# Gallagher Fiduciary Advisors, LLC

> 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.

- CRD: 146509
- Filed as: GALLAGHER FIDUCIARY ADVISORS, LLC
- Also doing business as: FLAGSTONE WEALTH MANAGEMENT, GALLAGHER INVESTMENTS, KUSSKE FINANCIAL MANAGEMENT
- Registration: SEC-registered investment adviser (status as filed: Approved)
- Location: Rolling Meadows, IL
- Filing period: October 2026
- Form ADV filing dated: September 28, 2026
- SEC record (IAPD): https://adviserinfo.sec.gov/firm/summary/146509
- AdvisorCensus page: https://advisorcensus.com/firm/gallagher-fiduciary-advisors-llc-rolling-meadows-il-146509

## Quick answers

**How is Gallagher Fiduciary Advisors, LLC compensated?**
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).

**Where is Gallagher Fiduciary Advisors, LLC located?**
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).

**Is Gallagher Fiduciary Advisors, LLC registered with the SEC or a state?**
Gallagher Fiduciary Advisors, LLC is an SEC-registered investment advisory firm, registered since 2008. Status as filed: Approved. CRD 146509.

**How much does Gallagher Fiduciary Advisors, LLC manage?**
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).

**How have Gallagher Fiduciary Advisors, LLC's assets and staff changed since 2021?**
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.

**What types of clients does Gallagher Fiduciary Advisors, LLC serve?**
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).

**Does Gallagher Fiduciary Advisors, 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/146509

**What changed in Gallagher Fiduciary Advisors, LLC's recent Form ADV filings?**
In the October 2026 filing data: Added an office in Denver, CO. No longer lists an office in Greenwood Village, CO.

## From the Form ADV filing

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

### Regulatory assets under management (Item 5.F)
- Total: $194,823,102,725
- Discretionary: $12,865,469,209
- Non-discretionary: $181,957,633,516

### Clients (Item 5.D)

| Client type | Clients | Assets |
| --- | --- | --- |
| Individuals (other than high net worth individuals) | 3,770 | $682,104,770 |
| High net worth individuals | 170 | $295,497,311 |
| Pension and profit sharing plans (but not the plan participants or government pension plans) | 2,099 | $170,550,031,958 |
| State or municipal government entities (including government pension plans) | 36 | $8,435,722,746 |
| Insurance companies | 5 | $847,467,078 |
| Corporations or other businesses not listed above | 11 | $4,092,144,484 |
| Other | 29 | $9,920,134,378 |

### Advisory services (Item 5.G)
- 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

### Firm details
- Registered since: 2008 (18 years)
- Employees: 235 total, 218 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 no disclosure items on Form ADV Item 11.

### Other offices (Schedule D, Section 1.F), as of the October 2026 filing
- Atlanta, GA
- Austin, TX
- Baton Rouge, LA
- Bellevue, WA
- Berwyn, PA
- Bloomfield Hill, MI
- Bloomington, MN
- Boston, MA
- Burnsville, MN
- Charlotte, NC
- Clearfield, UT
- Cleveland, OH
- Dallas, TX
- Denver, CO
- E. Hartford, CT
- Framingham, MA
- Houston, TX
- Irvine, CA
- Jacksonville, FL
- Latham, NY
- Little Rock, AR
- Madison, WI
- New York, NY
- Oklahoma City, OK
- Pittsburgh, PA
- Richmond, VA
- Rockville, MD
- San Francisco, CA
- Tampa, FL
- Wakefield, MA
- Washington, DC
- Whippany, NJ
- Wichita, KS

### Websites listed on Form ADV (Item 1.I)
- ajg.com/us/services/investments-fiduciary-consulting
- ajg.com/us/services/retirement-plan-consulting
- flagstoneretirement.com
- kusskefinancial.com

## Assets and staff over time

| Data period | Regulatory assets under management | Employees | Filing dated |
| --- | --- | --- | --- |
| October 2021 | $5,754,700,000 | 30 | May 18, 2021 |
| October 2022 | $6,265,200,000 | 30 | April 15, 2022 |
| October 2023 | $6,543,290,721 | 134 | August 21, 2023 |
| October 2024 | $10,243,478,622 | 211 | April 10, 2024 |
| October 2025 | $180,614,282,519 | 221 | April 22, 2025 |
| October 2026 | $194,823,102,725 | 235 | September 28, 2026 |

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.

## Changes in the filing (last 12 months)

### October 2026
- Added an office in Denver, CO.
- No longer lists an office in Greenwood Village, CO.

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

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

### April 2026
- 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.

### November 2025
- Added an office in Framingham, MA.
- Added an office in Highlands Ranch, CO.
- Updated its list of owners and control persons (Schedule A).

## Source

Form ADV as filed, October 2026. Values appear as filed. Cite as: AdvisorCensus. Gallagher Fiduciary Advisors, LLC (CRD 146509): Form ADV filing data as of October 2026.