Heartland Advisors, Inc. (Milwaukee)
Heartland Advisors, Inc. is a large advisory firm based in Milwaukee. It manages $1.35 billion of regulatory assets for 138 client accounts. It has been registered with the SEC as an adviser since 2001 and has operated in the jurisdictions of California, Florida, Illinois, and 12 other states.
Heartland Advisors provides portfolio management for individuals and small businesses, portfolio management for investment companies, and portfolio management for businesses and institutional clients. It doesn't provide financial planning services to its clients. On top of advisory services, the firm doesn't engage in other business activities.
Heartland Advisors: assets under management
The assets under management (AUM) of Heartland Advisors, Inc. is $1.35 billion, all of which is managed in discretionary accounts. The firm's AUM has gone down by -22% since the beginning of its operation, and the company doesn't manage any assets belonging to foreign clients.
Investments
The firm invests in exchange traded securities the most. They account for 91% of the total AUM. The second-largest asset type is investment and business development companies, which make up 5% of the firm’s portfolio. Investments in cash and cash equivalents form 4% of the total invested assets.Fees & Commissions
The advisory firm has a single stream of revenue. Clients pay Heartland Advisors, Inc. 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 Heartland Advisors serves?
The firm provides services to individuals, investment companies, high net worth individuals, corporations or other businesses, and pension and profit sharing plans. The largest group of clients of Heartland Advisors is investment companies with 4 clients and $1.15 billion of assets under management. Among the 11 most similar advisory firms, Heartland Advisors has the 2nd highest percentage of investment companies out of all clients.
The amount of regulatory assets under management is $1.32 billion for 134 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.
Heartland Advisors doesn't advise any private funds.
Careers at Heartland Advisors, Inc.
The company employs 28 people that are either part- or full-time employees. 43 percent of the employees work as investment advisers or researchers. 15 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.
Direct owners and executive officers
Indirect Owners
The SEC currently registers 1 indirect owner.Based in Milwaukee
The principal office where Heartland Advisors, Inc. performs its advisory services is located at 789 N Water Street Suite 500, Milwaukee, WI 53202, 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 414-347-7777 or by fax 414-347-1339. The normal business hours are 8:00 a.m. - 5:00 p.m. on Monday - Friday. You can find more information about the New York firm at heartlandfunds.com.
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