# Empirical Wealth Management

> Empirical Wealth Management is an SEC-registered investment advisory firm in Seattle, WA, registered since 2011, reporting over $5 billion in regulatory assets under management in its Form ADV filing dated July 29, 2026.

- CRD: 152622
- Filed as: EMPIRICAL WEALTH MANAGEMENT
- Legal name: Empirical Financial Services, LLC
- Registration: SEC-registered investment adviser (status as filed: Approved)
- Location: Seattle, WA
- Filing period: October 2026
- Form ADV filing dated: July 29, 2026
- SEC record (IAPD): https://adviserinfo.sec.gov/firm/summary/152622
- AdvisorCensus page: https://advisorcensus.com/firm/empirical-wealth-management-seattle-wa-152622

## Quick answers

**How is Empirical Wealth Management compensated?**
On its Form ADV (Item 5.E, October 2026), Empirical Wealth Management reports these compensation arrangements: a percentage of assets under its management; hourly charges; fixed fees (other than subscription fees); performance-based fees. The amounts are in Item 5 of its Form ADV Part 2A brochure.

**Where is Empirical Wealth Management located?**
Empirical Wealth Management's principal office is in Seattle, WA, according to its Form ADV; the August 2026 filing also lists 17 other offices (Schedule D, Section 1.F).

**Is Empirical Wealth Management registered with the SEC or a state?**
Empirical Wealth Management is an SEC-registered investment advisory firm, registered since 2011. Status as filed: Approved. CRD 152622.

**How much does Empirical Wealth Management manage?**
Empirical Wealth Management reports $8,428,968,273 in regulatory assets under management in its Form ADV filing dated July 29, 2026 (100% discretionary).

**How have Empirical Wealth Management's assets and staff changed since 2021?**
In the Form ADV data for Empirical Wealth Management: Regulatory assets under management: $3,045,728,540 in the October 2021 data and $8,428,968,273 in the October 2026 data, up 177%. Total employees: 42 in October 2021 and 94 in October 2026. Assets under management move with markets as well as with clients coming and going.

**What types of clients does Empirical Wealth Management serve?**
By number of clients on Form ADV Item 5.D: high net worth individuals (1,839); individuals (other than high net worth individuals) (555); charitable organizations (5).

**Which custodians does Empirical Wealth Management use?**
Empirical Wealth Management'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 Empirical Wealth Management 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/152622

**What changed in Empirical Wealth Management's recent Form ADV filings?**
In the July 2026 filing data: Registered or notice-filed in AL, IA, MS, ND, NE, OK, RI, SD, VT, WV.

## From the Form ADV filing

### Compensation (Item 5.E)
- A percentage of assets under your management
- Hourly charges
- Fixed fees (other than subscription fees)
- Performance-based 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: $8,428,968,273
- Discretionary: $8,425,771,219
- Non-discretionary: $3,197,054

### Clients (Item 5.D)

| Client type | Clients | Assets |
| --- | --- | --- |
| Individuals (other than high net worth individuals) | 555 | $267,658,747 |
| High net worth individuals | 1,839 | $7,984,674,625 |
| Pooled investment vehicles (other than investment companies and business development companies) | 1 | $16,387,744 |
| Charitable organizations | 5 | $19,524,652 |
| Corporations or other businesses not listed above | Fewer than 5 | $140,722,505 |

### Advisory services (Item 5.G)
- Financial planning services
- Portfolio management for individuals and/or small businesses
- Portfolio management for pooled investment vehicles (other than investment companies)
- Portfolio management for businesses (other than small businesses) or institutional clients
- Pension consulting services
- Selection of other advisers (including private fund managers)
- Other

### Firm details
- Registered since: 2011 (15 years)
- Employees: 94 total, 57 performing advisory functions
- Wrap fee program participation: Yes
- States registered or notice-filed: AK, AL, AR, AZ, CA, CO, CT, DC, DE, FL, GA, HI, IA, ID, IL, IN, KS, KY, LA, MA, MD, ME, MI, MN, MO, MS, MT, NC, ND, NE, NH, NJ, NM, NV, NY, OH, OK, OR, PA, RI, SC, SD, TN, TX, UT, VA, VT, WA, WI, WV, WY
- Disclosures (Item 11): Reports no disclosure items on Form ADV Item 11.

### Other offices (Schedule D, Section 1.F), as of the August 2026 filing
- Anchorage, AK
- Austin, TX
- Bellevue, WA
- Cottonwood Heights, UT
- Fort Worth, TX
- Honolulu, HI
- Irvine, CA
- Los Angeles, CA
- Los Gatos, CA
- Mission Viejo, CA
- Newport Beach, CA
- Portland, OR
- Reno, NV
- San Francisco, CA
- San Mateo, CA
- Vancouver, WA
- Walnut Creek, CA

### Websites listed on Form ADV (Item 1.I)
- empirical.net
- Facebook @empiricalwealth
- Instagram @empiricalwm
- LinkedIn @empirical-wealth-management
- X @EMPIRICALWM
- YouTube @EmpiricalWealthManagement

## Assets and staff over time

| Data period | Regulatory assets under management | Employees | Filing dated |
| --- | --- | --- | --- |
| October 2021 | $3,045,728,540 | 42 | July 28, 2021 |
| October 2022 | $4,166,875,809 | 50 | July 7, 2022 |
| October 2023 | $4,178,934,091 | 65 | August 23, 2023 |
| October 2024 | $5,525,184,211 | 78 | March 28, 2024 |
| October 2025 | $6,701,226,120 | 94 | July 1, 2025 |
| October 2026 | $8,428,968,273 | 94 | July 29, 2026 |

Regulatory assets under management: $3,045,728,540 in the October 2021 data and $8,428,968,273 in the October 2026 data, up 177%.
Total employees: 42 in October 2021 and 94 in October 2026.

## Changes in the filing (last 12 months)

### July 2026
- Registered or notice-filed in AL, IA, MS, ND, NE, OK, RI, SD, VT, WV.

### April 2026
- Employees performing advisory functions went from 53 to 57.
- Regulatory assets under management went from $6,701,226,120 to $8,428,968,273 (+26%).
- Changed its office addresses in San Francisco, CA.
- Changed its office addresses in Walnut Creek, CA.
- Added an office in Cottonwood Heights, UT.
- Added an office in Honolulu, HI.
- Added an office in Mission Viejo, CA.

### January 2026
- Registered or notice-filed in TN.

### December 2025
- Updated its list of owners and control persons (Schedule A).

## Source

Form ADV as filed, October 2026. Values appear as filed. Cite as: AdvisorCensus. Empirical Wealth Management (CRD 152622): Form ADV filing data as of October 2026.