Faron Daugs

CFP®
Wealth Advisor, Founder & CEO

Meet Faron

Faron Daugs is an award-winning Wealth Advisor, Founder & CEO based in Libertyville, Illinois with 32 years of experience in the field.

Faron decided to get into this business to increase awareness of how investors can make their money work for them and to help them achieve their financial goals. Growing up on a dairy farm in Wisconsin, he didn’t have access to the Wall Street Journal or a financial advisor to discuss the markets and financial planning. Once Faron went to college, he became intrigued with how the markets worked and the importance investing plays in building wealth.

Upon graduating with a Finance degree, financial planning was a natural fit for Faron. It allows him to work with clients in all areas of their financial life, address their concerns and present solutions. By meeting with clients regularly, Faron can benchmark their progress toward their goals and help increase their awareness in “all areas” of their financial life and how they are all connected. He really enjoys spending his days helping his clients.

Faron began his career with IDS/American Express Financial Advisors (1992), where he completed a rigorous training program and received exceptional guidance from many seasoned Financial Planners. Early in his tenure, he realized the importance of completing and earning his certification in financial planning. He enrolled and successfully completed the College of Financial Planning curriculum in 1995 and was awarded his Certified Financial Planner® designation, which he maintains with annual continuing education credits.

Realizing the importance of providing the most objective advice possible to his clients, Faron became affiliated with a broker/dealer that didn’t have any proprietary products. In the year 2000, his firm, Harrison Wallace Financial Group, Ltd [HWFG] was formed. The company is named in honor of his two grandfathers and has allowed Faron to offer quality, objective solutions when providing advice to my clients.

As the complexity of the markets and client situations increased, it was essential to have a team behind him to help support clients’ needs and issues. The partnership between HWFG and Carson Partners provides this support by connecting Faron with other experienced professionals across the country that have knowledge in all areas of financial planning. The partnership also brings institutional style money management to clients’ portfolios while offering the highest degree of transparency and accountability. All of these things allow Faron to bring more value to his clients every day.

Beyond his offices in Libertyville, IL, and Nashville, TN, Faron finds enjoyment in outdoor pursuits such as hiking, boating, skiing, and attending concerts and sports events alongside his wife, Julie. Their son Eli, graduated from the University of Tampa with a degree in Finance and he joined the firm as an Associate Wealth Advisor in 2024.

 

Qualifications

Icon/Paid Volunteer Day Created with Sketch. Experience
  • 32 years financial industry experience
  • 24 years with Harrison Wallace Financial Group
Education
  • BS in Finance from University of Wisconsin-Whitewater
2. Icon / 2. Decorative / Product / Fee Trades Copy Certifications
  • CFP®
Professional Memberships
  • Financial Planning Association
  • CEO Life - Nashville chapter
Awards
  • Five Star Wealth Manager 2020

Harrison Wallace Financial Group

728 Florsheim Drive, Suite #12
Libertyville, IL 60048
(847) 281-9898

The Five Star Wealth Manager award awarded to Faron Daugs (2020), administered by Crescendo Business Services, LLC (dba Five Star Professional), is based on 10 objective criteria. Eligibility criteria – required: 1. Credentialed as a registered investment adviser or a registered investment adviser representative; 2. Actively licensed as a registered investment adviser or as a principal of a registered investment adviser firm for a minimum of 5 years; 3. Favorable regulatory and complaint history review (As defined by Five Star Professional, the wealth manager has not; A. Been subject to a regulatory action that resulted in a license being suspended or revoked, or payment of a fine; B. Had more than a total of three settled or pending complaints filed against them and/or a total of five settled, pending, dismissed or denied complaints with any regulatory authority or Five Star Professional’s consumer complaint process. Unfavorable feedback may have been discovered through a check of complaints registered with a regulatory authority or complaints registered through Five Star Professional’s consumer complaint process; feedback may not be representative of any one clients’ experience; C. Individually contributed to a financial settlement of a customer complaint; D. Filed for personal bankruptcy within the past 11 years; E. Been terminated from a financial services firm within the past 11 years; F. Been convicted of a felony); 4. Fulfilled their firm review based on internal standards; 5. Accepting new clients. Evaluation criteria – considered: 6. One-year client retention rate; 7. Five-year client retention rate; 8. Non-institutional discretionary and/or non-discretionary client assets administered; 9. Number of client households served; 10. Education and professional designations. Wealth managers do not pay a fee to be considered or placed on the final list of Five Star Wealth Managers. Award does not evaluate quality of services provided to clients. Once awarded, wealth managers may purchase additional profile ad space or promotional products. The Five Star award is not indicative of the wealth manager’s future performance. Wealth managers may or may not use discretion in their practice and therefore may not manage their clients’ assets. The inclusion of a wealth manager on the Five Star Wealth Manager list should not be construed as an endorsement of the wealth manager by Five Star Professional or this publication. Working with a Five Star Wealth Manager or any wealth manager is no guarantee as to future investment success, nor is there any guarantee that the selected wealth managers will be awarded this accomplishment by Five Star Professional in the future. For more information on the Five Star award and the research/selection methodology, go to fivestarprofessional.com.