Newman & Schimel, LLC (Deerfield)

Name: Newman & Schimel, LLC
Address: 740 Waukegan Road, Deerfield, IL, 60015
Telephone: 847-317-9350

Newman & Schimel, LLC is a large advisory firm based in Deerfield. It manages $255.48 million of regulatory assets for 874 client accounts. It has been registered with the SEC as an adviser since 2007 and has operated in the jurisdictions of California, Florida, and Illinois.

Newman & Schimel 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.

Newman & Schimel: assets under management

The assets under management (AUM) of Newman & Schimel, LLC is $255.48 million. The firm's AUM has grown by 44% since the beginning of its operation, and the company doesn't manage any assets belonging to foreign clients.

The firm manages $205.09 million in discretionary accounts and $50.38 million in non-discretionary accounts. On average, the discretionary accounts where all decisions are made on behalf of the client hold $260.93 thousand each. Non-discretionary accounts, where clients actively manage their portfolios, generally hold around $572.55 thousand.

Investments

The firm invests in investment and business development companies the most. They account for 77% of the total AUM. The second-largest asset type is exchange traded securities, which make up 10% of the firm’s portfolio. Investments in cash and cash equivalents form 7% of the total invested assets.

Fees & Commissions

The advisory firm has a single stream of revenue. Clients pay Newman & Schimel, 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 Newman & Schimel serves?

The firm provides services to individuals, high net worth individuals, corporations or other businesses, and pension and profit sharing plans. The largest group of clients of Newman & Schimel is high net worth individuals with 96 clients and $178.4 million of assets under management. Among the 7 most similar advisory firms, Newman & Schimel has the 2nd lowest percentage of high net worth individuals out of all clients.

The amount of regulatory assets under management is $255.48 million for 370 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.

Newman & Schimel doesn't advise any private funds.

Careers at Newman & Schimel, LLC

The company employs 2 people that are either part- or full-time employees. 100 percent of the employees work as investment advisers or researchers. 2 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 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
Jack Lawrence Newman	Member	1 Oct 2006	50% - 75%	2514297
Bryan Jeffrey Schimel	Member/chief compliance officer	1 Oct 2006	50% - 75%	4512312

Based in Deerfield

The principal office where Newman & Schimel, LLC performs its advisory services is located at 740 Waukegan Road, Deerfield, IL 60015, 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 847-317-9350 or by fax 847-317-9399. The normal business hours are 8:00am to 4:00pm on Monday - Friday. You can find more information about the New York firm at newmanschimel.com.