Intro: Detailed Ranking & Review of Financial Synergies Wealth Advisors
Financial Synergies Wealth Advisors was recently ranked by AdvisoryHQ News as a top-rated financial advisory firm in Houston for the fifth year in a row.
In the sections below, we provide a detailed overview, including the key factors that enabled this firm to be ranked as one of the top financial advisors in Houston, Texas.
About AdvisoryHQ News
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AdvisoryHQ is an online news media that is committed to simplifying the research that consumers conduct before choosing a top provider. Our review articles are always 100% independently researched and written.
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Overview of Financial Synergies Wealth Advisors
Financial Synergies Wealth Advisors is an independent Registered Investment Advisor, wealth management firm, and financial advisor located in Houston, TX, that specializes in offering general financial planning, investment management, and retirement planning services to its clients.
Although the firm is based in Houston, Texas, Financial Synergies works with clients in different states and countries. It has developed an efficient strategy of keeping in touch with clients across the U.S. via:
- Virtual meeting (Skype or GoToMeeting)
- Highly secure online client vault to store and exchange sensitive financial documents
- 24-hour access to its Wealth360° program so clients can examine their financial plans and see their financial lives all in one snapshot
- The firm’s website is maintained weekly with blog updates, briefings, and announcements
About Mike Booker, Founding Shareholder
With a goal to provide unbiased, objective financial advice and investment management, Financial Synergies Wealth Advisors was founded in 1986 by Mike Booker.
As the founding shareholder, Mike continues to counsel clients on a diverse range of financial planning and investment management challenges, helping each client achieve their long-term goals and ultimately, simplify their lives.
His vast experience in the financial industry has won Mike an array of awards and recognition, including authorship of several chapters in highly respected financial books and a number of industry credentials:
- CFP®
- ChFC®
- CFS®
Image source: Financial Synergies Wealth Advisors
Clients Served & Overall Experience
As one of the top-rated financial advisors, Financial Synergies draws its clients from across a broad spectrum of the investment universe.
The firm’s client base ranges from younger investors with aggressive (high-growth/high-risk) appetite to older, more mature retirees and those close to retirement who seek portfolios that provide a steady stream of income.
With a key goal of simplifying the financial lives of its clients, Financial Synergies has operated for over 30 years and specializes in offering financial planning, investment management, and retirement planning services.
The firm’s proven track record is supported by the multi-generational relationships that clients continue to maintain with the firm. This means that clients of all types can benefit from the collective experiences of a team of highly seasoned financial advisors and planners.
Image source: Financial Synergies Wealth Advisors
Client Experience
For Financial Synergies, the client experience is a central part of any successful financial planning endeavor. As a top-rated firm in Houston, Financial Synergies places a high premium on maintaining positive, long-term relationships with clients.
To keep lines of communication open and to establish mutually beneficial relationships with each client, Financial Synergies uses the following meeting schedule:
- Meeting 1: Discovery—Discuss financial situation, goals, answer questions, and explore ways to add value
- Meeting 2: Financial Planning—Review assets and liabilities, identify planning needs, and discuss a roadmap for implementing your unique financial plan
- Meeting 3: Investment Strategy—Outline investment philosophies, evaluate risk tolerance, review investment plan, and deliver a policy statement
- Meeting 4: 45-Day Follow Up—Review status of asset transfers and financial plan, explain investment reports, and schedule the next meeting
These initial meetings are supplemented by semiannual meetings, quarterly updates, and continuous activities, including a weekly blog and commentary, daily portfolio monitoring, social and educational client events, and unlimited phone and email conversations with your advisor.
Recognitions & Accolades
Throughout the 30+ years that Financial Synergies Wealth Advisors has been in business, it has received numerous awards and recognitions from some of the financial industry’s most revered institutions, including:
- Top Wealth Management Firms in Houston, TX (2015-2018): by AdvisoryHQ
- Nation’s Top Financial Advisors: by Worth magazine (1996, 1997, 1998, 1999, 2001, 2002, and 2003)
- Top Wealth Managers: by Wealth Manager magazine (2005-2008)
- America’s Top Financial Planners: by Consumers’ Research Council of America (2006-2012)
- Five Star Wealth Managers – Best in Client Satisfaction: by Texas Monthly magazine (September 2009)
- Ten Most Dependable Wealth Managers of Texas: by Goldline Research (featured in Texas Monthly and Forbes’ magazines 2006-2012)
- The Up-And-Comers: by InvestmentNews magazine (May 2010)
Independent, Fee-Only Structure
Financial Synergies Wealth Advisors is an independent Houston financial advisor with no commission-based affiliations to any financial institution or wealth management business. Due to this level of independence, the firm’s advisors are able to deliver unbiased, conflict of interest-free advice to their clients.
Most importantly when you become a part of the Financial Synergies family, the relationship centers around you.
Financial Synergies strives to ensure that, from your first year as a client and beyond, it delivers a truly superior client experience.
Since the firm is not owned by a broker-dealer, major financial firm or financial product vendor, the company relies solely on advisory revenue generated through client engagements.
As a fee-only financial advisor in Houston, Financial Synergies Wealth Advisors is able to deliver true value to its clients by placing their interests above all others.
Financial Synergies Wealth Advisors’ fee-only structure gives it the freedom to develop objective financial planning and investment strategies for its clients without outside influence.
As RIAs, the company is subject to the provisions of the Investment Advisers Act of 1940, which mandates a fiduciary duty to its clients. Simply put, this means that the firm is legally and professionally bound to put a client’s interest above those of the firm or its individual advisors.
Fee Options
As a dynamic fee-only financial advisor and investment manager, Financial Synergies offers its clients the below fee options:
- Asset-based fee
- 401(k) advised account fee
Where applicable, clients may also qualify for certain fee discounts based on the current value of their portfolios.
Experienced Team of Certified Financial Planners (CFPs)
The firm’s advisors carry the Certified Financial Planner (CFP™) designation, which is proof of an individual’s demonstrated skill, education, and ability to deliver advice to the highest professional standards within the financial industry.
The CFP™ Board independently enforces these standards across the industry.
Financial Synergies Wealth Advisors has a dedicated Client Service Team to ensure that it maintains a strategy of going above and beyond for its clients.
Please click on the individual biographies below to learn more about Financial Synergies Wealth Advisors team members, their roles, and responsibilities.
Image source: Financial Synergies Wealth Advisors
Total Wealth Management
For Financial Synergies, truly effective wealth management comes from implementing comprehensive investment management and financial planning.
As such, Total Wealth Management integrates all aspects of a client’s financial life to provide a holistic approach to establishing solid, long-term financial health. This also includes a strong emphasis on helping clients simplify their lives through coordination with financial experts like CPAs, insurance agents, and tax attorneys.
See below for a detailed overview of what comprehensive investment management and financial planning entails.
Financial Planning
Integral to the financial planning process at Financial Synergies is an in-depth conversation with each client to evaluate their current financial situation and their goals.
With the help of a Certified Financial Planner™ professional, clients can address a diverse range of financial challenges, including:
- Retirement
- Investments
- Asset Allocation
- Charitable Giving
- Estate Planning
- Social Security
- Medicare
- Cash Flow Analysis
- Taxes
- Insurance
- Asset Protection
- College Education
- Employer Benefits
- Sale of Business
- Major Purchases
- Budgeting
Image source: Financial Synergies Wealth Advisors
Investment Management
With a philosophy based on decades of financial research and analysis, Financial Synergies helps clients avoid emotionally charged decisions that can often hinder a portfolio’s progress.
Portfolios are monitored daily to ensure that financial goals are performing according to long-term plans, while clients are kept informed at every step to instill confidence in each financial decision they make.
Ultimately, the investment management experience is based on the following principles:
- Embrace market pricing
- Practice smart diversification
- Don’t try to outguess the market
- Avoid market timing
- Resist chasing past performance
- Manage your emotions
- Let markets work for you
- Look beyond the headlines
- Target the proven drivers of returns
- Focus on what you can control
With ETFs as the core foundation for all portfolios, clients can benefit from broad diversification, low costs, tax-efficiency, and minimal trading.
Pathway® Program
For clients in the beginning stages of wealth-building, Financial Synergies has creating the Pathway® program, built to provide a customized savings and investment strategy.
Clients can take advantage of advanced technology to get a full picture of their financial health, receive ongoing advice from a Certified Financial Planner™, and watch their customized investment portfolio grow.
There are two elements to the Pathway® program: personal financial planning and investment management. Personal financial planning will help clients:
- Develop good saving and investing habits
- Create realistic budgets
- Develop college education plans
- Analyze appropriate life insurance needs
- Maximize employer benefits
- Organize core estate plans
- Maintain ongoing financial planning
Investment management is designed to provide clients with the following benefits:
- Globally diversified investment portfolios
- Ongoing monitoring and management
- Disciplined portfolio rebalancing
- Tax-loss harvesting
- Low cost, commission-free ETFs
- Ongoing investment research and analysis
- Comprehensive performance reporting
For clients that are hiring a Houston financial planner for the first time, the Pathway® program is a great way to establish and work towards financial goals without employing full-scale wealth management services.
The Retirement Salary Program®
Effectively planning for retirement is a core component of any successful long-term financial plan, which is why Financial Synergies created The Retirement Salary Program®.
This methodology provides steady income, continued investment growth, flexibility, and fluidity through addressing two core components:
- Salary—Consisting of cash and cash alternatives, retirees have the benefit of direct deposits into their bank account for a reliable stream of income. The salary component coordinates with other forms of income, like Social Security, pension, and royalty income.
- Growth—Portfolios are diversified to outpace inflation through multiple asset classes, and are designed to match goals, risk tolerance, and income needs. Combined with salary, these profits create a consistent income stream in retirement.
The two-pronged approach of The Retirement Salary Program® continues to provide security and financial balance for retirees, offering an ideal solution to common challenges like inflation, market downturns, taxes, unexpected expenses, and outliving your money in retirement.
Additional Resources
With a commitment to simplifying the lives of each and every client, Financial Synergies Wealth Advisors provides a wealth of educational resources, enabling clients to improve their financial literacy in a variety of ways. These include:
- Blog posts
- Articles and recent financial news
- Quarterly firm newsletters
- Videos on financial topics and about the firm
Clients also have online access to a wide variety of financial tools and reports, including quarterly and net worth statements, account performance reports, spending and budgeting tools, cash flow reports, direct messaging with an advisor, and more.
Contact Information | Financial Synergies Wealth Advisors
4400 Post Oak Pkwy
Suite 200
Houston, TX 77027
Phone: (713) 623-6600
Email: [email protected]
Office Hours: Weekdays (8:00 a.m. – 5:00 p.m.)
Is Financial Synergies the right fit for you? Click here to fill out a web form. You’ll receive an email from a Financial Synergies financial advisor to schedule your free initial consultation. There is no obligation; this objective is just to determine if or confirm that you and Financial Synergies are a good match.
If you have any questions about the contents of the firm’s Form ADV, please contact Mike Minter at 713-623-6600 or [email protected] Please note that the information in the Form ADV brochure has not been approved or verified by the United States Securities and Exchange Commission or by any state securities authority.
Firm Disclosure | Financial Synergies Wealth Advisors
While Financial Synergies believes the above information to be accurate and reliable, it does not claim or have responsibility for its completeness, accuracy or reliability. Any statements provided by Financial Synergies regarding future expectations, estimates, projections, and other forward-looking statements are based on available information and Financial Synergies’ views as of the time of these statements.
Accordingly, such statements are inherently speculative as they are based on assumptions that may involve known and unknown risks and uncertainties. Actual results, performance or events may differ materially from those expressed or implied in such statements. Investing in equity securities involves risks, including the potential loss of principal. While equities may offer the potential for greater long-term growth than most debt securities, they generally have higher volatility. International investments may involve risk of capital loss from unfavorable fluctuation in currency values, from differences in generally accepted accounting principles or from economic or political instability in other nations. Past performance is not indicative of future results.
None of the material contained above or on Financial Synergies’ website (http://www.finsyn.com/) is intended as a solicitation or offer to purchase or sell a specific mutual fund or any other investment. There are no warranties, expressed or implied, as to accuracy, completeness or results obtained from content posted on this or any linked website.
Readers should consult with appropriate advisors before making investment decisions.
For more information, click here: Financial Synergies’ Disclosure.
AdvisoryHQ’s Objective Standards & Our Personalized Page Service
This Financial Synergies Wealth Advisors review was independently conducted by AdvisoryHQ.
Our focus is on the everyday consumer. All of our research and publications are conducted from the end-user consumer’s perspective, and we publish our top-ranking reviews for anyone to view for free.
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