National Private Shares, Inc. (Boca Raton)

Name: National Private Shares, Inc.
Address: 5000 T Rex Avenue, Boca Raton, FL, 33431
Telephone: 561-981-1000

National Private Shares, Inc. is a related adviser based in Boca Raton. It manages $486.33 million of regulatory assets for 39 client accounts. It has been registered with the SEC as an adviser since 2018 and has operated in the jurisdictions of Florida, New York, and Washington.

National Private Shares provides portfolio management for pooled investment vehicles. It doesn't provide financial planning services to its clients. On top of advisory services, the firm doesn't engage in other business activities.

National Private Shares: assets under management

The assets under management (AUM) of National Private Shares, Inc. is $486.33 million, all of which is managed in discretionary accounts. The firm's AUM has grown by 0% since the beginning of its operation, and the company doesn't manage any assets belonging to foreign clients.

The firm manages $486.33 million in discretionary accounts. On average, the discretionary accounts where all decisions are made on behalf of the client hold $12.47 million each.

National Private Shares has custody of $486.33 million in cash and securities for 39 clients in total but doesn’t act as a qualified custodian.

Fees & Commissions

The advisory firm has several streams of revenue. Clients pay National Private Shares, Inc. for their services and products based on a percentage of assets under management and performance-based 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 Glenn Charles Worman serves?

The only and largest group of clients of Glenn Charles Worman is pooled investment vehicles with 39 clients and $486.33 million of assets under management. Among the 5 most similar advisory firms, National Private Shares has the 3rd highest percentage of pooled investment vehicles out of all clients.

The amount of regulatory assets under management is $486.33 million for 39 clients. None of the firm’s clients are foreign persons or businesses.

National Private Shares also advises several private funds. Namely, thirty two private equity funds. The minimum investment commitment required of non-related persons ranges from $25,000 to $100,000.

Careers at National Private Shares, Inc.

The company employs 8 people that are either part- or full-time employees. 100 percent of the employees work as investment advisers or researchers. No 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.

Glenn Charles Worman has been acting as President since 1 Oct 2018. Daniel Ortega joined the executive team most recently as the Chief Supervisory Officer.

Direct owners and executive officers

Name	Entity	Date acquired	Ownership	Employer ID
National Holdings Corporation	Parent company	1 Oct 2018	75% - 100%	36-4258138
Glenn Charles Worman	Director	1 Oct 2018	Other	2426561
Natalia Tovar Watson	Treasurer	1 Oct 2018	Other	4782735
Michael Anthony Mullen	Director, executive chairman	1 Oct 2018	Other	1428116
John A Koenigsberg	Director of operations	1 Oct 2018	Other	1332374
Thomas David Kowalczyk	Chief executive officer, director	1 Oct 2018	Other	5630382
John Charles Desena	Secretary	1 Oct 2018	Other	2445224
William Lawrence Groeneveld	Vice president	1 Oct 2018	Other	2127534
Henry Edward Kaplan	President & chief operating officer	1 Oct 2018	Other	1400714
Harold Gerard Chaffee	Chief compliance officer	1 Oct 2018	Other	2905661
Kay Alison Johnson	Vice president, director	1 Oct 2018	Other	1583193
Donald Kenneth Runkle	Chief supervisory officer	1 Oct 2018	Other	2207727
Daniel Ortega	Chief supervisory officer	1 Apr 2019	Other	3095215
Donald Kenneth Runkle	Chief regulatory officer	1 Apr 2019	Other	2207727

Indirect Owners

The SEC currently registers 3 indirect owners.

Name	Entity	Date acquired	Ownership	Employer ID
Inc. Fortress Biotech	Shareholder (common stock)	1 Oct 2018	50% - 75%	20-5157386
Inc B.Riley Financial	Shareholder ( common stock)	1 Feb 2019	25% - 50%	17-0223495
Nhc Holdings Llc	Shareholder (common stock)	1 Feb 2019	25% - 50%	83-2523854

Based in Boca Raton

The principal office where National Private Shares, Inc. performs its advisory services is located at 5000 T Rex Avenue, Boca Raton, FL 33431, which is also the mailing address of the firm. An additional office of the firm is in New York, NY. It doesn’t run an office outside of the United States.

You can reach the main office by calling the phone number 561-981-1000 or by fax 561-283-3366. The normal business hours are 8 am to 4:30 pm on Monday - Friday. You can find more information about the New York firm at yournational.com/private-shares/.