Glen Ellyn, IL Office

North Star Investment Management Corporation serves individuals (including high-net-worth clients), pension and profit-sharing plans, trusts, estates, charitable organizations, corporations and other entities, and provides discretionary portfolio management, financial planning, family office/concierge services, and participation in wrap-fee programs. The firm also acts as investment adviser to the North Star Mutual Funds and manages roughly $2.5 billion in client assets across its advisory relationships.

The firm builds individualized investment policies from client-supplied information and typically implements them on a discretionary basis with regular account reviews; strategies disclosed in the brochure include long- and short-term equity positions, fixed income, option strategies, margin, and select use of direct indexing through Vanguard for eligible clients. North Star states a preference for allocating client assets into its own mutual funds because of perceived alignment in investment and compliance philosophy, and notes that allocations into those funds can be substantial (up to 100% in some accounts).

North Star’s operating model includes several features less common among similar team firms: it sponsors and advises multiple mutual funds that it frequently uses in client portfolios, maintains an affiliated insurance agency (North Star Benefits) and referral relationships with a bank, and provides unified managed-account reporting to other advisers (for example, the Greenrock arrangement). The brochure also discloses the firm’s role in wrap-fee programs, referral arrangements for fund investors, and the limited use of signatory authority under its family office services—arrangements the firm identifies and manages through disclosure and internal controls.