Top Financial Advisors in Illinois

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Formerly known as DiMeo Schneider & Associates, Fiducient Advisors serves both non-high-net-worth and high-net-worth individuals. It also works with institutional clients that include banks or thrift institutions, pension and profit-sharing plans, charities and corporations.

The leadership of this Chicago-based firm holds multiple certifications, including certified financial planners (CFPs), chartered financial analysts (CFAs), accredited investment fiduciaries (AIFs), certified investment management analysts (CIMAs), among other designations.

Minimum account sizes depend on the type of private client and services deployed. But annual fees for investment advisory services can range from 0% to 1% of assets under management. Some investment programs require a minimum of $50,000 and $500,000.

As a fee-based firm, some of Fiducient's advisors can sell financial products on a compensation-basis. This creates a potential conflict of interest, though the firm's fiduciary duty requires it to act in clients' best interests at all times.

Fiducient Advisors Background

Fiducient was established in 1995 when Bob DiMeo and Bill Schneider directed Kidder Peabody’s investment consulting firm in the Midwest into a new venture. Fiducient Holdings, LLC, owns the firm and an executive committee comprising DiMeo, Michael Benoit, Jessica Ludwig, Brian Carlson, Matt Rice, Anthony Tranghese, Mark Wetzel, Michael Goss, Ryan Gardner and Julie Vander Weele are responsible for daily operations. 

In addition to investment management, clients may receive financial planning services from the firm, which may include:

• Income and estate tax planning
• Risk management (property and casualty)
• Retirement and cash flow planning
• Balance sheet/net worth analysis
• Life insurance review

Fiducient Advisors Investment Strategy

Fiducient Advisors provides investment management services by recommending independent investment managers who are in its database and deemed appropriate based on the client's needs and goals. The firm may also recommend mutual funds and other investments, such as venture capital funds, if it’s deemed right for your risk appetite and financial needs.

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Midland Wealth Management is a fee-based firm that provides financial planning services both on an hourly basis and through fixed engagement fee arrangements. The firm caters to a diverse clientele including individuals, high net worth individuals, trusts, banks, and estates. While there is no explicit minimum account size, Midland Wealth Management enforces a minimum fee of $1,000 or adheres to a disclosed fee schedule. 

As a fee-based firm there is a potential for a conflict of interest as the firm or its advisors may earn commissions for the sale of certain securities. However, each advisor is bound by a fiduciary duty to put the needs of each client first. 

Midland Wealth Management Background

Midland Wealth Management was founded in 2023. It operates as a wholly-owned subsidiary under the corporate ownership of Midland States Bancorp, Inc., which is listed on NASDAQ under the ticker MSBI. The firm currently manages more than $2.5 billion in assets under management (AUM) across its 16 advisors. 

Midland Wealth Management Investment Strategy

The firm employs a blend of investment strategies including Modern Portfolio Theory (MPT), fundamental analysis, and technical analysis to cater to a diverse clientele. The firm's services are designed to meet the needs of various types of investors including individuals, high-net-worth individuals, trusts, estates, not-for-profit entities, businesses, and retirement plans. Each client's unique financial situation and goals are carefully considered to tailor investment approaches that best suit their specific circumstances.

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Savant Wealth Management is a fee-only firm that serves a large client base of both high-net-worth and non-high-net-worth individuals. Insitutional clients also include pension and profit sharing plans, charitable organizations, other investment advisors and corporations.

When you work with Savant, you’ll have access to wide range of professionals. These include certified financial planners (CFPs), certified public accountants (CPAs), accredited investment fiduciaries (AIFs) and more. 

Savant typically requires clients to have at least $300,000 to open an investment account. It charges fees for investment advisory services based on a percentage of your assets under management. It doesn’t earn commissions or other sources of revenue from outside firms for the recommendation of certain investments or securities. 

However, fixed fees typically range between $250 and $5,000. The firm also charges financial consulting fees between $100 and $500. Wealth management service fees are based on the total assets under management, ranging from an annualized rate of 0.75% to 1.25%. Clients with less than $1 million of assets under management will pay a minimum $10,000 annual fee and a higher annualized rate than the 1% maximum.  

Savant Wealth Management Background

The firm first opened its doors in 1986 as the Savant Planning Group and began offering investment advisory services in 1993. Savant is principally owned by SCMI, Inc. formerly known as Savant Capital Management, Inc.

Today, the firm aims to provide holistic financial planning to its clients. Based on your situation, this may entail money management around periods such as marriage, childbearing and retiring. It would also help you build an investment portfolio based on your needs. 

Savant Wealth Management Investment Strategy

Savant strives to help clients build and rebuild investment portfolios that focus on the long term and aim for maximum returns with managed risk. When making recommendations, the firm takes into account a client's risk tolerance, long-term rate of return objective, time horizon, income and liquidity needs, tax considerations and others. 

Savant offers clients a series of asset allocation models based on risk tolerance and investment objectives. Model portfolios typically will include a blend of low-cost mutual funds and exchange traded funds across a wide spectrum of equity, fixed income and alternative asset classes.

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Cresset Asset Management is a large advisory practice based in Chicago. The firm manages assets for both non-high-net-worth and high-net-worth individuals, as well as pooled investment vehicles, charitable organizations and corporations. The firm offers various advisory services, and it mainly charges clients asset-based fees and fixed fees. As a fee-based operation, the firm has the ability to receive third-party forms of compensation in certain instances. However, its fiduciary duty means it must act in clients' best interests.

Cresset also doesn’t impose a minimum account size requirement. Though clients will get charged a minimum annual fee of $20,000 for investment advisory services, with a maximum of 2% of assets under management. 

The advisory team holds multiple certifications as certified financial planners (CFPs), chartered financial analysts (CFAs), certified private wealth advisors (CPWAs), certified public accountants (CPAs), certified investment management analysts (CIMAs), among other designations. 

Cresset Asset Management Background

Established in 2017, Cresset's advisory services include portfolio management, financial planning, pension consulting, selection of other advisors and educational seminars/workshops.

The firm is a majority-owned subsidiary of Cresset Intermediate Holdco, LLC, which itself is a majority-owned subsidiary of Cresset Capital Management, LLC.

Cresset Asset Management Investment Strategy

In conducting investment research, Cresset primarily uses fundamental analysis, technical analysis, quantitative analysis, qualitative analysis and charting analysis. The firm may invest client asset in any of the following:

• Money market funds and other cash instruments
• Exchange-listed securities and securities traded over-the-counter
• Mutual fund shares and exchange traded fund shares – passive and activelymanaged
• Separately managed accounts
• Corporate debt securities
• Hedge funds and private equity shares
• Municipal securities
• U.S. governmental securities
• Real estate investment trust shares/interests
• Structured products and derivatives
• Options and warrants

The firm also focuses on alternative, non-traded private investments, and it regularly employs asset allocation and mutual fund and/or exchange-traded fund (ETF) analysis. Additionally, Cresset uses a range of other investment strategies, including long-term purchases, short-term purchases, margin transactions and option writing.

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Choreo is a fee-based firm that specializes in helping individuals, high-net-worth individuals, family offices, pension plans, retirement plans, profit-sharing plans, charitable organizations, estates, trusts, banking or thrift institutions, corporations and other business entities. The firm typically requires a minimum of $1 million to work with its advisors. As a fee-based firm there is a potential for a conflict of interest but all advisors are bound by a fiduciary duty to put the needs of its clients first. 

Choreo Background

Choreo was founded in 2000 with the guiding principles of shifting planning needs, an understanding of a potential rocky road and that today's financial environments are evolving. Today, the firm manages more than $16 billion in assets under management (AUM) across its 129 advisors in several states. Larry Miles serves as the Chief Executive Officer with Lisa Tamburini as the firm's General Counsel and Chief Compliance Officer.

Choreo Investment Strategy

Choreo emphasizes the development of broadly and globally diversified portfolios. Its investment approach allows Choreo to focus on the issues and concerns of our clients, avoiding decision-making based on emotion or short-term forecasts. The firm believes that it is important that implementation is appropriate to the needs of the client and consistent with the client's investment objectives, risk tolerance and time horizons, among other considerations. 

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Capital Strategies Investment Group (CSIG) is a fee-only firm that manages assets primarily for high-net-worth individuals and retirement plans. The firm also works with individual clients who do not have a high net worth, charitable organizations and corporations. 

The firm’s team holds multiple certifications, including designations as chartered financial analysts (CFAs) and accredited investment fiducairies (AIFs), among others. 

CSIG doesn’t require a minimum initial investment. It generally charges annual asset management and investment consulting service fees between 0.05% and 1% of a client's assets under managment, or a flat fee. The firm's advisors do not sell financial products or insurance for commissions. 

Capital Strategies Investment Group Background

CSIG was founded in 2009 by Will Woodall, Barbara Best and Nancy Rizzuto. The firm is principally owned by its three founders, as well as Alison Bettonville, Mike Rarey, Mike Warford and Neil Davies. The firm's advisory services can touch upon a number of areas including retirement planning, trust and estate planning, and legacy evaluation.

Capital Strategies Investment Group Investment Strategy

When it comes to investment advice through its private wealth program, CSIG aims to develop a long-term plan for you, your family and even the next generation. It plans to meet this goal by devising a custom portfolio tailored to your individual risk appetite, restraints and needs. Based on these and other factors, your portfolio may invest in the following. 

• No-load mutual funds
• Exchange-traded funds (ETFs)
• Collective trusts
• Limited partnerships
• Cash equivalents
• Fixed income
• Equity securities

The firm focuses on long-term investments and places diversification above all. According to official documents filed with the SEC, the firm relies on a long-term investment philosophy that hinges on a diversified portfolio to net the best return based on a client's risk tolerance.

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IPI Wealth Management is a fee-based firm that caters to a diverse clientele including individuals, high-net-worth individuals, businesses, pension and profit-sharing plans, as well as 401(k) plans. IPI Wealth Management does not require a minimum asset value for opening or maintaining accounts, although minimums may apply for TAMP services depending on the chosen investment management program, as detailed in the TAMP disclosure documents.

As a fee-based firm, there is a potential for a conflict of interest but the firm's advisors are bound to a fiduciary duty to put the needs of their clients first. 

IPI Wealth Management Background

IPI Wealth Management was founded in 1996. The firm is under common control and ownership, with Investment Planners, Inc. and RBC as its owners. Lori Fuerstenburg serves as the firm's Chief Compliance Officer. Today the firm manages more than $2 billion in assets under management (AUM) across its 52 advisors. 

IPI Wealth Management Investment Strategy

The firm employs a strategy that emphasizes diversification across various asset classes including different industry sectors and geographic regions, as well as equities and bonds. They focus on strategic asset allocation and fundamental analysis to guide their investment decisions. The firm's typical investment vehicles include stocks, bonds, mutual funds, ETFs, municipal securities, options contracts, certificates of deposit, warrants, corporate debt securities, money market funds and U.S. government securities. 

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Great Lakes Advisors (GLA) manages assets for both non-high-net-worth individuals, as well as banks or thrift institutions, investment companies, pooled investment vehicles, pension and profit-sharing plans, charities, state or municipal governments, insurance companies, other investment advisors and businesses. 

GLA may charge a percentage of assets under management for investment management services, which is a maximum of 2% for accounts under $5 million. The firm also imposes minimum account requirements depending on the investment strategy, ranging from $1 million to $2 million. 

As a fee-only firm, GLA professionals do not earn commissions on trades and the selling of insurance and other investment products. 

Great Lakes Advisors Background  

Founded in 1981, GLA is completely owned by Wintrust financial Corp. It is headquartered northwest of Chicago, near O’Hare Airport.

GLA is a registered investment advisor with the Securities and Exchange Commission (SEC).   

Great Lakes Advisors Investment Strategy  

GLA says it takes six investment approaches to create long-term solutions for clients. These include:

• Disciplined equity, which aims to deliver "more consistent excess returns 
• Fundamental equity, which engages risk-focused investing in value-oriented companies 
• Fixed income, which focuses on an experienced, conservative approach 
• Multi-asset strategy, which tailors portfolios to client goals 
• Smart Beta, which focuses on risk-based investment solutions 
• Private wealth, which take a goals-based approach

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The Mather Group is a fee-only firm that works with both non-high-net-worth and high-net-worth individuals, as well as pension and profit-sharing plans and charitable organizations.

Gallagher Fiduciary Advisors offers fee-based financial advisory services to a diverse clientele including individuals, public and private sector employee benefit plans, charitable institutions, foundations and endowments. The firm caters to a diverse clientele including individuals, public and private sector employee benefit plans, charitable institutions, foundation, and endowments. Gallagher does not require a minimum account size to engage their services. 

Gallagher Fiduciary Advisors Background

Gallagher Fiduciary Advisors was founded in 2008. J. Patrick Gallagher, Jr. serves as the Chairman of the Board and Chief Executive Officer. The firm manages more than $10 billion in assets under management (AUM) across its 160 advisors. 

Gallagher Fiduciary Advisors Investment Strategy

The firm employs a comprehensive investment approach that includes asset allocation strategies and focuses on diversification across various market capitalizations, including large-cap companies and small- to mid-cap stocks. The firm also emphasizes international diversification, taking into account factors such as currency and political risks.??

The firm tailors its investment strategies to align with individual client profiles, considering factors such as risk tolerance, time horizon, liquidity constraints, and overall financial situation. Investment objectives and goals are prioritized, along with any account restrictions and personal circumstances, to create a personalized investment plan for each client.

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Kovitz Investment Group Partners caters to a diverse clientele including high-net-worth individuals and their associated accounts like IRAs, trusts, partnerships, and custodial accounts. The firm also manages retirement and benefit plans, including 401(k) and profit-sharing plans, serves small businesses, institutional clients such as Taft-Hartley plans, corporations, limited partnerships, limited liability companies and state and municipal government entities.

The firm typically requires a $1,000,000 minimum investment for separate accounts, although this minimum is reduced to $500,000 for clients in their California and Madison offices. Kovitz maintains the flexibility to decline engagements that do not fit their operational structure and may waive these minimums at their discretion. 

The firm is fee-based and as such there is the potential for the firm or its advisors to earn commissions on the sale of certain securities. While this could create a conflict of interest, the firm is bound by a fiduciary duty to put the needs of each client first. 

Kovitz Investment Group Partners Background

Kovitz Investment Group Partners was founded in 2003. The firm is currently under the ownership structure of a corporate entity. It is indirectly wholly owned by Focus LLC, with additional indirect ownership by investment vehicles managed by CD&R and Stone Point. Today, the firm manages more than $11 billion in assets under management across its 52 advisors. 

Kovitz Investment Group Partners Investment Strategy

The firm employs a multifaceted investment approach that includes value investing, international diversification, and tactical management of portfolio exposures. The firm also emphasizes diversification across major market sectors and industry groups, pursues a dividend income strategy, and considers fixed income crucial for stability during volatile periods.??

Client portfolios are tailored considering various personal factors such as their financial condition, objectives, income and liquidity needs, desire for principal protection, risk tolerance, tax sensitivities, state preferences, time horizon and overall investment goals and objectives.