Overview
Firm Description
North Star Asset Management Inc. was founded in 1996. There are currently 18 employees including 9
Chartered Financial Analysts (CFA™), 2 Certified Public Accountants (CPA), 1 Certified Financial Planners
(CFP®), and 7 administrative staff. The firm is federally registered with the Securities and Exchange
Commission (SEC) as a Registered Investment Adviser.
North Star Asset Management Inc. (NSAM) provides ongoing investment advice on a discretionary/non-
discretionary basis to individual and institutional clients based on a thorough understanding of the
clients’ financial situation, individual needs, and investment objectives.
Type of Advisory Services
NSAM offers advice on the following types of investments:
• Common Stocks
• Preferred Stocks
• Mutual Funds
• Exchange-Traded Funds
• United States Government Debt Securities
• Corporate Debt Securities
• Certificates of Deposit
• Municipal Bonds
• Money Market Funds
• Option Contracts
Since client investment portfolios are generally managed on a discretionary basis, NSAM is
authorized to select the type and amount of securities to be purchased and sold without client
approval. NSAM’s discretionary authority regarding investments may be subject to certain
limitations established by the client. Any such restrictions are to be agreed upon in advance with
each client. In no case will we have authority to withdraw funds or to take possession of client
funds or securities. NSAM does not participate in any wrap fee programs.
Managed Assets
At the end of our fiscal year (12/31/21), we managed a total of $2,688,828,790 in assets on a
discretionary basis and $12,979,865 in assets on a non-discretionary basis.
Principal Owners
NSAM is entirely owned by its employees. There are no intermediate subsidiaries.
Fees & Compensation
Description:
NSAM bases its fees on a percentage of assets under management. Fees are not based on the level of capital
gains or capital appreciation. Fees may be subject
to negotiation based on account size, relationships,
security holdings, and other factors.
Fee Billing:
Investment advisory services are provided under a written advisory agreement between NSAM and its
clients. Management fees are charged at an annual rate of .60% of the market value of assets under
management at the end of each quarter. Our fees are generally subject to an annual minimum of $6,000.
You have the option of having your management fees deducted directly from your managed account/s or you
may pay fees directly to NSAM upon being invoiced.
Other Fees:
If your portfolio includes holdings of mutual funds or exchange traded funds (ETF’s), you may be charged a
fee by the fund company in addition to the management fee charged by NSAM. However, we generally invest
in low-cost funds with no front-end sales charges.
You may also incur charges such as brokerage, custodial, and other transaction fees. We will allocate
transactions to firms based on our evaluation of its execution ability, level of commission rates and the
quality of research services provided. Should you direct us to use a specific brokerage, it may eliminate our
ability to negotiate a lower commission. See Directed Brokerage – Page 10
Prepayment/Termination:
NSAM does not require prepayment of management fees. However, if requested, we will accept payment in
advance. Prepaid fees will be reimbursed on a pro-rata basis should services be discontinued.
NSAM reserves the right to terminate any investment management agreement where a client has willfully
concealed or has refused to provide pertinent information about financial situations when necessary and
appropriate. You may terminate our agreement at any time by providing written notice.
Compensation for Sales of Investment Products:
NSAM‘s compensation is solely from fees paid by clients. We do not receive commissions based on purchases
of any financial products, including insurance. No commissions, in any form, are accepted.
Performance-Based Fees & Side-by-Side Management
Not Applicable