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3 Largest Registered Investment Advisors (RIAs) in Illinois

February 25, 2021

The need for unbiased wealth management has become increasingly prominent as the world continues to shift towards a remote reality and registered investment advisors (RIAs) are at the center of this trend. With growing uncertainty in the markets today, businesses and high-net-worth individuals are turning to RIAs for their self-governing nature, fiduciary value and sophisticated financial expertise. In an effort to shine a light on the RIA space, FINTRX explores three of the largest registered investment advisors (RIAs) based in Illinois...


northern trust investments inc.1. Northern Trust Investments, Inc. = ~$873B+ in AUM

Founded in 1989, Northern Trust Investments, Inc. is a leading provider of wealth management and banking services to corporations, institutions, high-net-worth families and individuals. Northern Trust has a global presence with nearly 20,000 employees across offices, offices in 22 U.S. states and across 22 locations in Canada, Europe, the Middle East and the Asia-Pacific region. For more than 130 years, Northern Trust has earned distinction as an industry leader for exceptional service, financial expertise, integrity and innovation.

Quick Hitters:

- Founded: 1989
- Headquarters: Chicago, IL
- Discretionary Assets: ~$873B+
- Non-Discretionary Assets: $0
- Total AUM: ~$873B+
- Specialties: Asset management, corporate and institutional services, financial technology, private banking, trust and estate services, capital markets, securities services, retirement solutions, fund services, equity, mutual funds, global family office services, business owner services, fixed income, regulatory services and liquidity 


Citadel2. Citadel Advisors, LLC = ~$234B+ in AUM

Established in 1990, Citadel Advisors, LLC is a privately held, Chicago-Illinois-based investment advisor employing a range of strategies in an effort to deliver market-leading investment returns to its capital partners. Clients include corporate pensions, endowments, foundations, public institutions and sovereign wealth funds. Citadel works to help clients’ capital fulfill its greatest potential across a diverse range of markets and investment strategies, including fixed income & macro, equities, quantitative, commodities and credit. As a leading investor in the world's financial markets, Citadel empowers the most talented minds in finance combined with fundamental research, predictive analytics and leading-edge technology to identify new opportunities.

Quick Hitters:

- Founded: 1990
- Headquarters: Chicago, IL
- Discretionary Assets: ~$234B+
- Non-Discretionary Assets: $0
- Total AUM: ~$234B+
- Specialties: Hedge funds 


lgim america3. Legal & General Investment Management America Inc. (LGIMA) = ~$223B+ in AUM

Founded in 2006, Legal & General Investment Management America Inc. (LGIMA) is a Chicago, Illinois-based investment advisor helping people achieve their long-term financial goals. LGIMA offers a range of strategies to help its institutional clients manage their investment objectives, which often range from market-based strategies to those designed to be more liability-centric. Clients include pension plans, foundations & endowments, unions, and public funds. As a firm, LGIMA has professional resources dedicated to insuring that its portfolios are structured in a risk-conscious manner, but can still produce excess returns over an appropriate benchmark. LGIMA is the affiliate of London-based Legal & General Investment Management (LGIM), one of Europe’s largest institutional asset managers and a global investor, with a heritage dating back to 1836.

Quick Hitters:

- Founded: 2006
- Headquarters: Chicago, IL
- Discretionary Assets: ~$223B+
- Non-Discretionary Assets: $0
- Total AUM: ~$223B+
- Specialties: Fixed income, liability driven investment (LDI) solutions and index capabilities for the US institutional market


RIA Review:

In general terms, a registered investment advisor (RIA) is a firm advising or managing the wealth of high-net-worth individuals or institutions. Directly regulated by the Securities Exchange Commission (SEC), RIAs offer a wide range of financial services from wealth and investment management to direct lending and personal finance education, etc. An important distinction regarding RIAs is the fiduciary obligation to always act in the best interest of their clients.

For more information on RIAs, check out our recent blog post: Exploring the Registered Investment Advisor (RIA) Channel, or visit the FINTRX Resource Library below.


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Written by: Renae Hatcher

Renae Hatcher is member of the marketing team at FINTRX - focused on delivering targeted & relevant family office content to our subscribers.

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