Private Vista, LLC (Oak Brook)

Name: Private Vista, LLC
Address: 2211 York Road, Oak Brook, IL, 60523
Telephone: 630-455-0600

Private Vista, LLC is a large advisory firm based in Oak Brook. It manages $1.52 billion of regulatory assets for 958 client accounts. It has been registered with the SEC as an adviser since 2016 and has operated in the jurisdictions of Arizona, California, Colorado, and 16 other states.

Private Vista provides financial planning services, portfolio management for individuals and small businesses, pension consulting services, and selection of other advisers. It prepares financial plans for more than 100 clients. On top of advisory services, the firm doesn't engage in other business activities.

Private Vista: assets under management

The assets under management (AUM) of Private Vista, LLC is $1.52 billion. The firm's AUM has grown by 26% since the beginning of its operation, and the company doesn't manage any assets belonging to foreign clients.

The firm manages $1.49 billion in discretionary accounts and $37.3 million in non-discretionary accounts. On average, the discretionary accounts where all decisions are made on behalf of the client hold $1.62 million each. Non-discretionary accounts, where clients actively manage their portfolios, generally hold around $932.47 thousand.

Private Vista has custody of $138.89 million in cash and securities for 152 clients in total but doesn’t act as a qualified custodian.

Investments

The firm invests in investment and business development companies the most. They account for 64% of the total AUM. The second-largest asset type is other assets, which make up 23% of the firm’s portfolio. Investments in exchange traded securities form 6% of the total invested assets.

Fees & Commissions

The advisory firm has several streams of revenue. Clients pay Private Vista, LLC 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 Private Vista serves?

The firm provides services to individuals, charitable organizations, high net worth individuals, corporations or other businesses, and pension and profit sharing plans. The largest group of clients of Private Vista is high net worth individuals with 387 clients and $1.19 billion of assets under management. Among the 12 most similar advisory firms, Private Vista has the highest percentage of high net worth individuals out of all clients.

The amount of regulatory assets under management is $1.52 billion for 958 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.

Private Vista doesn't advise any private funds.

Careers at Private Vista, LLC

The company employs 34 people that are either part- or full-time employees. 65 percent of the employees work as investment advisers or researchers. 22 employees are registered as investment adviser representatives with the state securities authorities.

There are 2 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.

Direct owners and executive officers

Name	Entity	Date acquired	Ownership	Employer ID
James Michael Weil	Managing member	1 Jan 1999	25% - 50%	2029089
Jeffrey Michael Toner	Managing member, chief compliance officer	1 Jan 1999	25% - 50%	1328390
Steven Ira Merdinger	Managing member	1 Jan 1999	25% - 50%	1430517
Robert Alfred Westrick	Managing member	1 Jul 2016	25% - 50%	2204177
Douglas Stewart Brown	Managing member	1 Jul 2017	Other	2817678

Based in Oak Brook

The principal office where Private Vista, LLC performs its advisory services is located at 2211 York Road, Oak Brook, IL 60523, which is also the mailing address of the firm. An additional office of the firm is in Chicago, IL. It doesn’t run an office outside of the United States.

You can reach the main office by calling the phone number 630-455-0600 or by fax 630-246-3162. The normal business hours are 8:30am to 5:00pm on Monday - Friday. You can find more information about the New York firm at myprivatevista.com.