3 Largest Registered Investment Advisors (RIAs) in Illinois

2. 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 

3. 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.