Finding a Top Financial Advisor Firm in Milwaukee, Wisconsin
Financial advisor help their clients with a wide range of financial services, including investment management and financial planning. If you're looking for an advisor in Milwaukee, Wisconsin, SmartAsset created the list to help you pick a financial advisor that best aligns with your needs. You can also use SmartAsset's free advisor matching tool to get connected with advisors who serve your area.
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|Rank||Financial Advisor||Assets Managed||Minimum Assets||Financial Services||More Information|
|1||Johnson Wealth, Inc. Find an Advisor||$8,804,222,393||$1,000,000|| || |
|2||Wipfli Financial Advisors, LLC Find an Advisor||$4,979,403,438||No set account minimum|| || |
Minimum AssetsNo set account minimum
|3||Sadoff Investment Management, LLC Find an Advisor||$1,859,842,044||$1,000,000|| || |
|4||Diversified Management, Inc. Find an Advisor||$1,578,338,763||$500,000|| || |
|5||KLCM Advisors, Inc. Find an Advisor||$923,021,783||$500,000|| || |
|6||Northern Oak Wealth Management Find an Advisor||$966,863,383||$100,000|| || |
|7||Riverwater Partners LLC Find an Advisor||$894,906,446||$1,000,000|| || |
|8||Oarsman Capital, Inc Find an Advisor||$469,041,009||$100,000|| || |
|9||The Invictus Collective, LLC Find an Advisor||$292,228,044||No set account minimum|| || |
Minimum AssetsNo set account minimum
|10||McCarthy Grittinger Financial Group Find an Advisor||$354,677,186||No minimum account balance|| || |
Minimum AssetsNo minimum account balance
What We Use in Our Methodology
To find the top financial advisors in Milwaukee, 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:
- AUMFirms with more total assets under management are ranked higher.
- Individual Client CountFirms who serve more individual clients (as opposed to institutional clients) are ranked higher.
- Clients Per AdvisorFirms with a lower ratio of clients per financial advisor are ranked higher.
- Age of FirmFirms that have been in business longer are ranked higher.
All information is accurate as of the writing of this article. 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.
Johnson Wealth, Inc.
Johnson Wealth leads off our list of the top financial advisor firms in Milwaukee. The firm has more assets under management than any other practice on this list. It generally recommends minimum investable assets of $1 million, but will set up a separately managed account with $200,000.
It provides its services to individiuals, high-net-worth individuals, trusts, charitable organizations, government entities, other investment advisors, corporations and businesses. One of Johnson's differentiating factors is its airline pilot program, not seen elsewhere on this list. Members in the MyJFG Pilot Program can get help with wealth management and retirement planning.
Johnson Wealth Advisors Background
Johnson Wealth is an SEC-registered investment advisory firm that's part of a large network called the Johnson Financial Group. The firm was formerly known as Cleary Gull Advisors before being purchased by Johnson Financial Group on June 1, 2016. While the firm was formed in 2003, its predecessor firms have served clients since 1987.
Johnson Wealth offers clients investment management, on either a discretionary or non-discretionary basis, as well as pre-retirement services and financial planning.
Johnson Wealth Investment Strategy
Discretionary accounts are typically assigned to a portfolio model, and trades are executed en masse when there is a strategy change. Alternately, you can have a portfolio manager oversee your account. The firm may invest discretionary accounts in mutual funds, exchange-traded funds (ETFs), common stocks, fixed income securities and non-traditional (complementary or alternative) investment vehicles. It may also retain a third-party money manager.
For accounts managed on a non-discretionary basis, the firm uses a third-party technology platform that provides due diligence and a curated menu of private equity, private credit and hedge fund investment opportunities. These opportunities are offered to certain high-net-worth and business clients.
Generally, the firm's investing approach is long-term and based on asset allocation.
Wipfli Financial Advisors, LLC
Wipfli Financial Advisors (WFA) is a fee-only advisory firm whose clients are mostly individuals, including high-net-worth individuals. The firm also serves business entities, pension and profit-sharing plans, trusts, estates, charitable organizations, as well as one university's alumni association.
While the firm doesn’t require a minimum investment for its emerging investor program, it does impose a minimum annual fee of $5,000 for standard investment advisory services. Its retirement plan may have no or varying minimum fees.
WFA has a large team of advisors spread out across multiple states. Advisors hold a number of financial certifications, including the certified financial planner (CFP), accredited investment fiduciary (AIF), chartered financial analyst (CFA) designations, among others.
Wipfli Financial Advisors Background
WFA was formed in 1999 under the name of Hewins Financial Advisors. WFA is now wholly owned by Wipfli Financial, LLC. This latter firm is owned by the accounting firm Wipfli LLP.
While its headquarters are in Milwaukee, WFA has offices in Colorado, Illinois, Minnesota, Georgia, Missouri, New Hampshire, Montana, Pennsylvania and Wisconsin.
The firm offers financial planning, investment advisory services, retirement planning and insurance solutions. WFA has three different investment advisory programs available for individuals: Standard Investment Advisory Services, Avid Investor Services (designed as a digital investment advisory experience for individuals, couples and families) and Retirement Plan Services.
In addition, the firm offers individual financial planning services on topics ranging from budgeting to retirement and estate planning. You can receive either investment advisory or financial planning services on a stand-alone basis or as a bundled program.
Wipfli Financial Advisors Investment Strategy
Mainly informed by Modern Portfolio Theory, WFA's investing strategy emphasizes diversification and a long-term focus. The fim's investment committee, which is led by its chief investment officer, includes one WFA principal and two independent contractors who are seasoned investment professionals. The committee develops model portfolios and implements them using mutual funds, third-party asset managers' private investment funds and other investment vehicles. The firm does not utilize tactical or market-timing strategies, though third-party managers and funds may.
Sadoff Investment Management, LLC
Sadoff Investment Management, the No. 3 firm on our last, develops investment portfolios tailored to clients' individual circumstances and financial outlook. To open an account, you’d need a minimum initial investment of $1 million.
The firm primarily works with high-net-worth individuals. However, it also offers its services to individuals who do not have a high net worth, pension and profit-sharing plans, trusts, estates, charitable organizations, foundations, endowments, corporations and other business entities.
As a fee-only firm, Sadoff advisors do not sell financial products or insurance for commissions. The firm does not list any financial certifications on its website.
Sadoff Investment Management Background
Sadoff has been providing investment advisory services since 1978, making it the second oldest firm on our list. Founder Ronald Sadoff has been in the industry since the 1970s. He previously worked as an institutional investment and research strategist. Michael Sadoff served as senior financial analyst at Green Tree Financial Corporation.
Sadoff prioritizes investment management, so financial planning isn’t a relatively large aspect of its business.
Sadoff Investment Management Investment Strategy
Sadoff offers its investment management services only on a discretionary basis. This means advisors have full autonmy to make trades and transactions within client accounts. Once an advisor builds a client's portfolio based on risk tolerance and goals, they will monitor and rebalance the portfolio as required by changes in market conditions and the client's financial circumstances.
- Exchange-traded funds (ETFs)
- Corporate debt securities
- Municipal securities
- Money market funds
- U.S. government securities
Diversified Management, Inc.
Diversified Management is a fee-only firm whose client base is made up of individuals, high-net-worth individuals and charitable organizations. As a fee-only practice, advisors' compensation comes only from client fees, not from sales commissions paid by third parties.
Most of the firm's clients have high net worths, which is defined as having at least $1 million in investable assets. While Diversified Management requires a minimum account size of $500,000, the firm caters to clients with fewer assets through Cream City Investment Services.
All but one of the advisors at Diversified Management hold the certified financial planner (CFP) designation.
Diversified Management Background
Mark Homan founded this firm in 1993. While based in Milwaukee, Diversified Management also has an office in North Scottsdale, Arizona. Michael Schmidt serves as the president and chief compliance officer. He’s been with the firm since 1996 and owns the largest stake of the company. Four other advisors own the remaining portions of the business.
Diversified Management provides investment advisory, financial planning, and income tax services. Individual services include cash flow management, retirement planning, analysis of executive benefits, charitable giving strategies, estate planning, analysis of education funding alternatives, life insurance sufficiency analysis, investment management, tax planning and income tax return preparation.
Diversified Management Investment Strategy
Diversified Management will consider your full financial picture before designing your investment portfolio. Your asset allocation will be based on your risk tolerance, cash flow needs, financial goals, time horizon and current assets.
The firm primarily uses fundamental analysis to evaluate securities. This entails using economic and company-specific data to evaluate an investment. The company also uses Morningstar Advisor Workstation and Charles Schwab Advisor Services for information. As for asset classes, the firm typically recommends no-load mutual funds, which it believes are the most effective way to obtain exposure to exquity markets.
KLCM Advisors, Inc.
KLCM Advisors is another fee-only firm that primarily works with individuals and high-net-worth individuals. The firm's pool of clients also include charitable organizations, corporations, businesses and at least one retirement plan.
The firm generally requires a $500,000 minimum investment, but it may waive the minimum at its discretion. However, KLCM advisors do not sell financial products or insurance for commissions, which would present a conflict of interest. Instead, the firm's comensation comes from the fees that clients pay for advisory services.
The team at KLCM includes three chartered financial analysts (CFAs) and one certified public accountant (CPA).
KLCM Advisors Background
James Kitzinger founded the firm and currently serves as president. He owns the firm along with Carl Fuda, vice president; Mark Sailer, chief compliance offer; and Katherine Licau, a research analyst. Kitzinger holds both the CPA and CFA certifications. Sailer and Licau are also CFAs, while Fuda as well as Kitzinger have MBAs.
KLMC offers clients portfolio management, including value equity, fixed income and balanced strategies. The firm also provides financial planning services to clients.
KLCM Advisors Investing Strategy
As noted above, the firm offers three main investing strategies. For its value equity investing, it says it looks for opportunities with "limited risk and substantial upside over a two to three-year time horizon." When reviewing securities for its fixed income investments, the firm looks for issuers with "sound revenue sources, reasonable leverage and a track record of profitability in most years." Analysts also apply traditional credit analysis, taking into consideration the capacity, collateral and quality of each issue.
Generally, the firm uses fundamental analysis when evaluating securities.
Northern Oak Wealth Management, Inc.
Founded in 1976, Northern Oak Wealth Management (NOWM) is the oldest firms on our list of the top financial advisors in Milwaukee. The registered investment advisor is an employee-owned, fee-based firm. With an account minimum of $100,000, the firm's client base is practically split between individuals and high-net-worth individuals. The firm also works with pensions and profit-sharing plans, charitable organizations, corportations adn businesses.
NOWM is considered fee-based because advisors may collect commissions for recommending certain products and services, creating a potential conflict of interest. However, the firm has a fiduciary duty to always act in its clients' best interests.
The NOWM includes on chartered financial analyst (CFA).
Northern Oak Wealth Management Background
NOWM has been providing investment advisory services since its founding in 1976. Today, the firm is a wholly owned subsidiary of Old National Bancorp, Inc., a publicly traded regional bank holding company.
NOWM offers investment management services that include portfolio assessment, asset allocation, financial planning and ongoing review and management of the client’s portfolio. The firm additionally provides services to defined contribution retirement plans and defined benefit plans, as well as private investment consulting.
Northern Oak Wealth Management Investment Strategy
Like other firms, NOWM begins its relationships with clients by determining their risk tolerance and financial goals. The firm's investment strategies are rooted in a broad asset allocation and low total execution costs. With that said, NOWM invests client assets in mutual funds, exchange-traded funds, stocks, bonds, options, and other securities.
Riverwater Partners LLC
Riverwater Partners, a socially responsible investment advisory firm, provides services to individuals, trusts, estates, charitable organizations, corporations and other business entities. With an investment of $1 million, many of its individual clients have a high net worth. The firm may waive the account minimum at its discretion though.
The firm has three chartered financial analysts (CFAs) on staff, as well as two certified financial planners (CFPs). As a fee-only firm, its advisors do no collect sales commissions for recommending financial products or insurance to their clients. Instead, the firm's revenue comes solely from the advisory fees that its clients pay. Those fees are based on a percentage of client's assets under management (AUM).
Riverwater Partners Background
Adam and Laura Peck founded the firm in 2016. Adam Peck had been a partner and portfolio manager at Heartland Advisors while Laura Peck formerly practiced law in Miami. Today, they have majority stake in the firm and serve as chief investment officer and chief compliance officer, respectively.
The services the practice offers are: financial planning, consulting and discretionary investment management services. The firm states that it has a dedication to evironmental, social and governance (ESG), which allows advisors to align each investor's investments with their specific values.
Riverwater Partners Investment Strategy
Riverwater Partners will design and implement a portfolio based on the client's profile and goals. The asset management team actively manages three distinct separate account equity strategies: large-cap, small- to mid-cap and micro-cap. Each strategy typically invests in between 20 and 35 stocks.
When evaluating investments, the firm uses charting, fundamental, technical and cyclical methods of analysis.
Oarsman Capital, Inc
Oarsman Capital is a fee-only firm that mainly caters to individual clients both with and without a high net worth. The firm has an investment minimum of $100,000, and the majority of its clients do not have a high net worth. Oarsman Capital also works with pensions, profit sharing plans and charitable organizations.
The firm's compensation comes solely from the fees that clients pay for advisory services, not third-party commissions. Those fees are charged as a percentage of a client's assets under management.
Oarsman Capital's advisory team features three chartered financial analyst (CFA) and one certified financial planner (CFP).
Oarsman Capital Background
Robert Phelps, Alan Purintun and Gerald Nackers founded Oarsman Capital in 2000. Today, the firm is owned by Phelps, Purintun and Benjamin Kebbekus. In addition to his headquarters in Milwaukee, Oarsman Capital also has offices in Brookfield and Prairie du Sac.
Phelps has worked in financial services since 1986. He has been designated a chartered financial analyst (CFA) since 1997.
Meanwhile, Purintun has managed investment portfolios for high-net-worth individuals since 1994. Purintun was an intelligence officer with the CIA for six years prior to becoming an investment manager. He has an MBA from Dartmouth and an undergraduate degree from Yale. He’s also a chartered financial analyst (CFA).
Nackers has more than 30 years worth of experience as a financial markets professional.
As for services, Oarsman Capital focuses on investment management, mutual fund/exchange-traded fund portfolios and retirement plan advisory services.
Oarsman Capital Investment Strategy
Oarsman Capital builds and manages portfolios for clients that comprise common stocks, debt securities, mutual funds, exchange-traded funds/notes, stock options and cash equivalents. In identifying potentially attractive common stocks to purchase, the firm seeks established companies that possess proprietary products and/or services, track records of consistent earnings growth, financial strength, experienced management, as well as well articulated strategies for future growth. Portfolio turnover is typically low, as advisors look to hold assets for an extended period of time.
The Invictus Collective, LLC
The Invictus Collective is a fee-based firm with a small pool of individual clients, most of whom have a high net worth. The firm also works with corportations and businesses. The Invictus Collective does not require a minimum account size for clients.
As a fee-based firm, certain members of The Invictus Collective team offer securities brokerage services under a separate commission-based arrangement. While these services separate from the advice the firm provides, they create a potential conflict of interest. However, advisors have a fiduciary duty to always act in your best interests.
The Invictus Collective has one certified financial planner (CFP) on staff.
The Invictus Collective Background
Having only been founded in 2021, The Invictus Collective is the youngest financial advisory firm on our list. The firm is currently owned by the brother-sister tandem of Christian Habitz and Sarah Damsgaard, its managing partners and co-founders.
The Invictus Group primarily offers investment management, consulting and financial planning. The latter offering may include any of the following services:
- Business planning
- Cash flow forcasting
- Trust and estate planning
- Financial reporting
- Investment consulting
- Retirement planning
- Risk management
- Charitable giving
- Distribution planning
- Tax planning
- Eduation planning
The Invictus Collective Investment Strategy
Like most financial advisory firms, The Invictus Collective tailors its services to meet the needs of its individual clients. The firm believes that a diverse asset allocation model is the most appropriate approach for investing client assets.
Advisors build client portfolios using stocks, bonds, separately managed accounts, mutual funds, ETFs, private investments, hedge funds, options, alternative investments and structured notes. The Invictus Collective's team has extensive expertise in structured notes, also known as outcome based investing. The firm holds that out-based investing allows clients to take equity-like risk with downside protection.
McCarthy Grittinger Financial Group
McCarthy Grittinger Financial Group, aka MG Financial Group, is a fee-only firm that primarily offers investment management services on a discretionary basis. It includes financial planning at no additional cost. It also offers stand-alone financial planning and may provide guidance on tax, retirement, insurance and estate planning.
Of its clientele, the firm serves individuals, including high-net-worth individuals, as well as corporations.
It does not impose an account balance minimum.
McCarthy Grittinger Financial Group Background
The firm gets its name from its founder, John McCarthy, and from Scott Grittinger, who joined the firm in 2003. McCarthy has since retired, selling his stake to Grittinger, who has majority ownership - and Matthew Miler and Jacqueline Schneider.
The firm's team includes professional designations of certified financial planner (CFP) and certified public accountant (CPA) - and may provide tax prep services for certain clients.
McCarthy Grittinger Financial Group Investing Strategy
The firm will construct well-diversified portfolios mainly using open-end mutual funds, exchange-traded funds (ETFs) and U.S. Treasury debt. Its investment committee monitors and performs due diligence on investment options. Its primary sources of information include, but are not limited to, financial newspapers and magazines, research subscriptions, annual reports, prospectuses, public filings and company press releases and fund company notifications.