# Arete Wealth Advisors, LLC

> Arete Wealth Advisors, LLC is an SEC-registered investment advisory firm in Chicago, IL, registered since 2009, reporting $1 billion to $5 billion in regulatory assets under management in its Form ADV filing dated August 17, 2026.

- CRD: 145488
- Filed as: ARETE WEALTH ADVISORS, LLC
- Also doing business as: ALTERNATIVE INVESTMENT SPECIALISTS LLC, AVENA IMPACT WEALTH ADVISORS, CONNER FINANCIAL LLC, CYGNUS CAPITAL, DUPRE CARRIER GODCHAUX FINANCIAL SERVICES, FINANCIAL RESOURCE MANAGEMENT, FINCADIA CAPITAL PARTNERS, FREEDOM FINANCIAL WEALTH AND TAX, LLC, GOLUB CAPITAL, HILL & HILL FINANCIAL, HUDSONPOINT CAPITAL, INSIGHT WEALTH GROUP, KRM FINANCIAL SERVICES, LEBLANC FINANCIAL ALLIANCE, LEGACY FINANCIAL, MAJORS FINANCIAL, MCKINLEY WEALTH MANAGEMENT LLC, NARISH FINANCIAL SERVICES, PFS WEALTH MANAGEMENT, PINNACLE FINANCIAL WEALTH MANAGEMENT, PROGEN FINANCIAL CONSULTING, ROBERTS TAX AND RETIREMENT PLANNING, SARANAC ADVISORS, SECOND LEVEL CAPITAL, SHADES CREEK WEALTH ADVISORS, SILVERCAP WEALTH MANAGEMENT, WEALTH SOLUTIONS 360
- Registration: SEC-registered investment adviser (status as filed: Approved)
- Location: Chicago, IL
- Filing period: October 2026
- Form ADV filing dated: August 17, 2026
- SEC record (IAPD): https://adviserinfo.sec.gov/firm/summary/145488
- AdvisorCensus page: https://advisorcensus.com/firm/arete-wealth-advisors-llc-chicago-il-145488

## Quick answers

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

**Where is Arete Wealth Advisors, LLC located?**
Arete Wealth Advisors, LLC's principal office is in Chicago, IL, according to its Form ADV; the September 2026 filing also lists 30 other offices (Schedule D, Section 1.F).

**Is Arete Wealth Advisors, LLC registered with the SEC or a state?**
Arete Wealth Advisors, LLC is an SEC-registered investment advisory firm, registered since 2009. Status as filed: Approved. CRD 145488.

**How much does Arete Wealth Advisors, LLC manage?**
Arete Wealth Advisors, LLC reports $2,745,378,945 in regulatory assets under management in its Form ADV filing dated August 17, 2026 (100% discretionary).

**How have Arete Wealth Advisors, LLC's assets and staff changed since 2021?**
In the Form ADV data for Arete Wealth Advisors, LLC: Regulatory assets under management: $1,488,069,965 in the October 2021 data and $2,745,378,945 in the October 2026 data, up 84%. Total employees: 78 in October 2021 and 135 in October 2026. Assets under management move with markets as well as with clients coming and going.

**What types of clients does Arete Wealth Advisors, LLC serve?**
By number of clients on Form ADV Item 5.D: high net worth individuals (3,441); individuals (other than high net worth individuals) (1,848); corporations or other businesses not listed above (116).

**Does Arete Wealth Advisors, LLC report any disciplinary disclosures?**
Reports 3 disclosure items on Form ADV Item 11: yes answers to 11.E(2) (self-regulatory organization's finding of a rule violation), 11.E(4) (self-regulatory organization's expulsion, suspension, bar, or restriction), and 11.H(2) (pending civil proceeding). 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/145488

**Does Arete Wealth Advisors, LLC state an account minimum?**
Its Form ADV Part 2A brochure dated February 6, 2026 says: "Generally, we require a $50,000 initial minimum account balance. We may waive the requirement based upon the Client’s needs and complexity of account."

**What changed in Arete Wealth Advisors, LLC's recent Form ADV filings?**
In the September 2026 filing data: 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
- Hourly charges
- Fixed fees (other than subscription fees)
- Performance-based fees
- Other

### Fees and minimums (Form ADV Part 2A brochure dated February 6, 2026)

- Account minimum: $50,000 (the brochure says it may be waived or negotiated)

> Generally, we require a $50,000 initial minimum account balance. We may waive the requirement based upon the Client’s needs and complexity of account.

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

### Regulatory assets under management (Item 5.F)
- Total: $2,745,378,945
- Discretionary: $2,745,378,945
- Non-discretionary: $0

### Clients (Item 5.D)

| Client type | Clients | Assets |
| --- | --- | --- |
| Individuals (other than high net worth individuals) | 1,848 | $521,622,008 |
| High net worth individuals | 3,441 | $2,039,162,283 |
| Banking or thrift institutions | 0 | Not reported |
| Investment companies | 0 | Not reported |
| Business development companies | 0 | Not reported |
| Pooled investment vehicles (other than investment companies and business development companies) | 0 | Not reported |
| Pension and profit sharing plans (but not the plan participants or government pension plans) | 9 | $6,901,104 |
| Charitable organizations | 12 | $4,479,958 |
| State or municipal government entities (including government pension plans) | 0 | Not reported |
| Other investment advisers | 0 | Not reported |
| Insurance companies | 0 | Not reported |
| Sovereign wealth funds and foreign official institutions | 0 | Not reported |
| Corporations or other businesses not listed above | 116 | $173,213,592 |
| Other | 0 | Not reported |

### Advisory services (Item 5.G)
- Financial planning services
- Portfolio management for individuals and/or small businesses
- Portfolio management for businesses (other than small businesses) or institutional clients
- Pension consulting services
- Selection of other advisers (including private fund managers)
- Publication of periodicals or newsletters
- Other

### Firm details
- Registered since: 2009 (17 years)
- Employees: 135 total, 130 performing advisory functions
- Wrap fee program participation: Yes
- 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, VT, WA, WI, WV, WY
- Disclosures (Item 11): Reports 3 disclosure items on Form ADV Item 11.

### Item 11 questions answered yes
- 11.E(2): Has a self-regulatory organization or a commodities exchange ever found that the firm or an advisory affiliate was involved in a violation of its rules, other than a minor rule violation under a plan the SEC approved?
- 11.E(4): Has a self-regulatory organization or a commodities exchange ever disciplined the firm or an advisory affiliate by expelling or suspending it from membership, barring or suspending it from association with other members, or otherwise restricting its activities?
- 11.H(2): Is the firm or an advisory affiliate now the subject of a civil proceeding that could result in a yes answer to any part of 11.H(1)?

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/145488

### Other offices (Schedule D, Section 1.F), as of the September 2026 filing
- Birmingham, AL
- Brentwood, MO
- Brewster, NY
- Creve Coeur, MO
- Crystal Lake, IL
- Defuniak Springs, FL
- Encino, CA
- Frankfort, IL
- Gilbert, AZ
- Holland, MI
- Jersey City, NJ
- Knoxville, TN
- Los Gatos, CA
- Melville, NY
- Memphis, TN
- Merritt Island, FL
- Metairie, LA
- Nashville, TN
- New York, NY
- Opelousas, LA
- Pittsburgh, PA
- Ponte Vedra Beach, FL
- San Francisco, CA
- Sarasota, FL
- Schaumburg, IL
- St. Charles, IL
- Sunrise, FL
- Vienna, VA
- West des Moines, IA
- Woodstock, GA

### Websites listed on Form ADV (Item 1.I)
- 911annuity.com
- aispcs.com
- aretewealth.com
- avenaimpactwealth.com
- bondstocksfinancial.com
- christie-cox.com
- connerfinancialllc.com
- dcgagency.com
- ffwealthandtax.com
- fincadiacapital.com
- hillandhillfinancial.com
- hudsonpoint.com
- insightwealthgroup.com
- leblancfinancial.com
- majorsfg.com
- mkwealth.com
- narishfinancialservice.com
- pfswm.com
- pinnaclefinancialwealthmgmt.com
- progenfinancial.com
- retirementlifestyleshow.com
- robertstaxandretirement.com
- saranacadvisorsinc.com
- secondlevelcapital.com
- shadescreekwealthadvisors.com
- silvercapwealth.com
- wealthsolutions360.com

## Assets and staff over time

| Data period | Regulatory assets under management | Employees | Filing dated |
| --- | --- | --- | --- |
| October 2021 | $1,488,069,965 | 78 | July 21, 2021 |
| October 2022 | $2,044,428,286 | 91 | April 21, 2022 |
| October 2023 | $2,116,498,344 | 151 | September 18, 2023 |
| October 2024 | $2,672,456,687 | 130 | August 15, 2024 |
| October 2025 | $3,152,167,506 | 138 | April 1, 2025 |
| October 2026 | $2,745,378,945 | 135 | August 17, 2026 |

Regulatory assets under management: $1,488,069,965 in the October 2021 data and $2,745,378,945 in the October 2026 data, up 84%.
Total employees: 78 in October 2021 and 135 in October 2026.

## Changes in the filing (last 12 months)

### September 2026
- Updated its list of owners and control persons (Schedule A).

### July 2026
- Updated its list of owners and control persons (Schedule A).

### March 2026
- Regulatory assets under management went from $3,152,167,506 to $2,745,378,945 (-13%).
- Added an office in Schaumburg, IL.
- No longer lists an office in Brentwood, TN.
- No longer lists an office in Englewood, CO.
- No longer lists an office in Los Angeles, CA.
- No longer lists an office in Park Ridge, IL.
- Updated its list of owners and control persons (Schedule A).

### January 2026
- No longer lists the business name Govic Capital.
- No longer lists the business name Cura Wealth Partners.
- No longer lists the business name Creative Health Capital, LLC.
- No longer lists the business name Caliber Financial Partners.
- Added the business name Avena Impact Wealth Advisors.
- Added an office in Holland, MI.
- No longer lists an office in Chicago, IL.
- No longer lists an office in Red Bank, NJ.
- No longer lists an office in White Plains, NY.

## Source

Form ADV as filed, October 2026. Values appear as filed. Cite as: AdvisorCensus. Arete Wealth Advisors, LLC (CRD 145488): Form ADV filing data as of October 2026.