# Ethic

> Ethic is an SEC-registered investment advisory firm in New York, NY, registered since 2016, reporting over $5 billion in regulatory assets under management in its Form ADV filing dated August 28, 2026.

- CRD: 282827
- Filed as: ETHIC
- Legal name: Ethic Inc.
- Registration: SEC-registered investment adviser (status as filed: Approved)
- Location: New York, NY
- Filing period: October 2026
- Form ADV filing dated: August 28, 2026
- SEC record (IAPD): https://adviserinfo.sec.gov/firm/summary/282827
- AdvisorCensus page: https://advisorcensus.com/firm/ethic-new-york-ny-282827

## Quick answers

**How is Ethic compensated?**
On its Form ADV (Item 5.E, October 2026), Ethic reports these compensation arrangements: a percentage of assets under its management. The amounts are in Item 5 of its Form ADV Part 2A brochure.

**Where is Ethic located?**
Ethic's principal office is in New York, NY, according to its Form ADV; the May 2025 filing also lists 1 other office (Schedule D, Section 1.F).

**Is Ethic registered with the SEC or a state?**
Ethic is an SEC-registered investment advisory firm, registered since 2016. Status as filed: Approved. CRD 282827.

**How much does Ethic manage?**
Ethic reports $10,120,085,218 in regulatory assets under management in its Form ADV filing dated August 28, 2026 (100% discretionary).

**How have Ethic's assets and staff changed since 2021?**
In the Form ADV data for Ethic: Regulatory assets under management: $702,673,305 in the October 2021 data and $10,120,085,218 in the October 2026 data, up 1340%. Total employees: 32 in October 2021 and 75 in October 2026. Assets under management move with markets as well as with clients coming and going.

**What types of clients does Ethic serve?**
By number of clients on Form ADV Item 5.D: other investment advisers (105); charitable organizations (28); corporations or other businesses not listed above (23).

**Which custodians does Ethic use?**
Ethic's most recent Form ADV filing (Schedule D, Section 5.K(3)) lists BNY Mellon, NA, Charles Schwab & Co., Inc. and Fidelity Brokerage Services LLC as custodians holding 10% or more of its separately managed account assets.

**Does Ethic 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/282827

**What changed in Ethic's recent Form ADV filings?**
In the September 2026 filing data: Employees performing advisory functions went from 10 to 13. Regulatory assets under management went from $7,817,820,532 to $10,120,085,218 (+29%).

## From the Form ADV filing

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

### Custodians (Schedule D, Section 5.K(3))
- BNY Mellon, NA
- Charles Schwab & Co., Inc.
- Fidelity Brokerage 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: $10,120,085,218
- Discretionary: $10,120,085,218
- Non-discretionary: $0

### Clients (Item 5.D)

| Client type | Clients | Assets |
| --- | --- | --- |
| Individuals (other than high net worth individuals) | 18 | $64,312,437 |
| High net worth individuals | 15 | $263,990,097 |
| 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 | 28 | $1,065,456,997 |
| State or municipal government entities (including government pension plans) | 0 | $0 |
| Other investment advisers | 105 | $6,473,846,796 |
| Insurance companies | Fewer than 5 | $276,535,788 |
| Sovereign wealth funds and foreign official institutions | 0 | $0 |
| Corporations or other businesses not listed above | 23 | $1,975,943,103 |
| Other | 0 | $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
- Educational seminars/workshops

### Firm details
- Registered since: 2016 (10 years)
- Employees: 75 total, 13 performing advisory functions
- Wrap fee program participation: No
- States registered or notice-filed: CA, CO, IL, LA, MA, NE, NY, TX
- Disclosures (Item 11): Reports no disclosure items on Form ADV Item 11.

### Other offices (Schedule D, Section 1.F), as of the May 2025 filing
- New York, NY

### Websites listed on Form ADV (Item 1.I)
- ethic.com
- ethic.investments
- ethicinvesting.com
- open.spotify.com/show/4jPInE7bF8Gc8iQAcZtuc8
- podcasts.apple.com/us/podcast/work-ethic/id1878412217
- LinkedIn @ethic
- YouTube @WorkEthicShow

## Assets and staff over time

| Data period | Regulatory assets under management | Employees | Filing dated |
| --- | --- | --- | --- |
| October 2021 | $702,673,305 | 32 | March 29, 2021 |
| October 2022 | $1,815,426,583 | 55 | March 31, 2022 |
| October 2023 | $3,154,970,013 | 74 | August 24, 2023 |
| October 2024 | $4,907,799,279 | 65 | May 31, 2024 |
| October 2025 | $5,925,927,888 | 76 | April 17, 2025 |
| October 2026 | $10,120,085,218 | 75 | August 28, 2026 |

Regulatory assets under management: $702,673,305 in the October 2021 data and $10,120,085,218 in the October 2026 data, up 1340%.
Total employees: 32 in October 2021 and 75 in October 2026.

## Changes in the filing (last 12 months)

### September 2026
- Employees performing advisory functions went from 10 to 13.
- Regulatory assets under management went from $7,817,820,532 to $10,120,085,218 (+29%).

### April 2026
- Employees performing advisory functions went from 8 to 10.
- Updated its list of owners and control persons (Schedule A).

### December 2025
- Employees performing advisory functions went from 10 to 8.
- Regulatory assets under management went from $5,925,927,888 to $7,279,165,655 (+23%).

### November 2025
- No longer lists an office in New York, NY.
- Updated its list of owners and control persons (Schedule A).

## Source

Form ADV as filed, October 2026. Values appear as filed. Cite as: AdvisorCensus. Ethic (CRD 282827): Form ADV filing data as of October 2026.