ARGI Investment Services is a registered investment advisor (RIA) with more than $2.16 billion in assets under management (AUM). Based in Louisville, Kentucky, the firm serves individuals, business owners and more. Its financial advisors are spread across the country, in nine other cities, including Atlanta and Cincinnati.
ARGI Investment Services Background
ARGI Investment Services originally started as a franchise of American Express Financial advisors in 1995. In 2003, it separated from American Express, and offically changed its name to the current on in 2005. Today, it’s owned by ARGI Holdings, Inc., which in turn is owned by CEO Joe Reeves, President Neil Quinlanan and an employee stock ownership plan (ESOP). Reeves is a certified financial planner (CFP) who has been with the firm since 1996.
ARGI Investment Services Client Types and Minimum Account Sizes
ARGI Investment Services works with individuals, high-net-worth individuals, trusts, estates, corporations, pension and profit-sharing plans and charitable organizations. The firm generally requires a minimum investment of $50,000 for portfolio management services. However, it may waive this requirement under certain circumstances.
Services Offered by ARGI Investment Services
ARGI Investment Services designs long-term financial plans that address a variety of topics including:
- Tax management
- Insurance solutions
- Retirement savings
- Estate planning
The firm also offers various investment management programs through its independent advisor representatives (IARs). However, you can work with the firm’s investment committee if you’re in the AGRI Asset Management Program I. This requires a minimum investment of $100,000.
The ARGI Asset Management Program II is a wrap-fee program. This means that clients pay a single fee for advisory services in addition to transaction-based brokerage and custodial expenses.
ARGI Investment Services Investment Philosophy
The firm's investment committee is responsible for designing, maintaining and monitoring its model portfolios. These model portfolios follow different strategies, including tactical asset allocation, strategic asset allocation, what it calls a "SmartCap" strategy, which bases security weightings on company-specific metrics other than size, and a strategic asset allocation that invests in exchange-traded funds (ETFs). These four core strategies are available at six different levels of risk tolerance, from least aggressive to most aggressive.
The firm also offers: individual bond strategies, individual stock strategies, a value portfolio, dividend-focused portfolio - and what it calls Defensive Equity Portfolio, Factor 15 Model, Concentrated Stock Option Portfolio, Black Swan Options Portfolio and Strike Zone Options Portfolio.
Fees Under ARGI Investment Services
ARGI Investment Services charges annual asset-based fees for its investment advice. These fees vary, depending on the investment program and asset level. Here is the tiered schedule for the firm's Asset Management Program I:
ARGI Asset Management Program I (Wrap program)
|$0 to $500,000||1.45%|
|$500,000 - $1,000,000||1.00%|
|$1,000,000 - $2,500,000||0.85%|
|$2,500,000 - $5,000,000||0.70%|
|$5,000,000 - $10,000,000||0.60%|
|$10,000,000 - $20,000,000||0.50%|
|$20,000,000 - $50,000,000||0.40%|
What to Watch Out For
IARs with ARGI Investment Services may be affiliated with other firms, such as insurance companies, and may earn commissions from them for selling their products. This may present a potential conflict of interest. It can also lead to confusion, as they are obligated to give advice in a client's best interests only when they are acting as advisors. Salespeople and brokers have different standards of behavior. When receiving a recommendation, you'll want to make sure you know its basis and whether and how the IAR and firm may benefit.
In the past 10 years, ARGI Investment Services has not been involved in any legal or disciplinary events that are material to a potential client’s evaluation of the firm. For the latest details, you can access its Form ADV on the Securities and Exchange Commission's Investment Adviser Public Disclosure website.
Tips for Finding the Right Financial Advisor
- Want an advisor who will always work in your best interests? That's what is called in the industry a fee-only advisor. To find one near you, use our SmartAsset financial advisor matching tool. It connects you to up to three different local advisors, based on your preferences. We also provide in-depth profiles to help you evaluate and compare their credentials.
- Ask prospective advisors what their median account size is. You don’t want to be their smallest client - or their biggest. In the first case, you probably won’t get the attention you need. In the latter case, the advisor may not have the experience, know-how or resources for your asset level.
All information was accurate as of the writing of this article.