Wealth manager, independent · Chicago, IL
North Star Investment Management Corporation
SEC-registered investment adviser · CRD 117681 · SEC 801-62013
At a glance
North Star Investment Management Corporation is an SEC-registered investment adviser based in Chicago, Illinois, with $2.5B in regulatory assets under management as of its Form ADV filed April 14, 2026. It reports 2,536 individual clients, 513 of them high-net-worth, holding an average of about $0.8 million each, and 26 employees. That ranks it 452nd among the nation’s 5,657 independent wealth management RIAs and 23rd of 226 in Illinois. It reports 3 custodians for its clients’ separately managed accounts: Fidelity, Charles Schwab and Fidelity Distributors Company.
Main office 312-580-0900nsinvest.comLinkedInAs filed on Form ADV
- Regulatory AUM
- $2.5B
- Rank among independent wealth managers
- #452 of 5,657
- Rank among all SEC RIAs
- #3,176 of 17,210
- Rank in Illinois
- #23 of 226
- Individual clients
- 2,536
- High-net-worth clients
- 513
- Accounts
- 2,643
- Discretionary
- 97% of AUM
- Employees
- 26
- Advisory staff
- 14
- Offices
- 3
Owners and executives on its Form ADV
- Peter D. GottliebDirector; President
- Eric C. KubyDirector; Chief Investment Officer
- Bradley E. CohenPortfolio Manager
- Andrew EisenbergChief Compliance Officer
Custody and brokerage
Broker-dealer
Hybrid RIA
North Star Investment Management Corporation is a hybrid RIA: 4 of its employees are also registered representatives of a broker-dealer.
Its Form ADV brochure (filed March 2026) names Newedge Securities as the broker-dealer its advisers are registered with.
(Certain investment adviser representatives of North Star are also registered representatives of NewEdge Securities, Inc.) 2.
Who it serves
| Client type | Clients | Regulatory AUM | Share |
|---|---|---|---|
| High-net-worth individuals | 513 | $1.6B | 63% |
| Investment companies | 5 | $398M | 16% |
| Individuals | 2,023 | $366M | 15% |
| Pension and profit sharing plans | 80 | $130M | 5% |
| Charitable organizations | 22 | $21M | <1% |
Disciplinary disclosures
North Star Investment Management Corporation reports no disciplinary disclosures in Item 11 of Form ADV. Read the details on the SEC’s adviser search ↗
Services
- Financial planning
- Portfolio management for individuals and small businesses
- Portfolio management for investment companies
- Portfolio management for pooled investment vehicles
- Portfolio management for businesses and institutions
- Pension consulting
- Selecting other advisers
How it’s paid
- A percentage of assets under management
- Hourly charges
- Fixed fees
Form ADV and brochures on the SEC’s adviser search ↗nsinvest.com ↗
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The full record on North Star Investment Management Corporation
Ten years of SEC filings, its owners and contacts, and how it stacks up against its peers. Atlas members see all of it.
- Assets, accounts, clients and staff, ten years of filings
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- Growth over one, three and five years
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- Rank against 1,607 peers of its type and size
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- Owners and executives, with titles and stakes
- 4 namedLocked
- Main office, fax and compliance officer
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- Filing changes this year, with alerts
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Free while Atlas launches: create a free account and confirm your email. Every figure comes from SEC filings.
Similar-size RIAs in Illinois
All of Illinois →| Firm | Regulatory AUM | Clients |
|---|---|---|
| Capstone Financial Advisors IncDowners Grove | $2.9B | 1,068 |
| IPI Wealth Management, Inc.Decatur | $2.7B | 13,138 |
| Cozad Asset Management IncChampaign | $2.6B | 2,116 |
| Vestor Capital, LLCChicago | $2.3B | 1,197 |
| Nadler Financial Group, Inc.Deerfield | $2.2B | 1,026 |
| Zuckerman Investment GroupChicago | $2.2B | 425 |
Background
Questions
How much does North Star Investment Management Corporation manage?
North Star Investment Management Corporation reports $2.5B in regulatory assets under management across 2,643 accounts, 97% of it on a discretionary basis, on its Form ADV filed April 14, 2026.
How many clients does North Star Investment Management Corporation have?
It reports 2,536 individual clients: 513 high-net-worth individuals and 2,023 other individuals. Individuals account for about 78% of its regulatory assets.
Where is North Star Investment Management Corporation headquartered?
Its main office is in Chicago, Illinois. It reports 3 offices in total and 26 employees, 14 of whom perform investment advisory functions.
How does North Star Investment Management Corporation charge clients?
On Form ADV it lists these forms of compensation: a percentage of assets under management; hourly charges; fixed fees. Fees and minimums are set out in its Form ADV Part 2A brochure, available on the SEC’s adviser search.
What custodian does North Star Investment Management Corporation use?
It reports 3 custodians for its clients’ separately managed accounts: Fidelity, Charles Schwab and Fidelity Distributors Company. On Schedule D of its Form ADV filed April 14, 2026, it reports these amounts held: Fidelity ($1.2B); Charles Schwab ($667M); Fidelity Distributors Company ($324M). Form ADV lists only custodians holding 10% or more of separately managed account assets.
Is North Star Investment Management Corporation a hybrid RIA with a broker-dealer?
North Star Investment Management Corporation is a hybrid RIA: 4 of its employees are also registered representatives of a broker-dealer. Those representatives can also earn commissions on brokerage business through the broker-dealer, where different rules apply than for advisory accounts.
Is North Star Investment Management Corporation a fiduciary?
As an SEC-registered investment adviser, North Star Investment Management Corporation owes its advisory clients a fiduciary duty under the Investment Advisers Act of 1940, which includes duties of care and loyalty. 4 of its employees are also registered representatives of a broker-dealer, where different rules apply to brokerage recommendations.
Where these numbers come from
Every figure is North Star Investment Management Corporation’s own answer on its latest Form ADV, from the SEC’s registered-adviser list as of October 1, 2026: regulatory assets and accounts (Item 5.F), clients by type (5.D), employees (5.A and 5.B), compensation (5.E) and services (5.G). Custodians come from Schedule D 5.K(3) of its latest filing (2026-04-14), which lists those holding 10% or more of separately managed account assets and the amount at each. “Hybrid” means some employees are also registered representatives of a broker-dealer (Item 5.B(2)); affiliated broker-dealers are the related persons it lists in Item 7.A and Schedule D. Firm type comes from its own answers: broker-dealer firms are registered broker-dealers themselves (Item 6.A); private fund advisers manage mostly private funds (Item 7.B, 5.D); wealth managers manage at least half their assets for individuals (5.D). Its national rank compares it with every US-based independent wealth management RIA, the same field as The Largest RIAs. Figures are as of the firm’s last annual update, so they can lag recent deals and market moves. Regulatory AUM counts assets the firm continuously supervises and can differ from what a firm markets.
Not an endorsement or a recommendation. Before hiring any adviser, read its Form ADV Part 2A brochure and check its record on the SEC’s adviser search. How to check a financial advisor →