North Star Investment Management Corporation (Chicago)

Name: North Star Investment Management Corporation
Address: 20 N. Wacker Drive, Chicago, IL, 60606 2902
Telephone: 312-580-0900

North Star Investment Management Corporation is a large advisory firm based in Chicago. It manages $1.31 billion of regulatory assets for 2,008 client accounts. It has been registered with the SEC as an adviser since 2004 and has operated in the jurisdictions of Arizona, California, Colorado, and 21 other states.

North Star Investment Management Corporation provides financial planning services, 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, pension consulting services, and selection of other advisers. It prepares financial plans for more than 50 clients. On top of advisory services, the firm doesn't engage in other business activities.

North Star Investment Management Corporation: assets under management

The assets under management (AUM) of North Star Investment Management Corporation is $1.31 billion. The firm's AUM has grown by 1046% since the beginning of its operation, and the company doesn't manage any assets belonging to foreign clients.

The firm manages $1.23 billion in discretionary accounts and $74.45 million in non-discretionary accounts. On average, the discretionary accounts where all decisions are made on behalf of the client hold $618.25 thousand each. Non-discretionary accounts, where clients actively manage their portfolios, generally hold around $6.77 million.

North Star Investment Management Corporation has custody of $44.8 million in cash and securities for 46 clients in total but doesn’t act as a qualified custodian.

Investments

The firm invests in exchange traded securities the most. They account for 45% of the total AUM. The second-largest asset type is investment and business development companies, which make up 24% 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 North Star Investment Management Corporation for their services and products based on a percentage of assets under management, hourly charges, and fixed 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 North Star Investment Management Corporation serves?

The firm provides services to individuals, investment companies, high net worth individuals, pension and profit sharing plans, and state or municipal government entities. The largest group of clients of North Star Investment Management Corporation is high net worth individuals with 298 clients and $778.57 million of assets under management. Among the 8 most similar advisory firms, North Star Investment Management Corporation has the 4th highest percentage of high net worth individuals out of all clients.

The amount of regulatory assets under management is $1.31 billion for 2,008 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.

North Star Investment Management Corporation doesn't advise any private funds.

Careers at North Star Investment Management Corporation

The company employs 25 people that are either part- or full-time employees. 100 percent of the employees work as investment advisers or researchers. 11 employees are registered as investment adviser representatives with the state securities authorities.

There are 4 people 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
Peter David Gottlieb	Director; president	1 Aug 2001	Other	2017998
Eric Charles Kuby	Director; chief investment officer	1 Oct 2004	Other	1203246
Mary Anne Lazowski	Director of client relations	1 Mar 2006	Other	1061959
North Star Financial Services Corp.	Shareholder	1 Jun 2006	75% - 100%	61-1453180
Peter George Contos	Chief compliance officer	1 Apr 2008	Other	1329387
Peter George Contos Ii	Chief compliance officer	1 Apr 2008	Other	1329387
Bradley Eric Cohen	Portfolio manager	1 Jun 2008	Other	2918359
Peter David Gottlieb	Chief compliance officer	1 Oct 2014	Other	2017998
Andrew Eisenberg	Chief compliance officer	1 Mar 2016	Other	6525244

Indirect Owners

The SEC currently registers 9 indirect owners.

Name	Entity	Date acquired	Ownership	Employer ID
Peter David Gottlieb	Shareholder	1 Jun 2006	50% - 75%	2017998
Eric Charles Kuby	Shareholder	1 Jun 2006	25% - 50%	1203246
Sheldon Lawrence Goodman	Shareholder	1 Jun 2006	Other	225329
Peter George Contos	Shareholder	1 Jun 2006	Other	1329387
Peter George Contos Ii	Shareholder	1 Jun 2006	Other	1329387
Peter David Gottlieb	Trustee	1 Jan 2018	Other	2017998
Eric Charles Kuby	Trustee	1 Jan 2018	Other	1203246
Peter D. Gottlieb Revocable Trust U/A/D 1/21/03	Shareholder	1 Jan 2018	25% - 50%	xxx-xx-xxxx
Eric C Kuby Living Trust U/A/D 3/13/03	Shareholder	1 Jan 2018	25% - 50%	xxx-xx-xxxx

Based in Chicago

The principal office where North Star Investment Management Corporation performs its advisory services is located at 20 N. Wacker Drive, Chicago, IL 60606 2902, which is also the mailing address of the firm. An additional office of the firm is in Highland Park, IL. It doesn’t run an office outside of the United States.

You can reach the main office by calling the phone number 312-580-0900 or by fax 312-580-0901. The normal business hours are 8 a.m - 4 p.m. on Monday - Friday. You can find more information about the New York firm at nsinvest.com.