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Cornerstone Financial Group, LLC

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Cornerstone Financial Group (CFG) of Omaha, Nebraska, specializes in asset management and financial planning services for individuals. The firm's financial advisors also provide fiduciary retirement account services to corporate plan sponsors. It currently has nearly $60 million in assets under management (AUM).

It’s registered with state securities authorities in Nebraska and Iowa only.

Cornerstone Financial Group Background

CFG has been offering investment management services since 1996. It was last registered with the Securities and Exchange Commission (SEC) in 2012. As noted above, it is currently registered as an investment advisor only in Nebraska and Iowa.

The firm is owned by David Hoppen and Spencer Schwarting. 

What Types of Clients Does Cornerstone Financial Group Accept?

CFG serves the following types of clients: 

  • Individuals
  • High-Net-Worth Individuals
  • Pension and profit sharing plans
  • Trusts, estates and charitable organizations
  • Corporations and other business entities

Cornerstone Financial Group Minimum Account Size

CFG doesn’t require any minimum account sizes for its investment advisory services. 

Services Offered by Cornerstone Financial Group

CFG creates, monitors and rebalances investment portfolios on behalf of its clients. It also provides individual financial planning services, which can involve the following topics: 

  • Tax planning
  • Retirement planning
  • Investing
  • Asset allocation modeling
  • Estate planning 

In addition, the firm can provide fiduciary advisory services to plan sponsors of corporate retirement plans such as 401(k)s. The firm can assist with investment menu selection and monitoring, due diligence review and participant education. 

Cornerstone Financial Group Investment Philosophy

CFG engages in specific investing strategies that it finds suitable to the client’s risk tolerance, financial goals and other variables. The firm generally recommends investing in mutual funds and exchange-traded funds (ETFs), but may turn to other securities if it deems them appropriate. 

When evaluating securities, the firm may engage in various research strategies including fundamental analysis. This strategy involves studying everything that may affect a security’s value from overall economic and industry conditions to the financial health of a company and its management structure. 

Fees Under Cornerstone Financial Group

CFG charges hourly or fixed fees for financial planning services. Hourly fees usually extend up to $500. Fixed fees refer to written plans and can range from $500 to $9,000, depending on the complexity of the plan. The firm requires one half of the fee to be paid upfront and the remainder to be paid after plan delivery. 

What to Watch Out For Cornerstone Financial Group

As noted earlier, the firm is no longer registered with the SEC. Instead, its advisors can work only with clients in states where it is registered, which is Nebraska and Iowa.

Disclosures

CFG had no disclosures to report in its last SEC filings dated June 2019. Though the firm is no longer registered with the SEC, its state filings still go through the SEC. 

Opening an Account With Cornerstone Financial Group

To contact CFG, call (402) 758-0700. It currently has no website.

Where Is Cornerstone Financial Group Located?

The firm is located at 11225 Davenport Street, Suite 102, Omaha, Nebraska 68154. 

All information was accurate as of the writing of this article.

Tips on Finding the Right Financial Advisor 

  • Before you choose a financial advisor to work with, make sure you’ve carefully reviewed your options. Services offered, fees charged and advisor qualifications can vary vastly. To help you narrow your search, we created a financial advisor matching tool. All you have to do is answer some questions about your financial situation and needs, and the tool matches you with up to three advisors in your area. You can review their profiles before making a decision. 
  • When evaluating advisors, be sure to examine whether they have specific certifications in the field. Some advisors go through major training before earning these certifications. And advisors don’t even need them to carry the title. But you should keep an eye out for ones that stand out from the competition with designations such as certified financial planner (CFP). These advisors have a fiduciary duty to work solely in your best interest or face major penalties. 

How Many Years $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.

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

Methodology To determine how long a $1 million nest egg would cover retirement costs in cities across America, we analyzed data on average expenditures for seniors, cost of living and investment returns.

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%. This reflects the typical return on a conservative investment portfolio. 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