Stenger Wealth Management
Fiduciary financial advisor | Naperville Financial Advisor | Financial planner in Naperville, IL
Fiduciary Advice You Can Rely On
The business of financial advice has changed considerably the past 40 years. Many financial advisors started out selling products for commissions and evolved into money managers that charge a fee. While a great deal of financial advisors have made the switch, many in Wall Street’s largest firms have not.
Hiring a financial advisor can be one of the toughest decisions you will ever make because it is one of the most important relationships you will develop over time. Hiring a fiduciary based financial advisor and a team of experts can set your family on a long journey of success and help you pass down your money and values throughout generations.
That’s why at Stenger Wealth Management, we establish a consultative based relationship with you and your family, not based on product sales that earn us commissions. Our fees are structured so that we do better as you do better.
Your Stenger financial advisory relationship begins with our comprehensive financial planning process that will show your probability of running out of money during retirement. After we create this in-depth plan, we customize an investment portfolio that matches your goals and risk tolerance. Stenger Wealth Management clients also have access to our in-house team of accountants and attorneys that can prepare your tax return and create your estate plan.
We believe every family deserves to work with a financial advisor who follows the fiduciary standard, putting your needs above their own. This is the future of wealth management and we invite you to join this standard of care we follow.
Wealth Management Expertise
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Retirement Planning
As a fiduciary financial advisor in Naperville, IL, Stenger Family Office can help you and your family prepare for and navigate retirement. Since 1981, the Stenger family has helped over 1,200 families navigate this significant life change through our proprietary Retirement Navigation Process.
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ExxonMobil Employees
For over 40 years, the Stenger family has provided customized fiduciary financial advice to ExxonMobil employees and their families in Houston, Baytown, Beaumont, Billings, Clinton, Joliet and Midland. Our proprietary ExxonMobil Retirement Process has helped over 300 XOM families navigate retirement.
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Tax Planning & Preparation
No financial plan is complete without a coordinated, comprehensive tax plan. Through Stenger Tax Advisory, a Naperville tax preparer and licensed CPA firm, we can plan and prepare your annual tax return in concert with your investment and financial plans.
Local Presence, National Recognition.
2023 Forbes Best-In-State Wealth Management Team
Source: Forbes.com (January 2023) 2023 Forbes Best-In-State Wealth Management Teams ranking awarded in 2023. This ranking was determined based on an evaluation process conducted by SHOOK Research LLC (the research company) in partnership with Forbes (the publisher) during the period from 3/31/21 – 3/31/22. Neither Stenger Family Office LLC nor its Financial Advisors paid a fee to SHOOK Research LLC to obtain or use the ranking. This ranking is based on in-person and telephone due diligence meetings to evaluate each advisor qualitatively, a major component of a ranking algorithm that includes client retention, industry experience, review of compliance records, firm nominations, and quantitative criteria, including assets under management and revenue generated for their firms. Investment performance is not a criterion. Rankings are based on the opinions of SHOOK Research LLC and this ranking may not be representative of any one client’s experience. This ranking is not indicative of the Financial Advisor’s future performance. Stenger Family Office LLC is not affiliated with SHOOK Research LLC or Forbes. For more information, see www.SHOOKresearch.com(opens in a new tab).
Managing Your Investment Risk
For 42 years, the Stenger Group has helped clients prepare for and manage retirement. During retirement, return is important. But more importantly, so is risk management. Our team has managed through the savings & loan crisis, the tech bubble, the financial crisis, and COVID-19. During each period of market chaos, one theme emerges - return alone isn’t the most important factor. Rather, the most important factor for retirees is return for the amount of risk taken on. Our proprietary Retirement Navigation Process will identify hidden risk in your portfolio and how you can adjust now to avoid excessive losses during retirement.
The Stenger Financial Planning Process
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The Stenger Financial Planning Process starts with one simple question:
“If we were meeting three years from today, what would have had to happen both personally and professionally to feel like you had made meaningful progress over that time?”
From this question, your Stenger financial advisor will help you determine your Dangers, Opportunities, and Strengths.
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Your Stenger financial advisor will create a financial plan that follows a bucket strategy, breaking out your goals from short term to long term. As your financial advisor, we will generally advise you to start with your long term goals first, then work backwards.
“Begin with the end in mind.” - Stephen Covey
Bucket #1 - Long term goals
Retirement
Healthcare
Long term care
Legacy & estate planning
Bucket #2 - Short term goals
Emergency reserves
Small purchases
Bucket #3 - Mid term goals
House purchase & repairs
New vehicles
Weddings
Education planning
The Bucket Strategy
Financial Advisor Near Me
Lump Sum or Annuity?
As part of the Stenger Planning Process, your financial advisor will help you decide between a lump sum or monthly annuity if you have a pension. There are pros and cons of each option:
Lump Sum Option
Can be passed between multiple generations
No guarantee of monthly income
More control of your financial future
Need to self manage or hire a financial advisor
Potentially better long term growth than monthly annuity
Monthly Annuity Option
Cannot be passed between multiple generations
Guaranteed monthly income
Less control of your financial future
Managed by your former employer
Potentially less long term growth than lump sum option
Not sure which option is right for you? Schedule an intro call with a Stenger financial advisor to find out today!
401(k) Financial Advice
While working, your financial advisor should be taking a comprehensive view of your entire financial picture, also giving you financial advice on your 401(k), 403(b), 457 or other workplace retirement plan.
Your Stenger financial advisor will have you link up your 401(k) through our fully integrated technology platform that will give us view only access to your plan. We can then give you advice on how to re-allocate your investments to better align with your goals.
We do not charge for this service, it is included with our package of services.
Some common issues we see with 401(k) plans are:
Too much money in target date funds
Your financial advisor should be helping you rebalance your 401(k) throughout the year rather than relying on cookie cutter target date funds that usually invest heavily in international stocks and bonds. Target date funds also buy more and more bonds as you get older, not necessarily the best investment strategy considering the average retirement can last 30 years or more.
Overdiversification in international stocks
While international stocks may play a role in some investors’ portfolios, we find that they are far too volatile and unpredictable for most of our clients. Your Stenger financial advisor can help you rebalance away from international stocks toward United States based companies.
Hidden fees
While 401(k) plan fees are usually inexpensive, we see many investors roll over their plans to IRA accounts that charge two layers of fees. One fee is charged for financial advice, another fee is charged for mutual funds and ETFs. Through our custom Stenger stock portfolios, we do not use investments that charge hidden or underlying fees.
Have you looked at your 401(k) in awhile? Schedule a call for a complimentary 401(k) review today!
The Stenger Advantage
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Integrated Tax & Legal
Once your financial plan is complete, we will either work with your preferred tax and estate planning professional, or introduce you to our in-house attorney and/or CPA. Your Stenger advisor will work seamlessly with the rest of your team, to ensure your entire financial picture is complete.
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Next-Gen Support
Over time, our team has developed relationships with the 2nd, 3rd and even 4th generations of your family. As a Stenger Family Office client, Financial Planners are available to guide your children, grand-children, and great-grandchildren on their own financial plans. The minimum account size for a family relationship is only $1,000 and allows the next generation to engage during your lifetime.
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Access to Stenger+
Stenger+ is a subscription based media platform available to all Stenger Wealth Management clients for no additional fee. The platform hosts podcasts, videos, webinars, articles, newsletters and more to educate you on the financial markets and economy.
Account Types
Stenger Wealth Management offers the following account types. Your Stenger financial advisor can help you decide which account(s) are best for your plan.
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Individual
Joint
Trust
Business accounts
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Traditional IRA
Roth IRA
Inherited IRA
401(k) rollover
Simple IRA
SEP-IRA
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529 account
Coverdell education account
Custodial (UTMA)
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Donor advised fund
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High Yield Checking Account
High Yield Savings Account
Cash Management
Mortgage
Refinance
Securities Based Lending
Certificate of Deposit (CD)
Credit/debit cards
The only investment related fee we charge is a monthly advisory fee based on the assets we manage on your behalf. We also receive compensation if you purchase an insurance product. Fees start at 1.25% and decrease based on the size of assets we manage on your behalf. Most Stenger clients with $500,000 or more in assets pay less than 1% all in. If you have $2 million or more, you qualify for Stenger Family Office which includes an annual engagement bonus for tax planning and preparation and estate planning services.
Transparent fee structure.
As you begin your financial planning journey, many questions will arise that your financial advisor can help answer. Stenger Wealth Management has advised over 1,000 clients the past 40 years and has compiled some of the most important financial plan items to discuss with your financial advisor.
When should I retire?
Do I have enough money to retire?
When should I take Social Security?
Should I pay off my mortgage prior to retirement?
How should I invest during retirement?
Is my current portfolio too risky?
Should I hire a financial advisor?
Should I take my pension as a lump sum or annuity?
Do I need a will? Do I need a trust?
How can I save money on taxes in retirement?
Your Stenger financial advisor will create a comprehensive financial plan that will help answer all of these questions. Throughout the year, your Stenger financial advisor will review these goals with you and make changes to your financial plan as necessary.
Helping You Answer the Most Important Questions
Are you ready for retirement? Take our Retirement Readiness Quiz and find out today!
Proactive, Unparalleled Service
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Unlimited Advisor Access
When you become a Stenger Wealth Management client, you will work with a dedicated Financial Advisor along with a dedicated Client Service Associate. Your financial advisor has a limited number of clients to better serve you and your family. Your advisor will oversee your financial plan while working with the Stenger Investment Committee to manage your portfolio. They will also coordinate with your personal accountant and attorney, or help introduce you to our in-house tax and legal service.
Your dedicated Client Service Associate is available via phone, email and text Monday-Friday from 8am-5pm CT. They are able to assist you with money transfers, account updates, appointment scheduling and a variety of other tasks.
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Annual Review Meeting
Every year, you will meet with your financial advisor for an in-depth financial planning and investment strategy session. This meeting usually lasts for 90 minutes or more and covers all aspects of your financial life including finances, investments, taxes, estate planning, insurance, income, expenses, assets and liabilities.
Your Stenger financial advisor will make it a point to meet in person if possible at least once per year.
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Mid Year Check-In
Six months after your Annual Review Meeting, your dedicated financial advisor will schedule a check in call to review the goals and updates from your last meeting. This check in call or virtual meeting typically lasts 30 minutes and includes a review of the stock market and current economic conditions.
Depending on your personal comfort level and preference, the mid year check in schedule can be increased as needed and amended to align with your expectations.