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Liberty Financial Group Review

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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.

Liberty Financial Group is a fee-only firm based in Elm Grove, Wisconsin managing money for individuals. Most of the firm’s clients are non-high-net-worth individuals, though a small number of high-net-worth clients are also at the firm.

Liberty Financial Group Inc. Background

Liberty was founded in 1981. Since 2021, the sole owner of the firm is Shannon Nook. Certifications at the firm include two certified financial planners (CFPs), one chartered financial analyst (CFA) and one financial paraplanner qualified professional (FPQP).

Investment Minimum and Client Types

Most of the clients at Liberty are individuals who are not high-net-worth. There are also a small number of high-net-worth clients. There are no institutional clients at Liberty.

There is no minimum account size at Liberty. There is a minimum annual fee of $4,500.

Services Offered by Liberty Financial Group Inc. 

Liberty offers the following services to clients:

  • Investment management
  • Financial planning
  • Mortgage selection
  • College funding planning
  • Risk management
  • Estate planning
  • Tax planning
  • Retirement preparation and planning
  • Annual tax loss review
  • Financial decisions on major purchases

Investment Philosophy

Advisors at Liberty measure investors risk tolerance, time horizon, goals and objectives by interviewing them and giving questionnaires. Generally, it approaches investment conservatively and looks for long-term choices.

Mutual funds are the preferred investment for tax deferred accounts, while individual securities and exchange traded funds (ETFs) are the preferred choice for taxable accounts.

Fees Under Liberty Financial Group Inc. 

There are two types of fees charged by Liberty. The first is an investment management fee based on assets under management. A fee of 1% is charged on assets up to $1 million and 0.75% is charged on all assets over $1 million.

Another plan is available where there is an asset-based annual retainer fee.

The table below shows what an investor will owe at different investment levels:

*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 Liberty Financial Group*
Your Assets Liberty Financial Group Fee Amounts
$500K $5,000
$1MM $10,000
$5MM $40,000
$10MM $77,500

What to Watch Out For

This is a fairly small firm with only a few advisors. If you are looking for a firm with lots of resources and connections to major financial institutions, this firm doesn’t have that.

There are no disclosures on the record at Liberty in the past 10 years.

Opening an Account With Liberty Financial Group Inc. 

Contact the firm at (262) 785-1377 or

Tips for Investment

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  • Once you start investing, you should make sure to know what your investment might look like down the road. See how it might grow with SmartAssets free investment calculator.

All information was accurate as of the writing of this article. 

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