Wednesday, October 21, 2026The Morning EditionOpen AtlasSign inJoin free
FinancialADVSR

Est. 2026The front page of wealth managementNew York

The Morning EditionFree · 6:30 AM ETSubscribe
IN SpaceX’s AI segment now drives more than half its revenue. Here’s what advisors should watch nextFP Why AI might recommend your competitor instead of youFP Why clients are choosing phased retirement — and what advisors should know4K SPARK Forum Offering Scholarships for Retirement Plan AdvisorsFP What Schwab's new ETF platform fees mean for clients, advisorsWM RIA Platform Leaders Ask ‘What’s the Advantage in Having Your Own Form ADV?’IN Fake e-vite phishing scams put high-net-worth clients at riskRB Rick Wurster says Schwab is tackling its forced rationing of long/short SMAs with proprietary 'offering' to stretch balance sheet, but it may be more about a fee upside, a long/short manager saysIN Fintech bytes: 55ip, Vise, Syntax push tax-smart tools for RIAsWM $20B Modera Wealth Management Launches AI Operating Platform

RIAs by state · SEC data as of October 1, 2026

RIAs in Illinois

The SEC-registered investment advisers based in Illinois, what they manage, and the largest independent wealth managers.

Illinois is home to 334 wealth-focused RIAs managing $1.08T, 6th of 51 states and DC. The largest is Hightower Advisors, LLC in Chicago, with $199B.

Wealth-focused RIAs
334
6th of 51
Their assets
$1.08T
7th of 51
$1B+ firms
75
Median $361M
All SEC RIAs
680
53,476 employees

Largest independent wealth managers in Illinois

Largest independent wealth managers headquartered in Illinois
#FirmHeadquartersRegulatory AUMIndividual clientsEmployees
1Hightower Advisors, LLCSEC recordChicago$199B62,8071,983
2Cresset Asset Management, LLCSEC recordChicago$79B4,746496
3CIBC Private Wealth Advisors, Inc.SEC recordChicago$68B8,083610
4Savant Wealth ManagementSEC recordRockford$56B23,288659
5Choreo, LLCSEC recordRockford$19B6,794232
6The Mather Group, LLCSEC recordChicago$13B4,773186
7Curi Capital, LLCSEC recordChicago$12B2,865180
8BMO Family Office, LLCSEC recordChicago$10.0B70130
9Altair Advisers, LLCSEC recordChicago$9.8B89575
10Forum Financial Management, LPSEC recordLombard$8.7B5,622143
11JMG Financial Group LTDSEC recordDowners Grove$7.5B1,776103
12Chicago Partners Investment Group LLCSEC recordChicago$7.5B2,74173
13Lasalle St. Investment Advisors, L.L.C.SEC recordElmhurst$5.7B13,711155
14Crescent Grove AdvisorsSEC recordLake Forest$5.5B32534
15Calamos Wealth Management LLCSEC recordNaperville$5.5B4,07251

Ranked by regulatory assets under management on each firm’s latest Form ADV. Excludes broker-dealers’ advisory arms and managed-account platforms. Nationally: the 100 largest RIAs.

Questions

How many RIAs are there in Illinois?

680 SEC-registered investment advisers have their main office in Illinois, and 334 of them are wealth-focused, managing at least half of their assets for individuals and high-net-worth clients. That ranks Illinois 6th of 51 states and DC, according to Financial ADVSR’s count of SEC data as of October 1, 2026.

What is the largest RIA in Illinois?

Hightower Advisors, LLC, based in Chicago, is the largest independent wealth manager headquartered in Illinois, with $199B in regulatory assets under management and 62,807 individual clients on its latest Form ADV.

How much do Illinois RIAs manage?

Wealth-focused RIAs based in Illinois report $1.08T in regulatory assets under management, 7th among the states. 75 of them manage $1 billion or more; the median manages $361M.

How we built this

The SEC publishes a list of every registered investment adviser, drawn from each firm’s Form ADV. We used the list current through October 1, 2026, kept the 16,943 advisers the SEC shows as approved, and placed each in the state of its main office; 14,641 are based in the United States. Regulatory assets under management come from Item 5.F, client counts from Item 5.D.

Wealth-focused RIAs manage at least half of their assets for individuals and high-net-worth clients, the same test as our RIA Custody Tracker; there are 8,130 in the US. Rankings and each state’s largest-firms list show independent wealth managers only: wealth-focused firms that offer financial planning, are not themselves broker-dealers, and hold less than half their assets in wrap programs they sponsor or manage. That leaves out wirehouse and broker-dealer advisory arms and managed-account platforms, which still count in each state’s totals.

What it doesn’t show

  • State-registered advisers, most of which manage less than $100 million, register with their state regulator and aren’t in SEC data.
  • A firm counts only in its main office state, though many have offices in several.
  • Figures are as of each adviser’s latest annual Form ADV update, usually its December 31 fiscal year-end, so they lag recent deals.
  • Firms that file under more than one registration (an RIA and a separate institutional arm, for example) appear as separate advisers.

The data is free to use with credit to Financial ADVSR. Questions or corrections: contact the editors.

Other states