LaSalle St. Investment Advisors is a large network of financial advisor firms. Rather than work with clients directly, LaSalle St. partners and works with independent financial advisor firms, who then use the firm's services with their own clients.
LaSalle St. Investment Advisors is based in Elmhurst, Illinois, an outer suburb of Chicago. LaSalle St. and its network of advisors provides clients with both financial planning and investment management. Its indirect client base is made up primarily of non-high-net-worth individuals, though advisors work with institutional clients and high-net-worth individuals, as well.
LaSalle St. Investment Advisors Background
LaSalle St. Investment Advisors can trace its roots back to 1999, when it began operations. LaSalle provides services through its network of independent advisors, as it partners with them to provide office support and investment programs. The firm's team of executives includes president John W. McDermott, chief investment officer (CIO) James C. Baldwin III, sernior vice president and chief financial officer (CFO) Daniel Schlesser and senior vice president Mark Contey.
LaSalle St. Investment Advisors Client Types and Minimum Account Sizes
Through its firm network, LaSalle St. Investment Advisors works with both institutional and individual clients. Of this client base, non-high-net-worth individuals make up the majority. The firm also works with a small number of high-net-worth individuals, as well as charities, pension and profit-sharing plans and businesses.
To use a LaSalle St. investment management program at one of its network firms, you'll need to meet its $25,000 minimum investment requirement. This minimum may be waived at the discretion of the firm.
Services Offered by LaSalle St. Investment Advisors
LaSalle St. Investment Advisors' network of independent financial advisors provides clients with both financial planning and investment management services. The specifics of these services depend on the individual financial advisor that you're a client of. Here's a breakdown of the investment programs available through this firm:
- LaSalle St. Asset Management Program (LAMP)
- Managed Program
- Income Portfolio Strategies
- Briscoe Financial
- Talarico and Associates
- GuideTrack APP Managed Fee Program
- Salt Creek Investors (SCI)
- Streamline Portfolio Management Program
Firms also offer services through third-party money managers, and there are a number of wrap fee programs available. LaSalle St. also provides retirement plan consulting services for plan sponsors and participants.
LaSalle St. Investment Advisors Investment Philosophy
Advisors who are part of the LaSalle St. network typically provide clients with tailored advisory services. Advisors may meet with clients to determine their goals and objectives, taking note of their risk tolerance, time horizon, desired investment strategies and any other important information.
Because LaSalle works with a multitude of firms, your advisor may use a wide range of securities to flesh out your portfolio. Advisors also use different methods of analysis and asset allocation plans.
Fees Under LaSalle St. Investment Advisors
Fees for investment management services vary significantly at LaSalle St. Investment Advisors. Fee schedules are broken out by program, and fees are charged based on a percentage of each client's total AUM:
| LAMP and Managed Program Fees | |
| Portfolio Value | Base Fee |
| First $250,000 | 2.50% |
| $250,000 - $500,000 | 2.25% |
| $500,000- $1,000,000 | 2.00% |
| $1,000,000 - $2,000,000 | 1.80% |
| $2,000,000 - $5,000,000 | 1.60% |
| $5,000,000 - $10,000,000 | 1.40% |
| Above $10,000,000 | Negotiable |
| Income Portfolio Strategies Program Fees | |
| Portfolio Value | Base Fee |
| First $100,000 | 2.00% |
| $100,000 - $250,000 | 1.50% |
| $250,000- $500,000 | 1.25% |
| $500,000 - $1,000,000 | 1.00% |
| $1,000,000 - $2,000,000 | 0.80% |
| $2,000,000 - $5,000,000 | 0.65% |
| $5,000 - $10,000 | 0.50% |
| Above $10,000,000 | Negotiable |
| Briscoe Financial Fees | |
| Portfolio Value | Base Fee |
| First $2,000,000 | 2.50% |
| Above $2,000,000 | 1.50% |
| Talarico and Associates Fees | |
| Portfolio Value | Base Fee |
| First $250,000 | 2.50% |
| $250,000 - $500,000 | 2.25% |
| $500,000- $1,000,000 | 2.00% |
| $1,000,000- $2,000,000 | 1.80% |
| $2,000,000 - $5,000,000 | 1.60% |
| $5,000,000 - $10,000,000 | 1.40% |
| Above $10,000,000 | Negotiable |
| GuideTrack APP Fees | |
| Portfolio Value | Base Fee |
| Up to $500,000 | 0.70% |
| Above $500,000 | Negotiable |
| SCI Active Allocation Fees | |
| Portfolio Value | Base Fee |
| Up to $1,000,000 | 1.40% |
| $1,000,000 - $3,000,000 | 1.30% |
| $3,000,000 - $10,000,000 | 1.25% |
| $10,000,000 - $30,000,000 | 1.20% |
| SCI Passive ETF Allocation Fees | |
| Portfolio Value | Base Fee |
| Up to $1,000,000 | 1.00% |
| $1,000,000 - $3,000,000 | 0.90% |
| $3,000,000 - $10,000,000 | 0.80% |
| Above $10,000,000 | 0.70% |
| Streamline Portfolio Management Program Fees | |
| Portfolio Value | Base Fee |
| First $500,000 | 1.50% |
| $500,000 - $1,000,000 | 1.20% |
| $1,000,000- $5,000,000 | 0.90% |
| $5,000,000- $10,000,000 | 0.80% |
| $10,000,000 - $25,000,000 | 0.70% |
| Above $25,000,000 | 0.50% |
There are additional transaction fees that clients may incur as well. Financial planning fees are typically charged on an hourly or flat fee basis. The firm's hourly fee is $150 per hour, while fixed fees range from $700 to $5,000.
What to Watch Out For
LaSalle St. Investment Advisors has three disclosures listed on its Form ADV. In 2019, the firm was cited by the U.S. Securities and Exchange Commission (SEC) for allegedly failing to adquately disclose to clients conflicts of interest related to 12b-1 fees and the selection of mutual fund share classes. As a result, the firm refunded $435,178.03 in fees to affected cleints and submitted to a censure.
LaSalle St. is a fee-based firm, as some advisors in its network can receive commissions from the sale of securities and insurance products. Despite the potential conflicts of interest that may come along with this form of compensation, the firm is a registered fiduciary, meaning it is legally obligated to act in the best interests of clients at all times.
Opening an Account with LaSalle St. Investment Advisors
You cannot open an account with LaSalle St. Investment Advisors directly. Instead, you'll need to open an account with an independent advisor who's part of the firm's network. However, you can fill out a contact form on the LaSalle St. Investment Advisors website.
All information is accurate as of the writing of this article.
Tips for Finding a Financial Advisor
- Finding a qualified financial advisor doesn’t have to be hard. SmartAsset’s free tool matches you with up to three 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.
- If you have a financial goal for the future in mind, consider using SmartAsset's investment calculator to figure out what kinds of returns you'll need to get there.
