Patrick Phalen is a registered investment advisor at Osaic Institutions, INC., based in Springfield, IL, with 29 years of industry experience. Patrick operates on a fee-only basis, meaning they do not earn commissions from product sales. Their practice areas include Estate Planning, Financial Planning & Coaching, Insurance Planning, Retirement Planning. Their firm serves 7,211 clients with $4B in assets under management.
Compensation
Firm Size
Number of Clients
Average Client Portfolio
Assets Under Management
Fee Structure
Fees for customized advisory services are based on the value of your portfolio and are negotiable. The maximum advisory fee is 2.50%. You may pay monthly or quarterly account fees, either in advance or after the service is provided. These fees are directly deducted from your account. If you invest in mutual funds or ETFs, you'll pay advisory fees to both the fund manager and Osaic Institutions. If the custom advisory services apply to annuities for which the advisor receives trail compensation, such trail fees generally will be used to offset the advisory fee.
Location
322 E. Capitol Ave, Springfield, IL, 62701
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Regulatory History
No disclosures, customer disputes, or regulatory actions on file.
Disclosures include customer complaints, regulatory actions, and other events that advisors must report to the SEC. A clean record means none have been reported.
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Patrick is a Senior Vice President & Manager of the Trust Department at Illinois National Bank since 1999, dedicating full-time hours during market trading hours. He is also the President and CEO of the holding company and EVP of the bank, a role he has held since 1999.
Employment History
Current Registrations
Osaic Institutions, INC.
Osaic Institutions, INC.Broker
Previous Registrations
Hilltop Securities Independent Network INC.
Hilltop Securities Independent Network INC.Broker
Assist Investment Management Company, INC.Broker
Invest Financial CorporationBroker
Banc One Securities CorporationBroker
First of America Brokerage Service, INC.Broker
State Registrations1 state
You can work with an advisor not registered in your state. Most advisors can legally serve a small number of clients across state lines without registering.