AdvisorCensus / Financial advisors / Minnesota / Duluth / First Associated Investment Advisors, Inc.
First Associated Investment Advisors, Inc.
Filed as FIRST ASSOCIATED INVESTMENT ADVISORS, INC.
First Associated Investment Advisors, Inc. is an SEC-registered investment advisory firm in Duluth, MN, registered since 2002, reporting $25 million to $100 million in regulatory assets under management in its Form ADV filing dated June 16, 2026.
Quick answers
From the filingHow is First Associated Investment Advisors, Inc. compensated?
On its Form ADV (Item 5.E, October 2026), First Associated Investment Advisors, Inc. reports these compensation arrangements: a percentage of assets under its management.
Where is First Associated Investment Advisors, Inc. located?
First Associated Investment Advisors, Inc.'s principal office is in Duluth, MN, according to its Form ADV.
Is First Associated Investment Advisors, Inc. registered with the SEC or a state?
First Associated Investment Advisors, Inc. is an SEC-registered investment advisory firm, registered since 2002. Status as filed: Approved. CRD 113086.
How much does First Associated Investment Advisors, Inc. manage?
First Associated Investment Advisors, Inc. reports $93,144,375 in regulatory assets under management in its Form ADV filing dated June 16, 2026 (100% discretionary).
How have First Associated Investment Advisors, Inc.'s assets and staff changed since 2021?
In the Form ADV data for First Associated Investment Advisors, Inc.: Regulatory assets under management: $36,101,290 in the October 2021 data and $93,144,375 in the October 2026 data, up 158%. Total employees: 3 in October 2021 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 Associated Investment Advisors, Inc. serve?
By number of clients on Form ADV Item 5.D: investment companies (1).
Does First Associated Investment Advisors, Inc. 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/113086
What changed in First Associated Investment Advisors, Inc.'s recent Form ADV filings?
In the July 2026 filing data: Regulatory assets under management went from $52,183,383 to $93,144,375 (+78%).
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
Regulatory assets under management
Item 5.F$93,144,375 as of October 2026, filing dated June 16, 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 investment companies (and business development companies)
Registration and firm details
Items 1, 2, 5- Registration
- SEC-registered investment adviser. Status as filed: Approved.
- Registered since
- 2002 (24 years)
- Employees
- Total: 4. Performing investment advisory functions: 1.
- Wrap fee program participation
- No.
- States registered or notice-filed
-
2 states or jurisdictions
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 | $93,144,375 | 4 | June 16, 2026 |
| October 2025 | $52,183,383 | 4 | June 26, 2025 |
| October 2024 | $41,083,434 | 3 | June 12, 2024 |
| October 2023 | $32,501,090 | 3 | June 21, 2023 |
| October 2022 | $37,359,535 | 3 | June 24, 2022 |
| October 2021 | $36,101,290 | 3 | July 13, 2021 |
Regulatory assets under management: $36,101,290 in the October 2021 data and $93,144,375 in the October 2026 data, up 158%.
Total employees: 3 in October 2021 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- July 2026
- Regulatory assets under management went from $52,183,383 to $93,144,375 (+78%).
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 Associated Investment Advisors, Inc. (CRD 113086): Form ADV filing data as of October 2026. https://advisorcensus.com/firm/first-associated-investment-advisors-inc-duluth-mn-113086