As the saying goes, everything is bigger in Texas and this perhaps extends to the pool of financial advisor options in the state. All those options in the Lone Star State can make the process of choosing a financial advisor feel overwhelming, though it really all boils down to defining what would be the right fit for your unique financial situation, needs and goals.
In the hopes of making your search easier, however, we’ve compiled a list of the best advisors in Texas, determined by considering only the firms that manage individual accounts and offer financial planning, and then ranking the firms that remained according to assets under management (AUM). All information used in our methodology was pulled from each firm’s most recent Form ADV filing with the Securities and Exchange Commission (SEC).
Our ranking is not meant to answer the question of which advisor will be right for you, but it can hopefully make your search feel like less of a Texas-sized undertaking. Take a look at our list below for the top firms in Texas and their key highlights:
How much would you like to invest?
|Firm name||City||Minimum assets required||Fee structure|
|Victory Capital Management Inc.||San Antonio||Varies by account type|| |
|LeafHouse Financial Advisors, LLC||Austin||None|| |
|Avalon Investment & Advisory||Houston||$5 million|| |
|Tolleson Private Wealth Management||Dallas||$10 million|| |
|U.S. Capital Wealth Advisors, LLC||Houston||$50,000|| |
|RGT Wealth Advisors||Dallas||$3 million|| |
|TCG Advisors||Austin||None|| |
|Retirement Planners of America||Plano||None|| |
|Linscomb & Williams||Houston||$1 million|| |
|CH Investment Partners, LLC||Dallas||$40 million|| |
Victory Capital Management‘s roots date all the way back to 1894, when it was organized. The firm began managing tax-exempt assets in 1912, and its registration with the SEC dates back to 1972. Today, the firm offers investment advisory services through separate accounts, pooled vehicles, model portfolios and an online digital platform. It also provides financial planning services to some clients of its online program. The majority of Victory Capital Management’s clients are individuals without a high net worth, though its client base also includes high net worth individuals and various institutional investors.
The firm is a wholly owned subsidiary of Victory Capital Holdings, Inc., a publicly traded corporation is in turn owned primarily by the private equity firm Crestview Partners II GP, L.P. and also some Victory Capital employees and outside investors. Victory Capital Management has its headquarters in San Antonio, with 10 additional office locations throughout the U.S.
Victory Capital Management operates through a number of investment franchises, each of which has control over its investment approach. However, each team is supported by common infrastructure provided by Victory Capital. Additionally, the firm offers a multitude of investment strategies that can be used as part of a client’s overall asset allocation. These include domestic and international equities, convertibles, fixed income and alternative asset strategies.
For individual investors, Victory Capital Management offers the option to invest through a separate account based on an investment advisory agreement or through a model portfolio program, with options including a unified managed account or a 529 plan. The firm also has a digital online platform for clients.
Victory Capital Management reports no disciplinary disclosures. This means that neither the firm nor its employees or affiliates have encountered any civil, criminal or regulatory issues within the last 10 years. As a registered investment advisor, the firm is required by the SEC to report this information in its Form ADV.
To view Victory Capital Management’s Form ADV and to learn more about the firm, visit its Investment Adviser Public Disclosure (IAPD) page.
Established in 2009, LeafHouse Financial Advisors is a registered investment advisor that works with individuals (both high net worth and not), businesses, retirement plans and other financial advisors. LeafHouse offers investment advisory services, assistance in designing and implementing business and nonprofit retirement plans and investment model portfolios. Financial planning services are provided on an invitation-only basis.
The firm is owned by LeafHouse Financial Group, LLC, which is in turn owned by Todd Kading, who is LeafHouse’s president, and Neal Weaver, the firm’s CEO. Its only office location is in Austin.
LeafHouse Financial Advisors believes in cyclical investing, which posits that particular companies or sectors tend to respond to economic conditions in a predictable manner. Stocks that are cyclical are thus highly correlated with the market and with broader economic conditions. When investing, LeafHouse attempts to identify companies that it anticipates will perform well in the conditions it’s forecasted.
To assess potential investments, the firm relies on different forms of analysis as well as due diligence on potential investment managers. It does not adhere to any preset investment strategies but rather customizes its approach based on each client’s unique needs. LeafHouse generally steers clear of investment strategies that it deems too speculative.
LeafHouse Financial Advisors has no disciplinary disclosures on its record at this time. As a registered investment advisor, it is required by the SEC to report any civil, criminal or regulatory actions involving either the firm or its employees or affiliates from within the past decade.
For further information on LeafHouse Financial Advisors, visit its IAPD page.
Avalon Investment & Advisory, which is officially registered with the SEC under the name Avalon Advisors, LLC, was founded in 2001. It is owned by firm employees, clients and entities that are part of The Cynosure Group, LLC, which is a Salt Lake City-based family office firm.
Avalon Investment & Advisory provides investment advice, asset allocation and related services to high net worth clients and institutional investors. The firm also acts as investment manager to five privately placed pooled investment funds.
Though clients generally need to invest at least $5 million for the firm to act as their investment advisor, it does serve some individual clients who do not qualify as high net worth individuals, defined by the SEC as those with at least $750,000 under management or a net worth of at least $1.5 million. This may be due in part to the fact that certain funds have lower account minimums.
Avalon is headquartered in Houston, with an additional office in San Antonio.
Avalon Investment & Advisory employs a combination of investment strategies, including long-term and short-term purchases, trading, short sales, margin transactions and option writing. The firm takes a long-term view of investing in an effort to provide higher after-tax returns, and seeks to maintain low volatility.
Avalon may suggest that clients invest in private funds, some of which are managed by unaffiliated managers and some of which are overseen by Avalon. During times of perceived higher market risk, Avalon may hold a significant part of an account’s assets in cash or cash equivalents. The firm generally doesn’t use hedging, options or derivatives and leverage.
Neither Avalon Investment & Advisory nor any of its supervised persons have been involved in any legal or disciplinary events, which would include criminal or civil action in court, and administrative proceedings before the SEC or any other regulatory agency. You can find more information on the firm’s IAPD page.
Tolleson Private Wealth Management was founded in 2000 and is owned by Tolleson Wealth Management, which is majority owned and controlled by John Tolleson, who serves as the firm’s executive chairman. The firm started as a single-family office to serve the Tolleson family, and it now offers multifamily office services to high net worth individuals. It generally requires a minimum account size of $10 million.
Offerings include strategic wealth and investment management, tax planning and bookkeeping, private banking, trust and estate help and assistance with philanthropy and family learning. The firm is located in Dallas.
Tolleson Private Wealth Management works with each client to create a plan for their investments. The firm then researches and evaluates investments using quantitative data, qualitative information and/or interviews with investment managers. If a client needs discretionary bond management services, the firm evaluates fixed income securities based on issuer ratings, liquidity of securities and sector and geographic diversification.
Tolleson Private Wealth Management doesn’t engage in classic security analysis, meaning it doesn’t assess the expected performance of investments. Instead, the firm views itself as an overall portfolio manager, with advisors focused on helping clients set investment goals and determine an asset allocation strategy, which the firm then implements.
Tolleson Private Wealth Management has no disciplinary disclosures reported on its Form ADV. For reference, the SEC requires all registered investment advisors to disclose any civil, criminal or regulatory actions against the firm, its employees or its affiliates within the last 10 years. For more information on the firm, visit its IAPD page.
U.S. Capital Wealth Advisors offers a full suite of wealth management services, which includes account management, financial planning and general advisory or consulting services. The firm’s clients include individuals both high net worth and not, as well as trusts, estates, businesses, pension and profit-sharing plans and charitable organizations.
Until May 2021, U.S. Capital Advisors was known as Legacy One Financial Advisors, LLC, a registered investment advisor that began business in 2017. The firm changed its name after interests were acquired by entities affiliated with U.S. Capital Advisors. Today, the firm is owned by U.S. Capital RIA Investors, LLC, Legacy One Financial Holdings, LLC and PLH Financial Holdings, LLC.
U.S. Capital Wealth Advisors can use a wide range of investing strategies, ranging from a more conservative approach to one that is more high risk or aggressive. The firm ultimately bases its chosen investment strategy for a client on the client’s goals, risk tolerance and objectives, though methods can vary depending on whether the account is managed by an advisor at U.S. Capital Wealth Advisors or an external manager.
Investments used in client portfolios can include mutual funds, exchange-traded funds (ETFs) and individual stocks and bonds. When appropriate, alternative investments and private placements may be used, as well as the buying and selling of puts and calls.
There are no disciplinary disclosures on U.S. Capital Advisors’ record. This means that the firm, its employees and its affiliates have not faced any civil, criminal or regulatory issues in the last 10 years.
For further information, visit U.S. Capital Wealth Advisors’ IAPD page.
RGT Wealth Advisors went into business in 1985, and is owned by current and former managing directors at the firm. The company has one office in Dallas.
RGT Wealth Advisors provides investment management, financial planning and family office services. High net worth individuals make up the majority of its client base, though it also works with individual investors who do not meet this definition as well as trusts, estates, charitable organizations and private funds.
Working with RGT Wealth Advisors generally requires a minimum investment of $3 million, though the firm may waive this requirement at its discretion.
RGT Wealth Advisors takes a long-term approach to portfolio management, focusing on creating a diversified portfolio of mutual funds, ETFs and individual securities. Portfolios may also include investments in hedge funds, private equity investments or other partnerships when appropriate.
The firm manages each client’s portfolio in accordance with their investment policy statement, created at the start of the relationship based on the client’s long-term goals, risk tolerance and liquidity needs. This policy statement is what will ultimately determine a client’s precise asset allocation.
RGT Wealth Advisors reports no disciplinary disclosures, which can include any civil, criminal or regulatory events from the past decade involving the firm or its affiliates or employees. The SEC requires that all registered investment advisors report such incidents in their Form ADV paperwork. For more information on RGT Wealth Advisors, visit the firm’s IAPD page.
TCG Advisors, which has been in operation since 2020, provides investment advisory services, financial plans and retirement plans to individuals, pension and profit‐sharing plans, trusts, businesses, individual retirement accounts, state and municipal government retirement plans, public school district funds and other entities. Additionally, through its affiliate TCG Consulting Services, LLC, it can offer institutional consulting services as well as various family office services.
TCG Advisors is headquartered in Austin and has additional offices in Texas in Fort Worth and Addison, as well as a location in Temecula, California. It is owned by HUB International Limited, one of the largest insurance brokerages.
In investing, TCG Advisors’ aim is to achieve higher returns while managing risk. The firm offers several firm-wide portfolio strategies and also provides more customized solutions to clients as needed based on their objectives, risk tolerance and restrictions, among other parameters.
Portfolio options will have varying allocations among cash, equity, fixed income and alternative investments. Strategies may use individual securities, ETFs, mutual funds, closed-end funds and private investments.
TCG Advisors has a clean record, free of any disciplinary disclosures. Neither the firm nor its employees or advisory affiliates have encountered any issues within the last decade, including any actions of a civil, criminal or regulatory nature.
For further information on the firm, visit TCG Advisors’ IAPD page.
Retirement Planners of America was established in 2011. The firm is principally owned by the four senior advisors on its team.
Retirement Planners of America offers financial planning, retirement planning, investment management, family legacy planning and income tax planning to individuals. It predominantly serves individual investors who do not meet the SEC’s definition of high net worth, though a sizable portion of its clients are considered high net worth individuals. The firm also works with pension and profit-sharing plans.
Headquartered in Plano, the firm has several locations in Texas, as well as offices in California, Arizona, Oklahoma and Utah.
Retirement Planners of America primarily recommends mutual funds, variable annuities and fixed annuities for its clients. It may also use equities and ETFs. Clients are either assigned to one of the firm’s mutual fund asset allocation models or their assets may be invested in separately purchased mutual funds and/or ETFs, depending on their investment objectives.
The firm employs several methods of analysis to determine its investment advice. This may include charting price and volume information, analyzing individual companies and their industry groups, studying past price patterns and trends, evaluating recurring price patterns and trends and purchasing securities for long-term holds. Potential clients should note that tax efficiency is generally not the firm’s primary consideration in the management of assets, and thus the firm recommends consulting with a tax professional on these matters.
There are no disciplinary disclosures reported on Retirement Planners of America’s Form ADV paperwork, which includes any legal or disciplinary events that are material to a client’s evaluation of the business or the integrity of its management. You can find more information about the firm on its IAPD page.
Established in 1971, Linscomb & Williams is a wholly owned subsidiary of Cadence Bank. The firm offers financial planning, portfolio management, general financial consulting and retirement plan services. Though it generally requires an account of at least $1 million, the firm serves individual investors who do and do not meet the SEC’s definition of high net worth, as well as trusts, estates, charitable organizations, retirement plans and businesses.
Linscomb & Williams’ main office is located in Houston, but it also has offices in the Lonestar State, The Woodlands and Fredericksburg. It also has a location in Birmingham, Ala. Additionally, the firm has a branch in Atlanta that operates as Atlanta Wealth & Pension Team, a division of Linscomb & Williams.
Linscomb & Williams develops an investment plan for each client based on their risk tolerance, return goals, liquidity needs and any special factors that may apply to their situation. The firm uses a variety of investments to implement the plan, including individual stocks, mutual funds, ETFs, various kinds of bonds and cash and equivalents.
Linscomb & Williams relies on internal and external research to choose investments for clients, carried out by its 13-member investment committee helmed by its chief investment officer and the committee’s chairman. Its recommendations generally emphasize long-term purchases rather than short-term trading.
Linscomb & Williams has no disciplinary events to report. This includes any civil, regulatory or criminal actions from the last 10 years related to the firm, its employees or its affiliates. For more information or to view the firm’s Form ADV paperwork filed with the SEC, visit its IAPD page.
CH Investment Partners, LLC was established in 2019 and acts as an investment advisor to high net worth individuals and families, among other entities, with the goal being for each client and/or their affiliates to ultimately have at least $40 million in assets under management, advisement or supervision. The firm was originally part of Crow Holdings Capital – Investment Partners, but it is now primarily owned by its co-presidents, Mike Silverman and Kirk Rimer.
Services the firm provides include advisory services, consulting, financial planning, family office services and other non-advisory services. It also provides services to affiliated pooled investment vehicles.
CH Investment Partners is headquartered in Dallas, but it has another office in Tulsa, Okla.
CH Investment Partners offers a variety of investment strategies, chosen specifically for the ultrahigh net worth set. These include global equities, hedge funds, private equity and direct investments, opportunistic investment opportunities like mineral rights, commodities and infrastructure, real estate and fixed income allocations.
The firm generally recommends that clients invest or allocate assets to one or more of the funds that it advises and manages, along with certain underlying funds and/or underlying accounts. It may also invest directly in securities, financial instruments, private investments and other assets. In general, client portfolios are built in accordance with their investment advisory agreements, set out at the beginning of the relationship, as well as the client’s investment guidelines and restrictions, financial situation, objectives and risk tolerance.
CH Investment Partners has no disciplinary disclosures. This means its record is free of any civil, regulatory or criminal actions involving the firm, its employees or its affiliates. The SEC requires all registered investment advisors to report such actions on their Form ADV paperwork. For more information or to see the firm’s Form ADV, visit its IAPD page.
The tax situation in Texas is pretty low-key. It is one of several states that has no income tax, and there’s no state inheritance tax or estate tax either. You are, however, still subject to federal estate and inheritance tax.
A fee-only financial advisor has a few advantages. First, they don’t accept fees or commissions for the products they sell and solely earn money from the fees their clients pay, so there’s less chance of a conflict of interest. Additionally, most fee-only advisors are fiduciaries, meaning they are required to put your best interests first.
There are no specific requirements for financial advisors in the state of Texas, which is why experts recommend finding a financial professional with an industry certification to indicate that they’ve been trained in the field. Certified financial planners (CFPs), for instance, are required to complete an educational program, pass an exam and have a certain level of experience to earn the certification.
No, not all financial advisor firms specialize in retirement planning. It’s a good idea to look for a CFP or an advisor with a certification signifying a specialization in retirement planning if you know this is an area where you’ll need help. Some certifications that have a retirement planning focus include a chartered retirement plans specialist (CRPS), a retirement income certified professional (RICP) or a chartered retirement planning counselor (CRPC), for example.
Make sure you check any “senior” or “retirement” related designations with the Financial Industry Regulatory Authority (FINRA), which lists all of them on their website. Some designations can be acquired after no more than a weekend seminar and some are even fabricated.
For our search, we looked at firms across the state of Texas. All of the firms considered are bound by fiduciary duty, registered with the 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 Texas, 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 February 3, 2022, but we urge you to also evaluate these firms on adviserinfo.sec.gov.
The “Find a Financial Advisor” links contained in this article will direct you to webpages devoted to MagnifyMoney Advisor (“MMA”). After completing a brief questionnaire, you will be matched with certain financial advisers who participate in MMA’s referral program, which may or may not include the investment advisers discussed.