Top Financial Advisors in Illinois

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Mesirow Financial Investment Management is a large fee-based investment advisor headquartered in Chicago and the No. 1 practice in the state. The firm provides financial services to a wide range of clients including individuals, high-net-worth individuals, retirement plans, investment companies, pension plans, charitable organizations, government entities, insurance companies, endowments and corporations.

The Mesirow team includes certified financial planners (CFPs), chartered financial analysts (CFAs), accredited investment fiduciaries (AIFs). However, in addition to the fees that advisory clients pay the firm, certain advisors at Mesirow may receive commissions or third-party compensation when recommending certain products and services, like insurance or securities. This creates a conflict of interest, since advisors have a financial incentive to make certain recommnedations. Then again, Mesirow must follow its fiduciary duty to always act in its clients' best interests. 

There is no account minimum.

Mesirow Financial Investment Management Background

Mesirow Financial Investment Management can trace its roots all the way back to 1937s, making it one of the oldest firms on our list. Since then, it has built a big financial services unit delivering support to everyone from individuals to institutional clients. The firm, as its constituted today, was established in 1986. 

Today, the firm has offices in more than 20 cities around the world. More than 500 employees keep the company running, according to the firm’s website. The business is owned by Mesirow Financial Services, a wholly-owned subsidiary of Mesirow Financial Holdings, Inc. 

Depending on your needs and objectives, the firm may offer the following services:

• Portfolio management 
• Debt management
• Retirement savings
• Short-term investing
• College funding
• Building emergency funds
• Insurance
• Tax situation
• Estate planning
• Social Security

Mesirow Financial Investment Management Investment Strategy

The firm kicks off its investment services by helping clients develop a goals-based investment plan that takes into account the client’s entire financial picture. It then builds a customized investment portfolio with an asset allocation it deems appropriate. The firm also monitors this portfolio on an ongoing basis. 

According to the firm’s website, Mesirow “believes this combination creates the best foundation for attractive long-term rates of return, helping our clients meet their wealth management objectives.”

Client portfolios are primarily invested in U.S. exchange-traded domestic common equity securities. The firm's strategies aim to achieve total return by investing common stocks that appear to be undervalued relative to the stock market as a whole. 

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Fiducient Advisors serves mostly high-net-worth individuals and families as well as their related trusts and estates. It also extends its services to non-high-net-worth individuals, institutional clients, large retirement plan sponsors, charitable organizations and corporations. 

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

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.

Fiducient Advisors Background

Fee-only 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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Cresset Asset Management is a large fee-only advisory practice based in Chicago. The firm manages assets for individuals and high-net-worth individuals, as well as pooled investment vehicles and at least one government entity. 

Cresset offers various advisory services, and it mainly charges clients asset-based fees and fixed fees. Advisors do not receive sales commissions or third-party compensation for recommending certain products or services. Cresset also doesn’t impose a minimum account size requirement.

As for its team, advisors’ qualifications feature certified financial planners (CFPs), chartered financial analysts (CFAs), certified private wealth advisors (CPWAs), certified public accountants (CPAs), certified investment management analysts (CIMAs), among others. 

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 comprises five wholly-owned subsidiaries, including: Cresset Asset Management Acquisition, LLC, Cresset Management Services, LLC, Cresset Evanston Advisors, LLC, Cresset Tax Services, LLC, Cresset Cypress Wealth Advisors, LLC, Cresset PKP, LLC, and Cresset AMA, LLC. Cresset Intermediate Holdco LLC owns Cresset Asset Management.

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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Segall Bryant & Hamill (SBH) provides financial consulting and investment advisory services to a range of clients including individuals and high-net-worth individuals, investment companies, pooled investment vehicles, pension and profit sharing plans, charitable organizations, government entities, businesses and corporations. 

Account minimums at SBH range from $100,000 for enrollment in the firm's wrap fee program to $1 million for individual relationships. 

The firm’s wealth management division holds multiple certifications, including the certified financial planner (CFP), chartered financial analyst (CFA), certified public accountant (CPA) and chartered insurance counselor (CIC) designations. 

Some SBH employees may sell or recommend certain securities as registered representatives of Foreside Fund Services, making SBH a fee-based practice. These advisors may earn commissions through these business practices, in addition to the advisory fees that you will pay them. Nonetheless, SBH has a fiduciary duty and is legally obligated to work in your best interests at all times. 

Segall Bryant & Hamill Background

SBH was founded in 1994. The firm is a wholly-owned subsidiary of CI US Holdings INC, a subsidiary of CI Financial Corp. While SBH is headquartered in Chicago, the firm also runs offices in Denver, St. Louis, Philadelphia and Naples, Florida. 

SHB provides investment advice to individual and institutional clients, including registered investment companies. The firm also has wrap free programs, model portfolios and a variety of equity and fixed income strategies. 

Segall Bryant & Hamill Investment Strategy

When it comes to building and managing your portfolio, SBH may utilize a number of investing strategies based on several factors such as your risk appetite and investment goals. Your portfolio may be constructed with equities, fixed income, mutual funds, alternative investments or a mix of all. 

SBH considers a broad pool of the securities universe when building your portfolio. For instance, its equity portfolios can be built with small, mid or large-cap stocks.

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Savant Wealth Management is a fee-only firm that serves a large client base of both high-net-worth individuals and non-high-net-worth individuals. Insitutional clients also include pension and profit sharing plans, charitable organizations, investment advisers 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 millionof 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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Capital Strategies Investment Group (CSIG) is a fee-only firm that manage 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, corporations and businesses. 

The firm’s team features three chartered financial analysts (CFAs), two accredited investment fiducairies (AIFs) and one certified private wealth advisor (CPWA). 

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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Gresham Partners is a fee-only firm that primarily serves high-net-worth individuals and institutional clients, including pooled investment vehicles and charitable organizations. 

The firm requires clients to have at least $180,000 in order to open and maintain an account. The firm collects fees based on a percentage of assets under management. These annual fees start at 0.75% and eventually dip to 0.3% for those with more than $50 million in their accounts. The firm's advisors do not earn commissions when  recommending financial products and services. 

Gresham Partners employees hold a wide range of professional certifications, including the following designations:

• Certified public accountant (CPA)
• Personal financial specialist (PFS)
• Certified investment management analyst (CIMA)
• Chartered financial analyst (CFA)
• Certified financial planner (CFP)

Gresham Partners Background

Gresham Partners began doing business in 1997. Today, Gresham is wholly owned by 15 principals. The firm is named after Sir Thomas Gresham, founder of the Royal Exchange and an advisor to Elizabeth I and two other British monarchs.

Gresham Partners Investment Strategy

Gresham Partners begins its investment advisory services by having several meetings with clients to velop a proper strategy around topics like asset allocations. It considers factors like a client’s risk appetite, net worth, philanthropic goals, liquidity requirements and more. 

It then seeks a proper investment manager and evaluates it by gauging the manager’s investment approach among other points. According to documents that Gresham filed with the SEC, “The Company tends to select experienced managers with broad mandates who can take relatively concentrated positions based on careful fundamental analysis and tend to have a limit on the amount of capital they will accept, but other types of managers may be selected.”

The firm monitors these managers on an ongoing basis.

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Gofen and Glossberg is a fee-only firm that manages assets primarily for individuals and high-net-worth individuals, as well as pension and profit sharing plans, charitable organizations and corporations.

The firm’s advisory team holds multiple certifications, including the certified public accountant (CPA), chartered financial analyst (CFA) and chartered investment counselor (CIC) designations. 

The Gofen and Glossberg’s advisory fees include asset-based fees and fixed fees. The firm typically requires clients have $1 million to open an account. 

Gofen and Glossberg Background

Founded in 1932, Gofen and Glossberg is the oldest firm on this list. As of Dec. 31, 2021, the firm is a wholly-owned subsidiary of CI Private Wealth US, LLC, which in turn is owned by CI Financial Corp. Advisory services include portfolio management and financial planning, but Gofen and Glossberg also provides consulting services and general advice. 

Gofen and Glossberg Investment Strategy

Gofen and Glossberg says it uses fundamental research, macroeconomic analysis and technical research to evaluate and select investments. Investment strategies include long-term purchases, short sales, short-term trading, margin transactions and options strategies. 

The firm invests primarily in exchange-traded equities, over-the-counter equities, foreign issuers, warrants, corporate bonds, commercial paper, certificates of deposit (CDs), municipal bonds, mutual funds, annuities, U.S. Government securities and securities options.

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Next on our list is the The Mather Group, a fee-only practice requiring a minimum portfolio size of $1 million for new clients. The firm primarily works with individual clients, the majority of whom have a high net worth. The Mather Group also has some retirement plans and charitable organizations as clients.

Fees for asset management are based on a percentage of assets under management, while financial planning and family office fees are typically charged a predetermined fixed fee.

Advisors at the firm have earned a range of professional certifications, including certified financial planner (CFP), certified equity professional (CEP), chartered financial analyst (CFA), accredited investment fiduciary (AIF), certified public accountant (CPA), chartered retirement planning counselor (CRPC) and chartered alternative investments analyst (CAIA).

The Mather Group Background

Founded in 2011, The Mather Group is owned by Mather Holdings, LLC. It recently acquired three other firms with a total of more than $250 million in assets under management. The Mather Group is also recognized as one of the top firm isn Chicago. 

Services offered at the firm include portfolio management, financial planning, an online platform, family office services, tax planning/preparation, estate planning and executive services.

The Mather Group Investment Strategy

The Mather Group manages model portfolios using a variety of equity and fixed income securities, utilizing an evidence-based approach. Like most financial adisors, the firm manages accounts in accordance with a client's investment objectives, risk tolerance and other relevant information gathered when a new client joins the firm. 

The firm's investment strategy is grounded in the tenets of modern portfolio theory and built upon academic evidence supporting efficient markets. Advisors typically allocate client assets across global stocks, bonds and other investments to minimize volatility. "Global diversification across countries, sectors, or industries, is as important as diversification across asset classes and style factors," The Mather Group states in its firm brochure.  

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The 10th and final firm on our list of the top practices in Illinois is Forum Financial Management, a fee-based firm that mostly works with individuals and high-net-worth individuals. Forum also has retirement plans, charitable organizations and other investment advisors as clients. The firm generally requires clients have at least $25,000 to open and maintain an account. 

For portfolio management, the firm charges a fees that's based on how much money a client has under management. Financial planning is typically offered in connection with asset management at no additional charge. However, as a fee-based firm, some Forum advisors may earn commissions or third-party compensation for recommending certain insurance products or securities. While this creates a conflict of interest, the firm must abide by fiduciary duty and act in its clients' best interests. 

Forum employees hold a range of financial certifications, including the following designations:

• Certified financial planner (CFP)
• Certified divorce financial analyst (CDFA)
• Certified public accountant (CPA)
• Charterd financial counselor (ChFC)
• Enrolled agent (EA)
• Chartered life underwriter (CLU)
• Personal financial specialist (PFS)
• Accredited investment fiduciary (AIF)
• Chartered financial analyst (CFA)

Forum Financial Management Background

Based in Lombard, Illinois, Forum Financial Management was founded in May 2002. The firm is owned by 20 different people and entities, none of whom own more than 25% of the business. 

Forum offers portfolio management, financial planning, seminars, sub-advisory services, as well as qualified plan services that provided to pensions, profit sharing plans and 401(k) plans. 

Forum Financial Management Investment Strategy

Forum manages client accounts using various model asset allocation portfolios. These model portfolios are designed to meet a particular investment goal. Each client's investment goals, and objectives and risk tolerance are established during discussions with the firm's advisors. Based on this information, Forum will determine which model portfolio is suitable to the client's circumstances. 

As for investments and asset classes, the firm primarily invests in mutual funds and exchange-traded funds offered by Dimensional Fund Advisors. "DFA's approach is based on the efficient market hypothesis. Unlike index funds, DFA's funds generally do not track a specific index and thus avoid the costs of having to buy and sell securities at specific points in time. They are designed to capture specific risk/return characteristics with reliability and transparency," the firm states in its brochure.