Perritt Capital Management Inc (Chicago)

Name: Perritt Capital Management Inc
Address: 300 S. Wacker Dr., Chicago, IL, 60606 6703
Telephone: 312-669-1650

Perritt Capital Management Inc is a large advisory firm based in Chicago. It manages $325.2 million of regulatory assets for 259 client accounts. It has been registered with the SEC as an adviser since 2001 and has operated in the jurisdictions of California, Florida, Illinois, and Texas.

Perritt Capital Management provides financial planning services, portfolio management for individuals and small businesses, portfolio management for investment companies, and pension consulting services. It prepares financial plans for less than 10 clients. On top of advisory services, the firm doesn't engage in other business activities.

Perritt Capital Management: assets under management

The assets under management (AUM) of Perritt Capital Management Inc is $325.2 million. The firm's AUM has grown by 495% since the beginning of its operation, and $605 thousand of the total AUM is attributable to clients outside of the United States.

The firm manages $323.6 million in discretionary accounts and $1.6 million in non-discretionary accounts. On average, the discretionary accounts where all decisions are made on behalf of the client hold $1.36 million each. Non-discretionary accounts, where clients actively manage their portfolios, generally hold around $76.31 thousand.

Investments

The firm invests in exchange traded securities the most. They account for 82% of the total AUM. The second-largest asset type is investment and business development companies, which make up 14% of the firm’s portfolio. Investments in cash and cash equivalents form 2% of the total invested assets.

Fees & Commissions

The advisory firm has several streams of revenue. Clients pay Perritt Capital Management Inc for their services and products based on a percentage of assets under management and fixed fees. Flat-fee based compensation is the most transparent and the one you can safely predict in advance. These fees don’t include brokerage commissions, interest, taxes, and other account expenses.

What kind of clients Michael James Corbett serves?

The firm provides services to individuals, investment companies, charitable organizations, high net worth individuals, corporations or other businesses, and pension and profit sharing plans. The largest group of clients of Michael James Corbett is investment companies with 2 clients and $171.41 million of assets under management. Among the 8 most similar advisory firms, Perritt Capital Management has the highest percentage of investment companies out of all clients.

The amount of regulatory assets under management is $325.2 million for 259 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.

Perritt Capital Management doesn't advise any private funds.

Careers at Perritt Capital Management Inc

The company employs 9 people that are either part- or full-time employees. 56 percent of the employees work as investment advisers or researchers. 6 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 compensates employees in addition to the salary for bringing in new clients. Employees don’t receive compensation from other entities for client referrals.

Michael James Corbett has been acting as President since 1 Oct 2010. Investment Information Systems Employees Trust joined the executive team most recently as the Employee Owned Trust.

Direct owners and executive officers

Name	Entity	Date acquired	Ownership	Employer ID
Investment Information Services	Owner	1 Jul 1987	75% - 100%	36-3137157
Gerald Wayne Perritt	President	1 Jul 1987	Other	1820227
Michael J Corbett	Vice president	1 Feb 1997	Other	2874844
Robert Allen Laatz	Vice president	1 Aug 1998	Other	715713
Samuel John Schulz	Vice president/chief financial officer	1 Nov 2005	Other	5225987
Lynn Eva Burmeister	Chief compliance officer	1 May 2010	Other	1080883
Allison Bradford Hearst	Secretary	1 May 2010	Other	5797637
Michael James Corbett	President	1 Oct 2010	Other	2874844
Therese Michelle Corbett	Treasurer	1 Oct 2010	Other	6236753
Gerald Wayne Perritt	Vice president	1 Oct 2010	Other	1820227
Mark J Buh	Chief financial officer	1 Jan 2012	Other	6064495
Mark J Buh	Chief financial officer and vice president	1 Feb 2012	Other	6064495
Investment Information Systems Employees Trust	Employee owned trust	1 Dec 2012	Other	12

Indirect Owners

The SEC currently registers 1 indirect owner.

Name	Entity	Date acquired	Ownership	Employer ID
Terese Vonderschmitt	Shareholder	1 Nov 1995	25% - 50%	2

Based in Chicago

The principal office where Perritt Capital Management Inc performs its advisory services is located at 300 S. Wacker Dr., Chicago, IL 60606 6703, 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 312-669-1650 or by fax 312-669-1235. The normal business hours are 8:30am - 5:00pm on Monday - Friday. You can find more information about the New York firm at windgatewealthmanagement.com and its LinkedIn profile.