The Top Financial Advisors in Louisiana

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With the most assets under management on our list, Waters, Parkerson & Co., LLC is the state’s highest-rated firm according to our metrics. The firm mainly works with individual investors, both with and without high net worths, but its clients also include pensions and profit-sharing plans, trusts, estates and charitable organizations. There is no minimum account size, but the firm does charge a minimum annual fee of $10,000.  

As a fee-only advisor, Waters, Parkerson & Co. does not earn commissions or other forms of hidden compensation. Its small advisory team includes one chartered financial analyst (CFA) and one certified financial planner (CFP).

Waters, Parkerson & Co., LLC Background

By far the oldest firm on our list, Waters, Parkerson & Co. was founded in 1933 by Arthur Waters and Godfrey R. Parkerson. Today, the firm is principally owned by David Pointer, Michael Whealdon, J. Baldwin Montgomery and Devin Wakeman. Montgomery and Wakeman serve as the firm’s managing partners. The firm focuses solely on financial planning and portfolio management. 

Waters, Parkerson & Co., LLC Investment Strategy

Waters, Parkerson & Co.’s investment strategy typically relies on both long-term and short-term purchases. The firm uses fundamental analysis to examine present and historical data, and make financial forecasts.  

The firm bills its investment philosophy as “conservative” with a focus on diversifying clients’ assets and preserving capital. “Through an active portfolio management process, our advisors use a disciplined, long-term, unemotional and independent investment approach to develop personalized and tax-efficient investment portfolios,” the firm’s website states. 

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The top-rated financial advisory firm in Louisiana, TruWealth Advisors, LLC primarily works with individual investors, both with and without high net worths. Clients also include trusts, estates, charitable organizations, insurance companies and corporations. TruWealth is considered a fee-based firm, as some of its representatives can earn commissions on certain transactions. However, the firm maintains a fiduciary responsibility to act in clients’ best interests despite this potential conflict on interest. 

TruWealth does not have a minimum account size. It’s advisory team has earned certifications including accredited portfolio management advisor, chartered retirement planning counselor (CRPC), certified financial planner (CFP) and other accredited professionals.

TruWealth Advisors, LLC Background

Founded in 2020 by Charles Simmons, TruWealth is the newest firm on our list but has the largest client list. Its headquarters are located in Metairie, but the firm also has offices in Downtown New Orleans and Mandeville. Simmons and Christy Neal Simmons principally own the firm, which manages client assets on a discretionary basis. The firm focuses its services on financial planning, investment management and retirement plan consulting. 

TruWealth Advisors, LLC Investment Strategy

TruWealth’s investment strategy is “long-term in nature, based on research, principles and experience rather than short-term trends,” according to the firm’s Form ADV brochure. The firm relies on asset allocation strategies to optimize a portfolio’s risk and reward. 

TruWealth uses several types of analysis in generating an investment plan for clients, including top-down and macroeconomic analysis, fundamental analysis and technical analysis. The firm typically allocates client assets among mutual funds, exchange-traded funds (ETFs), exchange-traded notes, debt and equity securities. Portfolios are designed with a client’s risk tolerance, financial objectives and time horizon all in mind. 

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Stokes Family Office LLC is a fee-based advisory firm located in New Orleans.  Stokes Family Office primarily works with individual investors -- both with and without high net worths -- as well as pensions and profit-sharing plans, charitable organizations and corporations. Clients must have at $1 million in investable assets to open an maintain an account.

Because certain members of the staff are licensed insurance agents and may earn commissions on products sold to clients, SFO is considered a fee-only advisor. Despite this potential conflict of interest, the firm is a fiduciary and is obligated to act in a clients' best interests. 

The firm’s advisory team comprises five certified financial planners (CFPs) and one chartered financial analyst. 

Stokes Family Office LLC Background

Founded in 2019, the firm offers clients wealth management services, retirement planning, and family office services. David Stokes and his two sons, Gregory and Douglas Stokes, own the firm through their respective holding companies. 

SFO manages client assets on both a discretionary and non-discretionary basis, meaning some clients give their advisor full control over investment choices without having to consult them first, while others want to be contacted before decisions are made.

Stokes Family Office LLC Investment Strategy

SFO typically invests client assets in mutual funds, ETFs, exchange-traded notes, as well as individual debt and equity securities and options. Some clients may have access to private investment funds through SFO.

The firm’s investment strategy is long-term in nature and relies on research and experience instead of short-term market trends. SFO employs asset allocation strategies to diversify client portfolios, but customizes a portfolio to the client’s specific needs.  

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Summit Financial Wealth Advisors, a fee-based firm, is the fourth-highest-rated advisor on our list. The firm’s advisory staff includes one certified financial planner (CFP), two chartered retirement planning counselors (CRPCs) and other accredited professionals spread out across offices in Lafayette, Monroe, Shreveport and Ruston.

Summit Financial mainly works with individual investors, including high-net-worth individuals. The firm, which has a $50,000 minimum account balance, also counts pensions, profit-sharing plans, trusts, estates, charitable organizations and corporations among its clients. 

Summit Financial is classified as fee-based because several employees are insurance agents or representatives of a broker/dealer. As a result, they can earn commissions by selling certain products or services to clients. Despite this potential conflict of interest, Summit Financial is a fiduciary and obligated to act in its clients’ best interests. 

Summit Financial Wealth Advisors Background

The firm’s forerunner, Summit Financial of Louisiana, Inc., was founded in 2010. Today, Summit Financial is wholly owned by subsidiaries of Focus Financial Partners Inc., a publicly traded company on the Nasdaq Global Select Market. Summit Financial is managed by David Daniel, Todd Lambert, Michael Pharr and Suzette Broussard. 

The firm, which manages accounts on a discretionary and non-discretionary basis, offers clients the following services: 

• Financial planning
• Portfolio management
• Pension consulting
• Advisor selection
• Business consulting
• Credit and cash management solutions

Summit Financial Wealth Advisors Investment Strategy

Summit Financial invests client assets in individual equity securities, equity and fixed income mutual funds, ETFs and individual bonds. The firm also has an investment committee that meets around four times a year. The committee also selects the contents of the firm’s asset allocation models. 

The firm uses a variety of investment strategies and methods of analysis to research securities and manage portfolios. Charting, fundamental analysis, technical analysis, cyclical analysis all may factor into the investment advice given to clients. 

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Located in Monroe, Argent Advisors, Inc. is a fee-based firm that works with individual investors, pensions, profit-sharing plans, trusts, estates, charitable organizations and corporations. Argent’s team of advisors includes two certified financial planners (CFPs) and a chartered financial analyst.  

The firm does not have an account minimum. Clients may pay advisors commissions when purchasing certain investment products, as several employees are also representatives of a broker/dealer and licensed to sell insurance. While this qualifies Argent Advisors as a fee-based firm, Argent Advisors maintains a fiduciary responsibility to act in its clients’ best interests. 

Argent Advisors, Inc. Background

The firm was founded in 1996 by Dean Mailhes and is wholly owned by Argent Financial Group, which operates subsidiaries in 14 states. Mailhes, who still serves as president of Argent Advisors, has over three decades of experience in financial planning and investment management. 

The firm offers clients financial planning, portfolio management and pension consulting services. Argent is also registered with the SEC and Municipal Securities Rulemaking Board as a municipal advisor. 

Argent Advisors, Inc. Investment Strategy

Argent Advisors may use several methods of analysis to evaluate securities and choose investments, including charting, fundamental analysis, technical analysis and cyclical analysis. While the firm’s investment strategies may be tailored to an individual client's needs, the firm may hold assets in a client portfolio for more than a year (long-term purchases), less than a year (short-term purchases) and engage in trading (hold assets for under 30 days).

“Once set, we will test a client's financial plan using dozens of market variables to ensure the greatest probability of success with the lowest possible risk,” the firm states on its website. 

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BCM Advisors, LLC is a fee-only advisory firm located in Layafette whose clients include individual investors, pensions and profit-sharing plans. The majority of the firm's assets under management are owned by high-net-worth individuals and corporations. 

BCM's minimum account size for portfolio management is $250,000 and $500,000 for financial planning. Its advisory team includes two certified financial planners (CFPs), one chartered financial analyst (CFA) and one certified public accountant (CPA). As a fee-only firm, BCM advisors do not receive transaction-based compensation. 

BCM Advisors, LLC Background

Founded in 1987, BMC Advisors is one of the longest-tenured firms on our list. Joseph Billeaud, the firm’s chief investment officer, is the majority owner of BCM through his sole ownership of JSB Investment Holdings, Inc. Director of advisor services George Holland, chief compliance officer Hille Domingue and Montgomery Gossen are all minority owners of BCM. 

BCM primarily focuses on financial planning and portfolio management. Advisory accounts are managed on a discretionary basis.

BCM Advisors, LLC Investment Strategy

BCM offers a variety of investment portfolios based on the strategy of investing in stocks, bonds, precious metals and cash. BCM actively manages its portfolios using its proprietary Market Risk Model, which factors in current financial, economic and monetary data to assess market risks. 

“BCM’s approach within the Portfolios is to invest in broad-based asset classes rather than in individual securities," the firm states in its Form ADV brochure. "An asset class approach can be realized by owning indexed mutual funds or ETFs that reflect the composition and risk profile of the target asset class."

BCM evaluates individual mutual funds and ETFs based on their managers’ track record of investing through different economic conditions, as well as their underlying assets. 

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The only Baton Rouge-based firm on our list, The Shobe Financial Group is a fee-based advisor that primarily serves individual investors, including high-net-worth clients. The firm also works with limited liability companies and a law enforcement association. Clients need at least $50,000 in investable assets to open an account.

The firm has eight certified financial planners (CFPs) on staff, as well as two chartered life underwriters (CLUs) two accredited investment fiduciaries (AIFs) and one chartered retirement plans specialist (CRPS). The Shobe Financial Group’s advisors are all registered representatives of a broker/dealer and licensed to sell insurance. As a result, they can earn commissions on certain transactions, making The Shobe Financial Group a fee-based firm. It’s important to note the firm has a fiduciary responsibility to act in clients’ best interests.

The Shobe Financial Group Background

Edward Shobe established the firm in 1983 and remains its chairman of the board and principal owner. His son-in-law Jason Peter Windham serves as the firm’s president and minority owner, while his daughter, Susan Shobe Windham, serves as vice president and minority owner. The firm is also known as Shobe & Associates, Inc.

The Shobe Financial Group offers clients: 

• Financial planning
• Portfolio management
• Pension consulting services
• Selection of other advisors
• Business consulting

The Shobe Financial Group Investment Strategy

Investment advice and strategies can vary from client to client, but the firm’s primary approach is building diversified portfolios using individual securities, ETFs, as well as both open- and closed-end mutual funds.

The Shobe Financial Group may also utilize both long- and short-term purchases, margins transactions, options writing and dollar cost averaging. The firm derives most of its information from financial news outlets, research materials, corporate rating services, SEC filings, prospectuses, and company press releases. 

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Cullen Asset Management, a fee-based advisor in Lafayette, is the state’s eighth-highest financial advisory firm, according to our metrics. CAM mainly serves individual investors -- with and without high net worths -- but also works with pensions, profit-sharing plans, trusts, estates, charitable organizations and corporations.The firm generally has a $500,000 minimum for new accounts. 

Since its advisors are registered representatives of a broker/dealer and can earn commissions on certain transactions, CAM is considered a fee-based firm. However, it has a fiduciary responsibility to act in its clients' best interests. The firm’s advisory team includes one certified financial planner.

Cullen Asset Management Background

CAM is the advisory division of Cullen Investment Group, a broker/dealer founded in 1987. David Bordes is the president and founder of Cullen Investment Group and CAM. Stephen Nickel, vice president of the firm, became a part owner in 2017. CAM offers clients financial planning and portfolio management.

Cullen Asset Management Investment Strategy

The firm’s investment philosophy, which it calls basic value strategy, is mainly based on fundamental analysis. CAM typically invests in individual stocks and bonds, including companies with “attractive” business models, strong finances and solid management. This long-term strategy results in accounts being diversified with between 20 and 40 companies. CAM also avoids trading and does not believe in “timing the market.” 

“This value approach pervades all aspects of our business and is applied not only to the selection of individual stocks and bonds, but also to our efforts in choosing and recommending open-end and closed-end funds where appropriate, and any other investment vehicles,” the firm states in its Form ADV brochure. 

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Fee-based firm Paradiem works with individuals, including both high-net-worth clients and non-high-net-worth investors. There are also institutional clients at the firm, namely pooled investment vehicles, retirement plans and charitable organizations.

Investment management firms are based on percentage under management, and some advisors may earn commissions for selling insurance. There are also hourly fees for financial planning and consulting services.

There is no minimum account size, but there is an initial consulting fee of $3,000 and a minimum investment management fee of $4,000.

Paradiem Background

Paradiem was founded in 2011 and is a wholly owned subsidiary of Paradiem Holding Company.

Services offered by the firm include consulting, business planning, investment management, and financial planning.

Paradiem Investment Strategy

Fundamental analysis is the main method the advisors at Paradiem use to make investment choices. Both short- and long-term purchases are employed, and a strategy will be tailored to the specific needs of a client.

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FPL Capital Management, LLC rounds out our list of the top financial advisors in Louisiana. With a $500,000 account minimum, this fee-only firm primarily serves high-net-worth individuals. Its clients also include pensions, profit-sharing plans, corporations and individual investors. FPL Capital Management features the smallest advisory team of the 10 firms on our list but it ranks seventh in assets under management. 

As a fee-only firm, FPL Capital Management advisors do not earn commissions or other hidden forms of compensation. And instead of an advisory fee based on a percentage of client assets, the firm charges a range of flat fees for its services. 

FPL Capital Management, LLC Background

Michael George founded FPL Capital Management in 2000 and continues to serve as its principal owner, president and senior portfolio manager. George carries more than 20 years of experience working in the financial services industry. 

Services offered to clients include:

• Wealth management
• Portfolio management
• Pension consulting services 
• Selection of other advisors

FPL Capital Management, LLC Investment Strategy

FPL Capital Management employs a passive investment strategy geared toward keeping client expenses down but portfolio returns up. The firm uses fundamental analysis to evaluate securities and analyzes mutual funds and ETFs based on investment objectives, past performance, underlying assets and manager tenure. 

“By holding an array of equity asset classes across domestic, international, and emerging markets, investors can reduce the impact of underperformance in a single market or region of the world,” the firm states in its Form ADV brochure. “Although markets may experience varying levels of return correlation, this diversification can further reduce volatility in a portfolio, which translates into higher compounded returns over time.”