Estate Counselors provides portfolio management for individuals and small businesses and portfolio management for investment companies. Financial planning was provided to 1–10 clients last fiscal year.
Estate Counselors reports 56 clients. They include 29 high-net-worth individuals, 17 corporations and other businesses, and 8 individual clients. Of its assets, 100.0% ($1.35B across 319 accounts) are managed with discretion.
| Client type | Clients | Assets |
|---|---|---|
| Individuals (other than HNW) | 14% | <1% |
| High-net-worth individuals | 52% | 36% |
| Investment companies | 4% | 54% |
| Corporations and other businesses | 30% | 9% |
Client breakdown and activity details
| Client type | Clients | Regulatory AUM | AUM share | Avg. per client |
|---|---|---|---|---|
| Individuals (other than HNW) | 8 | $4.33M | 0.3% | $541K |
| High-net-worth individuals | 29 | $484M | 36.0% | $16.7M |
| Investment companies | 2 | $730M | 54.3% | $365M |
| Corporations and other businesses | 17 | $127M | 9.4% | $7.46M |
| Total | 56 | $1.35B | 100% | $24M |
- Clients
- 8
- Regulatory AUM
- $4.33M
- AUM share
- 0.3%
- Avg. per client
- $541K
- Clients
- 29
- Regulatory AUM
- $484M
- AUM share
- 36.0%
- Avg. per client
- $16.7M
- Clients
- 2
- Regulatory AUM
- $730M
- AUM share
- 54.3%
- Avg. per client
- $365M
- Clients
- 17
- Regulatory AUM
- $127M
- AUM share
- 9.4%
- Avg. per client
- $7.46M
Total
- Clients
- 56
- Regulatory AUM
- $1.35B
- AUM share
- 100%
- Avg. per client
- $24M
- Clients outside the U.S.
- 0%
- Clients advised without assets under management last fiscal year
- 0
- Private funds advised
- 0
- Financial planning clients last fiscal year
- 1–10
Estate Counselors is paid through a percentage of assets under management; its fees and minimums are set out in its brochures on the SEC website.
Michael R. Willms Family Trust owns 25% to 50% of Estate Counselors. The leadership team of Estate Counselors includes President Andrew Willms. It has 7 employees, 4 of them in advisory roles.
Leadership
- Andrew WillmsPresident and CEO
- Satyaki MitraCCO
Investment adviser representatives
5 representatives listed in the SEC register as of 9 October 2026.
- Nathan James Kitowski
- Satyaki Mitra
- Shrey Patel
- Andrew John Willms
- Jacob A Willms
Staff
- 7 employees
- 4 in advisory functions
- 4 state-registered reps
- Owns 25% to 50% of Estate Counselors, LLC
Michael R. Willms Family Trust
Control person · since January 2022
- Owns 25% to 50% of Estate Counselors, LLC
Emily M. Willms Family Trust
Control person · since January 2022
Jacob Willms
Trustee · Control person · since December 2021
- Owns 25% to 50% of Estate Counselors, LLC
Jacob A. Willms Family Trust
Control person · since January 2022
- Owns 10% to 25% of Estate Counselors, LLC
Andrew J. and Linda S. Willms Trust
Control person · since January 2017
Andrew Willms
Trustee · Control person · since January 2017
Linda Willms
Trustee · Control person · since January 2017
Estate Counselors’ regulatory assets grew from $932M (March 2021) to $1.35B (September 2026); clients rose from 41 to 56 and employees from 5 to 7.
Figures from each annual filing
| Filed | Regulatory AUM | Clients | Employees | Offices |
|---|---|---|---|---|
| September 2026 | $1.35B | 56 | 7 | 2 |
| April 2025 | $1.14B | 58 | 7 | 2 |
| July 2024 | $1.08B | 58 | 7 | 2 |
| March 2023 | $936M | 50 | 7 | 2 |
| March 2022 | $1.05B | 47 | 6 | 2 |
| March 2021 | $932M | 41 | 5 | 2 |
Besides its headquarters, Estate Counselors has 1 office (1 private residence, listed without an address), with 1 listed address in Wisconsin.
Wisconsin · 1 listed address
- 414 N. Main Street, ThiensvilleHQ
Other business names
Estate Counselors has reported 1 other business name to the SEC.
- The Milwaukee Company
Contact and registration details
- Legal name
- Estate Counselors, LLC
- Headquarters
- 414 N. Main Street, Thiensville, WI 53092
- Website
- themilwaukeecompany.com
- Phone
- 262-238-6980
- @the-milwaukee-company
- SEC file
- 801-62584
- Structure
- Wisconsin LLC
- Fiscal year end
- December
Estate Counselors uses Fidelity ($1.26B) as custodian for its separately managed accounts. Estate Counselors does not have custody of client assets.
- FidelityFidelity Brokerage Services LLC · Smithfield, RI · $1.26B100%
At year end, Estate Counselors’ separately managed accounts were mostly in funds (77%). Its reported 13F holdings for the quarter ended 30 June 2026 total $1.16B across 92 positions; the largest are ETF Ser Solutions (32.8%), ETF Ser Solutions (30.9%) and Vanguard Star Fds (2.2%).
What the accounts hold
- Stocks8%
- Funds77%
- Bonds9%
- U.S. government and agency bonds5%
- State and local bonds4%
- Cash6%
Reported 13F holdings
- $1.16B
- Reported 13F value
- 92
- Positions
- 78.1%
- In the 10 largest
- +3.6%
- Value vs. prior quarter
- ETF Ser Solutions · Brin FD Grow ETF32.8%
- ETF Ser Solutions · Brin FD Cons ETF30.9%
- Vanguard Star Fds · VG TL Intl Stk F2.2%
- SPDR Series Trust · ST Str Conv ETF1.9%
- iShares TR · JPMORGAN Usd Emg1.9%
- Invesco Exch Traded FD TR II · Var Rate Pfd1.8%
- Invesco Exch Traded FD TR II · SR LN ETF1.8%
- SPDR Series Trust · ST Str Blo 1 ETF1.8%
- iShares TR · 0-5 YR Tips ETF1.8%
- Select Sector SPDR TR · ST Str Mater ETF1.2%
Together, the ten largest are 78.1% of reported value.
How many clients does Estate Counselors have?
Estate Counselors has 56 clients and manages $1.35 billion for them, as of September 2026. They include 29 high-net-worth individuals, 17 corporations and other businesses, and 8 individual clients.
Source: Form ADV Part 1A, Items 5.D and 5.F, filed 18 September 2026
What services does Estate Counselors offer?
Estate Counselors provides portfolio management for individuals and small businesses and portfolio management for investment companies.
Source: Form ADV Part 1A, Item 5.G, from the SEC's 2 October 2026 data file
Which custodians does Estate Counselors use?
Estate Counselors’ separately managed account assets are held at Fidelity Brokerage Services LLC (Smithfield, RI), with $1.26B. Only custodians holding at least a tenth of those assets are named.
Source: Form ADV Part 1A, Schedule D, Section 5.K.(3), filed 18 September 2026
How many financial advisors does Estate Counselors have?
Estate Counselors has 4 investment adviser representatives registered with state securities authorities, out of 7 employees, and 4 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 Estate Counselors invest in?
At the end of its last fiscal year, Estate Counselors’ separately managed accounts held 77% registered funds (mutual funds, ETFs, BDCs), 8% exchange-traded equities, 6% cash and equivalents, 5% U.S. government and agency bonds and 4% state and local bonds.
Source: Form ADV Part 1A, Items 5.K.(1) and 7.B, from the SEC's 2 October 2026 data file
Who owns Estate Counselors?
Estate Counselors’ direct owners are Andrew J. and Linda S. Willms Trust, Michael R. Willms Family Trust, Emily M. Willms Family Trust, and Jacob A. Willms Family Trust, each holding 50% or less.
Source: Form ADV Part 1A, Schedules A and B, filed 18 September 2026
How does Estate Counselors get paid?
Estate Counselors is paid through a percentage of assets under management. Its Form ADV lists no commissions or performance-based fees among how it is paid.
Source: Form ADV Part 1A, Item 5.E, from the SEC's 2 October 2026 data file
How do I contact Estate Counselors?
Estate Counselors’ main office is at 414 N. Main Street, Thiensville, WI 53092. Its phone number is 262-238-6980. Its website is themilwaukeecompany.com.