On the outer edges of the Chicago area and the county seat of Will County, Joliet has about 150,000 thousand residents, and while things have been slow in the past the city is now attracting new development and is an excellent place to build a business or base yourself after you’ve already found success. Yet no matter your past, if you have wealth, you should look into working with a financial or investment advisor in order to get a second opinion as to what to do next. Finding the best ones can be tough, so in this regard, we’ve stepped in to help.
As there weren’t too many firms in Joliet that met our tough standards, so we included firms from all over the Chicago area. Here are our top five choices for financial advisory firms for Joliet, Illinois:
1) HighTower Advisors, LLC
Our top choice for other cities in the area as well, HighTower Advisors, LLC has a staggering $48 billion in assets under management, and the firm has been in operation since 2008. With hundreds of advisors under their employ spread across the country, they’ll be able to help you with whatever financial services or advice you need.
Their general investment strategy might vary a bit from advisor to advisor, but you can expect a research-heavy approach that utilizes prediction models and technology to their fullest potential.
HighTower Advisors, LLC is a fee-based firm that doesn’t have a strict asset requirement or account minimum, but we do suggest double-checking to see if their fees would be reasonable for your financial situation.
You can expect the following working with HighTower Advisors, LLC:
- No matter which advisor you work with, you can expect clear communication and transparent services.
- An inexpensive fee structure so you can maintain more of your wealth for yourself.
- A large network of advisors and resources to work with.
2) Mesirow Financial Investment Management, Inc.
Mesirow Financial Investment Management, Inc. is our second choice for Joliet, and it is a fantastic Chicago firm that has $24 billion in assets under management. Formed in 1986 with a deeper history that dates back to 1937, they have a larger team (nearing 100) of advisors able to keep up with all of their clients, with quite a few of them being CFPs.
Their focus primarily on their risk management, advisory, and investment services, and will use a wide variety of strategies, asset types, and potential avenues to help clients meet their goals.
Mesirow Financial Investment Management, Inc. is a fee-based firm that requires that you have $250,000 in investible assets, but we only recommend them for people with more than $400,000 to invest due to their $4,000 minimum annual fee.
You can expect the following working with Mesirow Financial Investment Management, Inc.:
- They are primarily employee-owned, ensuring independence and that you will be receiving advice that is 100 percent in your interests.
- Reports and publications available that will tell you more about their strategies and findings.
- A very large number of services offered, far more than what we could list here.
3) RMB Capital Management
Another firm that’s based in Chicago, RMB Capital Management has $9 billion in assets under management and a huge team of over 80 advisors spread out over 10 offices throughout the country. If you’re worried that they might be spread a little thin, there’s no need for concern, and they have all the resources needed to capably provide you with solid management and advisory services. We find them to generally be best for high net worth individuals, but others may still find the firm a good fit.
As for their investment strategy, they take a long term approach for their clients and focus on wealth preservation as much as they might on growth.
RMB Capital Management is a fee-based firm that usually requires $1 million in investable assets to work with them, but may allow other clients in some circumstances.
You can expect the following working with RMB Capital Management:
- Well-staffed offices throughout the country.
- Dedicated teams for wealth management, asset management, and retirement planning.
- A holistic approach to providing financial services, and you can trust they will listen to everything you tell them.
4) Gofen and Glossberg, LLC
A very old and experienced firm, having been found in 1932, Gofen and Glossberg, LLC is a Chicago firm that has $4.37 billion in assets under their management, and their team-based approach to many services makes them stand out, especially when you consider the experience of their staff.
They are a firm that is focused on long-term results instead of short-term gains, and prospective clients should note this. They will build your portfolio carefully based on your preferences and make adjustments as the market and your goals demand.
Gofen and Glossberg, LLC is a fee-only firm that requires that you have $1 million in investable assets.
You can expect the following working with Gofen and Glossberg, LLC:
- A deep knowledge of economic cycles and how to make the most of them in regards to the value of your portfolio.
- They are a highly independent team that will not let outside influences affect them. You will only receive objective advice and recommendations.
- Experience working with families and organizations as well as individuals.
5) Calamos Wealth Management, LLC
Our top choice for Naperville and an excellent choice for Joliet residents, Calamos Wealth Management, LLC was founded in 2007 and has $1.47 billion in assets under management, the most in Naperville. We consider them a firm that’s best for professional athletes and high-net-worth individuals. They offer a wide range of services and can help you plan for success and setbacks simultaneously.
They consider asset allocation to be paramount to your financial strategy, and as such will take great care to get to know you and determine just what asset types (and in what quantities) should be utilized. Additionally, they’ll hope to reduce risk and adjust your portfolio as necessary according to changes in the market.
Calamos Wealth Management is a fee-only firm that requires that you have a $1 million account minimum with them to work with them for normal investment management services.
You can expect the following working with Calamos Wealth Management:
- Two other offices in Florida and New York City.
- Resources dedicated towards client education.
- Services designed for professional athletes and their unique financial concerns.
Whatever you’re doing in Joliet and whatever you’re circumstance, if you have a certain amount of wealth, you owe it to yourself to at least consider working with a financial or investment advisor in order to save more time for yourself and create a sustainable level of personal wealth. We understand that the choice can be difficult depending on what you’re looking for, but we’re also confident that you’ll be able to make the right call after just a bit more research. You’re only a few phone calls away from positive change, so get started today.