Journey Financial Group, Inc. (Buffalo Grove)

Name: Journey Financial Group, Inc.
Address: 1110 W. Lake Cook Road, Buffalo Grove, IL, 60089
Telephone: 847-229-9191

Journey Financial Group, Inc. is a large advisory firm based in Buffalo Grove. It manages $130 million of regulatory assets for 300 client accounts. It has been registered with the SEC as an adviser since 2014 and has operated in the jurisdiction of Illinois.

Journey Financial Group provides financial planning services, portfolio management for individuals and small businesses, and selection of other advisers. It prepares financial plans for more than 50 clients. On top of advisory services, the firm doesn't engage in other business activities.

Journey Financial Group: assets under management

The assets under management (AUM) of Journey Financial Group, Inc. is $130 million. The firm's AUM has grown by 19% since the beginning of its operation, and the company doesn't manage any assets belonging to foreign clients.

The firm manages $129 million in discretionary accounts and $1 million in non-discretionary accounts. On average, the discretionary accounts where all decisions are made on behalf of the client hold $437.29 thousand each. Non-discretionary accounts, where clients actively manage their portfolios, generally hold around $200 thousand.

Investments

The firm invests in exchange traded securities the most. They account for 65% of the total AUM. The second-largest asset type is investment grade corporate bonds, which make up 30% of the firm’s portfolio. Investments in cash and cash equivalents form 5% of the total invested assets.

Fees & Commissions

The advisory firm has several streams of revenue. Clients pay Journey Financial Group, Inc. for their services and products based on a percentage of assets under management, hourly charges, and fixed fees. Compensation based on assets under management promotes a long-term relationship between a client and the adviser and helps align mutual interests. These fees don’t include brokerage commissions, interest, taxes, and other account expenses.

What kind of clients Journey Financial Group serves?

The firm provides services to individuals and high net worth individuals. The largest group of clients of Journey Financial Group is high net worth individuals with 57 clients and $65 million of assets under management. Among the 6 most similar advisory firms, Journey Financial Group has the 3rd highest percentage of high net worth individuals out of all clients.

The amount of regulatory assets under management is $127 million for 177 clients that can include trusts, estates, and 401(k) plans and IRAs of individuals and their family members. None of the firm’s clients are foreign persons or businesses.

Journey Financial Group doesn't advise any private funds.

Careers at Journey Financial Group, Inc.

The company employs 6 people that are either part- or full-time employees. 100 percent of the employees work as investment advisers or researchers. 3 employees are registered as investment adviser representatives with the state securities authorities.

There isn’t anyone with the role of looking for and bringing in new clients on behalf of the firm. The firm doesn’t compensate employees in addition to the salary for bringing in new clients. Employees don’t receive compensation from other entities for client referrals.

Direct owners and executive officers

Name	Entity	Date acquired	Ownership	Employer ID
Mclain Tallungan	President, chief compliance officer	1 Feb 1997	75% - 100%	1062311

Based in Buffalo Grove

The principal office where Journey Financial Group, Inc. performs its advisory services is located at 1110 W. Lake Cook Road, Buffalo Grove, IL 60089, which is also the mailing address of the firm. It doesn’t run an office outside of the United States.

You can reach the main office by calling the phone number 847-229-9191 or by fax 847-229-9192. The normal business hours are 9am - 5pm on Monday - Friday. You can find more information about the New York firm at jfgplan.com/.