Urban Financial Advisory Corp (Chicago)

Name: Urban Financial Advisory Corp
Address: 221 N. La Salle St., Chicago, IL, 60601
Telephone: 312-379-0150

Urban Financial Advisory Corp is a large advisory firm based in Chicago. It manages $870.66 million of regulatory assets for 709 client accounts. It has been registered with the SEC as an adviser since 2001 and has operated in the jurisdiction of Illinois.

Urban Financial Advisory Corp provides financial planning services, portfolio management for individuals and small businesses, and portfolio management for businesses and institutional clients. It prepares financial plans for more than 25 clients. On top of advisory services, the firm doesn't engage in other business activities.

Urban Financial Advisory Corp: assets under management

The assets under management (AUM) of Urban Financial Advisory Corp is $870.66 million. The firm's AUM has grown by 328% since the beginning of its operation, and the company doesn't manage any assets belonging to foreign clients.

The firm manages $788.05 million in discretionary accounts and $82.61 million in non-discretionary accounts. On average, the discretionary accounts where all decisions are made on behalf of the client hold $1.35 million each. Non-discretionary accounts, where clients actively manage their portfolios, generally hold around $666.24 thousand.

Investments

The firm invests in investment and business development companies the most. They account for 64% of the total AUM. The second-largest asset type is exchange traded securities, which make up 16% of the firm’s portfolio. Investments in cash and cash equivalents form 8% of the total invested assets.

Fees & Commissions

The advisory firm has several streams of revenue. Clients pay Urban Financial Advisory Corp for their services and products based on a percentage of assets under management, hourly charges, and fixed fees. Flat-fee based compensation is the most transparent and the one you can safely predict in advance. These fees don’t include brokerage commissions, interest, taxes, and other account expenses.

What kind of clients Steven Douglas Urban serves?

The firm provides services to individuals, charitable organizations, and high net worth individuals. The largest group of clients of Steven Douglas Urban is high net worth individuals with 138 clients and $850.22 million of assets under management. Among the 10 most similar advisory firms, Urban Financial Advisory Corp has the highest percentage of high net worth individuals out of all clients.

The amount of regulatory assets under management is $870.66 million for 212 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.

Urban Financial Advisory Corp doesn't advise any private funds.

Careers at Urban Financial Advisory Corp

The company employs 12 people that are either part- or full-time employees. 83 percent of the employees work as investment advisers or researchers. Only one employee is registered as an investment adviser representative 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.

Steven Douglas Urban has been acting as President since 1 Feb 1990. Steven Urban joined the executive team most recently as the President.

Direct owners and executive officers

Name	Entity	Date acquired	Ownership	Employer ID
Steven Douglas Urban	President/chief compliance officer	1 Feb 1990	75% - 100%	2349888
Steven Urban	President	1 Feb 1990	75% - 100%	2349888

Based in Chicago

The principal office where Urban Financial Advisory Corp performs its advisory services is located at 221 N. La Salle St., Chicago, IL 60601, 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 312-379-0150 or by fax 312-379-0366. The normal business hours are 9 a.m. to 5 p.m. on Monday - Friday. You can find more information about the New York firm at ufinadv.com.