United Capital Financial Advisors
Headquartered in Irving, Texas, United Capital Financial Advisors provides a national client base with wealth management, investment management and retirement services. The firm, which was previously owned by Goldman Sachs, manages billions in client assets.
As a fee-based advisor, United Capital representatives may earn commissions or other compensation for selling or recommending certain products and services to clients, in addition to the advisory fees that clients pay. This is different from a fee-only firm, whose revenue comes solely from client-paid fees, not third-party commissions.
United Capital Financial Advisors Background
United Capital has been offering its services as a registered investment advisor (RIA) since 2005. The firm was previously known as Goldman Sachs Personal Financial Management when it was owned by the investment bank, who acquired it from founder Joe Duran. But in November 2023, the firm was sold once again, this time to Creative Planning Holdco, LLC. It has since returned to doing business as United Captial Financial Advisors.
Today, United Capital is helmed by president James Rivers and chief invesmtent officer Frank Salb, a chartered financial analyst (CFA).
United Capital Financial Advisors Client Types and Minimum Account Sizes
United Capital has a large pool of clients, the majority of whom are individuals below the high-net-worth threshold. The firm also works with thousands of high-net-worth individuals, as well as pension and profit-sharing plans, charitable organization, other investment advisors, corporations and other business entities.
The firm generally works with clients who have at least $500,000 in household assets. Institutional clients are required to have $2 million in assets under management (AUM).
Services Offered by United Capital Financial Advisors
United Capital Financial Advisors offers a wide range of financial planning and investment management services tailored to clients' individual needs. Their financial planning services involve creating personalized plans that assess goals, risk tolerance, retirement needs, cash flow and investment strategies. These plans are regularly reviewed and updated to reflect any changes in a client's financial situation. While United Capital provides guidance on investment strategies, they do not offer tax advice and recommend clients consult with tax advisors for comprehensive tax planning.
In their investment management services, United Capital acts as a fiduciary, developing customized investment strategies based on each client’s risk tolerance and objectives. This includes selecting appropriate asset allocations and investment vehicles, such as mutual funds, ETFs and other securities. United Capital may also employ sub-advisory services, where third-party managers oversee specific investments.
They manage both discretionary and non-discretionary accounts, including IRAs, 401(a) plans, and other ERISA-regulated pension plans, ensuring that client interests are prioritized. Additionally, United Capital offers consulting and educational services to plan sponsors and provides investment advice on 529 Plans, helping clients navigate these accounts while charging associated advisory fees.
United Capital Financial Advisors Investment Philosophy
United Capital employs a diversified investment strategy tailored to each client's unique financial goals and preferences. Their approach involves managing advisory accounts through various asset classes, utilizing both internal and external products, such as mutual funds and ETFs. Advisors rely on strategic and tactical models, adjusting portfolios based on economic indicators and client needs. United Capital also incorporates tax management strategies, including tax loss harvesting, though these efforts may impact portfolio performance.
An investment policy committee regularly reviews market conditions to guide asset allocation models. While United Capital provides recommendations for retirement accounts and legacy managers, clients retain ultimate decision-making authority regarding these investments.
Fees Under United Capital Financial Advisors
For financial planning services, United Capital typically charges between $2,500 and $55,000 per year for its Financial Guidance offering, which typically includes a goals assessment, retirement, cash flow, cash management, investment and insurance planning.
Investment advisory fees are usually charged as a percentage of AUM. These fees will not exceed 1.50% of a client's AUM and typically follow this schedule:
| Market Value of Portfolio | AUM Fee |
| $0 - $500,000 | 1.50% |
| $500,000 - $1 million | 1.25% |
| $1 million - $3 million | 1.00% |
| $3 million - $5 million | 0.75% |
| $5 million - $10 million | 0.65% |
| Over $10 million | 0.55% |
What to Watch Out For
United Capital does not have any disclosures of legal, civil or regulatory violations on its Form ADV.
But as mentioned earlier, United Capital is a fee-based firm. Advisors on staff may earn third-party compensation when recommending certain products and services, which consititutes is a conflict of interest. It's always prudent to ask which role the advisor is acting in when they make a recommendation: as your advisor or as a salesperson. However, United Capital is a fiduciary, which means it must act in your best interests.
Tips for Finding the Right Financial Advisor
- Finding a financial advisor doesn't need to be hard. SmartAsset’s free tool matches you with up to three vetted financial advisors who serve your area, and you can have a free introductory call with your advisor matches to decide which one you feel is right for you. If you’re ready to find an advisor who can help you achieve your financial goals, get started now.
- Ask prospective advisors how much liability insurance they have. The right answer should cover how much you plan on putting in the advisor’s hands. So if they say $25,000 per incident and you have $50,000 to invest, that’s not enough coverage.
All information was accurate as of the writing of this article.
