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Choose Local?

Why You Should Choose a Local Financial Planner in Chicago

As financial planners living and working in the Chicagoland area, we can provide you with expert advice that take into consideration the economic conditions of our city. You profit from our first-hand knowledge. And we keep up with the latest developments, so you can be confident that you're getting the most accurate advice.

Don't let an out-of-state financial planner persuade you to invest in strategies they aren't familiar with. Always work with a local financial advisor for the best results.

At Chicago Fee-Only, we're proud to be based in one of the most vibrant cities in the country. Our team is dedicated to providing high-quality advice and services that reflect the needs of our communities. We understand the local financial landscape and have a shared wealth of experience helping Chicagoans to make smart decisions with money.

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Here are ten reasons why choosing a local professional can make a big difference in your retirement planning. It's a decision you'll be glad you made in years to come.

  • 1) We're familiar with the local tax landscape

As Chicagoans, we understand the city and state tax laws that impact your finances. Our experts can reduce your tax bill by advising on the deductions and credits you may qualify for and helping you to plan your asset allocations accordingly.

When it comes to financial planning, one size does not fit all. Before recommending solutions, we'll always take the time to get to know you and your specific situation.

  • 2) We can help you plan for retirement in a tough economy

It's no secret that Illinois is suffering from an economic crisis. That's why property, state, and city taxes are skyrocketing. Our advisors calculate how much you will need in retirement to maintain your current standard of living and create a plan customized to you. We can compare living costs in different states to determine if other locations might be more attractive places to live out your retirement in style.

  • 3) Knowledge of retirement strategies specific to Illinois

Pension and retirement plans vary widely across the country. It can be tough for individuals to select the best financial outcomes from all of the confusing options on offer to them. Our team of qualified professionals  has years of experience helping Illinois residents maximize their retirement benefits from state-sponsored plans. We're here to help you understand and compare the different types of pension plans available to you.

Because we specialize in Illinois-based financial planning, we know the best ways to manage the State Universities Retirement System (SURS), the Teachers' Retirement System of the State of Illinois (TRS), Illinois Municipal Retirement Fund (IMRF), and all the other plans. We understand how these complex systems work, so we can help you make the most of them.

Corporate pension and retirement plans

Illinois is a popular location for corporate headquarters. Walgreens is the largest employer in the state, employing over 250,000 people, and there are nine other companies in Illinois with more than 75,000 employees each. Our experts have advised employees from these firms on their company's benefits packages, retirement plans, and 401(k) options, meaning we have the experience to give you the best possible advice.

Public sector pension and retirement plans

If you're a public sector employee in Illinois, we can assist in planning for a secure retirement on your government pension. Illinois has six different pension plans for public sector employees, with different rules and funding levels. Members can earn pensions across multiple systems. Our advisors are familiar with all of these plans and how you can optimize your benefits.

  • 4) We know where to invest in local property

Our knowledge of neighborhoods allows us to advise you on the best places to buy – whether you're looking for an investment property or to downsize in retirement. And if you're looking to relocate in the future, we can assist you in planning your exit strategy – including what to do with your pension plans should you decide to move or retire to a new state.

  • 5) We network with other local professionals to assist you

In addition to our team of financial planners, we have a network of local professionals – from real estate agents to estate planning attorneys – that we can connect you with. This allows us to provide a comprehensive approach to your finances, and ensure all of your needs are being met.

  • 6) We are legally obligated to act in your best interest

At Chicago Fee-Only, we are fiduciaries. That means we are legally obligated to always act in your best interest and will never recommend products or services that aren't useful to you. An out-of-state planner may not have the same legal obligation and might recommend high-fee products or services.

  • 7) Your local Financial Planner knows the job market

We know the local job market and can assist in making a retirement plan that considers your individual employment situation. For example, if you're unsure about whether you'll be able to retire at the age you want, we can create a plan for you that takes into account potential income sources from continuing working during your retirement.

  • 8) Local Financial Planners are more accessible

We understand the importance of being able to consult with your planner when you need. So we have convenient office locations in Chicago and the surrounding suburbs, and our advisors are available by phone, email, and video chat. We're not a big, faceless corporation; we're a collection of businesses that's been serving Chicago for decades. You can call, email, or meet with us in person as often as you like – we're always happy to help!

  • 9) Locals understand living in a high-cost city

Big city living comes with its own set of financial challenges. If you live in the city, Chicago is one of the most expensive cities in the country. The cost of living here is 23% higher than the national average, and housing and transportation costs are exceptionally high. We understand how tough these problems can be, which is why we provide financial advice and solutions for every step of your life, career, and retirement, including:

  • Young professionals starting out

  • Families with children

  • Empty nesters and retirees

  • 10) Local financial advisors are interested in your success

Chicago Fee-Only is committed to our city, suburbs and its people. We're proud to be a part of this community, and dedicated to providing our clients with the highest service. Our team is passionate about helping Chicagoans achieve their retirement goals, and we'll work tirelessly to get you there.

Get the best advice for your money

When it comes to financial planners, it pays to go local. We have the experience you can trust to guide you through every step of your journey. Choose a fee-only financial planner in Chicago for our:

Commitment to your success

Customized advice

Deep knowledge of the Chicago area

Fee-only structure

Independent status

Before deciding on your financial future, you want all of the information. That's why working with a fee-only financial planner is the smart choice. Contact us today to schedule a consultation. We'll be happy to answer any questions you might have and start you on the right financial path.