Clients
Asset Allocation & Management serves 123 clients, 120 of them insurance companies. The average client has about $223 million with the firm, and high-net-worth clients hold 1% of its $27.5 billion in assets.
- Insurance companies120 clients99%
- OtherHigh-net-worth individuals, Corporations and other businesses1%
Show client breakdownHide client breakdown
| Client type | Clients | Regulatory AUM | Share | Avg. per client |
|---|---|---|---|---|
| High-net-worth individuals | 2 | $201,484,266 | 0.7% | $100.7M |
| Insurance companies | 120 | $27,116,159,897 | 98.6% | $226.0M |
| Corporations and other businesses | 1 | $171,077,544 | 0.6% | $171.1M |
| Total | 123 | $27,488,721,707 | 100% | $223.5M |
- Clients
- 2
- Regulatory AUM
- $201,484,266
- Share
- 0.7%
- Avg. per client
- $100.7M
- Clients
- 120
- Regulatory AUM
- $27,116,159,897
- Share
- 98.6%
- Avg. per client
- $226.0M
- Clients
- 1
- Regulatory AUM
- $171,077,544
- Share
- 0.6%
- Avg. per client
- $171.1M
Total
- Clients
- 123
- Regulatory AUM
- $27,488,721,707
- Share
- 100%
- Avg. per client
- $223.5M
What it does
Asset Allocation & Management provides portfolio management for individuals and small businesses, portfolio management for institutions and selecting other managers. It is paid through a percentage of assets, fixed fees and performance-based fees.
Asset Allocation & Management advises no private funds.
97.2% of assets ($26.73B across 813 accounts) are managed with discretion; $759.9M across 33 accounts are not. 2% of clients are outside the U.S., and 0 clients received advice without assets under management last fiscal year.
What the accounts hold
- Stocks1%
- Bonds61%
- Investment grade corporate bonds41%
- U.S. government and agency bonds10%
- State and local bonds7%
- High-yield corporate bonds3%
- Cash4%
- Other34%
- Mbs passthrough, cmbs, abs, cmo, clo34%
Custodians
Asset Allocation & Management’s client accounts are held mainly at U.S. Bancorp, with 34% of managed assets, and The Bank of New York Mellon, with 16%. Asset Allocation & Management does not have custody of client assets.
- U.S. BancorpU.S. Bancorp · Minneapolis, MN · $9.44B34%
- The Bank of New York MellonThe Bank of New York Mellon · New York, NY · $4.34B16%
- All other custodians$13.70B50%
Ownership and leadership
Securian Aam Holdings, LLC owns 50% to 75% of Asset Allocation & Management, and Dan Byrnes is its CEO.
- Owns 50% to 75% of Asset Allocation & Management Company, LLC
Securian Aam Holdings, LLC
Control person · since December 2014
- Owns 75% or more of Securian Aam Holdings, LLC
Minnesota Life Insurance Company
Control person · since December 2014
- Owns 75% or more of Minnesota Life Insurance Company
Securian Financial Group, Inc.
Control person · since October 1998
- Owns 75% or more of Securian Financial Group, Inc.
Securian Holding Company
Control person · since October 1998
- Owns 75% or more of Securian Holding Company
Minnesota Mutual Companies, Inc.
Control person · since October 1998
- Owns 5% to 10% of Asset Allocation & Management Company, LLC
Schaefco, Inc.
Control person · since December 2007
- Owns 75% or more of Schaefco, Inc.
John Schaefer
Control person · since December 2007
- Owns 5% to 10% of Asset Allocation & Management Company, LLC
Bravo, Inc.
Control person · since January 2010
- Owns 75% or more of Bravo, Inc.
Marco Bravo
Control person · since January 2010
Leadership
- Dan ByrnesChief Executive Officer
- Joseph BorgmannChief Financial Officer
- Chelsea KlassaChief Compliance Officer
- Patrick BoydDirector
- Marco BravoDirector
- Eric GoodmanDirector
- Suzette HuovinenDirector
- John SchaeferManaging Member
- Timothy SenechalleChief Investment Officer
Staff
- 49 employees
- 30 in advisory functions
Reported holdings
Asset Allocation & Management’s reported 13F holdings total $307K across 67 positions, and the ten largest make up 77.1% of it.
- $307K
- Reported 13F value
- 67
- Positions
- 77.1%
- In the 10 largest
- +13.8%
- Value vs. prior quarter
- Vanguard Index Fds · Total Stk Mkt25.2%
- Vanguard Whitehall Fds · High Div Yld11.0%
- Vanguard Index Fds · S&P 500 ETF Shs7.8%
- Ssga Active ETF TR · ST Str BL LN ETF7.8%
- Schwab Strategic TR · US Dividend EQ7.6%
- SPDR Series Trust · ST Port High ETF6.1%
- iShares TR · Core S&P500 ETF3.6%
- Vanguard Intl Equity Index F · Allwrld EX US3.4%
- Schwab Strategic TR · US Brd Mkt ETF2.5%
- Janus Detroit Str TR · Hendrson Aaa CL2.1%
Together, the ten largest are 77.1% of reported value.
A 13F covers only exchange-traded long positions the firm holds with discretion, so this $307K is not its $27.49B in regulatory assets and does not represent any individual client's portfolio.
Fees
Asset Allocation & Management is paid through a percentage of assets under management, fixed fees (other than subscription fees) and performance-based fees.
Asset Allocation & Management’s fee rates are not included in this profile. Find its brochure on the SEC’s site.
Offices and registrations
Besides its headquarters, Asset Allocation & Management has 3 offices (3 private residences, listed without an address), with 1 listed address in 1 state.
Illinois · 1 listed address
- 10 S. Riverside Plaza, Ste 700, ChicagoHQ
Other business names
Asset Allocation & Management has reported 1 other business name to the SEC.
- Aam
Registration details
- Legal name
- Asset Allocation & Management Company, LLC
- Headquarters
- 10 S. Riverside Plaza, Ste 700, Chicago, IL 60606-3798
- Phone
- 312-263-2900
- Website
- Not reported
- SEC file
- 801-60075
- Structure
- Delaware LLC
- Fiscal year end
- December
This directory does not report disciplinary history, for any firm or individual, in either direction. The SEC publishes the complete record, including any disciplinary events, and it is the authoritative place to check one. See this firm's record on adviserinfo.sec.gov
Common questions
How many clients does Asset Allocation & Management have?
Asset Allocation & Management has 123 clients and manages $27.5 billion for them, as of March 2026. They include 120 insurance companies, 2 high-net-worth individuals and 1 corporations and other businesses.
Source: Form ADV Part 1A, Items 5.D and 5.F, filed 24 March 2026
What services does Asset Allocation & Management offer?
Asset Allocation & Management provides portfolio management for individuals and small businesses, portfolio management for institutions and selecting other managers.
Source: Form ADV Part 1A, Item 5.G, from the SEC's 2 October 2026 data file
Which custodians does Asset Allocation & Management use?
Asset Allocation & Management’s separately managed account assets are held at U.S. Bancorp (Minneapolis, MN), with $9,442,986,029 and The Bank of New York Mellon (New York, NY), with $4,342,190,970. Only custodians holding at least a tenth of those assets are named.
Source: Form ADV Part 1A, Schedule D, Section 5.K.(3), filed 24 March 2026
How many financial advisors does Asset Allocation & Management have?
Asset Allocation & Management has 0 investment adviser representatives registered with state securities authorities, out of 49 employees, and 30 perform investment advisory functions. None are registered representatives of a broker-dealer or licensed insurance agents.
Source: Form ADV Part 1A, Items 5.A and 5.B, from the SEC's 2 October 2026 data file
What does Asset Allocation & Management invest in?
At the end of its last fiscal year, Asset Allocation & Management’s separately managed accounts held 41% investment grade corporate bonds, 34% mbs passthrough, cmbs, abs, cmo, clo, 10% U.S. government and agency bonds, 7% state and local bonds, 4% cash and equivalents, 3% high-yield corporate bonds and 1% exchange-traded equities. It advises no private funds of its own.
Source: Form ADV Part 1A, Items 5.K.(1) and 7.B, from the SEC's 2 October 2026 data file
Who owns Asset Allocation & Management?
Asset Allocation & Management is owned through a chain of holding companies by John Schaefer, Marco Bravo and Minnesota Mutual Companies, Inc. Its direct owners are Schaefco, Inc. (5% to 10%), Securian Aam Holdings, LLC (50% to 75%) and Bravo, Inc. (5% to 10%).
Source: Form ADV Part 1A, Schedules A and B, filed 24 March 2026
How does Asset Allocation & Management get paid?
Asset Allocation & Management is paid through a percentage of assets under management, fixed fees and performance-based fees. Its Form ADV lists no commissions among how it is paid.
Source: Form ADV Part 1A, Item 5.E, from the SEC's 2 October 2026 data file