Uniplan

What Uniplan does

Uniplan Investment Counsel is a privately held, US-registered boutique investment adviser founded in 1984 by Rick Imperiale and headquartered in Milwaukee, Wisconsin. The firm specializes in alternative investment strategies distributed as separately managed accounts to financial advisors, independent wealth advisors, institutional clients (including endowments and foundations), and high net worth individuals, with a flexible negotiable fee schedule billed annually. Its product set comprises four SMAs: the REIT Strategy (REITs and REOCs, composite since 1989), the Micro Cap Strategy (bottom 10% of US investable equities, since 1999), the HITR multi-asset income strategy (REITs, infrastructure, preferreds, dividend equities, since 2001), and the Managers Portfolio (concentrated unconstrained equity thematics, since 2022). The firm's technology stack combines proprietary quantitative screens — including a REIT supply/demand database and a Smart Momentum screen used in the Managers strategy — with fundamental qualitative analysis, including management meetings and field research in micro cap names that lack broad analyst coverage. Uniplan earns revenue through recurring investment advisory fees tied to AUM and bespoke portfolio mandates, with co-advisory partnerships (Green Alpha Advisors for sustainable fixed income; iSelect Funds for venture capital access) extending its product footprint beyond traditional public-market alternatives.

Name

Uniplan

Legal name

Uniplan Investment Counsel, Inc.

Website

https://uniplanic.com

Company type

Private

Founded year

1984

Operating status

Operating

Headcount range

11–50 employees

Short description

Uniplan Investment Counsel is a privately held, Milwaukee-based boutique investment adviser founded in 1984 that manages alternative investment SMAs — REIT, Micro Cap, HITR, and Managers strategies — for financial advisors, HNW individuals, and institutional clients.

Ownership category

akta.pro rank

Product category

Alternative Investment Management

NAICS

Portfolio Management and Investment Advice (523940)

SIC

Investment Advice (6282)

akta.pro primary industry

Investment Management Advisory (RIA) (FSAEAAAB)

akta.pro secondary industries

Comprehensive/Full-Service RIAs & Independent Wealth Managers (FSAAACAA), Institutional Consulting RIAs (OCIO/Endowments/Foundations/Pensions) (FSAAACAG), Real Estate Investment Advisory (Acquisitions/Dispositions, Capital Allocation) (BPAJANAA)

Keywords

• Alternative investment management
• REIT investment strategy
• Micro cap equity
• High income strategies
• Wealth advisory services

Headquarters

HQ city

Union Grove

HQ country

United States

HQ region

North America

Offices1 record

Markets served

GTM type

B2B

Offering type

Services

Cost components

Personnel, Operations, Technology or R&D, Marketing or Sales, Compliance

Revenue model

1. Investment Advisory Fees: Uniplan charges investment management fees for managing client portfolios across its REIT, Micro Cap, HITR, and Managers strategies. The firm has a flexible and negotiable fee schedule reflecting the differences in size, composition and servicing needs of clients' accounts. The composite contains both traditional and wrap fee portfolios.
2. Bespoke Portfolio Services: Customized portfolio management services for independent wealth advisors, high net worth individuals, and institutional clients including Managers Portfolio, Small Cap Equity, Preferred Securities, Unconstrained Fixed Income, Municipal Fixed Income, and Option Overlay Strategies.

Pricing tiers

Go-to-market motion2 records

Distribution channels3 records

Marketing channels3 records

Core offering

Uniplan Investment Counsel is a boutique investment advisory firm founded in 1984 that manages four alternative investment strategies — REIT, Micro Cap, HITR (High Income Total Return), and Managers — through separately managed accounts. The firm provides low-correlation portfolio strategies designed to shift client portfolios out on the efficient frontier, primarily serving US clients via financial advisors, wealth advisors, and institutional relationships. Uniplan also publishes educational books on REIT and micro cap investing authored by its founder.

Product overview

Uniplan Investment Counsel is a boutique investment advisory firm offering four distinct alternative investment strategies: REIT Strategy (focused on Real Estate Investment Trusts), Micro Cap Strategy (targeting the bottom 10% of US investible equity market), HITR Strategy (a multi-asset income portfolio of REITs, global infrastructure, preferred securities, and dividend-paying stocks), and Managers Strategy (an unconstrained equity portfolio of concentrated high-conviction thematic ideas). The firm also publishes two educational books on REIT and micro cap investing authored by founder Rick Imperiale. All strategies are separately managed account programs with performance tracked against relevant benchmarks.

Differentiator

Problem solved

Functional benefit

Brands

• Uniplan REIT Strategy: Alternative investment strategy investing primarily in Real Estate Investment Trusts (REITs) and Real Estate Operating Companies (REOCs)
• Uniplan Micro Cap Strategy
• Uniplan HITR Strategy
• Uniplan Managers Strategy

Products and services

• REIT Strategy A real estate investment trust strategy investing primarily in REITs and Real Estate Operating Companies (REOCs) with a location-focused investment process and sector-neutral risk controls; designed for advisors and institutional clients seeking REIT exposure with diversification.
• Micro Cap Strategy An investment strategy focused on US domestic equity companies representing the bottom 10% of the US investible equity market, offering liquid alternative exposure to Private Equity and Venture Capital; benchmarked against the Wilshire US Micro Cap Index.
• HITR (High Income Total Return) Strategy A multi-asset class income strategy investing in REITs, global infrastructure, preferred securities, and dividend-paying common stocks, with allocations adjusted based on relative valuations; designed for income-focused investors.
• Managers Strategy An unconstrained all-capitalization equity strategy that seeks to maximize alpha by investing in US listed stocks and ETFs with high concentration in high-conviction thematics; designed for investors seeking concentrated best-ideas exposure.
• Real Estate Investment Trusts: New Strategies for Portfolio Management A published book authored by Rick Imperiale explaining REIT benefits, performance characteristics, and portfolio integration strategies for investors and advisors.
• The Micro Cap Investor: Strategies for Making Big Returns in Small Companies A published book authored by Rick Imperiale presenting investment strategies for micro cap stocks, including fundamental valuation techniques and resources for individual investors.

Quantifiable outcome

• REIT strategy standard deviation (annual returns 1989-2026): 16.48% vs benchmark 18.70%
• +3 more outcomes

Segments4 records

Ideal customer profiles3 records

Technology focussed No

API detail

Has API

No

API docs

API detail

Core technology

AI maturity

App detail

Feature3 records

Partnerships

Four partnerships are on record, tiered minor.

• Green Alpha Advisors LLCminorStrategic or Co-development PartnerUniplan co-advises Next Economy Fixed Income portfolios with Green Alpha Advisors LLC, combining expertise in sustainable investing with traditional fixed income management.
• iSelect FundsminorStrategic or Co-development PartnerUniplan offers Venture Capital Opportunities in partnership with affiliate iSelect Funds, providing clients access to private equity-style investments.
• Marquette University AIM ProgramminorOthersUniplan procures intern candidates from the Applied Investment Management (AIM) Program at Marquette University. Students in this program manage a multi-million dollar small-cap equity and fixed income portfolio from the university's endowment.
• Carroll UniversityminorOthersUniplan has also worked with Carroll University for intern candidates, primarily focusing on the Operations department.

Scale indicators7 records

Recent moves6 records

Expansion highlights5 records

Direct peers

• Cohen & Steers: Publicly-traded specialist investment manager focused primarily on real estate securities and listed real assets. Directly comparable to Uniplan's REIT strategy given its specialization in REIT active management, similar institutional and wealth-advisor distribution, and multi-decade track record in REIT investing.
• Heitman: Real estate-focused investment manager offering public and private real estate strategies. Comparable to Uniplan in its REIT and real-asset specialty focus, institutional client base, and emphasis on proprietary bottom-up real estate research.
• Royce Investment Partners: Boutique US asset manager specializing in small-cap and micro-cap equity strategies. Directly comparable to Uniplan's Micro Cap strategy given its niche focus on the smallest US-listed companies, fundamental bottom-up research approach, and similar advisor-channel distribution model.
• ClearBridge Investments: Large multi-affiliate active equity manager with strategies spanning REIT, income, and small-cap mandates. Comparable to Uniplan in offering REIT and income-oriented separately managed accounts to advisor and institutional channels with long track records.
• Westwood Holdings Group: Boutique institutional asset manager offering equity and income strategies with emphasis on proprietary fundamental research. Comparable to Uniplan given similar boutique scale, multi-strategy platform, advisor and institutional distribution, and focus on risk-managed active mandates.
• Ariel Investments: Employee-owned boutique asset manager specializing in small and mid-cap US equities. Comparable to Uniplan given its boutique structure, fundamental bottom-up approach, similar scale, and concentration in US small/micro-cap alternative strategies.
• Snow Capital Management: Boutique US equity manager focused on mid- and small-cap value strategies distributed through advisor and institutional channels. Comparable to Uniplan's Micro Cap strategy via similar small-cap specialization and SMA-focused distribution.

Broad incumbents

• Sterling Capital Management: Larger diversified asset manager offering multi-asset strategies including real estate, fixed income, and equities. Comparable to Uniplan in providing REIT, fixed income, and equity SMA solutions, though at significantly larger scale and broader institutional reach.
• Forward Management (Forward Industries): Asset management subsidiary offering separate account strategies including real estate securities and alternatives. Comparable to Uniplan in REIT separate-account focus and previously employed Uniplan CEO Kris Jamison in a senior separate-account distribution role.

Others

• Green Alpha Advisors: Sustainability-focused investment manager that co-advises Next Economy Fixed Income portfolios with Uniplan. Relevant as a strategic partner and ecosystem adjacency rather than a direct competitor, demonstrating how Uniplan extends capabilities through co-developed mandates.

Market position

Strengths5 records

Weaknesses5 records

Competitive moat4 records

Key risks6 records

Key highlights6 records

Customer concentration

Revenue estimate

Valuation estimate

Number of profiles

Profiles12 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 Uniplan