Milliman FRM—a SEC-registered investment advisor—is a global leader in managing financial risk.

As a subsidiary of Milliman, Inc., Milliman FRM is built on decades of actuarial work, helping institutional clients assess and manage their risk. Founded in 1998, Milliman FRM has a well-established track record advising on and managing client assets for more than two decades, navigating the past three market crises, including the 2020 coronavirus pandemic.

Through its team of trading, risk management, portfolio management, quantitative finance, technology, and actuarial professionals, Milliman FRM:

• Provides investment advisory, hedging, and consulting services on approximately over $229.2 billion in global assets (as of September 30, 2025)
• Monitors clients’ risk exposures to global capital markets around the clock, from strategically located trading desks in Chicago, Sydney, and London.
• Offers customizable solutions across a variety of strategies, including: Milliman Managed Risk Strategy, Milliman Defined Outcome Strategies, and Milliman Managed Risk Parity.