A financial advisor can provide a broad knowledge of financial management and investment to your future.
Ready to find a financial advisor in Austin? Start with Benzinga’s list of the city’s best financial advisors to help guide your investments.
Quick Look at the Best Financial Advisors in Austin, Texas:
- Best for Long-Term Investing: Lucien, Stirling & Gray
- Best Robo-Advisor: M1 Finance
- Best for Life Insurance Planning: Lion Street Advisors
- Best for Holistic Approach: Austin Asset
- Best Portfolio Analysis: Personal Capital
- Best for Retirement Planning: Richard P. Slaughter & Associates
- Best for Finding Financial Advisors: SmartAsset
- Best for Risk-Averse Investing: Halbert Wealth Management
Best for Long-Term Investing: Lucien, Stirling & Gray
Lucien, Stirling & Gray is an Austin firm focused on long-term investing strategies. The majority of clients are individuals ready to maximize savings before retirement. You don’t need to be a millionaire to begin investing — the minimum to open a managed account is just $100,000. About 77% of clients are individuals that don't qualify as high-net-worth.
Its investing strategy might be somewhat conservative for younger investors, but the firm offers solid, safe solutions for older investors preparing for retirement.
- Customizable Auto Investing
Best Robo-Advisor: M1 Finance
M1 Finance uses technology to help you manage your money. You can invest for free with no minimum required into stocks, exchange-traded funds (ETFs) or fractional shares. You can choose to customize your own investment portfolio or invest in expert picked portfolios. The robo-advisor can help with tax-efficiency, auto-investing, portfolio allocation and more.
Once you have $10,000 in your account, you’ll qualify for low-cost borrowing. You can also open a FDIC-insured checking account with no monthly maintenance fees. If you upgrade to a M1 Plus account, you’ll get access to a 1% cashback debit card and a 1% APY on your checking account.
Best for Life Insurance Planning: Lion Street Advisors
If you’re already using a wealth management service but are unsatisfied, consider Lion Street Advisors. Its team specializes in working directly with your former wealth management team to create a smooth transition in asset allocation and strategy.
Lion Street Advisors works with nearly every type of client, from individual investors saving for retirement or college expenses to high-net-worth individuals who need to safeguard assets. No matter which investment class you fall into, Lion Street focuses on providing personalized, hand-selected and allocated portfolios to fit your individual needs.
Best for Holistic Approach: Austin Asset
Austin Asset is a top financial planning firm if you’re looking for holistic wealth management. It provides everything from investment management to life planning services for things like retirement, college and future health care needs.
Its investment strategies are custom-fitted to your specific needs. Its team even provides charitable planning services to help you channel your support to reputable causes.
- High Net Worth Individuals
Best Portfolio Analysis: Personal Capital
Personal Capital combines traditional financial advising with robo-advising to improve the way you manage your money. Personal Capital’s award-winning dashboard has free financial tracking tools that monitor your net worth, help you create a budget, plan for retirement and more.
Personal Capital Cash is a cash management program that allows you to save your money while earning a higher interest rate than a traditional savings or checking account. The interest rate can range between 0.05% and 0.10% APY.
Although financial tracking tools and Personal Capital Cash are free, you’ll need at least $100,000 in your accounts to talk with a registered financial advisor. Depending on the size of your assets, annual fees can range between 0.89% and 0.49%.
Best for Retirement Planning: Richard P. Slaughter & Associates
Richard P. Slaughter is a financial planning firm that primarily works with large-scale business and corporation owners. Its FiduciaryPlus 401(k) management and planning service is its primary offering. The FiduciaryPlus is a complete management solution for business owners who offer 401(k) plans to its employees.
After a financial review and consultation, its advisors can provide insights and recommendations for a 401(k) plan that serves both the individual needs of the employees and the cost-management needs of the business.
- Comparing Advisors
Best for Finding Financial Advisors: SmartAsset
Find the right financial advisor to prepare for your future with SmartAsset. Its platform connects investors, soon-to-be-retirees and retirees with financial advisors from across the country.
SmartAsset provides you with free and secure access to the financial advisor marketplace. It sources advisors specifically for you based on your location, assets and personal preferences.
Answer a brief survey regarding your preparedness for retirement, investment style and contact information. Then the SmartAsset’s algorithm can match you with the best financial advisor for you.
Best for Risk-Averse Investing: Halbert Wealth Management
If you’re an investor concerned about the possibility of an upcoming recession, Halbert Wealth Management might be the right financial advisor for you. Halbert’s investment strategy focuses 1st on building a “recession-proof” portfolio that produces modest returns — no matter the market conditions.
Halbert can also provide guidance if you’re near retirement and worried about jeopardizing your future plans. Account minimums begin at just $50,000.
Frequently Asked Questions
How can I research the background of my financial advisor?
You can research your financial advisor’s credentials, background and any disciplinary actions through the Securities and Exchange Commission (SEC) website.
Do financial advisors check your credit?
There’s no credit requirement to work with a financial advisor. However, many can take a look at your credit score and recommend ways to improve your score if you wish.
Do I need a financial advisor for retirement?
No, but it helps. Many investors find themselves more confident about reaching their retirement goals once they’ve created a strategy with a financial professional.
Consulting with a Financial Advisor
A financial advisor or financial planner can help you overcome obstacles and achieve goals no matter where you are in life. Whether you want to pay down college debt more quickly, buy a home or save for retirement, a smart financial strategy is key. Reach out to a financial advisor and build a plan to meet your goals today.
Methodology
To determine the top financial advisors in Austin, we pored through all SEC-registered advisory firms who have an office in Austin. We winnowed the list by only including advisors that are registered fiduciaries, have no past disclosures and have minimal personal conflicts of interest. To further break down the list to the true top advisors in the area, we gave weight to advisors that offer both investment management and planning, have no conflicts of interest, have offices in multiple states, have a wrap fee program and over $50 million in assets under management.
Continue reading: BEST TECH STARTUPS IN AUSTIN, RANKED