Looking for a Financial Advisor in Houston, Texas?

According to May 2020 research from the Greater Houston Partnership, Houston’s top employers include:

Over 20,000 Employees

• H-E-B
• Houston Methodist
• Memorial Hermann Health System
• UT MD Anderson Cancer Center
• Walmart

10,000 to 19,999 Employees

• ExxonMobil
• HCA Houston Healthcare
• Kroger
• Landry’s
• Schlumberger
• Shell Oil Co.
• Texas Children’s Hospital
• United Airlines
• UT Health Sciences Center
• Wood Group

Before hiring an advisor, determine what services you need from them. Whether it’s full-service investment management or a plan focused on a specific area of your finances, put together a list of what you’d like help with before contacting an advisor.

Though most people use a financial planner simply to invest for retirement, this is only a small part of what many advisors offer. Here’s a quick rundown of potential services a financial advisor may offer you:

• Budgeting and money management
• Debt management
• Insurance planning
• Retirement planning
• Other investment planning
• Inheritance planning
• Estate planning
• Tax planning

As you can see, financial advisors can help you with your entire financial picture, not just investing. As you start to plan for life’s bigger milestones, you should consider finding a financial advisor who specializes in those areas.

Finding the right advisor can help you minimize risk, maximize gains and take advantage of tax breaks while investing for your future. They can also help you protect your assets with the right kinds of insurance and help you pass on your financial legacy with a proper estate plan.

Once you have a list of services you would like, review the fee structures financial advisors offer. Finding a balance between the services you need and the cost of those services will help narrow down the field of advisors you may want to work with.

If you are looking for a full-service advisor to manage all of your investments, consider searching among fee-based financial advisors. If you want to manage your money yourself, consider the flat fee and monthly subscription advisors for ongoing support.

Once you have chosen the services and fee structure you prefer, it’s time to contact a few advisors and interview them. Here are questions to ask financial advisors:

• What services do you provide?
• What are all the ways you get paid? (fee transparency)
• What is your investment strategy?
• How do you measure investment performance?
• How do we communicate about my plan?

Interview multiple advisors to get a feel for who you want to work with. A combination of fees, services, and customer service will help you determine the best fit for your financial advice.

Once you find an advisor (or two) you feel comfortable with, it’s always a good practice to check their credentials and the firm’s details. You can do this at the Investment Adviser Public Disclosure (IAPD) website. 

You can check both the individual and the firm to view their background and experience details, as well as any disciplinary action taken against them or their firm.

As licensed financial professionals, there is oversight into how financial advisors conduct business, so running a quick (free) check on them is recommended.

For additional information about advisor credentials, read our article to learn the most popular designations held by financial advisors, as well as specialized credentials which may be important to consider if you have unique financial planning needs.

• Houston Zoo. Our kids love visiting the animals and riding on the carousel. We have a family membership, and we like the fact that it’s outdoors. The other nice thing about the Houston Zoo is that it’s near Hermann Park.
• Catching a Prelude Music concert at Levy Park. Our kids do music online with Prelude Music, so it’s always a treat when we can go to the park and listen to the music live. Levy Park recently reopened the children’s playground area. We have quite a few parks near where we live, but our kids love going to Levy Park.
• Edith L. Moore Nature Sanctuary is pretty neat. It’s like this little 18-acre secluded forest surrounded by a city. Good place to go for shade and to beat the heat when it’s warm out.
• Before we had kids, my wife and I liked going to Miller Outdoor Theater to watch performances on the lawn.

• Favorite Local Restaurant: Juanita’s Mexican Food
• Favorite Local Sports Team: Texas Longhorns
• Favorite Family Activity: Swimming!
• Favorite Local Attraction: My band’s studio space
• Favorite Place to Show Out of Town Guests: Houston Museum of Natural Science

• Favorite Local Restaurant:  Coppa or The Raven Grill.  We love local neighborhood places where we can eat outside.
• Favorite Local Sports Team:  Houston Astros.  Baseball has always been such a statistics and probabilities game, and that resonates with us as investors.
• Favorite Family Activity:  We enjoy meals together.  We’re all busy, but meals are a time when we’re all in the same place at the same time and have time to connect and catch up…and laugh.
• Favorite Local Attraction:  The Houston Zoo.  You forget you’re right in the middle of the 4th largest city in the country.
• Favorite Place to Show Out of Town Guests:  The Houston Livestock Show & Rodeo.  Even for those of us who don’t have an inner cowboy or cowgirl, it’s so quintessentially Houston.  And it’s something you just don’t see in most other places!

How do I know if I’m ready to hire a financial advisor?

You should strongly consider hiring a financial advisor if you have a significant amount of money available for saving or investing. This could occur after years of making annual contributions to a retirement plan like a 401(k) through your employer or suddenly if you receive a large inheritance or sell your house for a large profit.

But even if you don’t have a lot of money saved, many financial advisors and planners provide reasonable pricing options and valuable services you should consider, especially if you’re facing a significant life event. For example, if you’re starting a new job, getting married, starting a family, getting divorced, lost your job, starting or selling a business, or approaching retirement age, working with a trusted financial advisor or planner may prove worthwhile.

Before I hire a new financial advisor, should I fire my current advisor?

You don’t need to fire your current advisor before beginning your search for a new financial advisor. In fact, your new advisor can help coordinate the transition of your assets from your previous financial advisor.

Where can I read reviews about financial advisors written by their clients to help me decide if I should hire them?

After 60 years of regulatory prohibition of financial advisor reviews in the US, a rule issued by the Securities and Exchange Commission (SEC) became effective on May 4, 2021 that means both financial advisors and directory websites that help consumers search for a financial advisor can collect and display financial advisor reviews, an important factor worth considering when choosing who you’ll hire to manage your investments and life savings. 

Wealthtender is the first independent advisor review platform designed to be fully compliant with the new SEC rule, and we look forward to helping you evaluate financial advisors based on reviews written by their clients.

I’m a Houston financial advisor interested in being featured in this guide. How do I get started?

Thanks for your interest. We look forward to learning more about your practice and helping you attract your ideal clients where you may be a good fit based on their individual needs and circumstances. Please click here to learn how you can join Houston financial advisors featured on Wealthtender.

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