# Dougherty & Associates Financial Advisors, Inc.

> Dougherty & Associates Financial Advisors, Inc. is an SEC-registered investment advisory firm in Buffalo, MN, registered since 2015, reporting $100 million to $500 million in regulatory assets under management in its Form ADV filing dated February 25, 2026.

- CRD: 165145
- Filed as: DOUGHERTY & ASSOCIATES FINANCIAL ADVISORS, INC.
- Registration: SEC-registered investment adviser (status as filed: Approved)
- Location: Buffalo, MN
- Filing period: October 2026
- Form ADV filing dated: February 25, 2026
- SEC record (IAPD): https://adviserinfo.sec.gov/firm/summary/165145
- AdvisorCensus page: https://advisorcensus.com/firm/dougherty-and-associates-financial-advisors-inc-buffalo-mn-165145

## Quick answers

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

**Where is Dougherty & Associates Financial Advisors, Inc. located?**
Dougherty & Associates Financial Advisors, Inc.'s principal office is in Buffalo, MN, according to its Form ADV; the March 2026 filing also lists 1 other office (Schedule D, Section 1.F).

**Is Dougherty & Associates Financial Advisors, Inc. registered with the SEC or a state?**
Dougherty & Associates Financial Advisors, Inc. is an SEC-registered investment advisory firm, registered since 2015. Status as filed: Approved. CRD 165145.

**How much does Dougherty & Associates Financial Advisors, Inc. manage?**
Dougherty & Associates Financial Advisors, Inc. reports $382,859,944 in regulatory assets under management in its Form ADV filing dated February 25, 2026 (99% discretionary).

**How have Dougherty & Associates Financial Advisors, Inc.'s assets and staff changed since 2021?**
In the Form ADV data for Dougherty & Associates Financial Advisors, Inc.: Regulatory assets under management: $305,124,464 in the October 2021 data and $382,859,944 in the October 2026 data, up 25%. Total employees: 10 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 Dougherty & Associates Financial Advisors, Inc. serve?**
By number of clients on Form ADV Item 5.D: individuals (other than high net worth individuals) (989); high net worth individuals (80).

**Which custodians does Dougherty & Associates Financial Advisors, Inc. use?**
Dougherty & Associates Financial Advisors, 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 Dougherty & Associates Financial Advisors, 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/165145

**What changed in Dougherty & Associates Financial Advisors, Inc.'s recent Form ADV filings?**
In the January 2026 filing data: No longer registered or notice-filed in AZ.

## From the Form ADV filing

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

### 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: $382,859,944
- Discretionary: $380,557,558
- Non-discretionary: $2,302,386

### Clients (Item 5.D)

| Client type | Clients | Assets |
| --- | --- | --- |
| Individuals (other than high net worth individuals) | 989 | $197,992,395 |
| High net worth individuals | 80 | $184,867,549 |

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

### Firm details
- Registered since: 2015 (11 years)
- Employees: 9 total, 9 performing advisory functions
- Wrap fee program participation: No
- States registered or notice-filed: CA, CO, FL, MN, TX, WI
- Disclosures (Item 11): Reports no disclosure items on Form ADV Item 11.

### Other offices (Schedule D, Section 1.F), as of the March 2026 filing
- St. Paul, MN

### Websites listed on Form ADV (Item 1.I)
- thedough.com
- Facebook @Dougherty & Associates Financial Advisors Inc
- LinkedIn @DOUGHERTY-&-ASSOCIATES-FINANCIAL-ADVISORS-INC
- X @THEDOUGH103

## Assets and staff over time

| Data period | Regulatory assets under management | Employees | Filing dated |
| --- | --- | --- | --- |
| October 2021 | $305,124,464 | 10 | March 9, 2021 |
| October 2022 | $320,325,740 | 9 | March 4, 2022 |
| October 2023 | $277,456,042 | 9 | September 5, 2023 |
| October 2024 | $307,741,086 | 8 | April 18, 2024 |
| October 2025 | $353,886,062 | 9 | March 7, 2025 |
| October 2026 | $382,859,944 | 9 | February 25, 2026 |

Regulatory assets under management: $305,124,464 in the October 2021 data and $382,859,944 in the October 2026 data, up 25%.
Total employees: 10 in October 2021 and 9 in October 2026.

## Changes in the filing (last 12 months)

### January 2026
- No longer registered or notice-filed in AZ.

## Source

Form ADV as filed, October 2026. Values appear as filed. Cite as: AdvisorCensus. Dougherty & Associates Financial Advisors, Inc. (CRD 165145): Form ADV filing data as of October 2026.