# 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.

- CRD: 282663
- Filed as: FEDERAL PREP
- Legal name: Federal Prep Advisors, Inc.
- Also doing business as: TEACHER PREP
- Registration: SEC-registered investment adviser (status as filed: Approved)
- Location: Bohemia, NY
- Filing period: October 2026
- Form ADV filing dated: July 1, 2026
- SEC record (IAPD): https://adviserinfo.sec.gov/firm/summary/282663
- AdvisorCensus page: https://advisorcensus.com/firm/federal-prep-bohemia-ny-282663

## Quick answers

**How 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

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

### Fees and minimums (Form ADV Part 2A brochure dated March 12, 2026)

- Account minimum: None

> There is no minimum account size for any of FPAI’s services.

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

### Custodians (Schedule D, Section 5.K(3))
- Charles Schwab & Co., Inc.
- Fidelity Investments
- SEI Private Trust Company

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: $80,113,636
- Discretionary: $0
- Non-discretionary: $80,113,636

### Clients (Item 5.D)

| Client type | Clients | Assets |
| --- | --- | --- |
| Individuals (other than high net worth individuals) | 637 | $80,113,636 |
| High net worth individuals | 0 | $0 |
| 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
- Selection of other advisers (including private fund managers)
- Educational seminars/workshops

### Firm details
- Registered since: 2020 (6 years)
- Employees: 5 total, 3 performing advisory functions
- Wrap fee program participation: No
- States registered or notice-filed: DE, FL, NJ, NY, PA, TX, VA
- Disclosures (Item 11): Reports 3 disclosure items on Form ADV Item 11.

### Item 11 questions answered yes
- 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. The detail of each yes answer is on the firm's SEC record: https://adviserinfo.sec.gov/firm/summary/282663

### Other offices (Schedule D, Section 1.F), as of the August 2026 filing
- Haymarket, VA

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

## Assets and staff over time

| Data period | Regulatory assets under management | Employees | Filing dated |
| --- | --- | --- | --- |
| October 2021 | $62,203,814 | 4 | February 2, 2021 |
| October 2022 | $87,258,000 | 4 | January 21, 2022 |
| October 2023 | $89,290,000 | 5 | September 25, 2023 |
| October 2024 | $90,930,000 | 5 | May 21, 2024 |
| October 2025 | $95,460,000 | 4 | March 25, 2025 |
| October 2026 | $80,113,636 | 5 | July 1, 2026 |

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.

## 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.

## Source

Form ADV as filed, October 2026. Values appear as filed. Cite as: AdvisorCensus. Federal Prep (CRD 282663): Form ADV filing data as of October 2026.