Asset manager · Chicago, IL
AON Investments USA Inc.
SEC-registered investment adviser · CRD 105596 · SEC 801-17219
At a glance
AON Investments USA Inc. is an SEC-registered investment adviser based in Chicago, Illinois, with $151.0 billion in regulatory assets under management as of its Form ADV filed March 25, 2026. Its largest client group by assets is pension and profit sharing plans. By Form ADV it is a asset manager, ranked 97th of 3,218 asset managers and 182nd of 17,210 SEC-registered advisers by assets.
Main office 312-381-7963aon.comLinkedInAs filed on Form ADV
- Regulatory AUM
- $151B
- Rank among asset managers
- #97 of 3,218
- Rank among all SEC RIAs
- #182 of 17,210
- Rank in Illinois
- #13 of 684
- Clients
- 579
- Accounts
- 300
- Discretionary
- 78% of AUM
- Employees
- 255
- Advisory staff
- 248
- Offices
- 15
Owners and executives on its Form ADV
- David J. TestoreChief Operating Officer
- Russell K. IvinjackGlobal Chief Investment Officer
- Bryan Richard WardHead of U.S. Investments
- Matthew B. WallaceChief Compliance Officer
- Ari N. JacobsGlobal Head of Investments
- Nicole W. RobertsonHead of Investment Operations - North America
- Beth M. HalberstadtHead of Solutions
- Kevin M. ZagortzUS Chief Investment Officer
Custody and brokerage
Broker-dealer
Hybrid RIA
AON Investments USA Inc. is a hybrid RIA: 19 of its employees are also registered representatives of a broker-dealer. It names an affiliated broker-dealer: AON Securities LLC.
- AON Securities LLC ↗CRD 4138
Who it serves
| Client type | Clients | Regulatory AUM | Share |
|---|---|---|---|
| Pension and profit sharing plans | 272 | $113B | 75% |
| Pooled investment vehicles | 31 | $34B | 23% |
| Other | 72 | $2.6B | 2% |
| Charitable organizations | 8 | $1.2B | <1% |
| State or municipal government entities | 32 | $127M | <1% |
| Banking or thrift institutions | 20 | $0M | 0% |
| Investment companies | 3 | $0M | 0% |
| Insurance companies | 2 | $0M | 0% |
| Corporations or other businesses | 139 | $0M | 0% |
Private funds
AON Investments USA Inc. reports 8 private funds with $2.1B in gross assets: hedge funds, other private funds (Form ADV Item 7.B).
Disciplinary disclosures
AON Investments USA Inc. answers yes to 4 disclosure items in Item 11 of Form ADV (criminal, regulatory or civil matters involving the firm or its advisory affiliates). Read the details on the SEC’s adviser search ↗
Services
- Portfolio management for investment companies
- Portfolio management for pooled investment vehicles
- Portfolio management for businesses and institutions
- Pension consulting
- Selecting other advisers
- Educational seminars and workshops
How it’s paid
- A percentage of assets under management
- Hourly charges
- Fixed fees
Form ADV and brochures on the SEC’s adviser search ↗aon.com ↗
AtlasMembers
The full record on AON Investments USA 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 170 peers of its type and size
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- Owners and executives, with titles and stakes
- 8 namedLocked
- Main office, fax and compliance officer
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- Filing changes this year, with alerts
- 2Locked
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Background
Questions
How much does AON Investments USA Inc. manage?
AON Investments USA Inc. reports $151.0 billion in regulatory assets under management across 300 accounts, 78% of it on a discretionary basis, on its Form ADV filed March 25, 2026.
What kind of firm is AON Investments USA Inc.?
AON Investments USA 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. It reports a bank or thrift among its related persons. A public reporting company controls it.
Who are AON Investments USA Inc.’s clients?
By assets, its largest client types are pension and profit sharing plans ($112.7 billion, 272 clients); pooled investment vehicles ($34.4 billion, 31 clients); other ($2.6 billion, 72 clients).
Does AON Investments USA Inc. manage private funds?
Yes. It reports 8 private funds with $2.1 billion in gross assets, including hedge funds, other private funds.
Does AON Investments USA Inc. have any disciplinary history?
AON Investments USA Inc. answers yes to 4 disclosure items in Item 11 of Form ADV, which covers criminal, regulatory and civil matters involving the firm or its advisory affiliates. The details are on the SEC’s adviser search.
Where these numbers come from
Every figure is AON Investments USA 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 (2026-03-25), 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 →