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We Treat You like Family Our roots in full-service financial planning go back decades

Forest Asset Management (FAM) is a family of professionals who help clients make intelligent decisions with their money. We are a comprehensive wealth management firm in Chicago’s nearwest suburbs. We serve individuals, families, and businesses with our deep knowledge of financial planning, tax, risk management, retirement planning, and investment advice. 

We personally commit to every client and constantly educate ourselves to stay at the top of our field. 

We manage our clients' financial lives utilizing exceptional resources and affiliations, which helps them achieve their goals. 

As a fee-only financial advisor, we accept no commissions or revenue sharing of any kind. Our loyalty is to our clients, you, and not to companies promoting their products. Your best interests are our top priority.

At Forest Asset Management, we know the financial decisions you make now will significantly affect your and your family’s future plans. We take that responsibility very seriously. We guide you through your complex financial life and help you weigh the pros and cons of your particular situation. Let’s work together to cultivate your financial growth.

Our Values


Our clients receive value-added services and solutions spanning all areas of financial planning.


Our advice is easy to understand as we break down complex problems into manageable parts.


We have deep relationships with our clients, down to knowing their children and working jointly with their other trusted advisors on their behalf.   

We noticed a need

And realized we were the solution

Financial Planning & Investment Management 

We started Forest Asset Management in 2006 because we saw a recurring issue among our CPA clients. We gave clients financial planning advice for years but lacked the means to monitor a client’s progress. Further, the brokerage industry didn’t understand the nuances tax efficient strategies play in overall wealth management. It’s not what you make but what you keep after paying taxes. We established FAM to create, implement, and monitor our clients’ investment strategies and comprehensive financial plans.

Since that time, FAM has taken root and grown beyond CPA clients. We help our clients make the most of their wealth through financial, investment, and tax advice as an independent investment advisor, Certified Public Accountant (CPA), and CERTIFIED FINANCIAL PLANNER (CFP®).

Many small business owners today rely on our firm to manage their assets and company retirement plans. We serve many high-net-worth individuals, established professionals, retirees, and younger active wealth accumulators.

We have the credentials and experience to help you in all aspects of financial planning. We are committed to our family of clients the way our clients are to theirs.

As sister and brother, we have worked together professionally for over 20 years. We have FAM as an acronym for our business name because we truly believe in family as key to our work. As you can imagine, we were both so pleased when my, JoAnn's, son Ty decided to join the firm in 2017.

We hold credentials as both Certified Public Accountants (CPA) and CERTIFIED FINANCIAL PLANNERS (CFP®). As CPA and CFP® credential holders, we are well positioned to help clients address their financial planning needs in an unbiased and knowledgeable manner. 

JoAnn May, CPA/PFS, MBA, CFP® Photo


Financial Planner
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JoAnn specializes in holistic financial planning, with an emphasis on retirement/IRA planning and utilizing tax-efficient investment strategies. She provides these services with a focus on how financial decisions play a part in her clients overall financial health.  After all, financial and physical wellbeing are related, and money stress can manifest its way into physical problems.

Prior to founding Forest Asset Management, JoAnn started her career as a Certified Public Accountant with KPMG followed by a management position at Trans Union. After years in the corporate accounting environment, JoAnn moved on to personal finance, specializing in tax-related issues at the firm Pesavento & Pesavento LTD, which is where she grew her passion for financial planning.  In 2006, JoAnn and her partner and brother, Mark Pesavento, started Forest Asset Management, to provide more in-depth financial services to their clients.

JoAnn is a CERTIFIED FINANCIAL PLANNER™ and has an MBA in Finance from DePaul University.

Her professional affiliations include the American Institute of CPAs (AICPA), Illinois CPA Society, and the Financial Planning Association (FPA). She is a Master Elite Advisor with the Ed Slott Advisor Group, an organization of financial advisors dedicated to being leaders in the IRA industry. 

JoAnn’s hobbies and interests revolve around the great outdoors including pickleball, hiking, biking, and kayaking on local rivers.

JoAnn and her husband Peter met in college and have been married since 1988. Peter owns and operates a nuts-and-bolts importer and distributor south of Chicago. Peter and JoAnn instilled a love for travel and learning about new cultures in their children, and they continue traveling together across the globe as a family.

Their son, Tyler, is a Miami University’s Farmer School of Business graduate and works with JoAnn as a Wealth Advisor at Forest Asset Management. On weekends, you can find him on the ice playing hockey at Johnny’s Ice House in West Loop or, possibly, in the kitchen whipping up a batch of his famous pickles, salsa, or Italian beef.  Ty’s cooking is the hobby that JoAnn likes most since she is often the recipient of his efforts!  

Their daughter, Julia, graduated from the College of William & Mary in Virginia and is now a fourth-year medical student at the University of Illinois College of Medicine in Chicago.  Outside of her busy school schedule, she enjoys running on the lakefront and volunteering at clinics and events around the city. She is very excited about starting her medical career as a resident in 2024.

Finally, as dedicated as JoAnn is to her family, so too is she to her FAM-ily, always putting the extra effort in for her clients’ best interests.


  • Book: This is a hard one as I love to read both fiction and non-fiction. All the Light We Cannot See by Anthony Doer and The River of Doubt by Candice Millard will not disappoint!        
  • Movie: I love a good rom com and Love Actually is the first that comes to mind.  Great soundtrack too.
  • Band: I love the old rockers, Tom Petty, Peter Gabriel, Phil Collins, Elton John, Paul McCartney.  I try to see them when they come in concert as we don’t know how long we will have them.  
  • Type of Food: I love Thai, French Bistro.  Anything with lots of flavor and vegetables.
  • Pizza Style:  Very thin, of course!
  • Quote: Ernest Hemingway on being resilient and resourceful: “Now is no time to think of what you do not have.  Think of what you can do with what there is.”  Source: The Old Man and the Sea  
  • Travel destination: Italy holds a special place in my heart.
  • Hobbies/favorite activities: Currently it is biking and pickle ball. 
  • Childhood Memory: Saturday morning jam sessions at 4511 (the home I grew up in) cleaning the house with my siblings and listening to 70s rock ‘n’ roll.  
  • Person in History: Theodore Roosevelt for his vison and passion with the National Parks.  


Mark S. Pesavento, CPA/PFS, MST, CFP® Photo

Mark S. Pesavento, CPA/PFS, MST, CFP®

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Mark S. Pesavento, CPA/PFS, MST, CFP®

With more than 40 years of experience, Mark concentrates his expertise in tax and business consulting.  A CERTIFIED FINANCIAL PLANNER (CFP®) since 1978, Mark has been coaching people on comprehensive financial planning and wealth management throughout his entire career. 

Mark and his wife Elaine started a CPA tax and accounting firm in 1976 before they merged and sold their ownership after 40 years. In 2006, Mark united with his sister, JoAnn, to build FAM into a firm that closes the gap in clients’ wealth management needs. Together, they focus on providing clients with the professional guidance and evidence-based investment solutions that help them achieve their goals. 

Mark’s personal approach to wealth management is to always treat people like family, and he is grateful to consider many clients his close personal friends. It is especially rewarding to Mark when he is able to serve the children and grandchildren of his longest-standing clients.

He has three sons - Jim, Bob and Andy.  Jim has one son and lives in Bay Area of California.  He has a Ph.D. in biophysics and teaches at Saint Mary’s College of California in Moraga.  He frequently teaches a much sought after January term course on Beer.  Bob and his wife are both CPA /MBAs living in Geneva, Switzerland.  They can be found in the winter skiing on the slopes of the Alps with the Matterhorn as an impressive backdrop.  Andy is married and living in Denver, Colorado and works in IT for the University of Colorado.  He and his wife are often climbing another mountain range, the Rocky Mountains in their spare time on weekends.      

Mark enjoys golfing, fishing, reading, traveling, and spending time outdoors at the family cottage in Fish Lake, Indiana. He also looks forward to every opportunity to spend time with his grandchild in California.

Tyler C. May Photo

Tyler C. May

Associate Wealth Advisor
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Tyler C. May

Associate Wealth Advisor 

Tyler is our newest team member at Forest.  Tyler's role is extremely client-facing. Tyler is in charge of onboarding new clients, directly assisting in client's everyday needs, monitoring account transfers, improving efficiencies, client reporting, and marketing.  In addition to this, Tyler is responsible for utilizing and administering new technology platforms in order to enhance the overall client experience.

Tyler was a student-athlete at Miami University and graduated from Miami's Farmer School of Business. At Miami, he majored in Finance, minored in Chinese, and earned a China Business Certificate.  Outside of the classroom, he played collegiate Division 1 roller hockey winning a Regional Championship and earning individual accolades.  Prior to joining FAM, he spent 3 years as a financial analyst at ConAgra Brands. Tyler’s skills, network, and experiences working for a Fortune 500 company will be integral to FAM’s future growth. Tyler has completed his Certified Financial Planning courses at DePaul University and plans to sit for the CFP exam in the near future.

In his spare time, Tyler enjoys playing hockey, golf, and stand-up paddleboarding.


  • Book: The Psychology of Money
  • Movie: Any Film by Quentin Tarantino
  • Band: Red Hot Chili Peppers
  • Type of Food: Steak and Seafood
  • Pizza Style: Thin-crust tavern style
  • Quote: “It ain’t what you don’t know that gets you into trouble. It’s what you know for sure that just ain’t so.” – Mark Twain
  • Travel Destination: Italy
  • Hobbies/Activities: Hockey, Stand-up Paddleboarding, and Golf.
  • Childhood Memory: Going to the family cottage with cousins

Life is Busy. We Help You Streamline, 

Organize & Simplify 

At Forest Asset Management, we have a very distinct, evidence-based approach to investments. We break down the financial planning process into manageable pieces so they don’t overwhelm and get ignored.

We get to know you and your family over time to understand your goals and financial situation. We start with a deep discovery meeting, followed by a series of meetings and calls. Once we have an agreed upon plan, we implement and monitor it and make necessary adjustments along the way. 

Our clients are busy professionals.  They work with us because they want to simplify and organize their financial lives in a clear transparent manner. They understand that financial planning is complex, and they want to work with someone they can trust to make the most of their hard-earned wealth.

Comprehensive Financial Planning

Customized to each of our clients

Financial Planning, Investments & Tax Planning

With our deep tax knowledge as CPAs, we at FAM understand the crucial tax consequences of our financial advice and believe effective tax planning is essential to successful financial planning.

Retirement planning and IRA distribution rules are always considered when implementing an investment strategy, especially during the spend-down years. As your investment advisors, we strive to make decisions that make the most sense to your overall long-term plan. That means planning for periods as long as 10-15 years. This forward-thinking will produce tangible wealth accumulation for families for generations to come. 


Fee-Only & Fiduciary 

We refuse to accept outside commissions for our work; only our clients pay our fees. In our industry, this reduces conflicts of interest and keeps our focus aligned with the client’s goals. Our wealth management fees are based on assets under management, commonly called AUM. We feel AUM is a good proxy for a client’s financial complexity. Though not universally true, a greater net worth generally equates to a more complex financial life. This approach aligns our interests with yours and helps to preserve our independent advice. 

Our fees are tier-based, with breakpoints at which your fees decrease on additional assets. In addition, we take a family approach to investing. Aggregating assets to determine your costs (while still managing each portfolio according to its distinct policies) enables us to provide favorable rates for your immediate family.

Employer Retirement Plans

As an employer, your retirement plan is one of the most critical benefits you offer your employees. You are providing a convenient way for them to save and “pay themselves first”. 

We review a lot of retirement plans and they have a common theme:

Participants lack the understanding of why they are saving and what their savings can grow to 20-30 years in the future.  

Participants don’t understand the impact high fees can have on their ability to save for a secure future. 

We believe participant education is one of the key factors to a successful retirement.  Through group educational meetings and one-on-one participant sessions, Forest has been able to guide participants through the industry jargon and help them make smart decisions regarding their plan assets.   

Our plan design is based on a fiduciary promise to provide a customized transparent solution to meet your needs as a business owner while still providing a cost-effective and highly desirable benefit to your employees.

Our plans have always been designed with our clients’ best interest in mind, a philosophy commonly called the “fiduciary rule.” We didn’t need a Department of Labor rule to mandate our actions. Focusing on the client, not the product, just made sense.

Contact us to learn more

Fidelity affiliation for Forest Asset Management
An Independent Member of The BAM Alliance for Forest Asset Management
TD Ameritrade affiliation for Forest Asset Management

By clicking on any of the links above you acknowledge that the links provided are solely for your convenience, and do not necessarily imply any affiliations, sponsorships or endorsements. We make no representations whatsoever regarding such third party websites. You should review the privacy policies of other websites carefully before providing any information to such sites. We are not responsible for the content or availability of third party websites, and shall not be responsible or liable for any information, opinions, advice, products or services available on or through such third party websites.

Our fee schedule is based on assets under management (AUM).

Account ValueAnnual Fee
$200,000 to $499,9991.25%
$500,000 to $999,9991.00%
$1,000,000 to $1,999,9990.90%
$2,000,000 to $2,999,9990.80%
$3,000,000 to $4,999,9990.70%
$5,000,000 or greater0.60%
Minimum Quarterly Fee$625 per quarter

For example:   

  • Clients with $700,000 in AUM will be charged 1% annually, equating to $7,000 per year, billed $1,750 each quarter.
  • Clients with $1,200,000 AUM will be charged 0.9% annually, equating to $10,800 per year, billed $2,700 each quarter. 
  • Clients with $5,500,000 AUM will be charged 0.6% annually, equating to $33,000 per year, billed $8,250 per quarter.
  • If your assets are under $200,000 but you would like to use our planning services, our quarterly minimum fee is $625.  
Q: Who do you serve?

A: We provide our services to individuals, families, businesses, trusts, partnerships, nonprofit organizations, and retirement plans that wish to pursue long-term goals based on our strategic approach to managing wealth. At Forest, we use a sophisticated financial planning method, investment management, tax efficiency, and personal relationships to help clients achieve their financial goals.

Q: Describe your broad services.
Q: You have a lot of letters at the end of your names, what do these mean?


Essentially, they mean that we have completed rigorous testing and continue attending classes and seminars yearly to keep abreast with the constant changes in personal finance and tax law.

We are both CPAs or Certified Public Accountants. To become a CPA, you must pass a rigorous 2 ½ day exam, have completed an undergraduate degree in accounting, and take at least 40 hours per year of continuing education. We are also both CFP®s, CERTIFIED FINANCIAL PLANNERS. This designation requires another 2 day examination, 3 years of financial planning experience, and 30 hours of continuing education every 2 years. Mark also has a Master's Degree from DePaul University with a concentration in Tax (MST), and JoAnn also has a Master's Degree from DePaul University with a concentration in Finance. We are both Personal Financial Specialists or PFSs, the accounting industry's equivalent of a CFP®.

Q: How do you charge for your services?

A: We provide fee-only investment management, with all fees paid by the client. We accept no commissions or revenue sharing arrangements. Our fees are based on a percentage of your assets that we manage. We feel that this approach best aligns our interests with yours, helping us meet our fiduciary obligation as a Registered Investment Advisor firm. Our fees are tier-based with breakpoints at which your fees decrease on additional assets. We take a family approach to investing, aggregating assets to determine your fees (while still managing each portfolio according to its distinct policies) so we can provide favorable rates for your immediate family. Please see our fee schedule and examples below.

Q: Do you have a minimum portfolio size?

A: Our minimum fee is $2,500 annually, charged quarterly at $625 per quarter. If your assets under management exceed $200,000, you would use our normal fee schedule. Please see our fee schedule and examples below.

Q: What are your fees?

A: Our fee schedule is based on assets under management (AUM).

Account ValueAnnual Fee
$200,000 to $499,9991.25%
$500,000 to $999,9991.00%
$1,000,000 to $1,999,9990.90%
$2,000,000 to $2,999,9990.80%
$3,000,000 to $4,999,9990.70%
$5,000,000 or greater0.60%
Minimum Account Balance$200,000
Minimum Quarterly Fee$625 per quarter

For example: Clients with $700,000 in AUM will be charged 1% annually, or $7,000 per year or $1750 per quarter. Clients with $1,200,000 AUM will be charged 0.9% annually, or $10,800 per year, or $2,700 per quarter. Clients with $5,500,000 AUM will be charged 0.6% annually, or $33,000 per year, or $8,250 per quarter.

Q: What happens to my current holdings if I become a client?

A: Before making any changes, we analyze your existing portfolio and discuss our recommendations with you. Our overall goal is for your portfolio to make sense for you and your lifetime objectives in the most cost-effective and tax-efficient way possible. We achieve this by capturing your unique willingness, ability, and need to take on market risk via appropriate, often global, diversification. We minimize investing expenses, manage the appropriate asset location between taxable and tax-sheltered accounts, and eliminate any unnecessary complexity within the collection of accounts in your portfolio. We leave existing holdings that lend themselves to these objectives in place and work with you to ensure that any transitions due to warranted changes occur as smoothly as possible. This process may be implemented over several years due to tax constraints.

Q: Do you trade and hold my assets for me?

A: While we need a Limited Power of Attorney (LPOA) to execute transactions on your behalf, you will remain in control of your assets. Accounts are held in your name at a quality custodian such as Schwab Institutional, Fidelity Investments or TIAA.

Q: Describe your investment approach.

A: We offer a prudent approach to managing your portfolio based on our fiduciary relationship with you as your trusted investment advisor. Fiduciary duty is generally considered one party's highest legal duty to another. As a Registered Investment Advisor firm, we have a legal responsibility to always act in your best interests and take that responsibility very seriously.

Our evidence-based investment approach tailors your portfolio's level of risk (and expected returns) to your preferences, goals, and circumstances. Evidence-based funds retain the benefits of indexing. They are relatively low-cost, low turnover, and tax-efficient. We adhere to the tenets of Modern Portfolio Theory and to the guidelines provided by the American Law Institute in drafting the Uniform Prudent Investor Rule. They indicate that the overwhelmingly largest determinant of portfolio performance is its asset allocation -- how your assets are exposed to various risk factors. We build portfolios accordingly, typically using low-cost institutional managers who provide evidence-based mutual funds or exchange-traded funds and diversifying globally to reduce non-market risks.

Many other firms offer an approach based on "active management," which assumes the markets are generally inefficient and allows clever individuals to regularly exploit and profit from the anomalies (beyond the costs of consistently seeking and executing such trades). However, there is overwhelming academic evidence that all market players' collective wisdom- especially in today's electronic era- results in highly efficient markets. Markets reflect fair pricing almost instantaneously upon releasing any good or bad price-related news. Our evidence-based approach heeds the academic wisdom and assumes that the opportunities to exploit inefficiencies are too few and far between to effectively and affordably pursue.

Q: What if I need a bond (fixed income) portfolio or other special holdings?

A: Our philosophy is that equity investments are for growth. Fixed-income investing has a vital mission: to control overall volatility in a portfolio and provide a stable financial base. It should offer steady, reliable income and contingency reserves. We address your fixed income needs as integral to your overall portfolio and by considering the unique needs, characteristics, and (often hidden) costs inherent in the bond market.

If a custom bond portfolio makes sense for you, we build one by analyzing each bond’s full range of characteristics (sector, maturity, credit rating, and more). Our relationship with Buckingham Strategic Partners (BSP), an affiliated entity of the Buckingham Family of Financial Services, gives access to strategic fixed-income resources and a network of local and national bond dealers that help ensure a wide range of security availability as well as fair and competitive institutional level pricing for you.

Q: You mention providing “value-added” services for clients. Can you give an example of what that means?

A: One value add that comes to mind is assisting clients with college planning. We help clients calculate how much to save, research and assist with 529 savings plans, sort through the complex tax credits, and plan ahead to take advantage of them. We help them fill out their FAFSA forms and keep them current on changes in tax law regarding education.

We do not charge to manage these accounts because, in most cases, we can find a state direct-sold plan to meet their needs and provide a tax deduction. In doing so, we leave more in the child’s account for higher education. A new client often comes to FAM with an expensive broker-sold 529 plan, and they have no idea there are lower-cost alternatives available. We help them transfer the account into their state plan to save money and receive a tax deduction. By doing so, we provide huge savings for them and their family.




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(708) 447-7086 info@forestasset.com