One of the largest cities in Illinois and an excellent place to live on its own, Rockford has an industrial city and is still currently expanding into many different industries, making it home to many entrepreneurs, executives, working professionals, and other successful individuals. And if you’re one of them, we want you to enjoy your success instead of having to work to manage your wealth, so we recommend the use of a financial advisory firm to take the load off.
Yet which firm is the best choice for you? This can be a difficult thing to determine by yourself, so here are our top five choices for financial advisory firms for Rockford, Illinois:
1) HighTower Advisors, LLC
A firm with a massive presence across the state (and even country) that’s based in Chicago, HighTower Advisors, LLC has $48 billion in assets under management and has experience as an organization dating back to 2008. They are more than just a firm, and due to its scale is almost a network that won’t stop running no matter what might happen in a local area. Whatever you need, HighTower should be able to deliver.
They mostly rely on technology, prediction models, and meticulous research in order to help their advisors make the best decisions for their clients. Otherwise, the strategy may be determined by which advisor you work with.
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:
- Relative low fees and service charges compared to other firms in the region.
- A focus on clear and transparent communication with their clients.
- Advisors that work across the country. No matter where you are, in most states you’ll be able to easily continue working with them if you move.
2) Segall Bryant and Hamill, LLC
Our second choice for Rockford is the Chicago firm Segall Bryant and Hamill, a group with over $19 billion in assets under management and a history that goes back to 1994. With nearly 80 advisors, they also have offices in four other states, and can provide you with whatever you might need.
This is a firm that will carefully consider each security and potential investment and will look at every fundamental factor when building a portfolio.
Segall Bryant and Hamill is a fee-based firm that requires that you have $1 million in investable assets to work with them. This might change depending on your portfolio’s asset allocation.
You can expect the following working with Segall Bryant and Hamill, LLC:
- Experience working with high net worth clients.
- Several different types of services depending on what your goals and needs are.
- They will place their clients first and hold themselves to the fiduciary standard.
3) RMB Capital Management
Another firm that is based in Chicago, RMB Capital Management has been around since 2011 and has $9.1 billion in assets under management, making it one of the larger firms in the area. They are best for high net worth individuals based on their client make up, although they work with clients of all types.
Their strategy is long-term in nature, and wealth preservation is one of their main priorities. We recommend you take this into consideration when choosing a firm to work with.
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:
- Offices throughout the country, number 10 in total and each of them well-staffed, making RMB a great choice if you might be moving soon or have homes elsewhere.
- Specific departments for wealth management, asset management, and retirement planning and services.
- An approach to providing financial advice and planning service that is holistic, and will take into consideration every bit of information provided to them.
4) Rezny Wealth Management
Our fourth choice and an excellent firm from Naperville, Rezny Wealth Management is a firm founded in 1992 that has assets under management totaling about $158 million. Not a firm to slouch despite its smaller size (they have two advisors), they can provide the main services you would expect from them as well as pay each client the care and attention their assets deserve.
They will utilize plenty of different asset types to their clients’ benefit and will customize your portfolio depending on your preferences and financial situation.
Rezny Wealth Management is a fee-only firm that requires that you have $500,000 in your account to work with them.
You can expect the following working with Rezny Wealth Management:
- An incredibly responsible and reputable firm that takes it fiduciary duty seriously.
- A firm and advisors that will pay close attention to your portfolio and make changes as they would be beneficial to you.
- A staff dedicated to providing necessary personal attention to clients and their assets.
5) Focus Financial Advisors
With just under $100 million in assets under management, Focus Financial Advisors can be a great choice for people looking for a firm strictly within the boundaries of Rockford. With 35 years of experience as a firm, they are committed to their clients and can provide comprehensive financial planning services, investment management services, and more.
They pay attention to tax concerns and will use a variety of assets when building your portfolio. They also use a mix of strategies and will not buy and hold for the sake of it (although they aren’t short-term traders either).
Focus Financial Advisors does not have any noted account minimums or requirements, but we do recommend checking to see that the firm’s fees make sense for your financial situation. They are a fee-only firm.
You can expect the following working with Focus Financial Advisors:
- The ability to take advantage of long-term trends and more timely opportunities.
- They will take their fiduciary duty extremely seriously.
- The ability to help you create a trust for your family.
Whether you’re looking for a firm inside the city or are willing to travel a bit to find an excellent fit in Chicago, Rockford has plenty of great options to choose from and you don’t have to worry about your financial future if you’re ok with doing some legwork to find a perfect fit. Only you will know what this is based on your situation and priorities, so please take the time you need to make note of these things. We hope that you are able to find a partner soon and stop worrying about financial stability for years to come.