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Harvest Investment Services 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.

Harvest Investment Services, LLC

Harvest Investment Services is a financial advisor firm located in Oakbrook Terrace, Illinois, a small town on the outskirts of Chicago. The firm actually makes an appearance on SmartAsset's list of the top financial advisor firms in Oakbrook Terrace. Harvest has secondary offices in California, Indiana, Michigan and Pennsylvania.

Harvest provides its clients, the majority of whom are individuals, with investment management and financial planning services. Along with these tailored advisory services, the firm also has a number of portfolio models that it uses. As a fee-based firm, certain on-staff advisors can receive commissions from the sale of insurance products.

Harvest Investment Services Background

Harvest Investment Services has been in business since 2011 and is principally owned by its parent company, Harvest Financial Planning, LLC, which is, in turn, owned by the firm's founder and managing director, Tim J. Newell. Newell has nearly 40 years of experience in the financial services industry.

The team of advisors at this firm boasts a number of advisory certifications. These include certified financial planner (CFP), accredited investment fiduciary (AIF), certified kingdom advisor (CKA), certified estate planner (CEP), certified investment management analyst (CIMA) and more.

Harvest Investment Services Client Types and Minimum Account Sizes

Harvest Investment Services currently works almost entirely with non-high-net-worth individual clients. The rest of the firm's client base is comprised of individuals with a high net worth

Harvest Investment Services generally requires a $25,000 minimum account size. However, the firm may decide to waive or reduce its minimum at its discretion.

Services Offered by Harvest Investment Services

Harvest Investment Services works with clients through its financial planning and investment management services. Advisors provide investment management by tailoring investment strategies to the needs of each client. The firm also uses AlphaSolutions investment models to help clients grow their assets according to a preset portfolio plan. Harvest tends to manage assets on a discretionary basis.

The firm's financial planning services may include a wide variety of financial topics. These advisory arrangements may be broad or narrow in scope, depending upon the client's wishes. Specific financial planning services include:

  • Education planning
  • Retirement planning
  • Cash flow planning and analysis
  • Debt management
  • Business planning
  • Charitable giving planning

Harvest Investment Services Investment Philosophy

Harvest Investment Services tailors its investment management services to the goals of each individual client. Advisors meet with new and existing clients to determine their desired investment strategies based on their risk tolerance, time horizon, income needs and other important investor characteristics. Advisors may invest a client's assets in a custom portfolio, or they may decide to use one or more AlphaSolutions model portfolios.

When it comes to specific investment strategies, advisors at Harvest pick from a variety of options. The firm's Actively Managed Tactical Strategy is its most commonly used, and it couples global capital appreciation strategies and risk control tactics. Advisors also use charting analysis, technical analysis, fundamental analysis and cyclical analysis when making final investment decisions. They use several methods when buying and selling securities, including long- and short-term purchases, short sales and option writing.

Fees Under Harvest Investment Services

Harvest Investment Services charges fees for investment management services based on an annual percentage of each client's total AUM. The firm utilizes a single fee schedule for its these sevices. For reference, a 2018 study by RIA in a Box shows the average annual advisory fee is 0.95% of AUM.

Harvest Investment Services Fee Schedule
Portfolio Value Maximum Annual Fee
First $50,000 2.60%
$50,000 - $100,000 2.55%
$100,000 - $250,000 2.30%
$250,000 - $500,000 2.05%
$500,000 - $750,000 1.80%
$750,000 - $1,000,000 1.60%
$1,000,000 - $1,500,000 1.30%
$1,500,000 - $2,000,000 1.05%
Above $2,000,000 Negotiable

Below is an overview of what you can expect to pay if you become a client at Harvest. Note that fee rates for all balances of $2 million and up are negotiable, so an estimate cannot be made in some instances.

*Estimated investment management fees do not include brokerage, custodial, third-party manager or other fees, which can vary in amount.
Estimated Investment Management Fees at Harvest Investment Services*
Your Assets Harvest Investment Services Maximum Fee Amount
$500K $11,150
$1MM $19,650
$5MM Negotiable
$10MM Negotiable

When it comes to financial planning services, Harvest charges hourly or fixed fees. Hourly fees typically won't exceed $500 per hour and fixed fees generally range up to $10,000 per engagement.

What to Watch Out For

Harvest Investment Services does not have any disclosures listed on its Form ADV.

Harvest is a fee-based firm. In turn, some advisors at the firm may receive commissions from the sale of insurance products if they're also registered as insurance agents. The potential conflict of interest this creates is offset by the fact that the firm is a fiduciary, which legally obligates it to act in clients' best interests at all times.

Opening an Account With Harvest Investment Services

Those looking to open an account with Harvest Investment Services should go to the firm's website and submit a contact form. You can also call the firm at (630) 613-9230 if you prefer working over the phone.

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

Retirement Planning Tips

  • SmartAsset’s free tool matches you with up to three vetted financial advisors who serve your area, and you can have a free introductory call with your advisor matches to decide which one you feel is right for you. If you’re ready to find an advisor who can help you achieve your financial goals, get started now.
  • If you're unsure of where you stand in your retirement savings journey, try using SmartAsset's free retirement calculator. All you need to know is where you want to retire, your annual income, how much you expect to spend in retirement, your monthly savings and your Social Security election age.

How Long $1mm 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 analyzed data on average expenditures for seniors, cost of living and investment returns to determine how many years of retirement a $1 million nest egg would cover in cities across America.

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%. 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