Front Barnett Associates LLC (Chicago)

Name: Front Barnett Associates LLC
Address: 70 W. Madison Street, Chicago, IL, 60602
Telephone: 312-641-9000

Front Barnett Associates LLC is a large advisory firm based in Chicago. It manages $751.23 million of regulatory assets for 611 client accounts. It has been registered with the SEC as an adviser since 2001 and has operated in the jurisdictions of Arizona, California, District of Columbia, and 9 other states.

Front Barnett Associates provides portfolio management for individuals and small businesses. It prepares financial plans for more than 250 clients. On top of advisory services, the firm doesn't engage in other business activities.

Front Barnett Associates: assets under management

The assets under management (AUM) of Front Barnett Associates LLC is $751.23 million. The firm's AUM has gone down by -65% since the beginning of its operation, and the company doesn't manage any assets belonging to foreign clients.

The firm manages $746.16 million in discretionary accounts and $5.08 million in non-discretionary accounts. On average, the discretionary accounts where all decisions are made on behalf of the client hold $1.23 million each. Non-discretionary accounts, where clients actively manage their portfolios, generally hold around $1.02 million.

Front Barnett Associates has custody of $751.23 million in cash and securities for 313 clients in total but doesn’t act as a qualified custodian.

Investments

The firm invests in exchange traded securities the most. They account for 67% of the total AUM. The second-largest asset type is investment grade corporate bonds, which make up 17% of the firm’s portfolio. Investments in investment and business development companies form 12% of the total invested assets.

Fees & Commissions

The advisory firm has a single stream of revenue. Clients pay Front Barnett Associates 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 Phillip Leroy Barnett serves?

The firm provides services to individuals, charitable organizations, high net worth individuals, corporations or other businesses, and pension and profit sharing plans. The largest group of clients of Phillip Leroy Barnett is high net worth individuals with 249 clients and $630.27 million of assets under management. Among the 8 most similar advisory firms, Front Barnett Associates has the 3rd highest percentage of high net worth individuals out of all clients.

The amount of regulatory assets under management is $744.38 million for 330 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.

Front Barnett Associates doesn't advise any private funds.

Careers at Front Barnett Associates LLC

The company employs 10 people that are either part- or full-time employees. 40 percent of the employees work as investment advisers or researchers. 3 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 doesn’t compensate employees in addition to the salary for bringing in new clients. Employees don’t receive compensation from other entities for client referrals.

Phillip Leroy Barnett has been acting as President since 1 Jun 1995. Michael Ross Macmillan joined the executive team most recently as the Cfo.

Direct owners and executive officers

Name	Entity	Date acquired	Ownership	Employer ID
Marshall Bernard Front	Chairman, president, ceo, chief compliance officer	1 May 1994	Other	1468633
Phillip Leroy Barnett	President	1 Jun 1995	Other	13026
Philip Fredrickson Lahey	Principal	1 Jan 1997	Other	4346318
Trees Front Associates Incorporated	Owner	1 Jul 1999	75% - 100%	36-3950405
Michael Ross Macmillan	Cfo	1 Aug 2015	Other	5631558

Based in Chicago

The principal office where Front Barnett Associates LLC performs its advisory services is located at 70 W. Madison Street, Chicago, IL 60602, 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 312-641-9000 or by fax 312-641-9009. The normal business hours are 8 am to 5 pm on Monday - Friday. You can find more information about the New York firm at front-barnett.com.