Top RIAs in Chicago (2026 Update): Chicagoland's Largest Wealth Management Firms by AUM

Chicago has long been a center of gravity for American finance, home to the CME Group, a deep bench of asset managers, and a wealth management community that ranges from century-old, family-run advisory shops to some of the fastest-growing RIA platforms in the country. Using AdvizorPro's advisor intelligence platform, we set out to rank the largest independent RIAs serving Chicago-area clients by assets under management.

You can also check out our breakdown of the Top RIAs in Boston or browse our full Top 100 Independent RIAs list for a national view.

We ranked firms using AdvizorPro's dataset of SEC-registered investment advisers headquartered in Chicago and the surrounding metro area, sorted by total assets under management. All key insights are based on data as of September 2026.

The Top 20 RIAs in Chicago and Chicagoland by AUM

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1. Hightower Advisors, LLC ($198.6B AUM)

Founded in 2008 and headquartered in Chicago's Loop, Hightower Advisors has grown into one of the largest RIA platforms in the country, bringing together more than 100 partner wealth management teams under a single registration while letting each team keep its own brand and client relationships.

Key Insights:

• Client base is 79.3% high-net-worth individuals and 10.8% individuals, with the remainder split across corporations, charities, and retirement plans
• Operates 416 branch offices and employs 1,983 people serving 64,535 advisory clients
• AUM grew 21% over the past year, up from $164.8B to $198.6B
• Custodial relationships with Fidelity, Charles Schwab, and Pershing
• Offers access to alternative investments, private equity, and private credit alongside traditional financial planning and estate planning services

2. Cresset Asset Management, LLC ($78.9B AUM)

Founded in 2017, Cresset operates as a multi-family office built around ultra-high-net-worth families, business owners, and entrepreneurs, offering a blend of investment management, tax planning, and family office services.

Key Insights:

• 88.4% of assets belong to high-net-worth clients
• 496 employees and 212 advisory reps serve 4,924 clients across 66 offices
• AUM grew 10% in the latest filing period and has grown roughly ninefold since 2019
• Offers business succession planning, estate planning, and access to private equity and venture capital
• Custodial relationships with Fidelity, Pershing, Charles Schwab, and UBS

3. William Blair ($64.3B AUM)

Founded in 1947, William Blair operates as both a broker-dealer and an investment adviser, combining institutional investment banking with a long-standing private wealth management practice for individuals and families.

Key Insights:

• Client base is 70.6% high-net-worth individuals and 11.4% individuals
• 492 employees are dedicated to wealth management, serving 38,171 advisory clients
• AUM grew 10% over the past year
• Offers equity compensation planning, legacy planning, and access to alternative investments including private equity and venture capital
• Custodial relationship primarily with Fidelity

4. The Mather Group, LLC ($13.4B AUM)

Founded in 2011 and based in Chicago, The Mather Group is a fee-only, commission-free RIA built around retirement planning and legacy planning for individuals and families.

Key Insights:

• 90.8% of assets belong to high-net-worth clients, with another 9.1% held by individuals
• 186 employees across 37 offices serve 4,774 advisory clients
• AUM grew 15% over the past year and has grown nearly fivefold since 2019
• Custodial relationships with Fidelity and Charles Schwab, among others
• Offers financial planning, estate planning, and access to alternative investments

5. Forum Financial Management, LP ($8.7B AUM)

Founded in 2009 and headquartered in Lombard, Forum Financial Management operates as a fiduciary wealth management firm that has grown by bringing independent advisory practices together under one platform.

Key Insights:

• Client base is 65.2% high-net-worth individuals and 16.5% individuals
• 143 employees across 75 branch offices serve 5,996 advisory clients
• Works with Dimensional Fund Advisors and custodies primarily through Charles Schwab
• Offers 529 plans, business succession planning, and retirement plan services
• Reported an annual surprise examination, consistent with firms that maintain custody of client assets

6. JMG Financial Group Ltd ($7.5B AUM)

Founded in 1985 and based in Downers Grove, JMG Financial Group is a longstanding independent advisory firm serving high-net-worth families.

Key Insights:

• 96.9% of assets belong to high-net-worth clients
• 103 employees and 48 advisory reps serve 1,928 clients
• AUM grew 18% over the past year
• Custodial relationship primarily with Charles Schwab
• Offers financial planning, retirement plan consulting, and selection of other advisers for clients seeking outside fund managers

7. Chicago Partners Investment Group LLC ($7.5B AUM)

Founded in 2008 and operating under the Chicago Partners Wealth Advisors brand, this Chicago-based firm has expanded well beyond its home market with offices as far afield as Hawaii and Florida.

Key Insights:

• Client base is 77.9% high-net-worth individuals and 16.4% individuals
• 73 employees and 54 advisory reps serve 2,764 clients
• AUM grew 25% over the past year
• Offers access to digital assets, private equity, and venture capital alongside traditional planning services
• Custodial relationships with Charles Schwab and Fidelity

8. VestGen Advisors, LLC ($6.7B AUM)

Headquartered in Chicago and formerly known as Optimum Investment Advisors, VestGen has grown rapidly by bringing together a large number of independent practices, including the Wealth Management Group brand, under one registration.

Key Insights:

• Client base is nearly evenly split between high-net-worth clients (51.4%) and individuals (48.6%), reflecting a broader retail footprint than most firms on this list
• 165 employees and 59 advisory reps across 28 branches serve 22,790 clients
• AUM grew 92% over the past year
• Custodial relationships with Charles Schwab, Fidelity, and Pershing
• Offers 529 plans, retirement plan services, and selection of other advisers

9. LaSalle St. Investment Advisors, L.L.C. ($5.7B AUM)

Founded in 1989 and based in Elmhurst, LaSalle St. Investment Advisors operates as a hybrid broker-dealer and RIA network, supporting a large roster of independent advisor teams across the Chicago suburbs and beyond.

Key Insights:

• Client base is nearly evenly split between high-net-worth individuals (46.5%) and individuals (44.0%), with the remainder in retirement plans and corporate accounts
• 155 employees and 159 advisory reps across 106 branch offices serve 14,284 advisory clients, the largest client base on this list
• AUM grew 32% over the past year
• Custodial relationship primarily with Fidelity/NFS
• Offers financial planning, pension consulting, and portfolio management for individuals and small businesses, with technology platform integrations including Orion, Tamarac, and Envestnet

10. Crescent Grove Advisors ($5.5B AUM)

Founded in 2014 and based in Lake Forest, Crescent Grove Advisors is an employee-owned firm offering concierge-style, family office services to ultra-high-net-worth families.

Key Insights:

• 92.9% of assets belong to high-net-worth clients
• 34 employees and 21 advisory reps serve 390 clients across 6 offices
• AUM grew 10% over the past year
• Offers business succession planning, charitable giving strategies, and access to private equity, hedge funds, and real estate
• Custodial relationship primarily with Fidelity

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11. Calamos Wealth Management LLC ($5.5B AUM)

Based in Naperville, Calamos Wealth Management is the private wealth arm of Calamos Investments, serving individuals, families, athletes, and entrepreneurs.

Key Insights:

• 82.1% of assets belong to high-net-worth clients, with another 6.3% held by individuals
• 51 employees across 21 branches serve 4,308 clients
• AUM grew 34% over the past year
• Offers access to cryptocurrency, venture capital, private credit, and private equity
• Custodial relationships include Fidelity, Charles Schwab, and Citibank

12. Highpoint Planning Partners ($4.8B AUM)

Founded in 2021 and based in Downers Grove, Highpoint Planning Partners has grown quickly by bringing dozens of independent financial planning practices together under one roof.

Key Insights:

• Client base is 72.1% high-net-worth individuals and 25.7% individuals
• 106 employees across 73 branch offices serve 10,348 advisory clients
• AUM grew 20% over the past year
• Custodies primarily through LPL Financial
• Offers estate planning, charitable giving, and tax planning services

13. Performance Wealth ($4.1B AUM)

Founded in 2021 and based in Hinsdale, Performance Wealth has grown quickly into a sizable regional wealth management practice.

Key Insights:

• 75.2% of assets belong to high-net-worth clients, with corporate clients making up another 17.6%
• 15 employees and 11 advisory reps serve 953 clients across 3 offices
• AUM grew 21% over the past year
• Custodial relationships with Charles Schwab and Northern Trust
• Offers wealth planning, estate planning, and tax planning services

14. Capstone Financial Advisors Inc ($2.9B AUM)

Founded in 1999 and based in Downers Grove, Capstone Financial Advisors is a fee-only RIA serving high-net-worth families and business owners.

Key Insights:

• 90.5% of assets belong to high-net-worth clients
• 30 employees and 17 advisory reps serve 1,078 clients
• AUM grew 17% over the past year
• Custodial relationship primarily with Charles Schwab
• Offers financial planning, retirement plan consulting, and selection of other advisers

15. Feldman, Ingardona & Co. ($1.7B AUM)

Founded in 1992 and based in Downers Grove, Feldman, Ingardona & Co. is a boutique advisory firm built around a small number of high-net-worth relationships.

Key Insights:

• 91.1% of assets belong to high-net-worth clients
• Just 6 employees and 6 advisory reps serve 184 clients, giving the firm one of the highest average account sizes on this list at roughly $9.2M
• AUM grew 14% over the past year
• Custodial relationship primarily with Fidelity
• Offers portfolio management for both individuals and institutional clients

16. Romano Brothers and Company ($1.5B AUM)

Founded in 1963 and based in Evanston, Romano Brothers and Company is a longstanding North Shore firm operating as both a broker-dealer and investment adviser.

Key Insights:

• 81.9% of assets belong to high-net-worth clients, with individuals making up another 12%
• 16 employees and 13 advisory reps serve 969 clients
• AUM grew 11% over the past year
• Custodial relationship primarily with Wells Fargo
• Offers business succession planning, estate planning, and retirement plan services

17. Vertex Partners ($1.0B AUM)

Founded in 2022 and based in Downers Grove, Vertex Partners serves individuals, affluent families, and middle-market business owners.

Key Insights:

• Client base is 76.2% high-net-worth individuals and 23.4% individuals
• 20 employees and 13 advisory reps serve 846 clients
• AUM grew 22% over the past year
• Custodies primarily through LPL Financial and Charles Schwab
• Offers equity compensation planning, estate planning, and generational wealth transfer strategies

18. MPS-Loria Financial Planners, LLC ($826.6M AUM)

Founded in 1999 and based in Burr Ridge, MPS-Loria Financial Planners describes itself as an independent, fiduciary wealth management firm.

Key Insights:

• 81.5% of assets belong to high-net-worth clients, with individuals making up the remaining 18.5%
• 7 employees and 7 advisory reps serve 692 clients
• AUM grew 10% over the past year
• Custodial relationship primarily with Charles Schwab
• Offers business succession planning, estate planning, and wealth planning services

19. Total Clarity Wealth Management, Inc ($755.4M AUM)

Founded in 2007 and based in St. Charles, Total Clarity Wealth Management serves business owners and entrepreneurs across 13 office locations.

Key Insights:

• 69.2% of assets belong to high-net-worth clients, with individuals making up another 30.7%
• 26 employees and 23 advisory reps serve 1,045 clients
• AUM grew 24% over the past year
• Custodies primarily through Charles Schwab and LPL Financial
• Offers business succession planning, legacy planning, and tax planning services

20. DHJJ Financial Advisors ($623.4M AUM)

Founded in 1992 and based in Naperville, DHJJ Financial Advisors grew out of the DHJJ accounting and CPA practice and serves high-net-worth business owners and entrepreneurs.

Key Insights:

• 87.2% of assets belong to high-net-worth clients
• 11 employees and 7 advisory reps serve 436 clients across 2 offices
• AUM grew 15% over the past year
• Custodial relationship primarily with Charles Schwab
• Offers 529 plans, estate planning, and retirement plan services

Closing Thoughts

Chicago's wealth management landscape looks different depending on where you draw the boundary. Inside the city limits, the story is dominated by a handful of very large firms: Hightower, Cresset, William Blair, and The Mather Group alone account for more than $355 billion of the $420 billion tracked in this ranking. Move a few miles into the suburbs, though, and you find a deep bench of firms in the $500 million to $10 billion range built around specific communities, from Naperville and Downers Grove to Lake Forest and Evanston.

That range matters for anyone trying to reach Chicago-area advisors. A distribution strategy built only around the largest downtown names will miss most of the firms actually growing fastest, several of the firms on this list posted 20% or higher year-over-year AUM growth. For a broader national view, check out our Top 100 Independent RIAs list or our breakdown of the Top RIAs in Boston.

About AdvizorPro

AdvizorPro is the advisor intelligence platform built for asset managers, ETF issuers, wealthtechs, and distribution teams that need to identify, prioritize, and engage financial advisors. With verified data across 750,000+ RIAs, family offices, and broker-dealers, combined with AI-powered lead scoring, TrafficIQ visitor intelligence, native CRM integrations, and now direct connectivity to Claude and ChatGPT, AdvizorPro powers the go-to-market strategies of leading firms across the wealth management ecosystem.

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