AdvisorCensus / Financial advisors / California / San Francisco / Callan
Callan is an SEC-registered investment advisory firm in San Francisco, CA, registered since 1973, reporting over $5 billion in regulatory assets under management in its Form ADV filing dated March 24, 2026.
Quick answers
From the filingHow is Callan compensated?
On its Form ADV (Item 5.E, October 2026), Callan reports these compensation arrangements: a percentage of assets under its management; hourly charges; fixed fees (other than subscription fees); other.
Where is Callan located?
Callan's principal office is in San Francisco, CA, according to its Form ADV; the April 2026 filing also lists 5 other offices (Schedule D, Section 1.F).
Is Callan registered with the SEC or a state?
Callan is an SEC-registered investment advisory firm, registered since 1973. Status as filed: Approved. CRD 107687.
How much does Callan manage?
Callan reports $41,940,517,968 in regulatory assets under management in its Form ADV filing dated March 24, 2026 (100% discretionary).
How have Callan's assets and staff changed since 2021?
In the Form ADV data for Callan: Regulatory assets under management: $15,180,519,440 in the October 2021 data and $41,940,517,968 in the October 2026 data, up 176%. Total employees: 198 in October 2021 and 202 in October 2026. Assets under management move with markets as well as with clients coming and going.
What types of clients does Callan 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) (250); corporations or other businesses not listed above (248); state or municipal government entities (including government pension plans) (151).
Does Callan 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/107687
What changed in Callan's recent Form ADV filings?
In the April 2026 filing data: Regulatory assets under management went from $37,782,945,852 to $41,940,517,968 (+11%). Changed its office addresses in Denver, CO. Registered or notice-filed in DC.
From the Form ADV filing
Every figure below is as the firm filed it with regulators, as of October 2026.
How the firm is compensated
Item 5.E- A percentage of assets under your management
- Hourly charges
- Fixed fees (other than subscription fees)
- Other
Item 5.E lists how the firm is compensated for its advice; Items 5.B, 6.A, and 7.A show whether its people or related companies can also earn commissions. Percentage of assets, fixed, hourly, subscription, and performance-based fees come from clients (a performance-based fee depends on investment results); commissions come with a sale or a trade, often from the company behind the product. How fees, commissions, and other arrangements differ
Fees and minimums
Form ADV Part 2ASee the firm's brochure (dated March 24, 2026) for its fees and any account minimum, on the SEC's IAPD site.
Regulatory assets under management
Item 5.F$41,940,517,968 as of October 2026, filing dated March 24, 2026.
A measure of scale, not skill or returns. Discretionary means the firm decides trades; non-discretionary means clients approve each one. What assets under management means
Who the firm serves
Item 5.DA firm with no individual clients is an institutional manager even if it manages billions; the mix tells you whom the practice is built around.
Advisory services
Item 5.G- Portfolio management for businesses (other than small businesses) or institutional clients
- Pension consulting services
- Selection of other advisers (including private fund managers)
- Other
Registration and firm details
Items 1, 2, 5- Legal name
- Callan LLC
- Also doing business as
- CALLAN ASSOCIATES LLC
- Registration
- SEC-registered investment adviser. Status as filed: Approved.
- Registered since
- 1973 (53 years)
- Employees
- Total: 202. Performing investment advisory functions: 164.
- Wrap fee program participation
- No.
- Other offices (Schedule D, Section 1.F)
-
5 other offices, as of the April 2026 filing
- States registered or notice-filed
-
35 states or jurisdictions
SEC-registered investment advisers are examined by the SEC. SEC, state, and exempt registration
Disclosures
Item 11None Reports no disclosure items on Form ADV Item 11. View on IAPD.
Item 11 asks about criminal, regulatory, and civil events involving the firm and its advisory personnel. The detail of each yes answer is on the IAPD record. Reading a firm's disclosures
Assets and staff over time
Items 5.A, 5.F| Data period | Assets under management | Employees | Filing dated |
|---|---|---|---|
| October 2026 | $41,940,517,968 | 202 | March 24, 2026 |
| October 2025 | $37,782,945,852 | 202 | March 24, 2025 |
| October 2024 | $34,232,897,326 | 201 | April 18, 2024 |
| October 2023 | $15,421,437,660 | 192 | August 16, 2023 |
| October 2022 | $18,168,483,107 | 189 | March 22, 2022 |
| October 2021 | $15,180,519,440 | 198 | March 22, 2021 |
Regulatory assets under management: $15,180,519,440 in the October 2021 data and $41,940,517,968 in the October 2026 data, up 176%.
Total employees: 198 in October 2021 and 202 in October 2026.
As filed in each year's data for the same month. Assets under management move with markets as well as with clients coming and going; they measure scale, not skill or returns. Most firms update these figures once a year.
Changes in the filing
Last 12 months- April 2026
- Regulatory assets under management went from $37,782,945,852 to $41,940,517,968 (+11%).
- Changed its office addresses in Denver, CO.
- Registered or notice-filed in DC.
Compared month to month from the SEC's monthly adviser data and the state compilation feed. Owners and control persons are summarized, never named.
Websites listed on Form ADV
Item 1.ISource: Form ADV, as of October 2026. Values appear as filed; a value the firm did not report is shown as "Not reported."
Cite this page
AdvisorCensus. Callan (CRD 107687): Form ADV filing data as of October 2026. https://advisorcensus.com/firm/callan-san-francisco-ca-107687