Bankers Life Advisory Services, Inc

CRD#281285
Investment Advisor Firm

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Learn more about Bankers Life Advisory Services, Inc

  • Overview
  • By the Numbers
  • Products and Services
  • Fee Structure
  • Types of Clients
  • Disclosures
  • State Registrations
  • Office Locations
  • Firm Advisors

    • Overview

    Bankers Life Advisory Services, Inc is a financial advisory company located in Chicago, Illinois. Bankers Life Advisory Services, Inc handles $1.1 billion in assets under management throughout 10,292 customer accounts, placing it among the bigger investment advisory firms in the country by assets under management (AUM). Bankers Life Advisory Services, Inc has a large team, including 363 financial advisors. Bankers Life Advisory Services, Inc does not act as a registered broker-dealer, signifying that the advisor cannot buy and sell securities for its accounts and those of its clients and instead must go through a broker-dealer firm to do so. Securities are exchangable fiscal investments like options, stocks and bonds.

    Bankers Life Advisory Services, Inc administers most of its client assets on a discretionary basis. Discretionary management signifies that buy and sell decisions for the client's account are made by a portfolio manager without requiring client permission. The firm also manages 26 non-discretionary accounts totaling $14.2 million in AUM. The company oversees roughly $109,320 for each account. The typical financial advisor at Bankers Life Advisory Services, Inc administers around 28 client accounts, placing it towards the middle in terms of personalization.

    The firm's headquarters is located at 111 E. Wacker Drive, Chicago, Illinois 60601. The company is legally allowed to serve investors throughout 50 U.S. states and territories.

    Assets Under Management

    $1.1 billion

    Number of Advisors

    363

    Disclosures

    No

    Office Location

    111 E. Wacker Drive
    Chicago, IL 60601

    Bankers Life Advisory Services, Inc by the Numbers

    Total Assets Under Management

    $1.1 billion

    National Average: $8.6 billion
    Total Number of Employees

    363

    National Average: 64
    Total Number of Accounts

    10,292

    National Average: 375,227
    Average Account Size

    $109.3 thousand

    National Average: $23.0 thousand
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    Products and Services

    Bankers Life Advisory Services, Inc offers multiple financial services, including financial planning services, portfolio management for individuals and small businesses, selection of other advisers and educational seminars. However, it did not provide financial planning services to any of its accounts in the prior financial year. It does not sell products or offer services aside from investment advice to its investment advisory customers. It is affiliated with a number of other companies in the financial services industry, including with a broker-dealer or securities dealer, insurance company or agency and real estate broker or dealer.

    Core Advisor Services

    • Offered by 31% of firms

      Financial Planning Services

      This is the process of planning for your financial future, including for events such as retirement, your child's college education or estate succession.

    • Offered by 46% of firms

      Portfolio Management

      This is the selection and management of an investment mix and portfolio strategy for individuals and small businesses.

    • Find a firm that offers this service

      Market Timing Services

      This is the practice of attempting to make short-term profits on investments by buying low and selling high.

    Other Services

    • Offered by 20% of firms

      Selection of Other Advisors

      This is the firm's assistance with choosing other advisors to work with who may have different specialties.

    • Find a firm that offers this service

      Publication of Periodicals

      This is the publication of various financial education materials.

    • Offered by 6% of firms

      Educational Seminars/Workshops

      This is the hosting of seminars or workshops to educate investors on financial concepts.

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    Fee Structure

    Fees for financial advisory services usually depend on the services offered. However, fee types billed by the firm most likely are comprised of some combination of the following fee types: asset-based or other. The company participates in a wrap fee program, in which the company offers a bundle of services for a single fee.

    Available

    • Offered by 69% of firms

      Percentage of Assets

      Show Explanation

      This fee, which is the most common fee type charged by advisors for portfolio management, is based on the amount of assets you have under management. Also referred to as an asset-based fee, this fee typically ranges from 0.50%-2.00% of AUM annually. You'll typically pay a lower rate the more assets you have under management.

    • Offered by 10% of firms

      Other

      Show Explanation

      Firms can sometimes charge customers using non-traditional fee structures. See this firm's Form ADV for more details.

    Unavailable

    • Find one of the 21% of firms that offer this fee type

      Hourly

      Show Explanation

      Like a lawyer, a financial advisor may charge you by the hour. This can be helpful if you are only looking for short-term or one-time advice. Rates typically range from $100-$300 per hour, depending on the complexity and level of services needed.

    • Find one of the 1% of firms that offer this fee type

      Commissions

      Show Explanation

      Occasionally, advisors earn commissions from selling financial products, such as securities or insurance policies, or making certain referrals or transactions. Advisors who earn commissions may be incentivized to make certain recommendations to clients in order to make a commission. Fee-only advisors do not earn commissions, while fee-based advisors may.

    • Find one of the 26% of firms that offer this fee type

      Performance-based

      Show Explanation

      Advisors only earn performance-based fees if a portfolio outperforms a defined benchmark. This fee may be calculated in a number of ways but most commonly is charged as a percentage of investment profits. Performance-based fees may incentivize advisors to make riskier decisions in order to generate higher returns.

    • Find one of the 0% of firms that offer this fee type

      Subscription

      Show Explanation

      Firms generally charge this fee for educational materials provided, such as a monthly magazine. This can be useful if you want to learn about investing or financial management on your own.

    • Find one of the 32% of firms that offer this fee type

      Fixed

      Show Explanation

      Fixed fees are a one-time, lump sum charged for a specific service, like the creation of a financial plan without subsequent implementation. This can be useful if you only need advice for one specific purpose, rather than a long-term advisor. Fixed fees usually range from $1,000 to $3,000.

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    Types of Clients

    It caters to retail investors, high net worth investors and pension plans. Out of its 10,292 customers, Bankers Life Advisory Services, Inc's biggest client group is retail investors, though it also caters to one high-net-worth individuals. The SEC defines a high-net-worth individual as an individual who has at least $750,000 under management or a net worth of more than $1.50 million or who counts as a "qualified purchaser" (a standard met by having at least $5 million in investments). None of its clients are from outside of the U.S.

    • High-Net-Worth Individuals* - 0.01%
    • Other Individuals - 99.74%
    • Corporations - 0.25%
    • Charitable Organizations - 0%

    * The U.S. Securities and Exchange Commission (SEC) defines a high-net-worth individual as someone who has at least $750,000 under management.

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    Disclosures

    Bankers Life Advisory Services, Inc does not have any disclosures.

    Please visit its Form ADV for more details.

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    Financial Advisors at Bankers Life Advisory Services, Inc

    Dominic Ruggerio
    Chicago, IL
    David Hensley
    Chicago, IL
    Albert Preniqi
    Chicago, IL
    Jeffrey Collyer
    Englewood, CO
    Jonathan James
    Chicago, IL
    Joshua Sievers
    Fort Wayne, IN
    Elizabeth Bort
    Chicago, IL
    Chad Visser
    Chicago, IL
    Lorraine Frownfelter
    Erie, PA

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