Wealth manager, independent · Lombard, IL
Forum Financial Management, LP
SEC-registered investment adviser · CRD 145706 · SEC 801-69970
At a glance
Forum Financial Management, LP is an SEC-registered investment adviser based in Lombard, Illinois, with $8.7B in regulatory assets under management as of its Form ADV filed September 14, 2026. It reports 5,622 individual clients, 1,719 of them high-net-worth, holding an average of about $1.3 million each, and 143 employees. That ranks it 120th among the nation’s 5,657 independent wealth management RIAs and 10th of 226 in Illinois. It reports 2 custodians for its clients’ separately managed accounts: Charles Schwab and Fidelity.
Main office 630-873-8520forumfinancial.comLinkedInAs filed on Form ADV
- Regulatory AUM
- $8.7B
- Rank among independent wealth managers
- #120 of 5,657
- Rank among all SEC RIAs
- #1,498 of 17,210
- Rank in Illinois
- #10 of 226
- Individual clients
- 5,622
- High-net-worth clients
- 1,719
- Accounts
- 19,838
- Discretionary
- 100% of AUM
- Employees
- 143
- Advisory staff
- 94
- Offices
- 60
Owners and executives on its Form ADV
- Allison E. TronnesChief Compliance Officer
- William M. DavisChief Operations Officer
- Jonathan M. RogersCo-Managing Partner & Co-Chief Investment Officer
- Nirav R. BataviaCo-Managing Partner & Co-Chief Investment Officer
Custody and brokerage
Broker-dealer
Hybrid RIA
Forum Financial Management, LP is a hybrid RIA: 10 of its employees are also registered representatives of a broker-dealer.
Form ADV Part 1 doesn’t name an unaffiliated broker-dealer. The firm’s Part 2A brochure (Item 10) and each adviser’s record on the SEC’s adviser search do.
Who it serves
| Client type | Clients | Regulatory AUM | Share |
|---|---|---|---|
| High-net-worth individuals | 1,719 | $5.7B | 65% |
| Individuals | 3,903 | $1.4B | 17% |
| Other investment advisers | 13 | $1.2B | 14% |
| Corporations or other businesses | 76 | $307M | 4% |
| Pension and profit sharing plans | 121 | $28M | <1% |
| Charitable organizations | 9 | $13M | <1% |
Disciplinary disclosures
Forum Financial Management, LP 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
- Pension consulting
How it’s paid
- A percentage of assets under management
- Fixed fees
Form ADV and brochures on the SEC’s adviser search ↗forumfinancial.com ↗
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The full record on Forum Financial Management, LP
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 467 peers of its type and size
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- Owners and executives, with titles and stakes
- 4 namedLocked
- Main office, fax and compliance officer
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- Filing changes this year, with alerts
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Free while Atlas launches: create a free account and confirm your email. Every figure comes from SEC filings.
Similar-size RIAs in Illinois
All of Illinois →| Firm | Regulatory AUM | Clients |
|---|---|---|
| Curi Capital, LLCChicago | $12B | 2,865 |
| BMO Family Office, LLCChicago | $10.0B | 70 |
| Altair Advisers, LLCChicago | $9.8B | 895 |
| JMG Financial Group LTDDowners Grove | $7.5B | 1,776 |
| Chicago Partners Investment Group LLCChicago | $7.5B | 2,741 |
| Lasalle St. Investment Advisors, L.L.C.Elmhurst | $5.7B | 13,711 |
Background
Questions
How much does Forum Financial Management, LP manage?
Forum Financial Management, LP reports $8.7B in regulatory assets under management across 19,838 accounts, 100% of it on a discretionary basis, on its Form ADV filed September 14, 2026.
How many clients does Forum Financial Management, LP have?
It reports 5,622 individual clients: 1,719 high-net-worth individuals and 3,903 other individuals. Individuals account for about 82% of its regulatory assets.
Where is Forum Financial Management, LP headquartered?
Its main office is in Lombard, Illinois. It reports 60 offices in total and 143 employees, 94 of whom perform investment advisory functions.
How does Forum Financial Management, LP 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 Forum Financial Management, LP use?
It reports 2 custodians for its clients’ separately managed accounts: Charles Schwab and Fidelity. On Schedule D of its Form ADV filed September 14, 2026, it reports these amounts held: Charles Schwab ($8.5B); Fidelity ($110M). Form ADV lists only custodians holding 10% or more of separately managed account assets.
Is Forum Financial Management, LP a hybrid RIA with a broker-dealer?
Forum Financial Management, LP is a hybrid RIA: 10 of its employees are also registered representatives of a broker-dealer. Those representatives can also earn commissions on brokerage business through the broker-dealer, where different rules apply than for advisory accounts.
Is Forum Financial Management, LP a fiduciary?
As an SEC-registered investment adviser, Forum Financial Management, LP owes its advisory clients a fiduciary duty under the Investment Advisers Act of 1940, which includes duties of care and loyalty. 10 of its employees are also registered representatives of a broker-dealer, where different rules apply to brokerage recommendations.
Where these numbers come from
Every figure is Forum Financial Management, LP’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 (2026-09-14), 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 →