Providence Wealth Advisors, LLC

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Client assets under management

$645,667,386

Clients

617

0% high-net worth

Advisors

of 11 employees

Firm type

Team

4-10 advisors or $500M+ in AUM

Clients per advisor

123

Very High

Average account size

$1,046,463

About

Providence Wealth Advisors, LLC is an SEC-registered advisory firm that provides discretionary and non-discretionary portfolio management, financial planning, estate planning, and retirement-plan services to individuals, trusts, retirement and pension plans, and state or municipal government entities. The firm reports $684,371,195 in discretionary assets under management and serves a client base that includes both retail investors and institutional plan sponsors.

The firm structures client portfolios around asset-allocation models grounded in modern portfolio theory, using diversified mixes of individual securities, mutual funds, ETFs and, when appropriate, separate account managers and third‑party software for analysis and reporting. Providence Wealth provides regular performance reporting and offers financial planning to advisory clients at no additional charge, and it may implement hedging and monetization strategies — including derivatives and covered‑call writing — for concentrated stock positions when suitable.

Providence Wealth is principally owned by Providence Bank & Trust Company, and the bank‑affiliate relationship affects how the firm is offered to clients and creates operational connections — including instances where the bank serves as corporate trustee and the firm is deemed to have custody and undergoes a surprise custody audit. A number of its advisory professionals are licensed insurance agents and may sell insurance products for commission, and the firm’s client roster notably includes state and municipal government entities, a client type that is less common among similar team‑based advisory firms.

Client services

Financial planning Portfolio management

Expertise

Concentrated stock management Options & derivatives strategies Retirement income strategy

Fee options

Percentage

$0 - $250,000: 1.25% $250,001 - $500,000: 1.00% $500,001 - $1,000,000: 0.85% $1,000,001 - $1,500,000: 0.75% $1,500,001 - $2,000,000: 0.65% $2,000,001+: 0.50%

Commissions

Certain advisory professionals may earn commissions for insurance product sales

Other

Account minimum: $40,000 Minimum fee: Minimum annual fee of $500

Main office location

Providence Wealth Advisors, LLC

20220 South Lagrange Road

Frankfort IL 60423, United States

Number of offices

Most active in

California · Florida · Illinois · Indiana · Michigan · New Hampshire · Texas

Disclosures

Business activities & affiliations

Is active or affiliated with:

Insurance agent

They sell insurance products and may earn commissions on those sales.

Bank

They're affiliated with a bank that may offer its own financial products and services.

Is not active or affiliated with:

Broker-dealer / trader

They provide brokerage services and may earn transaction-based compensation in addition to advisory fees.

Trust company

They provide trust and estate administration services, typically for separate fees.

Fund sponsor

They manage or sponsor investment funds and may earn management or performance-based fees if clients invest in them.

Accountant / CPA / tax prep

They offer tax and accounting services, typically for separate fees.

Lawyer

They provide legal services, typically billed separately.

Real estate agent

They facilitate real estate transactions and may earn commissions.

Other specialized services

They may provide services such as pension consulting or municipal advisory work, typically for separate fees.

Forms ADV

Form ADV Part 2: Client Brochure Form ADV Part 3: Client Relationship

Quick links

LinkedIn Website 815-306-2020

Advisors at this firm

Jay F

Series 65

Frankfort, IL

Providence Wealth Advisors, LLC

Jay Faler is a financial advisor at Providence Wealth Advisors, LLC with eight years of industry experience. He holds a Series 65 designation and previously worked at Standard Bank & Trust from 2012 to 2016 before joining Providence Wealth Advisors in 2017. Providence Wealth Advisors is an SEC-registered investment adviser that provides portfolio management, financial planning, and estate-planning advice to individuals, trusts, retirement plans, and government entities. The firm serves a range of clients including high-net-worth individuals and uses asset-allocation models based on modern portfolio theory to construct diversified portfolios.

Concentrated stock management Options & derivatives strategies Retirement income strategy

Douglas D

CFP®, Series 65

Frankfort, IL

Providence Wealth Advisors, LLC

Douglas Degroot is a CFP® with 15 years of industry experience and has been with Providence Wealth Advisors, LLC since 2010. He holds a Series 65 license and is based in Frankfort, IL. Providence Wealth Advisors, LLC is an SEC-registered investment adviser that provides portfolio management, financial planning, and estate-planning services to individuals, trusts, retirement plans, and government entities. The firm uses asset-allocation models based on modern portfolio theory to build diversified portfolios and serves a range of clients including high-net-worth individuals, offering financial planning at no additional charge.

Concentrated stock management Options & derivatives strategies Retirement income strategy

Brian G

Series 65

Frankfort, IL

Providence Wealth Advisors, LLC

Brian Granato is a Series 65-licensed financial advisor with Providence Wealth Advisors, LLC, where he has worked since 2010. He has 15 years of industry experience. Providence Wealth Advisors, LLC is an SEC-registered investment adviser that provides discretionary and non-discretionary portfolio management, financial planning, and estate-planning advice to individuals, trusts, retirement plans, and government entities. The firm serves a range of clients, including high-net-worth individuals, and uses asset-allocation models based on modern portfolio theory to construct diversified portfolios.

Concentrated stock management Options & derivatives strategies Retirement income strategy

Nicole S

Series 65

Frankfort, IL

Providence Wealth Advisors, LLC

Nicole Smit is a financial advisor at Providence Wealth Advisors, LLC with 12 years of industry experience. She holds a Series 65 designation and has been with Providence Wealth Advisors since 2013. The firm is an SEC-registered investment adviser that provides portfolio management, financial planning, and estate-planning advice to individuals, trusts, retirement plans, and government entities. Providence Wealth Advisors serves a range of clients including high-net-worth individuals and employs asset-allocation models based on modern portfolio theory to construct diversified portfolios.

Concentrated stock management Options & derivatives strategies Retirement income strategy

Laura F

Series 66

Frankfort, IL

Providence Wealth Advisors, LLC

Laura Fasan is a financial advisor at Providence Wealth Advisors, LLC with 28 years of industry experience. She holds the Series 66 designation and has worked at firms including First Midwest Bank, LPL Financial, infinex Investments, Inc., and STANDARD BANK & TRUST. She is also licensed in variable, life, and health insurance. Providence Wealth Advisors, LLC is an SEC-registered investment adviser that provides portfolio management, financial planning, and estate-planning advice to individuals, trusts, retirement plans, and government entities. The firm serves a range of clients, including high-net-worth individuals, and uses asset-allocation models based on modern portfolio theory to build diversified portfolios.

Concentrated stock management Options & derivatives strategies Retirement income strategy

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