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This profile was last updated on 6/4/11  and contains information from public web pages.

Mr. James P. Richter

Wrong James P. Richter?

Managing Director

Phone: (312) ***-****  HQ Phone
Wintrust Wealth Management
222 South Riverside Plaza 28Th Floor
Chicago, Illinois 60606
United States

Company Description: At Wintrust Wealth Management, we provide a broad range of financial services to private clients and institutions. Founded in 1931, we are one of the oldest and...   more
Background

Employment History

Board Memberships and Affiliations

Education

  • Ph.D.
    Northwestern University
  • PhD
  • M.A.
    Miami University
  • B.S.
    Northwestern University
15 Total References
Web References
James P. Richter - Managing ...
www.wintrustwealth.com, 4 June 2011 [cached]
James P. Richter - Managing Director
James P. ...
www.wintrustwealth.com, 4 June 2011 [cached]
James P. Richter Wintrust Wealth Management > Wintrust Wealth Management Professionals > Portfolio Managers
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James P. Richter Managing Director
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Mr. Richter joined Wayne Hummer in 2003 with the acquisition of Lake Forest Capital Management.
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Jim was President of LFCM from 1983 to 2003. He has extensive and widely diversified personal and institutional investment experience in securities, real estate, and private corporate investments. He serves, or has served as an officer or director for a number of private corporate entities, as well as civic, educational, and charitable organizations. Examples of Jim's past and present charitable involvement include: President, Lake Forest Open Lands Association; Chairman, Lake Forest Symphony Association; Chairman, Barat College Board of Trustees; Vice Chairman, United Way of Metropolitan Chicago; President, United Way of Suburban Chicago; and Treasurer, Kohl Children's Museum. Mr. Richter holds a Ph.D. and B.S. from Northwestern University, and an M.A. from Miami University (Ohio). Jim is also a Director of The Chicago Trust Company and Wayne Hummer Asset Management Company.
Wayne Hummer
www.waynehummer.com, 18 Dec 2006 [cached]
James Richter
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James P. Richter Managing Director
727 North Bank LaneLake Forest, IL 60045
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Mr. Richter joined Wayne Hummer in 2003 with the acquisition of Lake Forest Capital Management.
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Jim was President of LFCM from 1983 to 2003.He has extensive and widely diversified personal and institutional investment experience in securities, real estate, and private corporate investments.He serves, or has served as an officer or director for a number of private corporate entities, as well as civic, educational, and charitable organizations.Examples of Jim's past and present charitable involvement include: President, Lake Forest Open Lands Association; Chairman, Lake Forest Symphony Association; Chairman, Barat College Board of Trustees; Vice Chairman, United Way of Metropolitan Chicago; President, United Way of Suburban Chicago; and Treasurer, Kohl Children's Museum.Mr. Richter holds a Ph.D. and B.S. from Northwestern University, and an M.A. from Miami University (Ohio).Jim is also a Director of Wayne Hummer Trust Company and Wayne Hummer Asset Management Company.
Lake Forest Open Lands Association
www.lfola.org, 7 July 2011 [cached]
James P. Richter, Vice President
Longtime Lake Forest resident and ...
gazebonews.com [cached]
Longtime Lake Forest resident and financial advisor James P. Richter was found guilty of Attempted Financial Exploitation of the Elderly on April 4 by the Lake County Circuit Court. According to public records, the Class A misdemeanor carries a sentence of 12 months conditional discharge including 100 hours of community service and a $500 contribution to a charity. He's also required to avoid all contact with the two senior citizens at the center of the case.
They're a married couple in their late-70s/early-80s who have lived in Lake Forest for 45 years and, they said, had been clients of Richter's since 1993. They spoke with GazeboNews on the condition of anonymity to raise awareness of the issue of exploitation of the elderly. GazeboNews called and emailed Richter and his attorney several times but were unable to get a comment from them.
The story of People vs. James P. Richter began in February 2010, when, according to Lake County Assistant State's Attorney Stephen Scheller, Richter asked the couple for a $45,000 loan, which they gave him. James P. Richter began in February 2010, when, according to Lake County Assistant State's Attorney Stephen Scheller, Richter asked the couple for a $45,000 loan, which they gave him.
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Scheller said that in both cases, Richter signed promissory notes.
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Richter has been involved in several local organizations and boards, including serving as the chairman of the Lake Forest Symphony Association, former president of the Lake Forest Open Lands Association, and treasurer at the First Presbyterian Church of Lake Forest.
Professionally, Richter has been an investment and asset manager for the better part of 30 years. According to an online bio, he was president of Lake Forest Capital Management from 1983 until 2003 when Wayne Hummer Investments, a subsidiary of Wintrust Wealth Management, acquired the company. (Parent company Wintrust Financial Corp. also controls Lake Forest Bank & Trust.) At Wayne Hummer, Richter was a managing director and senior portfolio manager until he retired in May 2011. He joined Bensman Group in the fall of 2012.
GazeboNews asked Wayne Hummer's parent company Wintrust Financial Corp. to comment on the guilty finding. Lisa Pattis, general counsel for Wintrust Financial Corp., stated, "It is our understanding that this matter relates to personal loans made by [the couple] to Mr. Richter.
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To our knowledge, however, whatever happened between [the couple] and Mr. Richter was a personal matter and not related to Mr. Richter's employment with us."
In the fall of 2011, the couple contacted the Lake County State's Attorney's Office, which opened an investigation and eventually reached an agreement with Richter and his attorney, in which Richter pleaded to a misdemeanor if he paid the couple back in full, which he did, according to Scheller. He said that the amount of money involved would have warranted a felony charge if the money had not been repaid.
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This isn't the first documented incident in which Richter is accused of requesting loans from an elderly client. According to public records, in April 2011, a civil complaint was filed against Richter in the Lake County Circuit Court on behalf of a then-75-year-old Lake Forest woman who said she loaned Richter $205,000 between 1992 and 1998. The complaint stated that the woman, a client of Richter's between 1992 and 1998 when he worked for Lake Forest Capital Management, had been diagnosed with Parkinson's Disease, which, according to the complaint, "impaired her ability to independently manage her property or financial resources.
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Jim has given hundreds of hours of volunteer time to better our community. But that's not really an excuse. If there are other victims, whether of Mr. Richter or others, I hope that they will contact the police or the States Attorney.
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I'm very sorry to learn about the level of distress to families and to Mr. Richter himself all this suggests.
This sad result is a blow to the whole community that has benefited in so many ways from the contributions of the Richter family. All of us, too, can reflect on the high premium we Lake Foresters put on our leaders to be successful in every way, "winners. We are privileged to live here and raise our families surrounded by open lands, rich culture, strong religious institutions, etc. As our sympathies with those who lost funds in these instances are felt, let us also not forget how much the Richter family and Jim in particular have done to make this a special place we can enjoy and be proud of.
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