Cibc Private Wealth Advisors, Inc. (Chicago)

Name: Cibc Private Wealth Advisors, Inc.
Address: One South Wacker Drive, Chicago, IL, 60606
Telephone: 312-368-7700

Cibc Private Wealth Advisors, Inc. is a large advisory firm based in Chicago. It manages $22.36 billion of regulatory assets for 19,824 client accounts. It has been registered with the SEC as an adviser since 2018 and has operated in the jurisdictions of Alabama, Alaska, Arizona, and 48 other states.

Cibc Private Wealth Advisors 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, 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.

Cibc Private Wealth Advisors: assets under management

The assets under management (AUM) of Cibc Private Wealth Advisors, Inc. is $22.36 billion. The firm's AUM has grown by 16% since the beginning of its operation, and $26.98 million of the total AUM is attributable to clients outside of the United States.

The firm manages $20.12 billion in discretionary accounts and $2.25 billion in non-discretionary accounts. On average, the discretionary accounts where all decisions are made on behalf of the client hold $1.03 million each. Non-discretionary accounts, where clients actively manage their portfolios, generally hold around $11.12 million.

Cibc Private Wealth Advisors has custody of $22.7 billion in cash and securities for 19,824 clients in total but doesn’t act as a qualified custodian.

Investments

The firm invests in exchange traded securities the most. They account for 69% of the total AUM. The second-largest asset type is investment and business development companies, which make up 10% of the firm’s portfolio. Investments in state and local bonds form 7% of the total invested assets.

Fees & Commissions

The advisory firm has several streams of revenue. Clients pay Cibc Private Wealth Advisors, Inc. 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 Stephen John Wade serves?

The firm provides services to investment companies, charitable organizations, high net worth individuals, corporations or other businesses, and pension and profit sharing plans. The largest group of clients of Stephen John Wade is high net worth individuals with 17,222 clients and $16.23 billion of assets under management. Among the 11 most similar advisory firms, Cibc Private Wealth Advisors has the highest percentage of high net worth individuals out of all clients.

The amount of regulatory assets under management is $22.36 billion for 19,823 clients that can include trusts, estates, and 401(k) plans and IRAs of individuals and their family members. 1% of the firm’s clients are foreign persons or businesses.

Cibc Private Wealth Advisors also advises several private funds. Namely, one real estate fund and three private equity funds. The minimum investment commitment required of non-related persons is $100,000 for each fund.

Careers at Cibc Private Wealth Advisors, Inc.

The company employs 441 people that are either part- or full-time employees. 27 percent of the employees work as investment advisers or researchers. 94 employees are registered as investment adviser representatives with the state securities authorities.

There are 18 people with the role of looking for and bringing in new clients on behalf of the firm. The firm compensates employees in addition to the salary for bringing in new clients. Employees don’t receive compensation from other entities for client referrals.

Stephen John Wade has been acting as President since 1 Apr 2017. David Lazarus Donabedian has served as the Chief Investment Officer since 1 Jun 2009. Paul Carey joined the executive team most recently as the Chief Financial Officer.

Direct owners and executive officers

Name	Entity	Date acquired	Ownership	Employer ID
Kenneth John Kozanda	Director, chief administrative officer	1 Mar 2004	Other	4357366
John Sheehan Markwalter	Chairman of the board, chief executive officer	1 Mar 2004	Other	1385997
Cibc Private Wealth Group Llc	Sole shareholder	1 Mar 2004	75% - 100%	04-3173832
Gregory Brent Campbell	Sr. vice president, general counsel & secretary	1 Jan 2005	Other	2777077
Eric Brown Propper	Director and president	1 May 2006	Other	1016159
David Lazarus Donabedian	Chief investment officer	1 Jun 2009	Other	4348033
Daniel Robert Brown	Chief financial officer	1 Jan 2014	Other	5453064
Clinton Louis Ward	Chief compliance officer	1 Oct 2014	Other	4190916
Stephen John Wade	Director	1 Apr 2017	Other	2381535
Kevin J Burns	Director	1 Oct 2018	Other	6114596
Paul Carey	Chief financial officer	1 Feb 2019	Other	7091756

Indirect Owners

The SEC currently registers 3 indirect owners.

Name	Entity	Date acquired	Ownership	Employer ID
Canadian Imperial Bank Of Commerce	100% shareholder	1 Aug 2008	75% - 100%	13-1942440
Inc. Cibc World Markets	100% shareholder	1 Aug 2008	75% - 100%	75-2584063
Inc. Cibc Bancorp Usa	100% shareholder	1 Dec 2013	75% - 100%	13-3990004

Based in Chicago

The principal office where Cibc Private Wealth Advisors, Inc. performs its advisory services is located at One South Wacker Drive, Chicago, IL 60606, which is also the mailing address of the firm. An additional office of the firm is in Houston, TX. It doesn’t run an office outside of the United States.

You can reach the main office by calling the phone number 312-368-7700 or by fax 312-368-7750. The normal business hours are 8:30 a.m. to 5:00 p.m. on Monday - Friday. You can find more information about the New York firm at blubrry.com/cibcpwm_podcast.