Uhlmann Investment Management provides portfolio management for individuals and small businesses and selecting other managers. Financial planning was provided to 11–25 clients last fiscal year.
Uhlmann Investment Management reports 456 clients. They include 229 individual clients and 227 high-net-worth individuals. Of its assets, 85.2% ($233M across 397 accounts) are managed with discretion; $40.3M across 63 accounts are not.
| Client type | Clients | Assets |
|---|---|---|
| Individuals (other than HNW) | 50% | 8% |
| High-net-worth individuals | 50% | 87% |
| Charitable organizations | Fewer than 5 | 4% |
| Corporations and other businesses | Fewer than 5 | <1% |
Client shares use reported counts. Client types without a reported count are excluded from that total.
Client breakdown and activity details
| Client type | Clients | Regulatory AUM | AUM share | Avg. per client |
|---|---|---|---|---|
| Individuals (other than HNW) | 229 | $23M | 8.4% | $100K |
| High-net-worth individuals | 227 | $238M | 87.2% | $1.05M |
| Charitable organizations | Fewer than 5 | $10.7M | 3.9% | — |
| Corporations and other businesses | Fewer than 5 | $1.22M | 0.4% | — |
| Total | 456 | $273M | 100% | — |
- Clients
- 229
- Regulatory AUM
- $23M
- AUM share
- 8.4%
- Avg. per client
- $100K
- Clients
- 227
- Regulatory AUM
- $238M
- AUM share
- 87.2%
- Avg. per client
- $1.05M
- Clients
- Fewer than 5
- Regulatory AUM
- $10.7M
- AUM share
- 3.9%
- Avg. per client
- —
- Clients
- Fewer than 5
- Regulatory AUM
- $1.22M
- AUM share
- 0.4%
- Avg. per client
- —
Total
- Clients
- 456
- Regulatory AUM
- $273M
- AUM share
- 100%
- Avg. per client
- —
- Clients outside the U.S.
- 0%
- Clients advised without assets under management last fiscal year
- 0
- Private funds advised
- 0
- Financial planning clients last fiscal year
- 11–25
Uhlmann Investment Management charges 1.00%–1.75% a year for its UIM Advisor Managed Portfolios. The fee is billed in advance and is negotiable.
Fee details and sources
Uhlmann Price Securities, LLC owns 75% or more of Uhlmann Investment Management and is in turn owned by Ups Holdings, L.L.C. (75% or more). The leadership team of Uhlmann Investment Management includes President James Baer. It has 11 employees, 9 of them in advisory roles.
Leadership
- James BaerPresident
- Michael DunneCCO
- Alan KonnManaging Member
Investment adviser representatives
15 representatives listed in the SEC register as of 9 October 2026.
- Vernon Kelley Armour
- James Dana Baer
- Matthew James Barbera
- Michael Coyle Dillon
- Lawrence Michael Doody
- Michael Fitzgerald Dunne
- Damian Tyler Ferguson
- Terry Michael Finkel
- Michael David Herrmann
- Alan Robert Konn
- James Patrick Kozak
- Thomas James Langer
- Samuel Matthew Liepert
- William John Lillwitz
- Maureen (NMN) Mackowski
Staff
- 11 employees
- 9 in advisory functions
- 9 state-registered reps
- 9 broker-dealer reps
- 6 insurance agents
- Owns 75% or more of Uhlmann Investment Management, L.L.C.
Uhlmann Price Securities, LLC
Control person · since December 2003
- Owns 75% or more of Uhlmann Price Securities, LLC
Ups Holdings, L.L.C.
Control person · since January 2018
- Owns 25% to 50% of Ups Holdings, L.L.C.
James Baer
Control person · since November 2017
- Owns 25% to 50% of Ups Holdings, L.L.C.
Alan Konn
Control person · since November 2017
Uhlmann Investment Management’s regulatory assets grew 1.7× from $158M (March 2021) to $273M (March 2026); clients rose from 292 to 456 and employees fell from 13 to 11.
Figures from each annual filing
| Filed | Regulatory AUM | Clients | Employees | Offices |
|---|---|---|---|---|
| March 2026 | $273M | 456 | 11 | 2 |
| March 2025 | $242M | 318 | 11 | 2 |
| March 2024 | $237M | 427 | 11 | 2 |
| June 2023 | $164M | 358 | 11 | 2 |
| March 2022 | $159M | 290 | 12 | 2 |
| March 2021 | $158M | 292 | 13 | 2 |
Besides its headquarters, Uhlmann Investment Management has 1 office, with 2 listed addresses in Illinois.
Illinois · 2 listed addresses
- 5202 Old Orchard Road, Suite 250, SkokieHQ
- 200 S. Wacker, Chicago
Contact and registration details
- Legal name
- Uhlmann Investment Management, L.L.C.
- Headquarters
- 5202 Old Orchard Road, Suite 250, Skokie, IL 60077
- Website
- Not reported
- Phone
- 312-264-4400
- SEC file
- 801-113188
- Structure
- Illinois LLC
- Fiscal year end
- December
Uhlmann Investment Management does not have custody of client assets.
At year end, Uhlmann Investment Management’s separately managed accounts were mostly in stocks (75%) and funds (19%).
What the accounts hold
- Stocks75%
- Funds19%
- Bonds1%
- Cash5%
- Other1%
- Derivatives1%
How many clients does Uhlmann Investment Management have?
Uhlmann Investment Management has 456 clients and manages $273 million for them, as of March 2026. They include 229 individual clients and 227 high-net-worth individuals.
Source: Form ADV Part 1A, Items 5.D and 5.F, filed 24 March 2026
What services does Uhlmann Investment Management offer?
Uhlmann Investment Management provides portfolio management for individuals and small businesses and selecting other managers.
Source: Form ADV Part 1A, Item 5.G, from the SEC's 2 October 2026 data file
How much does Uhlmann Investment Management charge?
Uhlmann Investment Management charges 1.00%–1.75% a year for its UIM Advisor Managed Portfolios. The fee is billed in advance and is negotiable.
Source: UHLMANN INVESTMENT MANAGEMENT ADV II 11/05/2025, filed 3 February 2026
How many financial advisors does Uhlmann Investment Management have?
Uhlmann Investment Management has 9 investment adviser representatives registered with state securities authorities, out of 11 employees, and 9 perform investment advisory functions. 9 employees are registered representatives of a broker-dealer and 6 employees are 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 Uhlmann Investment Management invest in?
At the end of its last fiscal year, Uhlmann Investment Management’s separately managed accounts held 75% exchange-traded equities, 19% registered funds (mutual funds, ETFs, BDCs), 5% cash and equivalents, 1% U.S. government and agency bonds and 1% derivatives.
Source: Form ADV Part 1A, Items 5.K.(1) and 7.B, from the SEC's 2 October 2026 data file
Who owns Uhlmann Investment Management?
Uhlmann Investment Management is owned through a chain of holding companies by James Baer and Alan Konn. Its direct owner is Uhlmann Price Securities, LLC (75% or more).
Source: Form ADV Part 1A, Schedules A and B, filed 24 March 2026
How does Uhlmann Investment Management get paid?
Uhlmann Investment Management is paid through a percentage of assets under management. 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 Uhlmann Investment Management registered with the SEC?
Yes, Uhlmann Investment Management has been registered with the SEC as an investment adviser since 7 May 2018. Its CRD number is 118025 and its SEC file number is 801-113188.
Source: Form ADV Part 1A, Item 1, filed 24 March 2026; IAPD firm record
How do I contact Uhlmann Investment Management?
Uhlmann Investment Management’s main office is at 5202 Old Orchard Road, Suite 250, Skokie, IL 60077. Its phone number is 312-264-4400.