# Gifford Fong Associates

> Gifford Fong Associates is an SEC-registered investment advisory firm in Lafayette, CA, registered since 2007, reporting $500 million to $1 billion in regulatory assets under management in its Form ADV filing dated March 6, 2026.

- CRD: 142917
- Filed as: GIFFORD FONG ASSOCIATES
- Registration: SEC-registered investment adviser (status as filed: Approved)
- Location: Lafayette, CA
- Filing period: October 2026
- Form ADV filing dated: March 6, 2026
- SEC record (IAPD): https://adviserinfo.sec.gov/firm/summary/142917
- AdvisorCensus page: https://advisorcensus.com/firm/gifford-fong-associates-lafayette-ca-142917

## Quick answers

**How is Gifford Fong Associates compensated?**
On its Form ADV (Item 5.E, October 2026), Gifford Fong Associates reports these compensation arrangements: a percentage of assets under its management.

**Where is Gifford Fong Associates located?**
Gifford Fong Associates' principal office is in Lafayette, CA, according to its Form ADV.

**Is Gifford Fong Associates registered with the SEC or a state?**
Gifford Fong Associates is an SEC-registered investment advisory firm, registered since 2007. Status as filed: Approved. CRD 142917.

**How much does Gifford Fong Associates manage?**
Gifford Fong Associates reports $516,963,144 in regulatory assets under management in its Form ADV filing dated March 6, 2026 (100% discretionary).

**How have Gifford Fong Associates' assets and staff changed since 2021?**
In the Form ADV data for Gifford Fong Associates: Regulatory assets under management: $432,440,676 in the October 2021 data and $516,963,144 in the October 2026 data, up 20%. Total employees: 12 in October 2021 and 10 in October 2026. Assets under management move with markets as well as with clients coming and going.

**What types of clients does Gifford Fong Associates serve?**
By number of clients on Form ADV Item 5.D: state or municipal government entities (including government pension plans) (1).

**Does Gifford Fong Associates 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/142917

**Does Gifford Fong Associates state an account minimum?**
Its Form ADV Part 2A brochure dated March 6, 2026 says: "Account Minimums $10 Million."

**What changed in Gifford Fong Associates' recent Form ADV filings?**
In the April 2026 filing data: Regulatory assets under management went from $418,639,154 to $516,963,144 (+23%).

## From the Form ADV filing

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

### Fees and minimums (Form ADV Part 2A brochure dated March 6, 2026)

- Account minimum: $10,000,000

> Account Minimums $10 Million.

As stated in the firm's brochure. Fees can differ by service and may be negotiable.

### Regulatory assets under management (Item 5.F)
- Total: $516,963,144
- Discretionary: $516,963,144
- Non-discretionary: $0

### Clients (Item 5.D)

| Client type | Clients | Assets |
| --- | --- | --- |
| State or municipal government entities (including government pension plans) | 1 | $516,963,144 |

### Advisory services (Item 5.G)
- Portfolio management for businesses (other than small businesses) or institutional clients

### Firm details
- Registered since: 2007 (19 years)
- Employees: 10 total, 5 performing advisory functions
- Wrap fee program participation: No
- States registered or notice-filed: CA
- Disclosures (Item 11): Reports no disclosure items on Form ADV Item 11.

### Websites listed on Form ADV (Item 1.I)
- gfong.com

## Assets and staff over time

| Data period | Regulatory assets under management | Employees | Filing dated |
| --- | --- | --- | --- |
| October 2021 | $432,440,676 | 12 | February 12, 2021 |
| October 2022 | $572,353,069 | 11 | January 25, 2022 |
| October 2023 | $438,095,900 | 10 | January 24, 2023 |
| October 2024 | $471,866,324 | 10 | January 29, 2024 |
| October 2025 | $418,639,154 | 10 | March 26, 2025 |
| October 2026 | $516,963,144 | 10 | March 6, 2026 |

Regulatory assets under management: $432,440,676 in the October 2021 data and $516,963,144 in the October 2026 data, up 20%.
Total employees: 12 in October 2021 and 10 in October 2026.

## Changes in the filing (last 12 months)

### April 2026
- Regulatory assets under management went from $418,639,154 to $516,963,144 (+23%).

## Source

Form ADV as filed, October 2026. Values appear as filed. Cite as: AdvisorCensus. Gifford Fong Associates (CRD 142917): Form ADV filing data as of October 2026.