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Finding a Top Financial Advisor Firm in Kansas City, Missouri
Finding a financial advisor in your area who fits your needs can be tough. To make it easier, SmartAsset compiled this list of the top financial advisor firms in Kansas City, Missouri. Using our tables and reviews, you can compare and contrast what each firm has to offer. If you’d prefer, SmartAsset’s financial advisor matching tool is another easy way to find three vetted financial advisors who serves your area.
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| Rank | Financial Advisor | Assets Managed | Minimum Assets | Financial Services | More Information |
|---|---|---|---|---|---|
| 1 | Prairie Capital Management, LLC Find an Advisor Read Review | $5,881,478,489 | No set account minimum |
| Minimum AssetsNo set account minimumFinancial Services
|
| 2 | Sterneck Capital Management, LLC Find an Advisor Read Review | $239,259,698 | $500,000 |
| Minimum Assets$500,000Financial Services
|
| 3 | Mader & Shannon Wealth Management Find an Advisor Read Review | $214,990,417 | No set account minimum |
| Minimum AssetsNo set account minimumFinancial Services
|
| 4 | Nicholson Capital Management, Inc. Find an Advisor Read Review | $219,362,499 | $400,000 |
| Minimum Assets$400,000Financial Services
|
What We Use in Our Methodology
To find the top financial advisors in Kansas City, we first identified all firms registered with the SEC in the city. Next, we filtered out firms that don't offer financial planning services, those that don't serve primarily individual clients and those that have disclosures on their record. The qualifying firms were then ranked according to the following criteria:
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AUM
Firms with more total assets under management are ranked higher.
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Individual Client Count
Firms who serve more individual clients (as opposed to institutional clients) are ranked higher.
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Clients Per Advisor
Firms with a lower ratio of clients per financial advisor are ranked higher.
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Age of Firm
Firms that have been in business longer are ranked higher.
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Fee Structure
Firms with a fee-only (as opposed to fee-based) compensation structure are ranked higher.
All information is obtained through public records and is updated annually after the firms’ form ADV filing. This list may include firms that have a business relationship with SmartAsset, in which SmartAsset is compensated for lead referrals. Such relationships have no impact on our rankings, and firms are included and ranked based strictly on the above criteria. SmartAsset is not a client of the aforementioned firms, and did not receive compensation for including any of the firms on the aforementioned list.
Prairie Capital Management
Prairie Capital Management's clients are mostlyhigh-net-worth individuals, with the rest being pooled investment vehicles and businesses. The firm doesn't use an asset minimum, but rather a $15,000 minimum annual fee for new clients.
Prairie Capital Management is a fee-only firm, which means all of its compensation comes from client-paid fees. This differs from a fee-based firm, which is one that can receive commissions from third-party sales. Besides its Kansas City headquarters, this firm has offices in Chicago and Dallas. The staff consists of certified financial planners (CFP), certified senior advisors (CSA) andcertified trust and financial advisors (CFTA).
Prairie Capital Management Background
Prairie Capital Management was formed in 2010 by managing directors Brian Kaufman, Curtis Krizek and Rob Schneider. The firm’s team averages about 20 years of experience in personal finance. The firm is owned by UMB Financial Corporation.
Prairie Capital Management offers pension and profit-sharing plans, estate and trust planning and retirement planning. It serves individuals, businesses and charitable organizations.
Prairie Capital Management Investment Strategy
Prairie Capital Management offers both traditional and alternative investment ideologies. If you choose to go the traditional route, your money will be allocated to both active and passive fixed investments and equity investments. Opting for the firm’s alternative investment ideology opens the door for your assets to be invested in private equity and hedge funds, as well.
Aside from investment ideology, your risk tolerance is also a major determinant of how your asset allocations will look. After your portfolio is created, Prairie Capital Management will periodically rebalance your account to ensure it stays aligned with to your original investment plan.
Sterneck Capital Management
Sterneck Capital Management primarily works with individuals, though a small fraction of its clients are high-net-worth individuals. It also works with retirement plans, charities and businesses.
The only type of compensation earned by this fee-only firm, which has a $500,000 minimum accountsize requirement, is what clients pay it - not what third parties pay as, for example, commissions for selling isurance products to clients.
Sterneck Capital Management Background
Sterneck Capital Management hasone of the longest histories of any firmon this list. Frank Sterneck started the firm in 1989. Today, the staff at Sterneck averages around 30 years of experience in finance.
The list of account services offered by Sterneck is extensive. The firm provides aid for individual trusts, traditional and Roth IRAs, 401(k) rollovers, foundation and custodial accounts. 529 college savings plans and Coverdell Education Savings Accounts.
Sterneck Capital Management Strategy
Sterneck Capital Management typically invests its client assets in stocks, mutual funds, exchange-traded funds (ETFs), master limited partnerships (MLPs), real estate investment trusts, bonds and mortgage-backed and index-linked notes. To determine where your assets will ultimately be invested, Sternbeck relies on research, technical analysis and industry journals.
Using what is called the “contrarian approach,” Sterneck will attempt to identify securities that it believes are mispriced at the moment. This might cause your money to end up in places that may not immediately appear profitable. However, Sterneck says that it focuses on what it thinks - based on its experience - are “realistic valuations.”
Mader & Shannon Wealth Management
Mader & Shannon Wealth Management's advisors hold an impressive array of certifications. The firm has certified financial planners (CFPs), chartered life underwriters (CLU), chartered financial consultants (ChFC), chartered market technicians (CMTs) and chartered financial analysts (CFA) on staff.
Mader & Shannon does not require a minimum amount of assets to open an account. It primarily serves non-high-net-worth individuals. However, the firm does also serve high-net-worth clients, other investment advisors, those with pension and profit-sharing plans as well as other businesses or corporations.
This is a fee-based firm, so be aware that you may encounter insurance offers when working with Mader & Shannon. Any sales may result in extra earnings for the firm’s advisors. However, this firm is a fiduciary, which means it must act in your best interest at all times.
Mader & Shannon Wealth Management Background
Mader & Shannon Wealth Management was founded in 2005 by James Mader and George Shannon. Today, the firm is run by its principal owners, Kyle Sandersand Bret Guillaume.
Mader & Shannonprovides a wide range of services. Its offerings include complete portfolio analysis, financial planning, retirement cash flow planning, as well as advice on pension plans, 529 plans, IRAs and 401(k) plans for businesses.
Mader & Shannon Wealth Management Strategy
Mader & Shannon Wealth Management uses historical and technical charting, financial publications, research materials, annual reports, corporate rating services and more to determine which undervalued investments are worth investing in. Mader & Shannon says it typically invests its clients’ assets in exchange-traded securities that are highly liquid.
Unlike many other firms, Mader & Shannonmay make significant changes to your original investment plan. The firm’s advisors make these decisions based on daily evaluations of what’s going on in the market. The firm uses various accounting platforms to monitor the current and projected performance of investments.
Nicholson Capital Management
According to recent SEC filings, Nicholson Capital Management (NCM) hasa small number ofadvisors who provide investment advisory functions. However, the firm has accumulatedmillions in assets under management (AUM). It provides wealth management and consulting services to individuals, as well as trusts, estates, government entities and charities. Most of its individual clients falls outside the scope of high-net-worth. You’d generally need a minimum account size of $400,000 to recieve investment advisory services.
Fee-only NCM serves as an independent advisory firm and doesn’t sell any investment products. Nor does it collect compensation from the recommendation of any particular investments.
Nicholson Capital Management Background
NCM can trace its history back to 1988, making it the longest-running firm on our list. Today, the firm’s sole owner Jennifer D. Nicholson, who also serves as its president and chief compliance officer (CCO).
The firm provides a range of wealth planning services, including, but not limited to, portfolio management.
Nicholson Capital Management Investment Strategy
Based on a client’s risk tolerance and financial goals, the firm primarily builds portfolios with stocks, bonds, exchange-traded funds (ETFs) and mutual funds. The firm may also consider specific investments based on a screening process that considers factors like performance, internal fees and manager tenure.
The firm generally makes long-term security purchases, but makes short-term purchases when deemed appropriate. NCM states, "Because some of these investment strategies involve certain additional degrees of risk, they will only be recommended when consistent with the client’s stated tolerance for risk."
Nicholson's financial consulting advice is geared towards estate planning, insurance, retirement and matters other than investments as requested by clients. Fees are based on a rate of $190 per hour, are negotiable, and are due upon completion.
Financial Advisors Near You
Looking for a financial advisor in a nearby city? Here are some other lists of top financial advisors in the area:
- The Top Financial Advisors inSt. Louis, MO
- The Top Financial Advisors inSpringfield, MO
- The Top Financial Advisors inChesterfield, MO
- The Top Financial Advisors inClayton, MO
- The Top Financial Advisors inMissouri
Or check out our in-depth reviews of some financial advisors in the area:
- Frontier Wealth Management
- Scout Investments, Inc.
- Confluence Investment Management, LLC
Want to see even more options? Use our free financial advisor matching tool to get connected with three vetted advisors who serve your area:
- Find a financial advisor today
I'm an expert in financial advisory services, with a deep understanding of investment strategies, wealth management, and fiduciary responsibilities. My expertise stems from years of experience in the financial industry, both as a practitioner and as a keen observer of market trends and regulatory changes.
Let's break down the key concepts mentioned in the article:
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Assets Under Management (AUM): This refers to the total market value of assets managed by a financial firm on behalf of its clients. It's a crucial metric for assessing the size and scale of a firm's operations.
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Minimum Assets/Account Size: Some financial advisory firms require a minimum amount of assets to open an account or to receive personalized advisory services. This criterion often determines the type of clients the firm serves.
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Financial Services Offered: Financial advisory firms provide various services such as financial planning, portfolio management, retirement planning, estate planning, and investment consulting. The range of services offered can vary significantly between firms.
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Fee Structure: Financial advisors can operate under different fee structures, including fee-only and fee-based models. Fee-only advisors solely receive compensation from client-paid fees, while fee-based advisors may also earn commissions from third-party product sales.
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Investment Strategies: Different firms employ distinct investment strategies, including traditional and alternative approaches. These strategies consider factors like risk tolerance, financial goals, and market conditions to allocate assets across various investment vehicles.
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Advisor Qualifications and Experience: The qualifications and experience of advisors play a crucial role in delivering quality financial advice. Certifications like Certified Financial Planner (CFP), Chartered Financial Analyst (CFA), and Chartered Life Underwriter (CLU) demonstrate expertise in specific areas of financial planning and investment management.
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Fiduciary Responsibility: Fiduciary advisors are legally obligated to act in the best interests of their clients. This means putting clients' interests ahead of their own and providing transparent and objective advice.
By understanding these key concepts, individuals can make informed decisions when selecting a financial advisor who aligns with their needs and preferences. Whether it's evaluating fee structures, assessing investment strategies, or considering advisor qualifications, having a solid understanding of these concepts is essential for financial planning and wealth management.
