# Trueman Brown

> Trueman Brown is an SEC-registered investment advisory firm in Lake Zurich, IL, registered since 2021, reporting $100 million to $500 million in regulatory assets under management in its Form ADV filing dated March 25, 2026.

- CRD: 141602
- Filed as: TRUEMAN BROWN
- Legal name: Trueman Brown, LLC
- Registration: SEC-registered investment adviser (status as filed: Approved)
- Location: Lake Zurich, IL
- Filing period: October 2026
- Form ADV filing dated: March 25, 2026
- SEC record (IAPD): https://adviserinfo.sec.gov/firm/summary/141602
- AdvisorCensus page: https://advisorcensus.com/firm/trueman-brown-lake-zurich-il-141602

## Quick answers

**How is Trueman Brown compensated?**
On its Form ADV (Item 5.E, October 2026), Trueman Brown reports these compensation arrangements: a percentage of assets under its management; hourly charges; fixed fees (other than subscription fees).

**How much does Trueman Brown charge?**
Its Form ADV Part 2A brochure dated March 25, 2026 states: Hourly rate: $300 an hour (standalone financial planning and consulting services). Fees can differ by service and may be negotiable; the brochure is the complete statement.

**Where is Trueman Brown located?**
Trueman Brown's principal office is in Lake Zurich, IL, according to its Form ADV; the April 2026 filing also lists 1 other office (Schedule D, Section 1.F).

**Is Trueman Brown registered with the SEC or a state?**
Trueman Brown is an SEC-registered investment advisory firm, registered since 2021. Status as filed: Approved. CRD 141602.

**How much does Trueman Brown manage?**
Trueman Brown reports $196,050,099 in regulatory assets under management in its Form ADV filing dated March 25, 2026 (97% discretionary).

**How have Trueman Brown's assets and staff changed since 2021?**
In the Form ADV data for Trueman Brown: Regulatory assets under management: $124,630,107 in the October 2021 data and $196,050,099 in the October 2026 data, up 57%. Total employees: 2 in October 2021 and 2 in October 2026. Assets under management move with markets as well as with clients coming and going.

**What types of clients does Trueman Brown serve?**
By number of clients on Form ADV Item 5.D: individuals (other than high net worth individuals) (83); high net worth individuals (45); pension and profit sharing plans (but not the plan participants or government pension plans) (1).

**Which custodians does Trueman Brown use?**
Trueman Brown's most recent Form ADV filing (Schedule D, Section 5.K(3)) lists National Financial Services LLC as a custodian holding 10% or more of its separately managed account assets.

**Does Trueman Brown 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/141602

**Does Trueman Brown state an account minimum?**
Its Form ADV Part 2A brochure dated March 25, 2026 says: "Trueman Brown does not impose a minimum portfolio value or minimum annual fee for starting and maintaining an investment management relationship."

**What changed in Trueman Brown's recent Form ADV filings?**
In the April 2026 filing data: Regulatory assets under management went from $173,315,977 to $196,050,099 (+13%).

## From the Form ADV filing

### Compensation (Item 5.E)
- A percentage of assets under your management
- Hourly charges
- Fixed fees (other than subscription fees)

### Fees and minimums (Form ADV Part 2A brochure dated March 25, 2026)

- Account minimum: None

> Trueman Brown does not impose a minimum portfolio value or minimum annual fee for starting and maintaining an investment management relationship.

- Minimum annual fee: None

> Trueman Brown does not impose a minimum portfolio value or minimum annual fee for starting and maintaining an investment management relationship.

- Hourly rate: $300 an hour (standalone financial planning and consulting services)

> Trueman Brown charges a fixed fee and/or hourly fee for its standalone financial planning and consulting services. These fees are negotiable, but generally range from $1, 500 to $8 ,000 on a fixed fee basis and/or $300 on an hourly basis.

As stated in the firm's brochure. Fees can differ by service and may be negotiable.

### Custodians (Schedule D, Section 5.K(3))
- National Financial Services LLC

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.

### Regulatory assets under management (Item 5.F)
- Total: $196,050,099
- Discretionary: $191,095,722
- Non-discretionary: $4,954,377

### Clients (Item 5.D)

| Client type | Clients | Assets |
| --- | --- | --- |
| Individuals (other than high net worth individuals) | 83 | $19,660,184 |
| High net worth individuals | 45 | $171,435,538 |
| Banking or thrift institutions | 0 | $0 |
| Investment companies | 0 | $0 |
| Business development companies | 0 | $0 |
| Pooled investment vehicles (other than investment companies and business development companies) | 0 | $0 |
| Pension and profit sharing plans (but not the plan participants or government pension plans) | 1 | $4,954,377 |
| Charitable organizations | 0 | $0 |
| State or municipal government entities (including government pension plans) | 0 | $0 |
| Other investment advisers | 0 | $0 |
| Insurance companies | 0 | $0 |
| Sovereign wealth funds and foreign official institutions | 0 | $0 |
| Corporations or other businesses not listed above | 0 | $0 |
| Other | 0 | $0 |

### Advisory services (Item 5.G)
- Financial planning services
- Portfolio management for individuals and/or small businesses
- Portfolio management for businesses (other than small businesses) or institutional clients

### Firm details
- Registered since: 2021 (5 years)
- Employees: 2 total, 1 performing advisory functions
- Wrap fee program participation: No
- States registered or notice-filed: IL, NY, PA, WI
- Disclosures (Item 11): Reports no disclosure items on Form ADV Item 11.

### Other offices (Schedule D, Section 1.F), as of the April 2026 filing
- Rolling Meadows, IL

## Assets and staff over time

| Data period | Regulatory assets under management | Employees | Filing dated |
| --- | --- | --- | --- |
| October 2021 | $124,630,107 | 2 | March 9, 2021 |
| October 2022 | $129,472,831 | 2 | March 25, 2022 |
| October 2023 | $126,025,290 | 2 | June 14, 2023 |
| October 2024 | $149,805,180 | 2 | August 14, 2024 |
| October 2025 | $173,315,977 | 2 | May 2, 2025 |
| October 2026 | $196,050,099 | 2 | March 25, 2026 |

Regulatory assets under management: $124,630,107 in the October 2021 data and $196,050,099 in the October 2026 data, up 57%.
Total employees: 2 in October 2021 and 2 in October 2026.

## Changes in the filing (last 12 months)

### April 2026
- Regulatory assets under management went from $173,315,977 to $196,050,099 (+13%).

## Source

Form ADV as filed, October 2026. Values appear as filed. Cite as: AdvisorCensus. Trueman Brown (CRD 141602): Form ADV filing data as of October 2026.