Wealth manager, independent · Chicago, IL
Chesley, Taft & Associates, LLC
SEC-registered investment adviser · CRD 111578 · SEC 801-58177
At a glance
Chesley, Taft & Associates, LLC is an SEC-registered investment adviser based in Chicago, Illinois, with $3.0B in regulatory assets under management as of its Form ADV filed March 19, 2026. It reports 617 individual clients, 585 of them high-net-worth, holding an average of about $4.7 million each, and 18 employees. That ranks it 356th among the nation’s 5,657 independent wealth management RIAs and 19th of 226 in Illinois. It reports 2 custodians for its clients’ separately managed accounts: Charles Schwab and CIBC.
Main office 312-873-1260chesleytaft.comLinkedInAs filed on Form ADV
- Regulatory AUM
- $3.0B
- Rank among independent wealth managers
- #356 of 5,657
- Rank among all SEC RIAs
- #2,822 of 17,210
- Rank in Illinois
- #19 of 226
- Individual clients
- 617
- High-net-worth clients
- 585
- Accounts
- 1,831
- Discretionary
- 92% of AUM
- Employees
- 18
- Advisory staff
- 9
- Offices
- 2
Owners and executives on its Form ADV
- Faris F. ChesleyPrincipal, Manager and Chairman
- Joan M. GiardinaPrincipal
- Gregory J. OlearyPrincipal
- Brian A. ZavalkoffPrincipal
- William A. GoldsteinPrincipal, President
- John J. SobelPrincipal
- Laura A. FlentyeChief Compliance Officer
Custody and brokerage
Broker-dealer
No broker-dealer ties
Chesley, Taft & Associates, LLC reports no employees registered with a broker-dealer and no affiliated broker-dealer.
Who it serves
| Client type | Clients | Regulatory AUM | Share |
|---|---|---|---|
| High-net-worth individuals | 585 | $2.9B | 96% |
| Corporations or other businesses | 6 | $75M | 3% |
| Charitable organizations | 7 | $23M | <1% |
| Individuals | 32 | $11M | <1% |
| Pension and profit sharing plans | 5 | $7M | <1% |
Disciplinary disclosures
Chesley, Taft & Associates, LLC reports no disciplinary disclosures in Item 11 of Form ADV. Read the details on the SEC’s adviser search ↗
Services
- Financial planning
- Portfolio management for individuals and small businesses
- Portfolio management for businesses and institutions
How it’s paid
- A percentage of assets under management
- Fixed fees
Form ADV and brochures on the SEC’s adviser search ↗chesleytaft.com ↗
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- Assets, accounts, clients and staff, ten years of filings
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Similar-size RIAs in Illinois
All of Illinois →| Firm | Regulatory AUM | Clients |
|---|---|---|
| David Vaughan Investments, LLCPeoria | $5.3B | 1,164 |
| Chicago Capital, LLCChicago | $4.8B | 818 |
| Brownson, Rehmus & Foxworth, Inc.Chicago | $4.8B | 263 |
| Capstone Financial Advisors IncDowners Grove | $2.9B | 1,068 |
| IPI Wealth Management, Inc.Decatur | $2.7B | 13,138 |
| Cozad Asset Management IncChampaign | $2.6B | 2,116 |
Background
Questions
How much does Chesley, Taft & Associates, LLC manage?
Chesley, Taft & Associates, LLC reports $3.0B in regulatory assets under management across 1,831 accounts, 92% of it on a discretionary basis, on its Form ADV filed March 19, 2026.
How many clients does Chesley, Taft & Associates, LLC have?
It reports 617 individual clients: 585 high-net-worth individuals and 32 other individuals. Individuals account for about 97% of its regulatory assets.
Where is Chesley, Taft & Associates, LLC headquartered?
Its main office is in Chicago, Illinois. It reports 2 offices in total and 18 employees, 9 of whom perform investment advisory functions.
How does Chesley, Taft & Associates, LLC charge clients?
On Form ADV it lists these forms of compensation: a percentage of assets under management; fixed fees. Fees and minimums are set out in its Form ADV Part 2A brochure, available on the SEC’s adviser search.
What custodian does Chesley, Taft & Associates, LLC use?
It reports 2 custodians for its clients’ separately managed accounts: Charles Schwab and CIBC. On Schedule D of its Form ADV filed March 19, 2026, it reports these amounts held: Charles Schwab ($2.5B); CIBC ($396M). Form ADV lists only custodians holding 10% or more of separately managed account assets.
Is Chesley, Taft & Associates, LLC a hybrid RIA with a broker-dealer?
Chesley, Taft & Associates, LLC reports no employees registered with a broker-dealer and no affiliated broker-dealer.
Is Chesley, Taft & Associates, LLC a fiduciary?
As an SEC-registered investment adviser, Chesley, Taft & Associates, LLC owes its advisory clients a fiduciary duty under the Investment Advisers Act of 1940, which includes duties of care and loyalty. It reports no employees who are registered representatives of a broker-dealer.
Where these numbers come from
Every figure is Chesley, Taft & Associates, LLC’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 (2026-03-19), 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). Its national rank compares it with every US-based independent wealth management RIA, the same field as The Largest RIAs. 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 →