Top RIAs in Illinois
Every SEC-registered RIA with a main office in Illinois, by regulatory AUM, from Form ADV
678 RIAs registered with the SEC are headquartered in Illinois, the 5th most of any state, managing $7.78T in regulatory assets as of Sep 1, 2026. The largest by regulatory AUM is Northern Trust Investments, Incorporated in Chicago at $1.25T. 254 firms report $1 billion or more.
678
SEC-registered RIAs
$7.78T
Regulatory AUM
254
Firms at $1B and above
$562.4M
Median firm AUM
Data as of Sep 1, 2026, file ia09012026-registered.zip. Retrieved Sep 10, 2026.
01 · The firms
Every SEC-registered RIA in Illinois, by regulatory AUM
The default sort is regulatory assets under management as each firm filed it, which puts asset managers and wealth managers on one list. The toggle for firms where individuals and high-net-worth individuals hold the majority of assets is what separates them, using the firm's own Form ADV Item 5.D figures.
The 500 largest of 678 firms by regulatory AUM as filed.
| # | Firm | City | Regulatory AUM | Advisory staff | Accounts | Individual + HNW clients | Retail share | Filed |
|---|---|---|---|---|---|---|---|---|
| 1 | Northern Trust Investments, IncorporatedCRD 105780 | Chicago | $1.25T | 219 | 41,027 | 35,278 | 8% | Jun 2026 |
| 2 | Invesco Capital Management LLCCRD 125601 | Downers Grove | $941.0B | 39 | 444 | n.d. | 0% | Aug 2026 |
| 3 | First Trust Advisors LPCRD 107027 | Wheaton | $309.2B | 143 | 6,316 | 3,527 | 2% | Apr 2026 |
| 4 | Nuveen Asset Management, LLCCRD 155584 | Chicago | $280.5B | 296 | 65,258 | 62,597 | 21% | Mar 2026 |
| 5 | L&G - Asset Management, AmericaCRD 149156 | Chicago | $267.2B | 104 | 554 | 0 | 0% | Jul 2026 |
| 6 | Cetera Investment Advisers LLCCRD 105644 | Schaumburg | $256.8B | 9,049 | 813,961 | 801,652 | 96% | Aug 2026 |
| 7 | Balyasny Asset Management L.P.CRD 138111 | Chicago | $248.1B | 1,026 | 48 | n.d. | 0% | Jun 2026 |
| 8 | Hightower Advisors, LLCCRD 145323 | Chicago | $198.6B | 953 | 220,222 | 62,807 | 90% | Aug 2026 |
| 9 | Gallagher Fiduciary Advisors, LLCCRD 146509 | Rolling Meadows | $194.8B | 218 | 6,407 | 3,940 | 1% | Jul 2026 |
| 10 | Nuveen Fund Advisors, LLCCRD 104626 | Chicago | $186.3B | 25 | 235 | 0 | 0% | Mar 2026 |
| 11 | Thoma BravoCRD 157041 | Chicago | $182.9B | 89 | 153 | n.d. | 0% | Mar 2026 |
| 12 | GC Advisors LLCCRD 148687 | Chicago | $177.9B | 274 | 144 | 0 | 0% | Aug 2026 |
| 13 | AON Investments USA Inc.CRD 105596 | Chicago | $151.0B | 248 | 300 | n.d. | 0% | Mar 2026 |
| 14 | GC Opal Advisors LLCCRD 289425 | Chicago | $124.3B | 306 | 87 | 0 | 0% | Aug 2026 |
| 15 | Harris | OakmarkCRD 106960 | Chicago | $109.5B | 43 | 2,326 | 1,888 | 7% | Aug 2026 |
| 16 | LSV Asset ManagementCRD 109918 | Chicago | $104.2B | 15 | 216 | 0 | 0% | Mar 2026 |
| 17 | Fiducient Advisors LLCCRD 106720 | Chicago | $97.5B | 78 | 1,241 | 689 | 34% | Jul 2026 |
| 18 | GCM Grosvenor L.P.CRD 108654 | Chicago | $95.5B | 166 | 407 | 3 | 0% | Jun 2026 |
| 19 | PPM America IncCRD 107269 | Chicago | $93.8B | 117 | 67 | 1 | 0% | May 2026 |
| 20 | Morningstar Investment Management LLCCRD 108031 | Chicago | $87.8B | 52 | 515,981 | 515,959 | 45% | Aug 2026 |
| 21 | Cresset Asset Management, LLCCRD 288566 | Chicago | $78.9B | 187 | 32,894 | 4,746 | 89% | Aug 2026 |
| 22 | Blue Owl Real Estate Capital LLCCRD 165132 | Chicago | $67.9B | 130 | 91 | 0 | 0% | May 2026 |
| 23 | CIBC Private Wealth Advisors, Inc.CRD 109644 | Chicago | $67.8B | 220 | 29,019 | 8,083 | 66% | Jun 2026 |
| 24 | Harbor Capital Advisors, Inc.CRD 113042 | Chicago | $67.6B | 25 | 15 | 0 | 0% | Aug 2026 |
| 25 | Adams Street Partners, LLCCRD 109358 | Chicago | $66.5B | 190 | 405 | 0 | 0% | Jun 2026 |
| 26 | William Blair Investment Management, LLCCRD 173961 | Chicago | $65.6B | 142 | 682 | 2 | 0% | Apr 2026 |
| 27 | William Blair & Company L.L.C.CRD 1252 | Chicago | $64.3B | 231 | 39,781 | 35,296 | 82% | Mar 2026 |
| 28 | Towers Watson Investment Services, Inc.CRD 110473 | Chicago | $62.7B | 233 | 138 | 0 | 0% | Jul 2026 |
| 29 | Valor Equity PartnersCRD 160014 | Chicago | $59.3B | 68 | 57 | 0 | 0% | Apr 2026 |
| 30 | Savant Wealth ManagementCRD 107271 | Rockford | $55.6B | 238 | 81,840 | 23,288 | 88% | Jul 2026 |
| 31 | BDT Capital PartnersCRD 160914 | Chicago | $51.5B | 231 | 46 | 0 | 0% | Aug 2026 |
| 32 | Mesirow Financial Investment Management, Inc.CRD 111135 | Chicago | $50.4B | 116 | 90,291 | 14,056 | 26% | Jul 2026 |
| 33 | Gtcr LLCCRD 159545 | Chicago | $48.6B | 99 | 55 | n.d. | 0% | Mar 2026 |
| 34 | Antares Capital Advisers LLCCRD 281998 | Chicago | $47.4B | 240 | 53 | n.d. | 0% | Aug 2026 |
| 35 | Marquette Associates, Inc.CRD 21572 | Chicago | $47.1B | 64 | 348 | 103 | 10% | May 2026 |
| 36 | Calamos Advisors LLCCRD 105758 | Naperville | $43.9B | 114 | 1,957 | 1,736 | 4% | Jul 2026 |
| 37 | Alyeska Investment Group, L.P.CRD 155058 | Chicago | $41.7B | 38 | 3 | 0 | 0% | Mar 2026 |
| 38 | Milliman Financial Risk Management LLCCRD 159377 | Chicago | $40.3B | 135 | 246 | n.d. | 0% | Mar 2026 |
| 39 | Rreef America L.L.C.CRD 109596 | Chicago | $34.3B | 132 | 120 | 0 | 0% | Jul 2026 |
| 40 | Magnetar Financial LLCCRD 136045 | Evanston | $32.0B | 64 | 72 | n.d. | 0% | Aug 2026 |
| 41 | Ptma Investment AdvisorsCRD 301973 | Naperville | $30.6B | 81 | 508 | 15 | 0% | Apr 2026 |
| 42 | Innovator Capital Management, LLCCRD 287718 | Wheaton | $30.2B | 6 | 1 | n.d. | 0% | Jun 2026 |
| 43 | AAMCRD 109875 | Chicago | $27.5B | 30 | 846 | 2 | 1% | Mar 2026 |
| 44 | Allstate Investment Management CompanyCRD 107775 | Chicago | $26.5B | 119 | 49 | n.d. | 0% | Mar 2026 |
| 45 | CFI PartnersCRD 139531 | Chicago | $26.3B | 23 | 11 | n.d. | 0% | Mar 2026 |
| 46 | Driehaus Capital Management LLCCRD 105757 | Chicago | $26.1B | 27 | 90 | 1 | 0% | Aug 2026 |
| 47 | Segall Bryant & HamillCRD 106505 | Chicago | $22.6B | 51 | 2,770 | 5,337 | 12% | Jul 2026 |
| 48 | Madison Dearborn PartnersCRD 157349 | Chicago | $20.7B | 53 | 57 | n.d. | 0% | Mar 2026 |
| 49 | Harrison Street Advisors, LLCCRD 157983 | Chicago | $20.2B | 225 | 12 | 0 | 0% | Mar 2026 |
| 50 | Choreo, LLCCRD 111221 | Rockford | $19.1B | 97 | 24,999 | 6,794 | 93% | Jul 2026 |
02 · By city
Where in Illinois the firms sit
Main-office city as filed. Up to the twenty-five cities with the most firms.
- Chicago370 · $5.60T
- Naperville20 · $85.0B
- Evanston15 · $46.9B
- Oak Brook13 · $5.5B
- Downers Grove11 · $964.1B
- Northfield11 · $3.0B
- Northbrook10 · $7.6B
- Lake Forest8 · $11.3B
- Wheaton8 · $353.3B
- Champaign7 · $4.5B
- Deerfield6 · $10.7B
- Highland Park6 · $2.9B
- Lisle6 · $25.4B
- Oakbrook Terrace6 · $3.0B
- Rockford6 · $75.4B
- Schaumburg6 · $259.2B
- Springfield6 · $5.4B
- Barrington5 · $1.5B
- Burr Ridge5 · $1.8B
- Elmhurst5 · $7.7B
- Hinsdale5 · $5.1B
- Libertyville5 · $2.9B
- Skokie5 · $1.4B
- Arlington Heights4 · $794.3M
- Buffalo Grove4 · $1.4B
03 · Questions
Questions people ask about RIAs in Illinois
- How many RIAs are in Illinois?
- 678 RIAs registered with the SEC list a main office in Illinois in the SEC's Form ADV data as of Sep 1, 2026. That count excludes state-registered RIAs, which generally manage under $100 million and file with the state rather than the SEC, and firms whose address is suppressed on Form ADV.
- What is the largest RIA in Illinois?
- By regulatory assets under management as filed on Form ADV, the largest SEC-registered RIA headquartered in Illinois is Northern Trust Investments, Incorporated in Chicago, at $1.25T. Regulatory AUM counts all assets a firm manages, so the largest filer in a state is often an asset manager rather than a wealth manager.
- How many Illinois RIAs manage more than $1 billion?
- 254 of the 678 SEC-registered RIAs headquartered in Illinois report regulatory assets under management of $1 billion or more. The median firm in the state reports $562.4M.
- Where does this data come from?
- From the SEC's monthly Form ADV data file for SEC-registered investment advisers (ia09012026-registered.zip, data as of Sep 1, 2026). Each figure is as the firm itself reported it on Form ADV Item 5; the SEC does not verify it. Every row links to the firm's record on the SEC's Investment Adviser Public Disclosure site.
Definitions and source
What each column means, in the SEC's words
- Regulatory assets under management Form ADV Item 5.F(2)(c)
- If yes, what is the amount of your regulatory assets under management and total number of accounts? Total, discretionary plus non-discretionary.
- Total accounts Form ADV Item 5.F(2)(f)
- Total number of accounts, discretionary plus non-discretionary.
- Employees Form ADV Item 5.A
- Approximately how many employees do you have? Include full- and part-time employees but do not include any clerical workers.
- Advisory employees Form ADV Item 5.B(1)
- Approximately how many of the employees reported in 5.A. perform investment advisory functions (including research)?
- Broker-dealer registered representatives Form ADV Item 5.B(2)
- Approximately how many of the employees reported in 5.A. are registered representatives of a broker-dealer?
- Individual and high-net-worth clients Form ADV Item 5.D(a), 5.D(b)
- Number of clients and amount of regulatory assets under management for individuals (other than high net worth individuals) and for high net worth individuals.
- Commissions Form ADV Item 5.E(5)
- You are compensated for your investment advisory services by (check all that apply): (5) Commissions.
- Private funds Form ADV Item 7.B
- Are you an adviser to any private fund?
Source: U.S. Securities and Exchange Commission, Form ADV data, Information About Registered Investment Advisers and Exempt Reporting Advisers, file ia09012026-registered.zip (data as of Sep 1, 2026), retrieved Sep 10, 2026. Figures are as self-reported by each firm on Form ADV Item 5; the SEC does not verify them. Neither the SEC nor the state securities authorities have approved the information filed on Form ADV, and we can not guarantee its accuracy.
Winthrop & Co. is compensated by firms when an advisor joins through us. The advisor never pays. Firms on this page are listed by arithmetic on the SEC's file, not by any relationship with us, and none is ranked, labelled or recommended.