River Street Advisors provides financial planning, portfolio management for individuals and small businesses, portfolio management for institutions, estate planning, insurance, and tax planning. Financial planning was provided to 11–25 clients last fiscal year.
River Street Advisors reports 492 clients. They include 338 individual clients, 139 high-net-worth individuals, and 12 corporations and other businesses. Of its assets, 96.6% ($521M across 1,058 accounts) are managed with discretion; $18.4M across 23 accounts are not. Of its clients, 1% are outside the U.S.
| Client type | Clients | Assets |
|---|---|---|
| Individuals (other than HNW) | 69% | 26% |
| High-net-worth individuals | 28% | 69% |
| Charitable organizations | <1% | <1% |
| Corporations and other businesses | 2% | 5% |
Client breakdown and activity details
| Client type | Clients | Regulatory AUM | AUM share | Avg. per client |
|---|---|---|---|---|
| Individuals (other than HNW) | 338 | $140M | 26.0% | $415K |
| High-net-worth individuals | 139 | $373M | 69.1% | $2.68M |
| Charitable organizations | Fewer than 5 | $455K | 0.1% | $152K |
| Corporations and other businesses | 12 | $25.9M | 4.8% | $2.16M |
| Total | 492 | $539M | 100% | — |
- Clients
- 338
- Regulatory AUM
- $140M
- AUM share
- 26.0%
- Avg. per client
- $415K
- Clients
- 139
- Regulatory AUM
- $373M
- AUM share
- 69.1%
- Avg. per client
- $2.68M
- Clients
- Fewer than 5
- Regulatory AUM
- $455K
- AUM share
- 0.1%
- Avg. per client
- $152K
- Clients
- 12
- Regulatory AUM
- $25.9M
- AUM share
- 4.8%
- Avg. per client
- $2.16M
Total
- Clients
- 492
- Regulatory AUM
- $539M
- AUM share
- 100%
- Avg. per client
- —
- Clients outside the U.S.
- 1%
- Clients advised without assets under management last fiscal year
- 0
- Private funds advised
- 0
- Financial planning clients last fiscal year
- 11–25
River Street Advisors charges 0.50%–1.00% a year for its Portfolio Management Services. Each asset band is charged at its own rate. The fee is billed in arrears, is negotiable and has a $2,500 annual minimum. The brochure also prices one other service, listed under fee details.
| Asset band | Annual rate |
|---|---|
| $0–$1M | 1.00% |
| $1M–$2M | 0.80% |
| $2M–$5M | 0.70% |
| $5M and above | 0.50% |
Fee details and sources
Other fees
- Stand-alone financial planning
- Flat fee of $1,000, paid in advance, when planning is not included in the portfolio management fee; no prepayment over six months or above $1,200.
Old Second Bank owns 75% or more of River Street Advisors. Richard Gartelmann is CEO; the leadership team includes Chief Investment Officer Steven Meves and Chief Compliance Officer David Bach. It has 12 employees, 9 of them in advisory roles.
Leadership
Richard GartelmannChief Executive Officer- David BachChief Compliance Officer
Michael CavaManaging Director/Senior Portfolio Manager- Bradley JohnsonManaging Director/Senior Portfolio Manager
Steven MevesManaging Director/Chief Investment Officer
Jacqueline RunnbergManaging Director/Wealth Advisor
Investment adviser representatives
10 representatives listed in the SEC register as of 9 October 2026.
Staff
- 12 employees
- 9 in advisory functions
- 10 state-registered reps
- Owns 75% or more of River Street Advisors, LLC
Old Second Bank
Control person · since April 2010
River Street Advisors’ regulatory assets grew 3.8× from $142M (June 2021) to $539M (June 2026); clients rose from 253 to 492 and employees were 12 in both filings.
Figures from each annual filing
| Filed | Regulatory AUM | Clients | Employees | Offices |
|---|---|---|---|---|
| June 2026 | $539M | 492 | 12 | 5 |
| March 2025 | $415M | 435 | 12 | 5 |
| February 2024 | $316M | 375 | 12 | 5 |
| March 2023 | $205M | 325 | 12 | 5 |
| March 2022 | $186M | 305 | 11 | 3 |
| June 2021 | $142M | 253 | 12 | 4 |
Besides its headquarters, River Street Advisors has 4 offices, with 5 listed addresses in Illinois.
Illinois · 5 listed addresses
- 37 S. River Street, AuroraHQ
- 2 South York Road, Bensenville
- 200 W. John Street, North Aurora
- 20201 S. Lagrange Road, Frankfort
- 17w754 22nd Street, Oakbrook Terrace
Other business names
River Street Advisors has reported 1 other business name to the SEC.
- Old Second Wealth Management
Contact and registration details
- Legal name
- River Street Advisors, LLC
- Headquarters
- 37 S. River Street, Aurora, IL 60506
- Website
- Not reported
- Phone
- 630-906-5501
- SEC file
- 801-119750
- Founded
- 2010
- Structure
- Illinois LLC
- Fiscal year end
- December
River Street Advisors uses Charles Schwab ($539M) as custodian for its separately managed accounts. River Street Advisors does not have custody of client assets.
- Charles SchwabCharles Schwab & Co., Inc. · San Francisco, CA · $539M100%
At year end, River Street Advisors’ separately managed accounts were largely in funds (47%) and stocks (30%). Its reported 13F holdings for the quarter ended 30 June 2026 total $340M across 177 positions; the largest are Mfs Active Exchange Traded F (6.8%), Old Second Bancorp Inc. Del (5.4%) and iShares TR (5.1%).
What the accounts hold
- Stocks30%
- Funds47%
- Bonds6%
- U.S. government and agency bonds3%
- State and local bonds2%
- Investment grade corporate bonds1%
- Cash15%
- Other2%
- Private alternatives2%
Reported 13F holdings
- $340M
- Reported 13F value
- 177
- Positions
- 36.3%
- In the 10 largest
- +14.7%
- Value vs. prior quarter
- Mfs Active Exchange Traded F · Internatinl ETF6.8%
- Old Second Bancorp Inc. Del5.4%
- iShares TR · Core S&P Mcp ETF5.1%
- Nvidia Corporation3.5%
- SPDR Series Trust · ST Str P500etf3.1%
- Apple Inc.2.8%
- Caterpillar Inc.2.6%
- Broadcom Inc.2.5%
- Vanguard Tax-managed Fds · Van FTSE Dev Mkt2.4%
- Alphabet Inc. · Cap Stk CL A2.3%
Together, the ten largest are 36.3% of reported value.
How many clients does River Street Advisors have?
River Street Advisors has 492 clients and manages $539 million for them, as of June 2026. They include 338 individual clients, 139 high-net-worth individuals, and 12 corporations and other businesses.
Source: Form ADV Part 1A, Items 5.D and 5.F, filed 9 June 2026
What services does River Street Advisors offer?
River Street Advisors provides financial planning, portfolio management for individuals and small businesses, portfolio management for institutions, estate planning, insurance, and tax planning.
Source: Form ADV Part 1A, Item 5.G, from the SEC's 2 October 2026 data file; Part 2A brochure, Item 4
How much does River Street Advisors charge?
River Street Advisors charges 0.50%–1.00% a year for its Portfolio Management Services. Each asset band is charged at its own rate. The fee is billed in arrears, is negotiable and has a $2,500 annual minimum.
Which custodians does River Street Advisors use?
River Street Advisors’ separately managed account assets are held at Charles Schwab & Co., Inc. (San Francisco, CA), with $539M. Only custodians holding at least a tenth of those assets are named.
Source: Form ADV Part 1A, Schedule D, Section 5.K.(3), filed 9 June 2026
How many financial advisors does River Street Advisors have?
River Street Advisors has 10 investment adviser representatives registered with state securities authorities, out of 12 employees, and 9 perform investment advisory functions. None are registered representatives of a broker-dealer or licensed insurance agents.
Source: Form ADV Part 1A, Items 5.A and 5.B, from the SEC's 2 October 2026 data file
What does River Street Advisors invest in?
At the end of its last fiscal year, River Street Advisors’ separately managed accounts held 47% registered funds (mutual funds, ETFs, BDCs), 30% exchange-traded equities, 15% cash and equivalents, 3% U.S. government and agency bonds, 2% state and local bonds, 2% other and 1% investment grade corporate bonds. The 2% other category is described as: Private Alternatives.
Source: Form ADV Part 1A, Items 5.K.(1) and 7.B, from the SEC's 2 October 2026 data file
Who owns River Street Advisors?
River Street Advisors’ direct owner is Old Second Bank (75% or more).
Source: Form ADV Part 1A, Schedules A and B, filed 9 June 2026
How does River Street Advisors get paid?
River Street Advisors is paid through a percentage of assets under management and fixed fees. Its Form ADV lists no commissions or performance-based fees among how it is paid.
Source: Form ADV Part 1A, Item 5.E, from the SEC's 2 October 2026 data file
Is River Street Advisors registered with the SEC?
Yes, River Street Advisors has been registered with the SEC as an investment adviser since 9 November 2020. Its CRD number is 153537 and its SEC file number is 801-119750.
Source: Form ADV Part 1A, Item 1, filed 9 June 2026; IAPD firm record
How do I contact River Street Advisors?
River Street Advisors’ main office is at 37 S. River Street, Aurora, IL 60506. Its phone number is 630-906-5501.