AdvisorCensus / Financial advisors / Idaho / Boise City / Clearwater Advisors, LLC
Clearwater Advisors, LLC is an SEC-registered investment advisory firm in Boise, ID, registered since 2001, reporting $1 billion to $5 billion in regulatory assets under management in its Form ADV filing dated May 7, 2026.
Quick answers
From the filingHow is Clearwater Advisors, LLC compensated?
On its Form ADV (Item 5.E, October 2026), Clearwater Advisors, LLC reports these compensation arrangements: a percentage of assets under its management; fixed fees (other than subscription fees).
How much does Clearwater Advisors, LLC charge?
Its Form ADV Part 2A brochure dated May 7, 2026 states: Asset-based fee: 0.1% to 0.4% a year (a range, as the brochure states it). Fees can differ by service and may be negotiable; the brochure is the complete statement.
Where is Clearwater Advisors, LLC located?
Clearwater Advisors, LLC's principal office is in Boise, ID, according to its Form ADV.
Is Clearwater Advisors, LLC registered with the SEC or a state?
Clearwater Advisors, LLC is an SEC-registered investment advisory firm, registered since 2001. Status as filed: Approved. CRD 116865.
How much does Clearwater Advisors, LLC manage?
Clearwater Advisors, LLC reports $4,650,566,101 in regulatory assets under management in its Form ADV filing dated May 7, 2026 (84% discretionary).
How have Clearwater Advisors, LLC's assets and staff changed since 2021?
In the Form ADV data for Clearwater Advisors, LLC: Regulatory assets under management: $4,001,533,347 in the October 2021 data and $4,650,566,101 in the October 2026 data, up 16%. Total employees: 9 in October 2021 and 9 in October 2026. Assets under management move with markets as well as with clients coming and going.
What types of clients does Clearwater Advisors, LLC serve?
By number of clients on Form ADV Item 5.D: corporations or other businesses not listed above (17); state or municipal government entities (including government pension plans) (10); insurance companies (5).
Which custodians does Clearwater Advisors, LLC use?
Clearwater Advisors, LLC's most recent Form ADV filing (Schedule D, Section 5.K(3)) lists BNY Mellon Capital Markets, LLC and U.S. Bancorp Investments, Inc. as custodians holding 10% or more of its separately managed account assets.
Does Clearwater Advisors, 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/116865
Does Clearwater Advisors, LLC state an account minimum?
Its Form ADV Part 2A brochure dated May 7, 2026 says: "Clearwater assesses and accepts clients on a case-by-case basis, with no set minimum account size."
From the Form ADV filing
Every figure below is as the firm filed it with regulators, as of October 2026.
How the firm is compensated
Item 5.E- A percentage of assets under your management
- Fixed fees (other than subscription fees)
Item 5.E lists how the firm is compensated for its advice; Items 5.B, 6.A, and 7.A show whether its people or related companies can also earn commissions. Percentage of assets, fixed, hourly, subscription, and performance-based fees come from clients (a performance-based fee depends on investment results); commissions come with a sale or a trade, often from the company behind the product. How fees, commissions, and other arrangements differ
Fees and minimums
Form ADV Part 2AAsset-based fee: 0.1% to 0.4% a year (a range, as the brochure states it)
The brochure's wording
Management fees typically range between 0.1% and 0.40% of assets under management.
Account minimum: None
The brochure's wording
Clearwater assesses and accepts clients on a case-by-case basis, with no set minimum account size.
As stated in the firm's Form ADV Part 2A brochure dated May 7, 2026. Fees can differ by service and may be negotiable; the brochure is the complete statement. Read the brochure on the SEC's IAPD site
Regulatory assets under management
Item 5.F$4,650,566,101 as of October 2026, filing dated May 7, 2026.
A measure of scale, not skill or returns. Discretionary means the firm decides trades; non-discretionary means clients approve each one. What assets under management means
Who the firm serves
Item 5.DA firm with no individual clients is an institutional manager even if it manages billions; the mix tells you whom the practice is built around.
Advisory services
Item 5.G- Portfolio management for individuals and/or small businesses
- Portfolio management for businesses (other than small businesses) or institutional clients
- Other
Registration and firm details
Items 1, 2, 5- Registration
- SEC-registered investment adviser. Status as filed: Approved.
- Registered since
- 2001 (24 years)
- Employees
- Total: 9. Performing investment advisory functions: 5.
- Wrap fee program participation
- No.
- Custodians (Schedule D, Section 5.K(3))
-
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.
- States registered or notice-filed
-
5 states or jurisdictions
SEC-registered investment advisers are examined by the SEC. SEC, state, and exempt registration
Disclosures
Item 11None Reports no disclosure items on Form ADV Item 11. View on IAPD.
Item 11 asks about criminal, regulatory, and civil events involving the firm and its advisory personnel. The detail of each yes answer is on the IAPD record. Reading a firm's disclosures
Assets and staff over time
Items 5.A, 5.F| Data period | Assets under management | Employees | Filing dated |
|---|---|---|---|
| October 2026 | $4,650,566,101 | 9 | May 7, 2026 |
| October 2025 | $4,525,460,773 | 10 | March 6, 2025 |
| October 2024 | $3,797,719,931 | 10 | March 7, 2024 |
| October 2023 | $3,626,745,624 | 10 | July 17, 2023 |
| October 2022 | $4,009,666,146 | 10 | February 15, 2022 |
| October 2021 | $4,001,533,347 | 9 | September 21, 2021 |
Regulatory assets under management: $4,001,533,347 in the October 2021 data and $4,650,566,101 in the October 2026 data, up 16%.
Total employees: 9 in October 2021 and 9 in October 2026.
As filed in each year's data for the same month. Assets under management move with markets as well as with clients coming and going; they measure scale, not skill or returns. Most firms update these figures once a year.
Changes in the filing
Last 12 monthsNo changes to these filed facts in the last 12 months of filing data.
Compared month to month from the SEC's monthly adviser data and the state compilation feed. Owners and control persons are summarized, never named.
Websites listed on Form ADV
Item 1.ISource: Form ADV, as of October 2026. Values appear as filed; a value the firm did not report is shown as "Not reported."
Cite this page
AdvisorCensus. Clearwater Advisors, LLC (CRD 116865): Form ADV filing data as of October 2026. https://advisorcensus.com/firm/clearwater-advisors-llc-boise-id-116865