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Latko Wealth Management
Thomas Latko established Latko Wealth Management in Frankfort, Illinois, in 1989 as a registered investment advisor. The firm has since evolved into a...
Latko Wealth Management
Thomas Latko established Latko Wealth Management in Frankfort, Illinois, in 1989 as a registered investment advisor. The firm has since evolved into a family-run practice, with Kevin Latko serving as Vice President. It serves individuals, high-net-worth clients, and various entities primarily in the greater Chicago area and broader Midwest. The firm delivers fee-only portfolio management and comprehensive financial planning. Its investment approach centers on constructing diversified portfolios tailored to individual client goals, risk tolerance, and time horizons. Asset classes typically incorporated include domestic equities, fixed income, and mutual funds. As an RIA, Latko operates under a fiduciary duty, meaning it is legally obligated to place client interests ahead of its own. The firm does not publicly disclose specific portfolio holdings or investment strategies. Latko Wealth Management maintains a deliberately lean structure. The team is led by its founder and his son, reflecting the succession planning common among independent advisory practices. The firm's operational footprint remains concentrated in Frankfort, Illinois. In recent years, the advisory industry has seen a wave of consolidation as RIAs roll up into larger platforms; Latko has remained independent, continuing to serve its established client base without public announcements of acquisitions or major structural changes. Unlike larger RIAs that build proprietary investment products or in-house fund vehicles, Latko's structure relies entirely on third-party custodied assets and external fund selections. This architecture separates advice from asset custody, providing an additional layer of client protection. The father-son governance also creates a clear line of succession that eliminates uncertainty about practice continuity, a common concern among clients of solo-advisor firms.
General information
Firm type
Bank / Wealth / Trust
Year founded
1989
AUM
Undisclosed
Location
Region
North America
Country
United States
City
Frankfort
Corporate office
Frankfort, IL, United States
Principals
Thomas Latko
Founder & President
Kevin Latko
Vice President
Sector focus
Frequently asked questions
Who runs investment decisions at Latko Wealth Management?
Thomas Latko, the founder and President, leads the firm's investment advisory and portfolio management functions. His son Kevin Latko serves as Vice President, representing the next generation of leadership. As a small independent RIA, investment decisions are made directly by the principals rather than delegated to a separate investment committee or outsourced CIO.
Does Latko Wealth Management follow a fiduciary standard?
Yes. As a registered investment advisor, Latko is bound by the Investment Advisers Act of 1940 and operates under an explicit fiduciary duty to its clients. This requires the firm to put client interests first, disclose conflicts of interest, and recommend investments that are suitable and in the client's best interest—distinguishing it from broker-dealers who operate under a lower suitability standard.
How does Latko Wealth Management charge for its services?
Latko charges fees directly to clients, typically as a percentage of assets under management or through fixed planning fees. This fee-only model avoids commission-based compensation, removing the incentive to recommend products that generate higher payouts for the advisor. Specific fee schedules are disclosed to prospective clients and outlined in the firm's Form ADV Part 2 brochure.
Does Latko Wealth Management create its own investment products?
No. The firm does not operate proprietary mutual funds, ETFs, or private investment vehicles. Client portfolios are built using third-party investment products held at independent custodians. This separation of advice from product manufacturing and custody reduces conflicts of interest and keeps the firm's focus on portfolio construction and planning rather than asset gathering for an in-house fund family.
What succession plan exists at Latko Wealth Management?
Kevin Latko, the founder's son, holds the title of Vice President and represents the firm's designated successor. A family succession structure is common among multi-generational RIAs and provides clients with continuity assurance. This arrangement indicates the practice intends to remain independently owned rather than being sold to a consolidator or external acquirer, though no formal succession agreement has been publicly detailed.
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