Baton Rouge is an amazing Louisiana city that doesn’t get enough credit, but that doesn’t stop it from being an amazing place to build a business, make a home, or just enjoy the life and culture that can be found there. Yet while you enjoy the success you’ve found in the city, you also need to deal with the management your wealth requires if you want to get the most out of it. Fortunately, this can be much easier if you employ the services of a financial advisor or investment manager, many of which work in Baton Rouge.
Yet which one will be the most helpful for your particular financial situation and set of goals? Here are our top five choices for financial advisory firms for Baton Rouge, Louisiana:
1) Goss Advisors
Our top choice is Goss Advisors, a Baton Rouge firm that has $2.53 billion in assets under management and over 90 advisors ready and waiting to help potential clients just like you. A highly acclaimed firm, it was founded in just 2012 and has a list of services that’s far too long to list here. Rest assured: if it’s a common problem, they can address it.
The firm will base portfolios on the client’s wants and needs, and they use several different types of analysis to evaluate potential investments.
Goss Advisors is a fee-based has different minimum investment requirements based on the type of account you would like to open with them.
You can expect the following working with Goss Advisors:
- An emphasis on the importance of independence and the objectivity that brings.
- Several different programs to choose from, depending on your needs and how much attention you want.
- They will put great care into building and maintaining the client-advisor relationship.
2) Shobe & Associates, Inc.
Our second Baton Rouge firm, Shobe & Associates, Inc., a firm with $258 million in assets under management. They have been in operation 1983 and have nine well-qualified advisors working for them (and an excellent support staff). We recommend this firm as an excellent choice for non-high net worth individuals due to their accessibility.
They recommend a diversified portfolio for their clients and will work with you to find the right balance. They will also regularly monitor your portfolio and financial situation so you can achieve greater financial security and peace of mind.
Shobe & Associates, Inc. is a fee-based firm that has a $50,000 minimum investment requirement.
You can expect the following working with Shobe & Associates:
- They will strictly hold themselves to the fiduciary standard.
- Services offered include comprehensive planning, retirement planning, investment planning, and business planning.
- A team that is proactive regarding your goals and your financial future.
3) Dent Asset Management
Dent Asset Management is a Baton Rouge firm that is a bit smaller, with $212 million in assets under management and only three advisors. They mostly work with non-high net worth individuals and mainly provide portfolio management and financial planning services, although they are happy to help with more specific questions and concerns.
Instead of trying to pick out securities individually, the firm focuses instead on proper asset allocation and will use mutual funds to help preserve client wealth.
Dent Asset Management is a fee-only firm that does not have any minimum asset requirements, but you should check their fees to see if they are acceptable for your net worth and financial situation. They do generally have a $5000 minimum annual fee for clients.
You can expect the following working with Dent Asset Management:
- An emphasis on not only portfolio management but client behavior as part of the financial planning and advisory process.
- A strong willingness to talk to you to determine if you’ll be a good match for them.
- A highly qualified team, of which each of the members can bring different and interesting ideas to the table.
4) Evans Investment Advisors
Evans Investment Advisors is our last choice that’s based in Baton Rouge, and the firm has $146 million in assets under management. A somewhat smaller firm with only a few advisors that was founded in 2008, their advisors are still highly qualified and they are one of the more accessible options in the city.
They mostly utilize ETFs for their clients, focusing on a diverse portfolio and staying away from the use of active investment managers. They’re generally best for long-term investors.
Evans Investment Advisors is a fee-based firm that does not have a minimum asset requirement, but we do recommend to see if their fees would be affordable for your current financial situation.
You can expect the following working with Evans Investment Advisors:
- A well-established process that makes sure your concerns are always heard and that no bit of information is overlooked.
- A willingness to provide online resources and tools for clients.
- They want you to not only have an excellent portfolio but an excellent financial plan.
5) Waters, Parkerson, & Co., LLC
Waters, Parkerson, & Co., LLC is our last choice for Baton Rouge, and the firm is actually based in New Orleans (and is our top choice from the city). If you don’t mind traveling, the firm, which has $1.53 billion in assets under management, can be a great option. They mostly work with high net worth individuals and organizations and have an exceptional staff.
They’re more conservative than most firms when investing, and will carefully diversify your portfolio while also taking your personal wealth goals into consideration.
Waters, Parkerson, & Co. LLC is a fee-only firm that does not have a minimum asset requirement, but does have a $10,000 minimum annual fee in most cases. Therefore, we would not recommend them for people with less than $1 million to invest.
You can expect the following working with Waters, Parkerson, & Co., LLC:
- An easy-to-understand and transparent fee structure.
- Services offered include cash flow management, tax efficiency planning, estate planning, retirement planning, and other general planning services.
- An emphasis will be placed on building a trusting relationship.
There might be many ways to enjoy Baton Rouge and there might be many ways to find success there, but a universal truth is that you’ll need help if you wish to maintain a balanced life and be certain of your financial security for the long term. We think one of the above firms can supply that help. Not all of them will be a perfect fit for everyone, so we encourage you to do some additional research and take the time to need to make this important decision. We wish you the best of luck and nothing but success in your future financial endeavors.