Wealth Management Austin
Do you have concerns about how to manage your wealth as a resident of Austin? If yes, then you are not alone.
As a high net worth or ultra-high net worth individual with an investment portfolio of $10 million, you’ll probably have questions about your finances, such as how to diversify your investment portfolio or protect your portfolio during times of market volatility.
Thankfully, you can get tips from a $10+ million portfolio free guide from Pillar Wealth Management LLC here. You might also have multiple financial goals that might range from buying your second or third income property in Austin, investing in your retirement, or even taking a luxury vacation on a new yacht.
STRATEGIES FOR FAMILIES WORTH $5 MILLION TO $500 MILLION
7 Secrets To High Net Worth Investment Management, Estate, Tax and Financial Planning
The insights you’ll discover from our published book will help you integrate a variety of wealth management tools with financial planning, providing guidance for your future security alongside complex financial strategies, so your human and financial capital will both flourish.
Clients frequently share with us how the knowledge gained from this book helped provide them tremendous clarity, shattering industry-pitched ideologies, while offering insight and direction in making such important financial decisions.
How do you achieve proper wealth management in Austin, and how do you achieve those goals while ensuring that you protect and even increase your wealth? Well, that is where a wealth manager comes in.
In case you don’t know who a wealth manager is, this article will explain what they are and what they do, examine why you need a financial advisor austion, and find the perfect one for your financial needs. The article was prepared by Pillar Wealth Management LLC, a wealth management firm that caters to high and ultra-high net worth individuals who own assets between $5 million and $500 million. Suppose you want to know how to manage your considerable investment portfolio – you can schedule a free, no-obligation consultation call with Chris Snyder and Hutch Ashoo, the founders of Pillar Wealth Management LLC.
Table of Contents
Finding a Top Financial Advisor in Austin, Texas
According to smartasset.com, the following firms are the top financial advisors in Austin, Texas. The firms selected are companies that offer financial planning services, have the largest volumes of assets under management, work primarily with individuals, have fewer clients per advisor, and have been in business longer. Fee-only firms ranked higher.
The Top Financial Advisors in Austin
1. TCG Advisory Services
TCG Advisory Services specializes in investment advisory and planning services for retail, institutional, and school district clients. The firm was established in 2002, registered with the SEC in 2020 as an investment adviser, and purchased by HUB International in 2021. TCG has $5.8 billion in assets under management.
The firm provides investment advisory services to individuals, with portfolios including cash, equity, and fixed income allocations—including stocks, ETFs, and mutual funds—dependent on the client’s objectives and risk tolerance. For corporate pension and profit-sharing plans and governments, services include advising on investment policy and issues unique to institutional accounts.
Advisors may use a third-party asset manager to allocate certain investments for clients. Clients also have access to Schwab’s robo-advisor platforms and Schwab Intelligent Portfolios.
Asset management fees for individuals range from 1.50% for assets up to $99,999.99 to .050% for assets over $10,000,000. Municipal entities are entitled to participate in the MAPP program, where TCG Advisors receive a management fee of 0.1% of assets under $50 million to 0.05% for assets over $150 million. Retirement and financial planning fees may be an hourly rate, a flat fee, or a percentage of the assets under management.
MAPP accounts are reviewed and evaluated quarterly and may be rebalanced back to a guideline weighting if the weighting varies by 5% or more from the guidelines. Technical and cyclical analysis, using charts and fundamentals, are used.
2. Venturi Private Wealth
Venturi Private Wealth offers advisory services to clients based on their holistic financial situation, implementing an investment plan to achieve the client’s financial goals. Venturi is a privately owned firm, owned by Russell Norwood and George Clark since 2015. The firm holds $1.9 billion in regulatory assets under management. Two clients and several employees are minority stakeholders.
Venturi offers services to individuals, families, pension plans, charitable organizations, and pooled investment vehicles. Client assets are allocated among various mutual funds, ETFs, individual securities, and independent investment managers. Certain eligible clients may invest in privately placed securities, which may include debt, equity, or pooled investment vehicles such as limited partnerships.
The firm advises on life insurance and annuity contracts, retirement plans, and tuition plans.
Venturi offers investment and wealth management services for an annual fee based on the amount of assets under management, ranging from 1.00% for up to $2.5 million to 0.35% for over $200 million. Venturi charges a fixed or hourly fee for stand-alone financial services, generally a minimum of $1,000. The minimum portfolio value is $2.5 million.
Venturi utilizes primarily a fundamental method of analysis, which evaluates the financial and competitive position of the fund or issuer, including its management team, past performance, and reputation, among other factors.
3. Durbin Bennett Private Wealth Management
Durbin Bennett (DB) has been in operation in Texas since 2001. It has six equity shareholders, including Richard Bennett. It manages $1.38 billion of clients’ assets.
DB provides investment advice to individuals based on their needs. Clients include high-net-worth individuals, trusts, estates, foundations, and endowments. Portfolios include equities, fixed income securities, mutual funds, ETFs, separate accounts, and private funds including hedge funds, private equity investments, and limited partnerships. DB portfolio management includes the preparation of an investment policy statement, selection of investments, and monitoring.
DB believes that although markets are efficient over the long term, they can be irrational over the short term. Therefore, DB’s portfolios have a more passive central focus with auxiliary more active elements, with rebalancing as a key to long-term performance. DB’s investment philosophy is continually reviewed by its investment committee.
Individual portfolio management requires a minimum of $1 million in assets under management, with an investment fee of 1.00% for the first $1 million. The fee reduces to 0.20% for assets over $25 million. An additional small percentage is charged for monitoring and reporting and access to the investment team.
DB advises pension and profit-sharing plans, charities, corporations, other advisers, and pooled investment vehicles, in addition to individuals.
4. Austin Asset
Austin Asset began operating in Texas in 1986. Its principal shareholders, each controlling 25% or more of the company, are Willian Hehman and Gregory Van Wyk, CEO and Vice President, respectively. The firm offers wealth management, wealth planning, and consulting services. It has $1.26 billion in assets under management.
Investment portfolios are managed based on client needs, such as capital appreciation, growth, or income, as well as tax considerations. Investment recommendations include listed securities, corporate debt securities, variable life insurance and annuities, mutual funds, US government securities, and options.
Wealth planning addresses personal finances, cash flow, taxes, insurance, estate planning, retirement, and disability income.
Wealth management fees include a $5,000 flat fee plus 0.65% of assets up to $7.5 million, graduated to 0.25% for assets valued at over $25 million.
Austin Asset considers that diversification spreads risk and that risk and return are related and determined by asset allocation. Moreover, it is more advantageous to take risks in equities than in fixed income.
5. 49 Wealth Management
49 WM has been registered with the SEC since October 2022 and is owned by Hunter Lloyd, Kyle Sims, and 49 Holdings, LLC. It has $230 million in assets under management.
49 WM offers financial planning and consulting services, investment and wealth management, and retirement plan consulting to individuals, trusts, estates, corporations, and other business entities.
49 WM allocates assets among mutual funds, ETFs, structured notes, annuities, currencies, alternative investments, and independent investment managers. The firm supervises the performance of the accounts managed by independent managers, on an ongoing basis.
49 WM charges a negotiable fixed fee for financial planning and consulting services, ranging from $500 to $75,000 depending on the scope of the services. Investment management services are offered for an annual fee based on the value of the assets under the firm’s management, varying between 0.50% and 1.50%.
49 WM utilizes a combination of fundamental, cyclical, and behavioral investment analysis methods and an asset allocation strategy based on modern portfolio theory.
6. Austin Private Wealth
Austin Private Wealth is a limited liability company operating in Texas since 2010 and has been a registered investment adviser since July 2019. The firm is owned by Dan Kraus, Raoul Celerier, Alex Wagner Kieu Le, Kevin Weaver, and Joshua Dvorak. The firm manages over $800 million in assets.
Austin Private Wealth offers financial advisory services to individuals, trusts, estates, pension and profit-sharing plans, and businesses and corporations. Its portfolios consist of stocks, bonds, ETFs, mutual funds, and other public or private securities or investments. Investment strategies are tailored to the clients’ needs and circumstances. The firm may use, when suitable, the sub-advisory services of a third-party advisory firm or individual advisor. The firm may recommend certain annuities and insurance products through DPL Financial Partners.
The firm offers asset management, financial planning and consulting, and retirement plan consulting, in addition to referrals to third-party money managers. The maximum annual fee for asset management will not exceed 1.30%. Fees for sub-advisory services will not exceed 1.20%. A flat fee is charged for financial planning and consulting, not to exceed $100,000.
The firm utilizes cyclical, fundamental, and qualitative analysis for investment advice and managing assets. It employs duration constraints for benchmarks, and portfolios are rebalanced periodically to their duration targets.
7. FMP Wealth Advisers
FMP Wealth Advisers is a fee-only financial advisor founded in 1987. Its principal owners are members of the Hixxon family. The firm manages over $800 million in assets.
FMP Wealth Advisers provides personalized financial planning and investment management to individuals, pension and profit-sharing plans, trusts, estates, charitable organizations, and small businesses. The initial meeting between the firm and a client is free of charge. FMP provides advice on investments, taxation, financial planning, and trusts and estates.
FMP is an investment manager for various private funds. It uses model portfolios and separately managed accounts. Accounts managed according to a dynamic asset allocation seek to make gains in rising markets and preserve principal during declining markets. Accounts managed according to a fully invested allocation (invested in a mix of equity and fixed income) include the sale of securities, which are subject to taxes.
Fees for investment management are a combination of a flat fee (up to $2,500) and a percentage of assets under management, ranging from 1.0% to 0.15%, depending on asset mix, type of account, and level of advisor review responsibility.
Investment analysis methods utilized by FMP include charting, fundamental analysis, technical analysis, and cyclical analysis. Other sources that may be used include filings with the Securities and Exchange Commission, company press releases, Ned Davis Research, Morningstar Research, and Charles Schwab SchwabLink service.
8. Meridian Wealth Advisors
Meridian Wealth Advisors (MWA) has been providing financial advisory services in Texas since 2016. The firm is owned by Joshua Galatzan, Kerwin Price, Meagan Moll, and Brian Noonan. MWA has $1 billion in assets under management.
The firm offers wealth management and investment advisory services, which include portfolio management, financial planning and consulting, asset allocation, and pension consulting. Fees for these services are based on the amount of assets under management, the complexity of the services, and any special services required by the client. They range between 0.55% and 1.00%. The minimum account size is $2.5 million with a minimum fee of $12,500.
MWA’s approach to investment focuses on qualitative and quantitative analysis and data from the internet and various research providers. Risk and cost management are emphasized, and potential returns are measured net of costs.
9. Richard P. Slaughter Associates, Inc.
Richard P. Slaughter Associates is a fee-only registered investment adviser operating in Texas since 1991. The principal owner is Brooks Slaughter. The firm offers wealth management specializing in active asset management and all-inclusive financial planning. The firm manages over $700 million in client assets.
The firm provides advice on real estate, insurance, tax and estate planning, and the selection of other advisors. Clients include individuals, pension and profit-sharing plans, trusts, estates, charitable organizations, and corporations and other businesses.
Fees are charged based on the account’s asset value, billed quarterly. Fees range from 1.25% for assets up to $1 million to 0.35% for amounts over $40 million. The minimum household size is $1 million.
The firm advises its clients to be prepared to commit funds to be invested for the long term—at least three to five years. Fundamental and technical analysis are used. Investment strategies include long- or short-term purchases, short sales, margins, and options.
10. Waterloo Capital
Waterloo Capital was acquired by Waterloo Capital Management LLC in 2012, which is owned by John Chatmas. Waterloo Capital offers its services through a network of IARs (investment advisor representatives) supervised by Waterloo Capital, including AMG Wealth Advisors, Strategic Capital, and Eberly Wealth Management, LLC. The firm holds $730 million in assets.
Waterloo Capital offers direct investment services as well as access to third-party money managers. The firm offers comprehensive asset management and financial planning, as well as consulting services and client-tailored services.
Investment management fees are based on the market value of the client’s assets, and the maximum fee is 2.0%. Assets valued over $2 million may be charged lower fees. Hourly services are charged a maximum of $500, and flat fees do not exceed $250,000.
The firm generally requires a minimum of $1 million in a portfolio. Clients include individuals, retirement accounts, trusts, estates, charitable organizations, and corporations and other businesses.
Waterloo uses fundamental analysis to select investments, evaluating each security’s issuer based on its financial condition and quality of management. It may utilize independent third parties to assist in making recommendations. Qualitative and quantitative criteria are also used.
Understanding Wealth Management
What is wealth management? And what does it entail?
Simply put, wealth management is a service that helps you manage your wealth properly. Wealth management falls under professional financial services and is usually used by high net worth or ultra-high net worth individuals, who have between $5 million and $500 million in liquid assets. The process of wealth management involves you working with various financial professionals to ensure that your financial goals are archived. If you want to speak with experts at managing wealth, you can schedule a free conversation with the co-founders of Pillar Wealth Management LLC, Hutch Ashoo, and Chris Snyder.
There are several options available to you when it comes to wealth management. Let’s take a look at some of them.
Managing your Wealth Personally
The first and most obvious method of financial management is to manage your finances and investments personally. While this is the cheapest course of action, it is also the most challenging and opens yourself up to the most mistakes, either by opportunity cost or otherwise. When you manage your wealth and investments by yourself, you won’t have to pay any advisory fees to a professional financial service provider.
However, managing your wealth personally comes with a major disadvantage. When managing a large investment account such as that of a high net worth or ultra-high net worth individual, you will need to be knowledgeable and skilled in a wide range of financial fields. To manage an investment portfolio of $10 million or more, you need to be skilled in tax planning, estate planning, insurance, investments, and many others. Gaining sufficient mastery of this field to manage your resources requires a lot of time and effort, which, unfortunately, most people do not have. If you want to build generational wealth, you likely need some help along the way.
This is why working with a financial professional, such as a wealth manager, is an excellent idea. A skilled wealth manager has training and expertise in all the fields mentioned above, which means that you can expect professional advice on various areas of your financial life when you work with them. If you would like to know more about choosing a financial advisor, the team at Pillar Wealth LLC has created an indispensable guide as a resource. Get your copy of TheUltimate Guide to Choosing the Best Financial Advisor: For Investors with $5 Million to$500 Million in Liquid Assets. It will explain the steps and considerations behind selecting the right financial adviser.
Financial Planners – Wealth Management Austin
If you want to work with a professional financial service provider, the first and easiest choice is to use a financial advisor austin. A financial planner’s major duty is to work with you to develop a holistic financial plan to achieve your investment goals. As with all things, a plan is vital for success. And this is where a financial planner comes in. Your Austin financial planner will consider all your investment goals and build a comprehensive financial and investment plan. This plan will guide how you save, invest, and spend for a predetermined period. The process of achieving your investment goals will include several steps such as figuring out the bestinvestments that will help you reach your goals, managing your tax liability, and usinginsurance products so as to secure your financial future. A financial planner will take into consideration all your financial goals while building an investment plan that willhelp follow it.
While having a financial plan is a good first step, you’ll face several wealth management issues if you choose to work with a company that offers only financial planning services. First, financial planners are more likely to give general financial advice. They might not know about specific investments and securities that you may need as a high net worth individual.
Secondly, most financial planners cannot help you implement your plan by purchasing the investments that your financial plan dictates. Instead, you will have to work together with a stockbroker or another financial professional to purchase the stocks, bonds, and other securities outlined in your plan. If you want to improve your portfolio performance, then get a copy of our guide, 5 Critical Shifts For Maximizing Portfolio Growth Strategies For Families Worth $5 million to $500 million. This guide will show you the shifts that your investment portfolio must go through to grow.
Investment Brokers
Stock or investment brokers are another type of financial professional that can help with wealth management in Austin. Stockbrokers are financial professionals that help their clients manage their investment portfolios. They’re knowledgeable about the investments that will help achieve your investment goals, both in the short and long-term.
At the minimum, you’ll need a financial planner and an investment broker to achieve your financial goals. This combination can help you build your financial plan and work towards creating an investment portfolio that will follow that plan’s guidelines. If you want more information about how to protect your wealth and investment portfolio, you can order for your copy of our hardcover book, The Art of Protecting Ultra-High Net Worth Portfolios and Estates: Strategies for Families Worth$25 Million to $500 Million. Put together by the team Pillar Wealth Management LLC; it will provide you with strategies for protecting and growing your wealth.
Wealth Managers
The final option for managing your wealth in Austin is a wealth manager. Wealth advisors are professionals that specialize in managing wealth for high net worth
and ultra-high net worth individuals. A good wealth advisor will perform the services of both a financial planner and an investment broker, and provide even more financial services asapplicable.
If you want to know more about the duties that a wealth advisor in Austin performs and how it applies to you, you can schedule a no-obligation, free consultation call with the co-founders of Pillar Wealth Management LLC, Chris Snyder, and Hutch Ashoo.
Trusted Wealth Management Services
When choosing a financial service provider, you should pay attention to how they are paid. Some professionals charge a flat fee per hour to provide you with financial advice and develop strategies to help you achieve your investment goals. Other professionals, such as investment brokers, are paid via commission. This means that they get paid every time they buy or sell investment assets on your behalf. Of course, the amount of commission charged on each investment asset differs from the other. If the professional providing financial advice is paid on commission, conflict of interest might arise. For example, a stockbroker can suggest an asset to you for purchase, not because it is the best in that asset class, but because it yields a higher commission for them.
Unfortunately, if the asset that was suggested moves your portfolio inthe direction of your goal, it is perfectly legaleven if your assets could have been better managed. This is what happens when your financial advisor is not bound by fiduciary duty towards you.
Fiduciary duty means that your financial advisor is bound by law to always act in your best interests, instead of his own. For a business owner to create a wealth management firm company, they must be a Registered Investment adviser (RIA). This designation is only given after the company owners have passed a financial management exam. They then register with the state that their firm will operate in or the U.S. SEC, depending on the size of the investment portfolio they are managing for their clients.If you have an investment portfolio of $10 million and above, Pillar Wealth Management LLC has a free guide here.
Austin Wealth and Estate Planning
Now that you have the options available for managing your wealth, what are the advantages of working with a wealth manager in Austin?
It is Easier
Hiring a wealth manager makes the job of managing and increasing your wealth that much easier. Managing your wealth effectively would require skill in many fields such as insurance, tax planning, estate planning, investments, and others. Obviously it is easier to hire a skilled professional in all these fields, rather than managing portfolio by yourself.
It is safer
When it comes to managing your wealth, the help of a wealth manager is indispensable. You may need to know and abide by many rules and laws as a high-net-worth or ultra-high-net-worth individual with $5 million to $500 million in liquid assets. If you do not know these laws, and break them, you can get into legal trouble that can adversely affect your portfolio. Therefore, you may need a wealth manager in Austin to keep your investments above board. Financial professionals, especially wealth advisors, have the training and experience to protect your wealth and stay on the right side of the law.
For example, if you are not knowledgeable about tax and estate planning, you might file your taxes incorrectly, and become guilty of tax evasion unknowingly. If you employed the services of a good financial advisor, chances are you will not be in that situation.
Austin Independent Wealth Management Firm
By now, you should be convinced that you need the services of professional financial services in Austin. As a high net worth and ultra-high net worth individual, you must realize that you need more than an average financial advisor or investment broker. This is because affluent clients have different financial needs from other middle-class individuals. Unfortunately, most financial planners and investment brokers are experienced at managing middle working-class individuals’ investment portfolios. They cannot adequately understand the challenges that are unique to the top 1% affluent people, and if you want your wealth to last for several generations, you need proper planning.
As a high net worth or ultra-high net worth individual, you need to select a wealth manager with experience in managing the portfolios of affluent clients and you can comfortably work with. Pillar Wealth Management LLC is a wealth management firm with over 30 years of experience managing high net worth individuals’ investment portfolios. If you would like to protect your wealth and improve your investment portfolio, you can schedule a free conversation with the co-founders of Pillar Wealth Management LLC, Chris Snyder, and Hutch Ashoo.
To be 100% transparent, we published this page to help filter through the mass influx of prospects, who come to us through our website and referrals, to gain only a handful of the right types of new clients who wish to engage us.
We enjoy working with high net worth and ultra-high net worth investors and families who want what we call financial serenity – the feeling that comes when you know your finances and the lifestyle you desire have been secured for life, and that you don’t have to do any of the work to manage and maintain it because you hired a trusted advisor to take care of everything.
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