Goodman Financial

What Goodman Financial does

Goodman Financial Corporation is a Houston-based, 100% employee-owned registered investment advisor founded in 1989 by Steve Goodman, CPA, CFP. Operating as a fee-only fiduciary, the firm delivers tax-efficient investment management and comprehensive financial planning to high-net-worth individuals and families, retirees, business owners, executives, professionals, and nonprofit/institutional clients across 16 states. Core offerings include Investment Management — built around custom portfolios of individual stocks and bonds selected by an in-house Investment Committee — and a Financial Planning suite spanning Retirement, Tax, Estate, Risk, Cash/Debt, and Investment planning. A separate Next Generation program serves emerging wealth-builders, and an institutional practice serves nonprofits, foundations, endowments, and retirement plans.

The firm operates a 23-person team holding 170 cumulative professional designations (CPA, CFP, CFA), with a CPA-driven investment process that integrates tax-loss harvesting, asset-location optimization, and Roth conversion analysis into portfolio construction. Client assets are custodied at Fidelity Investments and Charles Schwab, and reporting runs through a client portal at bdreporting.com; there is no proprietary trading or back-office technology, and the firm is not a software or AI-driven platform. The competitive position rests on human expertise, CPA-led tax integration, and an internal Investment Committee rather than on technology differentiation.

The business model is straightforward recurring revenue: tiered AUM-based annual fees billed quarterly in advance (1.25% on assets under $2M, declining to 0.65% above $20M), with a $1M standard investable-asset minimum and a $5,000 annual minimum for the Next Generation program. As of December 31, 2025, the firm reported $916M in AUM, 250+ client relationships, and a 97% average annual client retention rate. Go-to-market is primarily direct-advisory with team-based coverage, supplemented by a structured CPA referral pipeline via TXCPA Houston and state-level TXCPA partnerships.

Name

Goodman Financial

Legal name

Goodman Financial Corporation

Website

https://goodmanfinancial.com

Company type

Private

Founded year

1989

Operating status

Operating

Headcount range

11–50 employees

Short description

Houston-based, 100% employee-owned fee-only fiduciary RIA founded in 1989, serving 250+ high-net-worth individuals, families, and institutions across 16 states with tax-efficient investment management and comprehensive financial planning on approximately $916M in AUM.

Ownership category

akta.pro rank

Headquarters

HQ city

Houston

HQ country

United States

HQ region

North America

Offices1 record

Markets served

GTM type

B2C

Offering type

Services

Cost components

Personnel, Operations, Marketing or Sales, Technology or R&D, Infrastructure

Revenue model

1. Assets Under Management (AUM) Fees: Annual fee based on investment account balances managed. Fees are divided by four and billed quarterly in advance. Fee schedule ranges from 1.25% for portfolios under $2M to 0.65% for portfolios $20M and over. As a fee-only firm, compensation comes solely from client fees with no commissions from third parties.

Pricing tiers

Go-to-market motion2 records

Distribution channels3 records

Marketing channels5 records

Core offering

Goodman Financial is a fee-only, fiduciary wealth management and financial planning firm that builds customized portfolios of individual stocks and bonds and delivers comprehensive financial planning covering retirement, tax, estate, risk, investment, and cash/debt management. The firm serves high-net-worth individuals, families, business owners, executives, institutions, and emerging professionals, supported by an in-house Investment Committee and an employee-owned, CPA-driven advisory approach. All client assets are custodied at Fidelity Investments and Charles Schwab.

Product overview

Goodman Financial is a fee-only, fiduciary wealth management firm offering a unified platform of financial advisory services. The core offering combines Investment Management (using individual stocks and bonds with a focus on tax efficiency) with comprehensive Financial Planning. Financial Planning encompasses sub-services for Retirement Planning, Tax Planning, Estate Planning, Risk Management, Cash and Debt Management, and Investment Planning. The firm also serves institutional clients and offers a specialized Next Generation program for emerging professionals. All services are provided with a team-based, CPA-driven approach centered on tax efficiency.

Differentiator

Problem solved

Functional benefit

Products and services

• Investment Management Customized portfolio management using individual stocks and bonds, tailored to client goals while optimizing tax efficiency. Includes equity investing (diversified mix of growth and value stocks) and fixed income investing (investment-grade corporate bonds with laddered maturities). Stock selection is overseen by the firm's internal Investment Committee and Chief Investment Officer.
• Financial Planning Comprehensive, holistic financial planning covering retirement planning, cash and debt management, risk management, investment planning, tax planning, and estate planning. Designed to help clients achieve short- and long-term goals in a tax-efficient way, integrated with investment management.
• For Institutions Investment management services for nonprofit organizations, foundations, endowments, retirement plans, and associations. Includes Investment Policy Statement development, custom portfolio management, and fiduciary oversight support.
• Next Generation Financial planning and wealth management services for emerging professionals and wealth-builders in the accumulation phase, including retirement planning, investment management, tax strategies, and estate planning for young families.

Quantifiable outcome

• 97% average annual client retention rate
• +3 more outcomes

Named customers7 records

Segments6 records

Ideal customer profiles3 records

Technology focussed No

API detail

Has API

No

API docs

API detail

Core technology

AI maturity

App detail

Integration1 record

Feature3 records

Partnerships

Seven partnerships are on record, tiered core, major and minor.

• Fidelity InvestmentscoreTechnology or IntegrationTrusted custodian partner providing secure custody, trade execution, and comprehensive account services for client investment accounts. Client assets are held in accounts in the client's name at Fidelity, ensuring transparency and security.
• Charles Schwab & Co., Inc.coreTechnology or IntegrationTrusted custodian partner providing secure custody, trade execution, and comprehensive account services. Assets held in client names at Schwab ensure transparency, security, and peace of mind.
• TXCPA HoustonmajorStrategic or Co-development PartnerCoordinates CPE (Continuing Professional Education) courses for CPAs in Houston. Goodman Financial team members actively serve on TXCPA Houston board and committees.
• TXCPA (Texas Society of Certified Public Accountants)majorStrategic or Co-development PartnerState-level CPA professional organization. Goodman Financial team members participate in leadership roles including board positions and committee involvement.
• NAPFA (National Association of Personal Financial Advisors)minorOthersNAPFA membership indicates adherence to fee-only fiduciary standards and high ethical standards in financial planning.
• University of Houston Alumni AssociationminorGTM or Marketing PartnerCorporate sponsor/partnership with UH Alumni Association. Goodman Financial founder Steve Goodman is a Life Member and serves on UH Board of Visitors.
• Houston Sports & Social ClubminorGTM or Marketing PartnerCommunity sponsorship showing commitment to Houston community engagement and local events.

Scale indicators4 records

Recent moves7 records

Expansion highlights5 records

Direct peers

• Aspiriant: Fee-only wealth management firm serving HNW individuals and families with comprehensive financial planning, tax, and estate services. Closely comparable in size, service philosophy, and CPA-influenced planning approach.
• Cerity Partners: Fee-only wealth management firm offering investment management, tax planning, and estate services to HNW individuals, families, and institutions. Comparable in fee-only fiduciary structure and breadth of integrated planning services.
• Bessemer Trust: Privately-held wealth management and investment advisory firm specializing in UHNW and HNW families. Comparable in personalized, fee-only fiduciary model and integration of investment management with multi-generational planning.
• Wealth Enhancement Group: Independent wealth management firm providing financial planning, investment management, and tax services to HNW individuals. Similar team-based, fee-based RIA model with comparable target client profile.
• SageView Advisory Group: Independent RIA providing retirement plan consulting, investment advisory, and wealth management. Comparable fee-based fiduciary model with similar emphasis on personalized financial planning for individuals and institutions.
• Edelman Financial Engines: One of the largest independent, fee-only RIAs in the U.S., offering investment management and financial planning with similar fiduciary, fee-only structure. Comparable in service breadth and HNW targeting, though materially larger in AUM and headcount.
• Mariner Wealth Advisors: Independent RIA offering comprehensive wealth management, tax planning, estate planning, and institutional services. Closely mirrors Goodman's fee-based, team-driven service model across HNW individuals, families, and institutions.

Broad incumbents

• Fisher Investments: Large fee-only investment manager primarily serving HNW and institutional clients. Operates in the same fiduciary, fee-based RIA category as Goodman, though at significantly greater AUM scale and more centralized investment process.
• Bank of America Private Bank / Merrill Lynch Wealth Management: Bank-affiliated wealth management franchise serving HNW and UHNW clients with investment management and financial planning. Overlaps Goodman's HNW target market but operates at vastly greater scale and with deposit/banking integration.

Regional players

• Geneva Capital Group: Houston-headquartered wealth management firm providing investment advisory and financial planning services. Highly relevant regional comparable given shared Houston market, fee-based RIA model, and similar HNW client profile.

Market position

Strengths1 record

Weaknesses1 record

Competitive moat5 records

Key risks2 records

Key highlights7 records

Customer concentration

• LinkedInlinkedin.com/company/goodman-financial-corporation

Revenue estimate

Valuation estimate

Number of profiles

Profiles7 records

Funding overview

Funding rounds

Investors

Funding detail is available on the Subscription and Enterprise plan.Contact sales →

M&A

Investments

M&A and investment is available on the Subscription and Enterprise plan.Contact sales →

Frequently asked questions about Goodman Financial