Mainstreet Advisors

CRD#146615
Investment Advisor Firm

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Overview

Mainstreet Advisors operates as an advisory firm that has its headquarters in Chicago, Illinois. The company administers $11.2 billion in total assets over 1,379 client accounts, placing it among the largest investment advisory firms in the country by assets under management (AUM). It has a small team, including 24 financial advisors. Mainstreet Advisors is not a registered broker-dealer, meaning the company cannot buy and sell securities for its customers' and own accounts and instead has to go through a broker-dealer firm to do so. Securities are defined as exchangable fiscal investments like bonds, options and equities.

Mainstreet Advisors manages all of the firm's accounts in a discretionary manner. Discretionary management means that transaction choices are made by a portfolio manager without requiring the client's approval. The company manages roughly $8.1 million in assets for each account. The typical financial advisor at Mainstreet Advisors oversees about 57 client accounts, placing it towards the middle in terms of personalization.

Mainstreet Advisors's central office is located at 120 N. Lasalle Street, Chicago, Illinois 60602-2424. It is legally registered to serve investors across 17 U.S. states and territories.

Assets Under Management

$11.2 billion

Number of Advisors

24

Disclosures

No

Office Location

120 N. Lasalle Street
Chicago, IL 60602-2424

Mainstreet Advisors by the Numbers

Total Assets Under Management

$11.2 billion

National Average: $8.6 billion
Total Number of Employees

29

National Average: 64
Total Number of Accounts

1,379

National Average: 375,227
Average Account Size

$8.1 million

National Average: $23.0 thousand
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Products and Services

Mainstreet Advisors offers a variety of financial services, which can include portfolio management for individuals and small businesses, portfolio management for pooled investment vehicles, portfolio management for institutional clients and publication of newsletters. It is involved in selling products or offering services other than investment advisory services to its clients. Mainstreet Advisors is affiliated with a number of other companies in the financial services industry, including with a broker-dealer or securities dealer, banking or thrift institution, trust company, insurance company or agency and commodity pool advisor.

Core Advisor Services

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    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.

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    Market Timing Services

    This is the practice of attempting to make short-term profits on investments by buying low and selling high.

Other Services

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    Selection of Other Advisors

    This is the firm's assistance with choosing other advisors to work with who may have different specialties.

  • Offered by 3% of firms

    Publication of Periodicals

    This is the publication of various financial education materials.

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    Educational Seminars/Workshops

    This is the hosting of seminars or workshops to educate investors on financial concepts.

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Fee Structure

Financial advisory fees usually are based on which service is offered. Fees billed by the firm can consist of the following fee structures: asset-based, fixed or performance-based. The firm does not participate in a wrap fee program, in which the company offers a service bundle for a single fee.

Available

  • Offered by 69% of firms

    Percentage of Assets

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    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

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    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

Mainstreet Advisors manages money for a number of different customers. The company provides services to retail investors, high net worth investors, banking institutions, investment companies, pooled investment vehicles, pension plans, charitable organizations, state or municipal government entities, insurance companies, corporations and other. Out of its 1,379 clients, Mainstreet Advisors's largest client group is retail investors, though it also caters to one 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 is considered a "qualified purchaser" (a standard met by having at least $5 million in investments). None of the firm's accounts are represented by non-U.S. persons.

  • High-Net-Worth Individuals* - 0.07%
  • Other Individuals - 78.25%
  • Corporations - 18.49%
  • Charitable Organizations - 3.19%

* 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

Mainstreet Advisors does not have any disclosures.

Please visit its Form ADV for more details.

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