A Southern state with lots of charm and a diverse economy, Arkansas offers plenty to both residents and visitors. However, if you do call Arkansas home, and plan to do so in the years to come, it’s smart to have a financial plan that will make that dream possible. Yet we understand it can be difficult to stay on top of the financial world while also keeping up with work, family, and a social life. A financial advisor can take on the burden for you and make sure you will be able to find future success, but it’s important to find the right one.
Below is our list of the five best financial advisor firms in the state of Arkansas.
1) Lathrop Investment Management Corp.
From Little Rock, Lathrop Investment Management Corp. is our top choice for Arkansas. Managing over $608 million in assets for its clients, the firm is compact yet effective, working mostly with wealthy (high-net-worth) individuals and organizations. If you fall into this category, this firm is a great pick. You can expect the usual retirement, financial planning, and investment services, and no matter what your needs, the firm will take a disciplined approach and pay careful attention to detail.
The firm uses a variety of research sources, both internal and external, to accomplish its primary objective of setting its clients on the right financial path and maximizing long-term wealth.
Lathrop Investment Management Corp. is a fee-only firm with a $5,000 minimum annual fee, but there is no account minimum.
You can expect the following when working with Lathrop Investment Management Corp.:
- High standards from each advisor at the firm regarding ethics, performance, and professionalism.
- A transparent and communicative relationship with your advisor. You will only receive objective advice.
- A great degree of experience working with high-net-worth individuals.
2) Cabana Asset Management
With $608 million in assets under management, Cabana Asset Management is our top choice for Fayetteville. This firm is willing to work with many different types of clients to provide them with comprehensive financial plans as well as well-researched investment portfolios. The firm also offers insurance services and has a dedicated legal services team.
The firm uses a conservative investment strategy aimed at minimizing potential risk and the drawdown of your assets. It is also objective-based, and it will actively manage ETFs and mutual funds, which make up the bulk of clients’ portfolios.
Cabana Asset Management is a fee-based firm that has no set account minimum.
You can expect the following working with Cabana Asset Management:
- Excellent Social Security and Medicare planning services for eventual retirees looking to maximize their retirement income.
- The use of one of a range of portfolio models based on your risk tolerance and priorities.
- A comprehensive, multistep financial planning process.
3) Meridian Investment Advisors
Another great option based in Little Rock is Meridian Investment Advisors, a firm with $533 million in assets under management that has been in operation since 1983. Similar to Lathrop in many ways, the firm stands out via its excellent retirement planning services and its focus on providing investment planning services for a range of individuals and organizations.
The advice and investment strategy your advisor will offer to you will depend heavily on your tolerance for risk, as well as your long- and short-term goals or priorities. As a result, your input will be paramount.
Meridian Investment Advisors is a fee-only firm with a $500,000 asset minimum.
You can expect the following while working with Meridian Investment Advisors:
- Online tools to help you better understand and manage your portfolio.
- Clear and transparent communication from your advisor, with a focus on educating you on important financial topics.
- Plans based on communication and stated goals. Strategies will adapt as your needs and circumstances change.
4) Mustard Seed Wealth Management
Based in Magnolia and with $226 million in assets under management, Mustard Seed Wealth Management was founded in 2006 and works with a network of professionals to protect your wealth from legal threats, over-taxation, and poor planning. In fact, the firm focuses heavily on providing tax planning services and insurance recommendations for its clients, even though it receives no compensation from product providers.
Mustard Seed Wealth Management will primarily try to protect your wealth when investing and providing advice. It prefers diversified portfolios and pays close attention to tax management.
Mustard Seed Wealth Management is a fee-only firm, but to open an account, you need to make a minimum investment of $500,000.
You can expect the following working with Mustard Seed Wealth Management:
- Services to help you maximize your charitable giving and make the most of your generosity.
- Excellent tax management services and a focus on the tax burden of any financial decision.
- Regular review of your portfolio and general strategies to make sure they are in alignment with you and your family’s current goals.
5) Ifrah Financial Services, Inc.
Another Little Rock firm, Ifrah Financial Services, Inc., with $319 million in assets under management, boasts a sizable staff of well-qualified advisors. Working primarily with non-high-net-worth individuals, this firm is an excellent choice for the average or slightly-wealthier-than-average family looking to make the right decisions for the future, especially when it comes to retirement.
The firm’s investing approach is mixed, heavily passive, and, at times, conservative. But your advisor will be constantly searching for worthwhile opportunities to grow your wealth more dynamically. Furthermore, depending on your goals, your advisor will always leave one portion of your portfolio active so to maximize returns.
Ifrah Financial Services is a fee-only firm that has no set account minimum.
You can expect the following working with Ifrah Financial Services:
- A comprehensive onboarding and fact-finding process to ensure you receive the best advice for you and your family’s situation.
- A mixed approach to investing not always seen from advisory firms.
- Regular readjustment of your portfolio to minimize losses and mitigate risk.
Of course, there are more financial advisory firms in Arkansas than the five on this list. However, these choices have been carefully selected because of their track record of success and commitment to their clients. But we encourage you to review our article on the best firm for your city if you want a better overview of the local market. Yet no matter which firm you choose, we’re certain that if you put in the research and carefully consider your needs and long-term goals, you will find an excellent partner for the future.