Top 10 Financial Advisors in Alabama

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Located in Birmingham, WA Asset Management is a fee-only firm, which means that advisors do not earn commissions. The company generally requires a minimum asset level of $1 million and charges clients asset-based fees for investment management, as well as hourly or flat fees for standalone financial planning and consulting. 

The majority of the firm’s assets under management come from high-net-worth individuals, although its advisors also work with individuals, pensions and profit-sharing plans, trusts, estates and charitable organizations, as well as business entities. The firm’s staff of advisors includes 11 certified financial planners (CFPs), seven certified public accountants (CPAs), three chartered financial analysts (CFAs) and other accredited professionals.

WA Asset Management Background

Founded in 1999, the firm was previously known as Warren Averett Asset Management but has since undergone a change in ownership and name. In 2017, Warren Averett Asset Management merged with Kinsight, a top Birmingham financial advisory firm. Today, it's principally owned by WAAM Parent, LLC, an affiliate of Wealth Partners Capital Group, LLC, and ultimately, through intermediate subsidiaries. The firm is still led by Joshua Reidinger, president and chief executive officer. Reidinger has been with the firm for over 20 years. 

While its headquarters are in Birmingham, the firm also has offices in Florida. The company offers the following services:

• Financial planning
• Portfolio management
• Pension consulting services
• Selection of other advisors, including private fund managers

WA Asset Management Investment Strategy

The firm employs both long- and short-term investment strategies, allocating assets among mutual funds, exchange-traded funds (ETFs) and independent managers. Advisors use both fundamental and technical analysis to make financial forecasts and predict the direction of prices.

WA Asset Management builds portfolios according to the following asset allocation models:

• Aggressive: 69% domestic equity; 30% international equity; 1% cash
• Growth: 57% domestic equity; 23% international equity; 19% fixed income; 1% cash
• Moderate: 42% domestic equity; 18% international equity; 38% fixed income; 2% cash
• Moderately conservative: 28% domestic equity; 12% international equity; 57% fixed income; 3% cash
• Conservative: 15% domestic equity; 5% international equity; 76% fixed income; 4% cash

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Arlington Partners, a fee-only firm in Birmingham, is the top financial advisor in the state. With more assets under managment than any other firm on the list, Arlington Partners also has the lowest client-to-advisor ratio.

Arlington is ultra-exclusive, requiring multi-family office clients have at least a $10 million average net worth per household and a $50 million minimum group/family net worth. Clients receiving single family office services typically must have a least $250 million in family net worth.

As a result, almost all clients are high-net-worth individuals and families. And as a fee-only practice, Arlington's advisors do not sell insurance or securities for commissions. 

The Arlington team features three certified financial planners (CFPs), 13 certified public accounts (CPAs) and two chartered financial analysts (CFAs). 

Arlington Partners Background

The firm was founded in 1998. Kenneth Polk is the firm’s CEO and primary owner. Peter Barber, Elliot Robbins, Stephen Rowe and Emily Vanlandingham -- all members of the leadership team -- also have ownership stakes in the firm. In addition to its headquarteres in Birmingham, Arlington Partners has an office in Nashville, Tennessee.

The firm offers the following services:

• Financial planning
• Portfolio management
• Selection of other advisors
• Family office and consulting services

Arlington Partners Investment Strategy

The firm typcially recommends investment strategies that rely on cash, fixed income, global equities, hedged strategies, private equity, real estate and commodoties. In addition to creating customized portfolios for clients, Arlington Partners manages its own funds, which are available to certain clients. These funds focus on specific investment objectives, including global equities, hedged strategies, and real estate/private equity. 

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Despite a relatively short track record, Stonegate Investment Group is the next firm in all of Alabama. This fee-only practice works serves a large number of individual clients, both above and below the high-net-worth threshold. Pensions, profit sharing plans and businesses are also clients of the firm. There is no set account minimum. 

As a fee-only firm, Stonegate advisors do not collect commissions for recommending third-party financial products or insurance. Stongate has one certified financial planner (CFP) and one chartered financial analyst (CFA) on staff. 

Stonegate Investment Group Background

Founded in 2021, Stonegate is the youngest first on this list. The practice is registered with the Securities and Exchange Commission and wholly owned by Stonegate Investment Group Holdings, LLC. The following employees have either direct or indirect ownership stakes in the holding company: Tony R. Smith, Christopher J. Compton, Matthew C. Brown, Mark F. Sommer, James W. Allen, Jerry G. Duncan and William E. Richardson. Smith serves as chief executive officer and chief investment officer of the firm.

Stonegate offers both discretionary and non-discretionary investment management to individuals and retirement plans. The firm also provides financial planning and consulting services. 

Stonegate Investment Group Investment Strategy

Stonegate's investment strategies are rooted in the individual needs of clients. The sets out to get to know its clients and understand their financial situations, risk profiles, investment objective, tax situations and liquidity contraints. From there, advisors will invest a client's money across a combination of equity securities, bonds, mutual funds, exchange-traded funds (ETFs), as well as limited partnerships and pooled investment vehicles focusing on alternative asset classes. Stonegate also uses call options, protective put option and long put options in client portfolios.

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Keel Point, the top-rated financial advisory firm Huntsville, is also the next practice in the state of Alabama. While the hirm has offices throughout the southeast, its team in Huntsville includes four certified financial planners (CFPs), as well as one chartered retirement planning counselor (CRPC) and one accredited investment fiduciary analyst (AIFA).

Keel Point works with individuals, high-net-worth individuals, pensions and profit-sharing plans, estates, trusts and charitable organizations, as well as business entities. The firm requires a $50,000 account minimum for its Core Portfolio Strategies Program and a $150,000 minimum for its Standalone Tactical Program. 

Keel Point is a fee-based firm, so in addition to asset-based management fees, some advisors may also collect commissions on certain financial products and insurance. However, the firm is a fiduciary and must act solely in its clients’ interests.

Keel Point Background

Founded in 1998, Keel Point merged with BlueCreek Investment Partners, LLC in 2015 under one firm. Today, the company has offices in Washington D.C.; Birmingham; Chattanooga, Tennessee; Greenville, North Carolina; Leawood, Kansas; and Nashville, Tennessee. The firm is owned by Keel Point Partners, LLC, which is controlled by client-investors and members of the company’s management team. 

Keel Point Partners also owns Keel Point Insurance Advisors, LLC. Additionally, the firm has a subsidiary, Keel Point Capital, LLC, through which it provides brokerage services to its clients. 

Keel Point offers clients:

• Financial planning
• Portfolio management
• Selection of other advisors, including private fund managers
• Consulting services to third-party registered investment advisors

Keel Point, LLC Investment Strategy

Keel Point advisors use both a fundamental and quantitative process to create diversified, long-term portfolios. In addition to the Core Portfolio Strategies Program and Standalone Tactical Program, the firm offers several other investment programs that use statistical modeling to ensure portfolios remain within a client’s defined risk parameters. The firm’s investment programs generally include equity, fixed income and alternative assets.

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Leavell Investment Management is a fee-only advisory firm and the top-rated practice in Mobile. The firm has a large staff that comprises certified financial planners (CFPs), certified public accountants (CPAs), chartered financial analysts (CFAs), and at least one chartered life underwriter (CLU) and one certified investment management analyst (CIMA).

As a fee-only firm, Leavell Investment Management is compensated through asset-based management fees, which vary by portfolio. While there is no set account minimum, the firm does impose a minimum annual fee of $5,000 regardless of account size.

The firm works with individuals, high-net-worth individuals, investment companies, as well as pensions and profit-sharing plans. Clients also include retirement plans, business entities, trusts, estates and charitable organizations. 

Leavell Investment Management Background

Thomas Leavell founded the firm in 1979, six years into his investment management career. Leavell remained a principal owner until 2014. Currently, many of the firm’s employees are shareholders, although no one person owns 25% or more of the business. 

Client services include:

• Financial planning
• Portfolio management
• Pension consulting
• Selection of other advisors, including private fund managers

Leavell Investment Management Investment Strategy

Depending on a client's investment goals, advisors allocate assets across various classes including individual stocks and bonds, mutual funds, exchange-traded funds (ETFs), as well as master limited partnerships, options, real estate investment trusts, and other securities.

"Investment goals are achieved over time through board diversification, control of risk and realization of the benefits of compounding," the firm's Form ADV brochure states. 

The firm prefers fundamental analysis and derives its information from Morningstar reports, fund prospectuses, S&P reports, financial news and other materials. The firm's equity management strategy seeks long-term capital growth while mitigating risk through diversification. Leavell's fixed income management strategy is designed to protect principal with short- and intermediate-term bonds. 

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Bridgeworth Wealth Management is a fee-based financial advisor headquartered in Birmingham. In general, the firm requires a $500,000 minimum account balance and charges an asset-based fee for portfolio management, as well as flat or hourly fees for standalone financial planning and consulting services. The firm targets clients with a minimum portfolio size of $5,000,000 for its Private Client Group program. Certain robo-advisor programs have an account balance minimum of $5,000 or $50,000.

The firm primarily works with individuals, although its client base also includes high-net-work individuals, pensions and profit-sharing plans, trusts, estates and charitable organizations, as well as business entities. The firm's advisory team includes 23 certified financial planners (CFPs), five chartered retirement planning counselors (CRPCs), three chartered financial consultants (ChFCs) and other accredited professionals.

Bridgeworth Wealth Management advisors are also licensed independent insurance agents who can earn commissions for selling insurance products or securities, making the firm a fee-based advisor. However, Bridgeworth Wealth Management is required to act in clients’ best interests as a fiduciary. 

Bridgeworth Wealth Management Background

Bridgeworth Wealth Management, formerly known as Bridgeworth LLC, has been providing investment advisory services since 2012. Founded by DeLynn Zell, the firm is owned by 10 employees and has a second location in Huntsville. Zell, who also serves as the firm’s CEO, has spent more than 25 years specializing in retirement planning, asset management and income distribution. 

Bridgeworth Wealth Management offers clients:

• Comprehensive wealth management
• Standalone financial planning and consulting
• Standalone investment management
• Robo-advisor programs
• Selection of other advisors, including private fund managers
• Retirement plan and pension consulting

Bridgeworth Wealth Management Investment Strategy

The firm uses both quantitative and fundamental analysis in developing its investment strategies. Assets are allocated according to models constructed by the firm, which typically consist of no-load mutual funds and exchange-traded funds. Advisors may also add individual stocks, bonds, certificates of deposit and alternative investments to a client’s portfolio. Advisors avoid market timing, but may increase a client’s cash holdings when necessary.

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EverSource Wealth Advisors is a fee-based firm based in Birmingham, Alabama that works with individuals, families, estates and trusts, charitable foundations and funds and institutions. There is no hard requirement for the amount of assets you must invest with the firm in order to employ its services. 

EverSource provides wealth management, investment advisory, financial planning and consulting services to its clients. As a fee-based firm, some of its advisors may earn commissions for the sale of securities. This could create a potential conflict of interest but the firm must serve as fiduciary, meaning it must put the needs of each client first. 

EverSource Wealth Advisors Background

The firm was founded in 2017 by Don Murphy, who serves as an advisor today. Mark Wesson has taken over the reigns as CEO of the firm, managing the day-to-day. The firm is home to 26 advisors who hold a number of designations that include CFP, CKA, CPA, CTFA, CVA, CFA and AEP.  

EverSource Wealth Advisors Investment Strategy

The investment methods, focus and depth of analysis vary based on the investment program and are applied based on the risk rtype and level of the investment strategy developed for each individual client. While each investment strategy depends on the client's needs and risk tolerance, the firm typically utilizes a portfolio of mutual funds, ETFs and third-party managed accounts across multiple investment styles. These core elements remain fairly consistent. 

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Located in Birmingham, Southern Financial Group is a fee-based firm that primarily works with individuals and high-net-worth individuals. Clients also include pensions and profit-sharing plans, trusts, estates and charitable organizations, in addition to corporations and businesses. Two of the firm's advisors hold the certified financial planner (CFP), certified public accountant (CPA) and personal financial specialist (PFS) designations. The firm also has another CPA on staff. 

While the firm is a fiduciary, some advisors are representatives of a dealer/broker and can earn commissions on certain transactions. As a result, Southern Financial Group is considered a fee-based firm. The company also charges asset-based fees, as most financial advisors do. 

The firm has a $50,000 account minimum.

Southern Financial Group Background

Southern Financial Group was formed in 2006 and currently owned by Christopher Holder and David Painter. Holder and Painter have over 50 years of experience in the financial services industry between them. Today, the firm offers clients financial planning, portfolio management, consulting, tax preparation, IRA rollover recommendations and estate planning services. 

Southern Financial Group Investment Strategy

Southern Financial Group’s investment strategy focuses on identifying an appropriate ratio of securities, fixed income and cash that most closely corresponds with a client’s financial goals. In managing client portfolios, advisors will use long-term purchases, short-term purchases, trading, and on occasion, margins transactions. The firm invests client assets in a combination of exchange-listed securities, securities traded over the counter, foreign issuers, warrants, corporate debt securities, commercial paper, municipal securities, variable life insurance, variable annuities, mutual funds and U.S. goverment securities. 

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Park Place Capital Corporation is a fee-only practice in Birmingham with a relatively small client. Park Place Capital mainly works with individuals without a high net worth, although it also serves high-net-worth individuals, investment companies, retirement plans, charities, government entities and businesses. Park Place Capital does not require a minimum account size to become a client. 

As a fee-only firm, Park Place Capital advisors do not sell financial products or insurance. As a result, the firm's revenue comes from the asset-based fees that clients pay for advisory services, and in some cases, flat fees or hourly charges. 

Park Place Capital has one chartered financial analyst (CFA) on staff, as well as one investment advisor compliance professional (IACCP) and one certified trust and financial advisor (CTFA). 

Park Place Capital Corporation Background

Place Place Capital is one of the oldest firms on our list, having first opened its doors in 1988. While its headquarters are located in Birmingham, the practice maintains offices in Nashville and Tulepo, Mississippi. The business is wholly owned by Rensant Bank, a publicly traded company. 

Park Place Capital offers both discretionary and non-discretionary asset management, retail financial planning, investment advisory services for mutual funds, a wrap fee program, consulting and referrals to third-party investment advisors. 

Park Place Capital Corporation Investment Strategy

Park Place Capital bills its decision-making process as a collaborative effort that emphasizes bottom-up stock selection. Advisors at Park Place Capital team are responsible for stock selection using quantitative analysis, portfolio construction and risk management relative to a benchmark. 

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Porter White Investment Advisors, the next firm on our list, is a fee-based firm that provides financial planning and asset management to individuals, corporations, profit-sharing plans and more. The firm typically requires a minimum investment of $1 million to open an account.  

As a fee-based firm, some advisors on staff are registered representatives of a securities broker-dealer and can receive commissions for selling certain products. This compensation structure creates a conflict of interest because advisors have a financial incentive to recommend certain services and products over others. However, the firm still must abide by its fiduciary duty to always act the client's best interests. 

Porter White Investment Advisors Background

Porter White Investment Advisors has been in the investment advisory business since 1995. James H. White III is the primary owner and currently serves as chairman. The firm is a subsidiary of Porter White Companies, Inc. 

The primary services offered at Porter White Investment Advisory include wealth management, financial planning and consulting, as well as fiduciary services for retirement plans.

Porter White Investment Advisors Investment Strategy

Porter White Investment Advisors can offer its clients a Financial Planning Review, where it gathers information to come up with a balance sheet and action plan. It also provides retirement analysis and estate planning services. 

But its main efforts steer toward portfolio management. Its investment action plan revolves around the following points: 

• Asset allocation
• Investment selection and monitoring
• Cash management
• Performance reports

The firm primarily offers advice on mutual funds, and when suitable, recommends no-load mutual funds that invest in equity and fixed-income securities. Advisors may also recommend fixed-income securities with maturities that are deemed appropriate for the client.