Niva WealthLet’s talk

Great Lakes Advisors

SEC-registered adviser since 1982Chicago, ILCRD 110757

$16.2B
AUM
1,731
Clients
See fees
Fee
37
Advisory staff

From Form ADV filed 8 September 2026 · data retrieved 15 October 2026SEC record

Great Lakes Advisors is an investment adviser headquartered in Chicago, Illinois, and registered with the SEC since 1982. Its clients include investment companies, pension and profit-sharing plans, and other clients. High-net-worth individuals account for 11% of its regulatory assets under management.

Its services include financial planning, portfolio management for individuals and small businesses, portfolio management for investment companies, portfolio management for pooled vehicles, portfolio management for institutions, and selecting other managers. Fee arrangements include a percentage of assets under management, fixed fees, performance-based fees and other arrangements. Whamco Holding Company owns 75% or more of Great Lakes Advisors, and Thomas Kiley is its CEO.

Clients

Great Lakes Advisors serves 1,731 clients, 687 of them other individuals. The average client has about $9.3 million with the firm, and high-net-worth clients hold 11% of its $16.2 billion in assets.

Regulatory assets by client type
  • Individuals687 clients7%
  • High-net-worth individuals150 clients11%
  • Investment companies5 clients27%
  • Pension and profit-sharing plans54 clients20%
  • Charitable organizations135 clients9%
  • OtherState or municipal government entities, Corporations and other businesses, Other, Pooled investment vehicles, Other investment advisers, Insurance companies27%
Show client breakdown
Individuals (other than HNW)
Clients
687
Regulatory AUM
$1,106,309,836
Share
6.8%
Avg. per client
$1.61M
High-net-worth individuals
Clients
150
Regulatory AUM
$1,742,063,704
Share
10.8%
Avg. per client
$11.6M
Investment companies
Clients
5
Regulatory AUM
$4,439,481,776
Share
27.5%
Avg. per client
$887.9M
Pooled investment vehicles
Clients
2
Regulatory AUM
$61,654,903
Share
0.4%
Avg. per client
$30.8M
Pension and profit-sharing plans
Clients
54
Regulatory AUM
$3,188,384,755
Share
19.7%
Avg. per client
$59.0M
Charitable organizations
Clients
135
Regulatory AUM
$1,389,734,045
Share
8.6%
Avg. per client
$10.3M
State or municipal government entities
Clients
6
Regulatory AUM
$1,006,292,003
Share
6.2%
Avg. per client
$167.7M
Other investment advisers
Clients
1
Regulatory AUM
$43,205,897
Share
0.3%
Avg. per client
$43.2M
Insurance companies
Clients
4
Regulatory AUM
$291,998,624
Share
1.8%
Avg. per client
$73.0M
Corporations and other businesses
Clients
57
Regulatory AUM
$834,308,542
Share
5.2%
Avg. per client
$14.6M
Other
Clients
630
Regulatory AUM
$2,054,596,286
Share
12.7%
Avg. per client
$3.26M

Total

Clients
1,731
Regulatory AUM
$16,158,030,371
Share
100%
Avg. per client
$9.33M

What it does

Great Lakes Advisors provides financial planning, portfolio management for individuals and small businesses, portfolio management for investment companies, portfolio management for pooled vehicles, portfolio management for institutions and selecting other managers. It is paid through a percentage of assets, fixed fees, performance-based fees and other arrangements.

Great Lakes Advisors provided financial planning to 101–250 clients last fiscal year and advises 3 private funds.

98.2% of assets ($15.87B across 2,925 accounts) are managed with discretion; $287.4M across 53 accounts are not. $2.95B sits in a wrap fee program the firm both sponsors and manages. 1% of clients are outside the U.S., and 16 clients received advice without assets under management last fiscal year.

What the accounts hold

Separately managed account assets by class, year end

The filed percentages total 101%. The values below are shown as filed.

Exchange-traded equity securities
68%
U.S. government/agency bonds
9%
U.S. state and local bonds
6%
Investment grade corporate bonds
6%
Securities issued by registered investment companies or business development companies
10%
Cash and cash equivalents
2%

Custodians

Great Lakes Advisors’ client accounts are held mainly at State Street Global Advisors Funds Distributors, with 23% of managed assets, and LPL Financial, with 15%. Great Lakes Advisors has custody of $52.4M for 2 clients.

Managed account assets by custodian
  • State Street Global Advisors Funds DistributorsState Street Global Advisors Funds Distributors, LLC · Boston, MA · $3.73B23%
  • LPL FinancialLPL Financial LLC · Fort Mill, SC · $2.47B15%
  • Wintrust Private Trust Company, N.A.Wintrust Private Trust Company, N.A. · Chicago, IL · $1.73B11%
  • All other custodians$8.23B51%

Ownership and leadership

Whamco Holding Company owns 75% or more of Great Lakes Advisors, and Thomas Kiley is its CEO.

Who owns the firm
Great Lakes Advisors, LLC· the adviser

  • Whamco Holding Company

    Control person · since November 2008

    Owns 75% or more of Great Lakes Advisors, LLC

Leadership

  • Thomas Kiley
    Manager & Chief Executive Officer
  • Celeste Rawlins
    Chief Financial Officer
  • Elliott Silver
    Chief Compliance Officer
  • Paul Carlisle
    Manager
  • Margaret Cosgrove
    Manager
  • Bert Getz
    Manager
  • Marla Glabe
    Manager
  • Michael Kamradt
    Manager
  • Suzet McKinney
    Manager
  • Patrick Morrissey
    Chief Investment Officer - Fixed Income
  • Russell Newman
    Managing Director - Operations
  • Jon Quigley
    Chief Investment Officer - Disciplined Equity
  • Celena Sarillo
    Manager
  • Ingrid Staffords
    Manager
  • Thomas Turner
    Chief Investment Strategist
  • Thomas Zidar
    Manager Chairman

Staff

  • 84 employees
  • 37 in advisory functions
  • 18 state-registered reps
  • 1 broker-dealer rep
  • 4 insurance agents

Reported holdings

Great Lakes Advisors’ reported 13F holdings total $13.14B across 825 positions, and the ten largest make up 22.7% of it.

$13.14B
Reported 13F value
825
Positions
22.7%
In the 10 largest
+8.9%
Value vs. prior quarter
Ten largest positions, share of reported value
  1. Amazon Com Inc.4.0%
  2. Apple Inc.3.7%
  3. Microsoft Corp.2.8%
  4. J P Morgan Chase And CO2.8%
  5. Alphabet Inc. Cap Stk CL A1.8%
  6. Merck And Co Inc.1.6%
  7. Bank America Corp.1.6%
  8. Parker Hannifin Corp.1.5%
  9. Exxon Mobil Corp.1.5%
  10. Linde PLC1.5%

Together, the ten largest are 22.7% of reported value.

The 50 largest positions and quarterly changesQuarter ended 30 June 2026 · filed 10 August 2026

A 13F covers only exchange-traded long positions the firm holds with discretion, so this $13.14B is not its $16.16B in regulatory assets and does not represent any individual client's portfolio.

Fees

Great Lakes Advisors is paid through a percentage of assets under management, fixed fees (other than subscription fees), performance-based fees and other.

Great Lakes Advisors’ fee rates are not included in this profile. Find its brochure on the SEC’s site.

Offices and registrations

Besides its headquarters, Great Lakes Advisors has 3 offices, with 4 listed addresses across 4 states.

Listed office addresses by state

Illinois · 1 listed address

  • 231 S. Lasalle Street, 4th Floor, ChicagoHQ

Other business names

Great Lakes Advisors has reported 4 other business names to the SEC.

  • Great Lakes Advisors, LLC
  • Wintrust Institutional Investment Management
  • Wintrust Private Client
  • Wintrust Wealth Management

Registration details

Legal name
Great Lakes Advisors, LLC
Headquarters
231 S. Lasalle Street, 4th Floor, Chicago, IL 60604
Phone
312-431-1700
Website
www.greatlakesadvisors.com
SEC file
801-16937
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 Great Lakes Advisors have?

Great Lakes Advisors has 1,731 clients and manages $16.2 billion for them, as of September 2026. They include 687 other individuals, 630 other clients and 150 high-net-worth individuals.

Source: Form ADV Part 1A, Items 5.D and 5.F, filed 8 September 2026

What services does Great Lakes Advisors offer?

Great Lakes Advisors provides financial planning, portfolio management for individuals and small businesses, portfolio management for investment companies, portfolio management for pooled vehicles, 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 Great Lakes Advisors use?

Great Lakes Advisors’ separately managed account assets are held at State Street Global Advisors Funds Distributors, LLC (Boston, MA), with $3,732,522,272, LPL Financial LLC (Fort Mill, SC), with $2,470,485,016 and Wintrust Private Trust Company, N.A. (Chicago, IL), with $1,728,190,125. Only custodians holding at least a tenth of those assets are named.

Source: Form ADV Part 1A, Schedule D, Section 5.K.(3), filed 8 September 2026

How many financial advisors does Great Lakes Advisors have?

Great Lakes Advisors has 18 investment adviser representatives registered with state securities authorities, out of 84 employees, and 37 perform investment advisory functions. 1 are registered representatives of a broker-dealer and 4 are 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 Great Lakes Advisors invest in?

At the end of its last fiscal year, Great Lakes Advisors’ separately managed accounts held 68% exchange-traded equities, 10% registered funds (mutual funds, ETFs, BDCs), 9% U.S. government and agency bonds, 6% state and local bonds, 6% investment grade corporate bonds and 2% cash and equivalents. It advises 3 private funds.

Source: Form ADV Part 1A, Items 5.K.(1) and 7.B, from the SEC's 2 October 2026 data file

Who owns Great Lakes Advisors?

Great Lakes Advisors is owned through a holding company by Wintrust Financial Corporation. Its direct owner is Whamco Holding Company (75% or more).

Source: Form ADV Part 1A, Schedules A and B, filed 8 September 2026

How does Great Lakes Advisors get paid?

Great Lakes Advisors is paid through a percentage of assets under management, fixed fees, performance-based fees and other arrangements. 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

Sources

  1. Form ADV Part 1A, amendment filed 8 September 2026. Items 1, 5, 9, 11 and Schedules A, B and D.
  2. IAPD firm record, CRD 110757.
  3. Form 13F-HR, filed 10 August 2026 for the quarter ended 30 June 2026.

Retrieved 15 October 2026. All are published by the SEC and may have been amended since.

Download source data (JSON)How this directory is compiledReport a correction

This profile is compiled from public regulatory filings and is provided for informational purposes only. Niva Wealth is not affiliated with Great Lakes Advisors, LLC and makes no representation about the quality of its services. Figures reflect the filing dates shown and may have changed. Ownership percentages are the bands reported to the SEC, not exact figures.