# Financial Management Associates, LLC

> Financial Management Associates, LLC is an SEC-registered investment advisory firm in Windham, NH, registered since 2023, reporting $100 million to $500 million in regulatory assets under management in its Form ADV filing dated September 4, 2026.

- CRD: 327502
- Filed as: FINANCIAL MANAGEMENT ASSOCIATES, LLC
- Registration: SEC-registered investment adviser (status as filed: Approved)
- Location: Windham, NH
- Filing period: October 2026
- Form ADV filing dated: September 4, 2026
- SEC record (IAPD): https://adviserinfo.sec.gov/firm/summary/327502
- AdvisorCensus page: https://advisorcensus.com/firm/financial-management-associates-llc-windham-nh-327502

## Quick answers

**How is Financial Management Associates, LLC compensated?**
On its Form ADV (Item 5.E, October 2026), Financial Management Associates, LLC reports these compensation arrangements: a percentage of assets under its management; hourly charges; fixed fees (other than subscription fees).

**Where is Financial Management Associates, LLC located?**
Financial Management Associates, LLC's principal office is in Windham, NH, according to its Form ADV; the April 2026 filing also lists 1 other office (Schedule D, Section 1.F).

**Is Financial Management Associates, LLC registered with the SEC or a state?**
Financial Management Associates, LLC is an SEC-registered investment advisory firm, registered since 2023. Status as filed: Approved. CRD 327502.

**How much does Financial Management Associates, LLC manage?**
Financial Management Associates, LLC reports $135,796,343 in regulatory assets under management in its Form ADV filing dated September 4, 2026 (100% discretionary).

**How have Financial Management Associates, LLC's assets and staff changed since 2023?**
In the Form ADV data for Financial Management Associates, LLC: Regulatory assets under management: $0 in the October 2023 data and $135,796,343 in the October 2026 data. Total employees: 4 in October 2023 and 3 in October 2026. Assets under management move with markets as well as with clients coming and going.

**What types of clients does Financial Management Associates, LLC serve?**
By number of clients on Form ADV Item 5.D: individuals (other than high net worth individuals) (202); high net worth individuals (141).

**Which custodians does Financial Management Associates, LLC use?**
Financial Management Associates, LLC'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 Financial Management Associates, LLC 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/327502

**Does Financial Management Associates, LLC state an account minimum?**
Its Form ADV Part 2A brochure dated March 17, 2026 says: "FMA does not have any minimum account size requirements."

**What changed in Financial Management Associates, LLC's recent Form ADV filings?**
In the October 2026 filing data: No longer lists an office in North Andover, MA.

## From the Form ADV filing

### Compensation (Item 5.E)
- A percentage of assets under your management
- Hourly charges
- Fixed fees (other than subscription fees)

### Fees and minimums (Form ADV Part 2A brochure dated March 17, 2026)

- Account minimum: None

> FMA does not have any minimum account size requirements.

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.

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: $135,796,343
- Discretionary: $135,331,031
- Non-discretionary: $465,312

### Clients (Item 5.D)

| Client type | Clients | Assets |
| --- | --- | --- |
| Individuals (other than high net worth individuals) | 202 | $28,082,491 |
| High net worth individuals | 141 | $104,248,221 |
| Charitable organizations | Fewer than 5 | $3,465,631 |

### Advisory services (Item 5.G)
- Financial planning services
- Portfolio management for individuals and/or small businesses

### Firm details
- Registered since: 2023 (3 years)
- Employees: 3 total, 1 performing advisory functions
- Wrap fee program participation: No
- States registered or notice-filed: FL, MA, NH, TX
- Disclosures (Item 11): Reports no disclosure items on Form ADV Item 11.

### Other offices (Schedule D, Section 1.F), as of the April 2026 filing
- North Andover, MA

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

## Assets and staff over time

| Data period | Regulatory assets under management | Employees | Filing dated |
| --- | --- | --- | --- |
| October 2023 | $0 | 4 | September 19, 2023 |
| October 2024 | $110,085,539 | 4 | June 21, 2024 |
| October 2025 | $126,639,270 | 3 | March 6, 2025 |
| October 2026 | $135,796,343 | 3 | September 4, 2026 |

Regulatory assets under management: $0 in the October 2023 data and $135,796,343 in the October 2026 data.
Total employees: 4 in October 2023 and 3 in October 2026.

## Changes in the filing (last 12 months)

### October 2026
- No longer lists an office in North Andover, MA.

### April 2026
- Item 11 disclosure answers changed: 0 yes answers, previously 1 (now no: 11.D(4)).
- Added an office in North Andover, MA.
- No longer lists an office in Windham, NH.
- Registered or notice-filed in TX.

## Source

Form ADV as filed, October 2026. Values appear as filed. Cite as: AdvisorCensus. Financial Management Associates, LLC (CRD 327502): Form ADV filing data as of October 2026.