Premier Asset Management LLC (Chicago)

Name: Premier Asset Management LLC
Address: 4311 North Ravenswood Ave, Chicago, IL, 60613
Telephone: (312) 752-4432

Premier Asset Management LLC is a large advisory firm based in Chicago. It manages $546.6 million of regulatory assets for 414 client accounts. It has been registered with the SEC as an adviser since 2004 and has operated in the jurisdictions of Florida, Illinois, Nebraska, Ohio, and Texas.

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

Premier Asset Management: assets under management

The assets under management (AUM) of Premier Asset Management LLC is $546.6 million, all of which is managed in discretionary accounts. The firm's AUM has grown by 211% since the beginning of its operation, and the company doesn't manage any assets belonging to foreign clients.

The firm manages $546.6 million in discretionary accounts. On average, the discretionary accounts where all decisions are made on behalf of the client hold $1.32 million each.

Premier Asset Management has custody of $125.75 million in cash and securities for 52 clients in total and its related person acts as a qualified custodian.

Investments

The firm invests in exchange traded securities the most. They account for 78% of the total AUM. The second-largest asset type is state and local bonds, which make up 14% of the firm’s portfolio. Investments in cash and cash equivalents form 3% of the total invested assets.

Fees & Commissions

The advisory firm has a single stream of revenue. Clients pay Premier 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 Premier Asset Management serves?

The firm provides services to charitable organizations, high net worth individuals, corporations or other businesses, pension and profit sharing plans, and state or municipal government entities. The largest group of clients of Premier Asset Management is high net worth individuals with 129 clients and $505.34 million of assets under management. Among the 9 most similar advisory firms, Premier Asset Management has the 2nd highest percentage of high net worth individuals out of all clients.

The amount of regulatory assets under management is $546.6 million for 147 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.

Premier Asset Management doesn't advise any private funds.

Careers at Premier Asset Management LLC

The company employs 12 people that are either part- or full-time employees. 75 percent of the employees work as investment advisers or researchers. 2 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.

Direct owners and executive officers

Name	Entity	Date acquired	Ownership	Employer ID
Joseph Thomas Seminetta	President, manager, chief compliance officer and chief executive officer	1 Sep 2001	Other	1330426
Inc. Pam Holdings	Member	1 Feb 2004	75% - 100%	83-0385026
Kubik Stephens & Thompson Inc. Griffin	Member	1 Feb 2004	Other	8352
Denise Marie Seminetta	Manager, secretary	1 Feb 2004	Other	1724730
David M Thompson	Manager	1 Feb 2004	Other	4063671
Joseph Thomas Seminetta	President, manager, and chief compliance officer	1 Jun 2009	25% - 50%	1330426
Denise Marie Seminetta	Chief executive officer, manager	1 Jun 2009	50% - 75%	1724730
The Denise M Seminetta Spousal Dynasty Trust (Joseph T Seminetta As Trustee)	Owner	1 Oct 2016	25% - 50%	xxx-xx-xxxx
Inc First Midwest Bancorp	Sole member	1 Feb 2017	75% - 100%	36-3161078
Sokona Bertrina Smith	Chief compliance officer	1 Mar 2017	Other	6771600

Indirect Owners

The SEC currently registers 3 indirect owners.

Name	Entity	Date acquired	Ownership	Employer ID
Gary Wayne Griffin	Shareholder-voting	1 Jul 1980	25% - 50%	229879
James Lowell Kubik	Shareholder-voting	1 Jul 1980	25% - 50%	276159
David M Thompson	Shareholder-voting	1 Jul 1980	25% - 50%	4063671

Based in Chicago

The principal office where Premier Asset Management LLC performs its advisory services is located at 4311 North Ravenswood Ave, Chicago, IL 60613, 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) 752-4432 or by fax (312) 727-0823. The normal business hours are 8:30 am to 5:00 pm on Monday - Friday. You can find more information about the New York firm at premierassetmanagement.com.