{
  "crd_number": 146509,
  "slug": "gallagher-fiduciary-advisors-llc-rolling-meadows-il-146509",
  "primary_business_name": "GALLAGHER FIDUCIARY ADVISORS, LLC",
  "legal_name": "GALLAGHER FIDUCIARY ADVISORS, LLC",
  "dbas": [
    "FLAGSTONE WEALTH MANAGEMENT",
    "GALLAGHER INVESTMENTS",
    "KUSSKE FINANCIAL MANAGEMENT"
  ],
  "city": "Rolling Meadows",
  "state": "IL",
  "country": "United States",
  "cbsa_code": "16980",
  "metro": {
    "cbsa_code": "16980",
    "common_name": "Chicago",
    "msa_name": "Chicago-Naperville-Elgin, IL-IN",
    "path": "/advisors/il/chicago"
  },
  "registration_type": "sec",
  "registration_status": "Approved",
  "registration_date": "2008-03-17",
  "years_registered": 18,
  "period": "2026-10-01",
  "filing_date": "2026-09-28",
  "carried_forward": false,
  "raum_total": 194823102725.0,
  "raum_discretionary": 12865469209.0,
  "raum_non_discretionary": 181957633516.0,
  "raum_band": "over_5b",
  "raum_band_label": "Over $5 billion",
  "total_employees": 235,
  "advisory_employees": 218,
  "client_count_bucket": null,
  "clients_by_type": {
    "other": {
      "raum": 9920134378.0,
      "count": 29,
      "description": "ENDOWMENTS, NON-PROFIT, FOUNDATIONS, HEALTH & WELFARE, CORPORATE RESERVES AND OTHER FUNDS"
    },
    "individuals": {
      "raum": 682104770.0,
      "count": 3770
    },
    "state_municipal": {
      "raum": 8435722746.0,
      "count": 36
    },
    "insurance_companies": {
      "raum": 847467078.0,
      "count": 5
    },
    "pension_profit_sharing": {
      "raum": 170550031958.0,
      "count": 2099
    },
    "high_net_worth_individuals": {
      "raum": 295497311.0,
      "count": 170
    },
    "corporations_other_businesses": {
      "raum": 4092144484.0,
      "count": 11
    }
  },
  "compensation_types": [
    "fixed",
    "hourly",
    "percentage_of_aum"
  ],
  "advisory_activities": [
    "financial_planning",
    "other",
    "pension_consulting",
    "portfolio_management_businesses_institutional",
    "portfolio_management_individuals",
    "portfolio_management_pooled_vehicles",
    "selection_of_other_advisers"
  ],
  "wrap_fee_participant": true,
  "disclosure_yes_count": 0,
  "states_registered": [
    "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"
  ],
  "websites": [
    "https://ajg.com/us/services/investments-fiduciary-consulting",
    "https://ajg.com/us/services/retirement-plan-consulting",
    "https://flagstoneretirement.com",
    "https://kusskefinancial.com"
  ],
  "iapd_url": "https://adviserinfo.sec.gov/firm/summary/146509",
  "city_as_filed": "ROLLING MEADOWS",
  "url": "https://advisorcensus.com/firm/gallagher-fiduciary-advisors-llc-rolling-meadows-il-146509",
  "display_name": "Gallagher Fiduciary Advisors, LLC",
  "summary": "Gallagher Fiduciary Advisors, LLC is an SEC-registered investment advisory firm in Rolling Meadows, IL, registered since 2008, reporting over $5 billion in regulatory assets under management in its Form ADV filing dated September 28, 2026.",
  "citation": "AdvisorCensus. Gallagher Fiduciary Advisors, LLC (CRD 146509): Form ADV filing data as of October 2026.",
  "registration_type_label": "SEC-registered investment adviser",
  "compensation_labels": [
    "A percentage of assets under your management",
    "Hourly charges",
    "Fixed fees (other than subscription fees)"
  ],
  "advisory_activity_labels": [
    "Financial planning services",
    "Portfolio management for individuals and/or small businesses",
    "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)",
    "Other"
  ],
  "quick_answers": [
    {
      "q": "How is Gallagher Fiduciary Advisors, LLC compensated?",
      "a": "On its Form ADV (Item 5.E, October 2026), Gallagher Fiduciary Advisors, LLC 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."
    },
    {
      "q": "Where is Gallagher Fiduciary Advisors, LLC located?",
      "a": "Gallagher Fiduciary Advisors, LLC's principal office is in Rolling Meadows, IL, according to its Form ADV; the October 2026 filing also lists 33 other offices (Schedule D, Section 1.F)."
    },
    {
      "q": "Is Gallagher Fiduciary Advisors, LLC registered with the SEC or a state?",
      "a": "Gallagher Fiduciary Advisors, LLC is an SEC-registered investment advisory firm, registered since 2008. Status as filed: Approved. CRD 146509."
    },
    {
      "q": "How much does Gallagher Fiduciary Advisors, LLC manage?",
      "a": "Gallagher Fiduciary Advisors, LLC reports $194,823,102,725 in regulatory assets under management in its Form ADV filing dated September 28, 2026 (7% discretionary)."
    },
    {
      "q": "How have Gallagher Fiduciary Advisors, LLC's assets and staff changed since 2021?",
      "a": "In the Form ADV data for Gallagher Fiduciary Advisors, LLC: Regulatory assets under management: $5,754,700,000 in the October 2021 data and $194,823,102,725 in the October 2026 data, up 3285%. Total employees: 30 in October 2021 and 235 in October 2026. Assets under management move with markets as well as with clients coming and going."
    },
    {
      "q": "What types of clients does Gallagher Fiduciary Advisors, LLC serve?",
      "a": "By number of clients on Form ADV Item 5.D: individuals (other than high net worth individuals) (3,770); pension and profit sharing plans (but not the plan participants or government pension plans) (2,099); high net worth individuals (170)."
    },
    {
      "q": "Does Gallagher Fiduciary Advisors, LLC report any disciplinary disclosures?",
      "a": "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/146509"
    },
    {
      "q": "What changed in Gallagher Fiduciary Advisors, LLC's recent Form ADV filings?",
      "a": "In the October 2026 filing data: Added an office in Denver, CO. No longer lists an office in Greenwood Village, CO."
    }
  ],
  "filing_history": [
    {
      "period": "2021-10-01",
      "regulatory_assets_under_management": 5754700000.0,
      "total_employees": 30,
      "filing_date": "2021-05-18"
    },
    {
      "period": "2022-10-01",
      "regulatory_assets_under_management": 6265200000.0,
      "total_employees": 30,
      "filing_date": "2022-04-15"
    },
    {
      "period": "2023-10-01",
      "regulatory_assets_under_management": 6543290721.0,
      "total_employees": 134,
      "filing_date": "2023-08-21"
    },
    {
      "period": "2024-10-01",
      "regulatory_assets_under_management": 10243478622.0,
      "total_employees": 211,
      "filing_date": "2024-04-10"
    },
    {
      "period": "2025-10-01",
      "regulatory_assets_under_management": 180614282519.0,
      "total_employees": 221,
      "filing_date": "2025-04-22"
    },
    {
      "period": "2026-10-01",
      "regulatory_assets_under_management": 194823102725.0,
      "total_employees": 235,
      "filing_date": "2026-09-28"
    }
  ],
  "recent_changes": [
    {
      "period": "2026-10-01",
      "period_label": "October 2026",
      "notes": [
        "Added an office in Denver, CO.",
        "No longer lists an office in Greenwood Village, CO."
      ]
    },
    {
      "period": "2026-08-01",
      "period_label": "August 2026",
      "notes": [
        "Updated its list of owners and control persons (Schedule A)."
      ]
    },
    {
      "period": "2026-07-01",
      "period_label": "July 2026",
      "notes": [
        "Updated its list of owners and control persons (Schedule A)."
      ]
    },
    {
      "period": "2026-04-01",
      "period_label": "April 2026",
      "notes": [
        "Employees performing advisory functions went from 160 to 218.",
        "Changed its office addresses in Atlanta, GA.",
        "Changed its office addresses in Austin, TX.",
        "Changed its office addresses in Bloomfield Hill, MI.",
        "Changed its office addresses in Bloomington, MN.",
        "Changed its office addresses in Charlotte, NC.",
        "Changed its office addresses in Cleveland, OH.",
        "Changed its office addresses in Dallas, TX.",
        "Changed its office addresses in Framingham, MA.",
        "Changed its office addresses in Houston, TX.",
        "Changed its office addresses in Irvine, CA.",
        "Changed its office addresses in Latham, NY.",
        "Changed its office addresses in Little Rock, AR.",
        "Changed its office addresses in Madison, WI.",
        "Changed its office addresses in Rockville, MD.",
        "Changed its office addresses in Wakefield, MA.",
        "Added an office in Bellevue, WA.",
        "Added an office in Boston, MA.",
        "Added an office in Clearfield, UT.",
        "Added an office in Greenwood Village, CO.",
        "Added an office in New York, NY.",
        "Added an office in Richmond, VA.",
        "Added an office in San Francisco, CA.",
        "Added an office in Tampa, FL.",
        "Added an office in Whippany, NJ.",
        "Added an office in Wichita, KS.",
        "No longer lists an office in Baton Rouge, LA.",
        "No longer lists an office in Carmel, IN.",
        "No longer lists an office in Centennial, CO.",
        "No longer lists an office in Highlands Ranch, CO.",
        "No longer lists an office in Kansas City, MO.",
        "No longer lists an office in Manhattan, KS.",
        "No longer lists an office in South Ogden, UT."
      ]
    },
    {
      "period": "2025-11-01",
      "period_label": "November 2025",
      "notes": [
        "Added an office in Framingham, MA.",
        "Added an office in Highlands Ranch, CO.",
        "Updated its list of owners and control persons (Schedule A)."
      ]
    }
  ],
  "fees_from_brochure": null,
  "custodians": [],
  "custodians_note": null,
  "markdown_url": "https://advisorcensus.com/firm/gallagher-fiduciary-advisors-llc-rolling-meadows-il-146509.md",
  "clients": [
    {
      "type": "individuals",
      "label": "Individuals (other than high net worth individuals)",
      "count": 3770,
      "fewer_than_5": false,
      "raum": 682104770.0
    },
    {
      "type": "high_net_worth_individuals",
      "label": "High net worth individuals",
      "count": 170,
      "fewer_than_5": false,
      "raum": 295497311.0
    },
    {
      "type": "pension_profit_sharing",
      "label": "Pension and profit sharing plans (but not the plan participants or government pension plans)",
      "count": 2099,
      "fewer_than_5": false,
      "raum": 170550031958.0
    },
    {
      "type": "state_municipal",
      "label": "State or municipal government entities (including government pension plans)",
      "count": 36,
      "fewer_than_5": false,
      "raum": 8435722746.0
    },
    {
      "type": "insurance_companies",
      "label": "Insurance companies",
      "count": 5,
      "fewer_than_5": false,
      "raum": 847467078.0
    },
    {
      "type": "corporations_other_businesses",
      "label": "Corporations or other businesses not listed above",
      "count": 11,
      "fewer_than_5": false,
      "raum": 4092144484.0
    },
    {
      "type": "other",
      "label": "Other",
      "count": 29,
      "fewer_than_5": false,
      "raum": 9920134378.0
    }
  ],
  "disclosure_line": "Reports no disclosure items on Form ADV Item 11.",
  "disclosure_items": [],
  "indexable": true,
  "suppressed": false,
  "claimed": false,
  "enhanced": false,
  "provided_by_the_firm": null,
  "source": {
    "name": "Form ADV",
    "as_of": "2026-10-01",
    "iapd_url": "https://adviserinfo.sec.gov/firm/summary/146509",
    "operator": "BH Monitor Services, LLC",
    "license": "https://creativecommons.org/licenses/by/4.0/",
    "credit": "AdvisorCensus (advisorcensus.com), from SEC Form ADV data"
  }
}