{
  "crd_number": 105215,
  "slug": "bts-asset-management-inc-lincoln-ma-105215",
  "primary_business_name": "BTS ASSET MANAGEMENT, INC.",
  "legal_name": "BTS ASSET MANAGEMENT INC",
  "dbas": [],
  "city": "Lincoln",
  "state": "MA",
  "country": "United States",
  "cbsa_code": "14460",
  "metro": {
    "cbsa_code": "14460",
    "common_name": "Boston",
    "msa_name": "Boston-Cambridge-Newton, MA-NH",
    "path": "/advisors/ma/boston"
  },
  "registration_type": "sec",
  "registration_status": "Approved",
  "registration_date": "1979-10-25",
  "years_registered": 46,
  "period": "2026-10-01",
  "filing_date": "2026-03-31",
  "carried_forward": false,
  "raum_total": 144772017.0,
  "raum_discretionary": 144772017.0,
  "raum_non_discretionary": 0.0,
  "raum_band": "100m_500m",
  "raum_band_label": "$100 million to $500 million",
  "total_employees": 13,
  "advisory_employees": 4,
  "client_count_bucket": null,
  "clients_by_type": {
    "other": {
      "raum": 0.0,
      "count": 0
    },
    "charitable": {
      "raum": 0.0,
      "count": 0
    },
    "individuals": {
      "raum": 45716648.0,
      "count": 441
    },
    "banking_thrift": {
      "raum": 0.0,
      "count": 0
    },
    "state_municipal": {
      "raum": 0.0,
      "count": 0
    },
    "insurance_companies": {
      "raum": 0.0,
      "count": 0
    },
    "investment_companies": {
      "raum": 60062890.0,
      "count": 3
    },
    "pension_profit_sharing": {
      "raum": 3207306.0,
      "count": 2
    },
    "other_investment_advisers": {
      "raum": 0.0,
      "count": 0
    },
    "high_net_worth_individuals": {
      "raum": 35785173.0,
      "count": 2
    },
    "pooled_investment_vehicles": {
      "raum": 0.0,
      "count": 0
    },
    "corporations_other_businesses": {
      "raum": 0.0,
      "count": 0
    },
    "business_development_companies": {
      "raum": 0.0,
      "count": 0
    },
    "sovereign_wealth_foreign_official": {
      "raum": 0.0,
      "count": 0
    }
  },
  "compensation_types": [
    "percentage_of_aum"
  ],
  "advisory_activities": [
    "market_timing",
    "other",
    "portfolio_management_businesses_institutional",
    "portfolio_management_individuals",
    "portfolio_management_investment_companies"
  ],
  "wrap_fee_participant": true,
  "disclosure_yes_count": 5,
  "states_registered": [
    "AK",
    "AL",
    "AR",
    "AZ",
    "CA",
    "CO",
    "CT",
    "DE",
    "FL",
    "GA",
    "HI",
    "IA",
    "ID",
    "IL",
    "IN",
    "KS",
    "KY",
    "LA",
    "MA",
    "MD",
    "ME",
    "MI",
    "MN",
    "MO",
    "MS",
    "MT",
    "NC",
    "ND",
    "NE",
    "NH",
    "NJ",
    "NM",
    "NV",
    "NY",
    "OH",
    "OK",
    "OR",
    "PA",
    "PR",
    "RI",
    "SC",
    "SD",
    "TN",
    "TX",
    "UT",
    "VA",
    "VT",
    "WA",
    "WI",
    "WV"
  ],
  "websites": [
    "https://btsfunds.com",
    "https://btsmanagement.com",
    "https://linkedin.com/COMPANY/BTS-ASSET-MANAGEMENT"
  ],
  "iapd_url": "https://adviserinfo.sec.gov/firm/summary/105215",
  "disclosure_items": [
    {
      "item": "11.C(1)",
      "question": "Has the SEC or the CFTC ever found that the firm or an advisory affiliate made a false statement or omission?"
    },
    {
      "item": "11.C(2)",
      "question": "Has the SEC or the CFTC ever found that the firm or an advisory affiliate was involved in a violation of SEC or CFTC regulations or statutes?"
    },
    {
      "item": "11.C(4)",
      "question": "Has the SEC or the CFTC ever entered an order against the firm or an advisory affiliate in connection with investment-related activity?"
    },
    {
      "item": "11.C(5)",
      "question": "Has the SEC or the CFTC ever imposed a civil money penalty on the firm or an advisory affiliate, or ordered the firm or an advisory affiliate to cease and desist from an activity?"
    },
    {
      "item": "11.D(4)",
      "question": "In the past ten years, has another federal regulator, a state regulator, or a foreign financial regulator entered an order against the firm or an advisory affiliate in connection with investment-related activity?"
    }
  ],
  "city_as_filed": "LINCOLN",
  "url": "https://advisorcensus.com/firm/bts-asset-management-inc-lincoln-ma-105215",
  "display_name": "BTS Asset Management, Inc.",
  "summary": "BTS Asset Management, Inc. is an SEC-registered investment advisory firm in Lincoln, MA, registered since 1979, reporting $100 million to $500 million in regulatory assets under management in its Form ADV filing dated March 31, 2026.",
  "citation": "AdvisorCensus. BTS Asset Management, Inc. (CRD 105215): Form ADV filing data as of October 2026.",
  "registration_type_label": "SEC-registered investment adviser",
  "compensation_labels": [
    "A percentage of assets under your management"
  ],
  "advisory_activity_labels": [
    "Portfolio management for individuals and/or small businesses",
    "Portfolio management for investment companies (and business development companies)",
    "Portfolio management for businesses (other than small businesses) or institutional clients",
    "Market timing services",
    "Other"
  ],
  "quick_answers": [
    {
      "q": "How is BTS Asset Management, Inc. compensated?",
      "a": "On its Form ADV (Item 5.E, October 2026), BTS Asset Management, Inc. reports these compensation arrangements: a percentage of assets under its management. The amounts are in Item 5 of its Form ADV Part 2A brochure."
    },
    {
      "q": "Where is BTS Asset Management, Inc. located?",
      "a": "BTS Asset Management, Inc.'s principal office is in Lincoln, MA, according to its Form ADV."
    },
    {
      "q": "Is BTS Asset Management, Inc. registered with the SEC or a state?",
      "a": "BTS Asset Management, Inc. is an SEC-registered investment advisory firm, registered since 1979. Status as filed: Approved. CRD 105215."
    },
    {
      "q": "How much does BTS Asset Management, Inc. manage?",
      "a": "BTS Asset Management, Inc. reports $144,772,017 in regulatory assets under management in its Form ADV filing dated March 31, 2026 (100% discretionary)."
    },
    {
      "q": "How have BTS Asset Management, Inc.'s assets and staff changed since 2021?",
      "a": "In the Form ADV data for BTS Asset Management, Inc.: Regulatory assets under management: $805,361,820 in the October 2021 data and $144,772,017 in the October 2026 data, down 82%. Total employees: 31 in October 2021 and 13 in October 2026. Assets under management move with markets as well as with clients coming and going."
    },
    {
      "q": "What types of clients does BTS Asset Management, Inc. serve?",
      "a": "By number of clients on Form ADV Item 5.D: individuals (other than high net worth individuals) (441); investment companies (3); high net worth individuals (2)."
    },
    {
      "q": "Which custodians does BTS Asset Management, Inc. use?",
      "a": "BTS Asset Management, Inc.'s most recent Form ADV filing (Schedule D, Section 5.K(3)) lists Axos Advisor Services as a custodian holding 10% or more of its separately managed account assets."
    },
    {
      "q": "Does BTS Asset Management, Inc. report any disciplinary disclosures?",
      "a": "Reports 5 disclosure items on Form ADV Item 11: yes answers to 11.C(1) (SEC or CFTC finding of a false statement or omission), 11.C(2) (SEC or CFTC finding of a violation), 11.C(4) (SEC or CFTC order), 11.C(5) (SEC or CFTC civil money penalty or cease-and-desist order), and 11.D(4) (another regulator's order in the past ten years). Each question covers the firm and its advisory affiliates, and one event can produce several yes answers. The detail of any item is on the firm's SEC record: https://adviserinfo.sec.gov/firm/summary/105215"
    },
    {
      "q": "What changed in BTS Asset Management, Inc.'s recent Form ADV filings?",
      "a": "In the April 2026 filing data: Regulatory assets under management went from $188,801,492 to $144,772,017 (-23%). Updated its list of owners and control persons (Schedule A)."
    }
  ],
  "filing_history": [
    {
      "period": "2021-10-01",
      "regulatory_assets_under_management": 805361820.0,
      "total_employees": 31,
      "filing_date": "2021-03-31"
    },
    {
      "period": "2022-10-01",
      "regulatory_assets_under_management": 613272735.0,
      "total_employees": 29,
      "filing_date": "2022-03-23"
    },
    {
      "period": "2023-10-01",
      "regulatory_assets_under_management": 377395288.0,
      "total_employees": 21,
      "filing_date": "2023-09-21"
    },
    {
      "period": "2024-10-01",
      "regulatory_assets_under_management": 208504026.0,
      "total_employees": 19,
      "filing_date": "2024-08-29"
    },
    {
      "period": "2025-10-01",
      "regulatory_assets_under_management": 188801492.0,
      "total_employees": 17,
      "filing_date": "2025-06-30"
    },
    {
      "period": "2026-10-01",
      "regulatory_assets_under_management": 144772017.0,
      "total_employees": 13,
      "filing_date": "2026-03-31"
    }
  ],
  "recent_changes": [
    {
      "period": "2026-04-01",
      "period_label": "April 2026",
      "notes": [
        "Regulatory assets under management went from $188,801,492 to $144,772,017 (-23%).",
        "Updated its list of owners and control persons (Schedule A)."
      ]
    }
  ],
  "fees_from_brochure": null,
  "custodians": [
    {
      "name": "Axos Advisor Services",
      "name_as_filed": "AXOS ADVISOR SERVICES",
      "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/bts-asset-management-inc-lincoln-ma-105215.md",
  "clients": [
    {
      "type": "individuals",
      "label": "Individuals (other than high net worth individuals)",
      "count": 441,
      "fewer_than_5": false,
      "raum": 45716648.0
    },
    {
      "type": "high_net_worth_individuals",
      "label": "High net worth individuals",
      "count": 2,
      "fewer_than_5": false,
      "raum": 35785173.0
    },
    {
      "type": "banking_thrift",
      "label": "Banking or thrift institutions",
      "count": 0,
      "fewer_than_5": false,
      "raum": 0.0
    },
    {
      "type": "investment_companies",
      "label": "Investment companies",
      "count": 3,
      "fewer_than_5": false,
      "raum": 60062890.0
    },
    {
      "type": "business_development_companies",
      "label": "Business development companies",
      "count": 0,
      "fewer_than_5": false,
      "raum": 0.0
    },
    {
      "type": "pooled_investment_vehicles",
      "label": "Pooled investment vehicles (other than investment companies and business development companies)",
      "count": 0,
      "fewer_than_5": false,
      "raum": 0.0
    },
    {
      "type": "pension_profit_sharing",
      "label": "Pension and profit sharing plans (but not the plan participants or government pension plans)",
      "count": 2,
      "fewer_than_5": false,
      "raum": 3207306.0
    },
    {
      "type": "charitable",
      "label": "Charitable organizations",
      "count": 0,
      "fewer_than_5": false,
      "raum": 0.0
    },
    {
      "type": "state_municipal",
      "label": "State or municipal government entities (including government pension plans)",
      "count": 0,
      "fewer_than_5": false,
      "raum": 0.0
    },
    {
      "type": "other_investment_advisers",
      "label": "Other investment advisers",
      "count": 0,
      "fewer_than_5": false,
      "raum": 0.0
    },
    {
      "type": "insurance_companies",
      "label": "Insurance companies",
      "count": 0,
      "fewer_than_5": false,
      "raum": 0.0
    },
    {
      "type": "sovereign_wealth_foreign_official",
      "label": "Sovereign wealth funds and foreign official institutions",
      "count": 0,
      "fewer_than_5": false,
      "raum": 0.0
    },
    {
      "type": "corporations_other_businesses",
      "label": "Corporations or other businesses not listed above",
      "count": 0,
      "fewer_than_5": false,
      "raum": 0.0
    },
    {
      "type": "other",
      "label": "Other",
      "count": 0,
      "fewer_than_5": false,
      "raum": 0.0
    }
  ],
  "disclosure_line": "Reports 5 disclosure items on Form ADV Item 11.",
  "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/105215",
    "operator": "BH Monitor Services, LLC",
    "license": "https://creativecommons.org/licenses/by/4.0/",
    "credit": "AdvisorCensus (advisorcensus.com), from SEC Form ADV data"
  }
}