Great Lakes Advisors, LLC is a large advisory firm based in Chicago. It manages $6.81 billion of regulatory assets for 2,225 client accounts. It has been registered with the SEC as an adviser since 2012 and has operated in the jurisdictions of Alabama, Alaska, Arizona, and 29 other states.
Great Lakes Advisors provides portfolio management for individuals and small businesses, portfolio management for investment companies, portfolio management for pooled investment vehicles, portfolio management for businesses and institutional clients, and selection of other advisers. It doesn't provide financial planning services to its clients. On top of advisory services, the firm doesn't engage in other business activities.
The assets under management (AUM) of Great Lakes Advisors, LLC is $6.81 billion. The firm's AUM has grown by 90% since the beginning of its operation, and $3.25 million of the total AUM is attributable to clients outside of the United States.
The advisory firm has several streams of revenue. Clients pay Great Lakes Advisors, LLC for their services and products based on a percentage of assets under management, fixed fees, and performance-based fees. Compensation based on assets under management promotes a long-term relationship between a client and the adviser and helps align mutual interests. These fees don’t include brokerage commissions, interest, taxes, and other account expenses.
The firm provides services to individuals, investment companies, charitable organizations, high net worth individuals, banking or thrift institutions, corporations or other businesses, pension and profit sharing plans, and state or municipal government entities. The largest group of clients of Great Lakes Advisors is pension and profit sharing plans with 126 clients and $2.53 billion of assets under management. Among the 9 most similar advisory firms, Great Lakes Advisors has the 2nd highest percentage of pension and profit sharing plans out of all clients.
The amount of regulatory assets under management is $5.89 billion for 1,693 clients that can include trusts, estates, and 401(k) plans and IRAs of individuals and their family members. None of the firm’s clients are foreign persons or businesses.
Great Lakes Advisors doesn't advise any private funds.
The company employs 68 people that are either part- or full-time employees. 44 percent of the employees work as investment advisers or researchers. 26 employees are registered as investment adviser representatives with the state securities authorities.
There isn’t anyone with the role of looking for and bringing in new clients on behalf of the firm. The firm doesn’t compensate employees in addition to the salary for bringing in new clients. Employees don’t receive compensation from other entities for client referrals.
The principal office where Great Lakes Advisors, LLC performs its advisory services is located at 231 S. Lasalle Street, Chicago, IL 60604 The mailing address of the firm is Po Box 750, Chicago, IL 60606 0750. An additional office of the firm is in Lake Forest, IL. It doesn’t run an office outside of the United States.
You can reach the main office by calling the phone number 312-431-1700 or by fax 312-846-9460. The normal business hours are 8:15am - 4:45pm on Monday - Friday. You can find more information about the New York firm at whummer.com.