What Uhlmann Price Securities does

Uhlmann Price Securities, LLC is a privately-owned, full-service boutique brokerage and advisory firm headquartered in Chicago, Illinois, founded in 1997 by Frederick G. Uhlmann, a former Chairman of the Chicago Board of Trade. The firm serves high-net-worth private clients, institutional investors (family offices, regional banks, mutual funds, hedge funds), and retirement plan sponsors through three operating divisions: Wealth Management, Investment Solutions, and Institutional Services. It reports over $650 million in client assets across traditional and alternative strategies, more than 30 registered professionals, and over $800 million raised through institutional and intermediary relationships.

The firm's product shelf spans traditional brokerage (equities, fixed income, mutual funds, ETFs, options), fee-based wealth management programs (Resource II, Total Strategy Account, Advisor wrap), alternative investments (hedge funds, managed futures, commodities via the Rogers International Commodity Index methodology, private equity, venture capital, REITs), and institutional services including bespoke hedging solutions (over $11 billion notional structured over the last decade) and third-party marketing of non-traditional strategies. The technology backbone is built on a broker-dealer platform with clearing and custody through RBC Clearing & Custody (a division of RBC Capital Markets), with secondary custody through Schwab, and a proprietary Investor Connect client portal providing account access and 20-minute market updates.

The business model combines transaction-based brokerage commissions with recurring fee-based wealth management (annual fees on account value) and alternative-investment-related revenue from third-party marketing. The firm employs both employee-affiliated advisors and an Independent Affiliate Program, with an explicit stated intent to expand across all 50 states. The firm is owned and operated by its managing members — James D. Baer (President), Alan Konn (Managing Member and senior portfolio manager), Maura Clark (CFO), and Cindy Kelly (COO/CCO) — with no disclosed external private equity or venture capital ownership.

Name

Uhlmann Price Securities

Legal name

Uhlmann Price Securities, LLC

Website

https://upsecurities.com

Company type

Private

Founded year

1997

Operating status

Operating

Headcount range

11–50 employees

Short description

Uhlmann Price Securities is a privately-owned Chicago-based boutique brokerage and advisory firm serving high-net-worth individuals, institutional investors, and retirement plan sponsors with traditional and alternative investment solutions, fee-based wealth management, and institutional hedging services.

Ownership category

akta.pro rank

Headquarters

HQ city

Chicago

HQ country

United States

HQ region

North America

Offices2 records

Markets served

GTM type

B2B and B2C

Offering type

Services

Cost components

Personnel, Operations, Marketing or Sales, Technology or R&D, Infrastructure, Others

Revenue model

1. Brokerage Transaction Fees: Traditional brokerage services generating commissions on securities transactions including equities, fixed income, and other investment products. Services include restricted securities transactions (Rule 144 and Rule 145), hedging and monetization transactions, and 10b5-1 Sales Plans.
2. Fee-Based Wealth Management: Fee-based programs including Resource II (select professional money managers), Total Strategy Account (consolidated account with multiple managers and ETFs), and Advisor wrap program. Single annual fee based on account value rather than per-transaction charges.
3. Alternative Investment Products: Revenue from hedge fund-of-funds, direct hedge funds, venture capital, private equity, managed futures, and commodity investments. The firm serves as third-party marketer for institutional strategies.

Pricing tiers

Go-to-market motion1 record

Distribution channels4 records

Marketing channels4 records

Core offering

Uhlmann Price Securities is a privately-owned full-service boutique brokerage and advisory firm offering wealth management, investment solutions, and institutional services. It provides private clients, high net-worth individuals, and institutions with access to traditional and alternative investments, financial and retirement planning, insurance and trust services, and bespoke institutional hedging solutions. The firm operates through clearing arrangements with RBC and Schwab and serves over $650 million in client assets via more than 30 registered professionals.

Product overview

Uhlmann Price Securities is a full-service brokerage and wealth management firm offering a unified platform of investment products and advisory services. The core offering consists of three main divisions: Wealth Management (providing financial planning, retirement planning, insurance, trust services, and charitable giving), Investment Solutions (spanning traditional investments like equities and fixed income alongside alternative investments including hedge funds, managed futures, private equity, and venture capital), and Institutional Services (serving large institutional investors with non-traditional strategies and risk management solutions). The firm leverages clearing services through RBC Clearing & Custody and offers client portal access through Investor Connect. Managing members have over 100 years of combined experience with over $650 million in retail and institutional client assets.

Differentiator

Problem solved

Functional benefit

Products and services

• Wealth Management Comprehensive wealth management services including financial planning, retirement planning, insurance and protection, trust services, and charitable giving for high net worth individuals, with portfolio construction, risk tolerance assessment, and customized investment solutions.
• Investment Solutions Access to an extensive array of investment products spanning traditional and alternative investments including equities, fixed income, fee-based wealth management tools, commodities, hedge funds, and managed futures, targeted at private clients, high net worth individuals, and institutions.
• Traditional Investments Traditional investment products including stocks, options, mutual funds, ETFs, unit investment trusts, variable annuities, venture capital, private equity, real estate, BDCs, government and agency securities, municipal and corporate bonds, structured notes, and cash management tools.
• Alternative Investments Alternative investment products offering portfolio diversification through non-correlated assets including managed futures, commodities, hedge fund strategies, private equity, venture capital, and real estate investment trusts.
• Institutional Services Third-party marketing for institutional strategies focused on non-traditional investments with low correlation to traditional asset classes, including bespoke hedging solutions for concentrated equity positions, margin replacement, and diversified equity strategies for family offices, pension plans, mutual funds, hedge funds, and regional banks. The team has raised over $800 million and structured over $11 billion notional in bespoke hedging solutions over the last decade.
• Retirement Planning Services Full-service retirement plan offerings including IRAs, 401(k), Roth IRAs, Simple IRAs, SEP plans, 403(b) accounts, profit sharing plans, and money purchase pension plans for individuals and businesses.
• Insurance & Protection Insurance programs delivered through OneAmerica covering whole life, term life, universal life, disability insurance, long-term care, and annuities with long-term care benefits.
• Trust Services Trust and estate planning services provided through RBC Trust Services covering estate planning, incapacity planning, wealth transfer, and probate avoidance.
• Investor Connect Client Portal Secure online client account access platform providing market and business news with prices updated every 20 minutes, online registration for new users, and comprehensive account management capabilities.

Segments3 records

Ideal customer profiles3 records

Technology focussed No

API detail

Has API

No

API docs

API detail

Core technology

AI maturity

App detail

Feature1 record

Partnerships

Six partnerships are on record, tiered core and minor.

• RBC Clearing & CustodycoreTechnology or IntegrationLong-standing clearing agreement providing clearing services through RBC Clearing & Custody, a division of RBC Capital Markets, LLC (member NYSE/FINRA/SIPC). RBC provides execution capabilities on all principal exchanges and custody services for client accounts.
• RBC Trust ServicescoreStrategic or Co-development PartnerArrangement with RBC Wealth Management's Trust Services division to provide estate, trust, and incapacity solutions including wealth preservation and transfer strategies for clients.
• OneAmericacoreStrategic or Co-development PartnerInsurance partnership through which Uhlmann Price offers Whole Life, Term Life, Universal Life, disability insurance, and long-term care products including annuities with LTC benefits.
• Jim Rogers / Rogers International Commodity IndexminorStrategic or Co-development PartnerIn 2006, Alan Konn led the introduction of the Rogers International Commodity Index methodology for the firm's institutional strategies. The RICI represents commodity values ranging from agricultural products to energy and metals.
• PRICE Futures GroupcoreStrategic or Co-development PartnerTom Price, CEO of The PRICE Futures Group (an introducing brokerage futures firm), invested in Uhlmann Price Securities to bring traditional and alternative investments onto the same platform. Tom Price serves as Co-Chairman of Price Holdings, Inc.
• William BlairminorStrategic or Co-development PartnerAlan Konn spent 17 years at William Blair in their Private Investor Department prior to joining Uhlmann Price in 2003. Kelley Armour also previously worked with William Blair and Company.

Scale indicators4 records

Recent moves5 records

Expansion highlights5 records

Direct peers

• Janney Montgomery Scott: Philadelphia-based full-service private wealth and capital markets firm with a comparable advisor-led model focused on HNW individuals, families, and institutions; similar in offering mix and boutique/national positioning.
• Mesirow Financial: Independent, employee-owned Chicago-based financial services firm offering wealth management, investment management, and capital markets; closely comparable boutique size and HNW/institutional client mix.
• William Blair: Chicago-headquartered boutique offering private wealth management, investment banking, and institutional research; comparable in scale, geography, HNW focus, and full-service advisory model, and a known prior employer of multiple Uhlmann Price senior staff.
• Oppenheimer & Co. Full-service broker-dealer with wealth management, investment banking, and alternative investments for HNW and institutional clients; similar product breadth and advisor-led model.
• Robert W. Baird & Co. Private, employee-owned full-service wealth management and investment bank with a strong Midwest base and a similar mix of HNW advisory, institutional equities/fixed income, and alternative strategies.

Broad incumbents

• Edward Jones: National full-service brokerage serving mass-affluent and HNW clients with an advisor-led model; competes with Uhlmann Price for retail HNW relationships but at vastly greater scale.
• Stifel Financial: Larger full-service broker-dealer and wealth manager with a strong institutional and HNW franchise; broader footprint and product set but overlapping in wealth advisory, brokerage, and alts distribution.
• CIBC Private Wealth: National wealth manager focused on HNW individuals, families, and institutions with fee-based advisory, alternatives, and institutional services; overlaps with Uhlmann Price's institutional and HNW franchise at a larger scale.

Emerging players

• Hightower Advisors: Fast-growing independent advisor network offering wealth management to HNW clients; directly comparable to Uhlmann Price's independent affiliate distribution model and a potential acquirer/strategic for similar boutiques.

Regional players

• Wintrust Wealth Management: Chicago-area bank-affiliated wealth manager offering HNW advisory and institutional services to a similar Midwest client base; a regional competitor in the same geography.

Market position

Strengths4 records

Weaknesses4 records

Competitive moat4 records

Key risks5 records

Key highlights6 records

Customer concentration

• Facebookfacebook.com/uhlmannpricesecurities
• LinkedInlinkedin.com/company/uhlmann-price-securities-llc

Revenue estimate

Valuation estimate

Number of profiles

Profiles19 records

Funding overview

Funding rounds

Investors

Funding detail is available on the Subscription and Enterprise plan.Contact sales →

M&A

Investments

M&A and investment is available on the Subscription and Enterprise plan.Contact sales →

Frequently asked questions about Uhlmann Price Securities