Mid Continent Capital LLC is a large advisory firm based in Chicago. It manages $2.75 billion of regulatory assets for 1,210 client accounts. It has been registered with the SEC as an adviser since 2001 and has operated in the jurisdictions of Arizona, California, Colorado, and 9 other states.
Mid Continent Capital provides portfolio management for individuals and small businesses and portfolio management for businesses and institutional clients. It doesn't provide financial planning services to its clients. On top of advisory services, the firm doesn't engage in other business activities.
The assets under management (AUM) of Mid Continent Capital LLC is $2.75 billion. The firm's AUM has grown by 227% since the beginning of its operation, and the company doesn't manage any assets belonging to foreign clients.
The advisory firm has a single stream of revenue. Clients pay Mid Continent Capital LLC 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.
The firm provides services to individuals, charitable organizations, high net worth individuals, corporations or other businesses, and pension and profit sharing plans. The largest group of clients of Richard Scott Gershen is high net worth individuals with 253 clients and $1.66 billion of assets under management. Among the 11 most similar advisory firms, Mid Continent Capital has the highest percentage of high net worth individuals out of all clients.
The amount of regulatory assets under management is $2.72 billion for 325 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.
Mid Continent Capital doesn't advise any private funds.
The company employs 18 people that are either part- or full-time employees. 56 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.
Richard Scott Gershen has been acting as President since 1 Jul 2013. Gregory Paul Francoeur joined the executive team most recently as the Director.
The principal office where Mid Continent Capital LLC performs its advisory services is located at 123 North Wacker, Chicago, IL 60606, 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 312-551-8200 or by fax 312-551-8781. The normal business hours are 8:30 a.m. - 5:00 p.m. on Monday - Friday. You can find more information about the New York firm at mccllc.com.