Linscomb & Williams

Linscomb & Williams

Linscomb & Williams opened in Houston in 1971, founded by Harold Williams and Phillip Linscomb at a time when fee-only advisory was a rarity. The firm positions itself as a multi-family office for Texas families, with an emphasis on tax-aware wealth transfer and estate planning across generations. The co-founders come from accounting and tax backgrounds, which shapes the firm's integration of investment management with tax-compliance work. The firm's investment approach spans public equities, fixed income, and private-market exposures accessed through third-party managers. It acts as a fiduciary allocator rather than a direct investor itself — constructing bespoke portfolios of individual securities and funds rather than originating private deals. The geographic focus remains concentrated in Texas, where the firm's client relationships are built on long-standing referrals. The firm has consistently maintained a fee-only structure, meaning compensation comes exclusively from client advisory fees, not product commissions. Headquartered in Houston, Linscomb & Williams operates as a single-office entity with a team built heavily around CPAs and attorneys alongside investment professionals. The firm became part of Prosperity Bancshares through an acquisition, which has allowed it to retain operational independence while gaining access to broader trust and banking capabilities. The integration with Prosperity's trust division provides the firm with trustee and administrative infrastructure without diluting its advisory ethos. Structurally, the firm is unusual in banking: it functions as a fee-only fiduciary inside a publicly traded bank holding company — a configuration that separates its advice model from the product-push incentives common in bank-affiliated wealth groups. This arm's-length relationship with Prosperity Bancshares protects its multi-family-office posture while providing the back-office scale that smaller independent firms often lack.