AdvisorCensus / Financial advisors / Fmsa
Fmsa is an SEC-registered investment advisory firm, registered since 2010, reporting $100 million to $500 million in regulatory assets under management in its Form ADV filing dated September 25, 2026.
Quick answers
From the filingHow is Fmsa compensated?
On its Form ADV (Item 5.E, October 2026), Fmsa reports these compensation arrangements: a percentage of assets under its management; hourly charges.
How much does Fmsa charge?
Its Form ADV Part 2A brochure dated February 11, 2026 states: $1 to $99,999: 2.5% a year; $100,000 to $249,999: 1.98% a year; $250,000 to $749,999: 1.5% a year; $750,000 to $999,999: 1.25% a year; Above $1,000,000: 1% a year. Fees can differ by service and may be negotiable; the brochure is the complete statement.
Is Fmsa registered with the SEC or a state?
Fmsa is an SEC-registered investment advisory firm, registered since 2010. Status as filed: Approved. CRD 154136.
How much does Fmsa manage?
Fmsa reports $216,378,047 in regulatory assets under management in its Form ADV filing dated September 25, 2026 (63% discretionary).
How have Fmsa's assets and staff changed since 2021?
In the Form ADV data for Fmsa: Regulatory assets under management: $130,652,557 in the October 2021 data and $216,378,047 in the October 2026 data, up 66%. Total employees: 9 in October 2021 and 20 in October 2026. Assets under management move with markets as well as with clients coming and going.
What types of clients does Fmsa serve?
By number of clients on Form ADV Item 5.D: individuals (other than high net worth individuals) (1,046); high net worth individuals (218); pension and profit sharing plans (but not the plan participants or government pension plans) (27).
Does Fmsa 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/154136
What changed in Fmsa's recent Form ADV filings?
In the October 2026 filing data: Added an office in Clermont, FL. Added an office in Conroe, TX. Added an office in Dayton, FL. Added an office in French Settlement, LA. Added an office in Louisville, KY. Added an office in Tampa, FL. Added an office in Wellington, FL.
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
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 2A| Assets | Annual rate |
|---|---|
| $1 to $99,999 | 2.5% |
| $100,000 to $249,999 | 1.98% |
| $250,000 to $749,999 | 1.5% |
| $750,000 to $999,999 | 1.25% |
| Above $1,000,000 | 1% |
The brochure's wording
$1.00 to $99,999.00 2.5000% or 0.6250%
$100,000.00 to $249,999.00 1.9800% or 0.4950%
$250,000.00 to $749,999.00 1.5000% or 0.3750%
$750,000.00 to $999,999.00 1.2500% or 0.3125%
$1,000,000.00 and over 1.0000% or 0.2500%
As stated in the firm's Form ADV Part 2A brochure dated February 11, 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$216,378,047 as of October 2026, filing dated September 25, 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
- Financial Management Services of America LLC.
- Also doing business as
- FMSA
- Registration
- SEC-registered investment adviser. Status as filed: Approved.
- Registered since
- 2010 (16 years)
- Employees
- Total: 20. Performing investment advisory functions: 20.
- Wrap fee program participation
- No.
- Other offices (Schedule D, Section 1.F)
-
9 other offices, as of the October 2026 filing
- States registered or notice-filed
-
9 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 | $216,378,047 | 20 | September 25, 2026 |
| October 2025 | $189,133,382 | 12 | March 20, 2025 |
| October 2024 | $169,263,056 | 12 | March 15, 2024 |
| October 2023 | $145,208,238 | 9 | March 16, 2023 |
| October 2022 | $146,400,136 | 9 | March 30, 2022 |
| October 2021 | $130,652,557 | 9 | May 25, 2021 |
Regulatory assets under management: $130,652,557 in the October 2021 data and $216,378,047 in the October 2026 data, up 66%.
Total employees: 9 in October 2021 and 20 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- October 2026
- Added an office in Clermont, FL.
- Added an office in Conroe, TX.
- Added an office in Dayton, FL.
- Added an office in French Settlement, LA.
- Added an office in Louisville, KY.
- Added an office in Tampa, FL.
- Added an office in Wellington, FL.
- July 2026
- Registered or notice-filed in TN.
- May 2026
- Registered or notice-filed in KS.
- March 2026
- Regulatory assets under management went from $189,133,382 to $216,378,047 (+14%).
- Employees performing advisory functions went from 18 to 20.
- January 2026
- No longer registered or notice-filed in PA, TN.
- December 2025
- Employees performing advisory functions went from 12 to 18.
- Registered or notice-filed in KY.
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. Fmsa (CRD 154136): Form ADV filing data as of October 2026. https://advisorcensus.com/firm/fmsa-154136