Top Financial Advisors in Chicago, IL

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VestGen Advisors, doing business as VestGen Wealth Partners, is a fee-based advisory firm in Chicago that works with individuals, high-net-worth individuals, small businesses, trusts and estates. The firm also serves pooled investment vehicles, charitable organizations and qualified and non-qualified retirement plans. 

As a fee-based firm, certain advisors may earn commissions through affiliated broker-dealers or receive insurance-related compensation in addition to advisory fees, creating a conflict of interest. Despite this conflict of interest, the firm has a fiduciary duty to act in clients' best interests.

VestGen offers a range of services, including discretionary and non-discretionary investment management, financial planning and consulting, retirement planning, estate planning, tax reduction strategies, education planning and insurance solutions. The firm also provides retirement plan services, including limited-scope ERISA 3(21) fiduciary services, investment policy statement development, investment monitoring, participant education and group enrollment meetings.

The firm’s investment approach may include fundamental, technical, charting, cyclical and quantitative analysis, as well as Modern Portfolio Theory. Portfolios may include stocks, bonds, mutual funds, ETFs, options, variable annuities, alternative investments and non-U.S. securities. When third-party managers are used, strategies may include long-term purchases, short-term purchases, trading and option writing.

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Cresset Asset Management, the No. 2 firm on our list, is a fee-based practice that manages assets for both non-high-net-worth and high-net-worth individuals. Institutional clients include pooled investment vehicles and charitable organizations.

Members of the firm's advisory team hold multiple certifications, including designations like the chartered financial analyst (CFA), Certified Financial Planner™ (CFP®) and certified public accountant (CPA) and certified exit planning advisor (CEPA), among others. 

While Cresset generally does not impose a required minimum to open an account, the firm charges a minimum annual fee of $25,000 for investment advisory services. However, the firm and/or its affiliates stand to benefit financially from certain recommendations that are made to Cresset's advisory clients, creating a conflict of interest. Then again, the firm is a fiduciary and must act in clients' best interests.

Cresset offers a broad range of services, including wealth management, financial planning and investment advisory services. They manage both discretionary and non-discretionary accounts and provide specialized family office services like estate planning, tax strategy and philanthropic consulting. 

The firm blends active and passive strategies with disciplined asset allocation and third-party manager selection. Portfolios typically include cash, equities, fixed-income, real estate, private markets, alternatives and derivatives. Cresset emphasizes risk management, tax consequences and cost considerations, with its investment team conducting in-depth reviews to select managers and strategies aligned with clients' investment objectives.

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Santa Barbara Management is a fee-only firm headquartered in Chicago, with an additional office in Montecito, California. The firm primarily works with ultra-high-net-worth individuals and families, as well as trusts, estates, charitable foundations and related family office entities. The firm generally requires a minimum family assets under administration or assets under management threshold of $100 million. However, Santa Barbara Management may accept clients below this threshold at its discretion.

As a fee-only firm, Santa Barbara Mgmt. professionals do not receive third-party compensation for the sale of securities or investment products. Fees may be based on assets under management, assets under administration, fixed annual fees or a combination of these arrangements.

Santa Barbara Management offers a range of services, including discretionary and non-discretionary investment management, tax strategy and compliance, estate and trust planning, financial administration and family reporting. The firm also provides fractional family office services, such as bill payment, household payroll, document storage, insurance coordination and mortgage coordination.

The firm's investment approach typically centers on asset allocation. Portfolios may include ETFs, direct indexing, separately managed accounts, fixed income management and subadviser-managed portfolios. The firm generally takes a long-term approach, with fixed income portfolios often structured around laddered maturities and held to maturity when appropriate.

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Bankers Life Advisory Services is a fee-based financial advisory firm. The firm primarily works with mass affluent individuals, high-net-worth individuals and sponsors or fiduciaries of employer-sponsored retirement plans. It also serves plan participants and beneficiaries, including IRA rollover clients. Bankers Life Advisory Services generally does not require a minimum account size for portfolio management, investment consulting or retirement plan consulting services. However, outside managers used in certain wrap fee programs may impose their own minimums.

The firm offers discretionary portfolio management, non-discretionary investment consulting, retirement plan consulting, wrap fee programs, portfolio rebalancing, quarterly performance reporting and assistance with third-party portfolio managers. Specific professional certifications for the firm’s advisors are not listed in the available firm materials.

Bankers Life Advisory Services generally builds customized, goal-based portfolios based on a client’s risk tolerance, time horizon and investment objectives. Its process may include asset allocation, periodic rebalancing, fundamental analysis, technical analysis, cyclical analysis and the use of third-party model portfolios. Client portfolios may include equities, bonds, CDs, municipal securities, mutual funds and ETFs.

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BMO Family Office primarily works with ultra-high-net-worth individuals and families, including those with a net worth of at least $100 million or investable assets of at least $50 million. It also serves single- and multi-family offices, private foundations, endowments and pooled investment vehicles. BMO Family Office generally requires $50 million for discretionary investment management accounts and $100 million for non-discretionary advisory accounts. Both services generally carry a $250,000 minimum annual fee, though the firm may waive account minimums or fees.

Members of the firm’s advisory team include professionals who hold the chartered financial analyst (CFA) designation, as well as the SASB-FSA credential. As a fee-only firm, BMO Family Office does not receive commissions, 12b-1 fees or compensation from fund managers for investment recommendations.

BMO Family Office offers a range of services, including discretionary investment management, non-discretionary investment advisory services, family wealth strategy, investment reporting, limited-mandate consulting, retirement plan advisory services and donor-advised fund advisory services. Its family wealth strategy services may include financial, tax and estate advisory, legacy planning, philanthropic planning, wealth administration, operating business advisory, lending and cash management, and trust-related services.

The firm uses strategic and tactical asset allocation, manager selection and portfolio monitoring. Client portfolios may include cash, fixed income, equities, mutual funds, ETFs, separate accounts, commingled funds, limited partnerships, hedge funds, private markets, real assets, structured products, individual securities and derivatives. 

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Retirement Plan Advisors (RPA) is a fee-based firm in Chicago that mainly works with individual clients who do not have a high net worth, government entities and investment funds. The firm also serves a relatively small number of high-net-worth individuals.

RPA typically requires a $25,000 initial investment to open a managed account, though this minimum may be waived in certain situations. For the firm's WealthPort Program, the minimum initial investment is usually $5,000, but higher minimums may apply depending on the type of account selected. PortfolioPlus, a discretionary active money management offering for retirement plan participants, has no minimum investment requirement.

As a fee-based firm, some in-house advisors at RPA may receive commissions from the sale of certain securities or insurance products. Despite this conflict of interest, the firm has a fiduciary duty to act in clients' best interests.

Staff members hold multiple certifications, including designations as a Certified Financial Planner™ (CFP®), chartered financial analyst (CFA), accredited investment fiduciary (AIF) and certified public accountant (CPA), among others. In addition to its headquarters in Chicago, RPA has regional offices Missouri, Wisconsin, Michigan and Louisiana.

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The Mather Group (TMG) is a fee-only firm requiring a minimum portfolio size of $1 million to open an account. The firm primarily works with both non-high-net-worth and high-net-worth individuals, as well as some institutional clients. Advisors at the firm have earned a variety of financial advisor certifications, including Certified Financial Planner™ (CFP®), chartered financial analyst (CFA) and certified public accountant (CPA), among others. Services offered at the firm include portfolio management, financial planning, family office services, tax planning/preparation and estate planning.

The Mather Group uses an evidence-based investment strategy, grounded in academic research and historical data. They offer seven risk-based asset allocation portfolios, focusing on balancing risk and returns while optimizing for tax efficiency. Those portfolios range in risk profile from conservative to aggressive growth. TMG customizes portfolios across global stocks, bonds, and alternatives, utilizing low-cost index funds. Their Tax Synchronized Portfolios aim to reduce tax drag and create higher after-tax returns.

TMG’s strategy emphasizes diversification, long-term growth and rebalancing, with a focus on aligning investments with client goals and risk tolerance.

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Zacks Investment Management (ZIM) is a fee-based firm that generally requires a minimum of $500,000 for its investment advisory services. This minimum applies to both its wealth management program accounts and its individual fixed-income securities accounts. However, the firm may waive this requirement based on its discretion.

The ZIM client base is predominantly composed of non-high-net-worth and high-net-worth individuals, as well as a variety of institutional clients, including wrap fee programs.

ZIM offers discretionary investment management services, managing separate accounts, pooled investment vehicles and wrap-fee programs. ZIM also manages alternative investments, such as private funds and offers online advisory through Zacks Advantage, which uses automated investing and ETFs. Additionally, ZIM provides model portfolio recommendations to clients, allowing them to tailor their investments. Their services cater to various client needs, from retail wealth management to institutional clients.

ZIM offers a wide range of investment strategies, including asset allocation and specialized strategies like dividend-focused, ESG and international equity strategies. The firm relies on a hybrid approach to investing that combines both quantitative and qualitative analysis. Their proprietary models analyze patterns of fundamental factors to assess a large universe of stocks.

The firm managesportfolios with a focus on outperforming benchmarks like the S&P 500 and Russell 1000, using tools like quantitative rankings and risk management techniques to maximize returns while managing risk.

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Curi RMB Capital is a fee-based financial advisor and asset management firm that typically requires a $1 million minimum account size or charges a minimum annual fee of $10,000. As a result, the majority of its clients are high-net-worth individuals. Certain Curi RMB Capital employees may receive economic benefits from the sale of securities and/or insurance, creating a conflict of interest. However, the firm has a fiduciary duty to act in its clients' best interests.

The firm's team features a number of credentialed professionals, including advisors and employees with the chartered financial analyst (CFA), Certified Financial Planner™ (CFP®), certified public accountant (CPA) and certified private wealth advisor (CPWA) designations, among others.

Curi RMB offers a range of services including wealth management, asset management, retirement plan solutions, as well as family office services. Wealth management focuses on holistic financial solutions, while asset management provides investment strategies through managed accounts and products. Retirement plan solutions offers advisory services to employer-sponsored retirement plans, and family office services deliver customized financial planning for multi-generational clients with complex needs.

Curi RMB Capital’s investment approach combines fundamental analysis with active management, focusing on long-only, bottom-up equity strategies that seek favorable risk/reward opportunities, while integrating ESG factors when applicable. Asset allocations are customized to each client's goals, utilizing a blend of individual securities, funds and alternative investments.

For fixed income, the firm prioritizes capital preservation and income through investment-grade, U.S. dollar-denominated securities with short to intermediate durations. To diversify portfolios, Curi RMB also employs quantitative analysis, passive strategies and third-party managers.

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Great Lakes Advisors (GLA) is a fee-only firm with a highly diversified client base. GLA manages assets for over 1,000 individual clients above and below the high-net-worth threshold. The firm also works with retirement plans, charities and a variety of other institutional clients. 

As a fee-only firm, GLA professionals do not earn commissions on trades and the selling of insurance and other investment products. GLA imposes minimum account requirements depending on the investment strategy, ranging from $1 million to $2 million.

The firm provides discretionary investment management services via customized portfolio management, equity and fixed-income strategies and responsible investing solutions. Additionally, they offer financial planning, wealth management and ESG-focused investment options, all designed to align with clients' specific financial goals, risk tolerance and long-term objectives.

Great Lakes Advisors employs a range of investment strategies, including fundamental equity, disciplined equity and multi-asset approaches, all aimed at outperforming benchmarks through stock selection and risk management. Their equity strategies focus on attractively valued companies with improving fundamentals, while their fixed-income and multi-asset strategies prioritize wealth preservation and diversification.