases (those held for a year or more).

All services are provided on a discretionary basis in line with the client’s objectives, meaning the firm makes day-to-day decisions about buying and selling securities. The client can, however, indicate if there are securities they don’t want to invest in for whatever reason.

Fees Facet Wealth charges for its services

Unlike many firms that base fees on a client’s AUM, Facet Wealth charges a flat fee for its services. Fees can range from $600 to $10,000 per year, but typically fall between $1,200 and $6,000 annually.

Known as “subscription pricing,” the rate is determined by the level and scope of services provided and doesn’t necessarily increase as a client’s account grows, as it would with fees based on a percentage of AUM. The average fixed fee for a financial advisor ranges from $1,500 to $7,500, which puts Facet Wealth in that ballpark.

In some cases, Facet Wealth may recommend a third party as the custodian for investment management assets (for example, Charles Schwab, Fidelity or TD Ameritrade), in which case clients may have to pay additional fees.

Facet Wealth’s highlights

  • Flat fees could prove advantageous for some clients: Subscription pricing means clients don’t have to pay more just because they invest more money. Rather, the fee is determined by scope of work and is straightforward and predictable once it’s established, as long as management needs don’t change significantly.
  • Dedicated CFPs on staff: Even though the firm provides its services online, each client is assigned a personal certified financial planner (CFP) with whom they can build an ongoing relationship.
  • Individually tailored portfolios: Facet Wealth doesn’t use model portfolios. Rather, the firm bases its recommendations on factors unique to each client including their goals, objectives and risk tolerance.
  • Awarded performance: Earlier this year, Facet Wealth was named “Best Online Financial Planning Service” by NerdWallet. Investment News named CEO Anders Jones to its “40 Under 40” List in 2019.

Facet Wealth’s downsides

  • Potential conflict of interest: Some of Facet Wealth’s advisors are also representatives of Purshe Kaplan Sterling Investments, a broker-dealer, which clients can choose to use for brokerage transactions. Because those individuals may receive a commission on such transactions, there’s a possibility for a conflict of interest to arise if clients choose to work with one of them.
  • No in-person interaction: Because Facet Wealth provides services via videoconference rather than in person, some people may miss the in-person interaction.
  • Difficult to estimate costs due to fee range: Because the firm’s fees are more subjective, it can be difficult to know how much you may have to pay for its services. In addition, if your portfolio is small and your needs are complex, then an account for which the fees are based on AUM may be more beneficial.

Facet Wealth’s disciplinary disclosures

Facet Wealth has no disciplinary disclosures on its record. This includes any civil, regulatory or criminal actions against the firm, its advisors or its affiliates over the past 10 years. For more information, visit the firm’s IAPD page.

For reference, registered investment advisors must file Form ADV paperwork with the Securities and Exchange Commission (SEC). One section of Form ADV asks for disclosure information, meaning firms must report any type of disciplinary history.

Facet Wealth’s onboarding process

The onboarding process with Facet Wealth starts with a 30-minute introductory call, which can be scheduled online and comes with no obligation.

Clients who choose to go forward are assigned a dedicated planner, and they can meet with them virtually as often as they like and communicate with them via email, text and phone. Most clients meet with their planner more frequently the first year and then two to three times per year thereafter. Clients also are provided a quarterly report regarding the status of their account.

Is Facet Wealth right for you?

If you’re looking for online financial planning and investment management services with more of a personal touch than a robo-advisor, Facet Wealth is worth considering. While the firm is headquartered in Baltimore, it provides services nationwide, virtually. Unlike robo-advisors, Facet Wealth offers personal attention via dedicated CFPs who provide advice based on individual goals and objectives.

You don’t have to have a ton of money to invest with Facet Wealth either, as the firm doesn’t require a minimum account balance. It charges clients a flat fee based on the scope of work required, which may be a good deal for people with larger amounts of money to invest, but uncomplicated planning needs. On the flip side, those with complicated planning needs may find better value elsewhere depending on the size of their account.

Some people may also miss the ability to meet in-person with their advisor. But for those looking for flexibility and convenience along with a personal touch, Facet Wealth provides a good middle ground between a robo-advisor and a traditional advisor.

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Best Financial Advisors in Missouri 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.

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If you’re looking for a financial advisor in Missouri, you may be feeling unsure of where to start your search. Finding the right advisor is a lot about figuring out the right fit, which requires taking the time to understand your financial needs and goals, as well as how much you can spend for an advisor’s services.

However, the search also requires comparing firms and data points, which can feel like a daunting undertaking given the number of options across the “Show-Me” State. To make that process easier, we went ahead and determined the best advisors in Missouri and compiled the most pertinent information on these advisory firms. To narrow it down, we only considered 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.

While our ranking won’t necessarily tell you which firm may be best for you, it can make the search for an advisor easier. Take a look at our list below for the top firms in Missouri and what you need to know about them:

10 best financial advisors in Missouri

Methodology and criteria

For our search, we looked at firms across the state of Missouri. 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 30, 2020, but urge you to evaluate these firms on https://adviserinfo.sec.gov/.

1. Moneta Group Investment Advisors, LLC

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  • Minimum assets required: No minimum
  • AUM: $23,734,428,158
  • Individual investor to advisor ratio: 36:1
  • Fee structure:
    • A percentage of AUM
    • Hourly charges
    • Fixed fees
  • Firm phone number: 314-726-2300
  • Headquarters address:
    100 S. Brentwood Blvd.
    St. Louis, MO 63105

About Moneta Group Investment Advisors, LLC

Moneta Group Investment Advisors, LLC bills itself as a “family CFO” for many of its clients, who include individuals, both those who do and don’t have a high net worth (defined by the SEC as those with at least $750,000 under management or a net worth of at least $1.5 million) as well as trusts and estates. Additionally, the firm serves institutional clients, including 401(k) plans, pension and profit-sharing plans, foundations, endowments and other charitable organizations. The firm provides investment advice; financial, tax, estate and retirement planning; business succession consulting; and concierge services, such as bill paying and bookkeeping.

Moneta Group Investment Advisors has been in business since 1933, and previously went by the name Physicians Planning Service Corp., as it was primarily focused on financial planning services for doctors. The firm is a subsidiary of Moneta Group, LLC, which is owned by the Moneta Partners. In addition to its headquarters in St. Louis, Moneta Group Investment Advisors has offices in Denver and Mission Woods, Kan., in the Kansas City metro area.

Moneta Group Investment Advisors, LLC investing strategy

Moneta Group Investment Advisors’ strategy is focused on proper asset allocation, as opposed to the selection of specific investments or attempts to time the market. The firm evaluates factors including money supply, interest rates, inflation forecasts and the political climate to help make recommendations that meet each client’s objectives, including their performance expectations and risk tolerance.

Moneta Group’s recommendations most frequently include bonds; cash and cash equivalents (such as money markets and certificates of deposit); large-, small- and mid-cap equities; and alternative investments. Additionally, Moneta Group Investment Advisors may seek input from third-party investment consultants.

The firm’s investment choices move between three different lists — recommended, watch and sell — and fund managers evaluate individual portfolios based on these lists. For example, if an investment lands on the sell list and it ‘s in your portfolio, then a manager will determine if liquidating that asset makes sense and where it might be reinvested, while those on the recommended list are used to build portfolios. The watch list, meanwhile, is for those investments that have been removed from the recommended list and aren’t on the sell list at that point, but are being evaluated with more caution.

Moneta Group Investment Advisors, LLC disciplinary disclosures

Moneta Group Investment Advisors reports no disclosures. For reference, all registered investment advisors are required to disclose any disciplinary history in their Form ADV paperwork filed with the SEC. This includes any civil, regulatory or criminal events involving the firm, its employees or its affiliates within the last 10 years.

For more information, visit Moneta Group Investment Advisors’ IAPD page.

2. Buckingham Strategic Partners, LLC

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  • Minimum assets required: $500,000 suggested, but not required
  • AUM: $17,620,187,705
  • Individual investor to advisor ratio: 506:1
  • Fee structure:
    • A percentage of AUM
    • Fixed fees
    • Other (fee sharing with independent registered investment advisors)
  • Firm phone number: 314-725-0455
  • Headquarters address:
    8182 Maryland Ave., Suite 500
    St. Louis, MO 63105

About Buckingham Strategic Partners, LLC

Buckingham Strategic Partners, LLC has been in business since 1997. The firm formerly operated under the name BAM Advisor Services before merging with Loring Ward in 2018. It is now a subsidiary of Focus Operating, LLC, which itself is a subsidiary of Focus Financial Partners; Focus Financial Partners is the owner of a network of partner firms, primarily in the U.S.

Buckingham Strategic Partners provides asset management services to independent registered advisors. In some cases, the firm holds discretionary authority over individual client portfolios, but it primarily helps advisors coordinate their service requisitions and provides access to some investment options, portfolio management tools and other support. In addition, Buckingham educates these advisors and provides investment recommendations to them.

In addition to its headquarters in St. Louis, Buckingham Strategic Partners has offices in San Jose, Calif., and Sacramento, Calif. It shares offices with Buckingham Strategic Wealth, LLC, a separate registered investment advisor that is also owned by Focus Financial Partners Inc.

Buckingham Strategic Partners, LLC investing strategy

Buckingham Strategic Partners believes in modern portfolio theory. The firm educates the advisors who hire them on the principles of the theory, which centers around diversifying assets in order to minimize risk and maximize returns — that means using long-term investments that are well-allocated rather than relying on market timing or stock picking.

Buckingham Strategic Partners also offers model portfolios, fixed income recommendations and investment management services to advisors and their clients. In select cases, the firm also works as a sub-advisor and oversees some portfolios, as well as fixed-income accounts.

Buckingham Strategic Partners, LLC disciplinary disclosures

Buckingham Strategic Partners has a clean disciplinary record. This means that neither the firm nor its employees or affiliates have faced any civil, criminal or disciplinary issues within the last 10 years. To learn more about Buckingham Strategic Partners, visit the firm’s IAPD page.

3. Buckingham Strategic Wealth, LLC

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  • Minimum assets required: No minimum required, though a minimum annual fee of $5,000; accounts under $500,000 accepted on a case-by-case basis
  • AUM: $16,161,203,743
  • Individual investor to advisor ratio: 40:1
  • Fee structure:
    • A percentage of AUM
    • Hourly charges
    • Fixed fees
  • Firm phone number: 314-725-0455
  • Headquarters address:
    8182 Maryland Ave., Suite 500
    St. Louis, MO 63105

About Buckingham Strategic Wealth, LLC

Buckingham Strategic Wealth, LLC was established in 1994. The firm provides wealth management services to both individuals and high net worth individuals, retirement plans, charitable organizations, foundations and corporations. In addition to managing investment portfolios, the firm’s services may include financial planning and consulting on matters such as college planning, charitable gifts, retirement and estates. It also acts in some cases as a sub-advisor to other independent registered investment advisors and their clients.

Like Buckingham Strategic Partners (see the No. 2 firm on this list), Buckingham Strategic Wealth is a subsidiary of Focus Operating, LLC, which is in turn a subsidiary of Focus Financial Partners. Though both firms operate independently, Buckingham Strategic Wealth shares offices with Buckingham Strategic Partners, and both firms are under common ownership.

In addition to its headquarters in St. Louis, Buckingham Strategic Wealth has 39 other offices throughout the U.S.

Buckingham Strategic Wealth, LLC investing strategy

Buckingham Strategic Wealth typically recommends portfolios that contain passive and evidence-based mutual funds (i.e., those with low turnover rates) and, in some cases, individual fixed-income securities and closed-end funds. Sometimes, the firm may recommend model portfolios if it deems them appropriate for a client’s situation.

Buckingham Strategic Wealth takes an evidence-based approach to investing — this means it doesn’t make decisions based on what it thinks might happen in the market, but rather based on facts derived from research and historical data.

Buckingham Strategic Wealth, LLC disciplinary disclosures

Buckingham Strategic Wealth has no disclosures to report. This means that the firm, its employees and its affiliates have not faced any civil, criminal or regulatory issues within the last decade. For more information, visit the firm’s IAPD page.

4. Prairie Capital Management, LLC

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  • Minimum assets required: None specified
  • AUM: $5,027,456,952
  • Individual investor to advisor ratio: 11:1
  • Fee structure:
    • A percentage of AUM
    • Hourly charges
    • Fixed fees
    • Performance-based fees
  • Firm phone number: 816-531-1101
  • Headquarters address:
    4900 Main St., Suite 700
    Kansas City, MO 64112

About Prairie Capital Management, LLC

Prairie Capital Management, LLC has been in business since 2010, originally under the name UMB Advisors, LLC. The firm assumed its current name later that year, after UMB Financial Corporation — a bank holding and financial company of which Prairie Capital is a subsidiary — acquired a firm which previously named Prairie Capital Management. All of the firm’s outstanding stock is owned by UMB Financial Corporation.

Prairie Capital Management provides wealth management and investment consulting services to individuals, pension and profit-sharing plans, trusts, estates, charitable organizations and businesses. Notably, though it does not specify an account minimum requirement, all of the individual investors it currently works with are high net worth.

In addition to its headquarters in Kansas City, the firm has offices in Dallas and Oakbrook Terrace, Ill., in the Chicago metro area.

Prairie Capital Management, LLC investing strategy

Prairie Capital Management doesn’t have in-house portfolio managers; instead, the firm monitors, evaluates and recommends third-party investment managers. It believes that selecting the right managers, as well as providing a customized, long-term plan for its clients, is key to their financial success.

Prairie Capital Management believes in traditional investment strategies, such as equities and fixed-income securities. Alternative strategies may be used as well: These may include private equity funds, hedge funds and direct investments in private companies and real estate. Clients’ tolerance for risk is also factored into their portfolio makeup.

Prairie Capital Management, LLC disciplinary disclosures

Prairie Capital Management has a clean disciplinary record, with no issues involving the firm, its employees or its affiliates within the last 10 years. This includes any civil, criminal or regulatory events, which the SEC requires all registered investment advisors to report in their Form ADV paperwork. To learn more about Prairie Capital Management, visit the firm’s IAPD page.

5. Plancorp, LLC

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  • Minimum assets required: No minimum
  • AUM: $4,538,740,641
  • Individual investor to advisor ratio: 27:1
  • Fee structure:
    • A percentage of AUM
    • Hourly charges
    • Fixed fees
  • Firm phone number: 636-532-7824
  • Headquarters address:
    540 Maryville Centre Drive
    Suite 105, St. Louis, MO 63141

About Plancorp, LLC

Plancorp’s roots date back to 1983, when the firm was established as FFG Plancorp, Inc. The firm changed its name to Plancorp in 1985 and has been providing investment management services ever since. Plancorp is owned by Prumentum Group, Inc. (which also owns BrightPlan, another registered investment advisor), as well as the firm’s board of managers, leadership team members and employees.

Plancorp provides financial planning, asset management and family office services to individuals, trusts, estates, charitable organizations and businesses. Headquartered in St. Louis, Plancorp also has offices in San Francisco, Sarasota, Fla. and Nashville, Tenn.

Plancorp, LLC investing strategy

Plancorp subscribes to modern portfolio theory, which calls for diversifying assets in order to minimize risk and maximize returns. The firm generally uses passively managed investments, such as mutual funds, in its client portfolios. It typically doesn’t recommend individual stocks and bonds or actively managed mutual funds, as its primary focus is on minimizing fees, taxes and other portfolio expenses.

To make fund recommendations, Plancorp uses academic-based research and reviews the fund’s operating expenses, portfolio turnover, investment objective and other criteria. Plancorp’s investment committee meets quarterly and reviews and rebalances portfolio positions as necessary.

Plancorp, LLC disciplinary disclosures

Plancorp has no disclosures on its disciplinary record. The SEC requires all registered investment advisors to report any civil, criminal or regulatory issues that may be material to a client’s evaluation on their Form ADV paperwork filed with the SEC. You can get further information on Plancorp by visiting its IAPD page.

6. Pension Consultants, Inc.

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  • Minimum assets required: Varies by program
  • AUM: $3,808,927,217
  • Individual investor to advisor ratio: 6:1
  • Fee structure:
    • A percentage of AUM
    • Hourly charges
    • Fixed fees
    • Performance-based fees
    • Other (a percentage of assets under advisement)
  • Firm phone number: 417-889-4918
  • Headquarters address:
    300 South Campbell Ave.
    Springfield, MO 65806

About Pension Consultants, Inc.

Pension Consultants, Inc. was founded in 1994 by Brian Allen, who now serves as the firm’s chairman. The firm provides advisory services to retirement plan sponsors and to individuals who participate in retirement plans. Through its RetireAdvisers Consulting Services, the firm offers individual services, which include investment oversight, retirement planning guidance and consulting in specific areas.

The firm’s headquarters are in Springfield, but it has an additional Missouri office in Joplin, where one employee is based.

Pension Consultants, Inc. investing strategy

Pension Consultants, Inc. helps companies to evaluate and monitor their retirement plans. Specifically, the firm aims to ensure plans are performing in three main ways — whether the chosen investments are performing well, the fees being paid aren’t too high and employees are able to replace an adequate amount of their working income in retirement.

Pension Consultants focuses first on analyzing money managers, then looks at individual securities; notably, the firm primarily recommends mutual funds. In general, the firm’s investment advice is guided by the following four primary methods of analysis:

  • Charting: Analyzing charts to attempt to predict future trends based on past trends.
  • Cyclical analysis: Looking at businesses cycles and the economy to try to find investments that are at a lower price just before an upturn in the market.
  • Fundamental analysis: Evaluating a security’s value based on an array of factors, including the overall economy as well as a company’s financial conditions and management.
  • Technical analysis: Looking at the historical performance of stocks and markets to predict future performance.

Pension Consultants, Inc. disciplinary disclosures

Pension Consultants reports no disciplinary disclosures, meaning that neither the firm nor its employees or affiliates have been subject to any civil, criminal or regulatory proceedings within the last decade. The SEC requires that all registered investment advisors report this information in the paperwork they are required to file. For more information, visit the firm’s IAPD page.

7. BKD Wealth Advisors, LLC

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  • Minimum assets required: No minimum
  • AUM: $3,703,993,084
  • Individual investor to advisor ratio: 34:1
  • Fee structure:
    • A percentage of AUM
    • Hourly charges
    • Fixed fees
  • Firm phone number: 417-831-7283
  • Headquarters address:
    910 East St. Louis St.
    Springfield, MO 65806

About BKD Wealth Advisors, LLC

Established in 1998, BKD Wealth Advisors, LLC provides wealth management, financial planning and consulting on investments and benefit plans. Its clients include individual investors (both with and without a high net worth), as well as businesses, pension and profit-sharing plans and charitable organizations.

The firm is a fully-owned subsidiary of BKD, LLP, a national CPA and advisory firm. It has nearly 40 offices across the country, including its headquarters in Springfield, Mo.

BKD Wealth Advisors, LLC investing strategy

BKD Wealth Advisors’ investment strategies are based on beliefs that support global diversification, the inclusion of both active and passive management in portfolios and the minimization of tax consequences. The firm also emphasizes the initial valuation of asset classes as an indication of the future return potential, and prioritizes substance over form when choosing investments.

In general, the firm’s strategies are focused on the long-term, but it does include short-term investments at times. BKD Wealth Advisors builds most portfolios using mutual funds, ETFs, bonds, stocks and alternative investments, though in some cases it may consider other investment types, and may primarily or exclusively rely on mutual funds in others.

BKD Wealth Advisors disciplinary disclosures

BKD Wealth Advisors reports no disclosures. This means that neither the firm nor its employees or affiliates have faced any civil, regulatory or criminal issues within the last 10 years. You can get more information by viewing the firm’s IAPD page.

8. Frontier Wealth Management, LLC

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  • Minimum assets required: No minimum
  • 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, Suite 650
    Kansas City, MO 64111

About Frontier Wealth Management, LLC

Founded in 2007, Frontier Wealth Management, LLC is owned by its employees and Frontier Wealth Enterprises, LLC. The firm provides investment management and financial planning services to individuals (both those who are and are not considered high net worth), as well as to trusts, estates, pension and profit-sharing plans, charitable organizations, businesses and pooled investment vehicles. The firm also manages funds in which it may advise its clients to invest.

Frontier Wealth Management has its headquarters in Kansas City, Mo. It also has offices in Arizona, Nebraska, Georgia, Kansas and Colorado.

Frontier Wealth Management, LLC investing strategy

Frontier Wealth Management relies heavily on modern portfolio theory — which calls for maximizing returns while minimizing risk — to determine its investment recommendations. The firm also believes strongly in proper asset allocation, which goes beyond diversification of assets to also account for individual portfolio objectives. It also takes into consideration the potential tax implications of investments when making its recommendations.

Generally, Frontier Wealth Management recommends the long-term purchase of securities. In some cases, however, it may suggest private investment vehicles, including private equity, venture capital and hedge funds.

Frontier Wealth Management, LLC disciplinary disclosures

Frontier Wealth Management reports no disclosures, meaning it has a clean disciplinary record. This includes any civil, regulatory or criminal issues involving the firm, its employees or its affiliates. For more information, visit the firm’s IAPD page.

9. HM Capital Management, LLC

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  • Minimum assets required: No minimum
  • AUM: $2,951,904,261
  • Individual investor to advisor ratio: 14:1
  • Fee structure:
    • A percentage of AUM
    • Fixed fees
    • Performance-based fees
  • Firm phone number: 314-746-1700
  • Headquarters address:
    8235 Forsyth Blvd., Suite 540, Clayton, MO 63105

About HM Capital Management, LLC

HM Capital Management, LLC was founded in 2005. The firm provides investment advisory and financial planning services, and the clientele served primarily consists of individuals and families both with and without high net worths, pension and profit-sharing plans, pooled investment vehicles and other institutions. The firm is owned by the MEK Family Trust (Matt Kopsky, the firm’s president and CEO is the trustee) and three other employees.

HM Capital Management’s only office is in Clayton, Mo.

HM Capital Management, LLC investing strategy

HM Capital Management takes a goal-based approach to portfolio management, meaning it uses the information it gathers about each client’s objectives to build and manage their portfolio. The firm may use both internal and external investment managers to handle client accounts, depending on the client’s unique circumstances. HM Capital Management continuously monitors client accounts and typically reviews portfolios on at least a quarterly basis.

To determine its portfolio recommendations, HM Capital Management uses a number of securities analysis methods, and also incorporates industry and financial media, third-party research, reports and public communications. Investing strategies the firm uses may include long-term purchases (those held for a least a year), short-term purchases (those sold within a year), higher frequency trading (securities sold within 30 days), short sales, margin transactions and various types of options.

HM Capital Management, LLC disciplinary disclosures

HM Capital Management, LLC reports no disclosures, meaning it has a record free of any disciplinary events involving the firm or its employees or affiliates. The SEC requires that all registered investment advisors report such incidents in their Form ADV paperwork. For more information, visit HM Capital Management’s IAPD page.

10. Matter Family Office

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  • Minimum assets required: $5 million, though some exceptions are made
  • AUM: $2,909,776,650
  • Individual investor to advisor ratio: 8:1
  • Fee structure:
    • A percentage of AUM
    • Fixed fees
  • Firm phone number: 314-862-5190
  • Headquarters address:
    7711 Bonhomme Ave, Suite 400
    Clayton, MO 63105

About Matter Family Office

Matter Family Office was founded in 1990, originally under the name Matter, Inc., and assumed its current name in 2015. It is owned by its management team and employees.

Matter Family Office provides investment advisory and financial planning services. It mainly serves high net worth families, but also works with non-high net worth individuals who are associated with those families; it doesn’t generally provide service to institutions. It typically aims to work with clients with portfolios of at least $5 million, though it may still require clients with lesser portfolios who can meet the minimum annual fee of $5,000.

In addition to its headquarters in Clayton, Mo., Matter Family Office also has offices in Denver and Dallas.

Matter Family Office investing strategy

Matter Family Office makes recommendations that follow the endowment model, which calls for diversification across asset class, geography and investment style. In general, the firm is focused on the accumulation and protection of wealth, with diversification employed to minimize risk while generating returns.

Matter Family Office’s investment committee, alongside the endowment and institution consultant Asset Consulting Group, is responsible for making recommendations for client portfolios. Portfolios are customized according to each family’s objectives and circumstances. The firm typically recommends bonds, stocks, equity, master limited partnerships, real estate and commodities.

Matter Family Office disciplinary disclosures

Matter Family Office has no disclosures. For reference, the SEC requires that all registered investment advisors report any civil, regulatory or criminal events on the paperwork they must file. You can learn more about Matter Family Office by viewing the firm’s IAPD page.

Financial advisors in Missouri: FAQ

Missouri’s 2020 state income tax rate ranges from 1.50% to 5.40%, plus an additional charge of up to $279 for inflation — the amount you ultimately pay will depend on your taxable income. Missouri doesn’t have a state estate or inheritance tax, but if Missourians receive an inheritance from a state that has one, they may be responsible for taxes and be subject to federal taxes.

The cost of a financial advisor varies based on a number of factors. In general, however, financial advisors typically charge based on either a percentage of your account balance or an hourly rate. National averages indicate that asset-based rates usually range from 0.50% to 1.25% of your account balance per year, while hourly fees typically are between $100 to $400.

No, not all financial advisor firms specialize in retirement planning. Most advisors should be able to provide some guidance on retirement strategies, but if that’s a priority for you, then you’ll want to make sure to choose an advisor who has experience and knowledge in that area. Be sure to ask an advisor questions about their background, client base and services to ensure their offerings align with your needs.

Finding a financial advisor located near you can be a nice bonus when it comes to meeting in person and forming a more personal relationship. If you’re comfortable keeping most interactions limited to electronic communications and phone calls, or if you travel to another city frequently and can meet with an advisor there, then it may not be as important to you to have an advisor near your home. At the end of the day, the choice comes down to personal preference.

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