Cresset Wealth Advisors LLC is a large advisory firm based in Chicago. It manages $3.05 billion of regulatory assets for 341 client accounts. It has been registered with the SEC as an adviser since 2017 and has operated in the jurisdictions of California, Colorado, Florida, and 3 other states.
Cresset Wealth Advisors provides financial planning services, portfolio management for individuals and small businesses, portfolio management for businesses and institutional clients, pension consulting services, selection of other advisers, and educational seminars and workshops. It prepares financial plans for less than 10 clients. On top of advisory services, the firm doesn't engage in other business activities.
The assets under management (AUM) of Cresset Wealth Advisors LLC is $3.05 billion. The firm's AUM has grown by 35201% since the beginning of its operation, and the company doesn't manage any assets belonging to foreign clients.
The advisory firm has several streams of revenue. Clients pay Cresset Wealth 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.
The only and largest group of clients of Cresset Wealth Advisors is high net worth individuals with 51 clients and $3.05 billion of assets under management. Among the 6 most similar advisory firms, Cresset Wealth Advisors has the highest percentage of high net worth individuals out of all clients.
The amount of regulatory assets under management is $3.05 billion for 51 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.
Cresset Wealth Advisors doesn't advise any private funds.
The company employs 52 people that are either part- or full-time employees. 33 percent of the employees work as investment advisers or researchers. 17 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.
Jack Alan Ablin has served as the Chief Investment Officer since 1 Mar 2018 and Douglas Patrick Regan is the Chief Executive Officer of Cresset Wealth Advisors LLC family office. Cresset Intermediate Holdco Llc joined the executive team most recently as the Managing Member/Holding Company.
The principal office where Cresset Wealth Advisors LLC performs its advisory services is located at 444 W. Lake Street, Chicago, IL 60606, which is also the mailing address of the firm. An additional office of the firm is in West Palm Beach, FL. It doesn’t run an office outside of the United States.
You can reach the main office by calling the phone number 312-429-2400. The normal business hours are 9:00am to 5:00pm on Monday - Friday. You can find more information about the New York firm at cressetwealth.com and its LinkedIn profile.