AdvisorCensus / Financial advisors / First and Main Financial
First and Main Financial
Filed as FIRST AND MAIN FINANCIAL · Legal name Wolfers Asset Management LLC
First and Main Financial is an SEC-registered investment advisory firm, registered since 2025, reporting $100 million to $500 million in regulatory assets under management in its Form ADV filing dated July 14, 2026.
Quick answers
From the filingHow is First and Main Financial compensated?
On its Form ADV (Item 5.E, October 2026), First and Main Financial reports these compensation arrangements: a percentage of assets under its management; hourly charges; fixed fees (other than subscription fees).
Is First and Main Financial registered with the SEC or a state?
First and Main Financial is an SEC-registered investment advisory firm, registered since 2025. Status as filed: Approved. CRD 121359.
How much does First and Main Financial manage?
First and Main Financial reports $165,310,192 in regulatory assets under management in its Form ADV filing dated July 14, 2026 (100% discretionary).
How have First and Main Financial's assets and staff changed since 2025?
In the Form ADV data for First and Main Financial: Regulatory assets under management: $142,261,821 in the October 2025 data and $165,310,192 in the October 2026 data, up 16%. Total employees: 5 in October 2025 and 4 in October 2026. Assets under management move with markets as well as with clients coming and going.
What types of clients does First and Main Financial serve?
By number of clients on Form ADV Item 5.D: high net worth individuals (73); individuals (other than high net worth individuals) (49).
Which custodians does First and Main Financial use?
First and Main Financial'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 First and Main Financial 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/121359
Does First and Main Financial state an account minimum?
Its Form ADV Part 2A brochure dated March 3, 2026 says: "First and Main’s asset minimum for new clients is typically $500,000, but this minimum may be waived at Erik Wolfers’ sole discretion."
What changed in First and Main Financial's recent Form ADV filings?
In the April 2026 filing data: Regulatory assets under management went from $142,261,821 to $165,310,192 (+16%).
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
- Hourly charges
- Fixed fees (other than subscription fees)
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 2AThe brochure lists different fees for different services or strategies; see the brochure for them.
Account minimum: $500,000 (the brochure says it may be waived or negotiated)
The brochure's wording
First and Main’s asset minimum for new clients is typically $500,000, but this minimum may be waived at Erik Wolfers’ sole discretion.
As stated in the firm's Form ADV Part 2A brochure dated March 3, 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$165,310,192 as of October 2026, filing dated July 14, 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- Financial planning services
- Portfolio management for individuals and/or small businesses
Registration and firm details
Items 1, 2, 5- Legal name
- Wolfers Asset Management LLC
- Registration
- SEC-registered investment adviser. Status as filed: Approved.
- Registered since
- 2025 (1 year)
- Employees
- Total: 4. 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
-
1 state or jurisdiction
SEC-registered investment advisers are examined by the SEC. SEC, state, and exempt registration
Disclosures
Item 11None Reports no disclosure items on Form ADV Item 11. View on IAPD.
Item 11 asks about criminal, regulatory, and civil events involving the firm and its advisory personnel. The detail of each yes answer is on 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 | $165,310,192 | 4 | July 14, 2026 |
| October 2025 | $142,261,821 | 5 | February 24, 2025 |
Regulatory assets under management: $142,261,821 in the October 2025 data and $165,310,192 in the October 2026 data, up 16%.
Total employees: 5 in October 2025 and 4 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- April 2026
- Regulatory assets under management went from $142,261,821 to $165,310,192 (+16%).
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. First and Main Financial (CRD 121359): Form ADV filing data as of October 2026. https://advisorcensus.com/firm/first-and-main-financial-121359