MILLIMAN FINANCIAL RISK MANAGEMENT LLC
Compensation Model
Compensation type disclosed on SEC Form ADV Item 5C. Filed 46112. Specific fee percentages are available in this firm's Form ADV Part 2A brochure at adviserinfo.sec.gov.
Conflict of Interest Analysis
Broker-Dealer Affiliated: No
No broker-dealer affiliation. Lower risk of commission-driven advice.
Insurance Licensed: No
Not insurance licensed. Cannot sell you annuity or insurance products directly.
Custody of Client Assets: No
Assets held at an independent custodian (e.g., Schwab, Fidelity, TD Ameritrade). This is the standard, lower-risk arrangement.
Proprietary Products: No
Uses only third-party investment products. No proprietary product conflicts.
Regulatory & Disciplinary History
Clean Record
No disciplinary events, regulatory actions, or customer complaints on file with the SEC or FINRA. This firm has maintained a spotless regulatory record for 14 years.
Firm Details
| Legal Name | MILLIMAN FINANCIAL RISK MANAGEMENT LLC |
| CRD Number | #159377 |
| SEC Registered | Yes |
| Registration Date | 2012-01-24 |
| States Registered | IL |
| Assets Under Management | $40.3B |
| Number of Clients | 135 |
| Employees | 177 |
| Compensation Type | fee-only |
| Last ADV Filing | 46112 |
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Frequently Asked Questions
Is MILLIMAN FINANCIAL RISK MANAGEMENT LLC a fiduciary?
Yes. MILLIMAN FINANCIAL RISK MANAGEMENT LLC is a registered investment adviser (RIA) with the SEC, which means they are legally required to act as a fiduciary — putting your interests ahead of their own.
How does MILLIMAN FINANCIAL RISK MANAGEMENT LLC charge clients?
MILLIMAN FINANCIAL RISK MANAGEMENT LLC uses a fee-only compensation model. Full fee details are in their Form ADV Part 2A brochure at adviserinfo.sec.gov.
Does MILLIMAN FINANCIAL RISK MANAGEMENT LLC have any complaints?
No. MILLIMAN FINANCIAL RISK MANAGEMENT LLC has zero complaints or disciplinary actions on file with the SEC or FINRA across 14 years of operation.
How does MILLIMAN FINANCIAL RISK MANAGEMENT LLC compare to other advisors in CHICAGO?
MILLIMAN FINANCIAL RISK MANAGEMENT LLC has a Red Flag Score of 100/100. There are 367 registered advisory firms in CHICAGO. Use our city page to compare firms side by side.
Where does this data come from?
All information is sourced from SEC Form ADV public filings (mandatory regulatory disclosures) and FINRA BrokerCheck records. Last updated: 2026-06-24. We do not accept payment from financial advisors.
Data source: SEC Form ADV (Parts 1 and 2A) filed with the Investment Adviser Registration Depository (IARD). Filing date: 46112. Last data refresh: 2026-06-24. AdvisorRanked does not verify the accuracy of SEC filings. This is not financial advice.