Oak Family Advisors, LLC (Chicago)

Name: Oak Family Advisors, LLC
Address: 150 North Wacker Drive, Chicago, IL, 60606
Telephone: 312-373-7221

Oak Family Advisors, LLC is a large advisory firm based in Chicago. It manages $175.8 million of regulatory assets for 363 client accounts. It has been registered with the SEC as an adviser since 2011 and has operated in the jurisdictions of Illinois, Nebraska, and Texas.

Oak Family Advisors provides financial planning services and portfolio management for individuals and small businesses. It prepares financial plans for less than 10 clients. On top of advisory services, the firm doesn't engage in other business activities.

Oak Family Advisors: assets under management

The assets under management (AUM) of Oak Family Advisors, LLC is $175.8 million. The firm's AUM has gone down by -38% since the beginning of its operation, and the company doesn't manage any assets belonging to foreign clients.

The firm manages $131.4 million in discretionary accounts and $44.4 million in non-discretionary accounts. On average, the discretionary accounts where all decisions are made on behalf of the client hold $433.66 thousand each. Non-discretionary accounts, where clients actively manage their portfolios, generally hold around $740 thousand.

Investments

The firm invests in exchange traded securities the most. They account for 35% of the total AUM. The second-largest asset type is investment and business development companies, which make up 18% of the firm’s portfolio. Investments in investment grade corporate bonds form 10% of the total invested assets.

Fees & Commissions

The advisory firm has several streams of revenue. Clients pay Oak Family Advisors, LLC for their services and products based on a percentage of assets under management 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 Oak Family Advisors serves?

The firm provides services to individuals, charitable organizations, and high net worth individuals. The largest group of clients of Oak Family Advisors is high net worth individuals with 44 clients and $142.2 million of assets under management. Among the 11 most similar advisory firms, Oak Family Advisors has the highest percentage of high net worth individuals out of all clients.

The amount of regulatory assets under management is $175.8 million for 80 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.

Oak Family Advisors doesn't advise any private funds.

Careers at Oak Family Advisors, LLC

The company employs 4 people that are either part- or full-time employees. 75 percent of the employees work as investment advisers or researchers. 4 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
John Joseph Betterman	Chief executive officer / chief compliance officer	1 Jul 2006	Other	1684532
Llc Oak Family Holdings	Manager	1 Aug 2010	75% - 100%	37-1602817
Terrence Scott Wilson	Chief executive officer, co-cio	1 Dec 2011	Other	4883545
John Henry Fitzpatrick	Non-executive chairman	1 Dec 2011	75% - 100%	866553
Kathleen Ann Helminski	Chief compliance officer	1 Jan 2014	Other	6267305
Charles Melcher Sloan	President, co-cio	1 Apr 2016	Other	4295501

Indirect Owners

The SEC currently registers 1 indirect owner.

Name	Entity	Date acquired	Ownership	Employer ID
John Henry Fitzpatrick	Fitzpatrick is the sole member of oak family holdings llc which manages oak family advisors, llc	1 Aug 2010	75% - 100%	866553

Based in Chicago

The principal office where Oak Family Advisors, LLC performs its advisory services is located at 150 North Wacker Drive, Chicago, IL 60606, 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 312-373-7221 or by fax 312-212-5449. The normal business hours are 8:00 am to 5:00 pm on Monday - Friday. You can find more information about the New York firm at ofallc.com.