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 Group
Legal name Michael Russo Ltd
Latest filing Mar 20, 2026
First filing on the tape Feb 2, 2012 · 17 filings
SEC status approved since Jul 5, 2019
RAUM
$275M
reported, Item 5.F
Discretionary
100%
of RAUM
Private clients
97%
$266M individuals and HNW
Advisors
7
registered through the firm on IAPD
RAUM per advisor
$39.3M
derived; firm RAUM over IAPD count
Employees
7
7 advisory (5.B.1)
Offices
2
beyond the principal office
Private funds
0
reported on Schedule D
History
17 filings and snapshots on the tape
RAUM$275M as of Mar 20, 2026
Feb 2, 2012$41.6M then
HNW client RAUM$114M as of Mar 20, 2026
Mar 12, 2020$21.9M then
State-registered IARs (5.B.3)7 as of Mar 20, 2026
Feb 2, 20120 then
Employees (5.A)7 as of Mar 20, 2026
Mar 12, 20205 then
Private funds: no history
RAUM +11% over the last fiscal year+18% a year over threeIARs 7 to 7
Practice profile
derived from the filing of Mar 20, 2026; every figure names its basis
Archetypes, each a printed rule
- 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
- $39.3MderivedRAUM over IAPD advisors; not a book size
- Clients per advisor
- 107derivedindividual and HNW clients (5.D) over advisors
- Average HNW client
- $2.1MderivedHNW RAUM over HNW clients
- Average account
- $144,036derivedRAUM over accounts (5.F.2.f)
- Discretionary
- 100%derivedof RAUM
- Institutional
- 3.4%derivedpensions, charities, corporations, government, insurance, banks, other advisers
- Employees per advisor
- 1.0derivedItem 5.A over advisors
- Advisors per office
- 2.3derived3 offices incl. principal (1.F.5)
- RAUM growth, one year
- +11%derivedbetween the last two annual amendments
- Advisor growth, one year
- +0.0%derivedItem 5.B.3 between annual amendments
- Client growth, one year
- +5.3%derived
- Compensation
- percentage of assetsreportedItem 5.E
- Advisory activities
- portfolio management for individuals, pension consultingreportedItem 5.G
- Custody
- $184M, 880 clientsreportedItem 9.A
- 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
- 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)
- compensates persons for client referrals (8.G.1)
- compensates non-employees for client referrals (8.G.2)
- has custody of client cash or bank accounts (9.A.1.a)
- has custody of client securities (9.A.1.b)
Where the RAUM sits
Form ADV Item 5.D, latest filing
- Individuals$152M55%
- High-net-worth individuals$114M41%
- Pension and profit-sharing plans$9.2M3.4%
- Individual clients
- 697reported
- HNW clients
- 54reported
- Pension plan clients
- 6reported
- Charitable clients
- n/areported
- Accounts
- 1,910reported
- Financial planning clients
- 0reported
- Wrap fee programs
- noreported
- Custody of client assets
- $184M for 880 clientsreported
- Compensation
- % of AUMreported
- Class basis
- private_client_share=0.97 fund_share=0.0 institutional_share=0.03 related_bd=false related_bank=false bd_reps=0.0derived
Advisors registered through the firm
7 on IAPD today, longest tenure first
| Name | Branch | Here since | In industry | Prior firms |
|---|---|---|---|---|
| Michael Anthony Russo | Mokena, Il | Jun 27, 2007 | 33 y | 2 |
| Steven Michael Jacobson | Mokena, Il | Mar 16, 2009 | 30 y | 0 |
| Joseph Ronald Dawczak | Mokena, Il | Apr 21, 2011 | 15 y | 0 |
| Eric Robert Jacobsen | Mokena, Il | Sep 4, 2020 | 10 y | 0 |
| Michael Anthony Ilg | Mokena, Il | Feb 2, 2022 | 11 y | 0 |
| Dominic Michael Russo | Mokena, Il | Aug 1, 2023 | 13 y | 1 |
| Matthew Alfred Russo | Fort Meyers, Fl | Jun 3, 2024 | 16 y | 0 |
Advisor movement
0 left, 0 joined in 12 months
net 0 in 12 months0 left in 90 days0 joined in 90 daysdeparture rate 0.0% of current headcount0 left over 36 months
Left, latest
none on the tape
Joined, latest
- Dominic Michael Russo from Vanguard Advisers, Inc.Aug 1, 2023 · Affiliated broker-dealer or bank to independent RIA
- Michael Anthony Russo from Chicago Investment Advisory Council, Inc.Jun 27, 2007 · Other
Private funds
No private fund reported.
Owners and control persons
Schedule A and B, latest filing
- Anthony Michael Russo · President And Chief Executive Officercontrolsince 04/2006 · owns 75% or more
- Michael Steven Jacobson · Chief Compliance Officer, Chief Operations Officersince 03/2006 · owns less than 5%
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 |
|---|---|---|---|---|---|
| Mokena, Il · principal | 7 | 0 | 0 |
Offices
Schedule D 1.F, the 25 largest
- , 1 employees
What changed
consecutive filings, newest first
- Accounts · 1,760 to 1,910Mar 24, 2025 to Mar 20, 2026
- HNW clients · 26 to 54Mar 24, 2025 to Mar 20, 2026
- Individual clients · 687 to 697Mar 24, 2025 to Mar 20, 2026
- Pension plan clients · unset to 6.0Mar 24, 2025 to Mar 20, 2026
- Assets in custody · $122M to $184MMar 24, 2025 to Mar 20, 2026
- Discretionary RAUM · $249M to $275MMar 24, 2025 to Mar 20, 2026
- HNW RAUM · $77.2M to $114MMar 24, 2025 to Mar 20, 2026
- Individual RAUM · $172M to $152MMar 24, 2025 to Mar 20, 2026
- Pension RAUM · unset to 9243679.0Mar 24, 2025 to Mar 20, 2026
- RAUM · $249M to $275MMar 24, 2025 to Mar 20, 2026
- Accounts · 1,568 to 1,760Jan 9, 2025 to Mar 24, 2025
- Advisory employees · 6 to 7Jan 9, 2025 to Mar 24, 2025
- HNW clients · 23 to 26Jan 9, 2025 to Mar 24, 2025
- Individual clients · 663 to 687Jan 9, 2025 to Mar 24, 2025
- Assets in custody · $114M to $122MJan 9, 2025 to Mar 24, 2025
- Employees · 6 to 7Jan 9, 2025 to Mar 24, 2025
- Financial planning clients · 0 to 0Jan 9, 2025 to Mar 24, 2025
- State-registered IARs · 6 to 7Jan 9, 2025 to Mar 24, 2025
- Discretionary RAUM · $213M to $249MJan 9, 2025 to Mar 24, 2025
- HNW RAUM · $66.5M to $77.2MJan 9, 2025 to Mar 24, 2025
- Individual RAUM · $146M to $172MJan 9, 2025 to Mar 24, 2025
- RAUM · $213M to $249MJan 9, 2025 to Mar 24, 2025
- Accounts · 1,357 to 1,568Sep 18, 2023 to Mar 18, 2024
- Advisory employees · 5 to 6Sep 18, 2023 to Mar 18, 2024
- HNW clients · 20 to 23Sep 18, 2023 to Mar 18, 2024
- Individual clients · 593 to 663Sep 18, 2023 to Mar 18, 2024
- Assets in custody · $97.5M to $114MSep 18, 2023 to Mar 18, 2024
- Employees · 7 to 6Sep 18, 2023 to Mar 18, 2024
- State-registered IARs · 5 to 6Sep 18, 2023 to Mar 18, 2024
- Other offices · 1 to 2Sep 18, 2023 to Mar 18, 2024
- Discretionary RAUM · $168M to $213MSep 18, 2023 to Mar 18, 2024
- HNW RAUM · $53.4M to $66.5MSep 18, 2023 to Mar 18, 2024
- Individual RAUM · $115M to $146MSep 18, 2023 to Mar 18, 2024
- RAUM · $168M to $213MSep 18, 2023 to Mar 18, 2024
- Accounts · 1,250 to 1,357Dec 9, 2022 to Mar 8, 2023
- Advisory employees · 4 to 5Dec 9, 2022 to Mar 8, 2023
- HNW clients · 23 to 20Dec 9, 2022 to Mar 8, 2023
- Individual clients · 554 to 593Dec 9, 2022 to Mar 8, 2023
- Assets in custody · $92.1M to $97.5MDec 9, 2022 to Mar 8, 2023
- Employees · 6 to 7Dec 9, 2022 to Mar 8, 2023
Signals
1 dated events
- Chicago Investment Advisory Group filed its initial SEC registration (Form ADV)Jun 4, 2019 · 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@ciag.usreportedpublished by the firm, firm site, Sep 15, 2026
- Business email
- taz@ciag.usreportedpublished by the firm, firm site, Sep 15, 2026
- Business email
- alina@ciag.usreportedpublished by the firm, firm site, Sep 15, 2026
- Business email
- diane@ciag.usreportedpublished by the firm, firm site, Sep 15, 2026
- Business email
- joe@ciag.usreportedpublished by the firm, firm site, Sep 15, 2026
- Business email
- mike@ciag.usreportedpublished by the firm, firm site, Sep 15, 2026
- Business phone
- 708-478-7191reportedpublished by the firm, firm site, Sep 15, 2026
- Business phone
- 708-478-7190reportedpublished by the firm, firm site, Sep 15, 2026
- Website
- CIAG.USreportedpublic record, Form ADV, Sep 18, 2026
- Principal office phone
- 708-478-7190reportedpublic record, Form ADV, Mar 20, 2026
- Contact form
- ciag.us/contactreportedpublished by the firm, firm site, Sep 15, 2026
- Team page
- ciag.us/meet-the-teamreportedpublished by the firm, firm site, Sep 15, 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
- $39.3Mderivedfirm RAUM over the IAPD count; not a book size
- Loaded
- Sep 14, 2026