Johnson Wealth, Inc. - also known as Johnson Wealth - is a financial advisor firm with billions in assets under management (AUM). Johnson Wealth's home office is located in Milwaukee, Wisconsin and is one of the top financial advisors in the city and state, according to SmartAsset. The firm offers services such as financial planning and portfolio managment.
Johnson Wealth Background
Johnson Wealth Inc. is an investment advisory firm registered with the SEC. The firm's name was changed in October 2018 from Cleary Gull Advisors to Johnson Wealth The firm is a wholly-owned subsidiary of Johnson Financial Group, which is a privately held financial services company. The firm also acts as a marketing name for its subsidiaries, Johnson Bank, Johnson Wealth, Inc. and Johnson Insurance, LLC.
The firm itself was formed in 2003 but its predecessor firms have served clients all over the country since 1987. Helen Johnson-Leipold serves as chairman of Johnson Financial Group and Jim Popp serves as its president and CEO.
Johnson Wealth Client Types and Minimum Account Sizes
Johnson Wealth advises the following types of clients:
- Non-high-net-worth individuals
- High-net-worth individuals
- Not-for-profit hospitals and senior living organizations
- Public and private foundations and endowments
- Municipalities and other government entities
- Corporations or businesses
- Other investment advisors
While the firm does not generally require a minimum amount to be invested, it does recommend clients have $1 million in investable assets to allow for diversification of managers and assets. It generally requires a minimum of $200,000 per separately managed account, though certain account managers may impose a higher minimum.
Services Offered by Johnson Wealth
Johnson Wealth's investment advisory services include, but are not limited to: analysis of objectives (including customized risk budgeting), asset allocation and portfolio construction, investment policy development, investment research, evaluation and selection of investment managers, responsible investing, custodian reviews and trustee and board education. The firm manages client accounts on either a discretionary or non-discretionary basis.
Johnson Wealth Inc.'s affiliate, Johnson Bank, retains the firm at times to perform discretionary and/or non-discretionary subadvisory services for a significant percentage of its wealth management clients. These services include discretionary investment management, broad investment trends analysis, investment policy direction, asset allocation modeling, manager and fund due diligence, fixed income and equity strategy and analysis, portfolio construction advice and model portfolios.
The firm provides pre-retirement planning services to airline pilots and their famillies under its Pilot Program (including risk tolerance profiling, asset allocation design, pension benefits review, retirement timing and transition consultation).
In terms of financial planning services, the firm offers these to help clients evaluate the potential of attaining their financial goals.
Johnson Wealth Investing Philosophy
Johnson Wealth's methods of analysis for funds and mangers include screening of managers and funds using both qualitative and quantitative methods. Information sources for research include but are not limited to: research services and products of third-party providers, financial newspapers and magazines, manager interviews and conference calls or on-site visits, rating services, annual reports and other filings with the SEC, company press releases and portfolio modeling tools. The firm primarily uses an investment approach that is long-term in focus and emphasizing asset allocation.
Fees Under Johnson Wealth
Johnson Wealth offers investment advisory services for a negotiable fee based on the amount and type of assets under management in client accounts, the level of service provided to the client and the complexity and scope of services. Fees may be in the form of an asset, retainer or based on the specific project and may be subject to an annual minimum. They are usually paid quarterly in advance, according to a fee schedule set up in each client's advisory agreement. Fees are usually deducted from the client's account unless the client requests to be billed.
The standard advisory fee schedule that applies to individual clients is below:
|Johnson Wealth Individual Fee Schedule (Minimum is $5,000)|
|AUM||Advisory Fee Rate|
|On the Balance||0.60%|
Here is the estimated dollar amount you'd pay in advisory fees based on the size of your account:
|*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 Johnson Wealth*|
|Your Assets||Johnson Wealth Maximum Fee Amount|
Johnson Wealth only offers financial planning services to clients who do not engage the firm to manage assets. Clients pay these planning fees based on the complexity of the plan. Clients are responsible for other fees and charges imposed by third parties. Learn more about advisors' typical costs here.
What to Watch Out For
Within the past 10 years, Johnson Wealth has not undergone any disciplinary or legal action deemed material to a client’s evaluation of its business integrity. You can view its latest Form ADV on the official website of the Securities & Exchange Commission (SEC).
It is important to note that advisors at Johnson Wealth Inc., Johnson Bank and Johnson Insurance refer clients to each other in order to offer a full range of financial services to their clients. As a result, certain officers and employees of the firm or its affiliates receive referral fees and/or compensation for referring clients between these affiliated services, which is a potential conflict of interest. That said, as an SEC-registered investment advisor, the firm is legally obligated to uphold its fiduciary duty and work in clients’ best interests at all times.
Opening an Account With Johnson Wealth
To open an account with Johnson Wealth, you can visit the firm's website or call (414) 291-4500.
All information is accurate as of the writing of this article.
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