HighPoint Planning Partners, also known as HighPoint Advisor Group (HPAG), is a large financial advisor firm located in Downers Grove, Illinois, just outside of Chicago. Through a network of affiliated advisors, the firm manages a large pool of client assets and offers both financial planning and consulting. HighPoint also provides services for retirement plan sponsors and participants.
This firm is well known in the Chicago area. It was recently named to the Financial Times' 2020 list of the 300 Top Registered Investment Advisors (RIAs) in the U.S.
HighPoint Planning Partners Background
HighPoint Planning Partners has been in business since 2012. While the firm's legal name is HighPoint Advisors Group, it conducts business as HighPoint Planning Partners. In 2016, the firm was purchased by Craig Ibrahim and Martin Campbell, who both still own the firm as its partners.
In addition to its headquarters in Downers Grove, HighPoint has offices in six other cities across Illinois, including Chicago. The firm is partnered with LPL Financial, a broker-dealer, and its advisory representatives are typically registered with LPL as well.
HighPoint Planning Partners Client Types and Minimum Account Sizes
HighPoint works with thousands of clients. Individuals with less than a high net worth make up the majority of the firm's client base, while high-net-worth individuals also comprise a sizable chunk. Institutional clients include pension and profit-sharing plans, trusts, estates, charitable organizations and corporations.
HighPoint has a relatively low $5,000 account minimum for its base services. Note that certain programs, like the ones offered through LPL, have different requirements. This base minimum may be waived or negotiated at the discretion of the firm.
Services Offered by HighPoint Planning Partners
HighPoint Advisor Group provides clients with a range of services, including financial planning, consulting and asset management. Asset management services are provided on either a discretionary or a non-discretionary basis. The firm will occasionally work with third-party money managers as well.
Financial planning and consulting services may include the following and may be either short-term or long-term in nature:
- Cash management
- Risk management
- Insurance planning
- Education fund planning
- Retirement planning
- Estate and charitable gift planning
- Capital needs planning
This firm also provides access to wrap fee accounts through LPL.
HighPoint Planning Partners Investment Philosophy
HighPoint Advisor Group, like many other advisory firms that provide individualized client services, looks to tailor its investment management services based on the client's financial situation and objectives. Advisors work with clients to determine their financial situation, such as their tolerance for risk, time horizon, desired investment strategies and any reasonable investment restrictions.
Advisors use this information to craft personalized investment portfolios for all clients. Mutual funds, exchange-traded funds (ETFs), individual debt securities, equity securities and real estate investment trusts (REITs) are among the most common investments at HPGA. Advisors tend to use fundamental analysis and long-term trading strategies to drive growth in client portfolios.
Fees Under HighPoint Planning Partners
HighPoint Advisor Group charges fees to clients in a number of ways, including through fixed rates, hourly rates and rates based on a percentage of the client's assets under management (AUM). Fees for asset management services, including wrap program accounts, are charged as an annual percentage of each client's AUM, with rates ranging from 0.15% to 2.20%. The rate you receive is negotiable depending on the range and scope of services being provided.
|*Estimated investment management fees may not include brokerage, custodial, third-party manager or other fees, which can vary in amount.|
|Estimated Investment Management Fees at HighPoint Advisor Group*|
|Your Assets||HighPoint Advisor Group Fee Amounts|
|$500K||Up to $11,000|
|$1MM||Up to $22,000|
|$5MM||Up to $110,000|
|$10MM||Up to $220,000|
Financial planning fees are typically fixed or hourly. Hourly fees may range up to $500 per hour. Fixed fees usually vary from $500 to $20,000. Financial planning can also be obtained by paying a retainer fee on an ongoing basis of up to $20,000 per year. As is the case with asset management, specific fees are determined based on the scope of the agreement.
What To Watch Out For
There are four regulatory disclosures on HighPoint Planning Partners's SEC-filed Form ADV. Three of the disclosures are in relation to the alleged actions of advisory affiliates of the firm. The fourth disclosure indicates the firm paid a disgorgement of $508,995 and a $125,000 civil penalty after no-transaction-fee funds were allegedly used in wrap program accounts when cheaper alternatives were available.
Meanwhile, HighPoint Advisor Group is a fee-based firm, as many of its advisors are registered representatives of broker-dealers and insurance providers. This creates a potential conflict of interest, which is mitigated by the firm's status as a fiduciary advisor. This legally requires the firm to act in the best interests of clients at all times.
Opening an Account with HighPoint Advisor Group
If you're looking to work with HighPoint Advisor Group, simply call the firm at (630) 719-9222 to find out where you can find an advisor.
All information is accurate as of the writing of this article.
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