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Updated on Wednesday, December 30, 2020
If youâre 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 advisorâs 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 âShow-Meâ 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 firmâs size, and client-to-advisor ratio, which indicates how much attention you may get as a client.
While our ranking wonât 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:
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, weâve 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/.
Moneta Group Investment Advisors, LLC bills itself as a âfamily CFOâ for many of its clients, who include individuals, both those who do and donât 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 Advisorsâ 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 clientâs objectives, including their performance expectations and risk tolerance.
Moneta Groupâs 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 firmâs investment choices move between three different lists â recommended, watch and sell â and fund managers evaluate individual portfolios based on these lists. For example, if an investment lands on the sell list and it âs 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 arenât on the sell list at that point, but are being evaluated with more caution.
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 Advisorsâ IAPD page.
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 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 â 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 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 firmâs IAPD page.
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 firmâs 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 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 clientâs situation.
Buckingham Strategic Wealth takes an evidence-based approach to investing â this means it doesnât 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 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 firmâs IAPD page.
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 â a bank holding and financial company of which Prairie Capital is a subsidiary â acquired a firm which previously named Prairie Capital Management. All of the firmâs 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 doesnât 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. Clientsâ tolerance for risk is also factored into their portfolio makeup.
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 firmâs IAPD page.
Plancorpâs 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 firmâs 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 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 doesnât 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 fundâs operating expenses, portfolio turnover, investment objective and other criteria. Plancorpâs investment committee meets quarterly and reviews and rebalances portfolio positions as necessary.
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 clientâs evaluation on their Form ADV paperwork filed with the SEC. You can get further information on Plancorp by visiting its IAPD page.
Pension Consultants, Inc. was founded in 1994 by Brian Allen, who now serves as the firmâs 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 firmâs headquarters are in Springfield, but it has an additional Missouri office in Joplin, where one employee is based.
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 â whether the chosen investments are performing well, the fees being paid arenât 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 firmâs investment advice is guided by the following four primary methods of analysis:
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 firmâs IAPD page.
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 Advisorsâ 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 firmâs 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 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 firmâs IAPD page.
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 relies heavily on modern portfolio theory â which calls for maximizing returns while minimizing risk â 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 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 firmâs IAPD page.
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 firmâs president and CEO is the trustee) and three other employees.
HM Capital Managementâs only office is in Clayton, Mo.
HM Capital Management takes a goal-based approach to portfolio management, meaning it uses the information it gathers about each clientâs objectives to build and manage their portfolio. The firm may use both internal and external investment managers to handle client accounts, depending on the clientâs 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 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 Managementâs IAPD page.
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 doesnât 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 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 Officeâs 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 familyâs objectives and circumstances. The firm typically recommends bonds, stocks, equity, master limited partnerships, real estate and commodities.
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 firmâs IAPD page.
Missouriâs 2020 state income tax rate ranges from 1.50% to 5.40%, plus an additional charge of up to $279 for inflation â the amount you ultimately pay will depend on your taxable income. Missouri doesnât 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 thatâs a priority for you, then youâll 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 youâre 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.