Milliman Financial Risk Management LLC
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Overview
Milliman Financial Risk Management LLC is an advisory firm headquartered in Chicago, Illinois. It manages $42.9 billion in assets over 248 accounts, placing it among the largest financial advisory firms in the United States by assets under management (AUM). The company has a large group, including 196 financial advisors. Milliman Financial Risk Management LLC is not a registered broker-dealer, signifying that the advisor cannot buy and sell securities for its clients' and own accounts and instead is required to go through a broker-dealer firm to do so. Securities are exchangable financial assets like bonds, options and stocks.
Milliman Financial Risk Management LLC oversees more than half of its client assets in a discretionary manner. Discretionary management is a structure in which transaction judgments for the client's account are made by a portfolio manager without needing client consent. The company also has two non-discretionary accounts totaling $17.8 billion in assets. The company's typical account size is $172.9 million. An average advisor at Milliman Financial Risk Management LLC oversees around one client account, placing it among the most personalized firms in the country.
The firm's main office is at 71 S. Wacker Dr., Chicago, Illinois 60606. The company is permitted to serve customers in the state of Illinois.
Assets Under Management
Number of Advisors
Disclosures
Office Location
Milliman Financial Risk Management LLC by the Numbers
$42.9 billion
205
248
$172.9 million
Fee Structure
Fees charged by financial advisors largely depend on which services the firm provides the client. However, fee types charged by the firm likely are comprised of any blend of the following fee types: asset-based, hourly or fixed. Wrap fee programs, or the practice of bundling services for a single fee, are not provided by the company.
Available
-
Offered by 69% of firms
Percentage of Assets
-
Offered by 21% of firms
Hourly
-
Offered by 32% of firms
Fixed
Unavailable
Types of Clients
Milliman Financial Risk Management LLC caters to investment companies, pooled investment vehicles and insurance companies. Out of its 248 accounts, Milliman Financial Risk Management LLC's biggest client group by number of accounts is pooled investment vehicles. About 16% of the company's clients are represented by non-U.S. persons.
- High-Net-Worth Individuals* - 0%
- Other Individuals - 0%
- Corporations - 100%
- Charitable Organizations - 0%
* The U.S. Securities and Exchange Commission (SEC) defines a high-net-worth individual as someone who has at least $750,000 under management.
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Disclosures
Milliman Financial Risk Management LLC does not have any disclosures.
Please visit its Form ADV for more details.
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