RIA comparison · SEC Form ADV
Choate Investment Advisors vs BMO Family Office, LLC
Two independent wealth managers side by side: assets, clients, staff, services and fees, from each firm’s own filing.
The short answer
Choate Investment Advisors and BMO Family Office, LLC are almost exactly the same size, with $10B and $10.0B in regulatory assets (Choate Investment Advisors slightly ahead), by their latest Form ADV filings. Choate Investment Advisors reports more individual clients (614 vs 70), while BMO Family Office, LLC’s clients hold more on average (about $140 million each against $15 million). Choate Investment Advisors is based in Boston, Massachusetts and BMO Family Office, LLC in Chicago, Illinois.
| Figure | Choate Investment Advisors | BMO Family Office, LLC |
|---|---|---|
| Regulatory AUM | $10B | $10.0B |
| National rank | #100 | #101 |
| Headquarters | Boston, Massachusetts | Chicago, Illinois |
| Individual clients | 614 | 70 |
| High-net-worth clients | 519 | 70 |
| Average client assets | $15 million | $140 million |
| Accounts | 4,009 | 5,101 |
| Discretionary | 92% of AUM | 98% of AUM |
| Employees | 34 | 130 |
| Advisory staff | 20 | 75 |
| Clients per advisory employee | 31 | 1 |
| Offices | 1 | 7 |
| Form ADV filed | 2026-03-30 | 2026-01-28 |
Choate Investment Advisors
Full profile →Services
- Financial planning
- Portfolio management for individuals and small businesses
- Portfolio management for pooled investment vehicles
- Portfolio management for businesses and institutions
- Selecting other advisers
- Periodicals or newsletters
How it’s paid
- A percentage of assets under management
- Hourly charges
- Fixed fees
BMO Family Office, LLC
Full profile →Services
- Financial planning
- Portfolio management for individuals and small businesses
- Portfolio management for pooled investment vehicles
- Portfolio management for businesses and institutions
- Pension consulting
- Selecting other advisers
- Other services
How it’s paid
- A percentage of assets under management
- Hourly charges
- Fixed fees
Questions
Which is bigger, Choate Investment Advisors or BMO Family Office, LLC?
Choate Investment Advisors, with $10B in regulatory assets under management against $10.0B at BMO Family Office, LLC. Nationally they rank #100 and #101 among 5,657 independent wealth management RIAs.
How many clients do Choate Investment Advisors and BMO Family Office, LLC have?
Choate Investment Advisors reports 614 individual clients (519 high-net-worth) with 20 advisory employees; BMO Family Office, LLC reports 70 (70 high-net-worth) with 75 advisory employees.
How do Choate Investment Advisors and BMO Family Office, LLC charge clients?
They list the same forms of compensation on Form ADV: a percentage of assets under management; hourly charges; fixed fees. Fee schedules and minimums are in each firm’s Form ADV Part 2A brochure.
What services do Choate Investment Advisors and BMO Family Office, LLC offer?
Choate Investment Advisors lists periodicals or newsletters, which BMO Family Office, LLC does not. BMO Family Office, LLC lists pension consulting; other services, which Choate Investment Advisors does not. Both offer financial planning; portfolio management for individuals and small businesses; portfolio management for pooled investment vehicles; portfolio management for businesses and institutions; selecting other advisers.
More comparisons
Where these numbers come from
Every figure is the firm’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). Average client assets divide the assets held for individual and high-net-worth clients by their number. Ranks compare each firm with all US-based independent wealth management RIAs, the same field as The Largest RIAs. Figures can lag recent deals and market moves.
Not an endorsement or a recommendation of either firm. Before hiring an adviser, read its Form ADV Part 2A brochure and check its record on the SEC’s adviser search: Choate Investment Advisors ↗, BMO Family Office, LLC ↗. How to check a financial advisor →