# 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.

- CRD: 107687
- Filed as: CALLAN
- Legal name: Callan LLC
- Also doing business as: CALLAN ASSOCIATES LLC
- Registration: SEC-registered investment adviser (status as filed: Approved)
- Location: San Francisco, CA
- Filing period: October 2026
- Form ADV filing dated: March 24, 2026
- SEC record (IAPD): https://adviserinfo.sec.gov/firm/summary/107687
- AdvisorCensus page: https://advisorcensus.com/firm/callan-san-francisco-ca-107687

## Quick answers

**How 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

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

### Regulatory assets under management (Item 5.F)
- Total: $41,940,517,968
- Discretionary: $41,940,517,968
- Non-discretionary: $0

### Clients (Item 5.D)

| Client type | Clients | Assets |
| --- | --- | --- |
| Individuals (other than high net worth individuals) | 0 | $0 |
| High net worth individuals | 0 | $0 |
| Banking or thrift institutions | 0 | $0 |
| Investment companies | 0 | $0 |
| Business development companies | 0 | $0 |
| Pooled investment vehicles (other than investment companies and business development companies) | 4 | $8,693,788,750 |
| Pension and profit sharing plans (but not the plan participants or government pension plans) | 250 | $32,436,217,178 |
| Charitable organizations | 51 | $464,474,366 |
| State or municipal government entities (including government pension plans) | 151 | $0 |
| Other investment advisers | 20 | $0 |
| Insurance companies | 0 | $0 |
| Sovereign wealth funds and foreign official institutions | 0 | $0 |
| Corporations or other businesses not listed above | 248 | $346,037,674 |
| Other | 13 | $0 |

### 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

### Firm details
- Registered since: 1973 (53 years)
- Employees: 202 total, 164 performing advisory functions
- Wrap fee program participation: No
- States registered or notice-filed: AK, AZ, CA, CO, CT, DC, FL, GA, HI, ID, IL, IN, KS, KY, LA, MA, MD, MI, MN, MO, NC, NE, NH, NJ, NV, NY, OH, OR, PA, TN, TX, VA, VT, WA, WI
- Disclosures (Item 11): Reports no disclosure items on Form ADV Item 11.

### Other offices (Schedule D, Section 1.F), as of the April 2026 filing
- Atlanta, GA
- Chicago, IL
- Denver, CO
- Portland, OR
- Summit, NJ

### Websites listed on Form ADV (Item 1.I)
- callan.com
- Facebook @callanllc
- LinkedIn @callan
- X @CallanLLC

## Assets and staff over time

| Data period | Regulatory assets under management | Employees | Filing dated |
| --- | --- | --- | --- |
| October 2021 | $15,180,519,440 | 198 | March 22, 2021 |
| October 2022 | $18,168,483,107 | 189 | March 22, 2022 |
| October 2023 | $15,421,437,660 | 192 | August 16, 2023 |
| October 2024 | $34,232,897,326 | 201 | April 18, 2024 |
| October 2025 | $37,782,945,852 | 202 | March 24, 2025 |
| October 2026 | $41,940,517,968 | 202 | March 24, 2026 |

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.

## 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.

## Source

Form ADV as filed, October 2026. Values appear as filed. Cite as: AdvisorCensus. Callan (CRD 107687): Form ADV filing data as of October 2026.