{
  "crd_number": 249787,
  "slug": "m1-advisory-chicago-il-249787",
  "primary_business_name": "M1 ADVISORY",
  "legal_name": "M1 ADVISORY SERVICES 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": "2015-08-11",
  "years_registered": 11,
  "period": "2026-10-01",
  "filing_date": "2026-10-01",
  "carried_forward": false,
  "raum_total": 1480000000.0,
  "raum_discretionary": 0.0,
  "raum_non_discretionary": 1480000000.0,
  "raum_band": "1b_5b",
  "raum_band_label": "$1 billion to $5 billion",
  "total_employees": 14,
  "advisory_employees": 0,
  "client_count_bucket": null,
  "clients_by_type": {
    "individuals": {
      "raum": 1480000000.0,
      "count": 11400
    }
  },
  "compensation_types": [
    "percentage_of_aum"
  ],
  "advisory_activities": [
    "portfolio_management_businesses_institutional",
    "portfolio_management_individuals",
    "portfolio_management_pooled_vehicles"
  ],
  "wrap_fee_participant": false,
  "disclosure_yes_count": 2,
  "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",
    "VI",
    "VT",
    "WA",
    "WI",
    "WV",
    "WY"
  ],
  "websites": [
    "https://m1.com"
  ],
  "iapd_url": "https://adviserinfo.sec.gov/firm/summary/249787",
  "disclosure_items": [
    {
      "item": "11.E(2)",
      "question": "Has a self-regulatory organization or a commodities exchange ever found that the firm or an advisory affiliate was involved in a violation of its rules, other than a minor rule violation under a plan the SEC approved?"
    },
    {
      "item": "11.G",
      "question": "Is the firm or an advisory affiliate now the subject of a regulatory proceeding that could result in a yes answer to any part of 11.C, 11.D, or 11.E?"
    }
  ],
  "city_as_filed": "CHICAGO",
  "url": "https://advisorcensus.com/firm/m1-advisory-chicago-il-249787",
  "display_name": "M1 Advisory",
  "summary": "M1 Advisory is an SEC-registered investment advisory firm in Chicago, IL, registered since 2015, reporting $1 billion to $5 billion in regulatory assets under management in its Form ADV filing dated October 1, 2026.",
  "citation": "AdvisorCensus. M1 Advisory (CRD 249787): 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 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"
  ],
  "quick_answers": [
    {
      "q": "How is M1 Advisory compensated?",
      "a": "On its Form ADV (Item 5.E, October 2026), M1 Advisory reports these compensation arrangements: a percentage of assets under its management."
    },
    {
      "q": "What does M1 Advisory's brochure say about its fees?",
      "a": "Its Form ADV Part 2A brochure dated July 8, 2026 states: Asset-based fee: up to 0.2% of assets a year (the maximum the brochure states). Fees can differ by service and may be negotiable; the brochure is the complete statement."
    },
    {
      "q": "Where is M1 Advisory located?",
      "a": "M1 Advisory's principal office is in Chicago, IL, according to its Form ADV."
    },
    {
      "q": "Is M1 Advisory registered with the SEC or a state?",
      "a": "M1 Advisory is an SEC-registered investment advisory firm, registered since 2015. Status as filed: Approved. CRD 249787."
    },
    {
      "q": "How much does M1 Advisory manage?",
      "a": "M1 Advisory reports $1,480,000,000 in regulatory assets under management in its Form ADV filing dated October 1, 2026 (0% discretionary)."
    },
    {
      "q": "How have M1 Advisory's assets and staff changed since 2021?",
      "a": "In the Form ADV data for M1 Advisory: Regulatory assets under management: $0 in the October 2021 data and $1,480,000,000 in the October 2026 data. Total employees: 13 in October 2021 and 14 in October 2026. Assets under management move with markets as well as with clients coming and going."
    },
    {
      "q": "What types of clients does M1 Advisory serve?",
      "a": "By number of clients on Form ADV Item 5.D: individuals (other than high net worth individuals) (11,400)."
    },
    {
      "q": "Which custodians does M1 Advisory use?",
      "a": "M1 Advisory's most recent Form ADV filing (Schedule D, Section 5.K(3)) lists Apex Clearing Corporation as a custodian holding 10% or more of its separately managed account assets."
    },
    {
      "q": "Does M1 Advisory report any disciplinary disclosures?",
      "a": "Reports 2 disclosure items on Form ADV Item 11: yes answers to 11.E(2) (self-regulatory organization's finding of a rule violation) and 11.G (pending regulatory proceeding). 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/249787"
    },
    {
      "q": "Does M1 Advisory state an account minimum?",
      "a": "Its Form ADV Part 2A brochure dated July 8, 2026 says: \"The Firm does not impose a minimum account size or minimum investment amount.\""
    },
    {
      "q": "What changed in M1 Advisory's recent Form ADV filings?",
      "a": "In the October 2026 filing data: Regulatory assets under management went from $633,573 to $1,480,000,000 (+233496%)."
    }
  ],
  "filing_history": [
    {
      "period": "2021-10-01",
      "regulatory_assets_under_management": 0.0,
      "total_employees": 13,
      "filing_date": "2021-03-05"
    },
    {
      "period": "2022-10-01",
      "regulatory_assets_under_management": 0.0,
      "total_employees": 20,
      "filing_date": "2022-09-12"
    },
    {
      "period": "2023-10-01",
      "regulatory_assets_under_management": 0.0,
      "total_employees": 20,
      "filing_date": "2023-07-13"
    },
    {
      "period": "2024-10-01",
      "regulatory_assets_under_management": null,
      "total_employees": 24,
      "filing_date": "2024-05-21"
    },
    {
      "period": "2025-10-01",
      "regulatory_assets_under_management": null,
      "total_employees": 17,
      "filing_date": "2025-03-11"
    },
    {
      "period": "2026-10-01",
      "regulatory_assets_under_management": 1480000000.0,
      "total_employees": 14,
      "filing_date": "2026-10-01"
    }
  ],
  "recent_changes": [
    {
      "period": "2026-10-01",
      "period_label": "October 2026",
      "notes": [
        "Regulatory assets under management went from $633,573 to $1,480,000,000 (+233496%)."
      ]
    },
    {
      "period": "2026-05-01",
      "period_label": "May 2026",
      "notes": [
        "Registered or notice-filed in AK, AL, AR, AZ, CA, CO, CT, DC, DE, FL, GA, HI, IA, ID, 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."
      ]
    }
  ],
  "fees_from_brochure": {
    "source": "Form ADV Part 2A brochure dated July 8, 2026",
    "tiers": [],
    "flat_rate": null,
    "stated_range": null,
    "stated_maximum": "0.2% of assets a year",
    "account_minimum": "None",
    "account_minimum_may_be_waived": false,
    "minimum_annual_fee": null,
    "figures": [
      {
        "label": "Asset-based fee",
        "statements": [
          "Asset-based fee: up to 0.2% of assets a year (the maximum the brochure states)"
        ],
        "quotes": [
          "The annual advisory fee charged to a client's account will not exceed 0.20% per year.",
          "The Firm does not currently operate a tiered or breakpoint fee schedule."
        ]
      },
      {
        "label": "Account minimum",
        "statements": [
          "Account minimum: None"
        ],
        "quotes": [
          "The Firm does not impose a minimum account size or minimum investment amount."
        ]
      }
    ],
    "quotes": [
      "The annual advisory fee charged to a client's account will not exceed 0.20% per year.",
      "The Firm does not currently operate a tiered or breakpoint fee schedule.",
      "The Firm does not impose a minimum account size or minimum investment amount."
    ],
    "note": "As stated in the firm's brochure; fees can differ by service and may be negotiable."
  },
  "custodians": [
    {
      "name": "Apex Clearing Corporation",
      "name_as_filed": "APEX CLEARING CORPORATION",
      "affiliated": false
    }
  ],
  "custodians_note": "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.",
  "markdown_url": "https://advisorcensus.com/firm/m1-advisory-chicago-il-249787.md",
  "clients": [
    {
      "type": "individuals",
      "label": "Individuals (other than high net worth individuals)",
      "count": 11400,
      "fewer_than_5": false,
      "raum": 1480000000.0
    }
  ],
  "disclosure_line": "Reports 2 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/249787",
    "operator": "BH Monitor Services, LLC",
    "license": "https://creativecommons.org/licenses/by/4.0/",
    "credit": "AdvisorCensus (advisorcensus.com), from SEC Form ADV data"
  }
}