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Updated on Friday, October 9, 2020
Choosing a financial advisor in Dallas can be a challenge given the number of financial advisors in the city. Finding the right advisor is largely about figuring out the right fit, which means understanding your financial needs and goals, and how much youâ€™re willing to spend.
That being said, we understand it can be difficult to compare firms and data points, so we compiled the most important information to help guide your decision. To determine the best advisors in Dallas, 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 firmâ€™s size, and client-to-advisor ratio, which indicates how much attention you may get as a client.
Our ranking is not indicative of which firm may be best for you, but it can help make the experience of searching for a financial advisor easier. Check out our list below for the top firms in Dallas and their key highlights:
For our search, we looked at firms across the city of Dallas. 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, weâ€™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 October 9, 2020, but urge you to evaluate these firms on https://adviserinfo.sec.gov/.
Established in 2000, Tolleson Private Wealth Management is owned by John Tolleson, who serves as the firmâ€™s executive chairman. It is a subsidiary of Tolleson Wealth Management, a multifamily office that also provides private banking, tax and bookkeeping services. Its only office location is in Dallas.
Primarily serving high net worth clients, Tolleson Private Wealth Management provides wealth management, financial planning, investment strategy, tax and bookkeeping, trust and estate planning and private banking services. The firm also offers advisory services to estates, trusts, foundations, a group of private investment funds and trust accounts at Tolleson Private Bank and National Philanthropic Trust. It generally requires a minimum account size of $10 million.
Tolleson Private Wealth Management uses quantitative data, qualitative information and interviews with its investment managers to determine its investment advice. Rather than evaluating the performance of specific investments, the firm focuses on each clientâ€™s overall investment goals and objectives to shape an asset allocation strategy.
Portfolios may consist of exchange-traded funds (ETFs), mutual funds, separately managed accounts, fixed income investments and limited partnerships, with a focus on protecting assets and minimizing taxes. The firm also offers exclusive, private investment funds to its clients.
Tolleson Private Wealth Management reports no disclosures. 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 Tolleson Private Wealth Managementâ€™s IAPD page.
Founded in 1985, RGT Wealth Advisors provides investment management, financial planning and family office services. The firm primarily serves high net worth individuals â€” who the SEC defines as those with at least $750,000 under management or a net worth of at least $1.5 million â€” but its clients also include individuals who donâ€™t meet this definition as well as trusts, estates, charitable organizations and private funds.
RGT Wealth Advisors is owned by a group of 17 employees, including the firmâ€™s CEO, Mark Griege. Its only office location is in Dallas.
RGT Wealth Advisors believes in taking a long-term, customized approach based on clientsâ€™ goals, risk profile and need for income growth. The firm creates client portfolios that consist of various asset classes, including mutual funds, ETFs, balance funds partnerships and outside account managers. When appropriate, it may also use hedge funds, private equity investments and other partnerships.
RGT Wealth Advisors has an investment committee that is responsible for monitoring its approved investments and evaluating potential new investment opportunities.
RGT Wealth Advisors reports no disciplinary history. The SEC requires all registered investment advisors to report their disciplinary history â€” including any civil, criminal or regulatory events involving the firm, its employees or its affiliates over the last 10 years â€” in their Form ADV paperwork. For more information, visit the firmâ€™s IAPD page.
CH Investment Partners, LLC was established in 2019, having previously operated as a division of Crow Holdings Capital Partners, LLC, a real estate investment and development firm. CH Investment Partners is now primarily owned by Michael Silverman and Kirk Rimer, who are co-presidents of the firm.
The firm provides services including portfolio management, financial planning, investment selection and advice, family office services and consulting. Its clients are primarily high net worth individuals and families, though it also is capable of serving pooled investment vehicles, estates, trusts, foundations, endowments, charitable organizations and corporations.
In addition to its office in Dallas, the firm has a location in Tulsa, Okla.
CH Investment Partners states that all of its investment strategies are chosen specifically for the ultrahigh net worth. The firm bases its investment recommendations around diversification, appropriate liquidity terms and fee structures.
Investments used in client portfolios generally include global equities, hedge funds, private equity and direct investments, master limited partnerships, real estate and fixed income. CH Investment Partners typically advises clients to invest in one of its funds or underlying funds.
CH Investment Partners reports no legal or disciplinary history. This includes any civil, criminal or regulatory events over the last decade involving the firm, its employees or its affiliates. For more information, view the firmâ€™s IAPD page.
Frontier Investment Management Co. has been in business since 1994. The firm is owned by Gary Schoen, who also serves as the companyâ€™s president, and employees Rich Sowden and Brian Hattendorf.
Services the firm offers include investment management, retirement plan consulting and financial planning.The firm also provides automated portfolio management through its platform FrontierNEXT, which requires a minimum investment of $5,000. Its clients include individuals who are and are not considered high net worth (meaning they have at least $750,000 under management), as well various institutions.
In addition to its headquarters in Dallas, the firm has additional offices in Texas in Houston, Austin and San Antonio, as well as locations in Arizona, California, Colorado, Florida and Louisiana, for a total of 20 offices.
Frontier Investment Management Co. firm strives to provide a diverse assortment of investments from around the globe, with a focus on asset preservation. Each clientâ€™s portfolio is designed according to their risk tolerance with the aim of maximizing total returns, and an eye toward comprehensive wealth management, cost efficiency and the clientâ€™s goals.
Individual stocks, bonds, mutual funds and ETFs are the primary investments recommended by Frontier Investment Management Co. for its clientsâ€™ portfolios. However, the firm may also use hedging and option strategies in some cases.
Frontier Investment Management Co. reports one disciplinary disclosure on its Form ADV paperwork filed with the SEC. The disclosure stems from an incident in which one of the firmâ€™s advisors was suspended for non-payment of annual attorney registration fees.
For more information, visit Frontier Investment Management Co.â€™s IAPD page.
Southern Wealth Management LLP has been offering its services since 2005. Richard Jones, the firmâ€™s managing partner, alongside Thomas Gile and Michael Olson, both of whom are partners at the firm, are Southern Wealth Managementâ€™s primary owners. In addition to the firmâ€™s office in Dallas, it has offices in San Antonio and New Orleans.
Southern Wealth Management offers a full range of services, including investment portfolio design and management, general financial planning, estate planning, business succession planning, tax services, life insurance strategy, philanthropic planning and family office services.
With its $1 million account minimum requirement, all of the individual investors that Southern Wealth Management serves qualify as high net worth, meaning they have at least $750,00 under management or a net worth of at least $1.5 million. It also works with trusts, retirement plans, pension and profit-sharing plans, charitable organizations and various business entities.
Southern Wealth Management creates portfolios that include equities, bonds and mutual funds, with the asset allocation based on each clientâ€™s individual needs and goals. The firm bases its recommendation on a variety of methods of analysis as well information gleaned from financial publications, corporate rating services, annual reports and company press releases.
Instead of quarterly or annual portfolio reviews, which most firms offer, Southern Wealth Management believes in continuous evaluation throughout the year.
Southern Wealth Management reports no legal or disciplinary history. This means that it has a record free of any civil, regulatory or criminal events within the last 10 years involving the firm, its employees or its affiliates. All registered investment advisor firms are required to report such incidents in their Form ADV paperwork filed with the SEC. For more information and to view the firmâ€™s Form ADV, visit Southern Wealth Managementâ€™s IAPD page.
Established in 2005, Level Four Advisory Services is owned by Level Four Group, which is ultimately owned by Carr, Riggs and Ingram, L.L.C., a limited liability company in Alabama. Level Four Advisory Servicesâ€™s branch offices â€” of which it has 70 across the country in addition to its Dallas headquarters â€” do business under various individual names.
The firmâ€™s advisory services include asset management, financial planning, risk management, business services and retirement plan services. With account minimums varying by program, the firm serves both individuals who are and are not high net worth, as well as pension and profit-sharing plans, trusts, estates and businesses.
Level Four Advisory Services takes a team approach to advising its clients, though individual advisors may use differing investment strategies and methods of analysis.
As the firmâ€™s name states, there are four levels to the service it provides: Organize, create, plan and communicate. The firm primarily uses a strategic asset allocation strategy when it comes to investments, which means it buys and holds assets rather than actively trading them. Other investment strategies used include tactical asset allocation, long- and short-term purchases and trading.
Level Four Advisory Service does not have any disclosures. This means its record is clean of any civil, regulatory or criminal events involving either the firm or its employees or affiliates. The SEC requires all registered investment advisors to report such incidents from within the last 10 years on their Form ADV paperwork. For more information, visit Level Four Advisory Servicesâ€™ IAPD page.
Advisor Resource Council was founded in 2012 when two wealth management firms, Faubourg Private Wealth and 360 Wealth Management, merged. Advisor Resource Council is owned by a group of seven employees.
The firmâ€™s services include asset management, financial planning and consulting, retirement plan consulting and referrals to third-party money managers. The firm serves individuals, including high net worth individuals, as well as retirement plans, charitable organizations and businesses.
In addition to its headquarters in Dallas, the firm also has an office in Metairie, La., and more than 50 independent advisor offices (each individually named) across the country to whom they provide services.
Each of Advisor Resource Councilâ€™s investment advisor representatives may use varying investment strategies. Because of this, the firm recommends that clients ask their specific advisor how they analyze investment opportunities, what investing strategies they use and what the level of risk involved is.
In general, however, Advisor Resource Councilâ€™s investment strategies include long- and short-term purchases, margin transactions and option writing. Investment recommendations typically include mutual funds, ETFs, stocks, bonds, options, fee-based variable annuities, unit investment trusts, structured products and limited partnerships.
Advisor Resource Council does not report any disciplinary history. For reference, the SEC requires all registered investment advisors to report any disclosures â€” including any civil, criminal or regulatory actions against the firm, its employees or its affiliates in the last 10 years â€” on their Form ADV paperwork. You can get more information on the firm by visiting Advisor Resource Councilâ€™s IAPD page.
True North Advisors was founded in 2000 by Scott Wood, the firmâ€™s current CEO, and Mark Gehlbach, who serves as president. In addition to its headquarters in Dallas, True North Advisors has a location in Fort Worth, Texas.
The firm offers financial planning, investment management consulting and portfolio management. It serves individuals who are and are not considered high net worth individuals (meaning they have at least $750,000 under management or a net worth of at least $1.5 million), though it generally prefers portfolios of at least $2 million. Additionally, True North Advisors works with pension and profit-sharing plans, trusts, estates, charitable organizations and businesses.
True North Advisors believes in value-oriented investment strategies, such as those championed by influential investors like Warren Buffet and Benjamin Graham. This involves choosing investments that are less expensive than other similar investments and seem to be trading for less than their value with the hope that their price will increase in the future.
The firm focuses on diversification and generally divides client assets among cash, equities, fixed income and alternative investments. While True North relies mostly on active management, it also includes passive investments in portfolios when they make sense. The firmâ€™s investment policy committee, which is made up of five voting members, makes decisions regarding asset allocation and the selection of managers.
True North Advisors reports no disciplinary history. This includes any civil, criminal or regulatory events involving either the firm or its employees or affiliates. For more information, visit True North Advisorsâ€™s IAPD page.
There is no state income tax in Texas. There is also no state inheritance tax or estate tax. Residents of Texas are, however, subject to federal inheritance and estate taxes, and they may have to pay inheritance tax if they inherit from someone who lives in a state that does have an inheritance tax.
While most financial advisors can provide at least some assistance with retirement planning, if thatâ€™s your primary goal, then you want to make sure you choose a financial advisor who has deep experience in the area, as not all financial advisors specialize in this. Make sure to ask the advisor about their background, certifications and other key questions to ensure you select someone who can best help you meet your financial goals both now and in the future.
Beyond asking an advisor directly how they are compensated, you can also look up a firmâ€™s Form ADV to learn more about their fee structure, which you can find by searching on the IAPD database. A search tool like those offered by NAPFA or Garrett Planning Network can also guide you directly to fee-only financial advisors.
In general, to make sure an advisor will put your best interest first, youâ€™ll want to find a fee-only financial advisor rather than a fee-based advisor. Fee-only advisors receive payments solely from their clients. Fee-based advisors, on the other hand, may receive payment from other sources, such as commissions on products they sell to clients, which can create a conflict of interest.
Fiduciary financial advisors in Dallas and throughout the United States are legally and ethically bound to put their clientsâ€™ best interest first. Advisors who arenâ€™t fiduciaries follow a suitability standard, which means they must make recommendations that are â€śsuitableâ€ť for you but theyâ€™re also allowed to make a profit for themselves that may be at their clientsâ€™ expense. Choosing a fiduciary financial advisor means you know that your advisor is working with your best interest in mind.