Top Financial Advisors in Naperville, IL

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Calamos Wealth Management is a fee-only wealth advisory firm and top-rated practice on our list of firms in Naperville. The majority of its clients are high-net-worth individuals, but the practice also works with non-high-net-worth individuals, pension and profit sharing plans, charitable organizations and businesses. 

The firm’s minimum relationship size is $1 million. However, individual separately managed accounts (SMAs) have an investment minimum of $100,000. Institutional SMAs are accounts have an investment minimum of $5 million.

For investment management services, the firm will typically charge between 1.25% and 0.50% of your managed assets. If you’re participating in the firm's managed mutual fund program, the percentage will vary between 0.20% and 0.50%. Your exact percentage within that range will depend on the market value of your assets. The firm generally doesn’t charge extra fees for financial planning services.

Calamos Wealth Management Background

Calamos Wealth Management was established in 2007 by John Calamos, Sr. It is wholly owned by Calamos Investments, LLC, which itself is owned by Calamos Asset Management, Inc., Calamos Partners, LLC and John Calamos Sr.

The firm is headquartered in Naperville, but you can find secondary offices in New York City and Coral Gables, Florida.

The firm provides investment management services through two separate programs: the Wealth Advisory Program and the Calamos Managed Mutual Fund Program. The former is a standard investment management service, while the latter involves investing your assets in a mix of Calamos open-end mutual funds. The firm also provides limited financial planning and consulting services. From time to time, the firm may assign external managers to supervise portions of clients’ portfolios.

Calamos Wealth Management Investment Strategy

Calamos Wealth Management starts each investment process by sitting down with the client and establishing some key information like current assets, investing goals, tax situation and risk tolerance, among other things. From there, the firm will determine what combination of asset classes would be most appropriate.

The firm constructs client portfolios using individual equities, individual fixed-income securities, Calamos mutual funds, non-Calamos mutual funds, exchange-traded funds (ETFs), limited partnerships, external investment managers and other securities it believes are appropriate.

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Lantz Financial is a fee-based firm whose client base comprises individuals and high-net-worth individuals. The firm doesn’t have an account minimum.

For investment management services, Lantz charges a negotiable percentage of your assets under management (AUM) that won’t exceed 1.25%. Financial planning fees will be charged either as a fixed fee or as an hourly rate. This will also be negotiable and can vary based on the nature and complexity of your financial situation.

As a fee-based advisor, the firm can earn extra compensation from third parties. This is a potential conflict of interest, but the firm and its advisors must act in the best interest of clients. The advisory team at Lantz includes two certified financial planners (CFPs) and one accredited asset management specialist (AAMS).

Lantz Financial Background

Lantz Financial first opened its doors in 2018, making it the youngest practice on our list. The firm is owned by Michael J. Lantz and Daniel B. Rohlfing. Lantz, who founded the business, also serves as its chief compliance officer. 

The firm offers portfolio management, along with limited financial planning and consulting for retirement plans. The financial planning services can cover topics like education funding, retirement planning, estate planning, risk management, employee benefits planning and tax planning.

Lantz Financial Investment Strategy

When analyzing securities, the firm primarily relies on fundamental analysis, the practice of examining overall financial and economic factors alongside a company or fund’s basic information in order to gauge its value. The firm also subscribes to Modern Portfolio Theory, which seeks to maximize return for a given amount of risk. As a result, mutual funds and exchange-traded funds serve as the primary investment vehicles used in the construction of client portfolios.

The firm will recommend both long- and short-term purchase strategies when giving investment advice or building portfolios. This means the firm will hold specific securities within your portfolio for varying lengths of time. 

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DHJJ Financial Advisors is a fee-only firm that primarily works with individuals and high-net-worth individuals. The firm also serves pensions and sharing plans, corporations and businesses. There is no minimum account size. 

For portfolio management services, the firm charges fees that are based on a percentage of your assets, which can range from 0.5% to 1.75%. Financial planning fees are typically charged as an hourly fee between $150 and $400. As a fee-only practice, DHJJ Financial Advisors does not receive commissions or third-party compensation for selling securities or insurance.

The team at DHJJ holds multiple certifications, including five certified public accountants (CPAs) and five certified financial planners (CFPs).

DHJJ Financial Advisors Background

DHJJ Financial Advisors was established in 1988. The firm has no principal shareholders, meaning no one person owns more than 25% of the firm.

The firm provides clients with investment advice, asset management services, financial planning and retirement plan services. Financial planning services may encompass retirement planning, insurance needs, estate planning, tax planning and cash flow, among other topics. The firm does not act as a custodian of any client assets. 

DHJJ Financial Advisors Investment Strategy

DHJJ Financial Advisors uses fundamental analysis and cyclical analysis in order to analyze potential securities. Fundamental analysis involves examining a company or fund’s basic information, as well as the overall economy, to determine a security’s intrinsic value. Cyclical analysis is the study of securities within the context of market and business cycles. 

The firm also prioritizes asset allocation over individual security selection during portfolio construction. To determine the proper asset allocation, advisors will consider the client’s risk tolerance, investment goals, cash flow needs, time horizon and other unique factors.

DHJJ provides investment recommendations on a wide range of securities, including exchange-listed securities, securities traded over-the-counter, foreign issuers, warrants, variable life insurance, mutual fund shares, U.S. government securities, options and futures contracts, among others. 

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Left Brain Wealth Management is a fee-based firm that works mainly with individuals and high-net-worth individuals, as well as pooled investment vehicles.

As a fee-based practice, some of its advisors are representatives of a broker-dealer, and some are licensed to sell insurance products such as life insurance or annuities. This means these advisors could potentially earn sales commissions on top of the advisory fees that clients pay. Despite this potential conflict of interest, the firm is bound by fiduciary duty to always act in the best interest of its clients.

The firm doesn’t have a minimum account size. Financial planning fees at the firm can come in the form of a $600 hourly fee or a fixed, negotiable fee for more complex services. For investment management services, the firm usually charges a percentage of your assets between 1% and 2%.

The team at Left Brain Wealth Management includes two certified financial planners (CFPs) and a chartered financial analyst (CFA).

Left Brain Wealth Management Background

Left Brain Wealth Management formed in Naperville in 2014. Its principal owner is Noland Langford, who also serves as the firm’s president and CEO.

Left Brain provides discretionary asset management services, financial planning services, consulting services for 401(k) plans and private fund management. 

Left Brain Wealth Management Investment Strategy

Left Brain typically invests in a diversified mix of stocks, bonds, exchange-traded funds (ETFs), mutual funds, U.S. government securities, municipal securities and corporate debt obligations. To determine which securities to invest in, the firm relies on quantitative methods to optimize client portfolios, and employs both fundamental and technical methods of analysis. 

Because every client has their own distinct set of needs and goals, the firm will create a separate investment strategy based on each client’s risk tolerance, liquidity requirements and overall time horizon. The firm takes these factors into account and uses them to create an asset allocation and investment strategy that it believes is best equipped to produce success over the long term.

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Fiduciary Financial Partners is a fee-based firm that opened for business in 2011. It currently works with individuals, high-net-worth individuals and pension and profit-sharing plans.

Some of the advisors at Fiduciary Financial Partners are registered representatives of a broker-dealer, and some are licensed to sell insurance products such as life insurance or annuities. This means these advisors could potentially earn commissions on top of the advisory fees you pay. Despite this potential conflict of interest, the firm must always act in the best interest of its clients.

The firm doesn’t have a minimum account size, but it does charge a minimum annual fee of $7,500. Note that this could make the firm’s services cost-prohibitive for some clients.

The firm typically calculates portfolio management fees as a percentage of AUM, with rates ranging from 0.25% to 1%, depending on the value of your assets. Financial planning fees are charged as a negotiable flat fee, and they won’t exceed $1,200 if services can be fully rendered within six months.

The team here includes one chartered retirement plans specialist (CRPS), three certified financial planners (CFP), one chartered financial counselor (ChFC) and one chartered life underwriter (CLU).

Fiduciary Financial Partners Background

Fiduciary Financial Partners was founded in 2011 by Nicholas Economos and John Hillman. Economos principally owns the firm through NE Financial Services, Inc., a holding company.

The firm offers portfolio management services, as well as financial planning and consulting services to its individual clients. Additionally, consulting services are available for qualified retirement plans.

Financial planning services may touch upon retirement planning, estate planning, tax management, investment planning, education funding, business exit strategies and other topics. 

Fiduciary Financial Partners Investment Strategy

Fiduciary Financial Partners uses fundamental analysis and cyclical analysis to analyze potential securities. It typically invests in equity securities, mutual funds, exchange-traded funds, fixed-income securities, corporate debt obligations and variable annuities.

The firm tailors its investment strategy to each client, keeping in mind that investing goals and risk tolerance can vary significantly from client to client. The firm will sit down with each client, often more than once, to establish goals and any other key factors. From there, it will formulate an investment strategy and asset allocation it deems appropriate for that client.

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Meyer Financial Services is a fee-based firm with advisors who can earn commissions on trades or the sale of insurance. This could lead to a conflict of interest, but the firm's fiduciary duty requires it to act in clients' best interests. 

The firm manages assets primarily for individual clients, both above and below the high-net-worth threshold. Institutional clients include pension and profit-sharing plans, as well as charitable organizations.

While there is no minimum account size requirement, Meyer generally charges clients annual management fees that are assessed as a percentage of assets under management, ranging from .1% to 1.65%. The firm’s financial team holds multiple certifications, including a certified financial planner (CFP) and a certification for long-term care (CLTC). 

Meyer Financial Services Background

Meyer was formed as an independent adviser in 1985, making it the oldest firm on this list. President and chief compliance officer Craig Christopher Anderson owns the firm. The practice focuses primarily on asset management, as well as standalone investment consulting and financial planning services. Clients can enlist the firm exclusively for asset management, or pay a higher fee and receive comprehensive wealth management, which combines investment management with financial planning. 

Meyer Financial Services Investment Strategy 

The firm’s investment strategies are based on the client's investment objectives, risk tolerance, time horizons and other factors. Client portfolios are constructed using individual stocks, bonds, exchange-traded funds, options, mutual funds, as well as other public and private securities. 

Meyer relies on modern portfolio theory, an investment strategy that seeks to maximize returns for a given amount of risk, when formulating investment advice. Meanwhile, long-term trading is the primary management strategy the firm uses. 

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Model Wealth is a fee-only firm that works with individuals, high-net-worth individuals, businesses and corporations. The firm charges fees for wealth management based on a percentage of assets under management, and either a flat rate or hourly fees for financial planning. Model Wealth does not impose a minimum account size. 

The team at Model Wealth includes two certified financial planners (CFPs) and one retirement income certified professional (RICP). 

As a fee-only firm, no advisor earns transaction-based commissions from third-party vendors. This means they have fewer conflicts of interest than advisors who do collect sales commissions.

Model Wealth Background

Model Wealth was founded in 2012. It is principally owned by president Randall T. Bruns and chief compliance officer Alex C. Offerman.

Specific services offered at Model Wealth include financial planning, estate planning, education funding, investment management, retirement planning, tax planning and wealth management.

Model Wealth Investment Strategy

The firm believes that outperforming the market with active investing requires more luck than skill. Instead, it follows the efficient market hypothesis, which states that asset allocation drives returns more than security selection. As a result, the firm recommends passive investing strategies.

The following securities are possible investments that Model Wealth may incorporate into a client's portfolio:

• Equities
• Mutual funds
• Exchange-traded funds (ETFs)
• Corporate bonds
• Government bonds
• Closed-end funds

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Stone Island Financial Planning is a fee-only firm that works with individuals, high-net-worth individuals, retirement plans and charitable organizations.

The Stone Island team includes one certified financial planner (CFP) and one certified investment management analyst (CIMA).

The firm charges flat, hourly and asset-based fees. Hourly rates range between $300 and $500, depending on the complexity of the services that are needed.

As a fee-only practice, Stone Island's advisors do not receive commissions or other third-party compensation when recommending insurance or financial products. However, the firm also may charge some clients performance-based fees that can reach up to 30%. Keep in mind that performance-based fees create a conflict of interest because they can incentivize the use of riskier or more speculative investments in an attempt to generate higher profits. 

Stone Island Financial Planning Background

The firm was founded in 2008 as a Delaware limited liability company and is principally owned by Michael McAlister. While the firm conducts business as Stone Island Financial Planning, its legal name is South Georgia Capital, LLC. 

Services include combined investment management and financial planning, as well as ongoing standalone financial planning and project-based financial planning. The firm's work with clients may touch on their net worth, cash flow, retirement planning, investment allocation, security selections, estate planning, insurance benefits, education funding and employee benefits.

Stone Island Financial Planning Investment Strategy

Stone Island conducts cyclical, fundamental and technical analysis, as well as charting, to evaluate and select securities for client portfolios. As for portfolio composition, the firm provides advice to individuals on equity and fixed-income securities, options and futures, exchange-traded funds, mutual funds and pooled investment vehicles.

Investment management is rendered on a discretionary basis, meaning the firm has full control over client accounts and can make transactions without getting prior approval each time. 

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Our list of the top advisory firms in Naperville concludes with Millington Financial Advisors, a fee-based firm that's been in business for over a decade. Despite not having an account minimum, Millington works with slightly more high-net-worth individuals than peopel below the high-net-worth threshold. 

The firm has two certified financial planners (CFPs) on staff. However, keep in mind that Millington advisors earn commissions for the sale of securities or insurance, which is a conflict of interest. While advisors have a financial incentive to recommend certain products and services over others, they're nonetheless required to always act in your best interests. 

Millington Financial Advisors Background 

Millington Financial Advisors was founded in 2010 by the father-son team of Charles G. Millington and Charles F. Millington. Together the two co-owners of the firm have over 60 years of experience working in the financial services industry. 

The firm specializes in investment advisory and financial planning services for individual clients, but may also provide those services to institutional clients like retirement plans, charities and businesses. Specifically, the firm can help in the following areas:

• Tax planning
• Educational planning
• Insurance planning
• Goal setting 
• Retirement planning
• Cash Flow Planning
• Estate planning
• Investment planning
• Debt restructuring

Millington Financial Advisors Investment Strategy

Millington primarily manages client assets on a discretionary basis, investing in a combination of exchange-traded funds (ETFs), individual equity securities and debt instruments. The firm builds customized portfolios aimed at protecting principal so clients can weather market volatility and participate in eventual recoveries. 

On rare occasions, the firm offers clients commission-based products through Millington Investments, Inc., an affiliated broker-dealer. However, the firm notes that such recommendations are made only after the client's goals and financial objectives are fully understood. If your advisor recommends commission-based products, be sure to ask why they're the best option for your situation and/or financial objectives.