# David Wendell Associates, Inc.

> David Wendell Associates, Inc. is an SEC-registered investment advisory firm in Portsmouth, NH, registered since 1994, reporting $1 billion to $5 billion in regulatory assets under management in its Form ADV filing dated March 19, 2026.

- CRD: 106664
- Filed as: DAVID WENDELL ASSOCIATES, INC.
- Legal name: Wendell David Associates Inc
- Registration: SEC-registered investment adviser (status as filed: Approved)
- Location: Portsmouth, NH
- Filing period: October 2026
- Form ADV filing dated: March 19, 2026
- SEC record (IAPD): https://adviserinfo.sec.gov/firm/summary/106664
- AdvisorCensus page: https://advisorcensus.com/firm/david-wendell-associates-inc-portsmouth-nh-106664

## Quick answers

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

**Where is David Wendell Associates, Inc. located?**
David Wendell Associates, Inc.'s principal office is in Portsmouth, NH, according to its Form ADV.

**Is David Wendell Associates, Inc. registered with the SEC or a state?**
David Wendell Associates, Inc. is an SEC-registered investment advisory firm, registered since 1994. Status as filed: Approved. CRD 106664.

**How much does David Wendell Associates, Inc. manage?**
David Wendell Associates, Inc. reports $1,330,258,000 in regulatory assets under management in its Form ADV filing dated March 19, 2026 (86% discretionary).

**How have David Wendell Associates, Inc.'s assets and staff changed since 2021?**
In the Form ADV data for David Wendell Associates, Inc.: Regulatory assets under management: $1,075,611,000 in the October 2021 data and $1,330,258,000 in the October 2026 data, up 24%. Total employees: 6 in October 2021 and 5 in October 2026. Assets under management move with markets as well as with clients coming and going.

**What types of clients does David Wendell Associates, Inc. serve?**
By number of clients on Form ADV Item 5.D: individuals (other than high net worth individuals) (234); high net worth individuals (208); charitable organizations (17).

**Which custodians does David Wendell Associates, Inc. use?**
David Wendell Associates, Inc.'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.

**Does David Wendell Associates, Inc. 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/106664

**Does David Wendell Associates, Inc. state an account minimum?**
Its Form ADV Part 2A brochure dated March 19, 2026 says: "Our minimum portfolio size is $500,000. However, under certain circumstances, such as referrals, a family of portfolios or other special situations, our minimum portfolio size is negotiable."

**What changed in David Wendell Associates, Inc.'s recent Form ADV filings?**
In the April 2026 filing data: 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
- Fixed fees (other than subscription fees)

### Fees and minimums (Form ADV Part 2A brochure dated March 19, 2026)

- Account minimum: $500,000 (the brochure says it may be waived or negotiated)

> Our minimum portfolio size is $500,000. However, under certain circumstances, such as referrals, a family of portfolios or other special situations, our minimum portfolio size is negotiable.

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.

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: $1,330,258,000
- Discretionary: $1,142,076,000
- Non-discretionary: $188,182,000

### Clients (Item 5.D)

| Client type | Clients | Assets |
| --- | --- | --- |
| Individuals (other than high net worth individuals) | 234 | $89,538,000 |
| High net worth individuals | 208 | $988,189,000 |
| Banking or thrift institutions | Fewer than 5 | $41,596,000 |
| Pension and profit sharing plans (but not the plan participants or government pension plans) | Fewer than 5 | $88,185,000 |
| Charitable organizations | 17 | $121,970,000 |
| Corporations or other businesses not listed above | Fewer than 5 | $780,000 |
| Other | Fewer than 5 | $0 |

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

### Firm details
- Registered since: 1994 (32 years)
- Employees: 5 total, 5 performing advisory functions
- Wrap fee program participation: No
- States registered or notice-filed: CA, CO, FL, IL, KY, MA, MD, ME, MI, MO, NH, NY, OH, PA, TX, VA
- Disclosures (Item 11): Reports no disclosure items on Form ADV Item 11.

### Websites listed on Form ADV (Item 1.I)
- [davidwendell.com](https://davidwendell.com)

## Assets and staff over time

| Data period | Regulatory assets under management | Employees | Filing dated |
| --- | --- | --- | --- |
| October 2021 | $1,075,611,000 | 6 | March 24, 2021 |
| October 2022 | $1,279,596,000 | 6 | July 19, 2022 |
| October 2023 | $1,100,371,000 | 5 | September 21, 2023 |
| October 2024 | $1,270,956,000 | 5 | September 16, 2024 |
| October 2025 | $1,344,946,000 | 6 | March 25, 2025 |
| October 2026 | $1,330,258,000 | 5 | March 19, 2026 |

Regulatory assets under management: $1,075,611,000 in the October 2021 data and $1,330,258,000 in the October 2026 data, up 24%.
Total employees: 6 in October 2021 and 5 in October 2026.

## Changes in the filing (last 12 months)

### April 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. David Wendell Associates, Inc. (CRD 106664): Form ADV filing data as of October 2026.