RWC for Life

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Client assets under management

$30,135,000

Clients

10% high-net-worth

Advisors

of 2 employees

Firm type

Supported

1-4 advisors or >$200M in AUM

Clients per advisor

Typical

Average account size

$310,670

About

RWC For Life provides comprehensive financial planning, targeted financial consulting, and ongoing investment management to individuals, high-net-worth individuals, and corporate entities. As of January 8, 2026 the firm reported managing about $30.2 million in discretionary assets across roughly 97 client relationships and offers both written comprehensive plans and hourly consulting engagements.

The firm creates customized portfolios and also uses model portfolios accessed through Altruist’s Model Marketplace, acting either as the primary manager or as a co-adviser to third-party investment advisers; accounts are managed on a discretionary basis with periodic rebalancing and at least annual reviews. Financial planning and consulting engagements are non-discretionary, with client objectives and any investment restrictions documented before recommendations are implemented.

Notable disclosures in the brochure include that the firm’s principal is a licensed insurance agent and owner of Steward Financial Services, Inc., and may recommend insurance products that generate separate commissions, with stated policies intended to mitigate related conflicts of interest. The firm also maintains institutional relationships with Altruist and Schwab—receiving technology, research, and other support (including Altruist support tied to maintaining certain asset thresholds)—which the brochure identifies as an economic incentive to use those custodians.

Client services

Financial planning Portfolio management Selection of other advisers

Expertise

Cash flow / budgeting College savings (529s, UTMA, etc.) General estate planning guidance General tax planning

Fee options

Fixed

$500 to $10,000 for comprehensive financial planning services, fixed fee

Percentage

0.10% to 2.00% annually (negotiable)

Project-based

$250 per hour for consulting services

Main office location

RWC for Life

2020 Calamos Court, Suite 200

Naperville IL 60563, United States

Number of offices

Most active in

Florida · Illinois · Texas

Disclosures

Business activities & affiliations

Is active or affiliated with:

Insurance agent

They sell insurance products and may earn commissions on those sales.

Accountant / CPA / tax prep

They offer tax and accounting services, typically for separate fees.

Is not active or affiliated with:

Broker-dealer / trader

They provide brokerage services and may earn transaction-based compensation in addition to advisory fees.

Bank

They're affiliated with a bank that may offer its own financial products and services.

Trust company

They provide trust and estate administration services, typically for separate fees.

Fund sponsor

They manage or sponsor investment funds and may earn management or performance-based fees if clients invest in them.

Lawyer

They provide legal services, typically billed separately.

Real estate agent

They facilitate real estate transactions and may earn commissions.

Other specialized services

They may provide services such as pension consulting or municipal advisory work, typically for separate fees.

Forms ADV

Form ADV Part 2: Client Brochure

Quick links

Facebook Website 630-393-6500

Advisors at this firm

David B

CFP®, Series 63, Series 65

Naperville, IL

RWC for Life

David Bankston is a CFP® with 26 years of industry experience. He is currently with RWC for Life and has held roles at Simplicity Wealth, LLC, FSC Securities Corp, and has operated Bankston Wealth Management, Inc. since 1999. In addition to his advisory work, he manages an accounting firm, David A Bankston CPA, LLC. RWC for Life provides comprehensive financial planning, consulting, and discretionary investment management to individuals, high-net-worth clients, and corporate entities. The firm offers customized and model portfolios with regular reviews, serving about 97 client relationships and managing approximately $30.2 million in assets.

Cash flow / budgeting College savings (529s, UTMA, etc.) General estate planning guidance General tax planning

Michael F

Series 63, Series 65

Naperville, IL

RWC for Life

Michael Fry is a financial advisor at RWC for Life with 22 years of industry experience. He holds Series 63 and Series 65 licenses and has previously worked with Simplicity Wealth, LLC and Ausdal Financial Partners. Fry is also the owner and president of Steward Financial Services, Inc., where he provides insurance, education, and consulting services. Additionally, he develops financial education materials through his venture, Dashing Upward. RWC for Life offers comprehensive financial planning, consulting, and investment management services to individuals, high-net-worth clients, and corporate entities. The firm manages discretionary portfolios and provides tailored financial plans and consulting engagements, utilizing both custom and model portfolios.

Cash flow / budgeting College savings (529s, UTMA, etc.) General estate planning guidance General tax planning

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