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Choosing a financial advisor in San Antonio can be difficult given the number of financial advisors available in the “Alamo City”. Understanding your financial needs and goals and how much you’re willing to spend can be the first steps in the process of figuring out who to work with.
Comparing firms and data points can be difficult, so we compiled the most pertinent information to help guide your decision. To determine the best advisors in San Antonio, we only considered SEC-registered 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 a firm’s size. Although not formally part of our ranking, we encourage readers to take note of each firm’s client-to-advisor ratio, as this indicates how much attention you may get as a client. All data used in our methodology is taken from each firm’s most recent Form ADV filing with the SEC so as to ensure the accuracy and reliability of our rankings.
Our ranking is not indicative of which firm may be best for you, but it can help make the shopping experience easier (or at least easier than navigating the River Walk on a Saturday night). Take a look at our list below for the top firms in San Antonio and their key highlights:
| Firm | Minimum Assets Required | Fee Structure |
|---|---|---|
| Sendero Wealth Management, LLC | No minimum, but clients generally have $5 million or more in investable assets |
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| Covenant | No minimum |
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| Intercontinental Wealth Advisors, LLC | $1 million |
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| Monticello Wealth Management, LLC | No minimum |
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| Titleist Asset Management, Ltd. | No minimum |
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| Strategic Financial Concepts, LLC | $250,000 |
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| Brent Forrest & Associates, L.L.C. | $500,000 |
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| Teamwork Financial Advisors, LLC | Not specified |
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| Pax Financial Group | No minimum |
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| Kercheville Advisors, LLC | $250,000 |
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For our search, we looked at firms across the city of San Antonio. 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. Information used for our methodology criteria is taken directly from each firm’s most recent Form ADV filing and brochure, found on the IAPD database.
To localize our results for this list, we exclusively looked at firms that met the above criteria and had their headquarters in San Antonio, as per the address provided in the Form ADV. Of those firms, we only considered those that offer financial planning services and portfolio management to individual investors. To be considered for this list, firms also could have no more than one disciplinary disclosure in the past 10 years. From there, the remaining firms that met all of the above stipulations were ranked in order of highest to lowest AUM, as this is an indication of a firm’s size and how many assets it has been entrusted to manage.
In our reviews, we have also listed several other key features that will help you determine which financial advisor may be most fitting for your investing style and financial needs. While our ranking system and methodology is designed to help you compare firms, it does not indicate which firm may be best for you. All information here is accurate as of May 17, 2021, but we urge you to also evaluate these firms on https://adviserinfo.sec.gov/.
Sendero Wealth Management, LLC is a wealth advisory firm that was founded in 2008. The firm is majority owned by Sendero Partners, which is also the parent company of the broker-dealer Sendero Securities.
Typical clients of Sendero Wealth Management include individuals, families, foundations and endowments with $5 million or more to invest. The SEC defines those with at least $750,000 to invest or have a net worth of at least $1.5 million as “high net worth individuals”. However, the firm does work with clients who have under $5 million. Services offered by the firm include investment management and client education services.
Sendero Wealth Management is headquartered in San Antonio and has no additional offices.
For clients with less than $5 million in investable assets, advisors at Sendero Wealth Management use a discretionary model portfolio approach, meaning clients aren’t contacted before trades are made. Model portfolios consist of mutual funds and exchange-traded funds (ETFs).
For clients with $5 million or more in investable assets, the firm manages their money on either a non-discretionary or discretionary basis, depending on what the client prefers. To determine how to invest a client’s money, advisors at Sendero Wealth Management familiarize themselves with the client’s assets, investment goals, risk tolerance and cash flow needs.
Portfolios are then custom built to blend investment strategies in order to diversify exposure. The firm identifies three categories of investments for use in client portfolios:
Sendero Wealth Management does not have any disciplinary disclosures to report. As a firm registered with the SEC, Sendero Wealth Management is required to report any such information that would be material to clients evaluating the firm, including any civil, criminal or regulatory events involving the firm, its employees or its affiliates from within the past 10 years. For more information on Sendero Wealth Management, visit the firm’s Investment Adviser Public Disclosure (IAPD) page.
Formed in 2009, Covenant is an investment advisory firm that provides financial planning, investment management, tax planning and preparation, estate planning, charitable giving and family office services. Its clients include individuals (including those with high net worth), business entities, trusts, estates, charitable organizations and pension and profit-sharing plans. There is no minimum account size required to work with the firm.
Covenant is principally owned by John Eadie, the firm’s founder and managing director. Other members of the firm, as well as Kreske Holdings, Inc. also hold an ownership stake. Covenant is headquartered in San Antonio, and it has additional offices in Texas in Dallas and Boerne, as well as a location in Oklahoma City.
Covenant’s first step in creating a portfolio is to gather the client’s information, including their investment objectives, goals, risk tolerance and financial circumstances. For most investment management clients, Covenant creates portfolios using open-end mutual funds and ETFs; for select clients, portfolios will also include other investments, such as mutual fund securities, REITs, hedge funds, pooled investment vehicles, variable annuities and more.
Along with traditional portfolio management, Covenant offers an automated investment strategy (read: robo-advisor) that offers portfolios consisting of ETFs and a cash allocation. This program is hosted on Schwab technology.
Covenant does not have any disclosures to report, meaning the firm has a clean record. Financial advisory firms registered with the SEC are required to report their disciplinary history — including civil judicial, regulatory and criminal infractions — on their Form ADV paperwork to provide transparency for prospective or current clients evaluating the firm. For more information on the firm, view its IAPD page.
Intercontinental Wealth Advisors, LLC was founded in 1997 by John L. Kauth III, who currently serves as CEO, and Isidoro Korngold, who is chairman of the board. The two remain majority owners of the firm, which is headquartered in San Antonio and has one additional office located in Fort Lauderdale, Fla.
Intercontinental Wealth Advisors offers investment management, financial planning and comprehensive services that include family governance, insurance and annuities and alternative investments. The firm works with individuals (including those with high net worth), pension and profit-sharing plans, charitable organizations, business entities, trusts and estates, generally requiring an account size of at least $1 million.
Intercontinental Wealth Advisors creates custom-tailored portfolios for its clients. Portfolios can include investments such as stocks, bonds, mutual funds, ETFs, options, futures, derivatives and private offerings, with an emphasis on tax efficiency.
The firm believes in creating tailored asset allocation, meaning this will vary for every client and depend on their particulars, such as their risk tolerance and financial objectives. Additionally, the firm emphasizes long-term value investing, diversification and a global scope for investments, using both foreign and domestic securities.
Clients of Intercontinental can choose from wrap fee investment management services, where one fee includes advisory services fee, custody, execution fees and more, or a non-wrap fee portfolio, which charges separately for all account services.
Although Intercontinental Wealth Advisors itself does not have any legal, criminal or civil judicial events to disclose, its affiliated broker-dealer, Intercontinental Asset Management Group, Ltd., does report a disclosure. In 2016, the broker-dealer was issued a letter of acceptance, waiver and consent by FINRA and agreed to pay a $290,000 fine for failing to resolve issues involving an anti-money laundering program as well as other alleged failures to prepare reports and follow procedures between 2010 and 2013.
For more information, visit Intercontinental Wealth Advisors’ IAPD page.
Monticello Wealth Management, LLC has been registered as an investment advisor since 2015. It’s owned by Jefferson Bank, which was founded in 1946. The firm is headquartered in San Antonio and does not have any additional offices.
Monticello Wealth Management offers services such as investment management, financial planning, consulting and more to clients including individuals (including those with high net worth), pension and profit-sharing plans, trusts, estates, charitable organizations, corporations and other business entities. The firm does not require a minimum account size.
Advisory advice at Monticello Wealth Management is tailored to each client’s unique financial needs. When you begin a relationship with the firm, your advisor will gather information on your financial objectives and goals, time horizon and risk tolerance in order to customize a model portfolio for you.
In general, Monticello Wealth Management invests client funds in low-cost ETFs, as it believes that a portfolio’s asset allocation is what drives returns over time. The firm also believes in long-term investing strategies, generally investing for five to 10 years at the minimum.
Clients of Monticello Wealth Management also have the option to use the firm’s automated investment program called iDirect, which is a robo-advisor service hosted by Schwab. Portfolios in this program will consist of ETFs and a cash allocation.
Monticello Wealth Management does not have any disciplinary actions to report. Registered financial advisory firms must disclose facts material to the evaluation of the firm’s integrity for clients and potential clients to review. This includes any civil, criminal or regulatory events within the last decade involving the firm or its employees or affiliates. For more information, visit Monticello Wealth Management’s IAPD page.
Titleist Asset Management, Ltd. began operations in 2003. The firm is owned by its co-founders, J.B. O’Banion and Byron Fields, and Russell King, a partner at the firm.
Titleist Asset Management offers investment advisory services, financial planning and corporate retirement plans to individuals (including those with high net worth), trusts, estates, corporate retirement plans, charitable organizations and corporations or businesses. There is no minimum account size requirement.
The firm is headquartered in San Antonio, with additional offices in Dallas, Austin, Texas and New York.
Titleist Asset Management generally recommends a diversified investment strategy to its clients. Portfolios may consist of domestic and international equities, fixed income, mutual funds, ETFs, unit investment trusts and more. Client particulars — including liquidity needs and risk tolerance, as well as tax considerations — will determine the exact makeup of a portfolio.
Titleist Asset Management offers several investing strategies to its clients. For example, there is the Avocet Strategy, which aims to generate above-market returns and long-term capital appreciation by investing in foreign and domestic publicly traded securities. Another is the Titleist Dividend Growth Strategy, which seeks long-term total returns and dividend income. The firm also offers funds that clients can invest in.
Titleist Asset Management has not encountered any legal or disciplinary events in the last 10 years. All SEC-registered investment advisors must report events that may be material to a client’s evaluation of the firm’s integrity on public brochures filed online. This may include any civil, criminal or regulatory events involving the firm or its employees or affiliates.
For additional information about the firm, visit its IAPD page.
Strategic Financial Concepts, LLC began providing investment advisory services in 2006. The firm is owned by Reagan Lee Wagner, who is the firm’s managing member and CEO, and Leslie Kristen Wagner, the firm’s chief operating officer.
Strategic Financial Concept works with individuals (including those with high net worth), pension and profit-sharing plans, trusts, estates, charitable organizations, corporations and other business entities. It provides investment management, wealth management, financial planning and consulting services. For advisory accounts, the firm typically has a minimum of $250,000.
Strategic Financial Concepts is headquartered in San Antonio, Texas and has 26 other offices, some operating under different names. Its additional locations are mostly located in cities across Texas as well as in Edmond, Okla., and Metairie, La.
As a client of Strategic Financial Concepts, if you opt for the firm’s active investment management services, your portfolio may include mutual funds, stocks, bonds, ETFs, options and more. Additionally, Strategic Financial Concepts offers a number of model portfolios through programs that are sponsored by LPL Financial, a separate investment advisor and broker-dealer. In this case, investment strategies will vary depending on which model portfolio you select.
Your financial landscape — including your investment objectives, time horizon and risk tolerance — will shape your portfolio’s construction and recommended model portfolio.
Firms registered with the SEC are required to disclose disciplinary events that would be material to a client’s evaluation of the firm; Strategic Financial Concepts does not have any such information to report. This includes any civil, criminal or regulatory events involving either the firm or its affiliates or employees from within the last 10 years.
For more information on Strategic Financial Concepts, visit the firm’s IAPD page.
Established in 1995, Brent Forrest & Associates, L.L.C. is an investment advisory firm headquartered in San Antonio, its sole office location. The firm is owned by Priscilla A. McKinley, who serves as president and managing partner, and Esmond M. Pabilona and Anders O. Storvik, two client advisors and partners of the firm.
Brent Forrest & Associates provides investment management and supervision services and financial planning, including tax planning, retirement planning and estate planning. It primarily works with individual investors who have at least $500,000 to invest.
Advisors at Brent Forrest & Associates believe in active portfolio management rather than passive index investment. As such, the firm conducts first-person research and analysis to identify potential investment opportunities. However, it does not engage in market timing or attempt to place tactical bets.
To create portfolios, advisors take into consideration a client’s financial needs and objectives as well as their investment objectives, risk tolerance and tax status. The firm believes that asset allocation is a leading driver of long-term rate of return. It aims to achieve global diversification by using non-correlating assets and striking a balance between growth and value styles. Portfolios typically include institutional mutual funds that are not typically available to investors.
Brent Forrest & Associates does not have any applicable disciplinary events to disclose. As a registered financial advisory firm, it is required by the SEC to disclose legal and disciplinary events material to a client’s evaluation of the advisory business or the integrity of its management in its Form ADV paperwork. For further information on Brent Forrest & Associates and to view its Form ADV, visit the firm’s IAPD page.
Teamwork Financial Advisors, LLC became a registered investment advisor in 2012. The firm is fully owned by Douglas Moe, its founder and CEO.
Teamwork Financial Advisors offers its services to individuals (including those with high net worth), pension and profit-sharing plans, trusts, estates, charitable organizations and corporations or business entities. Its available services include asset management as well as financial planning and consulting. The firm does not specify a minimum account requirement.
Headquartered in San Antonio, Teamwork Financial Advisors has additional offices in Texas in New Braunfels, Laredo, McAllen and Houston.
At Teamwork Financial Advisors, portfolios are managed in accordance with a client’s financial situation, investment objectives and risk tolerance. The firm’s primary investing strategy is strategic asset allocation using a core and satellite approach. In this approach, the core portion of the portfolio is a passive investment, such as investments that track a major market index, while the satellite portion is an actively managed investment that aims to achieve greater returns in comparison to the passive investment.
The firm generally provides investment advice on mutual funds, ETFs and individual stocks and bonds. Though it typically does not attempt to time the market, Teamwork Financial Advisors may make adjustments to a client’s portfolio in response to certain circumstances.
Teamwork Financial Advisors does not have any legal, criminal or civil judicial events to disclose. Financial advisory firms registered with the SEC must report any facts that would be material to a client’s evaluation of the firm and its management in publicly available fillings. For more information about Teamwork Financial Advisors, visit its IAPD page.
Founded in 2007, PAX Financial Group is a registered investment advisor that offers portfolio management, financial planning and retirement plan consulting services. The firm is principally owned by co-founders Darryl Lyons and Joseph Schuetze. Lyons currently serves as the firm’s CEO, and Schuetze is a board member and financial advisor at the firm.
Typical clients of PAX Financial Group include individuals (including those with high net worth), trusts, estates, small businesses, corporations and their pension and profit-sharing plans. There is no minimum account value required to open an account at the firm.
PAX Financial Group is headquartered in San Antonio and has an additional office in New Braunfels, Texas.
PAX Financial Group follows Modern Portfolio Theory, an investing strategy centered on the beliefs that diversification can help optimize return for risk-averse investors. Additionally, the firm’s philosophy is based on the Efficient Market Hypothesis, which holds that it is impossible to beat the market because it is inherently efficient.
PAX Financial Group takes a team approach to asset management, with an investment committee determining various portfolio makeups that satisfy differing investing goals. Prior to creating a client’s portfolio, the firm will determine a client’s financial factors, such as their risk tolerance, liquidity needs and investment objectives. In general, portfolios include domestic and foreign stocks, ETFs, mutual funds and bonds. The firm typically holds investments for long periods, reallocating investments and rebalancing portfolio holdings as needed.
PAX Financial Group has not been involved in any events requiring disclosure. SEC-registered investment advisors are required to report any civil, criminal or regulatory events involving the firm, its employees or its affiliates in their Form ADV paperwork. For more information on PAX Financial Group, you can visit the firm’s IAPD page.
With roots dating back to 1984, Kercheville Advisors, LLC is owned by Joe Kercheville, the firm’s co-founder and its current president and CEO. Today, the firm operates out of its headquarters in San Antonio.
Services offered by Kercheville Advisors include portfolio management, financial planning and pension consulting services. The firm works with individuals (including those with high net worth), pension and profit-sharing plans, trusts, estates, charitable organizations, investment companies, corporations and other business entities. It generally has a $250,000 minimum account size requirement.
Unlike many financial advisory firms, Kercheville Advisors prefers individual stocks over ETFs or mutual funds. Kercheville Advisors specializes in equity stock picking, as it believes that individual securities are more tax-efficient in the long run.
When evaluating potential investment opportunities, the firm uses fundamental and technical analysis. This involves, among other things, analyzing economic factors, such as interest rates, the future growth of an industry. This information generally guides the firm’s decisions regarding asset allocation and investment policy, though it also takes into account a client’s financial objectives, current investments and holdings, risk tolerance, net worth, net income, age, investment time horizon and tax situation when determining which investments are appropriate.
Kercheville Advisors does not have any disciplinary events to disclose. As a registered investment advisor, the firm is required to disclose all material facts regarding any legal, criminal or disciplinary events that would be material to a client’s evaluation of the firm. Visit Kercheville Advisors’ IAPD page for further information.
No, not all financial financial advisor firms specialize in retirement planning. While many firms do offer retirement planning services, some firms focus only on investment management or specialize their services according to the needs of a unique client set, such as those who are high net worth, or around a specific service, like divorce or legacy planning.
Texans have it easier than many states: Residents in the Lone Star State are not subject to income tax, estate or inheritance taxes. Federal estate taxes may still apply to estates above a certain size though.
Finding the right financial advisor for you will depend on your financial objectives and needs. To start, take a look at lists like the one above to get an idea of what’s available and what services are offered. The next step is scheduling time to speak to advisors before committing to one; ask questions to determine who is the best fit for you and your financial situation.
The rates charged by financial advisors in San Antonio will depend on which firm you work with and how the firm structures its fees. You can usually find this information by looking at a firm’s publicly available documents, which you can find on the SEC’s IAPD site. Most often, advisors charge clients based on a percentage of assets under management, with the nationwide average for financial advisory services hovering around 1.17% of AUM, as determined by a study by RIA in a Box.
Nina SemczukNina Semczuk is a Certified Educator in Personal Finance® (CEPF®), a member of the Society of American Business Editors and Writers, and an Army veteran with five years of active service.
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