# AAM

> AAM is an SEC-registered investment advisory firm in Chicago, IL, registered since 2001, reporting over $5 billion in regulatory assets under management in its Form ADV filing dated March 24, 2026.

- CRD: 109875
- Legal name: Asset Allocation & Management Company, LLC
- Also doing business as: AAM
- Registration: SEC-registered investment adviser (status as filed: Approved)
- Location: Chicago, IL
- Filing period: October 2026
- Form ADV filing dated: March 24, 2026
- SEC record (IAPD): https://adviserinfo.sec.gov/firm/summary/109875
- AdvisorCensus page: https://advisorcensus.com/firm/aam-chicago-il-109875

## Quick answers

**How is AAM compensated?**
On its Form ADV (Item 5.E, October 2026), AAM reports these compensation arrangements: a percentage of assets under its management; fixed fees (other than subscription fees); performance-based fees.

**How much does AAM charge?**
Its Form ADV Part 2A brochure dated March 24, 2026 states: Asset-based fee: 0.15% to 1.25% a year (a range, as the brochure states it). Fees can differ by service and may be negotiable; the brochure is the complete statement.

**Where is AAM located?**
AAM's principal office is in Chicago, IL, according to its Form ADV.

**Is AAM registered with the SEC or a state?**
AAM is an SEC-registered investment advisory firm, registered since 2001. Status as filed: Approved. CRD 109875.

**How much does AAM manage?**
AAM reports $27,488,721,707 in regulatory assets under management in its Form ADV filing dated March 24, 2026 (97% discretionary).

**How have AAM's assets and staff changed since 2021?**
In the Form ADV data for AAM: Regulatory assets under management: $27,649,810,031 in the October 2021 data and $27,488,721,707 in the October 2026 data, down 1%. Total employees: 46 in October 2021 and 49 in October 2026. Assets under management move with markets as well as with clients coming and going.

**What types of clients does AAM serve?**
By number of clients on Form ADV Item 5.D: insurance companies (120); high net worth individuals (2); corporations or other businesses not listed above (1).

**Which custodians does AAM use?**
AAM's most recent Form ADV filing (Schedule D, Section 5.K(3)) lists The Bank of New York Mellon and U.S. Bank as custodians holding 10% or more of its separately managed account assets.

**Does AAM report any disciplinary disclosures?**
Reports no disclosure items on Form ADV Item 11. The detail of any item is on the firm's SEC record: https://adviserinfo.sec.gov/firm/summary/109875

**What changed in AAM's recent Form ADV filings?**
In the April 2026 filing data: Regulatory assets under management went from $24,032,190,971 to $27,488,721,707 (+14%). Updated its list of owners and control persons (Schedule A).

## From the Form ADV filing

### Compensation (Item 5.E)
- A percentage of assets under your management
- Fixed fees (other than subscription fees)
- Performance-based fees

### Fees and minimums (Form ADV Part 2A brochure dated March 24, 2026)

- Asset-based fee: 0.15% to 1.25% a year (a range, as the brochure states it)

> The annual fees for Convertible, High Yield, Commercial Mortgage Loans, Securian Private Placement and Active Equity management generally range from 0.15% to 1.25% of market value or customized incentive fee billed under the terms described above.

As stated in the firm's brochure. Fees can differ by service and may be negotiable.

### Custodians (Schedule D, Section 5.K(3))
- The Bank of New York Mellon
- U.S. Bank

Custodians holding 10% or more of the firm's separately managed account assets, as filed on Form ADV (Schedule D, Section 5.K(3)). A custodian holds client assets; it does not endorse or supervise the firm. AdvisorCensus has no relationship with any custodian.

### Regulatory assets under management (Item 5.F)
- Total: $27,488,721,707
- Discretionary: $26,728,827,676
- Non-discretionary: $759,894,031

### Clients (Item 5.D)

| Client type | Clients | Assets |
| --- | --- | --- |
| High net worth individuals | 2 | $201,484,266 |
| Insurance companies | 120 | $27,116,159,897 |
| Corporations or other businesses not listed above | 1 | $171,077,544 |

### Advisory services (Item 5.G)
- Portfolio management for individuals and/or small businesses
- Portfolio management for businesses (other than small businesses) or institutional clients
- Selection of other advisers (including private fund managers)

### Firm details
- Registered since: 2001 (25 years)
- Employees: 49 total, 30 performing advisory functions
- Wrap fee program participation: No
- States registered or notice-filed: IL, MN
- Disclosures (Item 11): Reports no disclosure items on Form ADV Item 11.

### Websites listed on Form ADV (Item 1.I)
- aamcompany.com
- buzzsprout.com/510364
- open.spotify.com/show/6v8XJRkUJkTi8mzxQtaIdF
- podcasts.apple.com/us/podcast/the-portfolio-fix-with-aam/id1475788300
- LinkedIn @aam_2
- YouTube @UCCw1TazAriUM38GJvq1RBaA

## Assets and staff over time

| Data period | Regulatory assets under management | Employees | Filing dated |
| --- | --- | --- | --- |
| October 2021 | $27,649,810,031 | 46 | June 24, 2021 |
| October 2022 | $28,965,575,307 | 49 | March 22, 2022 |
| October 2023 | $24,000,390,411 | 46 | March 17, 2023 |
| October 2024 | $22,965,698,670 | 48 | May 30, 2024 |
| October 2025 | $24,032,190,971 | 46 | March 30, 2025 |
| October 2026 | $27,488,721,707 | 49 | March 24, 2026 |

Regulatory assets under management: $27,649,810,031 in the October 2021 data and $27,488,721,707 in the October 2026 data, down 1%.
Total employees: 46 in October 2021 and 49 in October 2026.

## Changes in the filing (last 12 months)

### April 2026
- Regulatory assets under management went from $24,032,190,971 to $27,488,721,707 (+14%).
- Updated its list of owners and control persons (Schedule A).

## Source

Form ADV as filed, October 2026. Values appear as filed. Cite as: AdvisorCensus. AAM (CRD 109875): Form ADV filing data as of October 2026.