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The Top Financial Advisors in Lake Forest, IL

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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.

Finding a Top Financial Advisor Firm in Lake Forest, IL

Because it can be challenging to find the right firm for you, we’ve researched and created a list of Lake Forest’s top firms based on a number of factors. In our review, we identify and compare each firm’s fee structure, assets under management (AUM), advisory services and more. Finding a financial advisor doesn’t have to be hard. SmartAsset’s free tool matches you with up to three vetted financial advisors who serve your area, and you can interview your advisor matches at no cost to decide which one is right for you. If you’re ready to find an advisor who can help you achieve your financial goals, get started now.


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Rank Financial Advisor Assets Managed Minimum Assets Financial Services More Information
1 Crescent Grove Advisors, LLC Crescent Grove Advisors, LLC logo Find an Advisor

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$3,912,910,263 No set account minimum
  • Portfolio management
  • Financial planning

Minimum Assets

No set account minimum

Financial Services

  • Portfolio management
  • Financial planning
2 TSFG, LLC TSFG, LLC logo Find an Advisor

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$577,279,547 $100,000
  • Financial planning
  • Portfolio management
  • Selection of other advisors (including private fund managers)

Minimum Assets


Financial Services

  • Financial planning
  • Portfolio management
  • Selection of other advisors (including private fund managers)
3 North Shore Private Asset Management, LLC North Shore Private Asset Management, LLC logo Find an Advisor

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$349,472,894 No set account minimium
  • Financial planning
  • Portfolio management
  • 401(k) advisory and consulting services

Minimum Assets

No set account minimium

Financial Services

  • Financial planning
  • Portfolio management
  • 401(k) advisory and consulting services

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What We Use in Our Methodology

To find the top financial advisors in Lake Forest, we first identified all firms registered with the SEC in the city. Next, we filtered out firms that don't offer financial planning services, those that don't serve primarily individual clients and those that have disclosures on their record. The qualifying firms were then ranked according to the following criteria:

  • AUM
    Firms with more total assets under management are ranked higher.
  • Individual Client Count
    Firms who serve more individual clients (as opposed to institutional clients) are ranked higher.
  • Clients Per Advisor
    Firms with a lower ratio of clients per financial advisor are ranked higher.
  • Age of Firm
    Firms that have been in business longer are ranked higher.
  • Fee Structure
    Firms with a fee-only (as opposed to fee-based) compensation structure are ranked higher.

All information is obtained through public records and is updated annually after the firms’ form ADV filing. This list may include firms that have a business relationship with SmartAsset, in which SmartAsset is compensated for lead referrals. Such relationships have no impact on our rankings, and firms are included and ranked based strictly on the above criteria. SmartAsset is not a client of the aforementioned firms, and did not receive compensation for including any of the firms on the aforementioned list.

Crescent Grove Advisors, LLC

Crescent Grove Advisors, a fee-based firm, serves primarilly high-net-worth individuals. However, the firm also works with some non-high-net-worth clients, charitable organizations, corporations, as well as friends and family clients. Its minimum account size varies based on the type of services you receive, but is generally either $1 million or $10 million. 

The firm’s team holds multiple certifications, including the chartered financial analyst (CFA), certified financial planner (CFP) and certified public accountants (CPAs) designations.

For investment management, the firm charges an asset-based fee. For financial planning and consulting it generally charges an hourly or fixed fee. Several staff members are also licensed insurance agents who earn commissions on certain transactions, creating a conflict of interest. Despite the financial incentive of commissions, Crescent advisors have a fiduciary obligation to always act in its clients' best interests. 

Crescent Grove Advisors Background

Crescent Grove Advisors was established in 2015 as a wholly owned subsidiary of Crescent Grove Holdings, LLC. The firm’s managing directors are Gregg George, David Keevins and Nick Kochanski. In addition to its headquarters in Lake Forest, Crescent has offices in Milwaukee and Atlanta. 

This firm mainly specializes in investment management, financial planning, family office services and independent manager referrals. Specifically, the firm can help with:

  • Business planning
  • Cash flow forecasting
  • Trust and estate planning
  • Financial reporting
  • Benefit plan advice
  • Insurance consulting
  • Retirement planning
  • Risk management
  • Charitable giving
  • Family business succession planning
  • Tax planning and preparation
  • Manager due diligence

Crescent Grove Advisors Investment Strategy

Crescent says it takes an asset allocation approach to investing. The firm focuses on the value of long-term strategic asset allocation combined with shorter-term tactical allocation investment decisions, according to its firm brochure. 

The firm examines each client’s investment goals, income requirements, acceptable risk tolerances, tax bracket and status, time horizon, governing documents and any other relevant factors. After that the advisor sets the target asset allocation. 

The firm typically allocates client assets among mutual funds (open and closed-end), exchange-traded funds, separately managed accounts, structured notes, derivatives and private placement partnerships that operate within the constraints of the the client's plan.



TSFG, formerly known as Alchemy Advisors, is a fee-based firm that requires clients maintain a minimum asset level of $100,000. The firm's client base primarily comprises non-high-net-worth individuals, but the firm does work with high-net-worth individuals, pension and profit-sharing plans, charitable organizations and corporations.

Since TSFG advisors are also representatives of a broker-dealer and/or licensed insurance agents, they earn commissions on certain transactions. As a result, TSFG is a fee-based practice. Despite the conflict of interest that commission-based compensation can create, TSFG has an obligation to always serve its clients' best interests. 

TSFG Background

Founded in 2014 as Alchemy Holdings, the firm was purchased by TSFG, LLC in March 2018. Daniel Nagel, Daniel Bouska, Jeffrey Feinendegen and Mike Gibbons are equal owner of the firm.

TSFG offers discretionary investment advisory services, which may include a wrap fee program. The firm also can work with clients to find independent investment managers. TSFG can also provide financial planning services that may touch on a client's life insurance needs, retirement planning, education planning and other financial needs. 

TSFG Investment Strategy

TSFG invests a large majority of client assets in stocks, bonds, exchange-traded funds (ETFs), exchange-traded notes, options and mutual funds. The firm selects securities using fundamental analysis, which attempts to measure the intrinsic value of a security by examing economic and financial factors.  

"Additionally, our investment decisions always give consideration to both the prospects for return on investment and the risk of loss on investment," the firm states in its Form ADV brochure. "In considering the risk of loss, we contemplate both the probability of loss and the potential magnitude of such loss."

North Shore Private Asset Management, LLC

North Shore Private Asset Management is a fee-based advisory that serves both non-high-net-worth and high-net-worth individuals, as well as government entities, corporations and insurance trusts.

The team at North Shore holds multiple certifications, including chartered financial analyst (CFA), accredited investment fiduciary (AIF) and accredited asset management specialist (AAMS) designations. However, keep in mind that some advisors at North Shore may receive commissions when recommending certain products and services, which can lead to a conflict of interest.

North Shore imposes a minimum account size requirement of $1 million for those engaging in custom portfolio management services. The firm typically does not require a minimum account size for its asset allocation services.  

As for the firm’s investment advisory fees, it charges a percentage of assets. For financial planning and consulting, its fee is on an hourly or fixed basis. 

North Shore Private Asset Management Background

Founded in 2004 by David H. Melsheimer, North Shore offers discretionary and non-discretionary investment management services on a continuous basis. The firm also provides financial planning and advisory and consulting services. Melsheimer, who serves as president and chief investment officer, remains the sole owner of the business. 

North Shore Private Asset Management Investing Strategy 

North Shore delivers investment advice that’s guided by fundamental analysis, technical analysis, charting analysis and cyclical analysis. The firm’s investment strategies include long-term purchases, short-term purchases, trading, short sales, margin transactions and option trading.

The firm generally provides advice on exchange-listed securities, securities traded over-the-counter, securities issued by foreign entities, warrants, corporate debt securities, commercial paper, certificates of deposit, municipal securities and various other investments.

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