SourcingSourcing

40/86 ADVISORS, INC.

C25
CRD 107740·SEC 801-17857·CARMEL, IN
AUM
$30.50B
$1B+
Est. Revenue
$305.0M
@ 1% on AUM
Est. EBITDA
$91.5M
@ 30% margin
Est. Deal Value
$731.9M
@ 8× EBITDA

Identity

Registrations & legal identity

Legal name
40/86 ADVISORS, INC.
CRD
107740
SEC file #
801-17857
EIN
—
DBA names
—

Economics

AUM
$30.50B
AUM band
$1B+
AUM trajectory
'20'26
$23.56B → $30.50B▲ +29%
Client mix
Insurance Companies7
Pooled Investment Vehicles3
Corporations3

Operations

Employees (total)
84
Advisory staff (per ADV)
84
Advisory staff (5-yr trend)
'20'26
72 advisors → 84 advisors▲ +17%
Primary office
CARMEL IN
Branches
—

Custodian & Brokerage

Primary custodian
U.S. Banklow confidence
Services offered
Portfolio mgmt — pooled vehiclesPortfolio mgmt — businesses
Fee basis
% of AUMPerformance-based fees

Filings

Latest ADV filing
04/22/2026
ADV-W filed at
—
Website
4086.com

Compliance

Disclosures (firm)
0
Trademark
—
Additional signalsExpand ▾

Ownership & succession ★

Who controls the firm + pre-computed succession flags

Top Owner Name
CNO FINANCIAL GROUP, INC.
Top Owner Pct
87.5
Top Owner Entity Kind
DE
Owner Count
7
Control Persons
CNO FINANCIAL GROUP, INC.
BURKE, RICHARD, WILLIAM
Solo Advisor Indicator
No
Succession Risk Solo Owner
No
Is Parent Owned Subsidiary
Yes

Availability / M&A ★

Already-acquired = skip; deal comps

Adv W Filed
No

Web presence ★

Stale website = winding down

Web Signal Quality
ok
Rdap Domain
4086.COM
Rdap Domain Creation Date
2003-07-23T12:33:06Z
Rdap Firm Age Years
23
Rdap Firm Age Band
20+y
Rdap Registrar
CSC Corporate Domains, Inc.

Retirement-plan book (Form 5500) ★

401(k)/plan business — cross-sell value

Retirement Plan Book
No

SEC EDGAR

Edgar Cik
0001224608
Edgar Registered
Yes
Edgar Filing Count
1,000
Edgar First Filing Date
2015-10-29
Edgar Last Filing Date
2026-05-13
Edgar 13f Count
37
Edgar 13f Latest AUM Estimate
Filing Date2026-05-13
Accession0001224608-26-000049
Edgar Xbrl Assets Latest
Value Usd38,790,600,000
Fiscal Year End2025-12-31
Edgar Xbrl Revenue Latest
Value Usd4,487,400,000
Fiscal Year End2025-12-31
ConceptRevenues
Edgar Sic Description
Accident & Health Insurance
Edgar Former Names
CONSECO INC

Compliance & brand

Firm Registration Status
active

All other collected signals (18)

Everything else we've pulled for this record, not yet curated into a section.

Adv W Recently Filed
No
Bc Firm Active Bc Count
0
Bc Firm Active IA Count
0
Bc Firm IAR Count
0
Custodian Candidates
Full
U.s. Bank5
E*trade4
Northern Trust2
Wells Fargo2
Edgar Addresses
Mailing
11299 ILLINOIS STREET, SUITE 200CARMEL, IN 46032
Business
11299 ILLINOIS STREET, SUITE 200CARMEL, IN 46032
Edgar EIN
753108137
Edgar Recent Filings
8-K2026-05-13 · 0001224608-26-000057
42026-05-13 · 0001224608-26-000055
Edgar Sic
6321
Fee Schedule
Bracket Vi41
Bracket Xii37
Bracket Iv10
Bracket Ii3
Bracket Iii3
Firm Has Custody
No
Mailing Office Differs
No
Rdap Domain Expiration Date
2026-07-23T12:33:06Z
Rdap Domain Last Changed
2025-07-20T05:19:31Z
Rdap Nameservers
Ns1.cfdnssvc.comNs2.cfdnssvc.com
Rdap Secure Dns Enabled
No
Rdap Status
Client Transfer Prohibited
Trust Company Affiliate
No

People (6)

6
BURKE, RICHARD, WILLIAM
Executive Officer · 2.5%
4347227
DE HAAI, ZANDRA, MARIA
Executive Officer · 2.5%
6375703
HORSFALL, JESSE, EDWARD
Executive Officer · 2.5%
2275166
JOHNSON, ERIC, RONALD
Executive Officer · 2.5%
4346768
McDonough, Paul, H
Executive Officer · 2.5%
7089411
NEUHOFF, TONY, ALAN
Executive Officer · 2.5%
7880761