AdvisorCensus / Financial advisors / New York / New York / Federal Prep
Federal Prep is an SEC-registered investment advisory firm in Bohemia, NY, registered since 2020, reporting $25 million to $100 million in regulatory assets under management in its Form ADV filing dated July 1, 2026.
Quick answers
From the filingHow is Federal Prep compensated?
On its Form ADV (Item 5.E, October 2026), Federal Prep reports these compensation arrangements: a percentage of assets under its management.
Where is Federal Prep located?
Federal Prep's principal office is in Bohemia, NY, according to its Form ADV; the August 2026 filing also lists 1 other office (Schedule D, Section 1.F).
Is Federal Prep registered with the SEC or a state?
Federal Prep is an SEC-registered investment advisory firm, registered since 2020. Status as filed: Approved. CRD 282663.
How much does Federal Prep manage?
Federal Prep reports $80,113,636 in regulatory assets under management in its Form ADV filing dated July 1, 2026 (0% discretionary).
How have Federal Prep's assets and staff changed since 2021?
In the Form ADV data for Federal Prep: Regulatory assets under management: $62,203,814 in the October 2021 data and $80,113,636 in the October 2026 data, up 29%. Total employees: 4 in October 2021 and 5 in October 2026. Assets under management move with markets as well as with clients coming and going.
What types of clients does Federal Prep serve?
By number of clients on Form ADV Item 5.D: individuals (other than high net worth individuals) (637).
Which custodians does Federal Prep use?
Federal Prep's most recent Form ADV filing (Schedule D, Section 5.K(3)) lists Charles Schwab & Co., Inc., Fidelity Investments and SEI Private Trust Company as custodians holding 10% or more of its separately managed account assets.
Does Federal Prep report any disciplinary disclosures?
Reports 3 disclosure items on Form ADV Item 11: yes answers to 11.C(2) (SEC or CFTC finding of a violation), 11.C(4) (SEC or CFTC order), and 11.C(5) (SEC or CFTC civil money penalty or cease-and-desist order). Each question covers the firm and its advisory affiliates, and one event can produce several yes answers. The detail of any item is on the firm's SEC record: https://adviserinfo.sec.gov/firm/summary/282663
Does Federal Prep state an account minimum?
Its Form ADV Part 2A brochure dated March 12, 2026 says: "There is no minimum account size for any of FPAI’s services."
What changed in Federal Prep's recent Form ADV filings?
In the August 2026 filing data: Updated its list of owners and control persons (Schedule A).
From the Form ADV filing
Every figure below is as the firm filed it with regulators, as of October 2026.
How the firm is compensated
Item 5.E- A percentage of assets under your management
Item 5.E lists how the firm is compensated for its advice; Items 5.B, 6.A, and 7.A show whether its people or related companies can also earn commissions. Percentage of assets, fixed, hourly, subscription, and performance-based fees come from clients (a performance-based fee depends on investment results); commissions come with a sale or a trade, often from the company behind the product. How fees, commissions, and other arrangements differ
Fees and minimums
Form ADV Part 2AAccount minimum: None
The brochure's wording
There is no minimum account size for any of FPAI’s services.
As stated in the firm's Form ADV Part 2A brochure dated March 12, 2026. Fees can differ by service and may be negotiable; the brochure is the complete statement. Read the brochure on the SEC's IAPD site
Regulatory assets under management
Item 5.F$80,113,636 as of October 2026, filing dated July 1, 2026.
A measure of scale, not skill or returns. Discretionary means the firm decides trades; non-discretionary means clients approve each one. What assets under management means
Who the firm serves
Item 5.DA firm with no individual clients is an institutional manager even if it manages billions; the mix tells you whom the practice is built around.
Advisory services
Item 5.G- Portfolio management for individuals and/or small businesses
- Selection of other advisers (including private fund managers)
- Educational seminars/workshops
Registration and firm details
Items 1, 2, 5- Legal name
- Federal Prep Advisors, Inc.
- Also doing business as
- TEACHER PREP
- Registration
- SEC-registered investment adviser. Status as filed: Approved.
- Registered since
- 2020 (6 years)
- Employees
- Total: 5. Performing investment advisory functions: 3.
- Wrap fee program participation
- No.
- Custodians (Schedule D, Section 5.K(3))
-
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.
- Other offices (Schedule D, Section 1.F)
-
1 other office, as of the August 2026 filing
- States registered or notice-filed
-
7 states or jurisdictions
SEC-registered investment advisers are examined by the SEC. SEC, state, and exempt registration
Disclosures
Item 113 Reports 3 disclosure items on Form ADV Item 11. View on IAPD.
Questions answered yes on this filing
Regulatory matters Items 11.C to 11.G
- 11.C(2) Has the SEC or the CFTC ever found that the firm or an advisory affiliate was involved in a violation of SEC or CFTC regulations or statutes?
- 11.C(4) Has the SEC or the CFTC ever entered an order against the firm or an advisory affiliate in connection with investment-related activity?
- 11.C(5) Has the SEC or the CFTC ever imposed a civil money penalty on the firm or an advisory affiliate, or ordered the firm or an advisory affiliate to cease and desist from an activity?
Each question covers the firm and its advisory affiliates: its current employees other than clerical staff, its officers, partners, and directors, and anyone who controls the firm or is controlled by it. One event can produce yes answers to several questions. SEC-registered advisers and exempt reporting advisers may leave out events more than ten years old, and may answer 11.A(2) and 11.B(2) for pending charges only. What happened, and who was involved, is on the Disclosure Reporting Pages of the IAPD record. Reading a firm's disclosures
Assets and staff over time
Items 5.A, 5.F| Data period | Assets under management | Employees | Filing dated |
|---|---|---|---|
| October 2026 | $80,113,636 | 5 | July 1, 2026 |
| October 2025 | $95,460,000 | 4 | March 25, 2025 |
| October 2024 | $90,930,000 | 5 | May 21, 2024 |
| October 2023 | $89,290,000 | 5 | September 25, 2023 |
| October 2022 | $87,258,000 | 4 | January 21, 2022 |
| October 2021 | $62,203,814 | 4 | February 2, 2021 |
Regulatory assets under management: $62,203,814 in the October 2021 data and $80,113,636 in the October 2026 data, up 29%.
Total employees: 4 in October 2021 and 5 in October 2026.
As filed in each year's data for the same month. Assets under management move with markets as well as with clients coming and going; they measure scale, not skill or returns. Most firms update these figures once a year.
Changes in the filing
Last 12 months- August 2026
- Updated its list of owners and control persons (Schedule A).
- April 2026
- Employees performing advisory functions went from 4 to 3.
- Regulatory assets under management went from $95,460,000 to $80,113,636 (-16%).
- Added an office in Haymarket, VA.
- No longer lists an office in Albany, NY.
- December 2025
- Added the business name Teacher Prep.
Compared month to month from the SEC's monthly adviser data and the state compilation feed. Owners and control persons are summarized, never named.
Websites listed on Form ADV
Item 1.ISource: Form ADV, as of October 2026. Values appear as filed; a value the firm did not report is shown as "Not reported."
Cite this page
AdvisorCensus. Federal Prep (CRD 282663): Form ADV filing data as of October 2026. https://advisorcensus.com/firm/federal-prep-bohemia-ny-282663