Parker Wealth Management Group, LLC

What Parker Wealth Management Group, LLC does

Parker Wealth Management Group, LLC (PWMG) is an independent, privately held financial advisory firm based in Palos Park, Illinois, serving individual retirees and pre-retirees in the greater Chicago metropolitan area. The firm operates under a fiduciary approach and provides a single integrated suite of services spanning tax-efficient retirement income planning, investment strategy, estate planning, Social Security optimization, and risk management. The practice is led by two principal advisors: Steve Parker (CPA, MBA from Vanderbilt's Owen School of Business, Series 65, life insurance license, 35+ years of experience) and Ben Parker (Investment Advisor Representative, Series 65, life and health insurance licenses, 9 years of experience). Steve Parker is also a member of the American Institute of CPAs, and Ben Parker is pursuing the CFP and ChFC designations.

PWMG has no proprietary technology platform; it operates through a Squarespace-hosted website and delivers advice through direct advisor relationships supported by phone, email, and in-person workshops. Investment advisory services are offered under the registration of Brookstone Capital Management, LLC (BCM), a third-party registered investment advisor; insurance products are sold through individually licensed and appointed agents; and additional planning work is provided on a fee-for-service basis. The firm generates revenue from three streams: recurring AUM-based investment advisory fees (through BCM), transaction-based insurance commissions, and project-based fee-for-service planning engagements. PWMG markets itself primarily through community-based educational outreach — including retirement planning workshops, private briefings, and Steve Parker's leadership roles with the American Financial Education Alliance (AFEA) and a Regional United Way campaign — supplemented by a professional website and individual LinkedIn profiles.

The business is a small, family-led practice with no institutional investors, no disclosed funding, no M&A activity, and no stated headcount beyond the two principals. Geographic scope is domestic and narrowly concentrated in Illinois, and the firm's operating model is effectively a solo/small-team RIA branch operating under BCM's compliance umbrella rather than a scalable technology-enabled wealth platform.

Name

Parker Wealth Management Group, LLC

Legal name

Parker Wealth Management Group, LLC

Website

https://parkerwealthmanagementgroup.com

Company type

Private

Founded year

2001

Operating status

Operating

Headcount range

1–10 employees

Short description

Parker Wealth Management Group, LLC is an independent, Palos Park, Illinois-based financial advisory firm serving individual retirees and pre-retirees in suburban Chicago through fiduciary retirement income, investment, estate, and Social Security planning, led by two Parker-family advisors under Brookstone Capital Management's RIA registration.

Ownership category

akta.pro rank

Product category

Personal Financial Advisory and Retirement Planning

NAICS

Portfolio Management and Investment Advice (523940)

SIC

Investment Advice (6282), Insurance Agents, Brokers & Service (6411)

akta.pro primary industry

Insurance-Integrated Wealth Managers (RIA + Insurance Solutions) (FSAAACAI)

akta.pro secondary industries

Annuity & Insurance-Based Retirement Solutions Advisory (FSAEABAH), Retirement & Pension Wealth (401(k)/IRA/SIPP/Superannuation Retail) (FSAAAAAJ)

Keywords

• Retirement income planning
• Fiduciary financial advisory
• Tax-efficient investing
• Estate planning services
• Social security optimization

Headquarters

HQ city

Palos Park

HQ country

United States

HQ region

North America

Offices1 record

Markets served

GTM type

B2C

Offering type

Services

Cost components

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

Revenue model

1. Investment Advisory Fees: Investment advisory clients are charged a fee for assets under management. These services are offered through Brookstone Capital Management, LLC (BCM), a registered investment advisor. The firm operates as a fiduciary for investment management clients.
2. Insurance Commissions: Insurance products and services are offered and sold through individually licensed and appointed agents. Insurance products typically include a commission. By state law and NAIC regulations, fiduciary duty is not a requirement of providing insurance services.
3. Fee-for-Service: Parker Wealth Management Group, LLC (PWMG) provides services for a fee based on the service provided. This is separate from the AUM-based fees and commission-based insurance products.

Pricing tiers

Go-to-market motion2 records

Distribution channels2 records

Marketing channels4 records

Core offering

Parker Wealth Management Group, LLC provides fiduciary financial advisory and retirement planning services to individuals and couples approaching or in retirement. Core offerings include tax-efficient retirement income planning, investment strategy, estate planning, Social Security optimization, and risk management, with investment advisory services delivered through Brookstone Capital Management, LLC and insurance products sold by individually licensed agents.

Product overview

Parker Wealth Management Group, LLC operates as a single integrated financial advisory service rather than a platform with discrete products. The PWMG brand represents a unified suite of wealth management services that includes Fiduciary Responsibility (investment advisory through Brookstone Capital Management), Tax Efficiency planning, Social Security optimization, Estate Planning, and Risk Management. Steve Parker serves as the primary advisor with CPA and MBA credentials, while Ben Parker provides investment advisory services with Series 65 certification. All services are delivered under a fiduciary standard for investment management clients.

Differentiator

Problem solved

Functional benefit

Products and services

• Tax-Efficient Retirement Income Planning A retirement income planning service that develops plans to reduce income taxes at Federal, State, and Local levels for individual and couple clients approaching or in retirement. The offering is delivered by Steve Parker (CPA, MBA) and Ben Parker under a fiduciary approach.
• Fiduciary Investment Advisory Services Fiduciary investment management for clients approaching or in retirement, delivered through Brookstone Capital Management, LLC (BCM) as the registered investment advisor. Advisory clients are charged a fee based on assets under management, and PWMG operates as a fiduciary for these clients.
• Estate Planning Services Preparation of estate planning tasks that manage an individual's asset base in the event of their incapacitation or death, integrated with the firm's retirement income and tax planning for individual and couple clients.
• Social Security Optimization Service that integrates steps within the retirement plan to optimize after-tax Social Security cash flow for individual and couple clients approaching or in retirement.
• Risk Management and Asset Allocation Ongoing monitoring of the degree of risk a client is willing to endure and matching the client to an asset allocation that meets that risk tolerance and the client's time horizon.
• Insurance Products (Life and Health) Life and health insurance products offered and sold through PWMG's individually licensed and appointed agents (Steve Parker holds a Life Insurance License in Illinois; Ben Parker holds Life and Health Insurance Licenses in Illinois). Products typically carry a commission; fiduciary duty does not extend to insurance services.
• Retirement Planning Workshops and Private Briefings Financial education and speaking engagements led by Steve Parker, who regularly instructs future and current retirees through retirement planning workshops and private briefings. These sessions serve both an educational purpose and as a lead-generation channel for PWMG's advisory services.

Named customers1 record

Segments2 records

Ideal customer profiles1 record

Technology focussed No

API detail

Has API

No

API docs

API detail

Core technology

AI maturity

App detail

Partnerships

One partnership is on record.

• Brookstone Capital Management, LLC (BCM)coreTechnology or IntegrationInvestment advisory services offered through Brookstone Capital Management, LLC (BCM), a registered investment advisor. PWMG and BCM are independent of each other. The relationship allows PWMG to provide investment advisory services under BCM's RIA registration, with fiduciary duty extending to investment advisory services provided through this partnership.

Scale indicators2 records

Recent moves5 records

Expansion highlights4 records

Direct peers

• Hightower Advisors: Hightower is a national RIA partnership platform that provides independent advisors with RIA registration, custody, and back-office support — directly analogous to PWMG's relationship with Brookstone Capital Management. Both models enable small advisory teams to deliver fiduciary investment management while operating under their own brand.
• Edelman Financial Engines: One of the largest independent RIAs in the U.S., with a deep specialization in retirement income planning, Social Security optimization, and tax-efficient strategies for individuals approaching or in retirement. Overlaps directly with PWMG's primary customer segment and core service mix.
• Creative Planning: Large national RIA offering comprehensive wealth, retirement, tax, and estate planning to individuals and households. Highly comparable to PWMG's integrated retirement-planning value proposition, though at vastly greater scale.

Emerging players

• Facet Wealth: Tech-enabled RIA serving mass-affluent and pre-retiree households with flat-fee retirement, tax, and estate planning — directly competes with PWMG for the same suburban retiree demographic but via a digital delivery model.
• Empower (formerly Personal Capital):

Broad incumbents

• Cetera Financial Group: Large broker-dealer and RIA support platform serving thousands of independent financial professionals with compliance, technology, and product access — overlapping with the BCM-style platform relationship PWMG uses for investment advisory delivery.
• Fisher Investments: Large investment manager focused on portfolio management and retirement-oriented advisory for high-net-worth and mass-affluent individuals — overlaps with PWMG's investment strategy and retirement planning offerings, though at much greater scale.
• Commonwealth Financial Network: Independent broker-dealer and RIA supporting thousands of financial advisors with retirement-focused practices; comparable to PWMG in serving individual retirees and pre-retirees via hybrid fee/commission models.

Market position

Strengths1 record

Weaknesses1 record

Competitive moat4 records

Key risks5 records

Key highlights5 records

Customer concentration

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 Parker Wealth Management Group, LLC