# Dover Investment Advisory Corporation

> Dover Investment Advisory Corporation is an SEC-registered investment advisory firm, registered since 2018, reporting $100 million to $500 million in regulatory assets under management in its Form ADV filing dated November 12, 2025.

- CRD: 123499
- Filed as: DOVER INVESTMENT ADVISORY CORPORATION
- Registration: SEC-registered investment adviser (status as filed: Approved)
- Filing period: October 2026
- Form ADV filing dated: November 12, 2025
- SEC record (IAPD): https://adviserinfo.sec.gov/firm/summary/123499
- AdvisorCensus page: https://advisorcensus.com/firm/dover-investment-advisory-corporation-123499

## Quick answers

**How is Dover Investment Advisory Corporation compensated?**
On its Form ADV (Item 5.E, October 2026), Dover Investment Advisory Corporation reports these compensation arrangements: a percentage of assets under its management.

**How much does Dover Investment Advisory Corporation charge?**
Its Form ADV Part 2A brochure dated November 12, 2025 states: Up to $3,000,000: 0.5% a year; $3,000,000 to $5,000,000: 0.375% a year; Above $5,000,000: 0.25% a year. Fees can differ by service and may be negotiable; the brochure is the complete statement.

**Is Dover Investment Advisory Corporation registered with the SEC or a state?**
Dover Investment Advisory Corporation is an SEC-registered investment advisory firm, registered since 2018. Status as filed: Approved. CRD 123499.

**How much does Dover Investment Advisory Corporation manage?**
Dover Investment Advisory Corporation reports $135,408,889 in regulatory assets under management in its Form ADV filing dated November 12, 2025 (100% discretionary).

**How have Dover Investment Advisory Corporation's assets and staff changed since 2021?**
In the Form ADV data for Dover Investment Advisory Corporation: Regulatory assets under management: $103,181,354 in the October 2021 data and $135,408,889 in the October 2026 data, up 31%. Total employees: 1 in October 2021 and 1 in October 2026. Assets under management move with markets as well as with clients coming and going.

**What types of clients does Dover Investment Advisory Corporation serve?**
By number of clients on Form ADV Item 5.D: high net worth individuals (30); individuals (other than high net worth individuals) (15).

**Which custodians does Dover Investment Advisory Corporation use?**
Dover Investment Advisory Corporation's most recent Form ADV filing (Schedule D, Section 5.K(3)) lists National Financial Services LLC as a custodian holding 10% or more of its separately managed account assets.

**Does Dover Investment Advisory Corporation 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/123499

## From the Form ADV filing

### Compensation (Item 5.E)
- A percentage of assets under your management

### Fees and minimums (Form ADV Part 2A brochure dated November 12, 2025)

- Up to $3,000,000: 0.5% a year
- $3,000,000 to $5,000,000: 0.375% a year
- Above $5,000,000: 0.25% a year

> 0.50% on the first $3 million in assets under management 0.375% on the assets under management over $3 million, but less than $5 million 0.25% on all assets under management over $5 million

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

### Custodians (Schedule D, Section 5.K(3))
- National Financial Services LLC

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: $135,408,889
- Discretionary: $135,408,889
- Non-discretionary: $0

### Clients (Item 5.D)

| Client type | Clients | Assets |
| --- | --- | --- |
| Individuals (other than high net worth individuals) | 15 | $5,189,474 |
| High net worth individuals | 30 | $130,219,415 |
| 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) | 0 | $0 |
| Charitable organizations | 0 | $0 |
| State or municipal government entities (including government pension plans) | 0 | $0 |
| Other investment advisers | 0 | $0 |
| Insurance companies | 0 | $0 |
| Sovereign wealth funds and foreign official institutions | 0 | $0 |
| Corporations or other businesses not listed above | 0 | $0 |
| Other | 0 | $0 |

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

### Firm details
- Registered since: 2018 (7 years)
- Employees: 1 total, 1 performing advisory functions
- Wrap fee program participation: No
- States registered or notice-filed: MA
- Disclosures (Item 11): Reports no disclosure items on Form ADV Item 11.

### Websites listed on Form ADV (Item 1.I)
- doverinvestmentadvisory.com

## Assets and staff over time

| Data period | Regulatory assets under management | Employees | Filing dated |
| --- | --- | --- | --- |
| October 2021 | $103,181,354 | 1 | November 5, 2020 |
| October 2022 | $125,659,706 | 1 | November 16, 2021 |
| October 2023 | $109,959,279 | 1 | August 30, 2023 |
| October 2024 | $112,341,101 | 1 | November 13, 2023 |
| October 2025 | $126,880,907 | 1 | November 26, 2024 |
| October 2026 | $135,408,889 | 1 | November 12, 2025 |

Regulatory assets under management: $103,181,354 in the October 2021 data and $135,408,889 in the October 2026 data, up 31%.
Total employees: 1 in October 2021 and 1 in October 2026.

## Source

Form ADV as filed, October 2026. Values appear as filed. Cite as: AdvisorCensus. Dover Investment Advisory Corporation (CRD 123499): Form ADV filing data as of October 2026.