Top Financial Advisors in Chicago, IL

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Fiducient Advisors, which was formerly known as DiMeo Schneider & Associates, L.L.C., serves both non-high-net-worth and high-net-worth individuals, as well as banking or thrift institutions, pension and profit-sharing plans, charitable organizations and corporations.

The minimum initial investment depends on the type of client and the scope of services rendered. Some investment programs require a minimum of $50,000 and $500,000. Annual asset-based fees for investment advisory services range from 0% to 1%.

Fiducient Advisors Background 

Fiducient opened its doors in 1995 as a limited liability company. It is currently owned by Fiducient Holdings, LLC, which is a limited liability company that was formed in Delaware. 

The firm has expanded its financial planning services to offer guidance on family legacy planning, tax efficiency, and estate planning. 

Fiducient Advisors Investment Strategy

Fiducient takes an in-depth dive into each client’s financial background to come up with an investment approach it deems appropriate for its clients. From there, it seeks the right independent investment managers by using its own database. 

Based on your needs, it can recommend the following: 

• Mutual funds
• Venture capital funds
• Exchange-traded funds (ETFs)

In addition, the firm periodically evaluates portfolio and investment manager performance.

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Headquartered in Chicago, Cresset Asset Management is a fee-only firm. This means that it does not collect commissions on trades or the sale of certain products.

The advisor team holds multiple certifications, including designations as a chartered financial analyst (CFA), certified financial planner (CFP) and certified public accountant (CPA), among others.

The firm manages assets for both non-high-net-worth and high-net-worth individuals. Institutional clients also include pooled investment vehicles, charitable organizations and corporations. 

While Cresset generally does not impose a required minimum to open an account, the firm charges a minimum annual fee of $20,000 for investment advisory services, with a maximum of 2% of assets under management. 

Cresset Asset Management Background

The firm was founded in 2017, and is a majority-owned subsidiary of Cresset Intermediate Holdco, LLC, which itself is a majority-owned subsidiary of Cresset Capital Management, LLC and was founded by Avy Stein and Eric Becker.

Cresset provides comprehensive services, including financial planning, investment planning, income tax planning, retirement planning, estate planning, education planning and insurance planning and risk management.  

Cresset Asset Management Investment Strategy

Client portfolio strategies typically include investment in money market funds, mutual fund shares, corporate debt securities, hedge funds and private equity shares, municipal securities, real estate investment trust shares, options and other securities. 

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IHT Wealth Management, LLC is a fee-based firm headquartered in Chicago that serves both non-high-net-worth and high-net-worth individuals. 

The firm also serves pension and profit-sharing plans, charitable organizations and corporations, as well as 401(k)s and trusts. 

As a fee-based firm, some advisory professionals may get compensation based on commissions from the sale of securities, insurance and other investment products. However, IHT has a fiduciary duty that obligates all of its professionals to put the interests of their clients first. 

For clients who seek to engage in management services, IHT imposes a minimum account requirement of $5,000. The firm may charge a percentage of assets under management for investment management services, which is a maximum of 2%. 

IHT Wealth Management, LLC Background 

IHT was formed in 2014 as a limited liability company. It is headquartered in Chicago and is principally owned by Steven J. Dudash. 

The firm offers a variety of advisory services, including discretionary asset management, guided wealth portfolios and ERISA plan consulting, as well as financial planning services. 

IHT Wealth Management, LLC Investment Strategy 

IHT says in its brochure that it offers a variety of portfolio strategies designed for specific investors with conservative and aggressive tolerances for risk. 

Its small account managed model portfolio, which is typically made up of stocks, ETFs and mutual funds, is “designed for low turnover to provide adequate equity exposure for smaller accounts.” This model portfolio is typically used for accounts smaller than $100,000 in assets. 

By comparison, IHT’s traditional managed model portfolio focuses on stable long-term growth. While the firm’s taxable managed model portfolio aims to take advantage of long-term taxable gain treatment. 

IHT also offers another model portfolio for stable growth that is U.S.-focused.

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Great Lakes Advisors, LLC (GLA) is a fee-only firm that manages assets primarily for non-high-net-worth individuals. 

The firm also works with banks or thrift institutions, investment companies, pooled investment vehicles, pension and profit-sharing plans, charitable organizations, state or municipal governments, insurance companies, other investment advisors, and corporations. 

As a fee-only firm, GLA professionals do not earn commissions on trades and the selling of insurance and other investment products. 

GLA may charge a percentage of assets under management for investment management services, which is a maximum of 2% for accounts under $5 million. 

The firm also imposes minimum account requirements depending on the investment strategy, ranging from $1 million to $2 million. 

Great Lakes Advisors, LLC Background  

GLA is a registered investment advisor with the Securities and Exchange Commission (SEC). It was founded in 1981, and is headquartered just northwest of Chicago, near O’Hare Airport. 

The firm is completely owned by Wintrust financial Corp.

Great Lakes Advisors, LLC Investment Strategy  

GLA says that it creates long-term solutions for clients through the "implementation of conservative investment approaches that seek to deliver competitive performance over market cycles." 

Investment approaches include: 

• Disciplined equity, which aims to deliver "more consistent excess returns 
• Fundamental equity, which engages risk-focused investing in value-oriented companies 
• Fixed income, which focuses on an experienced, conservative approach 
• Multi-asset strategy, which tailors portfolios to client goals 
• Smart Beta, which focuses on risk-based investment solutions 
• Private wealth, which take a goals-based approach

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The Mather Group is a fee-only firm requiring a minimum portfolio size of $1 million to open an account. The firm works with both non-high-net-worth and high-net-worth individuals, as well as pension and profit-sharing plans and charitable organizations.

Fees for asset management are based on a percentage of assets under management, generally ranging between 0.25% to 2%. Financial planning and family office fees are generally charged a predetermined fixed fee.

Advisors at the firm have earned a variety of financial advisor certifications, including certified financial planner (CFP), chartered financial analyst (CFA) and certified public accountant (CPA), among others.

The Mather Group Background

The Mather Group is a limited liability company that was founded in 2011 and is owned by Mather Holdings, LLC. 

Services offered at the firm include portfolio management, financial planning, family office services, tax planning/preparation, estate planning and executive services.

The Mather Group Investment Strategy

Nearly three-quarters of the money managed by The Mather Group is invested in individual stocks. Bonds are also used, and money is invested in mutual funds, held as cash and used to purchase annuities.

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Gresham Partners manages assets primarily for high-net-worth individuals and institutional clients, including pooled investment vehicles and charitable organizations. 

As a fee-based firm, Gresham financial professionals could earn commissions on trades and the selling of insurance and other investment products. Nevertheless, the firm has a fiduciary duty that requires its team to act in the best interests of their clients.

Individual clients generally have a $180,000 minimum annual fee, but the firm could waive or negotiate it. This asset-based fee is calculated as: 0.75% of the first $25 million, 0.50% for the next $25 million and 0.30% for assets over $50 million.

Gresham Partners Background 

Gresham Partners opened in 1997, and is owned by 12 partners today. It is named after Sir Thomas Gresham, an advisor to three British monarchs (including Elizabeth I) and founder of the Royal Exchange. The firm says it channels his 16th century entrepreneurial spirit to identify and maximize opportunities for clients.   

Gresham Partners Investment Strategy 

Gresham Partners conducts multiple meetings with clients to develop the right asset allocations. It considers risk appetite, net worth, philanthropic goals, liquidity requirements and more. 

It then searches for and evaluates investment managers that may be appropriate for the client. According to documents that Gresham filed with the SEC, “The Company tends to select experienced managers with broad mandates who can take relatively concentrated positions based on careful fundamental analysis and tend to have a limit on the amount of capital they will accept, but other types of managers may be selected.”

The firm monitors these managers on an ongoing basis.

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Zacks Investment Management is a Chicago-based firm that works with both non-high-net-worth and high-net-worth individuals, as well as investment companies, pooled investment vehicles, pension and profit-sharing plans, state or municipal governments, other investment advisors and wrap programs.

Zacks Investment Management generally requires a minimum of $500,000 for its investment advisory services. This minimum applies to both its wealth management program accounts and its individual fixed-income securities accounts. However, the firm may waive this requirement based on its discretion. 

Zacks Investment Management Background 

Zacks Investment Management was formally established in 1992, and is a wholly owned subsidiary of Zacks Investment Research, which provides data and analysis to investment professionals. 

Zacks Investment Management Investment Strategy

Zacks offers a number of different investing strategies, and will determine which strategies are appropriate for client portfolios based on a number of factors, including goals, risk tolerance and time horizon.

Because all research and strategies are done in-house, the firm claims that there is greater transparency and lower fees. 

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Kovitz Investment Group Partners is a fee-based firm where some advisors earn a commission for selling insurance products. While this is a conflict of interest, when acting as advisors all employees must act in the best interest of the client.

The minimum account size at Kovitz is generally $1 million, though it is lowered to $500,000 in some satellite offices. Fees are based on a percentage of assets under management.

The firm's team holds multiple certifications, including designations as certified public accountant (CPA), certified financial planner (CFP), chartered retirement planning counselor (CRPC), chartered alternative investment analyst (CAIA) and chartered financial analyst (CFA).

Kovitz Investment Group Partners Background

The firm was founded in 2003 and is a wholly-owned subsidiary of Focus Operating, LLC. That firm is in turn controlled by Focus Financial Partners, which is a public company traded on the NASDAQ.

Services include investment management and financial planning.

Kovitz Investment Group Partners Investment Strategy

The majority of the money held at Kovitz is invested in individual stocks. Bonds, mutual funds, cash holdings and mortgage-backed securities are also used.

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Retirement Plan Advisors (RPA) is a fee-based firm in Chicago that works with both non-high-net-worth and high-net-worth individuals, as well as state or municipal governments.  

Minimum requirements vary from $0 for retirement accounts to $5,000 for certain non-retirement managed accounts, and other minimums based on the account strategy.  

As a fee-based firm, some in-house advisors at RPA may receive commissions from the sale of certain securities or insurance products. That's different from a fee-only firm, which avoids conflicts of interest by restricting its compensation to client-paid advisory fees. 

Retirement Plan Advisors Background 

RPA has been in business since 2000. According to its brochure, the firm is owned by its employees, financial advisors, and Cambridge Investment Group. RPA is led by Joshua Schwartz, the firm’s president and principal owner.

The advisory team provides a spectrum of services, ranging from investment management and financial planning to more specific managed account programs and other advisory services. 

Staff members hold multiple certifications, including designations as a certified financial planner (CFP), chartered financial analyst (CFA) and certified public accountant (CPA), among others. 

Retirement Plan Advisors Investment Strategy 

RPA tailors investment strategies for the financial needs and objectives of each client. Advisors work to develop an initial asset allocation model that's built specifically for them. As with other firms, it uses information about the client's risk tolerance, time horizon and investment goals to inform it. 

The firm says that its advisors continuously monitor portfolios to ensure that goals are being properly pursued. And clients are encouraged to update RPA with changes to their financial situation or goals. 

Advisors tend to flesh out client portfolios using mutual funds and exchange-traded funds (ETFs). And they inform their investment decisions using a variety of techniques, including charting, fundamental analysis and technical analysis.

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RMB Capital Management is a fee-only firm that manages assets for both non-high-net-worth and high-net-worth individuals, as well as investment companies, pooled investment vehicles, pension and profit sharing plans, charitable organizations, other investment advisors, insurance companies and corporations.

Several of the firm's advisors are accredited experts, holding mutiple certifications as certified financial planners (CFPs), chartered financial analysts (CFAs), certified investment management analysts (CIMAs) and certified public accountants (CPAs).

Individuals generally need a minimum investment of $1 million to open an investment account with RMB. However, the firm typically lowers that minimum to $250,000 if you invest in an internally managed private fund. 

RMB Capital Management was ranked among Barron’s top 30 independent advisory firms and among the Financial Times Top 300 Registered Investment Advisors (RIAs). Financial Advisor named it #21 out of the top 50 fastest-growing firms.

RMB Capital Management Background

RMB Capital Management was founded in Chicago in 2005. The independent firm works through two business units to service its clients: The Wealth Management Unit is focused on finding solutions to clients’ financial needs, while the Asset Management Unit is centered on investment strategies. 

RMB Capital Management’s investment strategy is centered around “taking a long-term view, conducting fundamental analysis, being opportunistic yet disciplined and avoiding unnecessary risk,” its website explains. All of that comes into play in RMB Capital Management’s “open architecture” model, which lets clients have assets that are managed both internally and externally. 

RMB Capital Management Investment Strategy

RMB Capital Management characterizes its investment philosophy as taking a long-term approach, conducting fundamental analysis, being opportunistic, yet disciplined and avoiding unnecessary risk, according to its firm brochure. The firm also says it creates asset allocations based on each client's goals. 

RMB Capital Management's primary methods of analysis are fundamental analysis and active management strategies, but the firm also employs quantitative analysis, technical analysis and passive or index strategies. The firm also uses the following investment strategies: equity strategies, fixed-income strategies, core investment-grade fixed-income strategies, tax-advantaged fixed-income strategies, treasury inflation-protected "real return" strategies, liability-driven investment strategies and private fund strategies.