AdvisorCensus / Financial advisors / Wisconsin / Milwaukee / The Milwaukee Company
The Milwaukee Company
Filed as THE MILWAUKEE COMPANY · Legal name Estate Counselors, LLC
The Milwaukee Company is an SEC-registered investment advisory firm in Thiensville, WI, registered since 2004, reporting $1 billion to $5 billion in regulatory assets under management in its Form ADV filing dated September 18, 2026.
Quick answers
From the filingHow is The Milwaukee Company compensated?
On its Form ADV (Item 5.E, October 2026), The Milwaukee Company reports these compensation arrangements: a percentage of assets under its management.
Where is The Milwaukee Company located?
The Milwaukee Company's principal office is in Thiensville, WI, according to its Form ADV.
Is The Milwaukee Company registered with the SEC or a state?
The Milwaukee Company is an SEC-registered investment advisory firm, registered since 2004. Status as filed: Approved. CRD 123452.
How much does The Milwaukee Company manage?
The Milwaukee Company reports $1,345,777,922 in regulatory assets under management in its Form ADV filing dated September 18, 2026 (100% discretionary).
How have The Milwaukee Company's assets and staff changed since 2021?
In the Form ADV data for The Milwaukee Company: Regulatory assets under management: $931,606,650 in the October 2021 data and $1,345,777,922 in the October 2026 data, up 44%. Total employees: 5 in October 2021 and 7 in October 2026. Assets under management move with markets as well as with clients coming and going.
What types of clients does The Milwaukee Company serve?
By number of clients on Form ADV Item 5.D: high net worth individuals (29); corporations or other businesses not listed above (17); individuals (other than high net worth individuals) (8).
Which custodians does The Milwaukee Company use?
The Milwaukee Company's most recent Form ADV filing (Schedule D, Section 5.K(3)) lists Fidelity Brokerage Services LLC as a custodian holding 10% or more of its separately managed account assets.
Does The Milwaukee Company 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/123452
Does The Milwaukee Company state an account minimum?
Its Form ADV Part 2A brochure dated March 16, 2026 says: "In general, we require a minimum of $500,000 to open and maintain an advisory account. At our discretion, we may waive this minimum account size."
What changed in The Milwaukee Company's recent Form ADV filings?
In the April 2026 filing data: Regulatory assets under management went from $1,135,716,819 to $1,345,777,922 (+18%).
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
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 brochure for them.
Account minimum: $500,000 (the brochure says it may be waived or negotiated)
The brochure's wording
In general, we require a minimum of $500,000 to open and maintain an advisory account. At our discretion, we may waive this minimum account size.
As stated in the firm's Form ADV Part 2A brochure dated March 16, 2026. Fees can differ by service and may be negotiable; the brochure is the complete statement. Read the brochure on the SEC's IAPD site
Regulatory assets under management
Item 5.F$1,345,777,922 as of October 2026, filing dated September 18, 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)
Registration and firm details
Items 1, 2, 5- Legal name
- Estate Counselors, LLC
- Also doing business as
- THE MILWAUKEE COMPANY
- Registration
- SEC-registered investment adviser. Status as filed: Approved.
- Registered since
- 2004 (22 years)
- Employees
- Total: 7. Performing investment advisory functions: 4.
- 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
-
2 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 | $1,345,777,922 | 7 | September 18, 2026 |
| October 2025 | $1,135,716,819 | 7 | April 25, 2025 |
| October 2024 | $1,081,811,573 | 7 | July 24, 2024 |
| October 2023 | $936,012,576 | 7 | March 24, 2023 |
| October 2022 | $1,046,632,034 | 6 | March 31, 2022 |
| October 2021 | $931,606,650 | 5 | August 25, 2021 |
Regulatory assets under management: $931,606,650 in the October 2021 data and $1,345,777,922 in the October 2026 data, up 44%.
Total employees: 5 in October 2021 and 7 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
- Regulatory assets under management went from $1,135,716,819 to $1,345,777,922 (+18%).
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. The Milwaukee Company (CRD 123452): Form ADV filing data as of October 2026. https://advisorcensus.com/firm/the-milwaukee-company-thiensville-wi-123452