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Updated September 28, 2026. Quick answer: Old Second Wealth Management is registered with the SEC as an investment adviser (CRD #153537, confirmed ACTIVE this session via SEC IAPD). Per its own current fee brochure, a $500,000 account would run $5,000 a year under its published fee schedule. Already a client and thinking about leaving? Budget $50 at Schwab. This review covers what its own fee brochure and current SEC registration confirm today; this firm also has a fiduciary-status page and minimum-investment page on this site.
Old Second Wealth Management at a glance
| Fact | What Old Second Wealth Management’s own pages say |
|---|---|
| Legal entity | River Street Advisors, LLC |
| Registration | River Street Advisors, LLC is registered with the SEC as an investment adviser (CRD #153537, confirmed ACTIVE this session via SEC IAPD). |
| Fee on a $500,000 account | $5,000 a year, per its own current brochure |
| Minimum to open an account | See the minimum-investment page for Old Second Wealth Management |
| Cost to leave (exit fee) | $50 at Schwab |
What Old Second Wealth Management’s own fee schedule charges
CRD 153537 is ACTIVE and SEC registered per a live IAPD lookup performed this session (isSECRegistered: Y, iaScope: ACTIVE). The firm’s current registered legal name is River Street Advisors, LLC, doing business as Old Second Wealth Management, a subsidiary of Old Second National Bank. The firm’s own brochure states $520,799,829 in discretionary and $18,429,376 in non-discretionary client assets as of December 31, 2025, for total assets under management of roughly $539.2 million. The priced schedule is the firm’s core Portfolio Management Services program for individual and high-net-worth clients. The brochure separately states that RSA generally requires a minimum account value of $250,000 for discretionary accounts and describes this as producing an implied minimum annual fee of $2,500, which is applied here as a disclosed floor on the annual dollar charge.
“Our fee for portfolio management services is based on a percentage of the assets in your account and is set forth in the following annual fee schedule: Annual Fee Schedule Assets Under Management Annual Fee First $1,000,000 1.00% Next $1,000,000 0.80% Next $3,000,000 0.70% Over $5,000,000 0.50%”
At $250,000 the tiered schedule prices at the first bracket’s one percent, for $2,500 a year, which matches the brochure’s own stated implied minimum annual fee; at $500,000 and $1,000,000 the balance still sits within the first $1,000,000 bracket, holding the rate at one percent. At $2,000,000 the marginal brackets step down: the first $1,000,000 prices at one percent and the next $1,000,000 fills the second bracket in full at 0.80 percent, for a combined $18,000 a year.
| Account balance | Annual fee |
|---|---|
| $250,000 | $2,500 |
| $500,000 | $5,000 |
| $1,000,000 | $10,000 |
| $2,000,000 | $18,000 |
See the full breakdown, including how the figure is calculated, on Old Second Wealth Management’s own fee page.
Registration
River Street Advisors, LLC is registered with the SEC as an investment adviser (CRD #153537, confirmed ACTIVE this session via SEC IAPD).
This is a registration confirmation only, not a fiduciary-standard verdict (a registered investment adviser can still be a dual registrant with a broker-dealer, which changes which standard applies in each capacity). For the fiduciary-standard question itself, see the fiduciary-status page for Old Second Wealth Management.
What it costs to leave
River Street Advisors, LLC’s Form ADV Part 2A states “You, or RSA, may terminate the investment advisory agreement upon 30 days written notice.” River Street Advisors, LLC names exactly one custodian in its brochure: Charles Schwab & Co.. Charles Schwab & Co., Inc.’s own published fee schedule states “Full transfer (out) of assets: $50 per account.”
The full steps are on our how to leave Old Second Wealth Management page; the general mechanics of switching financial advisors and a dated termination letter apply regardless of firm.
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- Form ADV Part 2A (March 4, 2026): https://files.adviserinfo.sec.gov/IAPD/Content/Common/crd_iapd_Brochure.aspx?BRCHR_VRSN_ID=1014367
- SEC IAPD firm summary (CRD #153537, checked September 28, 2026): https://adviserinfo.sec.gov/firm/summary/153537
Methodology. This page was built September 28, 2026, drawing directly on Old Second Wealth Management’s own current fee brochure, cited in Sources below, and a fresh SEC IAPD registration check run the same day. As of September 28, 2026, this site publishes a fiduciary-status page and a minimum-investment page for Old Second Wealth Management; where the exit-fee facts above are cited, they were independently verified against the same primary source. Any fact we could not independently confirm is named as an honest gap rather than presented as verified. Nothing here is personalized financial, tax, legal, or investment advice, and it is not a substitute for reading Old Second Wealth Management’s own Form ADV Part 2A and Form CRS. We have not used Old Second Wealth Management as a client. Old Second Wealth Management did not pay for, review, or influence this content. See our Editorial Policy, Corrections, Affiliate Disclosure, and Disclaimer.
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