Austin is a unique city in Texas with a unique feel, but it is also a city experiencing huge growth. This can make is a great place to live for people looking to expand or retain their wealth who want a pulse on the city, or simply for people looking to enjoy the area. Whatever the reason, you should make sure to have a dedicated financial advisor working with you to maximize you and your family’s portfolio.
Since it can be tough to comb through all the options, we did that for you. Here are our top five choices for financial advising firms for Austin, Texas:
1) TCG Advisors, LP
The largest firm out of our selections with $1.76 billion in assets under management, TCG Advisors, LP is a great firm for those looking for primarily for investment advice and guidance, although they do also offer financial planning and advising services. Founded in 2001, the firm hosts a staff that includes retirement specialists, investment planners, and a financial planner.
They are massive when considering the number of clients they serve, according to them handling 350,000 clients. You can also expect them to be accountable, trustworthy, respectful of your time, and generally everything you would expect of a top financial services provider.
TCG Advisors, LP is a fee-only firm that requires either $50,000 or $100,000 in investible assets depending on the account you open.
You can expect the following working with TCG Advisors, LP:
- A model-based strategy, which means that they place close attention to the selections and general plans they use for their clients.
- Fine-tuned planning to ensure your main financial plans both fits your needs and can adapt to inevitable life changes.
- A focus on financial diversification, minimizing the risk to your wealth over the long term.
2) Durbin Bennett Private Wealth Management, LLC
Durbin Bennett Private Wealth Management, LLC is an Austin-local firm with $1.04 billion in assets under management that won several accolades in 2015 for its service. Hosting a full staff of certified planners and advisors, you will be working with an expert that will put in every effort to expand your holdings and preserve your wealth.
They also will be able to help you with your taxes remarkably well, especially minimizing tax losses. They have a long-term approach to wealth management.
Durbin Bennett Private Wealth Management, LLC is a fee-only firm that requires $1 million in investible assets for them to take you on as a client.
You can expect the following working with Durbin Bennett Private Wealth Management, LLC:
- A more conservative and passive approach than most other firms, making it a great choice for cautious or hesitant investors.
- A strong focus on retirement planning and ensuring generational wealth.
- You will have great say as to where you want to place your assets.
3) Austin Asset
A more personally focused firm that has about $850 million in assets under its management, Austin Asset was the number one financial planning firm according to the Austin Business Journal for 2016-2017, and by reviewing their approach it’s easy to see why. They currently have about 18 staff members and have been serving clients well since 1987.
They take a long-term, holistic approach to wealth management and financial planning, constantly keeping you in the loop and making sure you receive their honest recommendations.
Austin Asset is a fee-only firm that requires $1 million in investible assets.
You can expect the following working with Austin Asset:
- A personalized approach where you will meet with advisors enough to determine an exact plan for your wealth.
- A transparent relationship based on clear and candid communication, not what might be convenient to say in the moment.
- A holistic approach to your wealth, ensuring greater balance and growth in the long run.
4) Richard P Slaughter Associates, Inc.
Richard P Slaughter Associates, Inc. is a great option if you find yourself newly wealthy in the Austin area as a result of good fortune or sudden business success. They know just how to preserve and maximize that wealth and carefully guide you through the process. Founded in 1991, they have close to $500 million in assets under management.
They use a general process which ensures that you have determined goals and then works to accomplish these objectives, whether for yourself or your family.
Richard P Slaughter Associates, Inc. is a fee-only firm that requires $10 million in investible assets.
You can expect the following working with Richard P Slaughter Associates, Inc.:
- In-depth information and advice to help you understand your own wealth and prospects better.
- Expertise in working with the suddenly wealthy and those who have found business success.
- Ongoing advice and information after the initial setup period to ensure success in changing markets.
5) Beck Capital Management
The smallest firm on this list with about $300 million in assets under management, Beck Capital Management might not have some of the resources or acclaim as other firms on this list, and are not as specialized in financial planning specifically, but they are often more accessible and a great choice for potential investors.
Beck Capital Management prefers to take a big-picture approach of the market and then perform research to stay on top of the current trends.
Beck Capital Management is a fee-based firm that has no stated account minimum.
You can expect the following working with Beck Capital Management:
- Custom-built portfolios and active management of them.
- You can take as hands-on or hands-off of an approach as you like when working with them.
- A relatively risk-adverse approach to investing your wealth.
Our top choice might not be your top choice, and that’s ok. We understand that every individual and family in Austin is at a different stage in their financial life and will have different needs. We are nearly certain, however, is that one of the above choices will be a great choice for you and your family. We wish you the best of luck on your financial journey and hope you find the perfect fit soon.