# Heffernan Advisory, Inc.

> Heffernan Advisory, Inc. is an SEC-registered investment advisory firm in Flagstaff, AZ, registered since 2006, reporting $100 million to $500 million in regulatory assets under management in its Form ADV filing dated August 6, 2026.

- CRD: 116771
- Filed as: HEFFERNAN ADVISORY, INC.
- Also doing business as: HEFFERNAN FINANCIAL
- Registration: SEC-registered investment adviser (status as filed: Approved)
- Location: Flagstaff, AZ
- Filing period: October 2026
- Form ADV filing dated: August 6, 2026
- SEC record (IAPD): https://adviserinfo.sec.gov/firm/summary/116771
- AdvisorCensus page: https://advisorcensus.com/firm/heffernan-advisory-inc-flagstaff-az-116771

## Quick answers

**How is Heffernan Advisory, Inc. compensated?**
On its Form ADV (Item 5.E, October 2026), Heffernan Advisory, Inc. reports these compensation arrangements: a percentage of assets under its management; fixed fees (other than subscription fees); other.

**Where is Heffernan Advisory, Inc. located?**
Heffernan Advisory, Inc.'s principal office is in Flagstaff, AZ, according to its Form ADV; the September 2026 filing also lists 3 other offices (Schedule D, Section 1.F).

**Is Heffernan Advisory, Inc. registered with the SEC or a state?**
Heffernan Advisory, Inc. is an SEC-registered investment advisory firm, registered since 2006. Status as filed: Approved. CRD 116771.

**How much does Heffernan Advisory, Inc. manage?**
Heffernan Advisory, Inc. reports $409,585,443 in regulatory assets under management in its Form ADV filing dated August 6, 2026 (100% discretionary).

**How have Heffernan Advisory, Inc.'s assets and staff changed since 2021?**
In the Form ADV data for Heffernan Advisory, Inc.: Regulatory assets under management: $257,576,137 in the October 2021 data and $409,585,443 in the October 2026 data, up 59%. Total employees: 11 in October 2021 and 12 in October 2026. Assets under management move with markets as well as with clients coming and going.

**What types of clients does Heffernan Advisory, Inc. serve?**
By number of clients on Form ADV Item 5.D: individuals (other than high net worth individuals) (182); high net worth individuals (165); pension and profit sharing plans (but not the plan participants or government pension plans) (5).

**Which custodians does Heffernan Advisory, Inc. use?**
Heffernan Advisory, Inc.'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 Heffernan Advisory, Inc. 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/116771

**Does Heffernan Advisory, Inc. state an account minimum?**
Its Form ADV Part 2A brochure dated June 11, 2026 says: "Heffernan Advisory does not maintain any minimum fee or minimum asset requirements."

**What changed in Heffernan Advisory, Inc.'s recent Form ADV filings?**
In the September 2026 filing data: Registered or notice-filed in NY.

## From the Form ADV filing

### Compensation (Item 5.E)
- A percentage of assets under your management
- Fixed fees (other than subscription fees)
- Other

### Fees and minimums (Form ADV Part 2A brochure dated June 11, 2026)

- Account minimum: None

> Heffernan Advisory does not maintain any minimum fee or minimum asset requirements.

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

### 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: $409,585,443
- Discretionary: $409,585,443
- Non-discretionary: $0

### Clients (Item 5.D)

| Client type | Clients | Assets |
| --- | --- | --- |
| Individuals (other than high net worth individuals) | 182 | $77,508,470 |
| High net worth individuals | 165 | $323,075,034 |
| Pension and profit sharing plans (but not the plan participants or government pension plans) | 5 | $6,123,848 |
| Corporations or other businesses not listed above | 5 | $2,878,091 |

### Advisory services (Item 5.G)
- Financial planning services
- Portfolio management for individuals and/or small businesses
- Pension consulting services
- Selection of other advisers (including private fund managers)

### Firm details
- Registered since: 2006 (20 years)
- Employees: 12 total, 5 performing advisory functions
- Wrap fee program participation: No
- States registered or notice-filed: AZ, CA, CO, NH, NY, OR, TX, WA
- Disclosures (Item 11): Reports no disclosure items on Form ADV Item 11.

### Other offices (Schedule D, Section 1.F), as of the September 2026 filing
- Mesa, AZ
- Phoenix, AZ
- Walnut Creek, CA

### Websites listed on Form ADV (Item 1.I)
- [heffernanfinancial.com](https://heffernanfinancial.com)
- LinkedIn @heffernan-financial

## Assets and staff over time

| Data period | Regulatory assets under management | Employees | Filing dated |
| --- | --- | --- | --- |
| October 2021 | $257,576,137 | 11 | February 18, 2021 |
| October 2022 | $318,586,684 | 11 | April 4, 2022 |
| October 2023 | $259,208,620 | 11 | June 21, 2023 |
| October 2024 | $295,004,264 | 10 | February 26, 2024 |
| October 2025 | $315,874,872 | 11 | March 7, 2025 |
| October 2026 | $409,585,443 | 12 | August 6, 2026 |

Regulatory assets under management: $257,576,137 in the October 2021 data and $409,585,443 in the October 2026 data, up 59%.
Total employees: 11 in October 2021 and 12 in October 2026.

## Changes in the filing (last 12 months)

### September 2026
- Registered or notice-filed in NY.

### August 2026
- Registered or notice-filed in WA.

### July 2026
- Added an office in Walnut Creek, CA.

### April 2026
- Employees performing advisory functions went from 4 to 5.
- Regulatory assets under management went from $315,874,872 to $409,585,443 (+30%).
- No longer lists an office in Overland Park, KS.
- Registered or notice-filed in NH.
- Updated its list of owners and control persons (Schedule A).

### January 2026
- Added the business name Heffernan Financial.
- Changed its legal name from Ascendant Financial Solutions, Inc. to Heffernan Advisory, Inc..

## Source

Form ADV as filed, October 2026. Values appear as filed. Cite as: AdvisorCensus. Heffernan Advisory, Inc. (CRD 116771): Form ADV filing data as of October 2026.