DFX Intelligence
RIA Intelligence
Registered investment advisers, the advisors registered through them, the capital they report, the private vehicles they run and the people who own them, as a graph with a filing date behind every number. RAUM is what the adviser filed, a move is two registration dates, and a class is a rule you can read.
SEC-registered adviser
Fort Sheridan Advisors LLC
Latest filing Aug 27, 2026
First filing on the tape Jan 11, 2012 · 47 filings
SEC status approved since Sep 9, 2009
RAUM
$1.0B
reported, Item 5.F
Discretionary
99%
of RAUM
Private clients
93%
$962M individuals and HNW
Advisors
8
registered through the firm on IAPD
RAUM per advisor
$129M
derived; firm RAUM over IAPD count
Employees
10
7 advisory (5.B.1)
Offices
0
beyond the principal office
Private funds
1
reported on Schedule D
History
47 filings and snapshots on the tape
RAUM$1.0B as of Aug 27, 2026
Jan 11, 2012$1.6B then
HNW client RAUM$873M as of Aug 27, 2026
Mar 26, 2019$185M then
State-registered IARs (5.B.3)7 as of Aug 27, 2026
Jan 11, 20120 then
Employees (5.A)10 as of Aug 27, 2026
Jan 29, 20137 then
Private funds1 as of Aug 27, 2026
Jan 11, 20122 then
RAUM +14% over the last fiscal year+36% a year over threeIARs 4 to 7
Practice profile
derived from the filing of Aug 27, 2026; every figure names its basis
Archetypes, each a printed rule
- Independent boutique · a wealth manager with no broker-dealer, bank or insurance affiliate, 2 to 25 advisors, one to three offices, no public reporting company control
- RIA with private funds · a wealth manager (private-client share at least 50 percent) that reports at least one private fund on Schedule D 7.B.(1)
- RAUM per advisor
- $129MderivedRAUM over IAPD advisors; not a book size
- Clients per advisor
- 49derivedindividual and HNW clients (5.D) over advisors
- Average HNW client
- $5.1MderivedHNW RAUM over HNW clients
- Average account
- $881,434derivedRAUM over accounts (5.F.2.f)
- Discretionary
- 99%derivedof RAUM
- Institutional
- 5.0%derivedpensions, charities, corporations, government, insurance, banks, other advisers
- Employees per advisor
- 1.3derivedItem 5.A over advisors
- Advisors per office
- 8.0derived1 offices incl. principal (1.F.5)
- RAUM growth, one year
- +14%derivedbetween the last two annual amendments
- Advisor growth, one year
- +75%derivedItem 5.B.3 between annual amendments
- Client growth, one year
- -57%derived
- Compensation
- percentage of assets, fixed fees, performance-based, commissionsreportedItem 5.E
- Advisory activities
- portfolio management for individuals, portfolio management for pooled vehicles, selection of other advisersreportedItem 5.G
- Custody
- $340M, 117 clientsreportedItem 9.A
- Ownership
- no PE, bank or public-company owner found on Schedule Aderived
- Advisor book size
- not public; not estimatedreported
Also answered yes on Form ADV
- buys or sells securities as principal to or from clients (8.A.2)
- has discretionary authority over which securities are bought or sold (8.C.1)
- receives research or other products from a broker-dealer, soft dollars (8.E)
- has custody of client cash or bank accounts (9.A.1.a)
- has custody of client securities (9.A.1.b)
- a related person has custody of client cash (9.B.1.a)
- a related person has custody of client securities (9.B.1.b)
Where the RAUM sits
Form ADV Item 5.D, latest filing
- High-net-worth individuals$873M84%
- Individuals$88.7M8.6%
- Pension and profit-sharing plans$45.1M4.4%
- Corporations and businesses$20.7M2.0%
- Charitable organizations$6.9M0.7%
- Individual clients
- 218reported
- HNW clients
- 171reported
- Pension plan clients
- 0reported
- Charitable clients
- 0reported
- Accounts
- 1,174reported
- Financial planning clients
- 0reported
- Wrap fee programs
- noreported
- Custody of client assets
- $340M for 117 clientsreported
- Compensation
- % of AUM, fixed, performance, commissionsreported
- Class basis
- private_client_share=0.93 fund_share=0.0 institutional_share=0.05 related_bd=false related_bank=false bd_reps=4.0derived
Advisors registered through the firm
8 on IAPD today, longest tenure first
| Name | Branch | Here since | In industry | Prior firms |
|---|---|---|---|---|
| Douglas Michael Purcell | Highland Park, Il | Dec 13, 2016 | 32 y | 3 |
| Stuart Carroll Loren | Highland Park, Il | Nov 14, 2018 | 11 y | 1 |
| Alissa S. Hirsh | Highland Park, Il | Nov 19, 2018 | 10 y | 1 |
| Thomas Matthew Weil | Highland Park, Il | Mar 26, 2019 | 26 y | 3 |
| Peter Martin Karmin | Highland Park, Il | Jan 4, 2024 | 17 y | 1 |
| Nicole Marie Hansen | Highland Park, Il | Oct 30, 2024 | 12 y | 0 |
| Alison Amber Wilson | Evans City, Pa | Jan 7, 2025 | 20 y | 6 |
| Richard Norris PrestonChartered Financial Consultant | Highland Park, Il | Mar 9, 2026 | 30 y | 2 |
Advisor movement
0 left, 1 joined in 12 months
net +1 in 12 months0 left in 90 days0 joined in 90 daysdeparture rate 0.0% of current headcount0 left over 36 months
Left, latest
- William Hooker Ake to Van Ake Capital LLCAug 16, 2017 · Other
Joined, latest
- Richard Norris Preston from Northwestern Mutual Wealth Management CompanyMar 9, 2026 · Other
- Alison Amber Wilson from Western International SecuritiesJan 7, 2025 · Affiliated broker-dealer or bank to independent RIA
- Peter Martin Karmin from Western International SecuritiesJan 4, 2024 · Affiliated broker-dealer or bank to independent RIA
- Thomas Matthew Weil from Western International SecuritiesMar 26, 2019 · Affiliated broker-dealer or bank to independent RIA
- Alissa S. Hirsh from Western International SecuritiesNov 19, 2018 · Affiliated broker-dealer or bank to independent RIA
- Stuart Carroll Loren from Western International SecuritiesNov 14, 2018 · Affiliated broker-dealer or bank to independent RIA
- Douglas Michael Purcell from Oppenheimer & Co. Inc.Dec 13, 2016 · Other
- William Hooker Ake from Western International SecuritiesNov 14, 2013 · Other
Teams: two or more advisors moving together within fourteen days, from one state
- 2 joined from Western International SecuritiesAug 18, 2023 · Pasadena, Ca
Private funds
8 reported on Schedule D 7.B.(1)
| Fund | Type | Gross assets | Owners | First reported |
|---|---|---|---|---|
| Cl Asymmetry Fund LPno longer reported | Hedge Fund | $20.0M | 9 | Apr 16, 2012 |
| Fort Sheridan, L.P.no longer reported | Hedge Fund | $4.2M | 7 | Feb 19, 2016 |
| The Fort Sheridan Equity (Master) Fund, Ltdno longer reported | Hedge Fund | $1.4M | 7 | Apr 16, 2012 |
| Fort Sheridan Japan Fund, Ltdno longer reported | Hedge Fund | $1.3M | 14 | Jun 25, 2012 |
| Hpo Mortgage Partners LLCno longer reported | Other Private Fund | $600,000 | 1 | Jan 11, 2012 |
| L2mg LLCno longer reported | Hedge Fund | $199,000 | 1 | Jan 11, 2012 |
| Xxxxxxxxxx Placeholder Fundno longer reported | Hedge Fund | $0 | 0 | Mar 25, 2024 |
| Xxxxx Xxxxx Placeholder Fund | $0 | 0 | Aug 27, 2026 |
Owners and control persons
Schedule A and B, latest filing
- Martin Peter Karmin · Managing Member / Chief Compliance Officercontrolsince 07/2009 · owns 75% or more
- Linda Karmin · Membersince 01/2014 · owns 5% to 10%
Related persons
Schedule D 7.A
No related person reported.
Office movement
IAPD branch city; joins and departures in 12 months
| Office | Advisors | Joined | Left | Teams out | Forming |
|---|---|---|---|---|---|
| Highland Park, Il · principal | 8 | 1 | 0 |
Offices
Schedule D 1.F, the 25 largest
No branch office listed.
ADV anomalies
2 against comparable advisers; where to look, not conclusions
- clients down average size upCombination · filing Apr 28, 2026private clients fell 20 percent or more while RAUM per client rose 30 percent or more: a move up-market or the departure of small accounts. RAUM $908,900,000 to $1,034,804,031, advisors 4 to 7, private clients 915 to 389, offices 0 to 0 (2025-03-20 to 2026-04-28)peers: independent wealth managers, $1B to $5B (1,360)
- client count collapseChange between filings · filing Apr 28, 2026individual and HNW clients (Item 5.D) moved from 915.0 to 389.0 (-57.0%) between the annual amendments of 2025-03-20 and 2026-04-28; the peer median change was +5.0% (1132 comparable advisers, 1.0th percentile of changes)peers: independent wealth managers, $1B to $5B (1,132) · 0.8% percentile
What changed
consecutive filings, newest first
- Accounts · 931 to 1,174Sep 8, 2025 to Mar 19, 2026
- Advisory employees · 5 to 7Sep 8, 2025 to Mar 19, 2026
- Corporate clients · 3 to 0Sep 8, 2025 to Mar 19, 2026
- HNW clients · 466 to 171Sep 8, 2025 to Mar 19, 2026
- Individual clients · 449 to 218Sep 8, 2025 to Mar 19, 2026
- Pension plan clients · 12 to 0Sep 8, 2025 to Mar 19, 2026
- Assets in custody · $133M to $340MSep 8, 2025 to Mar 19, 2026
- Employees · 9 to 10Sep 8, 2025 to Mar 19, 2026
- State-registered IARs · 4 to 7Sep 8, 2025 to Mar 19, 2026
- Discretionary RAUM · $909M to $1.0BSep 8, 2025 to Mar 19, 2026
- HNW RAUM · $794M to $873MSep 8, 2025 to Mar 19, 2026
- Individual RAUM · $68.0M to $88.7MSep 8, 2025 to Mar 19, 2026
- Non-discretionary RAUM · $0 to $10.7MSep 8, 2025 to Mar 19, 2026
- Pension RAUM · $46.0M to $45.1MSep 8, 2025 to Mar 19, 2026
- RAUM · $909M to $1.0BSep 8, 2025 to Mar 19, 2026
- Financial planning clients · 0 to 0Aug 28, 2025 to Sep 8, 2025
- Advisory activities · 2 to 3Jul 23, 2025 to Aug 28, 2025
- Accounts · 230 to 931Jan 6, 2025 to Mar 20, 2025
- HNW clients · 346 to 466Jan 6, 2025 to Mar 20, 2025
- Individual clients · 332 to 449Jan 6, 2025 to Mar 20, 2025
- Pension plan clients · 1 to 12Jan 6, 2025 to Mar 20, 2025
- Pooled vehicle clients · 1 to 0Jan 6, 2025 to Mar 20, 2025
- Assets in custody · $21.3M to $133MJan 6, 2025 to Mar 20, 2025
- Employees · 8 to 9Jan 6, 2025 to Mar 20, 2025
- Discretionary RAUM · $648M to $909MJan 6, 2025 to Mar 20, 2025
- HNW RAUM · $573M to $794MJan 6, 2025 to Mar 20, 2025
- Individual RAUM · $36.4M to $68.0MJan 6, 2025 to Mar 20, 2025
- Pension RAUM · $38.7M to $46.0MJan 6, 2025 to Mar 20, 2025
- Pooled vehicle RAUM · $160,000 to $0Jan 6, 2025 to Mar 20, 2025
- RAUM · $648M to $909MJan 6, 2025 to Mar 20, 2025
- Accounts · 201 to 230Jan 4, 2024 to Mar 25, 2024
- BD registered reps · 6 to 4Jan 4, 2024 to Mar 25, 2024
- HNW clients · 121 to 346Jan 4, 2024 to Mar 25, 2024
- Individual clients · 245 to 332Jan 4, 2024 to Mar 25, 2024
- Pension plan clients · 0 to 1Jan 4, 2024 to Mar 25, 2024
- Pooled vehicle clients · 0 to 1Jan 4, 2024 to Mar 25, 2024
- Employees · 7 to 8Jan 4, 2024 to Mar 25, 2024
- State-registered IARs · 6 to 4Jan 4, 2024 to Mar 25, 2024
- Private funds · unset to 1Jan 4, 2024 to Mar 25, 2024
- Discretionary RAUM · $410M to $648MJan 4, 2024 to Mar 25, 2024
Signals
5 dated events
- Fort Sheridan Advisors Llc reported RAUM $908.9M, up 40% from $647.9M (2025-01-06 to 2025-03-20)Mar 20, 2025 · RAUM change · derived
- Fort Sheridan Advisors Llc reported RAUM $647.9M, up 58% from $409.8M (2024-01-04 to 2024-03-25)Mar 25, 2024 · RAUM change · derived
- 2 advisors left Western International Securities (Pasadena, CA) for Fort Sheridan Advisors LLC on the same dayAug 18, 2023 · Team lift-out · derived
- Fort Sheridan Advisors Llc reported RAUM $443.7M, up 47% from $302.0M (2021-11-22 to 2022-03-10)Mar 10, 2022 · RAUM change · derived
- Fort Sheridan Advisors Llc reported RAUM $197.2M, up 237% from $58.4M (2018-09-04 to 2019-03-26)Mar 26, 2019 · RAUM change · derived
Across DFX
shared identifiers only, never a name match
No identifier-backed link to the venture, private equity, family office or sponsor graphs.
How to reach
public business contact points only, each with its source
- Website
- X - @StuLorenreportedpublic record, Form ADV, Sep 17, 2026
- Principal office phone
- 847-559-9700reportedpublic record, Form ADV, Aug 27, 2026
Provenance
- Form ADV
- SEC filing data 2011 to 2024 and the monthly roster 2025 onreportedadviserinfo.sec.gov
- Advisors
- IAPD individual compilation feed, dailyreportedadviserinfo.sec.gov
- Class
- Independent wealth managerderiveda rule over Items 5.D and 7.A
- RAUM per advisor
- $129Mderivedfirm RAUM over the IAPD count; not a book size
- Loaded
- Sep 14, 2026