The Top Financial Advisors in Wisconsin

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Madison Investment Advisors takes the No. 1 spot on our list of the top financial advisors in Wisconsin. The firm bears the same name as the city it's headquartered in (Madison). It's also by far the largest firm on our rankings, both in terms of assets under management (AUM) and client base. The majority of the firm's clientele are individuals, both above and below the high-net-worth mark. Other clients include charities, retirement plans, businesses, insurance companies, banks, government entities and other investment advisors.

To become a client of Madison Investment Advisors, you'll need to meet certain minimums. For individuals, $500,000 is needed for equity or fixed-income portfolio management.

As you might expect from a firm of Madison's size, its advisors hold a wide range of certifications. These include chartered financial analysts (CFA) and Certified Financial Planner™ (CFP®). Madison is a fee-only firm, meaning its advisors do not receive additional compensation for selling insurance or securities, which would constitute a conflict of interest. 

Madison Investment Advisors has been in business since 1974. The firm is a subsidiary of Madison Asset Management, LLC, which is itself a subsidiary of Madison Investment Holdings, LLC. Outside of its home office in Madison, the frim has an office in Milwaukee. 

The services at Madison are extremely investment-centric. The firm specializes in portfolio strategy construction, which it does from scratch based on independent research. The firm's financial planning services comprise the review of investments, asset allocation, risk management, retirement plans, estate plans and other areas to help clients identify long-term goals, develop asset allocation plans or create lifetime income strategies.

The firm's primary expertise is in active bond management, risk-managed equity management and customized multi-asset portfolios.

As for equity strategies, Madison is a bottom-up stock picker focused on high-quality companies with consistent growth that trade at reasonable valuations. For fixed income, Madison utilizes a top-down investment process that emphasizes capital preservation through active management. 

Some clients receive asset allocation recommendations that include a wide range of mutual funds and exchange-traded funds (ETFs). To be recommended to clients, an investment must meet certain objective criteria, including performance, expenses, volatility and other factors.

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Johnson Wealth Inc. is the runner-up on our list but is our No. 1 firm in Milwaukee. This fee-based firm typically recommends that clients have a minimum of $1 million to invest, but will set up a separately managed account for clients with $200,000. The firm works with individuals, high-net-worth individuals, trusts, charitable organizations, government entities, other investment advisors, corporations and businesses.

As a fee-based firm, certain advisors at Johnson Wealth or its affiliate, Johnson Bank, receive referral fees and/or compensation for referring clients between the two entities. This can create a conflict of interest because advisors have a financial incentive to make certain recommendations over others. However, the firm has a fiduciary duty to always act in its client's best interests. 

Johnson Wealth was founded in 2003, but it can trace its history back to 1987 when its predecessor businesses were originally established. In 2018, the firm changed its previous name, Cleary Gull Advisors, Inc. The firm is owned by Johnson Financial Group, which is a multi-industry financial services company.

Investment management remains the primary service offered at Johnson Wealth. It does this on both a discretionary and non-discretionary basis. The firm also provides retirement planning services to airline pilots and other individuals through their respective companies' 401(k) plans. 

Johnson Wealth uses a long-term, asset-allocation-driven investment approach tailored to each client’s objectives, risk tolerance and financial circumstances. The firm combines quantitative and qualitative analysis to select managers, funds and securities, emphasizing adherence to clear strategies and disciplined processes. Portfolios may include mutual funds, exchange-traded funds (ETFs), individual stocks and fixed income. The firm may also provide advice on various alternative investments like private equity, private credit, hedge funds, commodities, real estate investment trusts and master limited partnerships.

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In order to become a client of Rhinelander-based Heck Capital Advisors, you'll need at least $1 million in investable assets. This minimum is negotiable though, which is why the firm technically works with more individual clients below the high-net-worth threshold than those above it. Charities, banking institutions, retirement plans and businesses round out the rest of Heck's client base.

The firm's team of on-staff advisors holds a variety of professional certifications, like the Certified Financial Planner™ (CFP®), certified investment management analyst (CIMA), accredited investment fiduciary (AIF), chartered financial consultant (ChFC), chartered financial analyst (CFA) designations and more.

Heck Capital Advisors has been in business since 2007. Like many other firms on this list, Heck Capital Advisors' services are focused on investment management and portfolio creation. The firm also provides financial guidance, though, in relation to topics like retirement, taxes, estate planning, philanthropy, real estate, education planning and more.

Heck Capital Advisors builds clients' portfolios based on what's important to them. For example, the firm will take into account both your long- and short-term goals, such as retirement or saving up for a house, respectively. Beyond that, the firm will incorporate your risk tolerance, time horizon, income needs and more into the exact investments that are made in your name.

Once the above factors are clear, your advisor will formulate an asset allocation for your portfolio. This will dictate what types of investments your portfolio will comprise, with specific choices being made due to their inherent risks and return upsides.

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Annex Wealth Management, a fee-only firm based in Brookfield, serves a predominantly individual client base, with nearly twice as many non-high-net-worth clients as high-net-worth ones. In addition to individuals, the firm advises retirement plans, as well as charitable organizations, government entities and businesses.

There is no set account minimum for becoming a client of Annex Wealth. The firm's staff has a number of advisory certifications, including the Certified Financial Planner™ (CFP®), chartered financial analyst (CFA), accredited investment fiduciary (AIF) designations and more.

Client-paid fees are Annex Wealth Management's sole source of revenue, making it a fee-only firm. Advisors do not earn commissions for recommending insurance or financial products. 

Annex Wealth Management was established in 2001 by founder Dave Spano, who remains its owner. Beyond its headquarters, the firm also has offices throughout the state in Pfister, Appleton, Lake Country, Mequon, Madison, as well as in Naples, Florida, and Libertyville, Illinois.

Rather than focus on investing, Annex takes a more holistic approach to its services. While this includes investment management, it also integrates various types of financial planning, like retirement planning, estate planning, tax planning, cash flow projections and more.

Annex Wealth Management uses a core and tactical investment approach, constructing globally diversified portfolios that combine a long-term core allocation with tactical adjustments intended to address risk and capture opportunities. The firm applies fundamental, technical and valuation analysis through a team-based process that incorporates regular investment committee discussions, third-party research and internal tools.

Portfolios may hold ETFs, equities, fixed income, mutual funds, cash, options, alternative investments and customized indexing. The composition of a portfolio will be based on each client’s objectives, risk tolerance and time horizon. The investment process includes periodic rebalancing, attention to costs and ongoing monitoring to reflect market developments and changes in client circumstances.

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Orgel Wealth Management, the next firm in Wisconsin, is a fee-only firm, which means the entirety of its compensation comes from client-paid fees rather than outside commissions. Headquartered in Altoona, Orgel Wealth management has over $8 billion in assets under management. In most cases, prospective clients will need at least $1 million in investable assets to work with Orgel. However, the firm may be willing to reduce this requirement.

The client base at this firm mainly comprises individuals, both with and without a high net worth. Retirement plans, businesses and charities are also clients of Orgel. The team of advisors who manage these clients' funds include chartered financial analysts (CFAs), Certified Financial Planner™ (CFP®), certified investment management analysts (CIMA) and more. 

Orgel Wealth Management was established in 2013 by founder Mark Orgel. Orgel still owns part of the firm, along with six other principals. This firm divides its services between investment management and financial planning. The former involves building clients' portfolios according to their needs. On the other hand, financial planning can include tax planning, budgeting, education expense planning, retirement planning, estate planning and more.

The firm also additional offices in Onalaska, Wisconsin, and Minnetonka, Minnesota.

Your advisor at Orgel Wealth Management will meet with you to discuss your goals and other factors before determining the best investment strategy for you. This can include going over your risk tolerance, time horizon, income and liquidity needs, investment preferences and more.

When it's time to invest your money, Orgel will primarily look to invest for the long term. Of course, if you have shorter-term objectives, the firm may also adjust it's overarching philosophy to fit your needs. In general, the firm invests in mutual funds, exchange-traded funds (ETFs), bonds, as well as cash. The firm may also allocate your assets to individual stocks and private investments, such as private debt, private equity, hedge funds, and real estate investment trusts. Investment decisions are not limited to any specific security or product. 

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Nicolet Wealth Management, a fee-based firm located in Green Bay, is the next practice on our list of the top firms in the state of Wisconsin. The firm primarily serves individuals and high-net-worth individuals through a wrap fee program, but also works with charitable organizations, government entities, corporations and businesses. 

Nicolet does not impose a minimum portfolio value for clients, but it recommends those with under $250,000 to invest enroll in its Select Service Team program. These clients receive personalized, goal-based investment strategies with automated portfolio management but limited advisor contact. Select Services Team fees are lower, making it a more cost-efficient alternative to traditional advisory services for clients who are still building their wealth.

The Nicolet team includes advisors with a variety of professional certifications, including the chartered financial analyst (CFA), Certified Financial Planner™ (CFP®), accredited investment fiduciary (AIF) designations, among others. However, as a fee-based firm, advisors aren't compensated solely by the fees that advisory clients pay. Instead, some advisors also earn commissions for selling insurance or securities, which can lead to a conflict of interest. Then again, the firm is a fiduciary and is legally obligated to act in your best interests. 

Founded in 2016, Nicolet Wealth Management is owned by Nicolet Bankshares, Inc., a publicly traded company. The firm offers clients different financial planning and consulting services, including estate planning, investment consulting, retirement planning, budget planning. 

Nicolet typically manages client assets on a discretionary basis, meaning its advisors have control over the trades and transactions made within a client's account. The firm primarily allocates client assets to mutual funds, exchange-traded funds (ETFs) and individual debt securities. 

Advisors may employ a number of strategies when managing client accounts, including strategic risk-based asset allocation, active risk-based asset allocation and strategic targeted objectives. These strategies involve a combination of passively and actively managed funds. 

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Baker Tilly Wealth Management, formerly known as Baker Tilly Financial, is a large financial advisory firm based in Madison. The firm does not have a specific minimum investment required of new clients, and it works quite heavily with individuals and high-net-worth individuals. The firm also maintains advisory relationships with government entities, retirement plans, corporations and businesses. 

Certain advisors who work at Baker Tilly have the ability to receive commissions from insurance policy sales to clients, making it a fee-based firm. While this can induce a potential conflict of interest, the firm's fiduciary duty requires it to act in clients' best interests no matter what.

While Baker Tilly was founded in 2013, the firm is owned by parent company Baker Tilly U.S., LLC, which has been in business since 1931. The firm offers investment consulting, private wealth portfolio management, retirement plan consulting and advisory services for government entities. Services include financial planning, asset allocation, investment manager oversight, retirement and estate planning, tax and insurance consulting, and ongoing portfolio monitoring. They also coordinate with third-party managers, advise on alternative investments and offer fiduciary and non-fiduciary services for ERISA plans.

When you become a Baker Tilly client, the firm will build an investment policy statement for you. This will detail your investor profile, your risk tolerance, your time horizon and other factors. Based on these insights, your advisor will design an investment strategy and asset allocation for you.

Advisors typically allocate client assets to mutual funds, exchange-traded funds (ETFs), model portfolios, as well as individual debt and equity securities. The firm may also recommend the use of third-party managers or private placements. 

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North Star Asset Management in Neenah has a client base made up primarily of individuals, including those with a high net worth. The firm also works with retirement plans and charitable organizations. 

North Star doesn't have a minimum needed to access its services, which makes it technically accessible to anyone. However, the firm does generally charge a minimum annual fee of $6,000 for investment advisory services.

This fee-only firm has a sizable team of advisors. These advisors hold various professional certifications, including the chartered financial analyst (CFA), certified public accountant (CPA) and Certified Financial Planner™ (CFP®) designations. 

Founded in 1996, North Star is a completely independent firm. This means that it's entirely owned by its in-house employees, with no outside companies or intermediaries involved at any level. 

The firm personalizes its portfolio and financial plans according to your and your family's individual needs. Financial planning can cover retirement planning, cash flow projections, charitable gift planning, tax reporting and more.

As we stated above, North Star will build an investment portfolio plan specifically for you. This involves meeting with your advisor and discussing your plans for the future, as well as what assets you currently have available to you. Based on these findings, you and your advisor will agree on a time horizon, risk tolerance and other factors, which will dictate your portfolio's construction.

This firm has a wide range of potential securities it's willing to consider for clients' portfolios. These include common and preferred individual stocks, ETFs, mutual funds, municipal bonds, corporate bonds, money market funds, options, certificates of deposit (CDs) and U.S. government bonds.

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IAG Wealth Partners, founded in 1985, is a fee-based advisory practice headquartered in Waukesha. The firm primarily serves individual clients above and below the high-net-worth threshold. However, IAG also works wtih charities, corporations and other business entities. 

While there is no firmwide account minimum, certain programs have minimums ranging from $1,000 to $250,000. The firm's services include comprehensive financial planning, investment management, retirement planning, consulting and coordination with third-party managers. As a fee-based firm, its advisors can also earn commissions from securities and insurance sales, creating potential conflicts of interest. However, keep in mind that IAG has a fiduciary duty to disclose these conflicts and always act in your best interests. 

IAG has more than a dozen financial advisors on staff, many of whom hold professional credentials, including the Certified Financial Planner™ (CFP®), chartered retirement planning counselor (CRPC) and certified divorce financial analyst (CDFA) designations.

IAG’s investment approach favors a long-term, buy-and-hold philosophy, though portfolios are monitored and adjusted as needed. Strategies may use both model-based and custom portfolios, incorporating mutual funds, ETFs, equities, fixed-income securities, and, in some cases, less-liquid investments like partnerships.

The firm also offers access to third-party portfolio managers and various LPL Financial-sponsored advisory programs. Investment decisions factor in the client's risk tolerance, time horizon and objectives, with asset allocation playing a central role. IAG uses fundamental and cyclical analysis to evaluate opportunities and diversifies across asset classes.

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Ellenbecker Investment Group (EIG) is a fee-only advisory firm that was founded in 1996 and registered as an investment advisor in 2014. It works mainly with individuals and high-net-worth individuals, but also offers services to institutional clients like charities and corporations. While there is no account size requirement, EIG charges a $2,400 minimum annual fee for investment management.

The EIG team features advisors and associates who hold the Certified Financial Planner™ (CFP®), chartered financial consultant (ChFC) and accredited investment fiduciary (AIF) designations, among others. As a fee-only practice, EIG and its advisors do not receive commissions for securities or insurance sales. 

The firm provides financial planning, retirement plan consulting, discretionary investment management and educational workshops. Planning may address investments, retirement, tax, insurance and estate issues, and can include creating an investment policy, setting asset allocations and reviewing progress over time.

EIG builds portfolios using research from Capital Markets Consultants along with its own analysis. Model portfolios are tailored to each client’s objectives, risk tolerance and restrictions. The firm uses fundamental, technical, charting and cyclical methods of analysis.

Portfolios may include stocks, bonds, mutual funds, ETFs, options, real estate and energy partnerships, as well as alternative assets. Third-party managers may be engaged for specific strategies, such as large-cap dividend growth equities or investment-grade corporate bonds. Asset allocations are reviewed and updated based on market conditions and client needs.