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Milwaukee, Wisconsin

Top 10 RIAs in the Milwaukee Metro Area

By: Gui Costin

Originally posted on January 11, 2022
Last updated on April 28, 2022

If you're in investment sales, you likely already know that one of the biggest problems of selling to the RIA (Registered Investment Adviser) marketplace is the sheer size of it.

The RIA market across the United States consists of over 36,000 firms, which means that while there are plenty to choose from when looking for new clients, narrowing down the list to only those that allocate to outside managers is going to be key.

Here at Dakota, we’ve raised over $6 billion from over 350 RIAs, and that has been possible because we qualify and curate our list to only RIAs that allocate to outside managers.

In an effort to help narrow down the sheer size of the market, we’ve put together a list of the top 10 RIAs in each major metro area across the country. To determine our list, we looked for three things:

  1. An AUM above $200 million
  2. A dedicated analyst team
  3. An RIA that actively allocates capital to outside investment management firms

We have qualified 13 RIAs with AUMs ranging from $7.9B to $49M in Milwaukee that meet our criteria.

Below are the top 10 RIAs in Milwaukee from that list. However, this is by no means a “best of” list, as there are so many high quality RIAs in Milwaukee and around the country. We just wanted to give you a place to start.

1. Johnson Financial Group

AUM: $7,968,761,778

From Johnson Financial Group's website, they were founded on Samuel C. Johnson's vision of unmatched personal service and a commitment to their communities. In 2004, Sam passed away leaving a legacy that continues to inspire them all. They have $15 billion assets under administration and $2 million annual charitable giving. 

2. Heck Capital Advisors 

AUM: $5,959,673,065

In Heck Capital's words, they're an Independent Registered Investment Advisory Firm that provides comprehensive investment management, personalized advice, and strategic financial guidance. They serve goal-driven individuals, families, established institutions, non-profit organizations, and foundations/endowments. They strive to help their clients simplify their financial lives, achieve their investment objectives, and create lasting legacies.

3. Vogel Consulting

AUM: $2,400,000,000

Founded in 1993, Vogel Consulting is an independent, multi-family office serving affluent individuals and private families. The firm was founded on the principle of integration and offers a full suite of family office services. Vogel advises on nearly $3 billion, and is one of the country’s largest independent multi-family offices.

4. Annex Wealth Management 

AUM: $1,827,522,389

From Annex Wealth Management themselves, their team approach means their clients consistently interact with a group of experienced professionals boasting key credentials, certifications, and achievements in investment, tax, insurance, estate planning, and more.

5. Pegasus Partners 

AUM: $1,380,769,325

In Pegasus Partner's words, their firm is made of comprehensive wealth management for a single fee on investable assets with a focus on Investment Management, Financial Planning, and Family Wealth Transfer.

6. Diversified Management

AUM: $1,019,999,212

From Diversified Management themselves, in addition to sustaining and growing their clients’ wealth over time, they provide extra value by helping to identify and address the financial needs they encounter along the way. They develop close relationships with their clients to provide them with the highest level of service and attention. Their client-driven approach is markedly personal and founded on integrity, knowledge and professionalism.

7. The Invictus Collective 

AUM: $1,000,000,000

In The Invictus Collective's own words, their team is comprised of wealth management experts guided by an entrepreneurial ethos. They believe the will of the individual can be unconquerable. They are grounded in traditional values, with an emphasis on family, which guides the care and service they provide to their clients.

8. Madison Wealth Management 

AUM: $400,000,000

From Madison Wealth Management's website, since its founding in 1974 the organization has grown from a local investment adviser to a multi-billion dollar investment organization that services clients across all fifty states and Canada. They aim to provide clients a range of investment strategies across mutual funds, managed accounts and customized investment portfolios.

9. Richardson Capital Management 

AUM: $365,642,931

According to Richardson Financial Group, they've served as a strong financial partner to successful individuals and families since 1969. Their firm has developed a valued niche assisting current and former owners of family-owned businesses through a highly personalized consultative relationship.

10. Leverty Financial Group 

AUM: $316,210,280

Based on Leverty Financial Group's website, they are an SEC-registered independent wealth management firm, dedicated to helping clients secure the financial future they envision. They work with retirees and other successful executives and individuals considering retirement. They also help institutional clients develop and manage their corporate retirement plans.

 

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