Top Financial Advisors in Barrington, IL

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Sequoia Wealth Management (SWM) is a fee-based firm whose minimum account size varies based on the service that's provided. Most of the firm's clients do not have a high net worth, although some do. Account minimums generally range from $15,000 to $250,000, depending on what services are provided.

Advisors are also brokers and insurance agents. In these non-advisor roles, they collect transaction-based fees from vendors, which can potentially pose conflicts of interest. That said, as an SEC-registered firm, Sequioa must abide by its fiduciary duty to put clients' interests before its own.

The firm charges its clients asset management fees that are based on how much money they have under the firm's management. SWM also charges an hourly or flat fee for financial planning and consulting services. These fees can reach $500 an hour or up to $25,000 on a fixed basis. 

The firm's advisory team has a variety of certifications, including the chartered life underwriter (CLU), certified financial planner (CFP) and chartered financial consultant (ChFC) designations. (Advisors may have more than one credential).

Sequoia Wealth Management Background

Robert Lyman founded Sequoia Wealth Management in 2014. He is the managing partner and sole owner of the firm. 

The firm offers asset management, which may include the advisory services of a third-party money manager. Asset management may also be part of advisory programs sponsored by LPL Financial that may be on wrap fee basis. Additionally, Sequoia Wealth provides financial planning and consulting, including retirement plan consulting. 

Sequoia Wealth Management Investing Strategy

Through LPL Financial, clients have access to several different investment solutions, including model portfolios, customized portfolios and robo-advisors. Advisors will help clients choose the appropriate investment solution based on their goals, risk tolerance and financial situation. Generally speaking, the practice applies charting, fundamental analysis, technical analysis and cyclical analysis when evaluating securities. It may engage in long-term purchases, short-term purchases, trading, short sales, margin transactions and option writing.

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Piershale Financial Group has a client base composed entirely of individual clients. Of these individuals, most do not have a high net worth. 

The account minimum for the firm's asset management services is generally $300,000, whereas the minimum for investment consulting is much lower, at $10,000. The firm is fee-only, which means advisors collect fees only from their clients. They do not receive transaction-based fees from vendors, which can pose conflicts of interest.

Piershale Financial Group's four advisory staffers have a range of professional certifications.

The firm's four professional advisors have a variety of certifications, including chartered financial consultant (ChFC), registered financial consultant (RFCs) and chartered financial analyst (CFA). 

Piershale Financial Group Background

Piershale Financial Group opened in 2000, but it wasn't until 2011 that it registered as an investment advisor with the SEC. Founder Michael Piershale is the sole owner of the firm and serves as its chief compliance officer (CCO) and president.

The firm provides investment management and consulting services. These offerings are quite comprehensive and encompass portfolio creation and ongoing supervision. Investment consulting is closer to financial planning and covers issues like retirement income planning.

Piershale Financial Group Investment Strategy

In providing ongoing investment management services, Piershale Financial Group looks to develop individualized investment strategies for all clients. Advisors take into account their personal risk tolerance, investment objectives and current financial and tax situations in order to properly and effectively manage their accounts. They also monitor and rebalance portfolios on an as-needed basis to ensure the intended investment plans remain intact.

When it comes to evaluating investments, advisors at Piershale use both fundamental and technical methods of analysis. While advisors invest client assets by taking advantage of both long-term trading and short-term trading, their primary investment strategy is the "Advance and Protect" strategy. This tactical approach to investing seeks to preserve wealth over the long term, while capturing gains from advancing markets.

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Carter Financial Group works almost exclusively with individual clients. Of these individuals, the majority do not have a high net worth. However, it still works with a solid handful of high-net-worth individuals. Institutional clients at the firm include a small number of charitable organizations.

Carter doesn't have a minimum account size requirement. It is a fee-based firm, though. This means that advisors can receive commissions for the sale of financial products from third parties, on top of the fees that advisory clients pay. This is a potential conflict of interest, but the firm is a fiduciary and is legally obligated to act in the best interests of clients at all times.

The firm's advisory staff is comprised of two certified finanical planners (CFPs). 

Carter Financial Group Background

Carter Financial Group was founded in 2019, making it the youngest firm on our list. While it was originally registered at the state level, Carter swapped that registration out for an SEC registration in mid-2020. Kevin Carter is the firm's sole principal owner.

Carter provides its clients with both investment management services and financial planning services. Most of the firm's assets are managed on a discretionary basis.

Carter Financial Group Investment Strategy

Carter Financial Group works like many other investment management and financial advisory firms out there in that it looks to tailor its advisory services and investment strategies to the individual needs of clients. It does so by meeting with clients to learn their tolerance for risk, overall financial situation, liquidity needs and other important factors.

Advisors may invest client assets in a variety of ways. They may use model portfolios or a variety of different investment securities. It may also use a variety of different methods of analysis, depending on what is appropriate for the client's account.

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Virtue Asset Management, a fee-only practice, requires a minimum account size of $1 million. As a result, most of its clients are high-net-worth individuals. However, the firm does work with individuals without a high net work, as well as retirement plans, corporations and businesses. 

As a fee-only practice, Virtue's advisors do not collect commissions or third-party compensation for recommending securities or insurance. Instead, the firm collect client-paid fees that are based on how much money a person has under the firm's management. 

Virtue's small staff features two advisors, one with a certified financial planner (CFP) designation and the other who has both the CFP and also the chartered financial analyst (CFA) designation. 

Virtue Asset Management Background

Founded in 2016, Virtue Asset Management is owned by Robert P. Finley, an advisor with the CFA and CFP designations. In addition to its headquarters in Barrington, Virtue has branch offices in Chicago and Glenview, Illinois. 

Virtue can provide clients with discretionary asset management and financial planning services. The latter offering may include retirement planning, philathropic giving, estate planning, wealth transition, business succession planning and the recommendation of third-party managers. 

Virtue Asset Management Investment Strategy

Before building a client's portfolio and investing their money, Virtue Asset Management examines each client's current investments, identifies their investment objectives, goals, age, time horizon, financial circumstances, investment experience and other relevant factors. From there, the firm selects mutual funds, exchange-traded funds and individual securities, including fixed income securities. When analyzing investments, the firm relies on quantitative methods, computer-based risk/return analysis, technical analysis and computer models that utilize long-term economic criteria.