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Top Financial Advisors in Waukesha, WI

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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.

Finding a Top Financial Advisor Firm in Waukesha, WI

To help you find the most suitable financial advisor in Waukesha, we’ve created a list of the top advisory firms, based on each firm’s assets under management (AUM), investment strategies, fee structure and advisory services. If you’d prefer a different option, you can also use SmartAsset’s free financial advisor matching service to connect with up to three local advisors. You’ll simply need to complete a short questionnaire about your financial situation, and you’ll find matches within minutes.

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Rank Financial Advisor Assets Managed Minimum Assets Financial Services More Information
1 IAG Wealth Partners, LLC IAG Wealth Partners, LLC logo Find an Advisor

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$937,074,397 Varies based on account type
  • Portfolio management
  • Financial planning
  • Selection of other advisors
  • Educational seminars

Minimum Assets

Varies based on account type

Financial Services

  • Portfolio management
  • Financial planning
  • Selection of other advisors
  • Educational seminars
2 Kowal Investment Group, LLC Find an Advisor

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$929,397,759 $750,000
  • Financial planning
  • Portfolio management
  • Pension consulting

Minimum Assets

$750,000

Financial Services

  • Financial planning
  • Portfolio management
  • Pension consulting
3 Financial Solutions, LLC Financial Solutions, LLC logo Find an Advisor

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$795,981,270 $100,000
  • Portfolio management
  • Financial planning
  • Pension consulting
  • Selection of other advisors

Minimum Assets

$100,000

Financial Services

  • Portfolio management
  • Financial planning
  • Pension consulting
  • Selection of other advisors
4 Drake & Associates, LLC Find an Advisor

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$163,362,802 $50,000
  • Financial planning
  • Portfolio management
  • Selection of other advisors (including private fund managers)
  • Educational seminars/workshops

Minimum Assets

$50,000

Financial Services

  • Financial planning
  • Portfolio management
  • Selection of other advisors (including private fund managers)
  • Educational seminars/workshops
5 Sterling Capital Management Inc Sterling Capital Management Inc logo Find an Advisor

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$ 260,991,548 $100,000
  • Portfolio management
  • Financial planning
  • Pension consulting
  • Selection of other advisors

Minimum Assets

$100,000

Financial Services

  • Portfolio management
  • Financial planning
  • Pension consulting
  • Selection of other advisors

What We Use in Our Methodology

To find the top financial advisors in Waukesha, 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:

  • AUM
    Firms with more total assets under management are ranked higher.
  • Individual Client Count
    Firms who serve more individual clients (as opposed to institutional clients) are ranked higher.
  • Clients Per Advisor
    Firms with a lower ratio of clients per financial advisor are ranked higher.
  • Age of Firm
    Firms that have been in business longer are ranked higher.
  • Fee Structure
    Firms with a fee-only (as opposed to fee-based) compensation structure 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.

IAG Wealth Partners, LLC

IAG Wealth Partners tops our list. The firm’s 13 advisors serve more than 1,600 clients, who include non-high-net-worth and high-net-worth individuals, corporations and other business entities. IAG Wealth’s advisors offer a range of specialties, including the certified financial planner (CFP), certified retirement planning counselor (CRPC), certified divorce financial analyst (CDFA), certified exit planning counselor (CEPA), chartered life underwriter (CLU), chartered financial consultant (ChFC) and certified kingdom advisor (CKA) designations. 

IAG Wealth is a fee-based firm, so advisors can earn commission-based compensation from selling insurance or investment products. While this could present an opportunity for certain advisors to favor commission-based products, the firm must honor its fiduciary duty to work in its clients’ best interests. 

The firm’s account minimum requirements vary based on account type, ranging from $5,000 to $250,000. Advisors are compensated through asset-based fees, hourly fees or fixed fees.

IAG Wealth Partners Background

IAG Wealth was established in 1985 by founder and firm president Lori A. Watt. The firm functions as an independent, financial investment group offering portfolio management, financial planning and consulting and advisor referral services. 

The firm’s financial planning services are separated into two categories: initial financial planning and follow-up financial planning. Clients receive guidance for up to six months through IAG Wealth’s initial financial planning services. The firm’s follow-up services may last for as long as the client and firm agree. IAG Wealth also gives clients access to educational seminars and events. 

IAG Wealth Partners Investment Strategy

IAG Wealth says on its website that it strives to guide its clients in making good wealth management decisions throughout the stages of their lives. It generally believes in a long-term, buy-and-hold strategy. Its services include helping you choose a third-party managed program sponsored by LPL Financial

When evaluating securities, the firm uses fundamental analysis and cyclical analysis. IAG Wealth also utilizes various sources of information in its investment process. This includes company filings and public press releases, corporate rating services, annual reports and financial newspapers.

Kowal Investment Group is a fee-based firm, so advisors can earn commission-based compensation from selling insurance or investment products. While this could present an opportunity for certain advisors to favor commission-based products, the firm must honor its fiduciary duty to work in its clients’ best interests. 

The serves various clients, including individuals, high-net-worth individuals, trusts, estates, charitable organizations, businesses and retirement plans. Generally, the minimum account size is $750,000, but the firm may reduce this minimum for a client at its sole discretion.

Kowal Investment Group Background

Kowal Investment Group was founded in May 2010. The firm is owned and operated by Jeffrey D. Kowal (who serves as president) and Aaron T. Kowal (who services as managing director, senior financial advisor and chief compliance officer (CCO). 

The firm offers wealth management services, use of independent managers, financial planning services, retirement plan advisory services and wrap fee programs. Account management can involve establishing an investment strategy, asset allocation, portfolio construction and/or investment management and supervision.

Kowal Investment Group Strategy

The firm mainly uses fundamental analysis when developing investment strategies for its Clients. It derives research from various sources, including but not limited to financial media companies, third-party research materials and review of company activities (including annual reports and press releases).

Investment portfolios are constructed using investment portfolio primarily utilizing ETFs, diversified mutual funds, equities and bonds. Advisors may also use unit investment trusts (UITs), alternative investments, structured products and other types of investments.

Financial Solutions, LLC

Fee-based firm Financial Solutions, LLC serves individuals (including non-high-net-worth and high-net-worth individuals), retirement plans, trusts, pension and profit-sharing plans, corporations, charitable organizations, as well as partnerships and other legal entities. 

Financial Solutions’ advisors offer advisory services through asset-based, fixed fee and hourly-fee compensation arrangements. The firm’s fee-based fee structure also allows advisors to earn money from commissions. Though this may create a conflict of interest, clients are protected by the firm’s fiduciary duty. 

Financial Solutions requires clients to have a minimum of $100,000 before opening an account. The firm requires a minimum account fee of $1,000 for accounts it manages on a discretionary basis. For retirement plans, Financial Solutions requires $5,000. 

Financial Solutions, LLC Background

Financial Solutions was founded in 1993 as an independent investment advisory and financial planning firm. The firm’s owners are Timothy McGrath, Horace Seely-Brown, Kenneth Stuckert and William Kenton. 

Financial Solutions’ services include portfolio management, financial planning and investment advisor referrals. Clients also have access to other areas of financial planning, including:

  • Estate planning
  • Tax planning
  • Retirement cash flow planning
  • Education planning
  • Risk management 

Financial Solutions, LLC Investment Strategy

Financial Solutions considers a number of factors before making investment decisions on behalf of its clients. It analyzes a client’s risk tolerance, time horizon, tax status. The firm may invest in a variety of securities, including stocks, bonds, mutual funds, exchange-traded funds (ETFs), separate money management accounts and alternative investments. 

The firm’s advisors also implement technical trading models, option strategies and short-term trading in its investment process. Financial Solutions’ investment strategies also utilize technical analysis, quantitative methods, optimization and computer models.

Drake & Associates, LLC

Registering with the SEC for the first time in 2019, Drake & Associates has a relatively small team but one that boasts important professional financial certifications, including certified financial planner (CFPs) and financial paraplanner qualified professional (FPQP). Many are also insurance agents who earn sales commissions from third parties. This arrangement has the potential of posing a conflict of interest, but as an SEC-registered firm, Drake & Associates are legally required to put their clients' interests first.

The vast majority of individual clients that the firm serves do not have high net worths. This is not surprising, since the practice requires a relatively low minimum investment of $50,000, which it may waive at its discretion.

Drake & Associates Background

If you've heard of Drake & Associates, it's likely from seeing founder Tony Drake quoted in business periodicals or on local news shows. Or maybe you heard him on his radio show "Retirement Ready."

The firm offers investment advisory services, financial planning and retirement plan account monitoring. Its investment management services may be on a discretionary or non-discretionary basis.

Drake & Associates Investing Strategy

Based on the client's profile and goals, Drake & Associates will recommend an appropriate model portfolio designed by LSA Portfolio Analytics. When implementing asset allocations, advisors generally use mutual funds, equities, bonds, fixed income, debt securities and exchange-traded (ETFs). It may also use real estate, hedge funds, REITs, insurance products such as annuities, private placements, government securities and other securities to help diversify a portfolio when applicable. Methods of analysis the firm may use include charting analysis, fundamental analysis, technical analysis and cyclical analysis.

Sterling Capital Management Inc

Fee-based financial advisor firm Sterling Capital Management serves various clients, including non-high-net-worth and high-net-worth individuals, pension and profit-sharing plans, trust accounts, corporations and pooled investment vehicles, charities and non-profit organizations. 

The firm has two advisors, one of whom is a certified financial planner (CFP). Both are also brokers and insurance agents who are paid on a transaction basis. This poses a potential conflict of interest, but Sterling Capital is an SEC-registered advisor which must put client interests before its own. The firm imposes an account minimum of $100,000, though it may waive it at its discretion. It charges asset-based, performance-based, hourly or fixed fees for its advisory services.

Sterling Capital Management Background

Tom Portz founded Sterling Capital in 1997. Portz and his son, also named Tom Portz, serve as the firm’s two advisors. Sterling Capital primarily provides investment advisory, financial planning, advisor referral and pension consulting services. The firm also acts as the general partner and investment advisor to Sterlingworth Capital Partners, LP, a hedge fund. 

Sterling Capital Management Investing Strategy

Sterling Capital mainly invests client assets in stocks, bonds and mutual funds. The firm largely focuses on changing factors in the global economy that influence market prices. Sterling Capital also says it utilizes various data sources, including commercially available software, rating services, general market/financial information or due diligence reviews - and it is of course relying on the accuracy and validity of the information provided by selected vendors, rating services, market data and the primary issuers of said data.

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.

Least
Most
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