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Top Financial Advisors in Buffalo Grove, IL

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This review was produced by SmartAsset based on publicly available information. The named firm and its financial professionals have not reviewed, approved, or endorsed this review and are not responsible for its accuracy. Review content is produced by SmartAsset independently of any business relationships that might exist between SmartAsset and the named firm and its financial professionals, and firms and financial professionals having business relationships with SmartAsset receive no special treatment or consideration in SmartAsset’s reviews. This page contains links to SmartAsset’s financial advisor matching tool, which may or may not match you with the firm mentioned in this review or its financial professionals.

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. 

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Rank Financial Advisor Assets Managed Minimum Assets Financial Services More Information
1 Journey Financial Group, Inc. Journey Financial Group, Inc. logo Find an Advisor

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$205,000,000 $50,000
  • Financial planning
  • Portfolio management 
  • Selection of other advisors (including private fund managers)

Minimum Assets

$50,000

Financial Services

  • Financial planning
  • Portfolio management 
  • Selection of other advisors (including private fund managers)
2 SGL Financial, LLC SGL Financial, LLC logo Find an Advisor

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$143,169,237 $50,000
  • Financial planning
  • Portfolio management
  • Selection of other advisors (including private fund managers)

Minimum Assets

$50,000

Financial Services

  • Financial planning
  • Portfolio management
  • Selection of other advisors (including private fund managers)
3 Phase III Advisory Services, Ltd. Phase III Advisory Services, Ltd. logo Find an Advisor

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$126,301,635 Varies based on account type
  • Financial planning
  • Portfolio management
  • Selection of other advisors (including private fund managers)

Minimum Assets

Varies based on account type

Financial Services

  • Financial planning
  • Portfolio management
  • Selection of other advisors (including private fund managers)

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:

  • AUM
    Firms with more total assets under management are ranked higher.
  • Individual Client Count
    Firms who serve more individual clients (as opposed to institutional clients) are ranked higher.
  • Clients Per Advisor
    Firms with a lower ratio of clients per financial advisor are ranked higher.
  • Age of Firm
    Firms that have been in business longer are ranked higher.
  • Fee Structure
    Firms with a fee-only (as opposed to fee-based) compensation structure 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. 

How Long $1mm Lasts in Retirement

SmartAsset's interactive map highlights places where $1 million will last the longest in retirement. Zoom between states and the national map to see the top spots in each region. Also, scroll over any city to learn about the cost of living in retirement for that location.

Least
Most
Rank City Housing Expenses Food Expenses Healthcare Expenses Utilities Expenses Transportation Expenses

Methodology We analyzed data on average expenditures for seniors, cost of living and investment returns to determine how many years of retirement a $1 million nest egg would cover in cities across America.

First, we looked at data from the Bureau of Labor Statistics (BLS) on the average annual expenditures of seniors. We then applied cost of living data from the Council for Community and Economic Research to adjust those national average spending levels based on the costs of each expense category (housing, food, healthcare, utilities, transportation and other) in each city. Using this data, SmartAsset calculated the average cost of living for retirees in the largest U.S. cities.

We assumed the $1 million would grow at a real return (interest minus inflation) of 2%. Then, we divided $1 million by the sum of each of those annual numbers to determine how long $1 million would cover retirement expenses in each of the cities in our study. Cities where $1 million lasted the longest ranked the highest in the study.

Sources: Bureau of Labor Statistics (BLS), Council for Community and Economic Research