Park Piedmont Advisors LLC (Chicago)

Name: Park Piedmont Advisors LLC
Address: 332 South Michigan Avenue, Chicago, IL, 60604
Telephone: 312-722-6760

Park Piedmont Advisors LLC is a large advisory firm based in Chicago. It manages $689 million of regulatory assets for 1,505 client accounts. It has been registered with the SEC as an adviser since 2003 and has operated in the jurisdictions of California, Connecticut, District of Columbia, and 8 other states.

Park Piedmont Advisors provides portfolio management for individuals and small businesses. It doesn't provide financial planning services to its clients. On top of advisory services, the firm doesn't engage in other business activities.

Park Piedmont Advisors: assets under management

The assets under management (AUM) of Park Piedmont Advisors LLC is $689 million. The firm's AUM has grown by 572% since the beginning of its operation, and $1 million of the total AUM is attributable to clients outside of the United States.

The firm manages $437.57 million in discretionary accounts and $251.43 million in non-discretionary accounts. On average, the discretionary accounts where all decisions are made on behalf of the client hold $636 thousand each. Non-discretionary accounts, where clients actively manage their portfolios, generally hold around $307.75 thousand.

Park Piedmont Advisors has custody of $205 million in cash and securities for 147 clients in total but doesn’t act as a qualified custodian.

Investments

The firm invests in investment and business development companies the most. They account for 82% of the total AUM. The second-largest asset type is cash and cash equivalents, which make up 12% of the firm’s portfolio. Investments in exchange traded securities form 3% of the total invested assets.

Fees & Commissions

The advisory firm has a single stream of revenue. Clients pay Park Piedmont Advisors 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 Park Piedmont Advisors serves?

The firm provides services to individuals, high net worth individuals, and pension and profit sharing plans. The largest group of clients of Park Piedmont Advisors is high net worth individuals with 150 clients and $539.66 million of assets under management. Among the 7 most similar advisory firms, Park Piedmont Advisors has the 3rd highest percentage of high net worth individuals out of all clients.

The amount of regulatory assets under management is $687.76 million for 461 clients that can include trusts, estates, and 401(k) plans and IRAs of individuals and their family members. 1% of the firm’s clients are foreign persons or businesses.

Park Piedmont Advisors doesn't advise any private funds.

Careers at Park Piedmont Advisors LLC

The company employs 10 people that are either part- or full-time employees. 70 percent of the employees work as investment advisers or researchers. 7 employees are registered as investment adviser representatives with the state securities authorities.

There’s a single person 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.

Direct owners and executive officers

Name	Entity	Date acquired	Ownership	Employer ID
Nicholas Louis Levinson	Member	1 Oct 2003	Other	3022189
Victor Nmn Levinson	Managing member	1 Oct 2003	75% - 100%	863720
Victor Levinson	Managing member	1 Oct 2003	75% - 100%	863720
Nick Levinson	Member	1 Oct 2003	Other	3022189
Thomas Malcolm Levinson	Member/chief compliance officer	1 Dec 2014	Other	6416322
Thomas M. Levinson	Member/chief compliance officer	1 Dec 2014	Other	6416322

Based in Chicago

The principal office where Park Piedmont Advisors LLC performs its advisory services is located at 332 South Michigan Avenue, Chicago, IL 60604, which is also the mailing address of the firm. An additional office of the firm is in Springfield, NJ. It doesn’t run an office outside of the United States.

You can reach the main office by calling the phone number 312-722-6760 or by fax 312-722-6766. The normal business hours are 9:00 am to 5:00 pm on Monday - Friday. You can find more information about the New York firm at parkpiedmont.com.