AdvisorCensus / Financial advisors / Wisconsin / Madison / Madison Asset Management
Madison Asset Management
Filed as MADISON ASSET MANAGEMENT · Legal name Madison Asset Management, LLC
Madison Asset Management is an SEC-registered investment advisory firm in Madison, WI, registered since 2004, reporting $1 billion to $5 billion in regulatory assets under management in its Form ADV filing dated March 20, 2026.
Quick answers
From the filingHow is Madison Asset Management compensated?
On its Form ADV (Item 5.E, October 2026), Madison Asset Management reports these compensation arrangements: a percentage of assets under its management; fixed fees (other than subscription fees).
Where is Madison Asset Management located?
Madison Asset Management's principal office is in Madison, WI, according to its Form ADV; the April 2026 filing also lists 1 other office (Schedule D, Section 1.F).
Is Madison Asset Management registered with the SEC or a state?
Madison Asset Management is an SEC-registered investment advisory firm, registered since 2004. Status as filed: Approved. CRD 130874.
How much does Madison Asset Management manage?
Madison Asset Management reports $4,862,471,814 in regulatory assets under management in its Form ADV filing dated March 20, 2026 (100% discretionary).
How have Madison Asset Management's assets and staff changed since 2021?
In the Form ADV data for Madison Asset Management: Regulatory assets under management: $5,314,374,742 in the October 2021 data and $4,862,471,814 in the October 2026 data, down 9%. Total employees: 91 in October 2021 and 92 in October 2026. Assets under management move with markets as well as with clients coming and going.
What types of clients does Madison Asset Management serve?
By number of clients on Form ADV Item 5.D: investment companies (31); banking or thrift institutions (3); pension and profit sharing plans (but not the plan participants or government pension plans) (2).
Does Madison Asset Management 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/130874
What changed in Madison Asset Management's recent Form ADV filings?
In the April 2026 filing data: Employees performing advisory functions went from 42 to 44.
From the Form ADV filing
Every figure below is as the firm filed it with regulators, as of October 2026.
How the firm is compensated
Item 5.E- A percentage of assets under your management
- Fixed fees (other than subscription fees)
Item 5.E lists how the firm is compensated for its advice; Items 5.B, 6.A, and 7.A show whether its people or related companies can also earn commissions. Percentage of assets, fixed, hourly, subscription, and performance-based fees come from clients (a performance-based fee depends on investment results); commissions come with a sale or a trade, often from the company behind the product. How fees, commissions, and other arrangements differ
Fees and minimums
Form ADV Part 2AThe brochure lists different fees for different services or strategies. See the firm's brochure (dated March 20, 2026) for its fees and any account minimum, on the SEC's IAPD site.
Regulatory assets under management
Item 5.F$4,862,471,814 as of October 2026, filing dated March 20, 2026.
A measure of scale, not skill or returns. Discretionary means the firm decides trades; non-discretionary means clients approve each one. What assets under management means
Who the firm serves
Item 5.DA firm with no individual clients is an institutional manager even if it manages billions; the mix tells you whom the practice is built around.
Advisory services
Item 5.G- Portfolio management for individuals and/or small businesses
- Portfolio management for investment companies (and business development companies)
- Portfolio management for businesses (other than small businesses) or institutional clients
Registration and firm details
Items 1, 2, 5- Legal name
- Madison Asset Management, LLC
- Registration
- SEC-registered investment adviser. Status as filed: Approved.
- Registered since
- 2004 (22 years)
- Employees
- Total: 92. Performing investment advisory functions: 44.
- Wrap fee program participation
- No.
- Other offices (Schedule D, Section 1.F)
-
1 other office, as of the April 2026 filing
- States registered or notice-filed
-
53 states or jurisdictions
SEC-registered investment advisers are examined by the SEC. SEC, state, and exempt registration
Disclosures
Item 11None Reports no disclosure items on Form ADV Item 11. View on IAPD.
Item 11 asks about criminal, regulatory, and civil events involving the firm and its advisory personnel. The detail of each yes answer is on the IAPD record. Reading a firm's disclosures
Assets and staff over time
Items 5.A, 5.F| Data period | Assets under management | Employees | Filing dated |
|---|---|---|---|
| October 2026 | $4,862,471,814 | 92 | March 20, 2026 |
| October 2025 | $5,176,717,599 | 94 | March 28, 2025 |
| October 2024 | $4,484,845,089 | 95 | March 22, 2024 |
| October 2023 | $3,920,106,732 | 96 | March 29, 2023 |
| October 2022 | $5,413,292,510 | 95 | June 10, 2022 |
| October 2021 | $5,314,374,742 | 91 | June 11, 2021 |
Regulatory assets under management: $5,314,374,742 in the October 2021 data and $4,862,471,814 in the October 2026 data, down 9%.
Total employees: 91 in October 2021 and 92 in October 2026.
As filed in each year's data for the same month. Assets under management move with markets as well as with clients coming and going; they measure scale, not skill or returns. Most firms update these figures once a year.
Changes in the filing
Last 12 months- April 2026
- Employees performing advisory functions went from 42 to 44.
Compared month to month from the SEC's monthly adviser data and the state compilation feed. Owners and control persons are summarized, never named.
Websites listed on Form ADV
Item 1.ISource: Form ADV, as of October 2026. Values appear as filed; a value the firm did not report is shown as "Not reported."
Cite this page
AdvisorCensus. Madison Asset Management (CRD 130874): Form ADV filing data as of October 2026. https://advisorcensus.com/firm/madison-asset-management-madison-wi-130874