There is truly no place on earth like New Orleans, and no short description here could do justice to the resilient mixture of peoples and cultures that have made the city their home. And among the large population, there are people who, like you, have made the most of the opportunities the city provides and have found a great deal of success and wealth. Yet wealth can be something of a burden to manage, especially when there are so many better things to do in the city. For this reason, we suggest you consider employing a financial advisory firm.
Yet which firm would be best for you out of the many options operating in or near New Orleans? Here are our top five choices for financial advisory firms for New Orleans, Louisiana:
1) Waters, Parkerson, & Co., LLC
The largest firm in the area with $1.53 billion in assets under management and a firm that’s practically in its own weight class, Waters, Parkerson, & Co., LLC get a lot done for a firm with about five advisors. Working with individuals (although they specialize in high net worth individuals) of all types as well as organizations, the firm was founded all the way back in 1933, and their advisors are highly qualified.
They are more conservative when managing assets for their clients, and prefer to carefully diversify portfolios and preserve wealth than take unnecessary risks. They will also weigh in the goals of the client when making decisions.
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:
- Trust is key to them, and they will take the time and effort to build a trusting relationship with their clients.
- Services including retirement placing, cash flow management, estate planning, and tax efficiency planning.
- A clear and easy to understand fee structure.
2) Crescent Capital Consulting, LLC
Founded in 2010, Crescent Capital Consulting is by some standards a newcomer to New Orleans, but they’re a great team that is experienced at working with non-high net worth individuals, which is not something that can be said about every firm on this list. They have $617 million in assets under their management and can provide comprehensive financial planning services.
They will focus primarily on your objectives as a client when determining a plan, and will process to adjust your portfolio and recommendations as necessary and as you change your goals.
Crescent Capital Consulting, LLC is a fee-only firm that does not have a stated account minimum, although as always, we do advise you to double-check their fees to see if you are a good fit.
You can expect the following working with Crescent Capital Consulting, LLC:
- A well-thought-out and independent process for determining what advice to give you and what moves to make with your portfolio.
- A wide range of specialized services available.
- A team of specialists and analysts who each have something to bring to the table.
3) Delta Financial Advisors
Out third choice, Delta Financial Advisors, has about $408 million in assets under management. With only a few advisors ready to help people, they are focused and pay careful attention to the several hundred clients they currently have. Founded in 2002, they have prover their ability to provide excellent financial advice and hold themselves to the objective standard you would come to expect.
Their investing strategy will generally revolve around you, your stage in life, and what your primary goals are. They will take tax considerations into account when creating your plan and making adjustments down the road.
Delta Financial Advisors is a fee-only firm that requires that you have $500,000 in investible assets to work with them, but they may change this amount depending on the potential client.
You can expect the following working with Delta Financial Advisors:
- A team that has strong values and holds itself to very high standards.
- A willingness to invest in individual stocks.
- Ongoing asset review and market analysis so your portfolio won’t be caught off guard.
4) FreeGulliver, LLC
FreeGulliver, LLC is a New Orleans firm that has a little over $260 million in assets under management. Founded in 1999, they want all of their clients to be free from the burdens and confusion that wealth can bring, and instead focus on the next steps forward while they handle the technical decisions with your input. With a good-sized staff on hand, they are well-equipped to do just that.
The firm will focus primarily on proper asset allocation and will adjust based on your risk tolerance, goals, and other factors.
FreeGulliver, LLC is a fee-based firm that does not have a minimum account requirement to work with them, although we do advise you check as to their fees.
You can expect the following working with FreeGulliver, LLC:
- The use of good online tools to facilitate many advisory and management processes.
- Business consulting and planning services if you are responsible for an organization that might be in need.
- A family office that can help you with your generational wealth concerns.
5) Dean Retirement Strategies, Inc.
Our last choice is Dean Retirement Strategies, Inc., a firm with $150 million in assets under management and a history in New Orleans that goes back to 1993. With about half a dozen advisors, the firm specializes in retirement, but can adjust to your unique retirement goals, no matter how close you are to it.
Their investment strategy is more conservative than some, but doesn’t deviate too strongly in any ideological direction in order to generate moderate yet safer returns.
Dean Retirement Strategies, Inc. is a fee-only firm that usually works with clients that have $1 million or more to invest.
You can expect the following working with Dean Retirement Strategies, Inc.:
- A team-based approach to providing investment advice and financial planning services.
- They strictly hold themselves to the fiduciary standard.
- You will be able to expect a unique and tailored plan regarding your retirement.
We know that many people living in New Orleans want to stay there for the rest of their life, and we want to help you make sure that will never come into question. Therefore, we recommend again that you consider a few of the above firms and do some more research as to what you’re exactly looking for and how you think you can best be helped. Only you will be able to make the final decision, and we wish you the best of luck with your financial future.