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Chicago Partners Wealth Advisors Review

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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.

Chicago Partners Wealth Advisors is a fee-based firm located in the heart of The Windy City. There are 23 advisors at the firm managing more than $2.51 billion in assets for clients, most of whom are non-high-net-worth individual investors. The minimum account size is $1 million.

Chicago Partners Wealth Advisors Background

CP was founded in 2009 by James Hagedorn and co-founded by Anthony Halpin. Hagedorn is currently the majority and principal owner of the firm.

Certifications at the firm include six chartered financial advisors (CFAs), five certified financial planners (CFPs), three chartered alternative investment analysts (CAIAs) and one certified public accountant (CPA).

Chicago Partners Wealth Advisors Client Types and Minimum Account Sizes

CP works mostly with individuals, around 80% of whom do not have high net worth. Institutional clients include pension and profit-sharing plans, charitable organizations, government entities, insurance companies, corporations and family limited partnerships.

The firm’s minimum account size is $1 million.

Services Offered by Chicago Partners Wealth Advisors

The following services are offered to clients at CP:

  • Separately managed accounts
  • Family office services
  • Consulting
  • 401(k) savings
  • Financial planning
  • Estate planning
  • Insurance planning

Chicago Partners Wealth Advisors Investment Philosophy

Long-term investments are the preferred strategy at CP. This means the advisors prefer to buy securities they plan on holding for at least a year. When choosing which investments to make for clients, the preference is to build diversified portfolios with investments from around the globe.

Fundamental analysis is the main method of examining potential investments. Quantitative analysis also factors in. Mutual funds and exchange-traded funds make up the majority of investments at CP, with stocks, pooled investments and cash holdings also used.

Fees Under Chicago Partners Wealth Advisors

There is not a set fee schedule at CP, but asset-based fees generally range from 0.3% and 1.25%. The fee for each client is based on a variety of factors including total assets and the overall scope of the services performed by the firm.

CP also has a digital wealth platform with an annual fee of 0.56%.

Some advisors at CP are also licensed insurance agents, and may earn commissions for selling insurance products to clients. This presents a potential conflict of interest, explained in full below.

What to Watch Out For

As mentioned above, some advisors at CP earn commissions for selling insurance products. This presents a potential conflict of interest, as they may be incentivized to sell products with the highest commissions rather than the ones that are the best fit for the client. That said, all advisors must act in the best interest of their clients when serving as an advisor.

There are no disclosures on the record at CP.

Opening an Account with Chicago Partners Wealth Advisors

The best way to contact someone at CP about opening an account is to fill out the form on this page.

How to Make the Most Out of Your Money

  • Finding the right financial advisor near you doesn’t have to be hard. SmartAsset’s free tool matches you with financial advisors in your area in just five minutes. If you’re ready to be matched with local advisors, get started now.
  • One of the keys to any investing plan is knowing how you will spread out your money. Use SmartAsset’s asset allocation calculator to get a sense of how you can build your portfolio.

How Long $1 Million 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.

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

Methodology We weighed potential expenditures for a prospective retiree with a  $1 million nest egg to assess how many years that fund would cover in retirement in America’s largest cities.

We 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 metro areas across the U.S.

We assumed the $1 million would grow at a net annual return of 2% after inflation. 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.