Douglass Financial Services

What Douglass Financial Services does

Douglass Financial Services is an independent, fee-based financial planning and consulting firm headquartered in Pontiac, Illinois, with a second office in Bloomington, founded in 1973 by Sam Douglass after his tenure as a school administrator in Ecuador. The firm serves individuals and families in Central Illinois and is currently led by Partners Darrell Douglass (joined 1996, formerly a management consultant at a top Chicago consulting firm) and David Douglass (joined 2005), with Sam Douglass as Partner Emeritus. The practice is multi-generational and family-led, employing between 1 and 10 staff including an operations manager, client/community manager, marketing manager, and financial advisor assistants.

The firm's core offering is a five-line service portfolio: Investment Advisory Services (risk, portfolio, and diversification analysis), Investment Management (managed accounts across stocks, bonds, mutual funds, ETFs, REITs, and alternative investments), Legacy Planning (estate and life insurance planning coordinated with clients' attorneys), Cash Flow and Income Planning (Social Security timing, pension analysis, long-term care, and disability insurance), and Tax and Distribution Planning (coordinated with clients' tax advisors). Technology is consumer-facing and third-party: the website runs on Squarespace CMS, client account reporting is delivered through CIRStatements, investment account access and paperless statements are handled via NetXInvestor (Cambridge/Pershing), and advisor-client text messaging runs on Hearsay Relate. No proprietary technology, AI/ML capabilities, or API platform is present in the stack.

Douglass Financial generates revenue through fee-based advisory services (subscription/recurring) and securities transaction fees. Securities are offered through Cambridge Investment Research, Inc. (Broker/Dealer, FINRA/SIPC member), and advisory services through Cambridge Investment Research Advisors, Inc. (RIA), enabling open-architecture product access while maintaining firm independence. The customer acquisition motion is sales-led and counseling-based, with a free initial meeting, a structured four-step process from booking through follow-up recommendations and ongoing service, supported by content marketing, community events, and referral-driven lead flow concentrated in Central Illinois. Securities are offered to residents of 25 states through Cambridge's broker-dealer platform, extending the firm's regulatory reach well beyond its physical footprint.

Name

Douglass Financial Services

Legal name

Douglass Financial Services

Website

https://douglassfinancial.com

Company type

Private

Founded year

1973

Operating status

Operating

Headcount range

1–10 employees

Short description

Douglass Financial Services is an independent, fee-based financial planning firm founded in 1973 and headquartered in Pontiac, Illinois, serving individuals and families in Central Illinois with investment advisory, investment management, legacy, cash flow, and tax planning services, with securities offered through Cambridge Investment Research.

Ownership category

akta.pro rank

Product category

Financial Planning and Investment Advisory Services

NAICS

Portfolio Management and Investment Advice (523940)

SIC

Investment Advice (6282)

akta.pro primary industry

Fee-Only Advisory (FSAEAAAL)

akta.pro secondary industry

Discretionary Portfolio Management (Retail) (FSAAAAAH)

Keywords

• Financial planning services
• Investment advisory
• Retirement planning
• Legacy planning
• Wealth management

Headquarters

HQ city

Bloomington

HQ country

United States

HQ region

North America

Offices2 records

Markets served

GTM type

B2C

Offering type

Services

Cost components

Personnel, Operations, Marketing or Sales, Technology or R&D, Others

Revenue model

1. Fee-Based Financial Planning and Advisory Services: The firm provides fee-based financial planning and investment management services with unbiased advice. Revenue is generated through advisory fees for investment advising, management, legacy planning, cash flow and income planning, and tax and distribution planning services.
2. Securities Transactions: Securities are offered through Cambridge Investment Research, Inc., a Broker/Dealer, member FINRA/SIPC. The firm serves residents of multiple states including AZ, CA, CO, DE, FL, GA, IA, IL, IN, KS, KY, MI, MN, MO, MS, NC, NV, OH, OK, OR, SC, TN, TX, WA, WI.

Pricing tiers

Go-to-market motion1 record

Distribution channels3 records

Marketing channels5 records

Core offering

Douglass Financial Services is an independent, fee-based financial consulting firm that provides personalized financial planning and investment management services to individuals and families. The firm delivers five core service lines: Investment Advisory, Investment Management, Legacy Planning, Cash Flow & Income Planning, and Tax & Distribution Planning. Securities are offered through Cambridge Investment Research, Inc., while the firm itself operates independently from that broker-dealer.

Product overview

Douglass Financial Services offers a comprehensive suite of financial planning and investment management services delivered through an independent, fee-based advisory model. The core service portfolio includes five interconnected offerings: Investment Advisory Services (customized planning with risk and diversification analysis), Investment Management (managed accounts across stocks, bonds, mutual funds, ETFs, REITs, and alternatives), Legacy Planning (estate and life insurance coordination with attorneys), Cash Flow & Income Planning (including Social Security, pension, and insurance analysis), and Tax & Distribution Planning (coordinated with tax advisors). Client-facing technology includes CIRStatements for consolidated account reporting and NetXInvestor for online investment account access and paperless management. The firm operates independently, aligned with Cambridge Investment Research, Inc. as broker/dealer.

Differentiator

Problem solved

Functional benefit

Products and services

• Investment Advisory Services Customized investment planning that includes risk, portfolio, and diversification analysis. Advisors spend time understanding each client's unique situation to create personalized investment plans accounting for volatility tolerance and balancing loss avoidance with inflation-adjusted growth needs. Targeted at individuals and families in Central Illinois.
• Investment Management Managed accounts with access to stocks, bonds, mutual funds, ETFs, real estate investment trusts, and alternative investments. Includes regular account monitoring and benchmarking against best-in-class managers and investment tools to help clients meet financial goals. Targeted at individuals and families seeking ongoing portfolio management.
• Legacy Planning Estate and life insurance planning services coordinated with clients' attorneys. The firm acts as a sounding board to guide clients to appropriate planning tools for achieving legacy goals, reviewing important issues as they arise in partnership with legal advisors. Targeted at families focused on financial legacy and wealth transfer.
• Cash Flow & Income Planning Planning services including long-term care and disability insurance analysis and guaranteed lifetime income alternatives. Addresses questions about Social Security collection timing, pension payout structuring, and use of insurance products for income and asset protection. Targeted at retirees and pre-retirees.
• Tax & Distribution Planning Strategic planning coordinated with clients' tax advisors for managing when and how to access financial resources while minimizing tax impact and avoiding suboptimal withdrawal timing from accounts. Targeted at individuals and families needing tax-aware distribution strategies.

Segments3 records

Ideal customer profiles3 records

Technology focussed No

API detail

Has API

No

API docs

API detail

Core technology

AI maturity

App detail

Integration3 records

Feature3 records

Partnerships

One partnership is on record.

• Cambridge Investment Research, Inc.coreChannel Partner/ Reseller/ DistributorSecurities offered through Cambridge Investment Research, Inc., a Broker/Dealer, member FINRA/SIPC. Advisory services offered through Cambridge Investment Research Advisors, Inc., a Registered Investment Advisor. Douglass Financial Services is aligned with Cambridge as one of the most respected independent broker-dealers, enabling objective advice, customized services, superior technology, and an open architecture platform. Cambridge and Douglass Financial are not affiliated.

Scale indicators3 records

Recent moves6 records

Expansion highlights4 records

Broad incumbents

• Robert W. Baird: Employee-owned, Midwestern-headquartered wealth management firm providing financial planning, investment management, and retirement services to individuals and families. Comparable in regional Midwestern roots, fee-based planning, and focus on individuals and families.
• Raymond James Financial: Diversified financial services firm with a large independent advisor channel offering comprehensive financial planning, investment management, and retirement services to individuals. Comparable in fee-based advisory and full-service wealth offering, though operating at materially greater scale.
• LPL Financial: Largest independent broker-dealer in the U.S., supporting ~22,000 financial advisors with fee-based and commission-based advisory services, custody, and technology. Comparable in serving independent RIAs through a B/D platform, though far larger and broader in scope.
• Cetera Financial Group: Independent broker-dealer and RIA platform supporting independent financial advisors with wealth management, investment, and insurance services. Comparable in independent-advisor affiliation model and fee-based planning orientation.
• Waddell & Reed Financial (Macquarie Asset Management): Diversified wealth management firm (acquired by Macquarie) historically serving individuals with financial planning, investment advisory, and retirement services, with strong Midwestern presence. Comparable in Midwestern roots and individual-focused financial planning, though now operating within a much larger global asset manager.

Direct peers

• Cambridge Investment Research: Douglass Financial's affiliated broker-dealer/RIA platform; one of the largest independent B/Ds in the U.S. with a network of independent financial advisors offering fee-based and commission-based advisory services. Directly comparable in independent-advisor business model and target customer base.
• Edward Jones: Large national network of independent financial advisors serving individuals and families with personalized financial planning, investment, and retirement services. Operates a similar branch-based, locally-embedded advisory model targeting mass-affluent and retirement-age clients — directly comparable in customer profile and service mix.
• North Star Resource Group: Independent financial advisory firm providing retirement, estate, and wealth planning services to individuals and business owners. Comparable in fee-based financial planning, multi-state reach, and target on individuals/families seeking integrated retirement and legacy planning.
• Hightower Advisors: Wealth management partnership platform that acquires or partners with independent RIAs, providing investment, financial planning, and consulting services to individuals, families, and institutions. Comparable in independent advisory model and fee-based financial planning focus.

Emerging players

• Avantax (now part of Cetera): Wealth management firm focused on tax-focused financial planning for individuals and small-business owners, offering investment advisory and financial planning services. Comparable in serving individuals with fee-based integrated planning, particularly around tax and legacy considerations.

Market position

Strengths5 records

Weaknesses5 records

Competitive moat3 records

Key risks6 records

Key highlights6 records

Customer concentration

• Facebookfacebook.com/DouglassFinancialServices
• LinkedInlinkedin.com/company/douglass-financial

Compliance4 records

Revenue estimate

Valuation estimate

Number of profiles

Profiles9 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 Douglass Financial Services