Top Financial Advisors in Barrington, IL

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At the top of the list, Sequoia Wealth Management is headquartered in Barrington and has more offices in Illinois, Ohio and Wisconsin. In these other locations, the firm goes by different names, including DEB Financial, Regency Wealth Management and CPM Financial Services. Most of the firm's clients do not have a high net worth.

Advisors are also brokers and insurance agents. In these non-advisor roles, they collect transaction-based fees from vendors, which can potentially pose conflicts of interest. That said, as an SEC-registered firm, Sequioa must abide by its fiduciary duty to put clients' interests before its own.

Among the firm's advisory team are certifications such as chartered life underwriter (CLU) (CLU), certified financial planner (CFP) and chartered financial consultant (ChFC) designations. (Advisors may have more than one credential).

Sequoia Wealth Management Background

Robert Lyman founded Sequoia Wealth Management in 2014. He is the managing partner and sole owner.

The firm offers asset management that may include the advisory services of a third-party money manager. Asset management may also be part of advisory programs sponsored by LPL Financial that may be on wrap fee basis. Additionally, Sequoia Wealth provides financial planning and consulting and retirement plan consulting. Account minimums depend on the program, and generally range from $5,000 to $100,000.

Sequoia Wealth Management Investing Strategy

Through LPL Financial, clients have access to several different investment solutions, including model portfolios, customized portfolios and robo-advisors. Advisors will help clients choose the appropriate investment solution based on their goals, risk tolerance and financial situation. Generally speaking, the practice applies charting, fundamental analysis, technical analysis and cyclical analysis when evaluating securities. It may engage in long-term purchases, short-term purchases, trading, short sales, margin transactions and option writing.

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Piershale Financial Group is the next firm on our list. The firm's client base is entirely focused on individual clients. Of these individuals, most do not have a high net worth. The firm provides investment management and consulting services. These offerings are quite comprehensive and encompass portfolio creation and ongoing supervision. Investment consulting is closer to financial planning and covers issues like retirement income planning.

The account minimum for the firm's asset management services is $150,000, whereas the minimum for investment consulting is much lower, at $10,000. The firm is fee-only, which means advisors collect fees only from their clients. They do not receive transaction-based fees from vendors, which can pose conflicts of interest.

Piershale Financial Group Background

Piershale Financial Group opened in 2000, but it wasn't until 2011 that it registered as an investment advisor with the SEC. Founder Michael Piershale is the sole owner of the firm and serves as its chief compliance officer (CCO) and president. He is a registered financial consultant (RFC) and a chartered financial consultant (ChFC). The firm employs other RFCs and a chartered financial analyst (CFA).

Piershale Financial Group Investment Strategy

In providing ongoing investment management services, Piershale Financial Group looks to develop individualized investment strategies for all clients. Advisors take into account their personal risk tolerance, investment objectives and current financial and tax situations in order to properly and effectively manage their accounts. They also monitor and rebalance portfolios on an as-needed basis to ensure the intended investment plans remain intact.

When it comes to evaluating investments, advisors at Piershale use both fundamental and technical methods of analysis. While advisors invest client assets by taking advantage of both long-term trading and short-term trading, their primary investment strategy is the "Advance and Protect" strategy. This seeks to preserve wealth over the long term, while capturing gains from advancing markets.

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Next up on our Barrington list is Carter Financial Group, a relatively young firm. Carter works almost exclusively with individual clients. Of these individuals, the majority do not have a high net worth. However, it still works with a solid handful of high-net-worth individuals. Institutional clients at the firm include a small number of charitable organizations.

Carter doesn't have a minimum account size requirement. It is a fee-based firm, though. This means that advisors can receive commissions for the sale of financial products. This is a potential conflict of interest, but the firm is a fiduciary and is legally obligated to act in the best interests of clients at all times.

Carter Financial Group Background

Carter Financial Group was founded in 2019, so it's on the younger side. It has been in business since then. While it was originally registered on the state level, it swapped that registration out for an SEC registration in mid 2020. Kevin Carter is the firm's sole principal owner.

Carter provides its clients with both investment management services and financial planning services. Most of the firm's assets are managed on a discretionary basis.

Carter Financial Group Investment Strategy

Carter Financial Group works like many other investment management and financial advisory firms out there in that it looks to tailor its advisory services and investment strategies to the individual needs of clients. It does so by meeting with clients to learn their tolerance for risk, overall financial situation, liquidity needs and other important factors.

Advisors may invest client assets in a variety of ways. They may use model portfolios or a variety of different investment securities. It may also use a variety of different methods of analysis, depending on what is appropriate for the client's account.

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Rounding out our list of the top financial advisory firms in Barrington is Patrick M. Sweeney & Associates. This small firm works entriely with individual clients. Of these individuals, a little more than half are high-net-woth individuals. However, the vast majority of the firm's assets under management (AUM) come from its high-net-worth clients.

This firm carries a $500,000 minimum investment requirement, which is part of the reason that the firm works with so many high-net-worth clients. The firm is fee-only, so it doesn't receive commissions from selling financial products to clients.

Patrick M. Sweeney & Associates Background

Patrick M. Sweeney & Associates was foudned in 2001, but until 2020, it was only registed as an investment advisor at the state level. In 2020, it changed this state-level registration out for a national-level SEC registration. The firm's namesake, Patrick M. Sweeney, is the principal owner and founder. He is the firm's only advisor.

This firm provides its clients with general investment supervisory services. Since the firm is only one employee, all clients have direct access to Sweeney himself.

Patrick M. Sweeney & Associates Investment Strategy

Patrick M. Sweeney & Associates works with clients to determine their financial situation and investment goals so that the advisor can tailor its investment supervisory services to the needs of clients. Sweeney will meet with clients and learn about their tolerance for risk and liquidity needs so that he can properly manage their assets and create financial plans.

Typically, the firm will invest client assets in a range of securities, including exchange-traded funds (ETFs), corporate debt securities, certificates of deposit (CDs), municipal bonds, mutual funds, and government securities.