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Financial Advisor Kansas City: Why You Need One

For ultra-high net worth individuals, wealth management isn’t as simple as putting half of their wealth in savings and the other half in investments, waiting for their assets to grow. Rather, it requires a comprehensive financial plan, the right investment strategies, smart asset allocation, tax optimization, and a lot more. Furthermore, all this is only possible when they have the right professional help in the form of a financial advisor Kansas City. Such financial advisors have the knowledge and experience necessary to help affluent individuals meet their financial goals. If you are an investor worth $10 million or more and want to grow your wealth with the help of the right financial advisor, we suggest reading our exclusive guide for it.

7 Secrets minified

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.

Pillar Wealth Management has an experienced team of wealth managers and advisors who have been working in this industry for more than three decades. We exclusively cater to high net worth individuals and ultra-high net worth families only because we understand that such individuals have entirely different needs than ordinary people. We offer distinctive and personalized financial services based on extensive research and our in-depth knowledge of the market. Schedule a conversation with us to discuss your financial needs.

In this blog, we’ll be discussing why you should hire a financial advisor Kansas City, how they charge clients, how to tell if they’re doing a good job, and how to choose the best one for yourself. Let’s start.

Finding a Top Financial Advisor Firm in Kansas City

According to smartasset.com, the following firms are the top financial advisors in Kansas City, MO. These firms are registered with the SEC, offer financial planning services, have the largest volumes of assets under management, and work primarily with individuals. They have no disclosures, have fewer clients per advisor, and have been in business longer. Fee-only firms ranked higher.      

The Top 4 Financial Advisors in Kansas City

The Top 4 Financial Advisors in Kansas City

1. Nicholson Meyer Capital Management

Jennifer Nicholson is the president and chief compliance officer of Nicholson Meyer Capital Management; Susanne Meyer is the firm’s senior vice president. The firm has been registered with the SEC since 1988. The firm offers financial consulting, investment management, and retirement planning services. Services are tailored to the client’s needs and wishes. The firm manages $218 million in client assets.

Classes of selected investments are not restricted; they are screened based on performance, risk, costs, and the underlying assets of mutual funds. The portfolio allocation mix is aligned with the client’s growth objectives and income needs. Accounts are monitored and adjusted on an ongoing basis.

Annual fees for asset management services range from 1.00% for assets up to $1 million, to 0.25% for assets over $10 million. The annual fee may be negotiated as a flat fixed fee, not to exceed 1.00% of assets. Consulting fees are based on a rate of $190 per hour.

The minimum investment amount and the minimum financial consulting not worth is $400,000. The retirement solutions program requires $1 million.

The firm uses fundamental analysis, cyclical analysis, and charting to select investments.

The firm does not refer clients to a third-party investment advisor.

2. Mader & Shannon Wealth Management

Mader & Shannon Wealth Management (MSWM) has been providing investment advisory services since 2005.    The firm’s principal owners are Bret Guillaume and Kyle Sanders. It has $214 million in assets under management.

MSWM provides asset management, retirement planning, financial planning and consulting services, and expert witness services.

Asset management fees range from 1.00% of total assets up to $1 million, to 0.60% of assets above $2 million. The fee for retirement accounts is 1.00%. Financial planning fees range from $125 to $250 per hour. Expert witness services are provided at $200–$300 per hour plus travel expenses.

MSWM utilizes various methods of analysis to manage client portfolios, including charting, fundamental analysis, and cyclical analysis. The firm generally invests in relatively liquid individual securities trading on the major US exchanges.

3. Sterneck Capital Management

Sterneck Capital Management (SCM) has been in operation since 1989 and is owned by Frank and Robin Sterneck. The firm has $225 million in assets under management.

SCM provides investment management services, executive coaching, financial planning, and retirement planning. SCM provides a tailored service based on the client’s overall financial situation, goals, time horizon, risk tolerance, income needs, and investment experience.

SCM’s annual asset-based management fees range from 0.40% to 1.5% and are negotiable. Some services are provided on a flat-fee basis; financial plans cost between $500 and $3,500. A fee may be charged to review a financial plan. SCM does not receive sales commissions or performance-based fees.

SCM’s clients are individuals, trustees, charitable organizations, and corporations. The minimum portfolio size is $500,000.

SCM utilizes primarily fundamental analysis, believing that sound companies make good investments. Assets are selected using various tools and sources of information, such as industry publications, independent research, and technical analysis.

4. Prairie Capital Management

Prairie Capital Management Group is a subsidiary of Focus Operating, which is a subsidiary of Focus Financial Partners, which itself owns other registered advisers, broker-dealers, and insurance firms. Prairie Capital is managed by a group of six principals, serving as officers.

Prairie Capital prepares financial plans, provides asset consulting services, and manages investment accounts, based on the client’s situation and future expectations. There are no restrictions on the selection of assets for any particular investment account. The firm manages $1.5 billion in assets.

Fees for advisory services are based on a percentage of assets under management, ranging from 2.2% for assets between $500,000 to $1 million, to 1.1% for assets over $10 million. There is a minimum advisor fee of $15,000. All fees are negotiable. Services may be provided for a flat fee, as well.

Prairie Capital’s clients include individuals, pension and profit-sharing plans, trusts, estates, charitable organizations, and corporations and other businesses.

Clients also include multimanager, multi-strategy private investment company partnerships. For these accounts, investment analysis includes quarterly analysis of actual performance returns of investment management firms, as well as direct contact with the firms, reading their materials, and studying their Forms ADV or other brochures. An additional source of analysis involves meetings with the individual principals and portfolio managers of these firms. Prairie Capital’s investment strategy includes monitoring and changing portfolio managers or increasing or reducing allocations.

Why Hire a High Net Worth Financial Advisor?

The average person might aim to pay off all their debts or max out their 401(k) accounts. In comparison, high net worth individuals have much more significant and complex goals that require a lot of planning.

For instance, you might want to start a charitable organization, travel around the world or invest in multiple businesses. All this is only possible through thorough planning and research, which is best done by a financial advisor.

Here are a few other reasons why you should hire a financial advisor Kansas City.

Financial Advisor Kansas City

Expertise and Experience

Even if you have the skills to manage your wealth on your own, you will lack the experience and expertise that financial advisors have. Not only do they carry various certifications and licenses that equip them with in-depth knowledge, but they also carry a lot of experience after handling portfolios and assets of many clients.

This way, they know all the small tips and tricks and smart strategies to develop the best portfolios for their clients. Reach out to our wealth managers and advisors who hold more than six decades of experience in total in this industry.

Customized Financial Solutions

Financial advisors can provide customized financial solutions, which are crucial for the success of any financial plan. If you go to big financial institutions, they won’t really consider your personal goals and simply offer you a fixed investment package that has worked for them in the past, carries no risks to them, and most importantly, doesn’t really benefit you. Click here to read our insightful guide on portfolio performance to learn why such performance isn’t that important.

Financial advisors, such as those at Pillar Wealth Management, really take the time to understand your unique financial situation and your short and long-term goals in life. Then, they develop personalized financial solutions that will best help you meet your goals in life. Order a copy of our book, The Art of Protecting Ultra-High Net Worth Portfolios and Estates – Strategies for Families Worth $25 million to $500 million, to discover how customized solutions can help grow and protect your wealth.

Fiduciary Services

This is not the case with all financial advisors, but some financial advisors offer fiduciary financial services. This means that they are obligated to provide you with the best advice, recommendations, and service overall.

They are supposed to put your interests before their own. They don’t have any conflicts of interest with you. Financial advisors who are not fiduciaries don’t offer such benefits to high net worth individuals. Click here to go through our guide on choosing the best advisors and learn the signs of a wrong advisor.

How do Financial Advisors Charge Clients?

Just like all financial advisors are not fiduciaries, all financial advisors don’t charge clients the same way either. There are some advisors who work on commission, while there are some who charge a fixed percentage. There are even those who charge on both bases.

Furthermore, even among advisors who charge a fixed percentage, there are those who charge on an hourly basis and those who charge on an annual basis. Get in touch with our advisors who operate on a 100% fee-only basis.

How Do I Know If My Financial Advisor is Doing a Good Job?

The number one way to tell if your financial advisor is doing a good job is if you feel financial serenity with them. And if you’re wondering, “what do financial planning clients really want?” this is it.

When they are doing a good job, they will communicate with you about the progress of your financial plans, they will tell you how close you are to your goals and targets, your costs will be low, they will always be available to answer your queries, they will grow as well as protect your wealth, and much more.

In short, when you don’t have to worry about your financial advisor Kansas City and your wealth, you will know that they’re doing a good job. If you want that kind of financial serenity and success, read about the shifts you must make first from our guide on portfolio growth and strategies for high net worth families.

Choosing the Best Financial Advisor Kansas City

However, all these benefits really depend on you finding the best financial advisor. Some of the factors you should consider are their credentials, reputation, standard of care, experience, and services. We recommend reading our exclusive guide on finding the best financial advisors for individuals with $10 million or more in liquid assets for a detailed description.

Pillar Wealth Management is a 100% fee-only wealth management firm. Our fiduciary financial advisors suffer from no conflict of interest, which allows us to dedicate our full efforts to helping our clients achieve their financial goals and attain financial serenity. Schedule a free meeting with our advisors to get started on your wealth management.

Authors

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.

More from authors.

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