Zuckerman Investment Group, LLC (Chicago)

Name: Zuckerman Investment Group, LLC
Address: 155 North Wacker Drive, Chicago, IL, 60606
Telephone: 312-948-8000

Zuckerman Investment Group, LLC is a large advisory firm based in Chicago. It manages $834.28 million of regulatory assets for 880 client accounts. It has been registered with the SEC as an adviser since 2013 and has operated in the jurisdictions of Arizona, California, Florida, and 6 other states.

Zuckerman Investment Group provides financial planning services, portfolio management for individuals and small businesses, portfolio management for pooled investment vehicles, and selection of other advisers. It prepares financial plans for more than 50 clients. On top of advisory services, the firm doesn't engage in other business activities.

Zuckerman Investment Group: assets under management

The assets under management (AUM) of Zuckerman Investment Group, LLC is $834.28 million. The firm's AUM has grown by 41% since the beginning of its operation, and $1.54 million of the total AUM is attributable to clients outside of the United States.

The firm manages $812.19 million in discretionary accounts and $22.09 million in non-discretionary accounts. On average, the discretionary accounts where all decisions are made on behalf of the client hold $928.21 thousand each. Non-discretionary accounts, where clients actively manage their portfolios, generally hold around $4.42 million.

Zuckerman Investment Group has custody of $11.84 million in cash and securities for 4 clients in total but doesn’t act as a qualified custodian.

Investments

The firm invests in exchange traded securities the most. They account for 44% of the total AUM. The second-largest asset type is investment grade corporate bonds, which make up 18% of the firm’s portfolio. Investments in non-investment grade corporate bonds form 17% of the total invested assets.

Fees & Commissions

The advisory firm has a single stream of revenue. Clients pay Zuckerman Investment Group, 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 Sherwin Alvin Zuckerman serves?

The firm provides services to individuals, charitable organizations, high net worth individuals, pooled investment vehicles, corporations or other businesses, and pension and profit sharing plans. The largest group of clients of Sherwin Alvin Zuckerman is high net worth individuals with 191 clients and $658.7 million of assets under management. Among the 6 most similar advisory firms, Zuckerman Investment Group has the highest percentage of high net worth individuals out of all clients.

The amount of regulatory assets under management is $834.28 million for 520 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.

Zuckerman Investment Group doesn't advise any private funds.

Careers at Zuckerman Investment Group, LLC

The company employs 13 people that are either part- or full-time employees. 46 percent of the employees work as investment advisers or researchers. 4 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.

Sherwin Alvin Zuckerman has been acting as President since 1 Mar 2018. Kelly Lavieri Palmer joined the executive team most recently as the Chief Compliance Officer.

Direct owners and executive officers

Name	Entity	Date acquired	Ownership	Employer ID
Sherwin Alvin Zuckerman	Co-ceo & class a shareholder	1 Mar 2010	Other	860874
Daniel Ross Zuckerman	Co-ceo, class a shareholder, class b shareholder & sole trustee of ami trust #1, ami trust #2, ami trust #3	1 Mar 2010	25% - 50%	5057006
Ami Trust #1	Class b shareholder	1 Mar 2010	Other	27-6426195
Ami Trust #2	Class b shareholder	1 Mar 2010	Other	27-6426211
Ami Trust #3	Class b shareholder	1 Mar 2010	Other	27-6426236
Evan Cory Lieberman	Chief compliance officer	1 Mar 2013	Other	5386013
Christopher Robert Harvey	Investment analyst	1 Mar 2013	Other	4283983
Jeffrey David Izenman	Executive vice president	1 Jul 2013	Other	2539305
William Elliot Driscoll	Director of research	1 Apr 2015	Other	2834578
Daniel R. Zuckerman Rev. Trust	Class b unitholder	1 Jan 2018	25% - 50%	xxx-xx-xxxx
Llc Zig Holding	Manager, class a unitholder	1 Jan 2018	50% - 75%	82-3781098
Sherwin Alvin Zuckerman	Chairman	1 Mar 2018	Other	860874
Daniel Ross Zuckerman	Ceo	1 Mar 2018	Other	5057006
Kelly Lavieri Palmer	Chief compliance officer	1 Jun 2019	Other	7147243

Indirect Owners

The SEC currently registers 3 indirect owners.

Name	Entity	Date acquired	Ownership	Employer ID
Daniel Ross Zuckerman	Sole trustee	1 Feb 2010	Other	5057006
Sherwin Alvin Zuckerman	Manager	1 Jan 2018	Other	860874
Daniel R. Zuckerman Rev. Trust	Class a unitholder, class b unitholder, manager	1 Mar 2018	25% - 50%	xxx-xx-xxxx

Based in Chicago

The principal office where Zuckerman Investment Group, LLC performs its advisory services is located at 155 North Wacker Drive, 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 312-948-8000 or by fax 312-277-2988. The normal business hours are 8:30 am to 5:00 pm on Monday - Friday. You can find more information about the New York firm at zuckermaninvestmentgroup.com.