Asset manager · Chicago, IL
Advisory Research Inc
SEC-registered investment adviser · CRD 108254 · SEC 801-14172
At a glance
Advisory Research Inc is an SEC-registered investment adviser based in Chicago, Illinois, with $991 million in regulatory assets under management as of its Form ADV filed March 20, 2026. Its largest client group by assets is high-net-worth individuals, and it reports 405 individual clients. By Form ADV it is a asset manager, ranked 1,367th of 3,218 asset managers and 5,407th of 17,210 SEC-registered advisers by assets.
Main office 312-565-1414advisoryresearch.comLinkedInAs filed on Form ADV
- Regulatory AUM
- $991M
- Rank among asset managers
- #1,367 of 3,218
- Rank among all SEC RIAs
- #5,407 of 17,210
- Rank in Illinois
- #259 of 684
- Individual clients
- 405
- High-net-worth clients
- 130
- Accounts
- 444
- Discretionary
- 100% of AUM
- Employees
- 14
- Advisory staff
- 8
- Offices
- 1
Owners and executives on its Form ADV
- Matthew K. SwaimChairman, Chief Executive Officer, and Director
- Bruce M. ZessarChief Compliance Officer, Corporate Secretary and Managing Director
Custody and brokerage
Who it serves
| Client type | Clients | Regulatory AUM | Share |
|---|---|---|---|
| High-net-worth individuals | 130 | $272M | 27% |
| Pooled investment vehicles | 3 | $261M | 26% |
| Corporations or other businesses | 18 | $203M | 21% |
| Charitable organizations | 14 | $128M | 13% |
| Individuals | 275 | $101M | 10% |
| Investment companies | 1 | $24M | 2% |
| Pension and profit sharing plans | 3 | $2M | <1% |
Private funds
Advisory Research Inc reports 2 private funds with $214M in gross assets: hedge funds (Form ADV Item 7.B).
Disciplinary disclosures
Advisory Research Inc reports no disciplinary disclosures in Item 11 of Form ADV. Read the details on the SEC’s adviser search ↗
Services
- Portfolio management for individuals and small businesses
- Portfolio management for investment companies
- Portfolio management for pooled investment vehicles
- Portfolio management for businesses and institutions
How it’s paid
- A percentage of assets under management
- Performance-based fees
Form ADV and brochures on the SEC’s adviser search ↗advisoryresearch.com ↗
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The full record on Advisory Research Inc
Ten years of SEC filings, its owners and contacts, and how it stacks up against its peers. Atlas members see all of it.
- Assets, accounts, clients and staff, ten years of filings
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- Growth over one, three and five years
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- Rank against 995 peers of its type and size
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- Owners and executives, with titles and stakes
- 2 namedLocked
- Main office, fax and compliance officer
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- Filing changes this year, with alerts
- 2Locked
Free while Atlas launches: create a free account and confirm your email. Every figure comes from SEC filings.
Background
Questions
How much does Advisory Research Inc manage?
Advisory Research Inc reports $991 million in regulatory assets under management across 444 accounts, 100% of it on a discretionary basis, on its Form ADV filed March 20, 2026.
What kind of firm is Advisory Research Inc?
Advisory Research Inc is a asset manager by its Form ADV answers. Most of its assets are managed for funds, institutions or other businesses rather than individuals.
Who are Advisory Research Inc’s clients?
By assets, its largest client types are high-net-worth individuals ($272 million, 130 clients); pooled investment vehicles ($261 million, 3 clients); corporations or other businesses ($203 million, 18 clients).
Does Advisory Research Inc manage private funds?
Yes. It reports 2 private funds with $214 million in gross assets, including hedge funds.
Does Advisory Research Inc have any disciplinary history?
Advisory Research Inc reports no disciplinary disclosures in Item 11 of its Form ADV. Check the SEC’s adviser search for the latest record.
Where these numbers come from
Every figure is Advisory Research Inc’s own answer on its latest Form ADV, from the SEC’s registered-adviser list as of October 1, 2026: regulatory assets and accounts (Item 5.F), clients by type (5.D), employees (5.A and 5.B), compensation (5.E) and services (5.G). Custodians come from Schedule D 5.K(3) of its latest filing (2026-03-20), which lists those holding 10% or more of separately managed account assets and the amount at each. “Hybrid” means some employees are also registered representatives of a broker-dealer (Item 5.B(2)); affiliated broker-dealers are the related persons it lists in Item 7.A and Schedule D. Firm type comes from its own answers: broker-dealer firms are registered broker-dealers themselves (Item 6.A); private fund advisers manage mostly private funds (Item 7.B, 5.D); wealth managers manage at least half their assets for individuals (5.D). Ranks compare it by regulatory assets with every SEC-registered adviser and with firms of its type. Figures are as of the firm’s last annual update, so they can lag recent deals and market moves. Regulatory AUM counts assets the firm continuously supervises and can differ from what a firm markets.
Not an endorsement or a recommendation. Before hiring any adviser, read its Form ADV Part 2A brochure and check its record on the SEC’s adviser search. How to check a financial advisor →