# Frost Investment Services

> 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.

- CRD: 286129
- Filed as: FROST INVESTMENT SERVICES
- Legal name: Frost Investment Services, LLC
- Registration: SEC-registered investment adviser (status as filed: Approved)
- Location: San Antonio, TX
- Filing period: October 2026
- Form ADV filing dated: March 24, 2026
- SEC record (IAPD): https://adviserinfo.sec.gov/firm/summary/286129
- AdvisorCensus page: https://advisorcensus.com/firm/frost-investment-services-san-antonio-tx-286129

## Quick answers

**How is Frost Investment Services compensated?**
On its Form ADV (Item 5.E, October 2026), Frost Investment Services 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 Frost Investment Services located?**
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).

**Is Frost Investment Services registered with the SEC or a state?**
Frost Investment Services is an SEC-registered investment advisory firm, registered since 2017. Status as filed: Approved. CRD 286129.

**How much does Frost Investment Services manage?**
Frost Investment Services reports $3,671,190,351 in regulatory assets under management in its Form ADV filing dated March 24, 2026 (100% discretionary).

**How have Frost Investment Services' assets and staff changed since 2021?**
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.

**What types of clients does Frost Investment Services serve?**
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).

**Which custodians does Frost Investment Services use?**
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.

**Does Frost Investment Services report any disciplinary disclosures?**
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

**What changed in Frost Investment Services' recent Form ADV filings?**
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.

## From the Form ADV filing

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

### Custodians (Schedule D, Section 5.K(3))
- National Financial Services LLC

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: $3,671,190,351
- Discretionary: $3,671,190,351
- Non-discretionary: $0

### Clients (Item 5.D)

| Client type | Clients | Assets |
| --- | --- | --- |
| Individuals (other than high net worth individuals) | 2,484 | $777,697,517 |
| High net worth individuals | 535 | $1,362,764,045 |
| Charitable organizations | 4 | $2,004,882 |
| Corporations or other businesses not listed above | 633 | $1,528,723,907 |

### 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

### Firm details
- Registered since: 2017 (9 years)
- Employees: 177 total, 111 performing advisory functions
- Wrap fee program participation: No
- States registered or notice-filed: 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
- Disclosures (Item 11): Reports 1 disclosure item on Form ADV Item 11.

### Item 11 questions answered yes
- 11.H(2): 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)?

Each question covers the firm and its advisory affiliates: its current employees other than clerical staff, its officers, partners, and directors, and anyone who controls the firm or is controlled by it. One event can produce yes answers to several questions. SEC-registered advisers and exempt reporting advisers may leave out events more than ten years old, and may answer 11.A(2) and 11.B(2) for pending charges only. The detail of each yes answer is on the firm's SEC record: https://adviserinfo.sec.gov/firm/summary/286129

### Other offices (Schedule D, Section 1.F), as of the April 2026 filing
- Austin, TX
- Boerne, TX
- College Station, TX
- Corpus Christi, TX
- Dallas, TX
- Fort Worth, TX
- Friendswood, TX
- Frisco, TX
- Houston, TX
- Irving, TX
- Katy, TX
- Kingwood, TX
- League City, TX
- Mansfield, TX
- McAllen, TX
- Pasadena, TX
- Richmond, TX
- Rockwall, TX
- San Antonio, TX
- San Marcos, TX
- Southlake, TX
- The Woodlands, TX
- Victoria, TX

## Assets and staff over time

| Data period | Regulatory assets under management | Employees | Filing dated |
| --- | --- | --- | --- |
| October 2021 | $2,048,283,297 | 76 | August 12, 2021 |
| October 2022 | $2,693,312,601 | 105 | May 20, 2022 |
| October 2023 | $2,408,896,769 | 105 | July 20, 2023 |
| October 2024 | $2,737,039,224 | 166 | June 25, 2024 |
| October 2025 | $2,976,654,932 | 177 | March 27, 2025 |
| October 2026 | $3,671,190,351 | 177 | March 24, 2026 |

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.

## Changes in the filing (last 12 months)

### April 2026
- 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.

### December 2025
- Item 11 disclosure answers changed: 1 yes answer, previously 2 (now no: 11.B(1)).

## Source

Form ADV as filed, October 2026. Values appear as filed. Cite as: AdvisorCensus. Frost Investment Services (CRD 286129): Form ADV filing data as of October 2026.