Top Financial Advisors in Mississippi

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Smith Shellnut Wilson, LLC is a fee-only firm with the largest amount of client assets on this list. For advisory services, the firm mainly generates compensation from asset-based fees and fixed fees. The firm imposes a minimum account size requirement of $1,000,000 on its client base of individuals, high-net-worth individuals, corporate entities, pension and profit-sharing plans, charitable institutions, foundations, municipalities, trusts, insurance companies and other U.S. institutions.

Since 1995, SSW has provided financial planning, advisor selection, security ratings/pricing services and discretionary and non-discretionary investment advisory services. Frank W. Smith, III and William Parks Johnson Jr. are the firm’s primary owners.

SSW says it develops investment portfolios based on client needs and objectives. The firm selects securities using fundamental analysis, technical analysis and cyclical analysis. As for its asset types, SSW typically invests in U.S. government and agency bonds, exchange-traded equity securities, U.S. state and local bonds, investment-grade corporate bonds, cash and cash equivalents and securities issued by pooled investment vehicles.

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Mag Cap, or Magnolia Capital Advisors, LLC, has been an investment advisor in Mississippi since 2018. Its clients include a majority of individuals, with some high-net-worth individuals and pension plans rounding it out. The firm has millions in assets under management (AUM), and it doesn’t impose an account minimum. Mag Cap provides investment management, financial planning and consulting services to its clients. The firm doesn’t impose any sort of account minimum.

Mag Cap gives clients the choice between a percentage-based fee or a flat fee when it comes to portfolio management services. Percentage-based fees typically won’t exceed 2.00% of your AUM. For financial planning services, there’s no additional charge for clients who already receive portfolio management. Stand-alone financial planning clients will pay a fixed fee between $2,500 and $25,000.

Most of Mag Cap’s investment recommendations revolve around money market funds and other cash instruments, exchange-listed securities, mutual funds, exchange-traded funds (ETFs), closed-end fund shares, certificates of deposit (CDs), corporate debt securities, municipal securities, government securities, options, variable annuity products, private funds and private placements.

When analyzing potential funds to invest in, the firm looks at both the experience and track record of the fund manager, gauging if the manager has demonstrated an ability to invest over a while and in different economic conditions. Another important step is looking at the underlying assets in a fund to see if there is a significant overlap in the underlying investments held in other funds in the client's portfolio. This helps to promote in-depth diversification.

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Hardy Reed, LLC is a wealth advisory firm that’s been around for longer than a decade. The firm has more than 200 clients that combine to hold billions in investable assets. The majority of Hardy Reed’s clients are individuals, but it also works with high-net-worth individuals, pension plans, charitable organizations and corporations. This is a fee-only firm.

The firm provides investment management and financial planning services, and it occasionally offers consulting services as well. The firm doesn’t impose an account minimum, but it does charge a minimum annual fee of $10,000, which may make its services cost-prohibitive for clients with smaller accounts.

Portfolio management services come with a fee based on a percentage of your assets under management (AUM). This can reach as low as 0.30% and as high as 1.25%, depending on the value of your assets. Financial planning fees are negotiable but typically vary from a $1,000 to $10,000 fixed fee or a $250 hourly fee based on the scope of your services.

Hardy Reed strongly prefers to develop a comprehensive picture of each client’s financial life before beginning the investment process. It does this to ensure that it fully understands the client’s risk profile, investment objectives, tax situation and liquidity and income needs before making any purchases. Hardy Reed normally invests client assets in a combination of mutual funds and exchange-traded funds (ETFs). On a more limited basis, the firm may allocate assets to third-party managers.

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Financial Concepts is a firm with two advisors that’s been doing business in Columbus since 2011. It has hundreds of millions in assets under management (AUM) and works with individuals, high-net-worth individuals, pension plans and charitable organizations that comprise this client base.

Financial Concepts provides financial planning and individual portfolio management services. There is a $25,000 account minimum at this firm. Financial planning fees will typically come at a fixed rate, which can range from $1,000 to $5,000 depending on the scope of your services. Investment management fees will be 0.50% of your total AUM.

Financial Concepts typically invests client assets in a range of different mutual funds that represent a variety of asset classes. When analyzing potential funds, the firm employs fundamental analysis, looking at a fund’s financial statements and surrounding information in an attempt to gauge its intrinsic value.

The firm has a buy-and-hold investment strategy and makes recommendations for portfolio changes based on the client’s life circumstances rather than market fluctuations. It doesn’t believe that market timing can be a successful strategy, especially in the long term.

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Barnes Pettey Financial Advisors, LLC is headquartered in Clarksdale. The firm currently manages hundreds of millions in assets under management (AUM) from thousands of clients. The firm’s client base consists of individuals and high-net-worth individuals, pension plans, charitable organizations, government entities, corporations, trusts, estates and partnerships. The firm has a $25,000 account minimum.

For investment management services, the firm will charge a fee as a percentage of AUM ranging from 0.40% to 1.25%. Fees for the two investment programs administered by Raymond James are also percentage-based and range from 1.25% to 2.25%. Financial planning fees are charged either as a fixed fee between $750 and $3,000 or as a $200 hourly fee.

Barnes Pettey Financial Advisors primarily recommends mutual funds and exchange-traded funds (ETFs), but it will ultimately tailor its recommendations to fit each client’s objectives and risk tolerance. The firm takes into consideration each client’s investing timeline before formulating the appropriate strategy for their portfolio. Consequently, the firm doesn’t have a standard preference toward long- or short-term investing.

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Ballew Advisors, Inc. has been providing advisory services to clients in Jackson since 1991. The clients at the firm include individuals, high-net-worth individuals, pooled investment vehicles, charitable organizations and corporations.

Fees for investment management tend to fall between 1.00% and 2.00% of your assets under management (AUM), although the firm may decide to negotiate a different arrangement. Financial planning fees can vary depending on the degree of responsibility involved and the amount of skill and work required, so there is no standard rate or fee.

Ballew Advisors has a number of core beliefs upon which it bases its investment approach. It believes that the most important decision to be made is how to allocate your assets among cash, bonds, stocks, real estate and any other primary securities. Additionally, the firm thinks that diversification among asset classes is the best method for limiting risk and increasing returns.

The firm primarily invests with a long-term perspective, both to keep down trading costs and because a portfolio that diversifies across asset classes should increase in value over a long time.

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Element Wealth, LLC has been providing investment advice to clients in Ridgeland since 2006. Its clients are a combination of individuals, high-net-worth individuals, pension plans and charitable organizations. Element Wealth is a fee-based firm, and there is no minimum account size. The firm provides investment management to its clients, along with financial planning. Additionally, the firm occasionally acts as a sub-advisor for the clients of an independent advisory firm.

Fees for investment management services at the firm are charged as a percentage of client assets under management (AUM). The exact rate can vary from 0.40% to 1.00%, depending on the value of your assets, whether your assets are in an employer-sponsored retirement account or not and what asset classes make up your portfolio. Financial planning and other consulting services usually come with a $400 hourly fee.

Element Wealth prioritizes diversification across asset classes for each client portfolio. How much these portfolios are exposed to securities like equities, bonds, cash and alternative investments will depend on the client’s investment objectives, timeline and risk tolerance. The firm generally constructs smaller portfolios with a combination of mutual funds and exchange-traded funds (ETFs) and larger portfolios with individual stocks and ETFs. Some portfolios will feature all three of these investment types.

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Addicus Advisory is a fee-based firm that caters to a diverse clientele, including individuals, high-net-worth individuals, corporations, private funds, partnerships and limited liability companies. While there is no specified minimum investment requirement to start an advisory account, Addicus Advisory maintains the discretion to close accounts that do not maintain a sufficient balance for effective management.

The firm offers a comprehensive suite of services tailored to enhance financial stability and growth, including risk assessment and management, investment planning, financial organization, as well as assistance with financial decision-making and negotiation.

As a fee-based firm, there is the potential for a conflict of interest as the firm and its advisors can earn commissions for the sale of certain securities. However, they must abide by a fiduciary duty to put the needs of all clients first. 

The firm employs a strategic approach to investing that includes Fundamental Analysis and the use of Model Portfolios designed to accommodate various levels of risk tolerance. The firm tailors investment strategies to align with each client's specific needs, considering predefined objectives, risk tolerance, time horizon, financial information and liquidity needs of each client. Their typical investment selections include equity and corporate debt securities, commercial paper, exchange-traded funds (ETFs) and more.

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Mascagni Wealth Management is a fee-based firm working mostly with individuals who do not have a high net worth, though some high-net-worth investors are on the rolls, along with some corporations. Some advisors at the firm are also insurance agents and can earn commissions. This is a conflict of interest, but all advisors must still act in the best interest of the client. The minimum account size is $100,000.

Fees are fixed for financial planning and a wrap fee program is available for all services, based on a percentage of assets under management. 

The firm's security analysis methods include charting and fundamental analysis. The main sources of information  the firm uses are "financial newspapers and magazines, research materials prepared by others, corporate rating services and annual reports, prospectuses, and/or filings with the SEC."

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Legacy Wealth Management is an independent, fee-only RIA serving primarily individuals and high-net-worth individuals, plus a limited number of corporate retirement plans, foundations/endowments, and state/municipal entities. Services center on discretionary portfolio management coordinated with comprehensive financial planning (cash-flow, tax, retirement, education, estate and more).

Fees for “Wealth Management” (portfolio management plus planning) follow a tiered AUM schedule: 1.00% on the first $2 million, 0.50% on the next $3 million, and 0.40% over $5 million. 

Portfolio construction is goals- and risk-tolerance-driven. Advisors place clients into one of several asset-allocation models (guided by an Investment Committee), blend active and passive funds, and provide ongoing monitoring with quarterly performance reports. For income-focused clients, Legacy may implement separately managed individual bond portfolios via a specialized sub-adviser (including tax-loss harvesting and cash-flow targeting). The firm rebalances and makes changes as needed to keep allocations aligned with objectives.