Company Overview
Veracity Wealth Management was established in 2017 by Jeremy Johnson with the primary mission of offering sophisticated and unbiased financial advice tailored to individual client goals. Located at 17W220 22nd Street, Suite 445, Oakbrook Terrace, Illinois, the firm aims to empower clients towards financial freedom through comprehensive wealth management services, including investment management, retirement planning, income tax planning, estate planning, and insurance and risk management.
Founder and Key Personnel
- Jeremy Johnson: Founder of Veracity Wealth Management, Jeremy is a Chartered Financial Analyst® and a Certified Financial Planner™ with over 15 years of experience. His expertise extends across investment management and financial planning, serving high-net-worth clients throughout the United States. Jeremy holds a Bachelor of Science in Finance from the University of Illinois at Urbana-Champaign and a Master's Degree in Financial Planning from the College for Financial Planning.
Core Services
- Investment Management: Focuses on goal assessment, setting risk-return parameters, and constructing and monitoring portfolios with a strategy that balances discipline and flexibility in response to market changes.
- Income Tax Planning: Aims to proactively minimize tax liabilities by conducting year-round analyses for strategic decision-making.
- Retirement Planning: Provides advice on asset adequacy for retirement and strategic steps during working years to ensure financial security.
- Estate Planning: Facilitates wealth distribution aligning with client desires, focusing on beneficiary designations and tax deferral opportunities.
- Insurance & Risk Management: Offers strategies for asset protection, including property, casualty, life, and health insurance guidance.
Unique Selling Proposition
Veracity Wealth Management distinguishes itself through unbiased, comprehensive advice that integrates tax implications and insurance needs into investment strategies. With a fee-based compensation model, the firm ensures no conflicts of interest by avoiding commissions from financial product sales.
Contact Information
- Phone: 630.397.0630
- Email: jjohnson@veracity365.com
- Website: [veracity365.com](https://www.veracity365.com/)
Veracity Wealth Management is dedicated to acting in the best interests of its clients, serving as a central point of contact for all financial needs, thereby ensuring a holistic approach to wealth management.
Competitor Profiling for Veracity Wealth Management
Veracity Wealth Management operates in a dynamic and competitive space, surrounded by several key players in the financial services industry.
Notable Competitors
1. Fidelity Investments:
- Assets Under Management (AUM): $5.8 trillion as of 2024.
- Services: Asset management, wealth management, brokerage services, financial planning, and retirement planning.
- Headquarters: Boston, Massachusetts.
- Key Financials: Revenue of $32.7 billion and operating income of $10.3 billion in 2024.
- Ownership: 49% by the Johnson family, 51% by employees.
- Global Presence: Operations in 11 countries with significant international activities.
2. Morgan Stanley:
- AUM: $1.67 trillion in 2024.
- Revenue: $61.8 billion with an operating income of $17.6 billion.
- Global Reach: Presence in 41 countries supported by a workforce of 80,000.
- Recent Developments: Acquisition of Eaton Vance and E*Trade, enhancing wealth management and investment capacities.
- Ownership: Majority holdings by institutional investors, Mitsubishi UFJ Financial Group holds 23.38%.
3. Copper Canyon Wealth Management:
- Services: Comprehensive financial services including investment management, financial planning, and retirement, wealth, and estate planning.
- Location: Mesa, Arizona with a team of fewer than 25 employees.
- Specialties: Personalized investment strategies, retirement, and insurance services.
4. Focus Financial Network:
- Services: Independent financial advice and investment advisory.
- Size: Large network with 201-500 employees, headquartered in Minneapolis, MN.
- Approach: Delivers comprehensive asset management and planning services through independent advisors.
5. Cape Cod Wealth Strategies & Insurance Services:
- Services: Holistic wealth management, financial planning, and insurance services.
- Location: South Yarmouth, Massachusetts.
- Market Position: Emphasizes tailored strategies to meet client goals, managing assets between $1 million and $5 million with a small team of 1-5 employees.
Strategic Insights
- Market Positioning: Firms such as Fidelity and Morgan Stanley are global leaders with extensive service offerings and robust AUM, establishing them as formidable competitors.
- Target Market: Smaller competitors like Copper Canyon and Cape Cod Wealth Strategies target niche markets by offering personalized service which appeals to individual investors.
- Industry Trends: A move towards digital solutions and expansion through acquisitions reflects the competitive landscape focused on strategic growth and diversification.
By understanding the strengths and strategic approaches of these competitors, Veracity Wealth Management can strategically position itself in the market. Emphasizing enhanced client services, integrating technology, and exploring potential collaborations or acquisitions could provide a competitive edge in the evolving financial services industry.
