Sit Investment Associates, Inc (Minneapolis)

Name: Sit Investment Associates, Inc
Address: 3300 Ids Center, Minneapolis, MN, 55402
Telephone: 612-332-3223

Sit Investment Associates, Inc is a large advisory firm based in Minneapolis. It manages $3.36 billion of regulatory assets for 84 client accounts. It has been registered with the SEC as an adviser since 2001 and has operated in the jurisdictions of Minnesota, Nebraska, and Texas.

Sit Investment Associates provides portfolio management for individuals and small businesses, portfolio management for investment companies, portfolio management for pooled investment vehicles, 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.

Sit Investment Associates: assets under management

The assets under management (AUM) of Sit Investment Associates, Inc is $3.36 billion, all of which is managed in discretionary accounts. The firm's AUM has gone down by -46% since the beginning of its operation, and the company doesn't manage any assets belonging to foreign clients.

The firm manages $3.36 billion in discretionary accounts. On average, the discretionary accounts where all decisions are made on behalf of the client hold $39.99 million each.

Sit Investment Associates has custody of $200.12 million in cash and securities for 13 clients in total but doesn’t act as a qualified custodian.

Investments

The firm invests in exchange traded securities the most. They account for 56% of the total AUM. The second-largest asset type is state and local bonds, which make up 24% of the firm’s portfolio. Investments in government bonds form 15% of the total invested assets.

Fees & Commissions

The advisory firm has a single stream of revenue. Clients pay Sit Investment Associates, Inc 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.

What kind of clients Frederick Richard Adler serves?

The firm provides services to investment companies, charitable organizations, high net worth individuals, and pooled investment vehicles. The largest group of clients of Frederick Richard Adler is investment companies with 14 clients and $2.22 billion of assets under management. Among the 6 most similar advisory firms, Sit Investment Associates has the highest percentage of investment companies out of all clients.

The amount of regulatory assets under management is $2.97 billion for 49 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.

Sit Investment Associates also advises several private funds. Namely, ten other private funds. The minimum investment commitment required of non-related persons ranges from $500,000 to $1,000,000.

Careers at Sit Investment Associates, Inc

The company employs 71 people that are either part- or full-time employees. 49 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 compensates employees in addition to the salary for bringing in new clients. Employees don’t receive compensation from other entities for client referrals.

Frederick Richard Adler has been acting as President since 1 Jul 1981. Raymond Eugene Sit joined the executive team most recently as the Vice President.

Direct owners and executive officers

Name	Entity	Date acquired	Ownership	Employer ID
Frederick Richard Adler	Director	1 Jul 1981	Other	1479252
Fredrick Richard Adler	Director	1 Jul 1981	Other	1479252
Norman Bud Grossman	Director	1 Jul 1981	Other	4341899
Eugene C Sit	Chairman, ceo & cio	1 Aug 1981	50% - 75%	2421878
Michael Brilley	Senior vice president	1 Apr 1984	Other	1697359
Peter Mitchelson	President	1 Aug 1991	Other	1542826
Peter Mitchelson	President	1 Mar 1993	Other	1542826
Roger J Sit	Executive vice president	1 Jan 1998	Other	2174779
Paul Edward Rasmussen	Vice president, chief compliance officer	1 Dec 1998	Other	2421880
William Eldridge Frenzel	Director	1 Jul 2003	Other	4347648
Ralph L. Strangis	Director, trustee	1 Aug 2005	25% - 50%	5017858
Peter Mitchelson	Vice chairman, director	1 Mar 2006	Other	1542826
Roger J Sit	President, director	1 Mar 2006	Other	2174779
Roger J Sit	President, ceo & global cio, director, trustee	1 Feb 2008	50% - 75%	2174779
Eugene C Sit	Chairman, co-ceo & co-global cio	1 Feb 2008	50% - 75%	2421878
Gail V. Sit	Shareholder	1 Jun 2008	25% - 50%	5559037
Gail V. Sit Family Trust	Shareholder	1 Dec 2009	25% - 50%	41-6563440
Debra Ann Sit	Vice president, director, trustee	1 Dec 2009	50% - 75%	4347428
Ronald D. Sit	Vice president, trustee	1 Dec 2009	50% - 75%	5773097
Robert W Sit	Vice president	1 Dec 2010	Other	5901639
Raymond Eugene Sit	Vice president	1 Dec 2015	Other	6628215

Based in Minneapolis

The principal office where Sit Investment Associates, Inc performs its advisory services is located at 3300 Ids Center, Minneapolis, MN 55402, 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 612-332-3223 or by fax 612-344-1210. The normal business hours are 8:00 am to 5:00 pm on Monday - Friday. You can find more information about the New York firm at sitinvest.com.