Finding a Top Financial Advisor Firm in Buffalo Grove, Illinois
Looking for the right financial advisor can be daunting. There's a lot to know and weigh before making this important decision. To help, we did the initial hard work, digging through data and reading the fine print. Here are the top financial advisor firms in Buffalo Grove, Illinois. You can also try our advisor matching tool. This interactive application connects you with up to three local financial advisors. It also provides in-depth profiles so you can review their qualifications.
Find a Fiduciary Financial AdvisorWe match more than 50,000 people with financial advisors per month. Get connected to an advisor that serves your area today.
|Rank||Financial Advisor||Assets Managed||Minimum Assets||Financial Services||More Information|
|1||Journey Financial Group, Inc. Find an Advisor||$205,000,000||$50,000|| || |
|2||SGL Financial, LLC Find an Advisor||$143,169,237||$50,000|| || |
|3||Phase III Advisory Services, Ltd. Find an Advisor||$126,301,635||Varies based on account type|| || |
Minimum AssetsVaries based on account type
What We Use in Our Methodology
To find the top financial advisors in Buffalo Grove, we first identified all firms registered with the SEC in the city. Next, we filtered out firms that don't offer financial planning services, those that don't serve primarily individual clients and those that have disclosures on their record. The qualifying firms were then ranked according to the following criteria:
- AUMFirms with more total assets under management are ranked higher.
- Individual Client CountFirms who serve more individual clients (as opposed to institutional clients) are ranked higher.
- Clients Per AdvisorFirms with a lower ratio of clients per financial advisor are ranked higher.
- Age of FirmFirms that have been in business longer are ranked higher.
All information is accurate as of the writing of this article. This list may include firms that have a business relationship with SmartAsset, in which SmartAsset is compensated for lead referrals. Such relationships have no impact on our rankings, and firms are included and ranked based strictly on the above criteria.
Journey Financial Group, Inc.
At the top of the list, Journey Financial Group (JFG) currently works with individuals, high-net-worth individuals and retirement plans. To open an account, clients generally need at least $50,000 in investable assets. However, the firm, which is fee-based, may waive this requirement under certain circumstances.
The firm employs advisors who may be brokers or insurance agents who earn commissions from third parties on top of client fees. Clients are not obligated to accept these recommendations for products, of course. Despite the conflict of interest that commission-based compensation can create, JFG must uphold its duty as a fiduciary to always work in the best interests of the client.
Journey Financial Group Background
JFG launched in 1997. President McLain Tallungan wholly owns the firm today.
JFG offers asset management services through various programs, including ones that involve model portfolios. It also provides financial planning services covering topics like estate planning and retirement savings. In addition, the firm serves as a consultant to corporate retirement plans such as 401(k) plans and pensions.
Journey Financial Group Investment Strategy
JFG primarily invests client assets in open-ended mutual funds, no-load and load-waived mutual funds and mutual funds purchased at net asset value (NAV). The firm offers the following three management programs to its clients through the Vision 2020 Wealth Management Platforms:
- Vision2020 Advisor Managed Program: JFG advisors design and continuously monitor an investment portfolio built with asset allocation software. The advisor takes into account factors such as the client’s risk tolerance and investment goals. JFG also uses re-balancing and optimization tools when necessary. In evaluating securities for these portfolios, the firm may utilize various resources including fund profiling tools.
- Vision2020 Genesis Model Portfolio Program: This option involves model portfolios primarily built with mutual funds and exchange-traded funds (ETFs) across various asset classes and investment styles. These funds generally come from BlackRock Investment Management and Vanguard Advisors.
- Vision2020 Unified Managed Account Program: This platform provides clients with the opportunity to invest their assets across multiple asset classes, using multiple strategies. This is a wrap account program that offers advisory services, as well as brokerage and custodial services for one asset-based fee.
SGL Financial, LLC
Fee-based SGL Financial is second on our list of the top-rated firms in Buffalo Grove. Its team includes several investment advisors, most of whom are licensed insurance agents or brokers who receive commissions from third parties on top of client fees. Of course, clients are not obligated to buy these recommended products. Also, SGL has a fiduciary duty to always work in the best interests of the client.
To become a client, you typically need at least $50,000 in investable assets. The firm, though, may waive this requirement. SGL currently serves hundreds of clients who are mostly non-high-net-worth individuals, although many are.
SGL Financial Background
SGL officially launched business operations in 2011 as Wealth Financial Advisory Services. It changed to its current name in 2017. Gabriel Lewit, Steven Lewit and Steve Thomas are the current principal owners.
The firm primarily provides investment advisory services. It utilizes sub-advisors and third-party money managers for most client accounts. SGL performs due diligence on all outside advisors and managers. The firm also can extend non-discretionary estate, retirement or other kinds non-investment financial planning advice to its clients.
SGL Financial Investment Strategy
SGL considers various personal factors, including risk tolerance and financial goals, when making asset management recommendations to clients. The firm uses both long-term and short-term trading. In evaluating different securities, it may use charting, cyclical and fundamental and technical methods of analysis.
Phase III Advisory Services, Ltd.
Phase III Advisory Services rounds out our Buffalo Grove list. Its investment advisory team features two certified financial planners (CFPs). They work with both high-net-worth individuals and non-high-net-worth individuals, as well estates, trusts and charities.
Minimum investments vary depending on the type of account you want to open. They generally range from $25,000 to $100,000. However, the firm may waive or lower these minimums at its discretion.
As a fee-based firm, Phase III advisors can earn commissions for selling or recommending certain products, like insurance or securities, creating a potential conflict of interest. However, the firm is a fiduciary and must act in its clients' best interests no matter what.
Phase III Advisory Services Background
Phase III has been in business since 1984, making it the oldest firm on our list. President John W. Bever is the sole owner and serves as chief compliance officer and asset manager. Phase III offers the following services:
- Asset management programs (including a wrap-fee program)
- Portfolio monitoring
- Financial planning and consultative services
- Review and monitoring of third-party manager programs
Phase III Advisory Services Investment Strategy
Phase III has an investment committee that evaluates model portfolios, securities and investment desions. Based on a review of a client’s risk tolerance and other factors, Phase III will choose a particular model portfolio and allocate assets accordingly. These model portfolios are primarily built with individual securities such as stocks and bonds, mutual funds and exchange-traded funds (ETFs).
The firm also provides ongoing portfolio monitoring services and recommendations for how to reallocate assets. Phase III will reivew portfolio and provide recommendations for changes at least once a quarter.