Romano

What Romano does

Romano Wealth Management, operating legally as Romano Brothers & Co., is a privately held, family-led wealth management and investment advisory firm founded in 1962 and headquartered in Evanston, Illinois. The firm provides integrated financial services across four pillars: retirement planning, fixed income products and services, trust and estate planning, and cash management. It is registered with the SEC, FINRA, the State of Illinois, and many other states as both a Broker-Dealer and Investment Advisor, and is a member of SIPC. Operating with a small team of 11–50 employees, Romano emphasizes a concierge-like, relationship-based service model backed by what it describes as six decades of experience, trust, and integrity.

The firm's product surface is delivered through direct client relationships rather than a digital platform; brokerage and custody operations are routed to Wells Fargo Clearing Services LLC via a dedicated client login. Marketing and client engagement are driven primarily through a long-running quarterly and seasonal newsletter program covering investment outlooks, fixed income commentary, and firm updates, complemented by milestone events such as the 2012 50th anniversary (drawing clients from 14 states and the United Kingdom) and the 2022 60th anniversary campaign. Technology stack details, APIs, integrations, and AI/ML capabilities are not disclosed.

Romano's revenue mechanics follow standard wealth management conventions: pricing is not publicly disclosed, and the firm is inferred to operate on a mix of advisory fees on managed assets and commissions on brokerage transactions. Its customer base consists of affluent individuals and families, with horizontal segmentation across use cases (retirement security, estate transfer, fixed income income generation, cash positioning) rather than industry verticals. No external private equity, venture capital, or institutional investor is referenced in the source data; the Romano family is implied to retain significant ownership and operational control, with Richard Romano as Chairman and Shafrir Romano as CEO.

Name

Romano

Legal name

Romano Brothers & Co.

Website

https://romanowealth.com

Company type

Private

Founded year

1962

Operating status

Operating

Headcount range

11–50 employees

Short description

Romano Wealth Management (Romano Brothers & Co.) is a privately held, family-led wealth management firm founded in 1962 in Evanston, Illinois, serving affluent individuals and families with retirement planning, fixed income, trust and estate, and cash management advisory services, with brokerage and custody routed through Wells Fargo Clearing Services.

Ownership category

akta.pro rank

Product category

Wealth Management

NAICS

Portfolio Management and Investment Advice (52394), Trust, Fiduciary, and Custody Activities (523991)

SIC

Investment Advice (6282), Security Brokers, Dealers & Flotation Companies (6211)

akta.pro primary industry

Registered Investment Advisor (RIA) Wealth Management (FSAEABAA)

akta.pro secondary industries

Broker-Dealer Affiliated Wealth Advisory (FSAEABAB), Corporate & Institutional Trust Services (FSAAANAB)

Keywords

• Wealth management services
• Retirement planning
• Fixed income investing
• Trust and estate planning
• Cash management advisory

Headquarters

HQ city

Evanston

HQ country

United States

HQ region

North America

Markets served

GTM type

B2C

Offering type

Services

Cost components

Personnel, Operations, Marketing or Sales, Infrastructure, Others

Distribution channels1 record

Marketing channels1 record

Core offering

Romano Wealth Management provides personalized financial advisory and brokerage services through its registered Broker-Dealer and Investment Advisor entity, Romano Brothers & Co. Its core offerings span retirement planning, fixed income investment services, trust and estate planning, and cash management, delivered as an integrated advisory practice. Client accounts are accessed through a portal linked to Wells Fargo Clearing Services LLC.

Product overview

Romano Wealth Management is a traditional wealth management firm offering financial investment and advisory services. The company provides a unified suite of wealth management services including retirement planning, fixed income investments, trust and estate planning, and cash management. Rather than a platform-plus-modules architecture, the firm operates as a holistic advisory service where these offerings are integrated components of their overall wealth management philosophy, with client login access provided through Wells Fargo Clearing Services LLC.

Differentiator

Problem solved

Functional benefit

Products and services

• Retirement Services Retirement planning and management services delivered to individual clients to help them prepare for and manage their retirement years.
• Fixed Income Products and Services Investment services focused on fixed income products, including bonds and other income-generating securities, for individual clients seeking income-oriented portfolios.
• Trust and Estate Planning Services Advisory services that assist clients in establishing and managing trusts and planning the transfer of assets to future generations.
• Cash Management Services Advisory services helping clients manage their liquid assets and cash positions effectively.

Segments1 record

Ideal customer profiles1 record

Technology focussed No

API detail

Has API

No

API docs

API detail

Core technology

AI maturity

App detail

Scale indicators1 record

Recent moves5 records

Expansion highlights4 records

Direct peers

• William Blair: Chicago-headquartered independent investment and wealth management firm. Highly comparable to Romano as a privately-held, advisor-led wealth management firm serving affluent households and institutions with a relationship-based, concierge-style approach.
• First Trust Advisors: Wheaton, Illinois-based independent investment advisor and broker-dealer offering wealth management, retirement, and fixed income products. Directly comparable to Romano as a Midwest-based private firm providing RIA and broker-dealer services with a fixed income and retirement emphasis.
• Mesirow Financial: Chicago-based independent wealth management, investment banking, and advisory firm. Directly comparable to Romano as a mid-sized Chicago-area private wealth manager offering trust, estate, retirement, and investment services to affluent individuals and families.
• Robert W. Baird & Co. Privately-held, employee-owned financial services firm with a large Private Wealth Management group serving affluent individuals and families. Comparable to Romano as an advisor-led, relationship-based wealth manager with comprehensive retirement, fixed income, and estate planning offerings.
• Hightower Advisors: Chicago-headquartered RIA platform supporting breakaway advisors and independent wealth management teams. Comparable to Romano as a relationship-driven independent wealth advisory platform serving high-net-worth and ultra-high-net-worth households.

Broad incumbents

• Charles Schwab Wealth Advisory: Major retail and registered investment advisory franchise of The Charles Schwab Corporation, offering wealth management, retirement, and fixed income products. Comparable to Romano as a registered investment advisor serving retail and mass-affluent households, though at vastly greater scale.
• Edward Jones: Large U.S. broker-dealer and registered investment advisor operating through a nationwide network of branch offices serving individual investors. Comparable to Romano as an advisor-based wealth management firm delivering retirement, investment, and estate planning services to mass-affluent and affluent households.
• LPL Financial: Largest independent broker-dealer in the U.S., supporting thousands of financial advisors with custody, clearing, and compliance infrastructure. Comparable to Romano in its independent broker-dealer/IA model and reliance on third-party clearing for back-office operations.
• Raymond James Financial Services: Large diversified financial services firm with a significant Private Client Group offering advisor-based wealth management, retirement, and estate planning. Comparable to Romano as an advisor-driven wealth advisory model with independent broker-dealer and RIA capabilities.

Regional players

• Wintrust Wealth Management: Chicago-area wealth management arm of Wintrust Financial Corporation serving affluent households with investment, retirement, and trust services. Comparable to Romano as a Chicago-region private wealth advisory firm with a similar affluent-customer focus and relationship-driven model.

Market position

Strengths4 records

Weaknesses4 records

Competitive moat4 records

Key risks5 records

Key highlights6 records

Customer concentration

Compliance3 records

Revenue estimate

Valuation estimate

Number of profiles

Profiles2 records

Funding overview

Funding rounds

Investors

Funding detail is available on the Subscription and Enterprise plan.Contact sales →

M&A

Investments

M&A and investment is available on the Subscription and Enterprise plan.Contact sales →

Frequently asked questions about Romano