{
  "crd_number": 286129,
  "slug": "frost-investment-services-san-antonio-tx-286129",
  "primary_business_name": "FROST INVESTMENT SERVICES",
  "legal_name": "FROST INVESTMENT SERVICES, LLC",
  "dbas": [],
  "city": "San Antonio",
  "state": "TX",
  "country": "United States",
  "cbsa_code": "41700",
  "metro": {
    "cbsa_code": "41700",
    "common_name": "San Antonio",
    "msa_name": "San Antonio-New Braunfels, TX",
    "path": "/advisors/tx/san-antonio"
  },
  "registration_type": "sec",
  "registration_status": "Approved",
  "registration_date": "2017-01-03",
  "years_registered": 9,
  "period": "2026-10-01",
  "filing_date": "2026-03-24",
  "carried_forward": false,
  "raum_total": 3671190351.0,
  "raum_discretionary": 3671190351.0,
  "raum_non_discretionary": 0.0,
  "raum_band": "1b_5b",
  "raum_band_label": "$1 billion to $5 billion",
  "total_employees": 177,
  "advisory_employees": 111,
  "client_count_bucket": "fewer_than_5_in_some_types",
  "clients_by_type": {
    "charitable": {
      "raum": 2004882.0,
      "count": 4,
      "fewer_than_5": true
    },
    "individuals": {
      "raum": 777697517.0,
      "count": 2484
    },
    "high_net_worth_individuals": {
      "raum": 1362764045.0,
      "count": 535
    },
    "corporations_other_businesses": {
      "raum": 1528723907.0,
      "count": 633
    }
  },
  "compensation_types": [
    "percentage_of_aum"
  ],
  "advisory_activities": [
    "financial_planning",
    "portfolio_management_businesses_institutional",
    "portfolio_management_individuals"
  ],
  "wrap_fee_participant": false,
  "disclosure_yes_count": 1,
  "states_registered": [
    "AL",
    "AR",
    "AZ",
    "CA",
    "CO",
    "FL",
    "GA",
    "HI",
    "IL",
    "KS",
    "LA",
    "MD",
    "MI",
    "MO",
    "MT",
    "NC",
    "NM",
    "NV",
    "NY",
    "OH",
    "OK",
    "OR",
    "SC",
    "TN",
    "TX",
    "UT",
    "VA",
    "WA"
  ],
  "websites": [],
  "iapd_url": "https://adviserinfo.sec.gov/firm/summary/286129",
  "disclosure_items": [
    {
      "item": "11.H(2)",
      "question": "Is the firm or an advisory affiliate now the subject of a civil proceeding that could result in a yes answer to any part of 11.H(1)?"
    }
  ],
  "city_as_filed": "SAN ANTONIO",
  "url": "https://advisorcensus.com/firm/frost-investment-services-san-antonio-tx-286129",
  "display_name": "Frost Investment Services",
  "summary": "Frost Investment Services is an SEC-registered investment advisory firm in San Antonio, TX, registered since 2017, reporting $1 billion to $5 billion in regulatory assets under management in its Form ADV filing dated March 24, 2026.",
  "citation": "AdvisorCensus. Frost Investment Services (CRD 286129): Form ADV filing data as of October 2026.",
  "registration_type_label": "SEC-registered investment adviser",
  "compensation_labels": [
    "A percentage of assets under your management"
  ],
  "advisory_activity_labels": [
    "Financial planning services",
    "Portfolio management for individuals and/or small businesses",
    "Portfolio management for businesses (other than small businesses) or institutional clients"
  ],
  "quick_answers": [
    {
      "q": "How is Frost Investment Services compensated?",
      "a": "On its Form ADV (Item 5.E, October 2026), Frost Investment Services reports these compensation arrangements: a percentage of assets under its management."
    },
    {
      "q": "Where is Frost Investment Services located?",
      "a": "Frost Investment Services' principal office is in San Antonio, TX, according to its Form ADV; the April 2026 filing also lists 23 other offices (Schedule D, Section 1.F)."
    },
    {
      "q": "Is Frost Investment Services registered with the SEC or a state?",
      "a": "Frost Investment Services is an SEC-registered investment advisory firm, registered since 2017. Status as filed: Approved. CRD 286129."
    },
    {
      "q": "How much does Frost Investment Services manage?",
      "a": "Frost Investment Services reports $3,671,190,351 in regulatory assets under management in its Form ADV filing dated March 24, 2026 (100% discretionary)."
    },
    {
      "q": "How have Frost Investment Services' assets and staff changed since 2021?",
      "a": "In the Form ADV data for Frost Investment Services: Regulatory assets under management: $2,048,283,297 in the October 2021 data and $3,671,190,351 in the October 2026 data, up 79%. Total employees: 76 in October 2021 and 177 in October 2026. Assets under management move with markets as well as with clients coming and going."
    },
    {
      "q": "What types of clients does Frost Investment Services serve?",
      "a": "By number of clients on Form ADV Item 5.D: individuals (other than high net worth individuals) (2,484); corporations or other businesses not listed above (633); high net worth individuals (535)."
    },
    {
      "q": "Which custodians does Frost Investment Services use?",
      "a": "Frost Investment Services' most recent Form ADV filing (Schedule D, Section 5.K(3)) lists National Financial Services LLC as a custodian holding 10% or more of its separately managed account assets."
    },
    {
      "q": "Does Frost Investment Services report any disciplinary disclosures?",
      "a": "Reports 1 disclosure item on Form ADV Item 11: yes answers to 11.H(2) (pending civil proceeding). Each question covers the firm and its advisory affiliates, and one event can produce several yes answers. The detail of any item is on the firm's SEC record: https://adviserinfo.sec.gov/firm/summary/286129"
    },
    {
      "q": "What changed in Frost Investment Services' recent Form ADV filings?",
      "a": "In the April 2026 filing data: Regulatory assets under management went from $2,976,654,932 to $3,671,190,351 (+23%). Employees performing advisory functions went from 104 to 111. Changed its office addresses in Corpus Christi, TX. Added an office in College Station, TX. Added an office in Fort Worth, TX. Added an office in Friendswood, TX. Added an office in Frisco, TX. Added an office in Houston, TX. Added an office in Irving, TX. Added an office in Kingwood, TX. Added an office in McAllen, TX. Added an office in Pasadena, TX. Added an office in Richmond, TX. Added an office in Rockwall, TX. Added an office in San Antonio, TX. Added an office in Southlake, TX. No longer lists an office in Austin, TX."
    }
  ],
  "filing_history": [
    {
      "period": "2021-10-01",
      "regulatory_assets_under_management": 2048283297.0,
      "total_employees": 76,
      "filing_date": "2021-08-12"
    },
    {
      "period": "2022-10-01",
      "regulatory_assets_under_management": 2693312601.0,
      "total_employees": 105,
      "filing_date": "2022-05-20"
    },
    {
      "period": "2023-10-01",
      "regulatory_assets_under_management": 2408896769.0,
      "total_employees": 105,
      "filing_date": "2023-07-20"
    },
    {
      "period": "2024-10-01",
      "regulatory_assets_under_management": 2737039224.0,
      "total_employees": 166,
      "filing_date": "2024-06-25"
    },
    {
      "period": "2025-10-01",
      "regulatory_assets_under_management": 2976654932.0,
      "total_employees": 177,
      "filing_date": "2025-03-27"
    },
    {
      "period": "2026-10-01",
      "regulatory_assets_under_management": 3671190351.0,
      "total_employees": 177,
      "filing_date": "2026-03-24"
    }
  ],
  "recent_changes": [
    {
      "period": "2026-04-01",
      "period_label": "April 2026",
      "notes": [
        "Regulatory assets under management went from $2,976,654,932 to $3,671,190,351 (+23%).",
        "Employees performing advisory functions went from 104 to 111.",
        "Changed its office addresses in Corpus Christi, TX.",
        "Added an office in College Station, TX.",
        "Added an office in Fort Worth, TX.",
        "Added an office in Friendswood, TX.",
        "Added an office in Frisco, TX.",
        "Added an office in Houston, TX.",
        "Added an office in Irving, TX.",
        "Added an office in Kingwood, TX.",
        "Added an office in McAllen, TX.",
        "Added an office in Pasadena, TX.",
        "Added an office in Richmond, TX.",
        "Added an office in Rockwall, TX.",
        "Added an office in San Antonio, TX.",
        "Added an office in Southlake, TX.",
        "No longer lists an office in Austin, TX."
      ]
    },
    {
      "period": "2025-12-01",
      "period_label": "December 2025",
      "notes": [
        "Item 11 disclosure answers changed: 1 yes answer, previously 2 (now no: 11.B(1))."
      ]
    }
  ],
  "fees_from_brochure": null,
  "custodians": [
    {
      "name": "National Financial Services LLC",
      "name_as_filed": "NATIONAL FINANCIAL SERVICES LLC",
      "affiliated": false
    }
  ],
  "custodians_note": "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.",
  "markdown_url": "https://advisorcensus.com/firm/frost-investment-services-san-antonio-tx-286129.md",
  "clients": [
    {
      "type": "individuals",
      "label": "Individuals (other than high net worth individuals)",
      "count": 2484,
      "fewer_than_5": false,
      "raum": 777697517.0
    },
    {
      "type": "high_net_worth_individuals",
      "label": "High net worth individuals",
      "count": 535,
      "fewer_than_5": false,
      "raum": 1362764045.0
    },
    {
      "type": "charitable",
      "label": "Charitable organizations",
      "count": 4,
      "fewer_than_5": true,
      "raum": 2004882.0
    },
    {
      "type": "corporations_other_businesses",
      "label": "Corporations or other businesses not listed above",
      "count": 633,
      "fewer_than_5": false,
      "raum": 1528723907.0
    }
  ],
  "disclosure_line": "Reports 1 disclosure item on Form ADV Item 11.",
  "indexable": true,
  "suppressed": false,
  "claimed": false,
  "enhanced": false,
  "provided_by_the_firm": null,
  "source": {
    "name": "Form ADV",
    "as_of": "2026-10-01",
    "iapd_url": "https://adviserinfo.sec.gov/firm/summary/286129",
    "operator": "BH Monitor Services, LLC",
    "license": "https://creativecommons.org/licenses/by/4.0/",
    "credit": "AdvisorCensus (advisorcensus.com), from SEC Form ADV data"
  }
}