DFX Intelligence
RIA Intelligence
Registered investment advisers, the advisors registered through them, the capital they report, the private vehicles they run and the people who own them, as a graph with a filing date behind every number. RAUM is what the adviser filed, a move is two registration dates, and a class is a rule you can read.
SEC-registered adviser
Chicago Investment Advisory Council, Inc.
Latest filing Mar 31, 2026
First filing on the tape Mar 26, 2021 · 7 filings
SEC status approved since Apr 26, 2021
RAUM
$230M
reported, Item 5.F
Discretionary
100%
of RAUM
Private clients
96%
$220M individuals and HNW
Advisors
5
registered through the firm on IAPD
RAUM per advisor
$46.0M
derived; firm RAUM over IAPD count
Employees
11
5 advisory (5.B.1)
Offices
2
beyond the principal office
Private funds
0
reported on Schedule D
History
7 filings and snapshots on the tape
RAUM$230M as of Mar 31, 2026
Mar 25, 2022$155M then
HNW client RAUM$140M as of Mar 31, 2026
Mar 25, 2022$60.6M then
State-registered IARs (5.B.3)0 as of Mar 31, 2026
Mar 25, 20224 then
Employees (5.A)11 as of Mar 31, 2026
Mar 25, 202216 then
Private funds: no history
RAUM +21% over the last fiscal year+18% a year over threeIARs 0 to 0offices 3 to 2
Practice profile
derived from the filing of Mar 31, 2026; every figure names its basis
Archetypes, each a printed rule
- HNW wealth manager · private-client share of RAUM at least 50 percent and HNW share of private-client RAUM 50 to 90 percent
- Independent boutique · a wealth manager with no broker-dealer, bank or insurance affiliate, 2 to 25 advisors, one to three offices, no public reporting company control
- RAUM per advisor
- $46.0MderivedRAUM over IAPD advisors; not a book size
- Clients per advisor
- 220derivedindividual and HNW clients (5.D) over advisors
- Average HNW client
- $1.4MderivedHNW RAUM over HNW clients
- Average account
- $153,333derivedRAUM over accounts (5.F.2.f)
- Discretionary
- 100%derivedof RAUM
- Institutional
- 4.3%derivedpensions, charities, corporations, government, insurance, banks, other advisers
- Employees per advisor
- 2.2derivedItem 5.A over advisors
- Advisors per office
- 1.7derived3 offices incl. principal (1.F.5)
- RAUM growth, one year
- +21%derivedbetween the last two annual amendments
- Advisor growth, one year
- unknownderivedItem 5.B.3 between annual amendments
- Client growth, one year
- +1.9%derived
- Compensation
- percentage of assets, hourly, fixed feesreportedItem 5.E
- Advisory activities
- financial planning, portfolio management for individuals, pension consulting, educational seminarsreportedItem 5.G
- Ownership
- no PE, bank or public-company owner found on Schedule Aderived
- Advisor book size
- not public; not estimatedreported
Also answered yes on Form ADV
- is an insurance broker or agent (6.A.6)
- buys or sells securities as principal to or from clients (8.A.2)
- has discretionary authority over which securities are bought or sold (8.C.1)
Where the RAUM sits
Form ADV Item 5.D, latest filing
- High-net-worth individuals$140M61%
- Individuals$80.0M35%
- Pension and profit-sharing plans$10.0M4.3%
- Individual clients
- 1,000reported
- HNW clients
- 100reported
- Pension plan clients
- 5reported
- Charitable clients
- 0reported
- Accounts
- 1,500reported
- Financial planning clients
- 251-500reported
- Wrap fee programs
- noreported
- Custody of client assets
- noreported
- Compensation
- % of AUM, fixed, hourlyreported
- Class basis
- private_client_share=0.96 fund_share=0.0 institutional_share=0.04 related_bd=false related_bank=false bd_reps=3.0derived
Advisors registered through the firm
5 on IAPD today, longest tenure first
| Name | Branch | Here since | In industry | Prior firms |
|---|---|---|---|---|
| John Elbert Davis | Jun 2, 1998 | 30 y | 1 | |
| Michael John Fulkerson | St. Charles, Il | Jul 20, 2011 | 24 y | 2 |
| Ronny K Mark | St. Charles, Il | Oct 17, 2016 | 32 y | 3 |
| Xavier Alexander Brown | St. Charles, Il | Aug 26, 2026 | 10 y | 1 |
| Scott Daniel Graziano | St. Charles, Il | Aug 28, 2026 | 11 y | 1 |
Advisor movement
2 left, 2 joined in 12 months
net 0 in 12 months2 left in 90 days2 joined in 90 daysdeparture rate 40% of current headcount2 left over 36 months
Left, latest
- Bradley Russell Saurbaugh to Harbour Investments, Inc.Aug 26, 2026 · RIA to RIA
- John Anthony Michalak to Harbour Investments, Inc.Aug 19, 2026 · RIA to RIA
- Michael Anthony Russo to Chicago Investment Advisory GroupNov 15, 2007 · Other
- Guillermo Diva Delfin to American General Securities IncorporatedNov 15, 2007 · Other
- David John Draper to American General Securities IncorporatedNov 15, 2007 · Other
Joined, latest
- Scott Daniel Graziano from J. W. Cole Advisors, Inc.Aug 28, 2026 · Affiliated broker-dealer or bank to independent RIA
- Xavier Alexander Brown from J. W. Cole Advisors, Inc.Aug 26, 2026 · Affiliated broker-dealer or bank to independent RIA
- Ronny K Mark from Uhlmann Investment Management, L.L.C.Oct 17, 2016 · Other
- Michael John Fulkerson from Waddell & ReedJul 20, 2011 · Other
- John Anthony Michalak from Waddell & ReedFeb 4, 2011 · Other
- Bradley Russell Saurbaugh from Waddell & ReedFeb 4, 2011 · Other
Teams: two or more advisors moving together within fourteen days, from one state
- 2 left for Harbour Investments, Inc.Aug 19, 2026 · St Charles, Il
Private funds
No private fund reported.
Owners and control persons
Schedule A and B, latest filing
- Elbert John Davis · President And Chief Compliance Officercontrolsince 09/1997 · owns 75% or more
Related persons
Schedule D 7.A
No related person reported.
Office movement
IAPD branch city; joins and departures in 12 months
| Office | Advisors | Joined | Left | Teams out | Forming |
|---|---|---|---|---|---|
| St Charles, Il | 4 | 2 | 2 | 1 |
Offices
Schedule D 1.F, the 25 largest
- Chicago, IL2 employees
- Chicago, IL1 employees
- Ft. Lauderdale, FL1 employees
What changed
consecutive filings, newest first
- Accounts · 1,600 to 1,500Apr 1, 2025 to Mar 31, 2026
- HNW clients · 80 to 100Apr 1, 2025 to Mar 31, 2026
- Other offices · 3 to 2Apr 1, 2025 to Mar 31, 2026
- Discretionary RAUM · $190M to $230MApr 1, 2025 to Mar 31, 2026
- HNW RAUM · $100M to $140MApr 1, 2025 to Mar 31, 2026
- RAUM · $190M to $230MApr 1, 2025 to Mar 31, 2026
- Accounts · 1,090 to 1,600Apr 5, 2024 to Apr 1, 2025
- HNW clients · 40 to 80Apr 5, 2024 to Apr 1, 2025
- Individual clients · 1,050 to 1,000Apr 5, 2024 to Apr 1, 2025
- Pension plan clients · 6 to 5Apr 5, 2024 to Apr 1, 2025
- Financial planning clients · 251-500 to 251-500Apr 5, 2024 to Apr 1, 2025
- Discretionary RAUM · $160M to $190MApr 5, 2024 to Apr 1, 2025
- HNW RAUM · $80.0M to $100MApr 5, 2024 to Apr 1, 2025
- Individual RAUM · $70.0M to $80.0MApr 5, 2024 to Apr 1, 2025
- RAUM · $160M to $190MApr 5, 2024 to Apr 1, 2025
- Accounts · 1,034 to 1,090Mar 29, 2023 to Apr 5, 2024
- Advisory employees · 7 to 5Mar 29, 2023 to Apr 5, 2024
- HNW clients · 35 to 40Mar 29, 2023 to Apr 5, 2024
- Individual clients · 995 to 1,050Mar 29, 2023 to Apr 5, 2024
- Pension plan clients · unset to 6.0Mar 29, 2023 to Apr 5, 2024
- Employees · 16 to 11Mar 29, 2023 to Apr 5, 2024
- State-registered IARs · 4 to 0Mar 29, 2023 to Apr 5, 2024
- Discretionary RAUM · $140M to $160MMar 29, 2023 to Apr 5, 2024
- HNW RAUM · $65.0M to $80.0MMar 29, 2023 to Apr 5, 2024
- Individual RAUM · $57.0M to $70.0MMar 29, 2023 to Apr 5, 2024
- Pension RAUM · $18.0M to $10.0MMar 29, 2023 to Apr 5, 2024
- RAUM · $140M to $160MMar 29, 2023 to Apr 5, 2024
- Accounts · 1,444 to 1,034Feb 6, 2023 to Mar 29, 2023
- HNW clients · 31 to 35Feb 6, 2023 to Mar 29, 2023
- Individual clients · 986 to 995Feb 6, 2023 to Mar 29, 2023
- Assets in custody · 52000000.0 to unsetFeb 6, 2023 to Mar 29, 2023
- Custody of client assets · true to falseFeb 6, 2023 to Mar 29, 2023
- Financial planning clients · 11-25 to 251-500Feb 6, 2023 to Mar 29, 2023
- Discretionary RAUM · $155M to $140MFeb 6, 2023 to Mar 29, 2023
- HNW RAUM · $60.6M to $65.0MFeb 6, 2023 to Mar 29, 2023
- Individual RAUM · $85.7M to $57.0MFeb 6, 2023 to Mar 29, 2023
- Pension RAUM · $9.0M to $18.0MFeb 6, 2023 to Mar 29, 2023
- RAUM · $155M to $140MFeb 6, 2023 to Mar 29, 2023
- Accounts · 1,150 to 1,444Mar 26, 2021 to Mar 25, 2022
- Advisory employees · 5 to 7Mar 26, 2021 to Mar 25, 2022
Signals
4 dated events
- Bradley Russell Saurbaugh left Chicago Investment Advisory Council, Inc. for Harbour Investments, Inc. (registered 2026-08-17)Aug 26, 2026 · Advisor changed firm · fact
- John Anthony Michalak left Chicago Investment Advisory Council, Inc. for Harbour Investments, Inc. (registered 2026-09-01)Aug 19, 2026 · Advisor changed firm · fact
- 2 advisors left Chicago Investment Advisory Council, Inc. (ST Charles, IL) for Harbour Investments, Inc. within 7 daysAug 19, 2026 · Team lift-out · derived
- Chicago Investment Advisory Council, Inc. filed its initial SEC registration (Form ADV)Mar 26, 2021 · First SEC registration · fact
Across DFX
shared identifiers only, never a name match
No identifier-backed link to the venture, private equity, family office or sponsor graphs.
How to reach
public business contact points only, each with its source
- Business email
- info@ciacinc.comreportedpublished by the firm, firm site, Sep 16, 2026
- Business email
- scotty@ciacinc.comreportedpublished by the firm, firm site, Sep 16, 2026
- Business email
- sjung@ciacinc.comreportedpublished by the firm, firm site, Sep 16, 2026
- Business email
- krandall@ciacinc.comreportedpublished by the firm, firm site, Sep 16, 2026
- Business email
- jmayfield@ciacinc.comreportedpublished by the firm, firm site, Sep 16, 2026
- Business email
- jzhou@ciacinc.comreportedpublished by the firm, firm site, Sep 16, 2026
- Business phone
- 630-444-1410reportedpublished by the firm, firm site, Sep 16, 2026
- Firm profile
- linkedin.com/company/chicago-investment-advisory-councilreportedpublic record, Form ADV, Sep 17, 2026
- Website
- CIACINC.COMreportedpublic record, Form ADV, Sep 17, 2026
- Principal office phone
- 630-444-1410reportedpublic record, Form ADV, Mar 31, 2026
- Contact form
- CIACINC.COM/contact.4.htmreportedpublished by the firm, firm site, Sep 16, 2026
Provenance
- Form ADV
- SEC filing data 2011 to 2024 and the monthly roster 2025 onreportedadviserinfo.sec.gov
- Advisors
- IAPD individual compilation feed, dailyreportedadviserinfo.sec.gov
- Class
- Independent wealth managerderiveda rule over Items 5.D and 7.A
- RAUM per advisor
- $46.0Mderivedfirm RAUM over the IAPD count; not a book size
- Loaded
- Sep 14, 2026