Cresset Partners LLC

CRD#306449
Investment Advisor Firm

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Learn more about Cresset Partners LLC

  • Overview
  • By the Numbers
  • Fee Structure
  • Types of Clients
  • Disclosures
  • State Registrations
  • Office Locations
  • Firm Advisors

    • Overview

    Cresset Partners LLC operates as a financial advisor company that has its headquarters in Chicago, Illinois. The company has $3.6 billion in assets over 76 client accounts, placing it among the largest firms in the nation by assets under management (AUM). Cresset Partners LLC has a small group, including 2 financial advisors. Cresset Partners LLC does not act as a registered broker-dealer, meaning the advisor is not able to buy and sell securities for its own accounts as well as its customers' and instead must go through a broker-dealer firm to do so. Securities are exchangable financial assets like bonds, options and equities.

    Cresset Partners LLC oversees all of the firm's accounts in a discretionary manner. Discretionary management is a structure in which a portfolio manager has the discretion to make buy and sell choices without requiring client approval. The investment advisory firm's average account size is $47.2 million. The average advisor at Cresset Partners LLC manages about 38 client accounts, placing it towards the middle in terms of personalization.

    Cresset Partners LLC's headquarters is at 444 W. Lake Street, Chicago, Illinois 60606. It is permitted to serve clients throughout a number of states, including Connecticut, Delaware and Illinois.

    Assets Under Management

    $3.6 billion

    Number of Advisors

    2

    Disclosures

    No

    Office Location

    444 W. Lake Street
    Chicago, IL 60606

    Cresset Partners LLC by the Numbers

    Total Assets Under Management

    $3.6 billion

    National Average: $8.6 billion
    Total Number of Employees

    16

    National Average: 64
    Total Number of Accounts

    76

    National Average: 375,227
    Average Account Size

    $47.2 million

    National Average: $23.0 thousand
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    Fee Structure

    Financial advisory fees largely are based on which services are offered. Fee types charged by Cresset Partners LLC may include the following fee types: asset-based, fixed or performance-based. Cresset Partners LLC does not provide a wrap fee program, in which the company offers a bundle of services for a single fee.

    Available

    • Offered by 69% of firms

      Percentage of Assets

      Show Explanation

      This fee, which is the most common fee type charged by advisors for portfolio management, is based on the amount of assets you have under management. Also referred to as an asset-based fee, this fee typically ranges from 0.50%-2.00% of AUM annually. You'll typically pay a lower rate the more assets you have under management.

    • Offered by 26% of firms

      Performance-based

      Show Explanation

      Advisors only earn performance-based fees if a portfolio outperforms a defined benchmark. This fee may be calculated in a number of ways but most commonly is charged as a percentage of investment profits. Performance-based fees may incentivize advisors to make riskier decisions in order to generate higher returns.

    • Offered by 32% of firms

      Fixed

      Show Explanation

      Fixed fees are a one-time, lump sum charged for a specific service, like the creation of a financial plan without subsequent implementation. This can be useful if you only need advice for one specific purpose, rather than a long-term advisor. Fixed fees usually range from $1,000 to $3,000.

    Unavailable

    • Find one of the 21% of firms that offer this fee type

      Hourly

      Show Explanation

      Like a lawyer, a financial advisor may charge you by the hour. This can be helpful if you are only looking for short-term or one-time advice. Rates typically range from $100-$300 per hour, depending on the complexity and level of services needed.

    • Find one of the 1% of firms that offer this fee type

      Commissions

      Show Explanation

      Occasionally, advisors earn commissions from selling financial products, such as securities or insurance policies, or making certain referrals or transactions. Advisors who earn commissions may be incentivized to make certain recommendations to clients in order to make a commission. Fee-only advisors do not earn commissions, while fee-based advisors may.

    • Find one of the 0% of firms that offer this fee type

      Subscription

      Show Explanation

      Firms generally charge this fee for educational materials provided, such as a monthly magazine. This can be useful if you want to learn about investing or financial management on your own.

    • Find one of the 10% of firms that offer this fee type

      Other

      Show Explanation

      Firms can sometimes charge customers using non-traditional fee structures. See this firm's Form ADV for more details.

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    Types of Clients

    The firm works with pooled investment vehicles. Out of its 76 customers, Cresset Partners LLC's largest client type by number of accounts is pooled investment vehicles. None of the company's customers are non-U.S. persons.

    • High-Net-Worth Individuals* - 0%
    • Other Individuals - 0%
    • Corporations - 100%
    • Charitable Organizations - 0%

    * The U.S. Securities and Exchange Commission (SEC) defines a high-net-worth individual as someone who has at least $750,000 under management.

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    Disclosures

    Cresset Partners LLC does not have any disclosures.

    Please visit its Form ADV for more details.

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    Financial Advisors at Cresset Partners LLC

    Nicholas Parrish
    Chicago, IL

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