January 1, 1970

Top 10 Independent RIAs in Chicago

Top 10 Independent RIAs in Chicago

Leveraging AdvizorPro's comprehensive firm-level dataset, we spotlight 10 of Chicago's most influential and rapidly expanding independent RIAs, ranked by their latest reported Assets Under Management (AUM). Collectively overseeing more than $640 billion, these truly independent firms serve high- and ultra-high-net-worth families, corporate retirement plans, and institutional clients through comprehensive wealth management, retirement-plan consulting, alternative investments, and sophisticated tax and estate planning. While AUM provides a clear measure of scale, additional factors such as advisor growth, client acquisition, service innovation, and technology integration offer a more complete perspective on the vibrant Midwest RIA landscape.

1) Gallagher Fiduciary Advisors – $181B AUM

Based in Rolling Meadows, Gallagher Fiduciary Advisors provides independent ERISA consulting to corporate retirement plans. As part of Arthur J. Gallagher & Co., the firm offers 3(38) and 3(21) fiduciary services, plan design consulting and fee benchmarking to mid-market and enterprise clients across the Midwest.

Key Insights:

Experienced top 89.8% AUM growth compared to $1B+ RIAs with 0.4% AUM growth.
Has 89.4% of their assets with Retirement Plans
GALLAGHER FIDUCIARY ADVISORS, LLC has 3 teams under it.
Offers: 529 Plans
Advisory clients increased from 5,649 to 5,731
Total AUM increased 43.6% ($125,753,689,525 to $180,614,282,519)
Number of employees increased from 211 to 221

2) Hightower Advisors – $165B AUM

Founded in 2008, Chicago-headquartered Hightower operates as a national partnership platform supporting elite advisor teams through equity participation, centralized operations and comprehensive wealth management services. The firm has built its reputation attracting top-tier breakaway talent from major wirehouses.

Key Insights:

Experienced top 80.5% AUM growth compared to $1B+ RIAs with 0.3% AUM growth.
Has 77.9% of their assets with High-net-worth individuals
Works with platforms including: Altium | Black Diamond | eMoney | JP Morgan | Orion | Tamarac.
HIGHTOWER ADVISORS, LLC has 31 teams under it.
Works with high-net-worth individuals
Lists 45.8% of their SMA assets with Fidelity/Nfs
Offers: 529 Plans
Advisory clients increased from 52,309 to 56,818
Number of employees increased from 1,816 to 1,837
Total AUM increased 26.5% ($130,239,337,374 to $164,789,471,551)

3) Cresset Asset Management – $70B AUM

Cresset is a Boutique Family Office and Private Wealth Management firm that caters to a wide range of clients, including CEO Founders, Entrepreneurs, Partners, Wealth Creators, HNW and multi-generational families. Their mission is to redefine the way individuals experience wealth and well-being, allowing them the freedom to pursue their passions. It is important to note that registration with Cresset does not guarantee a specific level of skill or training. For more information about Cresset Asset Management, LLC, interested parties can visit the SEC's website and search for CRD No. 288566. Cresset encompasses Cresset Capital Management and all of its subsidiaries and affiliates, offering investment advisory, family office, and other services to individuals, families, and institutional clients. Additionally, Cresset Partners, LLC focuses specifically on providing investment advisory services to investment vehicles involved in private equity, real estate, and other investment opportunities. Both Cresset Asset Management, LLC and Cresset Partners, LLC are registered investment advisors.

Key Insights:

Has 87.6% of their assets with High-net-worth individuals
Works with platforms including: Ameriprise | Black Diamond | eMoney | Envestnet | JP Morgan | Orion | Tamarac | Vanilla.
CRESSET ASSET MANAGEMENT, LLC has 20 teams under it.
Works with high-net-worth individuals & accredited investors
Lists 54.6% of their SMA assets with Fidelity/Nfs
Offers: 529 Plans
Advisory clients increased from 3,961 to 4,553
Number of employees increased from 402 to 468
Total AUM increased 18.1% ($52,506,642,484 to $62,017,355,005)

4) Fiducient Advisors – $68B AUM

Fiducient Advisors specializes in institutional investment consulting, serving corporate retirement plans, endowments and foundations. The Chicago-based firm provides fiduciary oversight, manager selection and investment policy development through a research-driven approach.

Key Insights:

Has 41.4% of their assets with Retirement Plans
Works with platforms including: Black Diamond | Orion.
Works with high-net-worth individuals & accredited investors
Lists 56.4% of their SMA assets with Charles Schwab & Company
Offers: Asset Management, Business Succession, and Estate Planning
Advisory clients increased from 2,042 to 2,087
Total AUM increased 21% ($55,897,061,358 to $67,638,977,771)
Number of employees increased from 215 to 218

5) CIBC Private Wealth Advisors – $61B AUM

CIBC Family Office offers specialized services catered to the unique needs of ultra high-net-worth, multi-generational families who possess assets worth more than $50 million. The team at CIBC Family Office employs a personalized and customized approach to meet their clients' requirements, ensuring they receive the utmost level of service. In addition to this, CIBC Family Office provides a range of services that go beyond traditional offerings, enabling these affluent families to effectively manage and grow their wealth.

Key Insights:

Has 49.6% of their assets with High-net-worth individuals
Works with platforms including: SEI Investments | Vanilla.
Works with high-net-worth individuals
Lists 60.3% of their SMA assets with Charles Schwab & Company
Offers: Asset Management, Business Succession, and Charitable Giving
Advisory clients decreased from 13,746 to 13,745
Number of employees increased from 539 to 570
Total AUM increased 6.6% ($57,308,548,955 to $61,112,966,756)

6) Kovitz Investment Group Partners – $32B AUM

Founded in 1997, employee-owned Kovitz delivers value-oriented investment management and comprehensive financial planning. The Chicago-based firm has built deep relationships with affluent families and institutions through its research-driven culture and long-term investment approach.

Key Insights:

Experienced top 98.6% AUM growth compared to $1B+ RIAs with 1.8% AUM growth.
Has 62% of their assets with High-net-worth individuals
Works with platforms including: Adhesion | Adhesion Wealth | Ameriprise | CAIS | eMoney | Envestnet | Envestnet MoneyGuide | JP Morgan | Orion | PONTERA | SMArtX | Tamarac.
Works with high-net-worth individuals
Lists 39.5% of their SMA assets with Fidelity/Nfs
Offers: 529 Plans, Asset Management, and Business Succession
Advisory clients increased from 4,054 to 16,736
Number of employees decreased from 392 to 372
Total AUM increased 181% ($11,290,749,061 to $31,731,798,984)

7) CapStrat – $21B AUM

Based in Oakbrook Terrace, CapStrat is a boutique investment consulting firm specializing in institutional asset allocation and manager selection. The employee-owned partnership serves corporate retirement plans and endowments with customized investment policy development.

Key Insights:

Has 87.3% of their assets with Retirement Plans
Lists 42.8% of their SMA assets with Fidelity/Nfs
Offers: Asset Management, Charitable Giving, and College Planning
Advisory clients decreased from 346 to 338
Number of employees increased from 22 to 23
Total AUM increased 11.2% ($19,147,821,636 to $21,292,246,925)

8) GeoWealth Management – $14B AUM

Chicago-based GeoWealth Management is a technology-forward RIA providing model portfolio management and direct indexing strategies. The firm's proprietary platform enables mass customization of investment solutions while maintaining institutional-quality research.

Key Insights:

Has 61.4% of their assets with Individuals
Works with platforms including: Envestnet | GeoWealth | iCapital.
Works with high-net-worth individuals
Lists 72.9% of their SMA assets with Charles Schwab & Company
Offers: 529 Plans
Advisory clients increased from 49,816 to 50,134
Total AUM increased 10.4% ($12,333,268,007 to $13,610,973,546)
Number of employees increased from 45 to 60

9) The Mather Group – $12B AUM

The Mather Group is a comprehensive wealth management firm serving high-net-worth families and business owners from downtown Chicago. Founded in 1999, the employee-owned partnership emphasizes long-term relationships and integrated financial planning.

Key Insights:

Has 94.1% of their assets with High-net-worth individuals
Works with platforms including: eMoney.
Works with high-net-worth individuals
Lists 56.0% of their SMA assets with Fidelity/Nfs
Offers: Asset Management, Business Succession, and Estate Planning
Advisory clients increased from 4,246 to 4,261
Number of employees increased from 163 to 186
Total AUM increased 11.4% ($10,508,543,012 to $11,710,038,016)

10) QRG Capital Management – $11B AUM

QRG Capital Management is a Chicago-based boutique investment advisor specializing in equity and fixed-income strategies for affluent individuals and institutions. The firm employs a concentrated portfolio approach with fundamental research focus.

Key Insights: