Liberty Financial Group is a fee-only advisory firm based in Elm Grove, Wisconsin, managing money exclusively 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 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).
Liberty Financial Group 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, however, the firm does charge a minimum annual fee of $4,500. As a result, clients with less than $450,000 in assets under management (AUM) could end up paying an asset-based advisory fee that's well above 1% of their AUM.
Services Offered by Liberty Financial Group
Liberty offers the following services to clients, which it lists on its website:
- Ongoing asset and investment management
- Long-range and lifestyle planning
- Cash-flow planning
- Investment planning second opinions
- Estate planning
- Retirement planning strategies
- Insurance needs analysis
- Advice on employee stock options
- College funding strategies
- Lump-sum distribution advice
Liberty Financial Group Investment Philosophy
Advisors at Liberty measure an investor's 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. The firm also relies on a mix of active and passive investment approaches when developing and implementing an asset allocation.
Fees Under Liberty Financial Group
There are two types of fees charged by Liberty. The first is an investment management fee that's 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.
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 |
The second fee structure is an asset-based annual retainer fee that can vary based on the amount of assets under management a client has at the firm, as well as the additional services they may require.
What to Watch Out For
This is a fairly small firm with only a few advisors. However, Liberty Financial Group doesn't have any disclosures of regulatory events on its record in the past 10 years. The firm also works on a fee-only basis, meaning its revenue comes from the fees you pay, not third-party commissions for selling products and services.
Opening an Account With Liberty Financial Group Inc.
If you're interested in opening an account at Liberty Financial Group, call (262) 785-1377 or send an email to info@lfgwi.com.
Investment Tips
- Financial advisors can help you make the best investment choices for you and your family. SmartAsset’s free tool matches you with up to three vetted financial advisors who serve your area, and you can have a free introductory call with your advisor matches to decide which one you feel 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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All information was accurate as of the writing of this article.
