Top Financial Advisors in Springfield, IL

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Sikich Financial is the No. 1 firm on our list of the top financial advisors in Springfield. Founded in 2007 and registered with the SEC since 2017, Sikich Finanial provides a range of advisory services tailored to individuals, high-net-worth individuals retirement plans, charitable organizations and business entities. 

Its offerings include investment management, financial planning and retirement plan consulting, with areas such as risk management, asset allocation, retirement planning, succession planning and ongoing plan monitoring. The firm generally suggests a $250,000 portfolio minimum but retains the discretion to waive it; for retirement plan consulting, a minimum annual fee of $1,500 applies.

The team at Sikich Financial holds a range and depth of financial certifications, including the certificed public accountant (CPA), Certified Financial Planner™ (CFP®), accredited investment fiduciary (AIF), Chartered Financial Analyst (CFA) designations, among others.

However, as a fee-based practice, its representatives can also earn commissions when acting in separate roles as broker-dealer representatives or insurance agents. This structure creates potential conflicts of interest, though clients are not obligated to purchase products through these channels. The firm also has a fiduciary duty to disclose conflicts of interest and act in your interests. 

Sikich Financial has an investment philosophy based in modern portfolio theory, emphasizing diversification across asset classes to balance risk and return. Portfolios are typically constructed using mutual funds, equities and third-party managers, with allocations tailored to each client’s goals, risk tolerance and time horizon. The firm’s approach is long-term oriented, though it may adjust holdings based on market conditions or specific client needs, such as concentrated stock positions or unique tax considerations.

Portfolios can include stocks, bonds, mutual funds, exchange-traded funds (ETFs), real estate investment trusts (REITs), options strategies, and certain insurance-based products.

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KEB Wealth Advisors is a fee-only practice that works with individuals above and below the high-net-worth mark, as well as pensions and profit-sharing plans, charities and businesses. There is no set account minimum here, but there is a minimum annual fee of $3,000.

As a fee-only firm, its compensation only comes from clients. This is in contrast to fee-based firms, which also feature a commission-based arrangement in addition to client fees. 

Originally, Kerber, Eck and Braekel CPAs and Management Consultants was an accounting firm. In 1999, J. Marc Carter and other partners reorganized the firm, shortening its name to KEB Wealth Advisors. Today, it provides investment management services mostly on a discretionary basis. In addition, the firm offers financial planning services addressing such areas as: 

• Personal budgeting and savings
• Tax planning
• Death and disability analysis 
• Retirement planning 

The team at KEB Wealth Advisors includes Certified Financial Planners™ (CFP®) and certified public accountants (CPA).

KEB Wealth Advisors utilizes portfolio asset allocation software to design and construct a portfolio that adheres to a client’s specific risk tolerance and investment goals. The firm’s advisors generally build these portfolios with passively managed index mutual funds from Dimensional Fund Advisors (DFA). More broadly, the firm generally takes a long-term approach to investing, incorporating the tenets of modern portfolio theory into its strategy.

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Troxell Financial, established in 2011, provides portfolio management, retirement plan services and financial planning. The firm works with individuals, high-net-worth individuals, pension and profit-sharing plans, charitable organizations and business entities.

Its financial planning can be broad or focused on specific needs, including retirement readiness, education funding, major purchase planning, life insurance, disability income, long-term care and estate considerations. Clients may engage the firm for one-time planning or ongoing support.

Collectively, the firm's financial advisors hold several professional certifications, including the Certified Financial Planner™ (CFP®), certified public accountant (CPA), accredited investment fiduciary (AIF), chartered alternative investment analyst (CAIA) and professional plan consultant (PPC) designations.

To establish an investment advisory relationship with the firm, you typically need a minimum investment of $100,000. However, the firm may waive this requirement at its discretion. Troxell is a fee-based firm, because its advisors earn compensation from insurance product sales, in addition to advisory fees collected from its clients. That said, Troxell has a fiduciary duty to provide advice solely in the best interests of its clients.

Troxell Financial’s advisors build investment portfolios tailored to the specific needs and risk appetite of the client. It aims for diversification by investing across various asset classes. When evaluating investments, the firm generally relies on fundamental analysis. This method explores factors such as the financial health of a company, industry conditions and the state of the overall economy to measure the intrinsic value of a stock or other similar investment.

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BOS Asset Management's client base consists mostly of non-high-net-worth and high-net-worth individuals, as well as charitable organizations, government entities, insurance companies and businesses. The fee-based firm does not have a specific minimum investment requirement.

Certain on-staff advisors at BOS can sell insurance products and securities on a commission basis. Although this is a potential conflict of interest, the firm's fiduciary duty requires it to act in clients' best interests at all times.

BOS Asset Management is the youngest firm on our list, as it was founded in just 2020. As you can infer from its name, the firm is owned by the Bank of Springfield. Like some of the other firms on this list, BOS offers asset management through a wrap fee program, as well as a non-wrap fee option. Its advisory offerings also include retirement, tax, estate, education, business and insurance planning. 

The firm describes its investment philosophy as disciplined, research-driven and focused on diversification, risk alignment and transparency. It uses a structured process beginning with client goals and investment policy development, followed by portfolio construction and ongoing monitoring. Portfolios are built using individual equities, fixed income securities, mutual funds and ETFs.

The firm also emphasizes individual stock selection for flexibility and cost efficiency, while its fixed income strategy prioritizes yield and cash flow over total return. BOS also incorporates third-party managers and research providers, such as Argus Research and Alliance Bernstein, in certain strategies

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Skinner, Copper & Ehmen Wealth Management, the final firm on our list, offers portfolio management services through wrap fee accounts only. This means that all charges are combined into a single rate, as opposed to advisory, transactional and custodial fees all being separate.

The team of advisors holds multiple certifications, including Certified Financial Planner™ (CFP®), chartered life underwriter (CLU), personal financial specialist (PFS) and certified public accountant (CPA) designations. 

The firm does not require a minimum account balance for any of its services. It also operates as a fee-based advisor. In turn, some advisors can sell insurance products and securities on a commission basis, which potentially poses a conflict of interest. However, the firm and its advisors must uphold their legal fiduciary duty to work in the best interests of clients. 

The original partnership between Ryan Ehmen and James Copper began in 2000, making it the second-oldest firm on this list. Douglas Skinner then joined the firm in 2007. The firm registered as an investment adviser in 2012. Today, Skinner, Copper & Ehmen Wealth Management offers the following services to its clients: 

• Wrap comprehensive portfolio management
• Wrap & non-wrap asset management
• Financial planning & consulting
• Pension consulting
• Referrals to third-party money managers 

The firm's' investment philosophy emphasizes building diversified, asset-allocated portfolios tailored to each client’s goals, financial situation and risk tolerance. Portfolios typically include mutual funds, ETFs, separately managed accounts, REITs, and occasionally individual stocks and bonds. The firm follows modern portfolio theory and does not attempt to time the market. Portfolios are globally diversified, regularly monitored and rebalanced as needed. For eligible clients, the firm may also recommend private placements or variable annuities when appropriate.