{
  "crd_number": 289329,
  "slug": "cedar-spring-advisors-llc-289329",
  "primary_business_name": "CEDAR SPRING ADVISORS, LLC",
  "legal_name": "CEDAR SPRING ADVISORS, LLC",
  "dbas": [
    "FLETCH FINANCIAL",
    "HALCYON FINANCIAL",
    "MCMASTER FINANCIAL",
    "RAGO FINANCIAL"
  ],
  "city": null,
  "state": null,
  "country": null,
  "cbsa_code": null,
  "metro": null,
  "registration_type": "sec",
  "registration_status": "Approved",
  "registration_date": "2023-03-16",
  "years_registered": 3,
  "period": "2026-10-01",
  "filing_date": "2026-01-27",
  "carried_forward": false,
  "raum_total": 169418524.0,
  "raum_discretionary": 151035086.0,
  "raum_non_discretionary": 18383438.0,
  "raum_band": "100m_500m",
  "raum_band_label": "$100 million to $500 million",
  "total_employees": 4,
  "advisory_employees": 4,
  "client_count_bucket": "fewer_than_5_in_some_types",
  "clients_by_type": {
    "charitable": {
      "raum": 452255.0,
      "count": 1,
      "fewer_than_5": true
    },
    "individuals": {
      "raum": 67733323.0,
      "count": 231
    },
    "high_net_worth_individuals": {
      "raum": 101232946.0,
      "count": 53
    }
  },
  "compensation_types": [
    "fixed",
    "hourly",
    "percentage_of_aum"
  ],
  "advisory_activities": [
    "financial_planning",
    "portfolio_management_individuals",
    "selection_of_other_advisers"
  ],
  "wrap_fee_participant": false,
  "disclosure_yes_count": 0,
  "states_registered": [
    "FL",
    "KY",
    "MD",
    "MI",
    "NH",
    "NJ",
    "PA",
    "TX",
    "VA"
  ],
  "websites": [
    "https://halcyonfin.com",
    "https://linkedin.com/in/bob-rago-chfc%C2%AE-46ab0664",
    "https://linkedin.com/in/brendonworst",
    "https://linkedin.com/in/justinmcmaster?trk=people-guest_people_search-card"
  ],
  "iapd_url": "https://adviserinfo.sec.gov/firm/summary/289329",
  "city_as_filed": null,
  "url": "https://advisorcensus.com/firm/cedar-spring-advisors-llc-289329",
  "display_name": "Cedar Spring Advisors, LLC",
  "summary": "Cedar Spring Advisors, LLC is an SEC-registered investment advisory firm, registered since 2023, reporting $100 million to $500 million in regulatory assets under management in its Form ADV filing dated January 27, 2026.",
  "citation": "AdvisorCensus. Cedar Spring Advisors, LLC (CRD 289329): Form ADV filing data as of October 2026.",
  "registration_type_label": "SEC-registered investment adviser",
  "compensation_labels": [
    "A percentage of assets under your management",
    "Hourly charges",
    "Fixed fees (other than subscription fees)"
  ],
  "advisory_activity_labels": [
    "Financial planning services",
    "Portfolio management for individuals and/or small businesses",
    "Selection of other advisers (including private fund managers)"
  ],
  "quick_answers": [
    {
      "q": "How is Cedar Spring Advisors, LLC compensated?",
      "a": "On its Form ADV (Item 5.E, October 2026), Cedar Spring Advisors, LLC reports these compensation arrangements: a percentage of assets under its management; hourly charges; fixed fees (other than subscription fees)."
    },
    {
      "q": "How much does Cedar Spring Advisors, LLC charge?",
      "a": "Its Form ADV Part 2A brochure dated January 27, 2026 states: Flat fee: $1,000 to $5,000 (Financial Planning Services). Fees can differ by service and may be negotiable; the brochure is the complete statement."
    },
    {
      "q": "Is Cedar Spring Advisors, LLC registered with the SEC or a state?",
      "a": "Cedar Spring Advisors, LLC is an SEC-registered investment advisory firm, registered since 2023. Status as filed: Approved. CRD 289329."
    },
    {
      "q": "How much does Cedar Spring Advisors, LLC manage?",
      "a": "Cedar Spring Advisors, LLC reports $169,418,524 in regulatory assets under management in its Form ADV filing dated January 27, 2026 (89% discretionary)."
    },
    {
      "q": "How have Cedar Spring Advisors, LLC's assets and staff changed since 2023?",
      "a": "In the Form ADV data for Cedar Spring Advisors, LLC: Regulatory assets under management: $107,227,770 in the October 2023 data and $169,418,524 in the October 2026 data, up 58%. Total employees: 4 in October 2023 and 4 in October 2026. Assets under management move with markets as well as with clients coming and going."
    },
    {
      "q": "What types of clients does Cedar Spring Advisors, LLC serve?",
      "a": "By number of clients on Form ADV Item 5.D: individuals (other than high net worth individuals) (231); high net worth individuals (53); charitable organizations (1)."
    },
    {
      "q": "Which custodians does Cedar Spring Advisors, LLC use?",
      "a": "Cedar Spring Advisors, LLC's most recent Form ADV filing (Schedule D, Section 5.K(3)) lists Charles Schwab & Co., Inc. as a custodian holding 10% or more of its separately managed account assets."
    },
    {
      "q": "Does Cedar Spring Advisors, LLC 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/289329"
    },
    {
      "q": "Does Cedar Spring Advisors, LLC state an account minimum?",
      "a": "Its Form ADV Part 2A brochure dated January 27, 2026 says: \"CSA does not require a minimum to open an account.\""
    },
    {
      "q": "What changed in Cedar Spring Advisors, LLC's recent Form ADV filings?",
      "a": "In the February 2026 filing data: Regulatory assets under management went from $139,398,193 to $169,418,524 (+22%). Registered or notice-filed in VA."
    }
  ],
  "filing_history": [
    {
      "period": "2023-10-01",
      "regulatory_assets_under_management": 107227770.0,
      "total_employees": 4,
      "filing_date": "2023-09-29"
    },
    {
      "period": "2024-10-01",
      "regulatory_assets_under_management": 115399021.0,
      "total_employees": 4,
      "filing_date": "2024-07-11"
    },
    {
      "period": "2025-10-01",
      "regulatory_assets_under_management": 139398193.0,
      "total_employees": 4,
      "filing_date": "2025-01-29"
    },
    {
      "period": "2026-10-01",
      "regulatory_assets_under_management": 169418524.0,
      "total_employees": 4,
      "filing_date": "2026-01-27"
    }
  ],
  "recent_changes": [
    {
      "period": "2026-02-01",
      "period_label": "February 2026",
      "notes": [
        "Regulatory assets under management went from $139,398,193 to $169,418,524 (+22%).",
        "Registered or notice-filed in VA."
      ]
    }
  ],
  "fees_from_brochure": {
    "source": "Form ADV Part 2A brochure dated January 27, 2026",
    "provided_by_the_firm": false,
    "tiers": [],
    "flat_rate": null,
    "stated_range": null,
    "stated_maximum": null,
    "account_minimum": "None",
    "account_minimum_may_be_waived": false,
    "minimum_annual_fee": null,
    "planning_fees": [
      "Flat fee: $1,000 to $5,000 (Financial Planning Services)"
    ],
    "figures": [
      {
        "label": "Account minimum",
        "statements": [
          "Account minimum: None"
        ],
        "quotes": [
          "CSA does not require a minimum to open an account."
        ]
      },
      {
        "label": "Planning fee",
        "statements": [
          "Flat fee: $1,000 to $5,000 (Financial Planning Services)"
        ],
        "quotes": [
          "Financial Planning Services are offered based on a flat fee between $1,000 and $5,000."
        ]
      }
    ],
    "values": {
      "tiers": [],
      "range_pct": null,
      "max_pct": null,
      "account_minimum": 0.0,
      "minimum_annual_fee": null,
      "planning": [
        {
          "kind": "flat",
          "amount": null,
          "min": 1000.0,
          "max": 5000.0,
          "period": "one_time",
          "service": "Financial Planning Services"
        }
      ]
    },
    "quotes": [
      "CSA does not require a minimum to open an account.",
      "Financial Planning Services are offered based on a flat fee between $1,000 and $5,000."
    ],
    "note": "As stated in the firm's brochure; fees can differ by service and may be negotiable."
  },
  "custodians": [
    {
      "name": "Charles Schwab & Co., Inc.",
      "name_as_filed": "CHARLES SCHWAB & CO., INC.",
      "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/cedar-spring-advisors-llc-289329.md",
  "clients": [
    {
      "type": "individuals",
      "label": "Individuals (other than high net worth individuals)",
      "count": 231,
      "fewer_than_5": false,
      "raum": 67733323.0
    },
    {
      "type": "high_net_worth_individuals",
      "label": "High net worth individuals",
      "count": 53,
      "fewer_than_5": false,
      "raum": 101232946.0
    },
    {
      "type": "charitable",
      "label": "Charitable organizations",
      "count": 1,
      "fewer_than_5": true,
      "raum": 452255.0
    }
  ],
  "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/289329",
    "operator": "BH Monitor Services, LLC",
    "license": "https://creativecommons.org/licenses/by/4.0/",
    "credit": "AdvisorCensus (advisorcensus.com), from SEC Form ADV data"
  }
}