{ "crd_number": 116515, "slug": "bates-financial-advisors-inc-rockford-il-116515", "primary_business_name": "BATES FINANCIAL ADVISORS, INC.", "legal_name": "BATES FINANCIAL ADVISORS, INC.", "dbas": [], "city": "Rockford", "state": "IL", "country": "United States", "cbsa_code": "40420", "metro": { "cbsa_code": "40420", "common_name": "Rockford", "msa_name": "Rockford, IL", "path": "/advisors/il/rockford" }, "registration_type": "sec", "registration_status": "Approved", "registration_date": "2011-02-28", "years_registered": 15, "period": "2026-10-01", "filing_date": "2026-06-25", "carried_forward": false, "raum_total": 439211752.0, "raum_discretionary": 438219609.0, "raum_non_discretionary": 992143.0, "raum_band": "100m_500m", "raum_band_label": "$100 million to $500 million", "total_employees": 5, "advisory_employees": 5, "client_count_bucket": "fewer_than_5_in_some_types", "clients_by_type": { "charitable": { "raum": 1207849.0, "count": 2, "fewer_than_5": true }, "individuals": { "raum": 126160775.0, "count": 267 }, "high_net_worth_individuals": { "raum": 311843128.0, "count": 130 } }, "compensation_types": [ "fixed", "percentage_of_aum" ], "advisory_activities": [ "financial_planning", "portfolio_management_individuals" ], "wrap_fee_participant": false, "disclosure_yes_count": 0, "states_registered": [ "AZ", "CA", "CO", "CT", "FL", "IA", "IL", "IN", "MO", "TN", "TX", "WI" ], "websites": [ "https://batesfinancialadvisors.com" ], "iapd_url": "https://adviserinfo.sec.gov/firm/summary/116515", "city_as_filed": "ROCKFORD", "url": "https://advisorcensus.com/firm/bates-financial-advisors-inc-rockford-il-116515", "display_name": "Bates Financial Advisors, Inc.", "summary": "Bates Financial Advisors, Inc. is an SEC-registered investment advisory firm in Rockford, IL, registered since 2011, reporting $100 million to $500 million in regulatory assets under management in its Form ADV filing dated June 25, 2026.", "citation": "AdvisorCensus. Bates Financial Advisors, Inc. (CRD 116515): Form ADV filing data as of October 2026.", "registration_type_label": "SEC-registered investment adviser", "compensation_labels": [ "A percentage of assets under your management", "Fixed fees (other than subscription fees)" ], "advisory_activity_labels": [ "Financial planning services", "Portfolio management for individuals and/or small businesses" ], "quick_answers": [ { "q": "How is Bates Financial Advisors, Inc. compensated?", "a": "On its Form ADV (Item 5.E, October 2026), Bates Financial Advisors, Inc. reports these compensation arrangements: a percentage of assets under its management; fixed fees (other than subscription fees). The amounts are in Item 5 of its Form ADV Part 2A brochure." }, { "q": "Where is Bates Financial Advisors, Inc. located?", "a": "Bates Financial Advisors, Inc.'s principal office is in Rockford, IL, according to its Form ADV." }, { "q": "Is Bates Financial Advisors, Inc. registered with the SEC or a state?", "a": "Bates Financial Advisors, Inc. is an SEC-registered investment advisory firm, registered since 2011. Status as filed: Approved. CRD 116515." }, { "q": "How much does Bates Financial Advisors, Inc. manage?", "a": "Bates Financial Advisors, Inc. reports $439,211,752 in regulatory assets under management in its Form ADV filing dated June 25, 2026 (100% discretionary)." }, { "q": "How have Bates Financial Advisors, Inc.'s assets and staff changed since 2021?", "a": "In the Form ADV data for Bates Financial Advisors, Inc.: Regulatory assets under management: $529,249,409 in the October 2021 data and $439,211,752 in the October 2026 data, down 17%. Total employees: 10 in October 2021 and 5 in October 2026. Assets under management move with markets as well as with clients coming and going." }, { "q": "What types of clients does Bates Financial Advisors, Inc. serve?", "a": "By number of clients on Form ADV Item 5.D: individuals (other than high net worth individuals) (267); high net worth individuals (130); charitable organizations (2)." }, { "q": "Which custodians does Bates Financial Advisors, Inc. use?", "a": "Bates Financial Advisors, Inc.'s most recent Form ADV filing (Schedule D, Section 5.K(3)) lists Altruist Financial LLC and Fidelity Brokerage Services LLC as custodians holding 10% or more of its separately managed account assets." }, { "q": "Does Bates Financial Advisors, Inc. report any disciplinary disclosures?", "a": "Reports no disclosure items on Form ADV Item 11. The detail of any item is on the firm's SEC record: https://adviserinfo.sec.gov/firm/summary/116515" }, { "q": "What changed in Bates Financial Advisors, Inc.'s recent Form ADV filings?", "a": "In the July 2026 filing data: Registered or notice-filed in CT." } ], "filing_history": [ { "period": "2021-10-01", "regulatory_assets_under_management": 529249409.0, "total_employees": 10, "filing_date": "2021-03-22" }, { "period": "2022-10-01", "regulatory_assets_under_management": 550506678.0, "total_employees": 10, "filing_date": "2022-03-10" }, { "period": "2023-10-01", "regulatory_assets_under_management": 451525647.0, "total_employees": 12, "filing_date": "2023-06-28" }, { "period": "2024-10-01", "regulatory_assets_under_management": 430401703.0, "total_employees": 9, "filing_date": "2024-05-13" }, { "period": "2025-10-01", "regulatory_assets_under_management": 395625847.0, "total_employees": 7, "filing_date": "2025-03-31" }, { "period": "2026-10-01", "regulatory_assets_under_management": 439211752.0, "total_employees": 5, "filing_date": "2026-06-25" } ], "recent_changes": [ { "period": "2026-07-01", "period_label": "July 2026", "notes": [ "Registered or notice-filed in CT." ] }, { "period": "2026-05-01", "period_label": "May 2026", "notes": [ "Employees performing advisory functions went from 7 to 5.", "Regulatory assets under management went from $395,625,847 to $439,211,752 (+11%)." ] }, { "period": "2026-01-01", "period_label": "January 2026", "notes": [ "No longer registered or notice-filed in MI." ] }, { "period": "2025-11-01", "period_label": "November 2025", "notes": [ "Updated its list of owners and control persons (Schedule A)." ] } ], "fees_from_brochure": null, "custodians": [ { "name": "Altruist Financial LLC", "name_as_filed": "ALTRUIST FINANCIAL LLC", "affiliated": false }, { "name": "Fidelity Brokerage Services LLC", "name_as_filed": "FIDELITY BROKERAGE SERVICES LLC", "affiliated": false } ], "custodians_note": "Custodians holding 10% or more of the firm's separately managed account assets, as filed on Form ADV (Schedule D, Section 5.K(3)). A custodian holds client assets; it does not endorse or supervise the firm. AdvisorCensus has no relationship with any custodian.", "markdown_url": "https://advisorcensus.com/firm/bates-financial-advisors-inc-rockford-il-116515.md", "clients": [ { "type": "individuals", "label": "Individuals (other than high net worth individuals)", "count": 267, "fewer_than_5": false, "raum": 126160775.0 }, { "type": "high_net_worth_individuals", "label": "High net worth individuals", "count": 130, "fewer_than_5": false, "raum": 311843128.0 }, { "type": "charitable", "label": "Charitable organizations", "count": 2, "fewer_than_5": true, "raum": 1207849.0 } ], "disclosure_line": "Reports no disclosure items on Form ADV Item 11.", "disclosure_items": [], "indexable": true, "suppressed": false, "claimed": false, "enhanced": false, "provided_by_the_firm": null, "source": { "name": "Form ADV", "as_of": "2026-10-01", "iapd_url": "https://adviserinfo.sec.gov/firm/summary/116515", "operator": "BH Monitor Services, LLC", "license": "https://creativecommons.org/licenses/by/4.0/", "credit": "AdvisorCensus (advisorcensus.com), from SEC Form ADV data" } }