Cresset Asset Management, LLC
Answer a few questions and
get matched with an advisor.
Learn more about Cresset Asset Management, LLC
Overview
Cresset Asset Management, LLC is a financial advisor firm located in Chicago, Illinois. The company administers $24.6 billion in assets across 2,665 accounts, placing it among the biggest investment advisory firms in the United States by assets under management (AUM). The company has a large group, including 127 financial advisors. Cresset Asset Management, LLC does not act as a registered broker-dealer, meaning the firm cannot buy and sell securities for its accounts and those of its clients and instead has to go through a broker-dealer company to do so. Securities are defined as exchangable fiscal assets such as bonds, options and equities.
Cresset Asset Management, LLC administers more than half of its client assets in a discretionary manner. Discretionary management means that buy and sell judgments are made by a portfolio manager without needing to seek client approval. The firm also manages 159 non-discretionary accounts totaling $1.8 billion in AUM. Cresset Asset Management, LLC's typical account size is $9.2 million. An average financial advisor at Cresset Asset Management, LLC administers about 21 client accounts, making it one of the more individualized financial advisor firms in the country.
Cresset Asset Management, LLC's main office is at 444 W. Lake Street, Chicago, Illinois 60606. The firm is allowed to provide services to clients across 36 U.S. states and territories.
Assets Under Management
Number of Advisors
Disclosures
Office Location
Cresset Asset Management, LLC by the Numbers
$24.6 billion
364
2,665
$9.2 million
Products and Services
Cresset Asset Management, LLC provides a variety of financial services, including financial planning services, portfolio management for individuals and small businesses, portfolio management for pooled investment vehicles, portfolio management for institutional clients, pension consulting services, selection of other advisers, educational seminars and other services. In the past financial year, the company provided financial planning services to 251-500 of its customers. The firm does sell products or offer services aside from investment advisory services to its clients. The company is affiliated with one or more other service providers in the financial services industry, including with a trust company.
Core Advisor Services
-
Offered by 31% of firms
Financial Planning Services
This is the process of planning for your financial future, including for events such as retirement, your child's college education or estate succession.
-
Offered by 46% of firms
Portfolio Management
This is the selection and management of an investment mix and portfolio strategy for individuals and small businesses.
-
Find a firm that offers this service
Market Timing Services
This is the practice of attempting to make short-term profits on investments by buying low and selling high.
Other Services
-
Offered by 20% of firms
Selection of Other Advisors
This is the firm's assistance with choosing other advisors to work with who may have different specialties.
-
Find a firm that offers this service
Publication of Periodicals
This is the publication of various financial education materials.
-
Offered by 6% of firms
Educational Seminars/Workshops
This is the hosting of seminars or workshops to educate investors on financial concepts.
Fee Structure
Financial management fees typically depend on the services provided. Fee types charged by the firm likely consist of the following fee types: asset-based, fixed or performance-based. Wrap fee programs, or the practice of bundling services for a single fee, are offered by the company.
Available
-
Offered by 69% of firms
Percentage of Assets
-
Offered by 26% of firms
Performance-based
-
Offered by 32% of firms
Fixed
Unavailable
Types of Clients
The firm manages money for a number of different customers. It works with retail investors, high net worth investors, pooled investment vehicles, charitable organizations and corporations. Out of its 2,665 clients, Cresset Asset Management, LLC's largest client type by number of accounts is high net worth investors, though it also serves 1,633 high-net-worth individuals. The SEC defines a high-net-worth individual as an individual who has at least $750,000 in AUM or a net worth of more than $1.50 million or who counts as a "qualified purchaser" (a standard met by having at least $5 million in investments). None of its clients are non-U.S. persons.
- High-Net-Worth Individuals* - 60.84%
- Other Individuals - 32.82%
- Corporations - 2.09%
- Charitable Organizations - 4.25%
* The U.S. Securities and Exchange Commission (SEC) defines a high-net-worth individual as someone who has at least $750,000 under management.
Find an advisor who will work directly with you
Sometimes a big firm may not be able to give you the one-on-one service that you need. That's where we come in to help match you with great personal financial advisors. Click here to find your advisor matches today.
Disclosures
Cresset Asset Management, LLC does not have any disclosures.
Please visit its Form ADV for more details.
Find a financial advisor near you
If you're interested in working with an advisor closer to you, we can help you find one. Click here to find your advisor matches today.
The content in this profile was updated by SmartAsset on 4/16/2023. All advisor details come from publicly available data, and we cannot guarantee the accuracy of the content. We are unable to make individual profile updates. If you want your profile removed temporarily or permanently, please contact profile-compliance@smartasset.com.
The named financial professional and firm have not reviewed, approved, or endorsed this profile and are not responsible for its accuracy. Profile content is produced by SmartAsset independently of any business relationships that might exist between SmartAsset and the named financial professional and firm. Financial professionals and firms having business relationships with SmartAsset receive no special treatment or consideration in SmartAsset’s profiles.
This profile may include a firm or advisor that has a business relationship with SmartAsset, in which SmartAsset is compensated for lead referrals. SmartAsset is not a client of the aforementioned firms or advisors. SmartAsset did not receive compensation for including any of the firms or advisors in the aforementioned profile.
This page contains links to SmartAsset’s financial advisor matching tool, which may or may not match you with the advisor or firm mentioned in this profile. The matching tool does not include all available advisors and firms and matches based on specific criteria (investable assets, geography, and willingness to work with a remote advisor).
Certified Financial Planner Board of Standards, Inc. (CFP Board) owns the certification marks CFP® and CERTIFIED FINANCIAL PLANNER™ in the United States, which it authorizes the use of by individuals who successfully complete CFP Board’s initial and ongoing certification requirements.