# Wellspring Family Office

Wellspring Family Office is a Multi Family Office based in Cleveland, United States.

## Overview

- **Organization type:** Multi Family Office
- **Headquarters:** Cleveland, United States
- **Region:** North America
- **Address:** 5900 Landerbrook Drive, Suite 100, Cleveland, Ohio, United States
- **Founded:** 2007
- **Assets under management:** $7B
- **Website:** wellspringadvisorsllc.com
- **LinkedIn:** https://www.linkedin.com/company/wellspring-financial-advisors

## Regulatory record

- **CRD number:** 132698
- **SEC file number:** 801-67630
- **Registration status:** APPROVED
- **Latest Form ADV filing:** 2026-04-09T05:00:00.000Z
- **Reports private funds:** No
- **Private funds reported:** 0
- **IAPD record:** https://adviserinfo.sec.gov/firm/summary/132698

## About

Michael Novak established the firm in Cleveland in 2007. His background in CPA work and estate planning shaped an offering that combines investment advice with tax compliance, wealth transfer, and family education. The practice began as a single-office advisory shop and expanded into a multi-family office serving clients across North America. The firm deploys capital across private equity, real estate, and direct co-investments. It also maintains fund-of-funds exposure and allocations to digital assets. Confirmed positions include holdings in SupplyOne and participation in private equity secondaries. Geographic reach covers the United States and select international equity markets through ETF and direct holdings. The structure allows clients to participate in both GP-led and LP-led opportunities alongside external managers. The team numbers 41 professionals. Additional offices remain limited to the Cleveland headquarters. In September 2025 the firm sold a stake to The Pritzker Organization while retaining operational independence. Philanthropic vehicles include the Michael and Jane Novak Family Foundation, which supports Cleveland-area education and arts institutions. Service providers include Charles Schwab, Fidelity Institutional, Cohen & Company, and Thompson Hine. The partnership with The Pritzker Organization supplies long-term capital without converting the firm into a traditional private-equity platform. Governance stays with the founding team, and the mandate continues to emphasize integrated fiduciary advice over product distribution.

## Sectors

- Private Equity
- Real Estate
- Philanthropic / Mission-Related Investing
- Digital Assets

## People

- Michael Novak — Founder and CEO
- Jeffrey Kadlic — President and COO
- John G. Gherlein — Partner
- A'Shira Nelson — Tax Manager

## Questions

### Does Wellspring participate in fund commitments or only direct deals?

The firm executes both fund commitments and direct co-investments. It maintains a direct-deal program that includes SPVs and secondaries alongside external GPs.

### What investment stages does Wellspring typically target?

The firm targets startup-stage opportunities in confirmed sectors. It also participates in later-stage private equity and real-asset transactions.

### Where does the underlying client wealth originate?

Client wealth is not tied to a single source family. The firm serves ultra-high-net-worth individuals and families whose primary wealth stems from operating businesses and prior investment returns.

### What is Wellspring's known posture on co-investments alongside external GPs?

The firm facilitates client co-investments in both GP-led and LP-led vehicles. Recent activity includes secondaries participation and direct stakes in private companies.

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Last updated: 2026-07-08T20:58:29.208Z

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