# Great Lakes Advisors

Great Lakes Advisors is a Bank / Wealth / Trust based in Chicago, United States.

## Overview

- **Organization type:** Bank / Wealth / Trust
- **Headquarters:** Chicago, United States
- **Region:** North America
- **Address:** Chicago, IL, United States
- **Founded:** 1981
- **Assets under management:** $9.9B
- **Website:** greatlakesadvisors.com
- **LinkedIn:** https://www.linkedin.com/company/great-lakes-advisors

## Regulatory record

- **CRD number:** 110757
- **SEC file number:** 801-16937
- **Registration status:** APPROVED
- **Latest Form ADV filing:** 2026-05-19T05:00:00.000Z
- **Reports private funds:** Yes
- **Private funds reported:** 0
- **IAPD record:** https://adviserinfo.sec.gov/firm/summary/110757

## About

Great Lakes Advisors was established in 1981 and operates as an SEC-registered investment advisor headquartered in Chicago. The firm serves a client base that includes high-net-worth individuals, corporate pension plans, and institutional accounts, delivering discretionary portfolio management through individually managed accounts rather than commingled vehicles. The firm's longevity in the Midwest wealth management market reflects a client-by-client fiduciary model — each relationship governed by an Investment Policy Statement that dictates allocation bands, risk tolerance, and income requirements. The firm's investment approach centers on fundamental bottom-up equity research and investment-grade fixed income, with portfolio construction that accounts for tax sensitivity and concentrated position management when relevant. Equity strategies emphasize large-cap domestic stocks selected through internal research processes, while fixed-income portfolios focus on municipal and corporate bonds laddered to match client liquidity needs. The firm does not operate proprietary funds or private market vehicles, positioning itself as a direct public-markets manager for families and institutions that prefer transparent, liquid mandates. Great Lakes Advisors maintains its single-office presence in Chicago, with no publicly identified satellite locations or affiliated wealth management entities. The firm has not disclosed team size or total assets under management publicly. Structurally, the firm occupies a distinct lane as a pure-play RIA that has resisted consolidation into a bank trust department, wirehouse, or aggregator platform. This independence allows the firm to select custody partners and execute trades without proprietary product pressure, but it also limits the in-house resources available for alternatives, estate planning, or family office services that larger competitors bundle.

## Questions

### What is Great Lakes Advisors' known posture on co-investments alongside external GPs?

The firm does not have a publicly known co-investment program and does not operate as a fund-of-funds. The investment model relies on direct security selection within client-managed accounts, making the concept of GP co-investment inapplicable to their mandate structure.

### How is Great Lakes Advisors structured from a regulatory standpoint?

The firm is an SEC-registered investment advisor, meaning it operates under a fiduciary standard that legally requires it to put client interests ahead of its own. This regulatory posture separates it from broker-dealers operating under a suitability standard. The firm does not act as a custodian; client assets are held at third-party qualified custodians.

### What investment stages or market capitalizations does Great Lakes Advisors typically target?

The equity strategies concentrate on large-capitalization domestic stocks — established, liquid names rather than small-cap or micro-cap positions. Fixed-income portfolios emphasize investment-grade municipal and corporate bonds. The firm does not publicly market strategies in emerging markets, high-yield credit, or private placements.

## Related profiles

- [Great Honour Asset Management](https://altss.com/profile/great-honour-asset-management)
- [Great Lakes Private Wealth](https://altss.com/profile/great-lakes-private-wealth)

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Last updated: 2026-08-11T02:43:31.692Z

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