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Top 10 Leading RIAs in the Chicago Metro Area

By: Tim Dolan, Vice President, Institutional Sales

Originally posted on October 01, 2020
Last updated on April 27, 2022

One of the biggest problems when selling to the RIA (Registered Investment Adviser) marketplace is the sheer size of the channel. The RIA marketplace across the United States consists of over 36,000 firms, which means that while there are plenty to choose from when looking for new clients, shrinking the list down to only those that allocate to outside managers is key. For example, here at Dakota, where we’ve raised over $6 billion from over 350 RIAs, and we qualify and curate our list to only RIAs that allocate to outside managers (which are the firms we sell for).

In an effort to help narrow down the sheer size of the market, we’ve put together a list of the top 10 RIAs in each major metro area across the country. To determine our list, we looked for three things:

1. An AUM above $200 million
2. A dedicated analyst team
3. An RIA that actively allocates capital to outside investment management firms

We have qualified 40 RIAs with AUMs ranging from $57B to $50.3M in Chicago that meet our criteria. We actively call on these RIAs, and all 40 are in our “shared CRM database,” Dakota Marketplace. Below are the top 10 RIAs from that list. However, this is by no means a “best of” list, as there are so many high quality RIAs in Chicago and around the country. We just wanted to give you a place to start.

1. CIBC Private Wealth
AUM: $57,000,000,000

2. William Blair
AUM: $32,411,671,934

3. Mesirow Financial
AUM: $30,500,000,000

4. Cresset Wealth Advisors
AUM: $4,500,000,000

5. Springtide Partners
AUM: $4,000,000,000

6. Crescent Grove Advisors
AUM: $1,644,716,241

7. Strategic Wealth Partners LLC
AUM: $1,447,984,198

8. ArchPoint Investors
AUM: $1,025,355,888

9. Vantage Financial Partners
AUM: $451,080,275

10. Promus Capital
AUM: $850,000,000

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