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Est. 2026The front page of wealth managementNew York

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RIA comparison · SEC Form ADV

Summit Trail Advisors, LLC vs Choreo, LLC

Two independent wealth managers side by side: assets, clients, staff, services and fees, from each firm’s own filing.

The short answer

Summit Trail Advisors, LLC is the larger of the two, with $20B in regulatory assets to $19B at Choreo, LLC, 4% more than its rival, by their latest Form ADV filings. Choreo, LLC reports more individual clients (6,794 vs 639), while Summit Trail Advisors, LLC’s clients hold more on average (about $26 million each against $2.6 million). Summit Trail Advisors, LLC is based in New York, New York and Choreo, LLC in Rockford, Illinois.

FigureSummit Trail Advisors, LLCChoreo, LLC
Regulatory AUM$20B$19B
National rank#48#50
HeadquartersNew York, New YorkRockford, Illinois
Individual clients6396,794
High-net-worth clients5884,392
Average client assets$26 million$2.6 million
Accounts9,77824,999
Discretionary55% of AUM89% of AUM
Employees94232
Advisory staff3197
Clients per advisory employee2170
Offices1734
Form ADV filed2026-09-042026-09-30

Summit Trail Advisors, LLC

Full profile →

Services

  • Financial planning
  • Portfolio management for individuals and small businesses
  • 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
  • Performance-based fees

Choreo, LLC

Full profile →

Services

  • Financial planning
  • Portfolio management for individuals and small businesses
  • 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, Summit Trail Advisors, LLC or Choreo, LLC?

Summit Trail Advisors, LLC, with $20B in regulatory assets under management against $19B at Choreo, LLC. Nationally they rank #48 and #50 among 5,657 independent wealth management RIAs.

How many clients do Summit Trail Advisors, LLC and Choreo, LLC have?

Summit Trail Advisors, LLC reports 639 individual clients (588 high-net-worth) with 31 advisory employees; Choreo, LLC reports 6,794 (4,392 high-net-worth) with 97 advisory employees.

How do Summit Trail Advisors, LLC and Choreo, LLC charge clients?

Only Summit Trail Advisors, LLC lists performance-based fees on Form ADV. Fee schedules and minimums are in each firm’s Form ADV Part 2A brochure.

What services do Summit Trail Advisors, LLC and Choreo, LLC offer?

They list the same advisory services on Form ADV: financial planning; portfolio management for individuals and small businesses; portfolio management for businesses and institutions; pension consulting; selecting other advisers; other services.

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: Summit Trail Advisors, LLC ↗, Choreo, LLC ↗. How to check a financial advisor →