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Objective, Independent Financial Advice. That's what you get at Evanston Advisors. We are a Registered Investment Advisor, a holistic private family office firm offering comprehensive financial guidance and administration for families.
Since 1982, Evanston has always focused on helping people get the answers and service they need. We offer planning and advisory services in the areas of securities investments, estate planning, trust planning, budgeting, transition planning, college funding and tax counseling.
We believe that getting to know you, and letting you get to know us, is the best way for us to help you build a better life.
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A Focus on People
As a CPA and Audit Manager with Price Waterhouse & Co., Keith Cantrell got particular satisfaction from working closely with the businesses that were his clients. But he knew that close contact with clients and the opportunity to become part of their lives was likely to diminish if he followed a career path to become a partner at a multinational accounting firm. He wanted to continue building relationships and helping clients realize their financial dreams, so in 1982, Keith and his wife, Debbie, who was an officer of the Northern Trust Bank working in commercial lending, founded Evanston Investments.
Since they each came from a fee-based background, they established a fee-based business, which was fairly unusual in 1982. But Keith believed that by being fee-based rather than product-driven, he would be better able to provide unbiased, customer-focused advice.
The young firm developed an expertise guiding business owners, particularly those transitioning through a succession or sale, as well as individuals, especially those with complex assets. The firm's success was found in Keith and Debbie's intuitive ability to help individuals and business owners define their life's financial goals, establish clear action plans, oversee complex transaction execution, and manage the clients' affairs in a tax-efficient manner.
Wealth accumulation was the by-product for many of these clients, often through the sale of their business, and they wanted Evanston to manage that money. The clients felt that, having guided them through some of the most complex and important financial decisions of their lives, Evanston would be the right partner to help them continue on their journey. They had developed a deep relationship with Evanston, one based on mutual trust and understanding, and although they realized they needed help in investing their money, they wanted Evanston to provide that help.
In response to that growing chorus, Evanston began to add investment management in the early 1990s. Nathan Snodgrass was hired in 1993 to assist with the development of the firm's growing professional portfolio management responsibilities. Nathan's training as a Chartered Financial Analyst and Certified Financial Planner would prove to be invaluable in the establishment of the firm's practice and discipline of long-term-balanced asset allocation investing. The success of this sound approach and Nathan's commitment to the firm earned him an equity partner position in 1998.
Finding the Right Fit
After Dave Jackson sold his home health care business, he found himself, for the first time in his life, with cash to invest. He sought advice from his banker and insurance broker - the financial experts he had relied on as a business owner - and he ended up as a client of one of the major wire houses. But his experience there left him feeling empty. As an entrepreneur, he was used to being in charge and to understanding what was going on. But the wire house did not keep him informed, did not reach out to him, did not respond in a meaningful way to his questions. Even the financial plan the firm created for Dave seemed to him to reflect the underlying problem: it looked impressive, but it did not reflect the reality of Dave and his family. And how could it, since the broker did not really know much about Dave and his family?
Through a series of introductions, Dave met Evanston founder Keith Cantrell. He discovered that Evanston placed the highest value on communication and building relationships. The firm understood that, as an entrepreneur, he had a high tolerance for risk but he also had a fear of losing the money that represented his life's work. He found people who were willing to get to know and understand him so that they could work with him to achieve his goals. He was impressed -- so impressed that he not only moved his portfolio to Evanston, but also bought a one-third interest in the firm. Today, he is a principal of Evanston, building relationships with clients who, like him, want to understand and be part of their own financial future.
Today Evanston Advisors is a collection of talented professionals "investing themselves in others by helping them accomplish their financial goals." We work alongside successful people helping them harvest wealth from their businesses, plan for financial security, and invest with a focused discipline on achieving balanced long-term results.
In fact, as affluence increases, the number of life choices grows exponentially and the choices become more complex. As life gets more complex, how do you make the right decisions? How do you make sure you Live Well?
At Evanston, we believe Living Well goes beyond enjoying financial success. We believe Living Well is a process, not a destination. It begins with identifying what you value most in life. Your list of values might include family, learning, helping others, leaving a legacy, faith, and security to name a few. Next, determine what causes you to jump out of bed in the morning. What are the desires and pursuits that really excite you? With your values and pursuits in mind, paint a mental picture of a compelling vision for the future. You might even boil this vision down to a one paragraph personal mission statement. Now you are ready to Live Well by setting goals and taking actions that help you get to your vision of the future.
Of course life changes, and you will need to revisit your personal vision, mission and goals to make sure they still match your values and purpose. We are often amazed at the power behind clarifying vision, mission and goals - by creating a life road map, you can achieve amazing results.
Determining your family's personal financial strategy involves matching what you want out of life with what your financial resources will enable your family to achieve.
To be effective, a personal financial strategy must be an on-going, dynamic process. It needs to evolve over time, adapting to new and changing events, while embracing the opportunities that accompany financial success. It is a process that uncovers what is most important to you. One that makes your family's goals and dreams a reality.
At Evanston Advisors, we understand how fast the world is moving. As your range of financial choices grows, we stay in step with you, helping to simplify and fine-tune your financial decisions. We help guide those decisions and choices using our awareness of your family's needs and goals as our compass. We stay focused on building your financial future so you can stay focused on enjoying the present.
Every successful family, like every successful business, needs its own CFO - someone to oversee its financial life. Evanston Advisors wants to be the CFO for you and your family. We will give you objective, professional guidance and make sure that all the elements of your financial picture work together and in your best interest. We are committed to:
Understanding your whole financial world, and each of its parts. We stay on top of things for you, so that you can focus on living your life and enjoying your success.
Coordinating and working with your financial service professionals, including CPAs, attorneys, insurance professionals and more. If you need help finding such professionals, we can make referrals.
Providing you with unbiased advice on all your financial decisions - always considering the tax and lifestyle impact of those decisions.
Evanston's unique Financial Position Summary (TM) (FPS(TM)) works like the GPS in your car - it shows you where you are. We gather all the aspects of your financial life, from the names and addresses of your kids to the particulars of your holdings, and put them together in a comprehensive, easy-to-read format that makes it simple to understand where you are. And that makes it easier for you to get where you want to go.
Sample Financial Position Summary.pdf
We know that you are unique, with your own goals, expectations and concerns. We don't look at investment management as a way to fit you into predetermined categories.
We also know that the most effective way to manage your money is to look at how all of your assets are being managed. We want to help you understand how your investments fit with the rest of your financial world. We can help you avoid redundancy and increase the efficiency of multiple portfolios, creating a holistic investment approach that is designed to help you to realize your dreams.
At Evanston, the investment process starts with conversation. We will spend as much time as needed getting to know you, understanding your financial world and what you hope to achieve through your investing.
Your financial and life situation, as well as the capital markets, change constantly. We will work with you to understand those changes and to make sure that your portfolio reflects both your reality and the reality of the markets.
We take no commissions for any investment products; our only compensation is a fee based on a percentage of assets under management. As a result, we select investments based solely on the appropriateness for your entire portfolio, not based on how we get paid.
You want the wealth you are building to outlast you, to continue to take care of the people you love and the causes you support long after you no longer can. The way your estate plan is structured is critical to making that happen in the fullest possible way.
If your estate plan is incomplete, outdated or simply wrong for you, too much of what you have built could go to taxes, limiting your ability to provide for your heirs and support causes that you care about. Your wealth, and your hopes and plans for using that wealth, are part of your personal story. Your estate plan should help you complete your story in the way you intend.
Every estate plan should have some basic elements:
If your estate is more complex, you can protect the people and causes you care about through a variety of other vehicles, including charitable remainder trusts, irrevocable life insurance trusts, family limited partnerships, and other planning tools custom tailored to assure your assets are distributed according to your wishes.
"One size fits all" financial guidance, in our opinion, simply does not work. Every situation is unique, and no two families have the same dreams and goals. We believe that an "off the shelf" financial plan computer generated for the purpose of selling you a "product" cannot come close to understanding your objectives, or providing a strategy to achieve them. That type of understanding is gleaned from an insightful review of your personal situation - something that can only be accomplished by being in relationship with you.
Our guidance always starts with a review of your financial goals. We believe this is the most important part of the process. Without understanding what is important to you and your family, none of the financial planning tools available to you can be brought to bear appropriately. Once we understand your goals, we review your income, your expenses, your assets and liabilities. Upon completion of our review, we embark on a series of discussions with you to help you understand where you are, and how to get to where you want to be. Moreover, we help you understand the ramifications of the choices that life presents to you.
We want to be your family's Personal CFO.
Clickhereto see our core advisory services
In addition to Portfolio Advice, Estate Planning and Financial Planning your family may require additional customized services to help you enjoy your wealth without worrying about the challenges of administering your finances. While each family is different, some of the typical family office services include:
Family Office Services:
Holistic financial planning
Portfolio advice
Net Worth administration
Family finance administration
Comprehensive tax planning and optional tax preparation
Consolidated investment reporting
Next generation training and education
Family consulting, governance, meetings and retreats
Strategic philanthropy and administration
Charitable vision trips
Trust administration
Business owners indicate the most important transition objectives include:
However, studies suggest that 75% of owners regret selling their business 12 months after the closing. We have studied and work with the other 25% who feel satisfied after they have successfully transitioned from their business. The distinguishing factor in successful transitions is the presence of a transition process or plan.
To help you execute a successful transition we pair owners with a Lead Advisor who is a former business owner that has successfully transitioned. They are experts because of their real life experience of having "been there done that". The role of your Lead Advisor is to consult and mentor you through the five habits of highly successful business transitions TM.
YOUR STORY: personal assessment and case study interview
PROTECT: essential estate planning and shareholder/operating agreements
ENHANCE: valuation, value drivers, pre-due diligence, advanced estate planning
HARVEST: transition management first then, transaction management
DIVERSIFY: first yourself and then your money
If you are like most people, transitioning from your business is a once-in-a-life-time event. You need to get it right!
General financial advice and guidance
Financial Position SummaryTM
Financial decision analysis
Investment strategy and policy
Tax planning and optional tax preparation
Estate planning, design, review and maintenance
Income planning
College saving planning
Charitable giving and volunteer advice
On December 31, 2011, Evanston Advisors updated the client portal and account login process. This upgrade to our systems will require new credentials. To receive new credentials please contact Kathy Hoffman at 847-907-3827 or at khoffman_evanstonadvisors.com or David Edwards at 847-397-6989 or at dedwards_evanstonadvisors.com
This document below details the features and instructions for using Evanston's Client View.
Clicking on the link below will take you to your new Client View Dashboard.
ClientViewUserGuide.pdf
A custodian is the entity in possession of the client's assets. Our primary custodians are Charles Schwab and Fidelity.
As a matter of law, Evanston Advisors is a Registered Investment Advisor (RIA). We are not a broker-dealer.The basic difference is that a broker receives commissions, while typically an RIA charges a fee. Another important distinction is that an RIA is held to the higher fiduciary standard of "client's best interest," while a broker is only held to the standard of "suitable advice."
Evanston Advisors considers financial planning to be the heart of the wealth management process. We view investment advisory services to be an important component of the client's holistic financial plan. In contrast, a broker typically regards investments as the heart of their business model. A broker might offer financial planning advice as an ancillary service, but they usually will not be trained as a financial planner or take responsibility to implement a financial plan. In addition, if they are not compensated for financial planning services, their scope is usually much more limited. For example, a broker will not typically give specific estate planning or provide proactive tax planning, but instead rely on the client's other advisors.
Our advisors generate value added ideas and focus on implementing decisions while maintaining financial independence.
Banks typically recommend and sell their proprietary products for which someone earns a commission. Evanston Advisors provides an objective and open architecture service.
Banks typically provide minimal advice concerning services or products available from outside the bank. This can be ascertained by asking them details concerning their business model and how their employees are compensated. In addition, very few banks offer holistic wealth management services which include financial planning. The independence of our advice and recommendations continues to be a valuable distinguishing characteristic among clients.
A money manager is a business responsible for managing the securities portfolio of an individual or institutional investor. In return for a fee, the money manager chooses and manages investments for his or her clients, including buying and selling securities within a particular style of investment which may not be diversified. Financial planning advice and a diversified investment strategy for a client's total portfolio are not typically provided.
Our core portfolios consist of stocks of individual companies and fixed income securities issued by corporations and government entities. We believe that we can achieve adequate diversification, provide opportunity to reap rewards based on our proprietary screening methodology and manage tax considerations more effectively with a portfolio of individual securities. In addition, we will supplement the core portfolio with mutual funds and separate accounts in specialty areas such as international stocks.
By building custom portfolios of individual securities, we can tailor our client's investments to their individual financial situation. In addition, individual securities allow for more efficient control of tax liability resulting from sales of securities within a portfolio.
We assist clients in preparing an investment policy statement and defining a target asset allocation. This process includes interviewing clients about their financial goals and objectives as well as any constraints. We also collect relevant documentation that helps us get to know their financial life. Integration of a client's personal goals with their financial details is very important and helps us to understand and define some strategic issues that are part of investment decision-making.
Once an investment policy statement is determined, our portfolio managers will select investments to satisfy the portfolio characteristics outlined by the client. The portfolio managers will have discretion in implementing the investment policy statement.
We are a fee-only advisor and therefore, we do not accept any commissions. We only accept fees from our clients. We generally invoice clients monthly in arrears for financial planning and investment advisory services. Evanston Advisors practices fee transparency by clearly identifying what fees a client pays to us on our monthly invoices.
The CFP®, CPA, and CFA designations are some of the more common professional credentials in our industry, with advanced degrees such as master's degree in finance and master's degree in accounting or tax being important as well. Of paramount importance though is experience in the industry and having a good intuitive understanding of how people and finances are intertwined.
The CFP® or CERTIFIED FINANCIAL PLANNERTM certification marks are owned by the Certified Financial Planner Board of Standards, Inc. These marks are awarded to individuals who successfully complete the CFP Board's initial and ongoing certification requirements: Passing a comprehensive exam, 3-5 years of financial planning experience, adherence to a code of ethics and continuing education. This credential is a widely recognized certification for wealth management advisors.
The CPA or Certified Public Accountant is a designation earned by accountants who have passed a qualifying examination and meet certain educational and public accounting experience requirements established by a state regulatory authority. A CPA who is well versed in income tax law and preparation is very important to wealth management.
The CFA or Charted Financial Analyst designation is owned by the CFA Institute and awarded to those who have completed the CFA program. The CFA Program is a graduate-level, self-study curriculum and examination program for investment specialists - especially securities analysts, money managers, and investment advisors. Established in 1962, the CFA Program sets the global standard for investment knowledge, standards, and ethics. Clients, employers, and colleagues know that a charterholder has mastered a rigorous curriculum covering a broad range of investment topics and is committed to the highest ethical standards in the profession.
As your family wealth increases, so does the complexity of your family's financial world. In addition to Portfolio Advice, Estate Planning, Tax and Financial Planning your family may require additional customized services to help you enjoy your wealth without worrying about the challenges of administering your finances. While each family is different, some of the typical family office services we offer include:
Map and Directions
1827 Walden Office Square
Suite 104
Schaumburg, IL 60173
1-847-397-3000
Directions to Our Office:
From Chicago:
Take 90W/94W until 94W splits from 90 at Cicero Ave. Continue west on 90, rather than 94, and exit on IL-53 north toward Rolling Meadows. You will immediately exit onto Algonquin Rd/IL-62 (the on-ramp onto IL-53 N becomes the exit ramp for Algonquin Rd/IL-62). Turn right onto Algonquin Rd/IL-62 going west. You will pass under the IL-53 bridge and turn left at the second stop light. This street is unmarked, but there is a Finn McCools Irish Restaurant and a Moretti's Restaurant at that intersection. These restaurants are actually in the same parking lot as our office building. You will see three similar 5-story concrete office buildings on the other side of these restaurants; our building is 1827 and is the middle building.
From South or West Suburbs:
Take IL-53 north toward Rolling Meadows. Stay in the local lanes when IL-53 splits. Just past I-90, exit onto Algonquin Rd/IL-62. Turn right onto Algonquin Rd/IL-62 going west. You will pass under the IL-53 bridge and turn left at the second stop light. This street is unmarked, but there is a Finn McCools Irish Restaurant and a Moretti's Restaurant at that intersection. These restaurants are actually in the same parking lot as our office building. You will see three similar 5-story concrete office buildings on the other side of these restaurants; our building is 1827and is the middle building.
Keith Cantrell is Evanston Advisors' founding partner. Keith graduated from Duke University in 1976 and began his career as a CPA at Price Waterhouse & Company. He soon was promoted to the position of Audit Manager, with responsibility for managing the audit engagements for several Fortune 500 Companies. In 1982, Keith founded Evanston Advisors as a firm focused on providing professional advisory services to individuals and the owners of closely held businesses who needed solutions to complex business and financial questions. Keith's passion is helping such business owners define their goals and organize their businesses to ensure the achievement of their goals. Strategic business planning tools that Keith has successfully utilized include: unique exit and liquidity approaches; identification, negotiation and structure of key strategic alliances; intergenerational transfer planning and plan execution; cost reduction and elimination strategies; vertical integration planning; and product/service offering expansion strategies. Keith most frequently serves as coordinator of strategic projects, technical advisor and negotiator for these complex planning engagements. He is a Certified Public Accountant and a Certified Financial PlannerTM professional.
David Jackson is Evanston Advisors' Chief Operating Officer. David has responsibilities for strategic planning, operations and relationship management. David is an experienced entrepreneur and business development professional. Prior to joining Evanston Advisors in 2001 David owned FirstChoice HealthCare, a middle-market home health care company with offices throughout Northern Illinois and in St. Louis. David's business plan for rapid growth offering unique and innovative services at FirstChoice led to an operating philosophy where the best, the brightest and the most creative were attracted, rewarded and, most importantly unleashed. After attaining significant competitive advantages David embarked on a plan to sell his company. The business was divided into two business units and marketed to specific strategic buyers. The first divestiture occurred in 1996 to a privately held firm; the second divestiture took place in 1998 to a public company looking to acquire market share and service integration. Since that time David has been an active business investor and professional business advisor sharing his knowledge and experience with other successful business owners. He also has been involved with many non-profit and charitable efforts, as a way to give back to the community.
Nathan Snodgrass is the firm's Chief Investment Officer and Chief Compliance Officer. Since joining Evanston in 1993, Nathan has worked with clients to ensure that the wealth they have created and harvested is used to fulfill their unique objectives. His expertise in counseling high-net-worth families allows him to introduce strategies that encompass all aspects of a family's planning, using various techniques in concert with each other to accomplish the family's specific goals. Although Nathan has expertise in many aspects of wealth management, he is especially passionate about working with clients' investments. He is the Chairman of the firm's Investment Committee, which has primary responsibility for client portfolio strategy, asset allocation, investment research and security selection. In addition, he performs due diligence on alternative investments in a number of categories, including structured notes, hedge funds, PIPE funds and private equity funds. Nathan is a CFA charter holder, a Certified Financial PlannerTM professional and a Registered Investment Advisor Representative. He is a member of the CFA Institute and the CFA Society of Chicago.
Matt Terrien joined Evanston Advisors in the spring of 2011 as Senior Portfolio Manager. He is instrumental in all aspects of the investment portfolio management process, including strategic asset allocation, portfolio construction, security selection, risk management and trading. Matt's career has focused primarily on quantitative investment research in a broad range of forums. Prior to joining Evanston, Matt spent the last six years working as an analyst/portfolio manager in various hedge fund entities in the Philadelphia region. Before moving to Philadelphia Matt worked here in the Chicago region for various investment research and consulting firms, including Chicago Investment Analytics, a division of Schwab Capital Markets, and Ibbotson Associates, a highly-regarded investment think tank. Matt has also held positions with First Union Securities, Prudential Securities and William Blair. Matt began his career with a 5-year stint working for Price Waterhouse in the firm's management consulting practice. Mr. Terrien graduated from The University of Michigan, with a B.A. in Economics, in 1990. He is a CFA charterholder and a member of the CFA Institute and the CFA Society of Chicago.
David Edwards joined Evanston Advisors in 2011 as the Director of Operations and Financial Planning. He holds a BBA from Campbell University where he majored in trusts and investment wealth management and minored in financial planning. David is currently a graduate taxation student at Northern Illinois University. Prior to joining Evanston, David worked as a trust administrative officer; performing personal trust administration and financial planning for US Trust, Bank of America Private Wealth Management and the Amalgamated Bank of Chicago. David is also building a career with the United States Military, serving during Operation Enduring Freedom as a jet engine mechanic with the Navy and currently with the Illinois Air National Guard as a database manager and computer analyst.
Deb Webber joined Evanston Advisors in 2009 as Managing Director focusing on client relationship management and business development. Deb is uniquely gifted to assist clients in the development and implementation of their personal wealth plans. Deb has an extensive background in financial services. Most recently she served as a Financial Advisor at UBS where she developed financial plans for clients and tailored investment and risk management solutions to help clients implement their plans. Previously, Deb was a financial consultant to private businesses and non-profit organizations. She spent her early career in New York at Chase Manhattan Bank (now JP Morgan Chase). Deb earned a BA in Archaeology at Wheaton College and an MBA from Harvard Business School with an emphasis in finance. Deb is a Registered Investment Advisor Representative and a candidate in the Certified Financial Planning program.
Kathy Hoffman is responsible for coordinating and assisting clients with account administration. Kathy Hoffman has been a member of the Evanston Advisors team since early 2006, and she brings to Evanston more than 25 years experience in the areas of financial and business analysis, process improvement and customer service. The vast majority of her experience was attained within the large corporate environment of AT&T. Kathy is a Registered Investment Advisor Representative.
Carlie Dobbeck is primarily responsible for working with family office clients on educational, wealth management and estate planning issues within the families and their closely held businesses. Carlie Dobbeck joined Evanston Advisors in June 2008. Prior to joining Evanston, Carlie worked for Hyperion Solutions, consulting on the Hyperion Strategic Finance product. This consulting work focused on helping large corporations and financial institutions perform complex strategic financial modeling using driver based financial software. She has a bachelor's degree in finance from the University of Wisconsin in Madison.
Cathy Caceres is our Family Office Manager and is responsible for accounting and administration for family office and private foundation clients. She also provides general administrative support for the firm. Cathy joined Evanston Advisors in 2006. She has a BA from Quincy College in Quincy, Ill., and her work experience includes seven years in computer programming at Allstate.
Evanston ADV Brochure 2011.pdf
Evanston Investment News Honor.pdf
Kathy Houde joined Evanston Advisors in 2011 as Managing Director.
For website support, contact the webmaster David Edwards at dedwards_evanstonadvisors.com
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