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.
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