{
  "crd_number": 319690,
  "slug": "bunker-san-francisco-ca-319690",
  "primary_business_name": "BUNKER",
  "legal_name": "SMARTADVISOR LLC",
  "dbas": [],
  "city": "San Francisco",
  "state": "CA",
  "country": "United States",
  "cbsa_code": "41860",
  "metro": {
    "cbsa_code": "41860",
    "common_name": "San Francisco",
    "msa_name": "San Francisco-Oakland-Fremont, CA",
    "path": "/advisors/ca/san-francisco"
  },
  "registration_type": "sec",
  "registration_status": "Approved",
  "registration_date": "2022-08-05",
  "years_registered": 4,
  "period": "2026-10-01",
  "filing_date": "2026-03-19",
  "carried_forward": false,
  "raum_total": 29194161.0,
  "raum_discretionary": 29194161.0,
  "raum_non_discretionary": 0.0,
  "raum_band": "25m_100m",
  "raum_band_label": "$25 million to $100 million",
  "total_employees": 8,
  "advisory_employees": 2,
  "client_count_bucket": null,
  "clients_by_type": {
    "other": {
      "raum": 0.0,
      "count": 0
    },
    "charitable": {
      "raum": 0.0,
      "count": 0
    },
    "individuals": {
      "raum": 9569230.0,
      "count": 132
    },
    "banking_thrift": {
      "raum": 0.0,
      "count": 0
    },
    "state_municipal": {
      "raum": 0.0,
      "count": 0
    },
    "insurance_companies": {
      "raum": 0.0,
      "count": 0
    },
    "investment_companies": {
      "raum": 0.0,
      "count": 0
    },
    "pension_profit_sharing": {
      "raum": 0.0,
      "count": 0
    },
    "other_investment_advisers": {
      "raum": 0.0,
      "count": 0
    },
    "high_net_worth_individuals": {
      "raum": 19624931.0,
      "count": 6
    },
    "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": [
    "fixed",
    "percentage_of_aum"
  ],
  "advisory_activities": [
    "portfolio_management_individuals"
  ],
  "wrap_fee_participant": false,
  "disclosure_yes_count": 0,
  "states_registered": [],
  "websites": [
    "https://bunkerinvest.us",
    "https://instagram.com/bunker.invest",
    "https://linkedin.com/company/bunker-invest",
    "https://medium.com/my-bunker"
  ],
  "iapd_url": "https://adviserinfo.sec.gov/firm/summary/319690",
  "city_as_filed": "SAN FRANCISCO",
  "url": "https://advisorcensus.com/firm/bunker-san-francisco-ca-319690",
  "display_name": "Bunker",
  "summary": "Bunker is an SEC-registered investment advisory firm in San Francisco, CA, registered since 2022, reporting $25 million to $100 million in regulatory assets under management in its Form ADV filing dated March 19, 2026.",
  "citation": "AdvisorCensus. Bunker (CRD 319690): 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": [
    "Portfolio management for individuals and/or small businesses"
  ],
  "quick_answers": [
    {
      "q": "How is Bunker compensated?",
      "a": "On its Form ADV (Item 5.E, October 2026), Bunker reports these compensation arrangements: a percentage of assets under its management; fixed fees (other than subscription fees)."
    },
    {
      "q": "Where is Bunker located?",
      "a": "Bunker's principal office is in San Francisco, CA, according to its Form ADV."
    },
    {
      "q": "Is Bunker registered with the SEC or a state?",
      "a": "Bunker is an SEC-registered investment advisory firm, registered since 2022. Status as filed: Approved. CRD 319690."
    },
    {
      "q": "How much does Bunker manage?",
      "a": "Bunker reports $29,194,161 in regulatory assets under management in its Form ADV filing dated March 19, 2026 (100% discretionary)."
    },
    {
      "q": "How have Bunker's assets and staff changed since 2022?",
      "a": "In the Form ADV data for Bunker: Regulatory assets under management: $0 in the October 2022 data and $29,194,161 in the October 2026 data. Total employees: 9 in October 2022 and 8 in October 2026. Assets under management move with markets as well as with clients coming and going."
    },
    {
      "q": "What types of clients does Bunker serve?",
      "a": "By number of clients on Form ADV Item 5.D: individuals (other than high net worth individuals) (132); high net worth individuals (6)."
    },
    {
      "q": "Which custodians does Bunker use?",
      "a": "Bunker's most recent Form ADV filing (Schedule D, Section 5.K(3)) lists Apex Clearing Corporation and Interactive Brokers LLC as custodians holding 10% or more of its separately managed account assets."
    },
    {
      "q": "Does Bunker 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/319690"
    },
    {
      "q": "Does Bunker state an account minimum?",
      "a": "Its Form ADV Part 2A brochure dated March 19, 2026 says: \"In general, BUNKER requires a minimum investment amount of $500 to open an account. BUNKER reserves the right to waive account minimums on a case-by-case basis and at its sole discretion.\""
    },
    {
      "q": "What changed in Bunker's recent Form ADV filings?",
      "a": "In the April 2026 filing data: Regulatory assets under management went from $20,157,400 to $29,194,161 (+45%)."
    }
  ],
  "filing_history": [
    {
      "period": "2022-10-01",
      "regulatory_assets_under_management": 0.0,
      "total_employees": 9,
      "filing_date": "2022-07-29"
    },
    {
      "period": "2023-10-01",
      "regulatory_assets_under_management": 1979622.0,
      "total_employees": 14,
      "filing_date": "2023-05-18"
    },
    {
      "period": "2024-10-01",
      "regulatory_assets_under_management": 7980024.0,
      "total_employees": 13,
      "filing_date": "2024-05-17"
    },
    {
      "period": "2025-10-01",
      "regulatory_assets_under_management": 20157400.0,
      "total_employees": 11,
      "filing_date": "2025-03-25"
    },
    {
      "period": "2026-10-01",
      "regulatory_assets_under_management": 29194161.0,
      "total_employees": 8,
      "filing_date": "2026-03-19"
    }
  ],
  "recent_changes": [
    {
      "period": "2026-04-01",
      "period_label": "April 2026",
      "notes": [
        "Regulatory assets under management went from $20,157,400 to $29,194,161 (+45%)."
      ]
    },
    {
      "period": "2025-11-01",
      "period_label": "November 2025",
      "notes": [
        "Updated its list of owners and control persons (Schedule A)."
      ]
    }
  ],
  "fees_from_brochure": {
    "source": "Form ADV Part 2A brochure dated March 19, 2026",
    "tiers": [],
    "flat_rate": null,
    "stated_range": null,
    "stated_maximum": null,
    "account_minimum": "$500",
    "account_minimum_may_be_waived": true,
    "minimum_annual_fee": null,
    "figures": [
      {
        "label": "Account minimum",
        "statements": [
          "Account minimum: $500 (the brochure says it may be waived or negotiated)"
        ],
        "quotes": [
          "In general, BUNKER requires a minimum investment amount of $500 to open an account. BUNKER reserves the right to waive account minimums on a case-by-case basis and at its sole discretion."
        ]
      }
    ],
    "quotes": [
      "In general, BUNKER requires a minimum investment amount of $500 to open an account. BUNKER reserves the right to waive account minimums on a case-by-case basis and at its sole discretion."
    ],
    "note": "As stated in the firm's brochure; fees can differ by service and may be negotiable."
  },
  "custodians": [
    {
      "name": "Apex Clearing Corporation",
      "name_as_filed": "APEX CLEARING CORPORATION",
      "affiliated": false
    },
    {
      "name": "Interactive Brokers LLC",
      "name_as_filed": "INTERACTIVE BROKERS 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/bunker-san-francisco-ca-319690.md",
  "clients": [
    {
      "type": "individuals",
      "label": "Individuals (other than high net worth individuals)",
      "count": 132,
      "fewer_than_5": false,
      "raum": 9569230.0
    },
    {
      "type": "high_net_worth_individuals",
      "label": "High net worth individuals",
      "count": 6,
      "fewer_than_5": false,
      "raum": 19624931.0
    },
    {
      "type": "banking_thrift",
      "label": "Banking or thrift institutions",
      "count": 0,
      "fewer_than_5": false,
      "raum": 0.0
    },
    {
      "type": "investment_companies",
      "label": "Investment companies",
      "count": 0,
      "fewer_than_5": false,
      "raum": 0.0
    },
    {
      "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": 0,
      "fewer_than_5": false,
      "raum": 0.0
    },
    {
      "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 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/319690",
    "operator": "BH Monitor Services, LLC",
    "license": "https://creativecommons.org/licenses/by/4.0/",
    "credit": "AdvisorCensus (advisorcensus.com), from SEC Form ADV data"
  }
}