# Conrad Siegel Investment Advisors

> Conrad Siegel Investment Advisors is an SEC-registered investment advisory firm in Harrisburg, PA, registered since 2003, reporting over $5 billion in regulatory assets under management in its Form ADV filing dated September 4, 2026.

- CRD: 123560
- Filed as: CONRAD SIEGEL INVESTMENT ADVISORS
- Legal name: Conrad Siegel Investment Advisors, Inc.
- Also doing business as: CMS INVESTMENT ADVISORS, INC.
- Registration: SEC-registered investment adviser (status as filed: Approved)
- Location: Harrisburg, PA
- Filing period: October 2026
- Form ADV filing dated: September 4, 2026
- SEC record (IAPD): https://adviserinfo.sec.gov/firm/summary/123560
- AdvisorCensus page: https://advisorcensus.com/firm/conrad-siegel-investment-advisors-harrisburg-pa-123560

## Quick answers

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

**How much does Conrad Siegel Investment Advisors charge?**
Its Form ADV Part 2A brochure dated September 25, 2025 states: Flat fee: $1,000 to $100,000 (financial planning, consulting, educational and fiduciary oversight…); Hourly rate: $100 to $415 an hour (financial planning, consulting, educational and fiduciary oversight…); Flat fee: $500 (one-time financial planning services offered to retirement plan…). Fees can differ by service and may be negotiable; the brochure is the complete statement.

**Where is Conrad Siegel Investment Advisors located?**
Conrad Siegel Investment Advisors' principal office is in Harrisburg, PA, according to its Form ADV; the October 2026 filing also lists 2 other offices (Schedule D, Section 1.F).

**Is Conrad Siegel Investment Advisors registered with the SEC or a state?**
Conrad Siegel Investment Advisors is an SEC-registered investment advisory firm, registered since 2003. Status as filed: Approved. CRD 123560.

**How much does Conrad Siegel Investment Advisors manage?**
Conrad Siegel Investment Advisors reports $12,129,385,082 in regulatory assets under management in its Form ADV filing dated September 4, 2026 (34% discretionary).

**How have Conrad Siegel Investment Advisors' assets and staff changed since 2021?**
In the Form ADV data for Conrad Siegel Investment Advisors: Regulatory assets under management: $7,888,019,145 in the October 2021 data and $12,129,385,082 in the October 2026 data, up 54%. Total employees: 25 in October 2021 and 29 in October 2026. Assets under management move with markets as well as with clients coming and going.

**What types of clients does Conrad Siegel Investment Advisors serve?**
By number of clients on Form ADV Item 5.D: individuals (other than high net worth individuals) (225); high net worth individuals (170); pension and profit sharing plans (but not the plan participants or government pension plans) (88).

**Which custodians does Conrad Siegel Investment Advisors use?**
Conrad Siegel Investment Advisors' most recent Form ADV filing (Schedule D, Section 5.K(3)) lists Charles Schwab & Co., Inc., Empower Advisory Group and TIAA-CREF as custodians holding 10% or more of its separately managed account assets.

**Does Conrad Siegel Investment Advisors 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/123560

**What changed in Conrad Siegel Investment Advisors' recent Form ADV filings?**
In the October 2026 filing data: Employees performing advisory functions went from 22 to 23. Regulatory assets under management went from $10,118,593,493 to $12,129,385,082 (+20%). Updated its list of owners and control persons (Schedule A).

## From the Form ADV filing

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

### Fees and minimums (Form ADV Part 2A brochure dated September 25, 2025)

- Flat fee: $1,000 to $100,000 (financial planning, consulting, educational and fiduciary oversight…)

> These fees are negotiable, but generally range from $1,000 to $100,000 on a fixed fee basis and/or from $100 to $415 on an hourly rate basis, depending upon the level and scope of the services and the professional rendering the services.

- Hourly rate: $100 to $415 an hour (financial planning, consulting, educational and fiduciary oversight…)

> These fees are negotiable, but generally range from $1,000 to $100,000 on a fixed fee basis and/or from $100 to $415 on an hourly rate basis, depending upon the level and scope of the services and the professional rendering the services.

- Flat fee: $500 (one-time financial planning services offered to retirement plan…)

> A fee of $ 500 is generally charged for one-time financial planning services offered to retirement plan participants.

As stated in the firm's brochure. Fees can differ by service and may be negotiable.

### Custodians (Schedule D, Section 5.K(3))
- Charles Schwab & Co., Inc.
- Empower Advisory Group
- TIAA-CREF

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: $12,129,385,082
- Discretionary: $4,136,280,725
- Non-discretionary: $7,993,104,357

### Clients (Item 5.D)

| Client type | Clients | Assets |
| --- | --- | --- |
| Individuals (other than high net worth individuals) | 225 | $177,998,273 |
| High net worth individuals | 170 | $773,238,361 |
| Banking or thrift institutions | 0 | $0 |
| Investment companies | 0 | $0 |
| Business development companies | 0 | $0 |
| Pooled investment vehicles (other than investment companies and business development companies) | 0 | $0 |
| Pension and profit sharing plans (but not the plan participants or government pension plans) | 88 | $10,084,858,156 |
| Charitable organizations | 18 | $390,920,753 |
| State or municipal government entities (including government pension plans) | 63 | $563,213,229 |
| Other investment advisers | 0 | $0 |
| Insurance companies | 2 | $55,332,057 |
| Sovereign wealth funds and foreign official institutions | 0 | $0 |
| Corporations or other businesses not listed above | 4 | $83,824,253 |
| Other | 0 | $0 |

### Advisory services (Item 5.G)
- Financial planning services
- Portfolio management for individuals and/or small businesses
- Portfolio management for businesses (other than small businesses) or institutional clients
- Other

### Firm details
- Registered since: 2003 (22 years)
- Employees: 29 total, 23 performing advisory functions
- Wrap fee program participation: No
- States registered or notice-filed: CA, FL, GA, LA, MD, NJ, NY, PA, TX, VA
- Disclosures (Item 11): Reports no disclosure items on Form ADV Item 11.

### Other offices (Schedule D, Section 1.F), as of the October 2026 filing
- Lancaster, PA
- Naples, FL

### Websites listed on Form ADV (Item 1.I)
- [centralpa401k.com](https://centralpa401k.com)
- [cmsbenefits.com](https://cmsbenefits.com)
- [conradsiegel.co](https://conradsiegel.co)
- [conradsiegel.com](https://conradsiegel.com)
- [conradsiegelactuaries.com](https://conradsiegelactuaries.com)
- [conradsiegeladvisors.com](https://conradsiegeladvisors.com)
- [conradsiegelinvestmentadvisors.com](https://conradsiegelinvestmentadvisors.com)
- [investcsia.com](https://investcsia.com)
- [myconradsiegel.com](https://myconradsiegel.com)
- Facebook @CONRADSIEGEL
- LinkedIn @CONRAD-SIEGEL
- X @CONRADSIEGELACT
- YouTube @ConradSiegel

## Assets and staff over time

| Data period | Regulatory assets under management | Employees | Filing dated |
| --- | --- | --- | --- |
| October 2021 | $7,888,019,145 | 25 | September 22, 2021 |
| October 2022 | $6,987,640,642 | 26 | September 28, 2022 |
| October 2023 | $7,774,909,225 | 22 | September 25, 2023 |
| October 2024 | $9,036,304,927 | 23 | September 25, 2024 |
| October 2025 | $9,036,304,927 | 23 | September 25, 2024 |
| October 2026 | $12,129,385,082 | 29 | September 4, 2026 |

Regulatory assets under management: $7,888,019,145 in the October 2021 data and $12,129,385,082 in the October 2026 data, up 54%.
Total employees: 25 in October 2021 and 29 in October 2026.

## Changes in the filing (last 12 months)

### October 2026
- Employees performing advisory functions went from 22 to 23.
- Regulatory assets under management went from $10,118,593,493 to $12,129,385,082 (+20%).
- Updated its list of owners and control persons (Schedule A).

### December 2025
- Regulatory assets under management went from $9,036,304,927 to $10,118,593,493 (+12%).

## Source

Form ADV as filed, October 2026. Values appear as filed. Cite as: AdvisorCensus. Conrad Siegel Investment Advisors (CRD 123560): Form ADV filing data as of October 2026.