Texas Asset Management

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Client assets under management

$64,632,698

Clients

72% high-net worth

Advisors

of 3 employees

Firm type

Supported

1-3 advisors or $200M+ in AUM

Clients per advisor

Very Low

Average account size

$1,292,654

About

Texas Asset Management provides discretionary investment management, written financial planning, and limited consulting to individuals, high-net-worth clients, trusts, qualified retirement plans and small businesses. Services commonly include a written financial plan, ongoing portfolio management and advice on estate, retirement and insurance matters.

The firm’s investment approach is long-term and asset-allocation driven, grounded in Modern Portfolio Theory and implemented largely through passive, asset-class mutual funds—primarily Dimensional Fund Advisors (DFA) funds that are generally available to institutional investors and selected advisor networks. TAM develops written investment policy statements, may use model portfolios or no-load mutual funds, and will include individual equities or dollar‑cost averaging when suitable for a client’s objectives.

Operationally, TAM generally requires clients to custody assets on its institutional platform and debits advisory fees directly, and it reports limited custody exposure for certain accounts that permit client-directed transfers by verbal instruction—features that can be atypical among peers. The firm is a small, long-established adviser (three advisors, roughly $65 million in discretionary AUM) that combines institutional-only fund access with quarterly advance fee billing and does not aggregate trades across client accounts.

Client services

Financial planning Portfolio management

Expertise

Wealth management Passive / index investing General tax planning

Fee options

Fixed

Fixed fee typically ranging from $1,000 to $5,000

Percentage

$0 - $1,000,000: 1.00% $1,000,000 - $3,000,000: 0.70% $3,000,000 - $5,000,000: 0.45% $5,000,000 - $8,000,000: 0.35% $8,000,000+: 0.25%

Project-based

$150 - $200 per hour

Other

Account minimum: $100,000 Fee-only: Fixed fee ranging from $1,000 to $5,000; Hourly fee ranging from $150 to $200 per hour

Main office location

Texas Asset Management

1200 Lakeway Drive, Suite 20

Lakeway TX 78734, United States

Number of offices

Most active in

Texas

Disclosures

Business activities & affiliations

Is not active or affiliated with:

Insurance agent

They sell insurance products and may earn commissions on those sales.

Broker-dealer / trader

They provide brokerage services and may earn transaction-based compensation in addition to advisory fees.

Bank

They're affiliated with a bank that may offer its own financial products and services.

Trust company

They provide trust and estate administration services, typically for separate fees.

Fund sponsor

They manage or sponsor investment funds and may earn management or performance-based fees if clients invest in them.

Accountant / CPA / tax prep

They offer tax and accounting services, typically for separate fees.

Lawyer

They provide legal services, typically billed separately.

Real estate agent

They facilitate real estate transactions and may earn commissions.

Other specialized services

They may provide services such as pension consulting or municipal advisory work, typically for separate fees.

Forms ADV

Form ADV Part 2: Client Brochure

Quick links

Website 512-261-8800

Advisors at this firm

James K

PFS™

Lakeway, TX

Texas Asset Management

James Karnes is a financial advisor with Texas Asset Management in Lakeway, TX, holding the PFS™ designation and 24 years of industry experience. He is also a CPA at the accounting firm Brodnax & Karnes, P.C., where he has worked since 2000. Karnes has been with Texas Asset Management and its predecessor firms since 1999. Texas Asset Management is an independent, single-adviser registered investment adviser serving individuals, high-net-worth clients, trusts, qualified retirement plans, and small businesses. The firm employs a long-term investment approach based on Modern Portfolio Theory, focusing on diversified portfolios constructed mainly with institutional-class, passively managed mutual funds tailored to each client’s investment policy.

Wealth management Passive / index investing General tax planning

Elvin M

CFP®

Lakeway, TX

Texas Asset Management

Elvin Miller is a CFP® professional with 15 years of experience in financial advising. He has been with Texas Asset Management, formerly known as Texas Invest Wisely and Lake Travis Financial Advisors, since 2006. Miller operates as the sole advisor at the independent firm based in Lakeway, TX. Texas Asset Management provides discretionary investment management, written financial planning, and consulting services to individuals, high-net-worth clients, trusts, retirement plans, and small businesses. The firm employs a long-term investment approach grounded in Modern Portfolio Theory, focusing on diversified portfolios constructed mainly with passively managed, institutional-class mutual funds tailored to each client’s investment policy statement.

Wealth management Passive / index investing General tax planning

John B

CFP®

Lakeway, TX

Texas Asset Management

John Brodnax is a CFP® professional with 24 years of experience, serving as the sole advisor at Texas Asset Management. He has practiced law since 1994 at the Law Office of John W. Brodnax and is a CPA at Brodnax & Karnes, P.C. Texas Asset Management is an independent, single-adviser registered investment adviser that provides discretionary investment management, financial planning, and consulting to individuals, high-net-worth individuals, trusts, qualified retirement plans, and small businesses. The firm employs a long-term investment approach based on Modern Portfolio Theory, focusing on asset allocation and diversified portfolios primarily composed of institutional-class, passively managed mutual funds tailored to client investment policy statements.

Wealth management Passive / index investing General tax planning

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