# First and Main Financial

> 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.

- CRD: 121359
- Filed as: FIRST AND MAIN FINANCIAL
- Legal name: Wolfers Asset Management LLC
- Registration: SEC-registered investment adviser (status as filed: Approved)
- Filing period: October 2026
- Form ADV filing dated: July 14, 2026
- SEC record (IAPD): https://adviserinfo.sec.gov/firm/summary/121359
- AdvisorCensus page: https://advisorcensus.com/firm/first-and-main-financial-121359

## Quick answers

**How 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).

**How much does First and Main Financial charge?**
Its Form ADV Part 2A brochure dated March 3, 2026 states: Flat fee: $500 to $5,000 (Financial planning services); Hourly rate: $400 an hour (initial planning); Hourly rate: $250 an hour (Revisions to existing plans). Fees can differ by service and may be negotiable; the brochure is the complete statement.

**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

### 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 3, 2026)

- Account minimum: $500,000 (the brochure says it may be waived or negotiated)

> First and Main’s asset minimum for new clients is typically $500,000, but this minimum may be waived at Erik Wolfers’ sole discretion.

- Flat fee: $500 to $5,000 (Financial planning services)

> Financial planning services are provided for a fixed fee ranging from $500 to $5,000.

- Hourly rate: $400 an hour (initial planning)

> Services may also be offered for a rate of $400 per hour for initial planning.

- Hourly rate: $250 an hour (Revisions to existing plans)

> Revisions to existing plans are billed at a rate of $250 per hour.

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: $165,310,192
- Discretionary: $165,310,192
- Non-discretionary: $0

### Clients (Item 5.D)

| Client type | Clients | Assets |
| --- | --- | --- |
| Individuals (other than high net worth individuals) | 49 | $14,568,757 |
| High net worth individuals | 73 | $150,741,435 |

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

### Firm details
- Registered since: 2025 (1 year)
- Employees: 4 total, 3 performing advisory functions
- Wrap fee program participation: No
- States registered or notice-filed: CA
- Disclosures (Item 11): Reports no disclosure items on Form ADV Item 11.

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

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

## Assets and staff over time

| Data period | Regulatory assets under management | Employees | Filing dated |
| --- | --- | --- | --- |
| October 2025 | $142,261,821 | 5 | February 24, 2025 |
| October 2026 | $165,310,192 | 4 | July 14, 2026 |

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.

## Changes in the filing (last 12 months)

### April 2026
- Regulatory assets under management went from $142,261,821 to $165,310,192 (+16%).

## Source

Form ADV as filed, October 2026. Values appear as filed. Cite as: AdvisorCensus. First and Main Financial (CRD 121359): Form ADV filing data as of October 2026.