{
  "crd_number": 287718,
  "slug": "innovator-capital-management-llc-wheaton-il-287718",
  "primary_business_name": "INNOVATOR CAPITAL MANAGEMENT, LLC",
  "legal_name": "INNOVATOR CAPITAL MANAGEMENT, LLC",
  "dbas": [],
  "city": "Wheaton",
  "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": "2017-03-09",
  "years_registered": 9,
  "period": "2026-10-01",
  "filing_date": "2026-06-18",
  "carried_forward": false,
  "raum_total": 30237128227.0,
  "raum_discretionary": 30237128227.0,
  "raum_non_discretionary": 0.0,
  "raum_band": "over_5b",
  "raum_band_label": "Over $5 billion",
  "total_employees": 73,
  "advisory_employees": 6,
  "client_count_bucket": null,
  "clients_by_type": {
    "investment_companies": {
      "raum": 30237128227.0,
      "count": 1
    }
  },
  "compensation_types": [
    "percentage_of_aum"
  ],
  "advisory_activities": [
    "portfolio_management_investment_companies"
  ],
  "wrap_fee_participant": false,
  "disclosure_yes_count": 7,
  "states_registered": [
    "IL"
  ],
  "websites": [
    "https://am.gs.com",
    "https://innovatoretfs.com",
    "https://linkedin.com/company/innovatoretfs",
    "https://linkedin.com/showcase/goldman-sachs-assetmanagement",
    "https://twitter.com/innovatoretfs",
    "https://youtube.com/channel/UCoOlk4ZQLV4wE8eBlqDin2g"
  ],
  "iapd_url": "https://adviserinfo.sec.gov/firm/summary/287718",
  "disclosure_items": [
    {
      "item": "11.A(2)",
      "question": "In the past ten years, has the firm or an advisory affiliate been charged with a felony?"
    },
    {
      "item": "11.C(2)",
      "question": "Has the SEC or the CFTC ever found that the firm or an advisory affiliate was involved in a violation of SEC or CFTC regulations or statutes?"
    },
    {
      "item": "11.C(4)",
      "question": "Has the SEC or the CFTC ever entered an order against the firm or an advisory affiliate in connection with investment-related activity?"
    },
    {
      "item": "11.C(5)",
      "question": "Has the SEC or the CFTC ever imposed a civil money penalty on the firm or an advisory affiliate, or ordered the firm or an advisory affiliate to cease and desist from an activity?"
    },
    {
      "item": "11.D(2)",
      "question": "Has another federal regulator, a state regulator, or a foreign financial regulator ever found that the firm or an advisory affiliate was involved in a violation of investment-related regulations or statutes?"
    },
    {
      "item": "11.D(4)",
      "question": "In the past ten years, has another federal regulator, a state regulator, or a foreign financial regulator entered an order against the firm or an advisory affiliate in connection with investment-related activity?"
    },
    {
      "item": "11.D(5)",
      "question": "Has another federal regulator, a state regulator, or a foreign financial regulator ever denied, suspended, or revoked the registration or license of the firm or an advisory affiliate, prevented either by order from associating with an investment-related business, or restricted either one's activity?"
    }
  ],
  "city_as_filed": "WHEATON",
  "url": "https://advisorcensus.com/firm/innovator-capital-management-llc-wheaton-il-287718",
  "display_name": "Innovator Capital Management, LLC",
  "summary": "Innovator Capital Management, LLC is an SEC-registered investment advisory firm in Wheaton, IL, registered since 2017, reporting over $5 billion in regulatory assets under management in its Form ADV filing dated June 18, 2026.",
  "citation": "AdvisorCensus. Innovator Capital Management, LLC (CRD 287718): 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": [
    "Portfolio management for investment companies (and business development companies)"
  ],
  "quick_answers": [
    {
      "q": "How is Innovator Capital Management, LLC compensated?",
      "a": "On its Form ADV (Item 5.E, October 2026), Innovator Capital Management, LLC reports these compensation arrangements: a percentage of assets under its management."
    },
    {
      "q": "How much does Innovator Capital Management, LLC charge?",
      "a": "Its Form ADV Part 2A brochure dated April 30, 2026 states: Asset-based fee: 0.47% to 0.89% a year (a range, as the brochure states it). Fees can differ by service and may be negotiable; the brochure is the complete statement."
    },
    {
      "q": "Where is Innovator Capital Management, LLC located?",
      "a": "Innovator Capital Management, LLC's principal office is in Wheaton, IL, according to its Form ADV."
    },
    {
      "q": "Is Innovator Capital Management, LLC registered with the SEC or a state?",
      "a": "Innovator Capital Management, LLC is an SEC-registered investment advisory firm, registered since 2017. Status as filed: Approved. CRD 287718."
    },
    {
      "q": "How much does Innovator Capital Management, LLC manage?",
      "a": "Innovator Capital Management, LLC reports $30,237,128,227 in regulatory assets under management in its Form ADV filing dated June 18, 2026 (100% discretionary)."
    },
    {
      "q": "How have Innovator Capital Management, LLC's assets and staff changed since 2021?",
      "a": "In the Form ADV data for Innovator Capital Management, LLC: Regulatory assets under management: $4,055,730,000 in the October 2021 data and $30,237,128,227 in the October 2026 data, up 646%. Total employees: 30 in October 2021 and 73 in October 2026. Assets under management move with markets as well as with clients coming and going."
    },
    {
      "q": "What types of clients does Innovator Capital Management, LLC serve?",
      "a": "By number of clients on Form ADV Item 5.D: investment companies (1)."
    },
    {
      "q": "Does Innovator Capital Management, LLC report any disciplinary disclosures?",
      "a": "Reports 7 disclosure items on Form ADV Item 11: yes answers to 1 question about criminal matters and 6 questions about regulatory matters (11.A(2), 11.C(2), 11.C(4), 11.C(5), 11.D(2), 11.D(4), 11.D(5)). Each question covers the firm and its advisory affiliates, and one event can produce several yes answers. The detail of any item is on the firm's SEC record: https://adviserinfo.sec.gov/firm/summary/287718"
    },
    {
      "q": "What changed in Innovator Capital Management, LLC's recent Form ADV filings?",
      "a": "In the May 2026 filing data: Item 11 disclosure answers changed: 7 yes answers, previously 0 (now yes: 11.A(2), 11.C(2), 11.C(4), 11.C(5), 11.D(2), 11.D(4), 11.D(5)). Updated its list of owners and control persons (Schedule A)."
    }
  ],
  "filing_history": [
    {
      "period": "2021-10-01",
      "regulatory_assets_under_management": 4055730000.0,
      "total_employees": 30,
      "filing_date": "2021-03-29"
    },
    {
      "period": "2022-10-01",
      "regulatory_assets_under_management": 5961518469.0,
      "total_employees": 30,
      "filing_date": "2022-09-27"
    },
    {
      "period": "2023-10-01",
      "regulatory_assets_under_management": 11052562740.0,
      "total_employees": 42,
      "filing_date": "2023-09-13"
    },
    {
      "period": "2024-10-01",
      "regulatory_assets_under_management": 17432817984.0,
      "total_employees": 48,
      "filing_date": "2024-03-27"
    },
    {
      "period": "2025-10-01",
      "regulatory_assets_under_management": 22284989873.0,
      "total_employees": 55,
      "filing_date": "2025-04-21"
    },
    {
      "period": "2026-10-01",
      "regulatory_assets_under_management": 30237128227.0,
      "total_employees": 73,
      "filing_date": "2026-06-18"
    }
  ],
  "recent_changes": [
    {
      "period": "2026-05-01",
      "period_label": "May 2026",
      "notes": [
        "Item 11 disclosure answers changed: 7 yes answers, previously 0 (now yes: 11.A(2), 11.C(2), 11.C(4), 11.C(5), 11.D(2), 11.D(4), 11.D(5)).",
        "Updated its list of owners and control persons (Schedule A)."
      ]
    },
    {
      "period": "2026-04-01",
      "period_label": "April 2026",
      "notes": [
        "Regulatory assets under management went from $22,284,989,873 to $30,237,128,227 (+36%).",
        "Updated its list of owners and control persons (Schedule A)."
      ]
    }
  ],
  "fees_from_brochure": {
    "source": "Form ADV Part 2A brochure dated April 30, 2026",
    "provided_by_the_firm": false,
    "tiers": [],
    "flat_rate": null,
    "stated_range": "0.47% to 0.89% a year",
    "stated_maximum": null,
    "account_minimum": null,
    "account_minimum_may_be_waived": false,
    "minimum_annual_fee": null,
    "planning_fees": [],
    "figures": [
      {
        "label": "Asset-based fee",
        "statements": [
          "Asset-based fee: 0.47% to 0.89% a year (a range, as the brochure states it)"
        ],
        "quotes": [
          "Each Fund’s prospectus sets forth the applicable Unitary Management Fee, which generally ranges from 0.47% to 0.89% annually."
        ]
      }
    ],
    "values": {
      "tiers": [],
      "range_pct": [
        0.47,
        0.89
      ],
      "max_pct": null,
      "account_minimum": null,
      "minimum_annual_fee": null,
      "planning": []
    },
    "quotes": [
      "Each Fund’s prospectus sets forth the applicable Unitary Management Fee, which generally ranges from 0.47% to 0.89% annually."
    ],
    "note": "As stated in the firm's brochure; fees can differ by service and may be negotiable."
  },
  "custodians": [],
  "custodians_note": null,
  "markdown_url": "https://advisorcensus.com/firm/innovator-capital-management-llc-wheaton-il-287718.md",
  "clients": [
    {
      "type": "investment_companies",
      "label": "Investment companies",
      "count": 1,
      "fewer_than_5": false,
      "raum": 30237128227.0
    }
  ],
  "disclosure_line": "Reports 7 disclosure items on Form ADV Item 11.",
  "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/287718",
    "operator": "BH Monitor Services, LLC",
    "license": "https://creativecommons.org/licenses/by/4.0/",
    "credit": "AdvisorCensus (advisorcensus.com), from SEC Form ADV data"
  }
}