# AON Investments USA Inc.

> AON Investments USA Inc. is an SEC-registered investment advisory firm in Chicago, IL, registered since 1982, reporting over $5 billion in regulatory assets under management in its Form ADV filing dated March 25, 2026.

- CRD: 105596
- Filed as: AON INVESTMENTS USA INC.
- Also doing business as: AON
- Registration: SEC-registered investment adviser (status as filed: Approved)
- Location: Chicago, IL
- Filing period: October 2026
- Form ADV filing dated: March 25, 2026
- SEC record (IAPD): https://adviserinfo.sec.gov/firm/summary/105596
- AdvisorCensus page: https://advisorcensus.com/firm/aon-investments-usa-inc-chicago-il-105596

## Quick answers

**How is AON Investments USA Inc. compensated?**
On its Form ADV (Item 5.E, October 2026), AON Investments USA Inc. reports these compensation arrangements: a percentage of assets under its management; hourly charges; fixed fees (other than subscription fees). The amounts are in Item 5 of its Form ADV Part 2A brochure.

**Where is AON Investments USA Inc. located?**
AON Investments USA Inc.'s principal office is in Chicago, IL, according to its Form ADV; the April 2026 filing also lists 14 other offices (Schedule D, Section 1.F).

**Is AON Investments USA Inc. registered with the SEC or a state?**
AON Investments USA Inc. is an SEC-registered investment advisory firm, registered since 1982. Status as filed: Approved. CRD 105596.

**How much does AON Investments USA Inc. manage?**
AON Investments USA Inc. reports $150,986,402,821 in regulatory assets under management in its Form ADV filing dated March 25, 2026 (78% discretionary).

**How have AON Investments USA Inc.'s assets and staff changed since 2021?**
In the Form ADV data for AON Investments USA Inc.: Regulatory assets under management: $145,787,379,922 in the October 2021 data and $150,986,402,821 in the October 2026 data, up 4%. Total employees: 318 in October 2021 and 255 in October 2026. Assets under management move with markets as well as with clients coming and going.

**What types of clients does AON Investments USA Inc. serve?**
By number of clients on Form ADV Item 5.D: pension and profit sharing plans (but not the plan participants or government pension plans) (272); corporations or other businesses not listed above (139); other (72).

**Which custodians does AON Investments USA Inc. use?**
AON Investments USA Inc.'s most recent Form ADV filing (Schedule D, Section 5.K(3)) lists Fidelity Investments, Northern Trust Corporation and The Bank of New York Mellon as custodians holding 10% or more of its separately managed account assets.

**Does AON Investments USA Inc. report any disciplinary disclosures?**
Reports 4 disclosure items on Form ADV Item 11: yes answers to 11.C(1) (SEC or CFTC finding of a false statement or omission), 11.C(2) (SEC or CFTC finding of a violation), 11.C(4) (SEC or CFTC order), and 11.C(5) (SEC or CFTC civil money penalty or cease-and-desist order). Each question covers the firm and its advisory affiliates, and one event can produce several yes answers. The detail of any item is on the firm's SEC record: https://adviserinfo.sec.gov/firm/summary/105596

**What changed in AON Investments USA Inc.'s recent Form ADV filings?**
In the April 2026 filing data: Employees performing advisory functions went from 256 to 248. Regulatory assets under management went from $136,367,634,451 to $150,986,402,821 (+11%). Changed its office addresses in Atlanta, GA. Changed its office addresses in Raleigh, NC. Added an office in Irvine, CA. Added an office in Jacksonville, FL.

## From the Form ADV filing

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

### Custodians (Schedule D, Section 5.K(3))
- Fidelity Investments
- Northern Trust Corporation
- The Bank of New York Mellon

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: $150,986,402,821
- Discretionary: $118,464,245,244
- Non-discretionary: $32,522,157,577

### Clients (Item 5.D)

| Client type | Clients | Assets |
| --- | --- | --- |
| Individuals (other than high net worth individuals) | Fewer than 5 | $0 |
| High net worth individuals | Fewer than 5 | $0 |
| Banking or thrift institutions | 20 | $0 |
| Investment companies | 3 | $0 |
| Business development companies | 0 | $0 |
| Pooled investment vehicles (other than investment companies and business development companies) | 31 | $34,429,124,633 |
| Pension and profit sharing plans (but not the plan participants or government pension plans) | 272 | $112,660,440,350 |
| Charitable organizations | 8 | $1,182,431,625 |
| State or municipal government entities (including government pension plans) | 32 | $127,130,051 |
| Other investment advisers | 0 | $0 |
| Insurance companies | 2 | $0 |
| Sovereign wealth funds and foreign official institutions | 0 | $0 |
| Corporations or other businesses not listed above | 139 | $0 |
| Other | 72 | $2,587,276,162 |

### Advisory services (Item 5.G)
- Portfolio management for investment companies (and business development companies)
- Portfolio management for pooled investment vehicles (other than investment companies)
- Portfolio management for businesses (other than small businesses) or institutional clients
- Pension consulting services
- Selection of other advisers (including private fund managers)
- Educational seminars/workshops

### Firm details
- Registered since: 1982 (44 years)
- Employees: 255 total, 248 performing advisory functions
- Wrap fee program participation: No
- States registered or notice-filed: AK, AL, AR, AZ, CA, CO, CT, DC, DE, FL, GA, HI, IA, ID, IL, IN, KS, KY, LA, MA, MD, ME, MI, MN, MO, MS, MT, NC, ND, NE, NH, NJ, NM, NV, NY, OH, OK, OR, PA, PR, RI, SC, SD, TN, TX, UT, VA, VI, VT, WA, WI, WV, WY
- Disclosures (Item 11): Reports 4 disclosure items on Form ADV Item 11.

### Item 11 questions answered yes
- 11.C(1): Has the SEC or the CFTC ever found that the firm or an advisory affiliate made a false statement or omission?
- 11.C(2): Has the SEC or the CFTC ever found that the firm or an advisory affiliate was involved in a violation of SEC or CFTC regulations or statutes?
- 11.C(4): Has the SEC or the CFTC ever entered an order against the firm or an advisory affiliate in connection with investment-related activity?
- 11.C(5): Has the SEC or the CFTC ever imposed a civil money penalty on the firm or an advisory affiliate, or ordered the firm or an advisory affiliate to cease and desist from an activity?

Each question covers the firm and its advisory affiliates: its current employees other than clerical staff, its officers, partners, and directors, and anyone who controls the firm or is controlled by it. One event can produce yes answers to several questions. SEC-registered advisers and exempt reporting advisers may leave out events more than ten years old, and may answer 11.A(2) and 11.B(2) for pending charges only. The detail of each yes answer is on the firm's SEC record: https://adviserinfo.sec.gov/firm/summary/105596

### Other offices (Schedule D, Section 1.F), as of the April 2026 filing
- Atlanta, GA
- Bannockburn, IL
- Berkeley Heights, NJ
- Bloomington, MN
- Boston, MA
- Burlington, MA
- Irvine, CA
- Jacksonville, FL
- New York, NY
- Norwalk, CT
- Raleigh, NC
- San Francisco, CA
- Seattle, WA
- St Louis, MO

### Websites listed on Form ADV (Item 1.I)
- aon.com/en/capabilities/investments
- aon.com/en/capabilities/pensions-and-retirement
- insights-north-america.aon.com
- LinkedIn @aon
- LinkedIn @aon-wealth

## Assets and staff over time

| Data period | Regulatory assets under management | Employees | Filing dated |
| --- | --- | --- | --- |
| October 2021 | $145,787,379,922 | 318 | April 29, 2021 |
| October 2022 | $153,864,581,604 | 321 | September 21, 2022 |
| October 2023 | $123,917,476,857 | 332 | September 11, 2023 |
| October 2024 | $122,915,401,080 | 286 | August 29, 2024 |
| October 2025 | $136,367,634,451 | 263 | March 27, 2025 |
| October 2026 | $150,986,402,821 | 255 | March 25, 2026 |

Regulatory assets under management: $145,787,379,922 in the October 2021 data and $150,986,402,821 in the October 2026 data, up 4%.
Total employees: 318 in October 2021 and 255 in October 2026.

## Changes in the filing (last 12 months)

### April 2026
- Employees performing advisory functions went from 256 to 248.
- Regulatory assets under management went from $136,367,634,451 to $150,986,402,821 (+11%).
- Changed its office addresses in Atlanta, GA.
- Changed its office addresses in Raleigh, NC.
- Added an office in Irvine, CA.
- Added an office in Jacksonville, FL.

## Source

Form ADV as filed, October 2026. Values appear as filed. Cite as: AdvisorCensus. AON Investments USA Inc. (CRD 105596): Form ADV filing data as of October 2026.