Great Lakes Advisors, LLC (Chicago)

Name: Great Lakes Advisors, LLC
Address: 231 S. Lasalle Street, Chicago, IL, 60604
Telephone: 312-431-1700

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.

Great Lakes Advisors: assets under management

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 firm manages $6.78 billion in discretionary accounts and $30.14 million in non-discretionary accounts. On average, the discretionary accounts where all decisions are made on behalf of the client hold $3.06 million each. Non-discretionary accounts, where clients actively manage their portfolios, generally hold around $3.35 million.

Investments

The firm invests in exchange traded securities the most. They account for 57% of the total AUM. The second-largest asset type is investment grade corporate bonds, which make up 12% of the firm’s portfolio. Investments in government bonds form 10% of the total invested assets.

Fees & Commissions

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.

What kind of clients Great Lakes Advisors serves?

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.

Careers at Great Lakes Advisors, LLC

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.

Direct owners and executive officers

Name	Entity	Date acquired	Ownership	Employer ID
Elliott Joseph Silver	Chief compliance officer	1 Oct 2004	Other	1594446
Thomas Martin Paulus	Chief financial officer	1 Mar 2007	Other	1077751
Stanley Robert Weinberger	Manager	1 Nov 2008	Other	4588175
Whamco Holding Company	Corporate parent	1 Nov 2008	75% - 100%	36-3153396
John Stoll Lillard	Manager	1 Nov 2008	Other	309614
Bert Atwater Getz	Manager	1 Nov 2008	Other	4588181
Thomas Patrick Zidar	Manager chairman	1 Nov 2008	Other	2128329
Scott Keith Heitmann	Manager	1 Nov 2008	Other	2351200
Marla Friedman Glabe	Manager	1 Oct 2009	Other	2339176
Thomas Regan Kiley	Manager & chief executive officer	1 Jul 2011	Other	1757439
Edward Joseph Calkins	Manager & sr. managing director	1 Jul 2011	Other	2577404
Stephen William Rost	Manager & sr. managing director	1 Jul 2011	Other	4377606
Timothy Allen Schlindwein	Manager	1 Jul 2011	Other	1865926
Roberta Lynn Cramer	Managing director of institutional operations	1 Jul 2011	Other	5868881
Margaret Mary Cosgrove	Manager	1 Jul 2011	Other	5765262
Croft W James	Manager	1 Jul 2012	Other	5284860
Heather Marie Ludlum	Managing director	1 Jan 2013	Other	5704995
Thomas Jason Turner	Managing director	1 Jan 2013	Other	5263045
Heather Marie Alvarado	Managing director	1 Jan 2013	Other	5704995
Jon Edward Quigley	Chief investment officer - disciplined equity	1 Oct 2013	Other	2653565
Charles Wren Dillon	Managing director - head of private wealth management	1 Jan 2014	Other	1113275
Kelly J Weller	Managing director	1 Feb 2014	Other	4586837
Paul Clayton Carlisle	Manager	1 Mar 2014	Other	6314743
Gary Alan Lenhoff	Manager & chief investment officer - fundamental equities	1 Oct 2014	Other	2441815
Chawmei Li	Senior managing director / portfolio manager	1 Jul 2015	Other	2525342
Patrick Michael Morrissey	Senior managing director / portfolio manager	1 Sep 2015	Other	1257347
Michael Paul Kamradt	Manager	1 Jan 2019	Other	1562014
Suzet Meylieu Mckinney	Manager	1 Jan 2019	Other	7069598
Celena Roldan	Manager	1 Jan 2019	Other	7069597

Indirect Owners

The SEC currently registers 1 indirect owner.

Name	Entity	Date acquired	Ownership	Employer ID
Wintrust Financial Corporation	Direct owner	1 Nov 2008	75% - 100%	36-3873352

Based in Chicago

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.