Altair Advisers, LLC (Chicago)

Name: Altair Advisers, LLC
Address: 303 W. Madison St., Chicago, IL, 60606
Telephone: 312-429-3000

Altair Advisers, LLC is a large advisory firm based in Chicago. It manages $4.4 billion of regulatory assets for 701 client accounts. It has been registered with the SEC as an adviser since 2002 and has operated in the jurisdictions of California, Florida, Illinois, and 6 other states.

Altair Advisers provides financial planning services, portfolio management for investment companies, pension consulting services, selection of other advisers, and publication of newsletters. It prepares financial plans for more than 50 clients. On top of advisory services, the firm doesn't engage in other business activities.

Altair Advisers: assets under management

The assets under management (AUM) of Altair Advisers, LLC is $4.4 billion. The firm's AUM has grown by 67% since the beginning of its operation, and the company doesn't manage any assets belonging to foreign clients.

The firm manages $1.22 billion in discretionary accounts and $3.18 billion in non-discretionary accounts. On average, the discretionary accounts where all decisions are made on behalf of the client hold $3.34 million each. Non-discretionary accounts, where clients actively manage their portfolios, generally hold around $9.48 million.

Altair Advisers has custody of $3.63 billion in cash and securities for 559 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 44% of the total AUM. The second-largest asset type is exchange traded securities, which make up 37% of the firm’s portfolio. Investments in state and local bonds form 17% of the total invested assets.

Fees & Commissions

The advisory firm has several streams of revenue. Clients pay Altair Advisers, LLC for their services and products based on a percentage of assets under management, hourly charges, and fixed fees. Hourly charges are usually charged for consulting work and special projects. These fees don’t include brokerage commissions, interest, taxes, and other account expenses.

What kind of clients Steven Barry Weinstein serves?

The firm provides services to individuals, investment companies, charitable organizations, high net worth individuals, and corporations or other businesses. The largest group of clients of Steven Barry Weinstein is high net worth individuals with 250 clients and $3.2 billion of assets under management. Among the 5 most similar advisory firms, Altair Advisers has the highest percentage of high net worth individuals out of all clients.

The amount of regulatory assets under management is $4.4 billion for 700 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.

Altair Advisers doesn't advise any private funds.

Careers at Altair Advisers, LLC

The company employs 49 people that are either part- or full-time employees. 37 percent of the employees work as investment advisers or researchers. No 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 compensates employees in addition to the salary for bringing in new clients. Employees don’t receive compensation from other entities for client referrals.

Steven Barry Weinstein has been acting as President since 1 Apr 2002. Rebekah Lea Kohmescher joined the executive team most recently as the Chief Compliance Officer.

Direct owners and executive officers

Name	Entity	Date acquired	Ownership	Employer ID
Steven Barry Weinstein	President	1 Apr 2002	Other	2477854
Richard Kent Black	Member, managing director and chief compliance officer	1 Apr 2002	Other	2662741
Bryan Randall Malis	Member and managing director	1 Apr 2002	Other	1853170
Michael Christopher Walther	Member	1 Apr 2002	Other	2665663
Jason Laurie	Member	1 Apr 2002	Other	3161144
Brett K Rentmeester	Member	1 Apr 2002	Other	2631078
David J Sorota	Member	1 Apr 2002	Other	3024218
Phrm Investments Llc	Member	1 Jun 2002	25% - 50%	37-1431128
Altair Investments Llc	Member	1 Jun 2002	Other	37-1432073
Donald Joseph Sorota	Member and managing director	1 Jan 2011	Other	3024218
Jason Mark Laurie	Member and managing director	1 Jan 2011	Other	3161144
Michael James Murray	Member and managing director	1 Jan 2011	Other	2796599
Jason Michael Laurie	Member and managing director	1 Jan 2011	Other	3161144
Brett Kristian Rentmeester	Member and managing director	1 Jan 2011	Other	2631078
Rebekah Lea Kohmescher	Chief compliance officer	1 Jan 2016	Other	6709145

Indirect Owners

The SEC currently registers 16 indirect owners.

Name	Entity	Date acquired	Ownership	Employer ID
Patrick R. Hans 1998 Family Trust	Member	1 Apr 1998	75% - 100%	58-6365821
Curtis H. (Mi Only) Zahn	Trustee	1 Apr 1998	Other	4557056
Curtis H. Zahn	Trustee	1 Apr 1998	Other	4557056
Richard L. (Mi Only) Mazzolini	Member	1 May 2002	25% - 50%	4557048
Patrick R. (Mi Only) Hans	Member	1 May 2002	25% - 50%	4557050
Gayle B. (Mi Only) Hans	Member	1 May 2002	25% - 50%	4557053
Llc Bhh	Member	1 May 2002	25% - 50%	58-2381273
Richard L. Mazzolini	Member	1 May 2002	25% - 50%	4557048
Patrick R. Hans	Member	1 May 2002	25% - 50%	4557050
Gayle B. Hans	Member	1 May 2002	25% - 50%	4557053
Weinstein Gift Trust	Member	1 Jun 2002	75% - 100%	36-7386733
Frances H. Krasnow	Trustee	1 Jun 2002	Other	4557560
Sidney M. (Mi Only) Herman	Trustee	1 Jul 2010	Other	5914657
Sidney M Herman	Trustee	1 Jul 2010	Other	5914657
Alvin I. Weinstein Dynasty Trust U/A/D 10/9/14	Member	1 Jan 2015	75% - 100%	47-6623328
Alan M. Witt	Trustee	1 Jan 2015	Other	6623285

Based in Chicago

The principal office where Altair Advisers, LLC performs its advisory services is located at 303 W. Madison St., Chicago, IL 60606, 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 312-429-3000 or by fax 312-429-3029. The normal business hours are 8:30 a.m. - 5:00 p.m. on Monday - Friday. You can find more information about the New York firm at altairadvisers.com/.