# Highland Consulting Associates Inc.

> Highland Consulting Associates Inc. is an SEC-registered investment advisory firm in Cleveland, OH, registered since 1994, reporting over $5 billion in regulatory assets under management in its Form ADV filing dated March 18, 2026.

- CRD: 109834
- Filed as: HIGHLAND CONSULTING ASSOCIATES INC.
- Registration: SEC-registered investment adviser (status as filed: Approved)
- Location: Cleveland, OH
- Filing period: October 2026
- Form ADV filing dated: March 18, 2026
- SEC record (IAPD): https://adviserinfo.sec.gov/firm/summary/109834
- AdvisorCensus page: https://advisorcensus.com/firm/highland-consulting-associates-inc-cleveland-oh-109834

## Quick answers

**How is Highland Consulting Associates Inc. compensated?**
On its Form ADV (Item 5.E, October 2026), Highland Consulting Associates Inc. reports these compensation arrangements: a percentage of assets under its management; hourly charges; fixed fees (other than subscription fees). The amounts are in Item 5 of its Form ADV Part 2A brochure.

**Where is Highland Consulting Associates Inc. located?**
Highland Consulting Associates Inc.'s principal office is in Cleveland, OH, according to its Form ADV.

**Is Highland Consulting Associates Inc. registered with the SEC or a state?**
Highland Consulting Associates Inc. is an SEC-registered investment advisory firm, registered since 1994. Status as filed: Approved. CRD 109834.

**How much does Highland Consulting Associates Inc. manage?**
Highland Consulting Associates Inc. reports $21,929,961,838 in regulatory assets under management in its Form ADV filing dated March 18, 2026 (3% discretionary).

**How have Highland Consulting Associates Inc.'s assets and staff changed since 2021?**
In the Form ADV data for Highland Consulting Associates Inc.: Regulatory assets under management: $17,014,432,812 in the October 2021 data and $21,929,961,838 in the October 2026 data, up 29%. Total employees: 25 in October 2021 and 28 in October 2026. Assets under management move with markets as well as with clients coming and going.

**What types of clients does Highland Consulting Associates Inc. serve?**
By number of clients on Form ADV Item 5.D: pension and profit sharing plans (but not the plan participants or government pension plans) (97); high net worth individuals (39); charitable organizations (18).

**Which custodians does Highland Consulting Associates Inc. use?**
Highland Consulting Associates Inc.'s most recent Form ADV filing (Schedule D, Section 5.K(3)) lists Fidelity and Vanguard Group [Malvern, PA] as custodians holding 10% or more of its separately managed account assets.

**Does Highland Consulting Associates 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/109834

**What changed in Highland Consulting Associates Inc.'s recent Form ADV filings?**
In the April 2026 filing data: Employees performing advisory functions went from 19 to 17. Registered or notice-filed in IN, KY.

## From the Form ADV filing

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

### Custodians (Schedule D, Section 5.K(3))
- Fidelity
- Vanguard Group [Malvern, PA]

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: $21,929,961,838
- Discretionary: $608,960,943
- Non-discretionary: $21,321,000,895

### Clients (Item 5.D)

| Client type | Clients | Assets |
| --- | --- | --- |
| Individuals (other than high net worth individuals) | 5 | $3,277,149 |
| High net worth individuals | 39 | $309,451,515 |
| 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) | 97 | $19,713,924,812 |
| Charitable organizations | 18 | $1,537,538,372 |
| State or municipal government entities (including government pension plans) | 0 | $0 |
| Other investment advisers | 0 | $0 |
| Insurance companies | 1 | $10,489,083 |
| Sovereign wealth funds and foreign official institutions | 0 | $0 |
| Corporations or other businesses not listed above | 7 | $355,280,907 |

### 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
- Pension consulting services
- Selection of other advisers (including private fund managers)
- Educational seminars/workshops

### Firm details
- Registered since: 1994 (32 years)
- Employees: 28 total, 17 performing advisory functions
- Wrap fee program participation: No
- States registered or notice-filed: FL, IN, KY, MI, OH, PA, TX
- Disclosures (Item 11): Reports no disclosure items on Form ADV Item 11.

### Websites listed on Form ADV (Item 1.I)
- [highlandusa.net](https://highlandusa.net)
- LinkedIn @HIGHLAND-CONSULTING-ASSOCIATES-INC-

## Assets and staff over time

| Data period | Regulatory assets under management | Employees | Filing dated |
| --- | --- | --- | --- |
| October 2021 | $17,014,432,812 | 25 | March 16, 2021 |
| October 2022 | $17,373,490,222 | 26 | March 14, 2022 |
| October 2023 | $15,697,224,104 | 28 | September 18, 2023 |
| October 2024 | $17,835,470,311 | 31 | March 18, 2024 |
| October 2025 | $20,238,033,168 | 28 | July 22, 2025 |
| October 2026 | $21,929,961,838 | 28 | March 18, 2026 |

Regulatory assets under management: $17,014,432,812 in the October 2021 data and $21,929,961,838 in the October 2026 data, up 29%.
Total employees: 25 in October 2021 and 28 in October 2026.

## Changes in the filing (last 12 months)

### April 2026
- Employees performing advisory functions went from 19 to 17.
- Registered or notice-filed in IN, KY.

## Source

Form ADV as filed, October 2026. Values appear as filed. Cite as: AdvisorCensus. Highland Consulting Associates Inc. (CRD 109834): Form ADV filing data as of October 2026.