Michael Russo Ltd (Mokena)

Name: Michael Russo Ltd
Address: 19015 S. Jodi Rd., Suite G, Mokena, IL, 60448
Telephone: 708-478-7190

Michael Russo Ltd is a large advisory firm based in Mokena. It manages $112.07 million of regulatory assets for 989 client accounts. It has been registered with the SEC as an adviser since 2009 and has operated in the jurisdictions of Illinois, Indiana, Texas, and Wisconsin.

Michael Russo provides portfolio management for individuals and small businesses and pension consulting services. It doesn't provide financial planning services to its clients. On top of advisory services, the firm doesn't engage in other business activities.

Michael Russo: assets under management

The assets under management (AUM) of Michael Russo Ltd is $112.07 million, all of which is managed in discretionary accounts. The firm's AUM has grown by 306% since the beginning of its operation, and $205.25 thousand of the total AUM is attributable to clients outside of the United States.

The firm manages $112.07 million in discretionary accounts. On average, the discretionary accounts where all decisions are made on behalf of the client hold $113.32 thousand each.

Michael Russo has custody of $28.26 million in cash and securities for 116 clients in total but doesn’t act as a qualified custodian.

Investments

The firm invests in investment and business development companies the most. They account for 82% of the total AUM. The second-largest asset type is exchange traded securities, which make up 11% 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 Michael Russo Ltd 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 Michael Russo serves?

The firm provides services to individuals and high net worth individuals. The largest group of clients of Michael Russo is individuals with 477 clients and $91.83 million of assets under management. Among the 10 most similar advisory firms, Michael Russo has the 3rd highest percentage of individuals out of all clients.

The amount of regulatory assets under management is $112.07 million for 485 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.

Michael Russo doesn't advise any private funds.

Careers at Michael Russo Ltd

The company employs 3 people that are either part- or full-time employees. 100 percent of the employees work as investment advisers or researchers. 3 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
Michael Anthony Russo	President and chief executive officer	1 Apr 2006	75% - 100%	2353710
Steven Michael Jacobson	Chief compliance officer, chief operations officer	1 Aug 2009	Other	2685123

Based in Mokena

The principal office where Michael Russo Ltd performs its advisory services is located at 19015 S. Jodi Rd., Suite G, Mokena, IL 60448, 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 708-478-7190 or by fax 708-478-7191. The normal business hours are 8:30am - 5:00pm on Monday - Friday. You can find more information about the New York firm at ciag.us.