AdvisorCensus / Financial advisors / Illinois / Chicago / Model Wealth
Model Wealth is an SEC-registered investment advisory firm in Wheaton, IL, registered since 2019, reporting $100 million to $500 million in regulatory assets under management in its Form ADV filing dated May 5, 2026.
Quick answers
From the filingHow is Model Wealth compensated?
On its Form ADV (Item 5.E, October 2026), Model Wealth reports these compensation arrangements: a percentage of assets under its management; hourly charges; fixed fees (other than subscription fees).
Where is Model Wealth located?
Model Wealth's principal office is in Wheaton, IL, according to its Form ADV.
Is Model Wealth registered with the SEC or a state?
Model Wealth is an SEC-registered investment advisory firm, registered since 2019. Status as filed: Approved. CRD 299798.
How much does Model Wealth manage?
Model Wealth reports $318,159,850 in regulatory assets under management in its Form ADV filing dated May 5, 2026 (99% discretionary).
How have Model Wealth's assets and staff changed since 2021?
In the Form ADV data for Model Wealth: Regulatory assets under management: $136,714,715 in the October 2021 data and $318,159,850 in the October 2026 data, up 133%. Total employees: 2 in October 2021 and 5 in October 2026. Assets under management move with markets as well as with clients coming and going.
What types of clients does Model Wealth serve?
By number of clients on Form ADV Item 5.D: high net worth individuals (94); individuals (other than high net worth individuals) (63); corporations or other businesses not listed above (2).
Which custodians does Model Wealth use?
Model Wealth's most recent Form ADV filing (Schedule D, Section 5.K(3)) lists Charles Schwab & Co., Inc. as a custodian holding 10% or more of its separately managed account assets.
Does Model Wealth 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/299798
What changed in Model Wealth's recent Form ADV filings?
In the June 2026 filing data: Employees performing advisory functions went from 4 to 5.
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
- Hourly charges
- 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 2ASee the firm's brochure (dated May 5, 2026) for its fees and any account minimum, on the SEC's IAPD site.
Regulatory assets under management
Item 5.F$318,159,850 as of October 2026, filing dated May 5, 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- Financial planning services
- Portfolio management for individuals and/or small businesses
Registration and firm details
Items 1, 2, 5- Legal name
- Model Wealth , Inc.
- Registration
- SEC-registered investment adviser. Status as filed: Approved.
- Registered since
- 2019 (7 years)
- Employees
- Total: 5. Performing investment advisory functions: 5.
- Wrap fee program participation
- No.
- Custodians (Schedule D, Section 5.K(3))
-
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.
- States registered or notice-filed
-
3 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 | $318,159,850 | 5 | May 5, 2026 |
| October 2025 | $286,110,266 | 4 | May 21, 2025 |
| October 2024 | $200,331,800 | 4 | March 19, 2024 |
| October 2023 | $162,450,148 | 4 | August 25, 2023 |
| October 2022 | $180,747,498 | 3 | March 28, 2022 |
| October 2021 | $136,714,715 | 2 | February 25, 2021 |
Regulatory assets under management: $136,714,715 in the October 2021 data and $318,159,850 in the October 2026 data, up 133%.
Total employees: 2 in October 2021 and 5 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- June 2026
- Employees performing advisory functions went from 4 to 5.
- May 2026
- Regulatory assets under management went from $286,110,266 to $318,159,850 (+11%).
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. Model Wealth (CRD 299798): Form ADV filing data as of October 2026. https://advisorcensus.com/firm/model-wealth-wheaton-il-299798