# Cain, Watters & Associates, LLC

> Cain, Watters & Associates, LLC is an SEC-registered investment advisory firm in Frisco, TX, registered since 1991, reporting over $5 billion in regulatory assets under management in its Form ADV filing dated June 4, 2026.

- CRD: 111521
- Filed as: CAIN, WATTERS & ASSOCIATES, LLC
- Registration: SEC-registered investment adviser (status as filed: Approved)
- Location: Frisco, TX
- Filing period: October 2026
- Form ADV filing dated: June 4, 2026
- SEC record (IAPD): https://adviserinfo.sec.gov/firm/summary/111521
- AdvisorCensus page: https://advisorcensus.com/firm/cain-watters-and-associates-llc-frisco-tx-111521

## Quick answers

**How is Cain, Watters & Associates, LLC compensated?**
On its Form ADV (Item 5.E, October 2026), Cain, Watters & Associates, LLC reports these compensation arrangements: a percentage of assets under its management; hourly charges; fixed fees (other than subscription fees).

**Where is Cain, Watters & Associates, LLC located?**
Cain, Watters & Associates, LLC's principal office is in Frisco, TX, according to its Form ADV; the July 2026 filing also lists 1 other office (Schedule D, Section 1.F).

**Is Cain, Watters & Associates, LLC registered with the SEC or a state?**
Cain, Watters & Associates, LLC is an SEC-registered investment advisory firm, registered since 1991. Status as filed: Approved. CRD 111521.

**How much does Cain, Watters & Associates, LLC manage?**
Cain, Watters & Associates, LLC reports $5,036,805,273 in regulatory assets under management in its Form ADV filing dated June 4, 2026 (47% discretionary).

**How have Cain, Watters & Associates, LLC's assets and staff changed since 2021?**
In the Form ADV data for Cain, Watters & Associates, LLC: Regulatory assets under management: $2,179,283,661 in the October 2021 data and $5,036,805,273 in the October 2026 data, up 131%. Total employees: 155 in October 2021 and 341 in October 2026. Assets under management move with markets as well as with clients coming and going.

**What types of clients does Cain, Watters & Associates, LLC serve?**
By number of clients on Form ADV Item 5.D: individuals (other than high net worth individuals) (1,474); other (1,122); high net worth individuals (800).

**Which custodians does Cain, Watters & Associates, LLC use?**
Cain, Watters & Associates, LLC's most recent Form ADV filing (Schedule D, Section 5.K(3)) lists Charles Schwab & Co., Inc. and T Bank (affiliated with the firm) as custodians holding 10% or more of its separately managed account assets.

**Does Cain, Watters & Associates, 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/111521

**What changed in Cain, Watters & Associates, LLC's recent Form ADV filings?**
In the April 2026 filing data: Employees performing advisory functions went from 71 to 86. Regulatory assets under management went from $4,237,891,280 to $5,036,805,273 (+19%).

## From the Form ADV filing

### Compensation (Item 5.E)
- A percentage of assets under your management
- Hourly charges
- Fixed fees (other than subscription fees)

### Custodians (Schedule D, Section 5.K(3))
- Charles Schwab & Co., Inc.
- T Bank (affiliated with the firm)

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.

### Regulatory assets under management (Item 5.F)
- Total: $5,036,805,273
- Discretionary: $2,382,606,144
- Non-discretionary: $2,654,199,129

### Clients (Item 5.D)

| Client type | Clients | Assets |
| --- | --- | --- |
| Individuals (other than high net worth individuals) | 1,474 | $425,605,144 |
| High net worth individuals | 800 | $2,512,445,166 |
| Charitable organizations | 1 | $1,885,020 |
| Other | 1,122 | $2,096,869,943 |

### Advisory services (Item 5.G)
- Financial planning services
- Portfolio management for individuals and/or small businesses
- Selection of other advisers (including private fund managers)
- Educational seminars/workshops

### Firm details
- Registered since: 1991 (35 years)
- Employees: 341 total, 86 performing advisory functions
- Wrap fee program participation: No
- States registered or notice-filed: AK, AL, AR, AZ, CA, CO, CT, DC, 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, RI, SC, SD, TN, TX, UT, VA, VT, WA, WI, WV, WY
- Disclosures (Item 11): Reports no disclosure items on Form ADV Item 11.

### Other offices (Schedule D, Section 1.F), as of the July 2026 filing
- Kaysville, UT

### Websites listed on Form ADV (Item 1.I)
- cainwatters.com
- cfoortho.com
- Facebook @CainWatters
- Facebook @cfoortho
- Instagram @cwa_advisors
- LinkedIn @cain-watters-&-associates
- LinkedIn @cfoortho
- YouTube @cainwattersassociates9083

## Assets and staff over time

| Data period | Regulatory assets under management | Employees | Filing dated |
| --- | --- | --- | --- |
| October 2021 | $2,179,283,661 | 155 | March 21, 2021 |
| October 2022 | $2,753,384,041 | 225 | March 31, 2022 |
| October 2023 | $2,664,713,561 | 265 | March 31, 2023 |
| October 2024 | $3,544,679,305 | 283 | May 29, 2024 |
| October 2025 | $4,237,891,280 | 337 | April 1, 2025 |
| October 2026 | $5,036,805,273 | 341 | June 4, 2026 |

Regulatory assets under management: $2,179,283,661 in the October 2021 data and $5,036,805,273 in the October 2026 data, up 131%.
Total employees: 155 in October 2021 and 341 in October 2026.

## Changes in the filing (last 12 months)

### April 2026
- Employees performing advisory functions went from 71 to 86.
- Regulatory assets under management went from $4,237,891,280 to $5,036,805,273 (+19%).

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

## Source

Form ADV as filed, October 2026. Values appear as filed. Cite as: AdvisorCensus. Cain, Watters & Associates, LLC (CRD 111521): Form ADV filing data as of October 2026.