Bernardi Asset Management, LLC (Chicago)

Bernardi Asset Management, LLC is a large advisory firm based in Chicago. It manages $175.96 million of regulatory assets for 123 client accounts. It has been registered with the SEC as an adviser since 2007 and has operated in the jurisdictions of Florida, Illinois, Louisiana, Texas, and Wisconsin.

Bernardi Asset Management provides portfolio management for individuals and small businesses and portfolio management for businesses and institutional clients. It doesn't provide financial planning services to its clients. On top of advisory services, the firm doesn't engage in other business activities.

Bernardi Asset Management: assets under management

The assets under management (AUM) of Bernardi Asset Management, LLC is $175.96 million. The firm's AUM has grown by 256% since the beginning of its operation, and the company doesn't manage any assets belonging to foreign clients.

The firm manages $144.43 million in discretionary accounts and $31.53 million in non-discretionary accounts. On average, the discretionary accounts where all decisions are made on behalf of the client hold $1.31 million each. Non-discretionary accounts, where clients actively manage their portfolios, generally hold around $2.43 million.

Bernardi Asset Management has custody of $5.56 million in cash and securities for 1 client in total but doesn’t act as a qualified custodian.

Investments

The firm invests in state and local bonds the most. They account for 78% of the total AUM. The second-largest asset type is cash and cash equivalents, which make up 11% of the firm’s portfolio. Investments in investment grade corporate bonds form 4% of the total invested assets.

Fees & Commissions

The advisory firm has a single stream of revenue. Clients pay Bernardi Asset Management, LLC for their services and products based on a percentage of assets under management. 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 Bernardi Asset Management serves?

The firm provides services to individuals and high net worth individuals. The largest group of clients of Bernardi Asset Management is high net worth individuals with 31 clients and $97.4 million of assets under management. Among the 9 most similar advisory firms, Bernardi Asset Management has the 4th highest percentage of high net worth individuals out of all clients.

The amount of regulatory assets under management is $101.01 million for 59 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.

Bernardi Asset Management doesn't advise any private funds.

Careers at Bernardi Asset Management, LLC

The company employs 11 people that are either part- or full-time employees. 91 percent of the employees work as investment advisers or researchers. 10 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
Inc. Bernardi Securities	Managing member	1 Feb 2000	75% - 100%	15834
Ronald Piacentini Bernardi	Manager	1 Feb 2000	Other	726070
Michelle Bernardi Landis	Secretary	1 Feb 2000	Other	1328867
Eric Arthur Bederman	Operations officer/chief compliance officer	1 Feb 2000	Other	2074318
Edward Bernardi	Portfolio manager	1 Feb 2000	Other	19817
Thomas P Bernardi	Portfolio manager	1 May 2015	Other	6419579
Barry Craig Stark	Chief compliance officer	1 Jun 2016	Other	2704020

Indirect Owners

The SEC currently registers 1 indirect owner.

Name	Entity	Date acquired	Ownership	Employer ID
Ronald Piacentini Bernardi	President & ceo	1 Sep 1984	50% - 75%	726070

Based in Chicago

The principal office where Bernardi Asset Management, LLC performs its advisory services is located at 20 S. Clark St. Suite 2700, Chicago, IL 60603, which is also the mailing address of the firm. It doesn’t run an office outside of the United States.

You can reach the main office by calling the phone number 312-281-2021 or by fax 312-726-1431. The normal business hours are 8:00 a.m. to 5:00 p.m. on Monday - Friday.