Blue Chip Partners, Inc. (Farmington Hills)

Name: Blue Chip Partners, Inc.
Address: 38505 Country Club Drive, Farmington Hills, MI, 48331
Telephone: 248-848-1111

Blue Chip Partners, Inc. is a large advisory firm based in Farmington Hills. It manages $537.02 million of regulatory assets for 1,229 client accounts. It has been registered with the SEC as an adviser since 2010 and has operated in the jurisdictions of California, Florida, Michigan, and 3 other states.

Blue Chip Partners provides financial planning services, portfolio management for individuals and small businesses, and pension consulting services. It prepares financial plans for more than 50 clients. On top of advisory services, the firm doesn't engage in other business activities.

Blue Chip Partners: assets under management

The assets under management (AUM) of Blue Chip Partners, Inc. is $537.02 million. The firm's AUM has grown by 801% since the beginning of its operation, and the company doesn't manage any assets belonging to foreign clients.

The firm manages $532.65 million in discretionary accounts and $4.37 million in non-discretionary accounts. On average, the discretionary accounts where all decisions are made on behalf of the client hold $439.12 thousand each. Non-discretionary accounts, where clients actively manage their portfolios, generally hold around $273.19 thousand.

Blue Chip Partners has custody of $45.19 million in cash and securities for 39 clients in total but doesn’t act as a qualified custodian.

Investments

The firm invests in exchange traded securities the most. They account for 75% of the total AUM. The second-largest asset type is other assets, which make up 20% of the firm’s portfolio. Investments in cash and cash equivalents form 5% of the total invested assets.

Fees & Commissions

The advisory firm has several streams of revenue. Clients pay Blue Chip Partners, Inc. for their services and products based on a percentage of assets under management, hourly charges, and fixed fees. 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.

What kind of clients Robert Kevin Steinberg serves?

The firm provides services to individuals, high net worth individuals, corporations or other businesses, and pension and profit sharing plans. The largest group of clients of Robert Kevin Steinberg is high net worth individuals with 198 clients and $447.6 million of assets under management. Among the 8 most similar advisory firms, Blue Chip Partners has the 4th highest percentage of high net worth individuals out of all clients.

The amount of regulatory assets under management is $537.02 million for 428 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.

Blue Chip Partners doesn't advise any private funds.

Careers at Blue Chip Partners, Inc.

The company employs 13 people that are either part- or full-time employees. 46 percent of the employees work as investment advisers or researchers. 6 employees are registered as investment adviser representatives with the state securities authorities.

There’s a single person with the role of looking for and bringing in new clients on behalf of the firm. The firm compensates employees in addition to the salary for bringing in new clients. Employees don’t receive compensation from other entities for client referrals.

Blue Chip Partners, Inc. is owned by Cynthia Frances Steinberg. Robert Kevin Steinberg has been acting as President since 1 Jul 2004. 1991 Steinberg Living Trust Dtd June 16 joined the executive team most recently as the Owner.

Direct owners and executive officers

Name	Entity	Date acquired	Ownership	Employer ID
Robert Kevin Steinberg	President/owner/chief compliance officer	1 Jul 2004	25% - 50%	1478400
Cynthia Frances Steinberg	Owner	1 Jul 2004	25% - 50%	1300801
Daniel Edward Seder	Vice president	1 Jan 2013	25% - 50%	4446418
David Scott Foret	Chief operating officer, chief compliance officer	1 Feb 2017	Other	5995048
1991 Steinberg Living Trust Dtd June 16	Owner	1 Jan 2018	50% - 75%	xxx-xx-xxxx
2017 Daniel E. Seder Living Trust Dtd June 19	Owner	1 Jan 2018	50% - 75%	xxx-xx-xxxx

Indirect Owners

The SEC currently registers 3 indirect owners.

Name	Entity	Date acquired	Ownership	Employer ID
Daniel Edward Seder	Trustee	1 Jan 2018	50% - 75%	4446418
Robert Kevin Steinberg	Trustee	1 Jan 2018	25% - 50%	1478400
Cynthia Frances Steinberg	Trustee	1 Jan 2018	25% - 50%	1300801

Based in Farmington Hills

The principal office where Blue Chip Partners, Inc. performs its advisory services is located at 38505 Country Club Drive, Farmington Hills, MI 48331, 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 248-848-1111 or by fax 248-848-1118. The normal business hours are 9:00 am - 5:00 pm on Monday - Friday. You can find more information about the New York firm at bluechippartners.com.