{
  "crd_number": 13162,
  "slug": "dunham-san-diego-ca-13162",
  "primary_business_name": "DUNHAM",
  "legal_name": "DUNHAM & ASSOCIATES INVESTMENT COUNSEL, INC.",
  "dbas": [
    "DUNHAM"
  ],
  "city": "San Diego",
  "state": "CA",
  "country": "United States",
  "cbsa_code": "41740",
  "metro": {
    "cbsa_code": "41740",
    "common_name": "San Diego",
    "msa_name": "San Diego-Chula Vista-Carlsbad, CA",
    "path": "/advisors/ca/san-diego"
  },
  "registration_type": "sec",
  "registration_status": "Approved",
  "registration_date": "1985-11-29",
  "years_registered": 40,
  "period": "2026-10-01",
  "filing_date": "2026-07-15",
  "carried_forward": false,
  "raum_total": 5627638262.0,
  "raum_discretionary": 4739354000.0,
  "raum_non_discretionary": 888284262.0,
  "raum_band": "over_5b",
  "raum_band_label": "Over $5 billion",
  "total_employees": 43,
  "advisory_employees": 9,
  "client_count_bucket": "fewer_than_5_in_some_types",
  "clients_by_type": {
    "other": {
      "raum": 0.0,
      "count": 0
    },
    "charitable": {
      "raum": 38540927.0,
      "count": 149
    },
    "individuals": {
      "raum": 1971840525.0,
      "count": 10820
    },
    "banking_thrift": {
      "raum": 0.0,
      "count": 0,
      "fewer_than_5": true
    },
    "state_municipal": {
      "raum": 0.0,
      "count": 0,
      "fewer_than_5": true
    },
    "insurance_companies": {
      "raum": 0.0,
      "count": 0,
      "fewer_than_5": true
    },
    "investment_companies": {
      "raum": 335678844.0,
      "count": 15
    },
    "pension_profit_sharing": {
      "raum": 25923959.0,
      "count": 45
    },
    "other_investment_advisers": {
      "raum": 0.0,
      "count": 0,
      "fewer_than_5": true
    },
    "high_net_worth_individuals": {
      "raum": 3155958769.0,
      "count": 1954
    },
    "pooled_investment_vehicles": {
      "raum": 0.0,
      "count": 0
    },
    "corporations_other_businesses": {
      "raum": 99695238.0,
      "count": 172
    },
    "business_development_companies": {
      "raum": 0.0,
      "count": 0
    },
    "sovereign_wealth_foreign_official": {
      "raum": 0.0,
      "count": 0,
      "fewer_than_5": true
    }
  },
  "compensation_types": [
    "fixed",
    "percentage_of_aum",
    "performance_based"
  ],
  "advisory_activities": [
    "financial_planning",
    "other",
    "portfolio_management_businesses_institutional",
    "portfolio_management_individuals",
    "portfolio_management_investment_companies",
    "portfolio_management_pooled_vehicles",
    "selection_of_other_advisers"
  ],
  "wrap_fee_participant": true,
  "disclosure_yes_count": 0,
  "states_registered": [
    "AZ",
    "CA",
    "CO",
    "CT",
    "FL",
    "NJ",
    "NV",
    "NY",
    "OR",
    "TX",
    "UT",
    "VA",
    "WA",
    "WY"
  ],
  "websites": [
    "https://dunham.com",
    "https://instagram.com/dunhaminsights",
    "https://landing.dunham.com/dab2026",
    "https://landing.dunham.com/wotgr",
    "https://linkedin.com/in/dunham-associates-352864285",
    "https://youtube.com/@dunham745"
  ],
  "iapd_url": "https://adviserinfo.sec.gov/firm/summary/13162",
  "city_as_filed": "SAN DIEGO",
  "url": "https://advisorcensus.com/firm/dunham-san-diego-ca-13162",
  "display_name": "Dunham",
  "summary": "Dunham is an SEC-registered investment advisory firm in San Diego, CA, registered since 1985, reporting over $5 billion in regulatory assets under management in its Form ADV filing dated July 15, 2026.",
  "citation": "AdvisorCensus. Dunham (CRD 13162): Form ADV filing data as of October 2026.",
  "registration_type_label": "SEC-registered investment adviser",
  "compensation_labels": [
    "A percentage of assets under your management",
    "Fixed fees (other than subscription fees)",
    "Performance-based fees"
  ],
  "advisory_activity_labels": [
    "Financial planning services",
    "Portfolio management for individuals and/or small businesses",
    "Portfolio management for investment companies (and business development companies)",
    "Portfolio management for pooled investment vehicles (other than investment companies)",
    "Portfolio management for businesses (other than small businesses) or institutional clients",
    "Selection of other advisers (including private fund managers)",
    "Other"
  ],
  "quick_answers": [
    {
      "q": "How is Dunham compensated?",
      "a": "On its Form ADV (Item 5.E, October 2026), Dunham reports these compensation arrangements: a percentage of assets under its management; fixed fees (other than subscription fees); performance-based fees."
    },
    {
      "q": "Where is Dunham located?",
      "a": "Dunham's principal office is in San Diego, CA, according to its Form ADV; the August 2026 filing also lists 1 other office (Schedule D, Section 1.F)."
    },
    {
      "q": "Is Dunham registered with the SEC or a state?",
      "a": "Dunham is an SEC-registered investment advisory firm, registered since 1985. Status as filed: Approved. CRD 13162."
    },
    {
      "q": "How much does Dunham manage?",
      "a": "Dunham reports $5,627,638,262 in regulatory assets under management in its Form ADV filing dated July 15, 2026 (84% discretionary)."
    },
    {
      "q": "How have Dunham's assets and staff changed since 2021?",
      "a": "In the Form ADV data for Dunham: Regulatory assets under management: $2,152,591,097 in the October 2021 data and $5,627,638,262 in the October 2026 data, up 161%. Total employees: 29 in October 2021 and 43 in October 2026. Assets under management move with markets as well as with clients coming and going."
    },
    {
      "q": "What types of clients does Dunham serve?",
      "a": "By number of clients on Form ADV Item 5.D: individuals (other than high net worth individuals) (10,820); high net worth individuals (1,954); corporations or other businesses not listed above (172)."
    },
    {
      "q": "Which custodians does Dunham use?",
      "a": "Dunham's most recent Form ADV filing (Schedule D, Section 5.K(3)) lists Fifth Third Bank as a custodian holding 10% or more of its separately managed account assets."
    },
    {
      "q": "Does Dunham report any disciplinary disclosures?",
      "a": "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/13162"
    },
    {
      "q": "What changed in Dunham's recent Form ADV filings?",
      "a": "In the May 2026 filing data: Changed its office addresses in Reno, NV."
    }
  ],
  "filing_history": [
    {
      "period": "2021-10-01",
      "regulatory_assets_under_management": 2152591097.0,
      "total_employees": 29,
      "filing_date": "2021-03-30"
    },
    {
      "period": "2022-10-01",
      "regulatory_assets_under_management": 3043067911.0,
      "total_employees": 29,
      "filing_date": "2022-09-30"
    },
    {
      "period": "2023-10-01",
      "regulatory_assets_under_management": 2901635752.0,
      "total_employees": 33,
      "filing_date": "2023-10-01"
    },
    {
      "period": "2024-10-01",
      "regulatory_assets_under_management": 3763899427.0,
      "total_employees": 34,
      "filing_date": "2024-09-30"
    },
    {
      "period": "2025-10-01",
      "regulatory_assets_under_management": 4737607372.0,
      "total_employees": 39,
      "filing_date": "2025-04-23"
    },
    {
      "period": "2026-10-01",
      "regulatory_assets_under_management": 5627638262.0,
      "total_employees": 43,
      "filing_date": "2026-07-15"
    }
  ],
  "recent_changes": [
    {
      "period": "2026-05-01",
      "period_label": "May 2026",
      "notes": [
        "Changed its office addresses in Reno, NV."
      ]
    },
    {
      "period": "2026-04-01",
      "period_label": "April 2026",
      "notes": [
        "Regulatory assets under management went from $4,737,607,372 to $5,627,638,262 (+19%).",
        "Registered or notice-filed in OR, UT, WA, WY."
      ]
    },
    {
      "period": "2026-03-01",
      "period_label": "March 2026",
      "notes": [
        "Changed its office addresses in Reno, NV."
      ]
    },
    {
      "period": "2025-12-01",
      "period_label": "December 2025",
      "notes": [
        "Updated its list of owners and control persons (Schedule A)."
      ]
    },
    {
      "period": "2025-11-01",
      "period_label": "November 2025",
      "notes": [
        "Added the business name Dunham.",
        "Updated its list of owners and control persons (Schedule A)."
      ]
    }
  ],
  "fees_from_brochure": null,
  "custodians": [
    {
      "name": "Fifth Third Bank",
      "name_as_filed": "FIFTH THIRD BANK",
      "affiliated": false
    }
  ],
  "custodians_note": "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.",
  "markdown_url": "https://advisorcensus.com/firm/dunham-san-diego-ca-13162.md",
  "clients": [
    {
      "type": "individuals",
      "label": "Individuals (other than high net worth individuals)",
      "count": 10820,
      "fewer_than_5": false,
      "raum": 1971840525.0
    },
    {
      "type": "high_net_worth_individuals",
      "label": "High net worth individuals",
      "count": 1954,
      "fewer_than_5": false,
      "raum": 3155958769.0
    },
    {
      "type": "banking_thrift",
      "label": "Banking or thrift institutions",
      "count": 0,
      "fewer_than_5": true,
      "raum": 0.0
    },
    {
      "type": "investment_companies",
      "label": "Investment companies",
      "count": 15,
      "fewer_than_5": false,
      "raum": 335678844.0
    },
    {
      "type": "business_development_companies",
      "label": "Business development companies",
      "count": 0,
      "fewer_than_5": false,
      "raum": 0.0
    },
    {
      "type": "pooled_investment_vehicles",
      "label": "Pooled investment vehicles (other than investment companies and business development companies)",
      "count": 0,
      "fewer_than_5": false,
      "raum": 0.0
    },
    {
      "type": "pension_profit_sharing",
      "label": "Pension and profit sharing plans (but not the plan participants or government pension plans)",
      "count": 45,
      "fewer_than_5": false,
      "raum": 25923959.0
    },
    {
      "type": "charitable",
      "label": "Charitable organizations",
      "count": 149,
      "fewer_than_5": false,
      "raum": 38540927.0
    },
    {
      "type": "state_municipal",
      "label": "State or municipal government entities (including government pension plans)",
      "count": 0,
      "fewer_than_5": true,
      "raum": 0.0
    },
    {
      "type": "other_investment_advisers",
      "label": "Other investment advisers",
      "count": 0,
      "fewer_than_5": true,
      "raum": 0.0
    },
    {
      "type": "insurance_companies",
      "label": "Insurance companies",
      "count": 0,
      "fewer_than_5": true,
      "raum": 0.0
    },
    {
      "type": "sovereign_wealth_foreign_official",
      "label": "Sovereign wealth funds and foreign official institutions",
      "count": 0,
      "fewer_than_5": true,
      "raum": 0.0
    },
    {
      "type": "corporations_other_businesses",
      "label": "Corporations or other businesses not listed above",
      "count": 172,
      "fewer_than_5": false,
      "raum": 99695238.0
    },
    {
      "type": "other",
      "label": "Other",
      "count": 0,
      "fewer_than_5": false,
      "raum": 0.0
    }
  ],
  "disclosure_line": "Reports no disclosure items on Form ADV Item 11.",
  "disclosure_items": [],
  "indexable": true,
  "suppressed": false,
  "claimed": false,
  "enhanced": false,
  "provided_by_the_firm": null,
  "source": {
    "name": "Form ADV",
    "as_of": "2026-10-01",
    "iapd_url": "https://adviserinfo.sec.gov/firm/summary/13162",
    "operator": "BH Monitor Services, LLC",
    "license": "https://creativecommons.org/licenses/by/4.0/",
    "credit": "AdvisorCensus (advisorcensus.com), from SEC Form ADV data"
  }
}