{
  "crd_number": 161281,
  "slug": "innovative-capital-advisors-llc-chicago-il-161281",
  "primary_business_name": "INNOVATIVE CAPITAL ADVISORS, LLC",
  "legal_name": "INNOVATIVE CAPITAL ADVISORS, LLC",
  "dbas": [],
  "city": "Chicago",
  "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": "2012-06-19",
  "years_registered": 14,
  "period": "2026-10-01",
  "filing_date": "2026-01-29",
  "carried_forward": false,
  "raum_total": 619456034.0,
  "raum_discretionary": 619456034.0,
  "raum_non_discretionary": 0.0,
  "raum_band": "500m_1b",
  "raum_band_label": "$500 million to $1 billion",
  "total_employees": 7,
  "advisory_employees": 4,
  "client_count_bucket": null,
  "clients_by_type": {
    "insurance_companies": {
      "raum": 619456034.0,
      "count": 25
    }
  },
  "compensation_types": [
    "percentage_of_aum"
  ],
  "advisory_activities": [
    "other"
  ],
  "wrap_fee_participant": false,
  "disclosure_yes_count": 0,
  "states_registered": [],
  "websites": [
    "https://icadv.com"
  ],
  "iapd_url": "https://adviserinfo.sec.gov/firm/summary/161281",
  "city_as_filed": "CHICAGO",
  "url": "https://advisorcensus.com/firm/innovative-capital-advisors-llc-chicago-il-161281",
  "display_name": "Innovative Capital Advisors, LLC",
  "summary": "Innovative Capital Advisors, LLC is an SEC-registered investment advisory firm in Chicago, IL, registered since 2012, reporting $500 million to $1 billion in regulatory assets under management in its Form ADV filing dated January 29, 2026.",
  "citation": "AdvisorCensus. Innovative Capital Advisors, LLC (CRD 161281): Form ADV filing data as of October 2026.",
  "registration_type_label": "SEC-registered investment adviser",
  "compensation_labels": [
    "A percentage of assets under your management"
  ],
  "advisory_activity_labels": [
    "Other"
  ],
  "quick_answers": [
    {
      "q": "How is Innovative Capital Advisors, LLC compensated?",
      "a": "On its Form ADV (Item 5.E, October 2026), Innovative Capital Advisors, LLC reports these compensation arrangements: a percentage of assets under its management. The amounts are in Item 5 of its Form ADV Part 2A brochure."
    },
    {
      "q": "Where is Innovative Capital Advisors, LLC located?",
      "a": "Innovative Capital Advisors, LLC's principal office is in Chicago, IL, according to its Form ADV; the February 2026 filing also lists 1 other office (Schedule D, Section 1.F)."
    },
    {
      "q": "Is Innovative Capital Advisors, LLC registered with the SEC or a state?",
      "a": "Innovative Capital Advisors, LLC is an SEC-registered investment advisory firm, registered since 2012. Status as filed: Approved. CRD 161281."
    },
    {
      "q": "How much does Innovative Capital Advisors, LLC manage?",
      "a": "Innovative Capital Advisors, LLC reports $619,456,034 in regulatory assets under management in its Form ADV filing dated January 29, 2026 (100% discretionary)."
    },
    {
      "q": "How have Innovative Capital Advisors, LLC's assets and staff changed since 2021?",
      "a": "In the Form ADV data for Innovative Capital Advisors, LLC: Regulatory assets under management: $543,980,017 in the October 2021 data and $619,456,034 in the October 2026 data, up 14%. Total employees: 8 in October 2021 and 7 in October 2026. Assets under management move with markets as well as with clients coming and going."
    },
    {
      "q": "What types of clients does Innovative Capital Advisors, LLC serve?",
      "a": "By number of clients on Form ADV Item 5.D: insurance companies (25)."
    },
    {
      "q": "Does Innovative Capital 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/161281"
    }
  ],
  "filing_history": [
    {
      "period": "2021-10-01",
      "regulatory_assets_under_management": 543980017.0,
      "total_employees": 8,
      "filing_date": "2021-02-04"
    },
    {
      "period": "2022-10-01",
      "regulatory_assets_under_management": 594566822.0,
      "total_employees": 8,
      "filing_date": "2022-01-26"
    },
    {
      "period": "2023-10-01",
      "regulatory_assets_under_management": 661354765.0,
      "total_employees": 8,
      "filing_date": "2023-01-18"
    },
    {
      "period": "2024-10-01",
      "regulatory_assets_under_management": 654932848.0,
      "total_employees": 7,
      "filing_date": "2024-08-08"
    },
    {
      "period": "2025-10-01",
      "regulatory_assets_under_management": 629321818.0,
      "total_employees": 7,
      "filing_date": "2025-02-12"
    },
    {
      "period": "2026-10-01",
      "regulatory_assets_under_management": 619456034.0,
      "total_employees": 7,
      "filing_date": "2026-01-29"
    }
  ],
  "recent_changes": [],
  "fees_from_brochure": null,
  "custodians": [],
  "custodians_note": null,
  "markdown_url": "https://advisorcensus.com/firm/innovative-capital-advisors-llc-chicago-il-161281.md",
  "clients": [
    {
      "type": "insurance_companies",
      "label": "Insurance companies",
      "count": 25,
      "fewer_than_5": false,
      "raum": 619456034.0
    }
  ],
  "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/161281",
    "operator": "BH Monitor Services, LLC",
    "license": "https://creativecommons.org/licenses/by/4.0/",
    "credit": "AdvisorCensus (advisorcensus.com), from SEC Form ADV data"
  }
}