Top Financial Advisors in Milwaukee, WI

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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. 

Johnson Wealth is a fee-based firm, and certain advisors may earn commissions from selling insurance products. However, the firm has a fiduciary duty always to act in its client's best interests. 

It provides its services to individuals, 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. Alternatively, 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. 

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Toroso Investments is a fee-only advisory firm that offers discretionary and non-discretionary investment management services to individuals, high-net-worth individuals, family offices, qualified pension plans, Taft-Hartly plans and 401(k) plans. The firm primarily works with investment companies when managing investments but also offers various wealth management and wrap-fee programs. As a fee-only firm, there is no potential conflict of interest in regard to the sale of any securities. 

Toroso Investments Background

The firm was founded in 2012 and is owned by Tidal Financial Group. Guillermo Trias serves as the firm's CEO today, with four total advisors and more than $160 million in assets under management (AUM). 

Toroso Investments Investment Strategy

Toroso advises on a number of mutual funds and exchange-traded funds (ETFs) that it works with its clients on. For individual clients, the firm works with each client to understand their needs and risk profile before making any recommendations. The firm recognizes a few different strategies that are commonly implemented, such as The Global Alpha Strategy which focuses primarily on investing in mutual funds and ETFs. 

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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. 

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1834 Investment Advisors is a fee-based advisory firm that offers investment advisory services to high-net-worth individuals and institutions. Types of clients include individuals, retirement plans and accounts, pension and profit-sharing plans, trusts, estates, charitable organizations, corporations and business entities. There is a minimum account size requirement of $500,000 to work with the firm. The firm can waive the minimum requirement at its discretion. 

1834 Investment Advisors Background

1834 Investment Advisors was founded in 1976 and is the longest-active firm on our list. Today, the firm's eight financial advisors manage more than $1.1 billion in assets under management (AUM) with nearly 500 clients. David Becker (CFA) currently serves as President of the firm and David Bucur is its Chief Compliance Officer.

1834 Investment Advisors Investment Strategy

1834 measures a client’s goals, risk tolerance, and time horizon through an interview process in an effort to determine a plan/portfolio to best fit the client’s profile resulting in the IPS. Investment strategies may be based upon a number of concepts and determined by the type of investor. Investment strategies may include long-term and short-term purchases depending upon the individual needs of the client.

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KLCM Advisors is another fee-only firm that primarily works with individuals and high-net-worth individuals. The firm's pool of clients also includes 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 compensation 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.

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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 a 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 environmental, 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.

Operose Advisors is a Milwaukee-based advisory firm that has a $300,000 minimum account size to open an account. The firm works with family offices, individuals, families, trusts and closely held businesses. As a fee-based firm, there is a potential conflict of interest. The firm's advisors may get paid for the sale of certain securities. However, the firm and its advisors are required to put the client's best interest first. 

Operose Advisors Background

Operose Advisors LLC was founded in 2017 with the sole objective to create a wealth management firm based on institutional principles. Operose was formed in partnership with Marquette Associates, Inc. an independent and institutional consulting firm, to provide small/mid-market clients with access to institutional quality investment consulting and advisory services. Today, Nick Bauer (CFA) serves as the Managing Partner of the firm while Caroline Jankowski is the firm's Chief Compliance Officer. The firm manages more than $800 million in assets under management (AUM)

Operose Advisors Investment Strategy

The firm believes in selecting investments and allocating capital in a patient and differentiated manner as well as in a way that achieves the individual client's goals. This disciplined approach allows Operose to understand each client’s unique investment needs and risk tolerance to construct portfolios that are based on desired outcomes, clear objectives and liquidity requirements.

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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 analysts (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, and 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. 

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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 a certified financial planners (CFP) and certified public accountants (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.  

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Transcend Advisor Group is a fee-only advisory firm that offers financial planning, wealth transfer and tax planning services to individuals, high-net-worth individuals and institutional clients. There is a minimum account size of $80,000 to obtain services but this requirement can be waived at the discretion of the firm. As a fee-only firm, there is no potential conflict of interest with the sale of any securities. 

Transcend Advisor Group Background

Transcend Advisor Group was founded in 2020. Today, the firm's four advisors manage nearly $170 million in assets under management (AUM) and work with more than 600 clients. The firm's advisors have obtained designations such as the certified financial planner (CFP). 

Transcend Advisor Group Investment Strategy

Transcend Advisor Group may use short-term trading, short sales for hedging purposes, margin transactions, and options writing (limited to covered options, or spreading strategies). The firm may employ a breadth of strategies from longer-term/strategic approaches, to more short- to intermediate-term/tactical approaches, as matched to client goals and objectives.