Bankers Life Advisory Services, Inc. (Chicago)


Bankers Life Advisory Services, Inc. is a large advisory firm based in Chicago. It manages $324.01 million of regulatory assets for 2,565 client accounts. It has been registered with the SEC as an adviser since 2015 and has operated in the jurisdictions of Alabama, Arizona, Arkansas, and 48 other states.

Bankers Life Advisory Services provides portfolio management for individuals and small businesses and selection of other advisers. It doesn't provide financial planning services to its clients. On top of advisory services, the firm doesn't engage in other business activities.

Bankers Life Advisory Services: assets under management

The assets under management (AUM) of Bankers Life Advisory Services, Inc. is $324.01 million, all of which is managed in discretionary accounts. The firm's AUM has grown by 631% since the beginning of its operation, and the company doesn't manage any assets belonging to foreign clients.

The firm manages $324.01 million in discretionary accounts. On average, the discretionary accounts where all decisions are made on behalf of the client hold $126.32 thousand each.

Investments

The firm invests in exchange traded securities the most. They account for 86% of the total AUM. The second-largest asset type is cash and cash equivalents, which make up 7% of the firm’s portfolio. Investments in non-exchange traded securities form 6% of the total invested assets.

Fees & Commissions

The advisory firm has a single stream of revenue. Clients pay Bankers Life Advisory Services, Inc. for their services and products based on a percentage of assets under management. 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 Scott Louis Goldberg serves?

The only and largest group of clients of Scott Louis Goldberg is individuals with 2,565 clients and $324.01 million of assets under management. Among the 13 most similar advisory firms, Bankers Life Advisory Services has the highest percentage of individuals out of all clients.

The amount of regulatory assets under management is $324.01 million for 2,565 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.

Bankers Life Advisory Services doesn't advise any private funds.

Careers at Bankers Life Advisory Services, Inc.

The company employs 203 people that are either part- or full-time employees. 100 percent of the employees work as investment advisers or researchers. 203 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.

Scott Louis Goldberg has been acting as President since 1 Aug 2014. Paul H Mcdonough joined the executive team most recently as the Board Member.

Direct owners and executive officers


Name Entity Date acquired Ownership Employer ID
Inc. Cdoc Parent company 1 Aug 2014 75% - 100% 51-0406066
Scott Louis Goldberg Director 1 Aug 2014 Other 5296395
Scott Richard Perry Director 1 Aug 2014 Other 4656648
William Dudley Webb President/ceo/cfo/director 1 Sep 2014 Other 1256777
Alberta Stephens Roberts Chief compliance officer/secretary 1 Oct 2014 Other 2681068
Erik Magnus Helding Director 1 Dec 2015 Other 2512925
Steven M Josephson Director 1 Dec 2017 Other 2239540
Cheryl Lynn Heilman President 1 Feb 2019 Other 2114445
Paul H Mcdonough Board member 1 Apr 2019 Other 7089411

Indirect Owners

The SEC currently registers 1 indirect owner.

Name Entity Date acquired Ownership Employer ID
Inc. Cno Financial Group Holding company 1 Mar 2003 75% - 100% 75-3108137

Based in Chicago

The principal office where Bankers Life Advisory Services, Inc. performs its advisory services is located at 111 E. Wacker Drive, Chicago, IL 60601, which is also the mailing address of the firm. An additional office of the firm is in Atlanta, GA. It doesn’t run an office outside of the United States.

You can reach the main office by calling the phone number 844-553-9083 or by fax (312) 396-7030. The normal business hours are 8:00 am - 5:00 pm - (cst) on Monday - Friday.