# Freestate Advisors LLC

> Freestate Advisors LLC is an SEC-registered investment advisory firm in Overland Park, KS, registered since 2015, reporting $100 million to $500 million in regulatory assets under management in its Form ADV filing dated January 5, 2026.

- CRD: 145800
- Filed as: FREESTATE ADVISORS LLC
- Registration: SEC-registered investment adviser (status as filed: Approved)
- Location: Overland Park, KS
- Filing period: October 2026
- Form ADV filing dated: January 5, 2026
- SEC record (IAPD): https://adviserinfo.sec.gov/firm/summary/145800
- AdvisorCensus page: https://advisorcensus.com/firm/freestate-advisors-llc-overland-park-ks-145800

## Quick answers

**How is Freestate Advisors LLC compensated?**
On its Form ADV (Item 5.E, October 2026), Freestate Advisors LLC reports these compensation arrangements: a percentage of assets under its management. The amounts are in Item 5 of its Form ADV Part 2A brochure.

**Where is Freestate Advisors LLC located?**
Freestate Advisors LLC's principal office is in Overland Park, KS, according to its Form ADV; the February 2026 filing also lists 1 other office (Schedule D, Section 1.F).

**Is Freestate Advisors LLC registered with the SEC or a state?**
Freestate Advisors LLC is an SEC-registered investment advisory firm, registered since 2015. Status as filed: Approved. CRD 145800.

**How much does Freestate Advisors LLC manage?**
Freestate Advisors LLC reports $181,837,666 in regulatory assets under management in its Form ADV filing dated January 5, 2026 (56% discretionary).

**How have Freestate Advisors LLC's assets and staff changed since 2021?**
In the Form ADV data for Freestate Advisors LLC: Regulatory assets under management: $134,957,517 in the October 2021 data and $181,837,666 in the October 2026 data, up 35%. Total employees: 9 in October 2021 and 9 in October 2026. Assets under management move with markets as well as with clients coming and going.

**What types of clients does Freestate Advisors LLC serve?**
By number of clients on Form ADV Item 5.D: individuals (other than high net worth individuals) (161); high net worth individuals (83).

**Which custodians does Freestate Advisors LLC use?**
Freestate Advisors 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 Freestate Advisors 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/145800

**What changed in Freestate Advisors LLC's recent Form ADV filings?**
In the February 2026 filing data: Regulatory assets under management went from $159,596,367 to $181,837,666 (+14%).

## From the Form ADV filing

### Compensation (Item 5.E)
- A percentage of assets under your management

### 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: $181,837,666
- Discretionary: $101,160,562
- Non-discretionary: $80,677,104

### Clients (Item 5.D)

| Client type | Clients | Assets |
| --- | --- | --- |
| Individuals (other than high net worth individuals) | 161 | $42,767,848 |
| High net worth individuals | 83 | $137,673,595 |
| Banking or thrift institutions | 0 | $0 |
| Investment companies | 0 | $0 |
| Business development companies | 0 | $0 |
| Pooled investment vehicles (other than investment companies and business development companies) | 0 | $0 |
| Pension and profit sharing plans (but not the plan participants or government pension plans) | 0 | $0 |
| Charitable organizations | Fewer than 5 | $951,831 |
| State or municipal government entities (including government pension plans) | 0 | $0 |
| Other investment advisers | 0 | $0 |
| Insurance companies | 0 | $0 |
| Sovereign wealth funds and foreign official institutions | 0 | $0 |
| Corporations or other businesses not listed above | Fewer than 5 | $444,392 |

### Advisory services (Item 5.G)
- Financial planning services
- Portfolio management for individuals and/or small businesses
- Portfolio management for businesses (other than small businesses) or institutional clients
- Pension consulting services

### Firm details
- Registered since: 2015 (10 years)
- Employees: 9 total, 9 performing advisory functions
- Wrap fee program participation: No
- States registered or notice-filed: AZ, KS, MO, NE, NH, TX
- Disclosures (Item 11): Reports no disclosure items on Form ADV Item 11.

### Other offices (Schedule D, Section 1.F), as of the February 2026 filing
- Overland Park, KS

### Websites listed on Form ADV (Item 1.I)
- freestateadvisors.com
- Facebook @FreestateAdvisors
- LinkedIn @freestate-advisors-llc
- YouTube @FreestateAdvisors

## Assets and staff over time

| Data period | Regulatory assets under management | Employees | Filing dated |
| --- | --- | --- | --- |
| October 2021 | $134,957,517 | 9 | August 2, 2021 |
| October 2022 | $147,156,735 | 9 | January 4, 2022 |
| October 2023 | $134,027,481 | 8 | January 19, 2023 |
| October 2024 | $134,758,547 | 8 | July 9, 2024 |
| October 2025 | $159,596,367 | 9 | January 9, 2025 |
| October 2026 | $181,837,666 | 9 | January 5, 2026 |

Regulatory assets under management: $134,957,517 in the October 2021 data and $181,837,666 in the October 2026 data, up 35%.
Total employees: 9 in October 2021 and 9 in October 2026.

## Changes in the filing (last 12 months)

### February 2026
- Regulatory assets under management went from $159,596,367 to $181,837,666 (+14%).

## Source

Form ADV as filed, October 2026. Values appear as filed. Cite as: AdvisorCensus. Freestate Advisors LLC (CRD 145800): Form ADV filing data as of October 2026.