# Brookstone Asset Management, LLC

> Brookstone Asset Management, LLC is an SEC-registered investment advisory firm in Wheaton, IL, registered since 2011, reporting $500 million to $1 billion in regulatory assets under management in its Form ADV filing dated September 29, 2026.

- CRD: 153467
- Filed as: BROOKSTONE ASSET MANAGEMENT, LLC
- Also doing business as: FORMULA FOLIO INVESTMENTS, LLC, FORMULAFOLIOS
- Registration: SEC-registered investment adviser (status as filed: Approved)
- Location: Wheaton, IL
- Filing period: October 2026
- Form ADV filing dated: September 29, 2026
- SEC record (IAPD): https://adviserinfo.sec.gov/firm/summary/153467
- AdvisorCensus page: https://advisorcensus.com/firm/brookstone-asset-management-llc-wheaton-il-153467

## Quick answers

**How is Brookstone Asset Management, LLC compensated?**
On its Form ADV (Item 5.E, October 2026), Brookstone Asset Management, LLC reports these compensation arrangements: a percentage of assets under its management.

**Where is Brookstone Asset Management, LLC located?**
Brookstone Asset Management, LLC's principal office is in Wheaton, IL, according to its Form ADV; the October 2026 filing also lists 1 other office (Schedule D, Section 1.F).

**Is Brookstone Asset Management, LLC registered with the SEC or a state?**
Brookstone Asset Management, LLC is an SEC-registered investment advisory firm, registered since 2011. Status as filed: Approved. CRD 153467.

**How much does Brookstone Asset Management, LLC manage?**
Brookstone Asset Management, LLC reports $597,943,509 in regulatory assets under management in its Form ADV filing dated September 29, 2026 (100% discretionary).

**How have Brookstone Asset Management, LLC's assets and staff changed since 2021?**
In the Form ADV data for Brookstone Asset Management, LLC: Regulatory assets under management: $3,467,023,250 in the October 2021 data and $597,943,509 in the October 2026 data, down 83%. Total employees: 30 in October 2021 and 5 in October 2026. Assets under management move with markets as well as with clients coming and going.

**What types of clients does Brookstone Asset Management, LLC serve?**
By number of clients on Form ADV Item 5.D: investment companies (8).

**Does Brookstone Asset Management, LLC report any disciplinary disclosures?**
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/153467

**What changed in Brookstone Asset Management, LLC's recent Form ADV filings?**
In the October 2026 filing data: Updated its list of owners and control persons (Schedule A).

## From the Form ADV filing

### Compensation (Item 5.E)
- A percentage of assets under your management

### Regulatory assets under management (Item 5.F)
- Total: $597,943,509
- Discretionary: $597,943,509
- Non-discretionary: $0

### Clients (Item 5.D)

| Client type | Clients | Assets |
| --- | --- | --- |
| Investment companies | 8 | $597,943,509 |

### Advisory services (Item 5.G)
- Portfolio management for investment companies (and business development companies)

### Firm details
- Registered since: 2011 (14 years)
- Employees: 5 total, 4 performing advisory functions
- Wrap fee program participation: No
- States registered or notice-filed: IL, MI
- Disclosures (Item 11): Reports no disclosure items on Form ADV Item 11.

### Other offices (Schedule D, Section 1.F), as of the October 2026 filing
- Grand Rapids, MI

### Websites listed on Form ADV (Item 1.I)
- brookstoneam.com
- formulafoliofunds.com

## Assets and staff over time

| Data period | Regulatory assets under management | Employees | Filing dated |
| --- | --- | --- | --- |
| October 2021 | $3,467,023,250 | 30 | September 7, 2021 |
| October 2022 | $484,345,000 | 6 | May 19, 2022 |
| October 2023 | $219,593,000 | 6 | May 22, 2023 |
| October 2024 | $384,902,333 | 6 | March 5, 2024 |
| October 2025 | $507,587,539 | 5 | January 31, 2025 |
| October 2026 | $597,943,509 | 5 | September 29, 2026 |

Regulatory assets under management: $3,467,023,250 in the October 2021 data and $597,943,509 in the October 2026 data, down 83%.
Total employees: 30 in October 2021 and 5 in October 2026.

## Changes in the filing (last 12 months)

### October 2026
- Updated its list of owners and control persons (Schedule A).

### March 2026
- Regulatory assets under management went from $507,587,539 to $597,943,509 (+18%).

## Source

Form ADV as filed, October 2026. Values appear as filed. Cite as: AdvisorCensus. Brookstone Asset Management, LLC (CRD 153467): Form ADV filing data as of October 2026.