No commissions, no ads, no advice. This Cresset profile draws only on public records, each linked so you can confirm it yourself.

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1. Check the SEC adviser record. Open the SEC's IAPD record for Cresset (CRD #288566) and confirm its registration.

2. Read the filings. Review the Form ADV / Form CRS and any disclosure section linked from the IAPD page.

3. Confirm the entity. Match CRD #288566 / Cresset Asset Management so you're reading the right firm.

The short answer: is Cresset a fiduciary?

Yes. Cresset is a fiduciary when it advises you. It's an SEC-registered investment adviser (CRD #288566), and its Form ADV doesn't report a broker-dealer registration. According to its latest Form ADV (filed August 13, 2026), it reported $78.9 billion in regulatory assets under management for 4,911 clients, who between them hold 32,894 accounts (Item 5.F). Its Form ADV (Item 5.E) reports no commissions for advisory services, though it also reports insurance or other sales activity by the firm or a related company, so it's worth asking how each part of the relationship is paid. Its Form ADV (Item 5.E) lists how it is paid: a percentage of assets under management, fixed fees, and performance-based fees. None of this asks you to take anyone's word for it: the public filings have it, and they're quick to read.

Its Form ADV doesn't report a broker-dealer registration or a related broker-dealer, so the adviser's fiduciary standard is the one that applies to its advice.

What "fiduciary" means: a fiduciary is legally bound to place a client's interests above its own. (More on fiduciary duty)

Cresset at a glance

✅ Verified from public filings, last checked October 5, 2026. Cresset (SEC CRD #288566) is a fiduciary for the whole advisory relationship, on an advisory-fee basis, with $78.9 billion in regulatory assets under management. Every figure below links to its primary source.

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Cresset fees: what you'll pay

Here's what Cresset charges, and where those fees come from. Cresset charges advisory fees: its Form ADV (Item 5.E) reports no commissions for its advisory services. Its filing also reports insurance or other sales activity by the firm or a related company, business that can be paid by commissions. Ask how each part of the relationship is paid. The details are in its Form ADV Part 2A.

Advisory fees are what clients pay the adviser directly. Commissions earned through a related broker-dealer or insurance business are a separate source of pay.

Cresset's mix of three pay methods is worth pinning down before you sign. Performance-based fees generally apply only to clients who meet SEC "qualified client" thresholds, so ask whether any part of your fee would depend on returns. For how fee structures compare, see Fee-only financial advisor: costs and how to find one.

Who owns Cresset, and what conflicts does it disclose?

The Cresset ownership picture is on file with the SEC. Cresset is owned by CCM Midco, LLC, as listed in Schedule A of its Form ADV (2026). (Form ADV Schedule A)

Its Form ADV Part 2A describes the firm's conflicts of interest, including how it and its advisers are paid.

Cresset SEC record: disclosures

To check Cresset's regulatory record, start with the firm's own filings. On its Form ADV, Cresset answers No to the firm-level disciplinary-history questions. You can confirm that on the public record. Individual advisers can have their own records, so look them up on IAPD and FINRA BrokerCheck too. If there are Cresset disclosures to read, the public record is where they are, and where they should be read.

According to IAPD, the firm has been registered with the SEC since July 10, 2017, makes notice filings in 52 jurisdictions, and reports 496 employees, 187 of them in investment advisory roles. That's under a decade of SEC registration for a firm now reporting $78.9 billion. The firm has grown quickly since its 2017 SEC registration, so prospective clients can ask how adviser caseloads have changed as it scaled.

Reading Cresset reviews against the public record

Star ratings and client comments describe what working with a firm felt like. They usually don't show what the firm reports to regulators. Before you weigh Cresset reviews, check three things this profile takes from the public record. First, how the firm is paid: it reports advisory fees and no commissions, but its filing reports insurance or other sales activity by the firm or a related company. Second, who owns it and what conflicts it discloses. Third, whether its Form ADV reports any disciplinary history. Read reviews alongside the record, not instead of it.

How to verify Cresset yourself

You can verify everything above yourself in three steps:

1. SEC adviser record (IAPD): https://adviserinfo.sec.gov/firm/summary/288566.

2. Form ADV / CRS: linked from the IAPD page.

3. Confirm the entity: match Cresset (CRD #288566, legal name Cresset Asset Management) so you're reading the right firm.

What Cresset does and who it serves

On its Form ADV, Cresset reports providing financial planning, portfolio management for individuals and small businesses, portfolio management (pooled vehicles), portfolio management for businesses and institutions, pension consulting, selection of other advisers, and educational seminars.

It reports providing financial planning to 11 to 25 clients in its last fiscal year (Form ADV Item 5.H), a count the form keeps separate from the client totals below.

Its Form ADV (Item 5.D) breaks its 4,911 clients down by type:

Read the table by assets, not headcount, and the picture sharpens. High-net-worth individuals hold $69.77 billion, about 88% of the $78.9 billion total, or roughly $19 million per high-net-worth client. The 1,079 other individuals hold $156.4 million between them. Clients with smaller accounts can ask how the service and fee schedule apply to their account.

Those 4,911 clients hold 32,894 accounts (Item 5.F), nearly seven per client on average. About 97% of the accounts, 31,788 of them, are discretionary, meaning the firm can trade without seeking your approval first. The other 1,106 are non-discretionary. Its main office is in Chicago, IL.

It reports that it or a related person has custody of certain client assets, which brings extra safeguards such as surprise examinations. The specifics are in its Form ADV.

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You've vetted the firm. Now make sure the advice runs on the full picture.

Confirming Cresset is registered takes a few minutes. Any advisor can only act on what they can see, and what they see is partial: scattered accounts, an old rollover, costs that never surface on a statement. With Cresset clients averaging nearly seven accounts each, that partial view is easy to end up with. This is where Truthifi comes in.

How Truthifi can help

Truthifi links your accounts read-only and shows what you own, how it's allocated, how it's performing and where the risk sits, including single-stock exposure, returns next to a benchmark, a fee breakdown of the fees on each account, by type, and your Truthifi Score. You can share the accounts you choose with your advisor at Cresset. Wondering whether the fee itself is the right yardstick? Read Are you paying too much? Why that might be the wrong question.

Prefer your own AI? According to Truthifi's plan comparison, a paid Truthifi plan lets you connect an AI assistant that supports MCP sign-in, such as Claude. Truthifi Connect is the lighter membership for people who only want to use their own assistant. Questions about your fees need Monitoring or Monitoring Plus+; compare those plans to see which fits.

Ask AI about your Cresset accounts

Once your accounts are connected read-only, you can ask in plain English:

• "What do I own across my Cresset accounts and everything else, and how is it allocated?"

• "What am I paying in total fees across these accounts?"

Try it with Truthifi: start for free at app.truthifi.com and run a Monitoring Checkup (limits apply).

No commissions, no ads, no advice: Truthifi is not an investment adviser and doesn't give investment, tax or legal advice. Its access to your bank and brokerage accounts, Cresset-held ones included, is read-only. Start free (limits apply). Monitoring Checkup is free. Link up to 10 connections, per Truthifi's published plan limits. Plans and limits are on the pricing page → truthifi.com.

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FAQ

Is Cresset a fiduciary? Yes. It's a registered investment adviser (CRD #288566), so it owes a fiduciary duty when it advises you. Its Form ADV doesn't report a broker-dealer registration or a related broker-dealer.

Is Cresset fee-only? Not necessarily. Its Form ADV (Item 5.E) reports no commissions for advisory services, but the filing also reports insurance or other sales activity by the firm or a related company, which can be paid differently. Ask how everyone you deal with is paid. The details are in its Form ADV Part 2A.

Who owns Cresset? Cresset is owned by CCM Midco, LLC, as listed in Schedule A of its Form ADV.

Does Cresset have complaints or disclosures? Its Form ADV answers No to the firm-level disciplinary-history questions. Individual advisers can have their own records on IAPD and BrokerCheck.

Is Cresset legit? Cresset is registered with the SEC (CRD #288566) and its filings are public on the SEC's IAPD site, which confirms it is a real, regulated firm. Registration doesn't tell you whether it's the right fit or what you'll pay, so read the fee and conflict sections of its Form ADV.

Can AI help me check whether I'm getting good value? Yes. Start free (limits apply): Monitoring Checkup is free and lets you link up to 10 connections. You can also connect an AI assistant you already use (such as Claude). On Monitoring or Monitoring Plus+ you can ask it, in plain English, about the fees on each of your accounts. Truthifi is not an investment adviser and doesn't give investment, tax or legal advice.

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About this profile

Truthifi built this profile from the firm's own SEC filings (Form ADV and, where filed, Form CRS). Every page is reviewed by the Truthifi Team before publishing. The Truthifi advisor fact packs are an ongoing series checking U.S. investment advisers against their public filings, one firm at a time.

Read next from the Truthifi blog

• What is a fiduciary?

• Fee-only financial advisor: costs and how to find one

• Are you paying too much? Why that might be the wrong question

• How to ask AI about your real investment accounts

• Robo-advisor vs. human financial advisor: which is better?

• All advisor fact packs on Truthifi

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A note on sources. The facts on this page come from publicly available documents, Cresset's SEC filings, each linked inline so you can verify it yourself (SEC data current as of October 5, 2026). This is general information, not financial or legal advice, and Truthifi is not affiliated with Cresset. Regulatory records change, so always confirm against the official sources linked above. Spot something that should be corrected? Email us at support@truthifi.com.

One thing to watch at the next filing: Cresset's annual Form ADV update will show whether its tilt toward high-net-worth clients, about 88% of assets today, holds steady. A shift in that share is often the first public sign that a firm's ideal client is changing.