# Choreo, LLC

> Choreo, LLC is an SEC-registered investment advisory firm in Rockford, IL, registered since 2011, reporting over $5 billion in regulatory assets under management in its Form ADV filing dated September 30, 2026.

- CRD: 111221
- Filed as: CHOREO, LLC
- Registration: SEC-registered investment adviser (status as filed: Approved)
- Location: Rockford, IL
- Filing period: October 2026
- Form ADV filing dated: September 30, 2026
- SEC record (IAPD): https://adviserinfo.sec.gov/firm/summary/111221
- AdvisorCensus page: https://advisorcensus.com/firm/choreo-llc-rockford-il-111221

## Quick answers

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

**How much does Choreo, LLC charge?**
Its Form ADV Part 2A brochure dated March 25, 2026 states: Asset-based fee: up to 1.5% of assets a year (the maximum the brochure states). Fees can differ by service and may be negotiable; the brochure is the complete statement.

**Where is Choreo, LLC located?**
Choreo, LLC's principal office is in Rockford, IL, according to its Form ADV; the October 2026 filing also lists 25 other offices (Schedule D, Section 1.F).

**Is Choreo, LLC registered with the SEC or a state?**
Choreo, LLC is an SEC-registered investment advisory firm, registered since 2011. Status as filed: Approved. CRD 111221.

**How much does Choreo, LLC manage?**
Choreo, LLC reports $19,138,746,524 in regulatory assets under management in its Form ADV filing dated September 30, 2026 (89% discretionary).

**How have Choreo, LLC's assets and staff changed since 2021?**
In the Form ADV data for Choreo, LLC: Regulatory assets under management: $7,464,411,804 in the October 2021 data and $19,138,746,524 in the October 2026 data, up 156%. Total employees: 127 in October 2021 and 232 in October 2026. Assets under management move with markets as well as with clients coming and going.

**What types of clients does Choreo, LLC serve?**
By number of clients on Form ADV Item 5.D: high net worth individuals (4,392); individuals (other than high net worth individuals) (2,402); corporations or other businesses not listed above (43).

**Which custodians does Choreo, LLC use?**
Choreo, LLC's most recent Form ADV filing (Schedule D, Section 5.K(3)) lists Charles Schwab & Co., Inc. and National Financial Services LLC as custodians holding 10% or more of its separately managed account assets.

**Does Choreo, LLC 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/111221

**What changed in Choreo, LLC's recent Form ADV filings?**
In the October 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)

### Fees and minimums (Form ADV Part 2A brochure dated March 25, 2026)

- Asset-based fee: up to 1.5% of assets a year (the maximum the brochure states)

> The annual rate generally does not exceed 1.5% per annum unless otherwise agreed to with the client.

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

### Custodians (Schedule D, Section 5.K(3))
- Charles Schwab & Co., Inc.
- National Financial Services LLC

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: $19,138,746,524
- Discretionary: $17,052,636,468
- Non-discretionary: $2,086,110,056

### Clients (Item 5.D)

| Client type | Clients | Assets |
| --- | --- | --- |
| Individuals (other than high net worth individuals) | 2,402 | $1,043,239,395 |
| High net worth individuals | 4,392 | $16,735,360,694 |
| Pension and profit sharing plans (but not the plan participants or government pension plans) | 18 | $588,583,853 |
| Charitable organizations | 36 | $576,143,082 |
| Corporations or other businesses not listed above | 43 | $195,419,500 |

### 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)
- Other

### Firm details
- Registered since: 2011 (14 years)
- Employees: 232 total, 97 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 no disclosure items on Form ADV Item 11.

### Other offices (Schedule D, Section 1.F), as of the October 2026 filing
- Augusta, GA
- Berwyn, PA
- Cedar Rapids, IA
- Charlotte, NC
- Chicago, IL
- Columbia, MD
- Costa Mesa, CA
- Denver, CO
- Des Moines, IA
- Madison, WI
- Minneapolis, MN
- Mishawaka, IN
- Mount Shasta, CA
- New York, NY
- Orinda, CA
- Peoria, IL
- Petaluma, CA
- Potomac, MD
- Reno, NV
- Rochester, MN
- Schaumburg, IL
- Seattle, WA
- Sioux Falls, SD
- St. Louis, MO
- Virginia Beach, VA

### Websites listed on Form ADV (Item 1.I)
- choreoadvisors.com
- herbein.com/services/financial-services
- insightwealthlp.com
- rfgltd.com
- Facebook @choreoadvisors
- Instagram @choreoadvisors
- LinkedIn @choreo-advisors
- X @choreoadvisors
- YouTube @choreoadvisors

## Assets and staff over time

| Data period | Regulatory assets under management | Employees | Filing dated |
| --- | --- | --- | --- |
| October 2021 | $7,464,411,804 | 127 | October 1, 2021 |
| October 2022 | $9,629,035,550 | 137 | July 20, 2022 |
| October 2023 | $12,190,108,351 | 189 | September 29, 2023 |
| October 2024 | $16,030,866,060 | 225 | March 26, 2024 |
| October 2025 | $18,232,358,701 | 218 | March 25, 2025 |
| October 2026 | $19,138,746,524 | 232 | September 30, 2026 |

Regulatory assets under management: $7,464,411,804 in the October 2021 data and $19,138,746,524 in the October 2026 data, up 156%.
Total employees: 127 in October 2021 and 232 in October 2026.

## Changes in the filing (last 12 months)

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

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

### April 2026
- Changed its office addresses in Charlotte, NC.

### November 2025
- Updated its list of owners and control persons (Schedule A).

## Source

Form ADV as filed, October 2026. Values appear as filed. Cite as: AdvisorCensus. Choreo, LLC (CRD 111221): Form ADV filing data as of October 2026.