Phase III Advisory Services provides financial planning, portfolio management for individuals and small businesses, and selecting other managers. Financial planning was provided to 251–500 clients last fiscal year.
Phase III Advisory Services reports 483 clients. They include 414 individual clients and 69 high-net-worth individuals. Of its assets, 74.8% ($158M across 931 accounts) are managed with discretion; $53.2M across 469 accounts are not. A wrap fee program the firm both sponsors and manages holds $65.6M. It advised 5 clients without assets under management last fiscal year.
| Client type | Clients | Assets |
|---|---|---|
| Individuals (other than HNW) | 86% | 41% |
| High-net-worth individuals | 14% | 59% |
Client breakdown and activity details
| Client type | Clients | Regulatory AUM | AUM share | Avg. per client |
|---|---|---|---|---|
| Individuals (other than HNW) | 414 | $86.8M | 41.2% | $210K |
| High-net-worth individuals | 69 | $124M | 58.8% | $1.8M |
| Total | 483 | $211M | 100% | $437K |
- Clients
- 414
- Regulatory AUM
- $86.8M
- AUM share
- 41.2%
- Avg. per client
- $210K
- Clients
- 69
- Regulatory AUM
- $124M
- AUM share
- 58.8%
- Avg. per client
- $1.8M
Total
- Clients
- 483
- Regulatory AUM
- $211M
- AUM share
- 100%
- Avg. per client
- $437K
- Clients outside the U.S.
- 0%
- Clients advised without assets under management last fiscal year
- 5
- Private funds advised
- 0
- Financial planning clients last fiscal year
- 251–500
Phase III Advisory Services is paid through a percentage of assets under management, hourly charges and fixed fees (other than subscription fees). The reviewed brochures do not disclose an asset-based fee rate. Read the SEC-filed brochure. The brochure also prices one other service, listed under fee details.
Fee details and sources
Other fees
- Financial planning and consultative services
- Financial planning and consultative services are billed at $360 an hour or as negotiated case by case, payable on completion of the service.
John Bever owns 75% or more of Phase III Advisory Services. The leadership team of Phase III Advisory Services includes President John Bever. It has 3 employees.
Leadership
John BeverPresident/Chief Compliance Officer
Investment adviser representatives
3 representatives listed in the SEC register as of 9 October 2026.
Staff
- 3 employees
- 3 in advisory functions
- 3 state-registered reps
- 3 broker-dealer reps
- 3 insurance agents
- Owns 75% or more of Phase III Advisory Services, LTD
John Bever
Control person · since June 1984
Phase III Advisory Services’ regulatory assets grew 1.7× from $126M (May 2021) to $211M (April 2026); clients rose from 272 to 483 and employees were 3 in both filings.
Figures from each annual filing
| Filed | Regulatory AUM | Clients | Employees | Offices |
|---|---|---|---|---|
| April 2026 | $211M | 483 | 3 | 2 |
| March 2025 | $162M | 366 | 3 | 1 |
| April 2024 | $148M | 351 | 2 | 1 |
| July 2023 | $136M | 285 | 2 | 1 |
| March 2022 | $152M | 278 | 2 | 1 |
| May 2021 | $126M | 272 | 3 | 1 |
Besides its headquarters, Phase III Advisory Services has 1 office, with 2 listed addresses in Illinois.
Illinois · 2 listed addresses
- 1110 W. Lake Cook RD, Suite 265, Buffalo GroveHQ
- 15 Oak Street, Frankfort
Contact and registration details
- Legal name
- Phase III Advisory Services, LTD
- Headquarters
- 1110 W. Lake Cook RD, Suite 265, Buffalo Grove, IL 60089
- Website
- phase3advisory.com
- Phone
- 847-520-5545
- SEC file
- 801-63806
- Structure
- Illinois corporation
- Fiscal year end
- December
Phase III Advisory Services uses Pershing ($165M) as custodian for its separately managed accounts. Phase III Advisory Services does not have custody of client assets.
- PershingPershing LLC · Jersey City, NJ · $165M100%
At year end, Phase III Advisory Services’ separately managed accounts were mostly in funds (76%) and cash (12%).
What the accounts hold
- Stocks10%
- Funds76%
- Bonds2%
- Cash12%
How many clients does Phase III Advisory Services have?
Phase III Advisory Services has 483 clients and manages $211 million for them, as of April 2026. They include 414 individual clients and 69 high-net-worth individuals.
Source: Form ADV Part 1A, Items 5.D and 5.F, filed 28 April 2026
What services does Phase III Advisory Services offer?
Phase III Advisory Services provides financial planning, portfolio management for individuals and small businesses, and selecting other managers.
Source: Form ADV Part 1A, Item 5.G, from the SEC's 2 October 2026 data file
Which custodians does Phase III Advisory Services use?
Phase III Advisory Services’ separately managed account assets are held at Pershing LLC (Jersey City, NJ), with $165M. Only custodians holding at least a tenth of those assets are named.
Source: Form ADV Part 1A, Schedule D, Section 5.K.(3), filed 28 April 2026
How many financial advisors does Phase III Advisory Services have?
Phase III Advisory Services has 3 investment adviser representatives registered with state securities authorities, out of 3 employees, and 3 perform investment advisory functions. 3 employees are registered representatives of a broker-dealer and 3 employees are licensed insurance agents.
Source: Form ADV Part 1A, Items 5.A and 5.B, from the SEC's 2 October 2026 data file
What does Phase III Advisory Services invest in?
At the end of its last fiscal year, Phase III Advisory Services’ separately managed accounts held 76% registered funds (mutual funds, ETFs, BDCs), 12% cash and equivalents, 10% exchange-traded equities and 2% U.S. government and agency bonds.
Source: Form ADV Part 1A, Items 5.K.(1) and 7.B, from the SEC's 2 October 2026 data file
Who owns Phase III Advisory Services?
Phase III Advisory Services’ direct owner is John Bever (75% or more).
Source: Form ADV Part 1A, Schedules A and B, filed 28 April 2026
How does Phase III Advisory Services get paid?
Phase III Advisory Services is paid through a percentage of assets under management, hourly charges and fixed fees. Its Form ADV lists no commissions or performance-based fees among how it is paid.
Source: Form ADV Part 1A, Item 5.E, from the SEC's 2 October 2026 data file
How do I contact Phase III Advisory Services?
Phase III Advisory Services’ main office is at 1110 W. Lake Cook RD, Suite 265, Buffalo Grove, IL 60089. Its phone number is 847-520-5545. Its website is phase3advisory.com.