# Investor FAN

> Investor FAN is an SEC-registered investment advisory firm, registered since 2017, reporting $500 million to $1 billion in regulatory assets under management in its Form ADV filing dated March 20, 2026.

- CRD: 159301
- Filed as: INVESTOR FAN
- Legal name: Investor's Fiduciary Advisor Network, LLC
- Also doing business as: BOWHAY INVESTMENTS, DONIVAN WEALTH MANAGEMENT, INVESTOR FAN, LIFE FIRST FINANCIAL PLANNING, LLC, MARGO PORTER PANFILI, RETIREMENT RISK MANAGERS, SHERPA WEALTH STRATEGIES, VISIBLE WEALTH PLANNING
- Registration: SEC-registered investment adviser (status as filed: Approved)
- Filing period: October 2026
- Form ADV filing dated: March 20, 2026
- SEC record (IAPD): https://adviserinfo.sec.gov/firm/summary/159301
- AdvisorCensus page: https://advisorcensus.com/firm/investor-fan-159301

## Quick answers

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

**What does Investor FAN's brochure say about its fees?**
Its Form ADV Part 2A brochure dated March 20, 2026 states: Asset-based fee: up to 2% of assets a year (the maximum the brochure states). Fees can differ by service and may be negotiable; the brochure is the complete statement.

**Is Investor FAN registered with the SEC or a state?**
Investor FAN is an SEC-registered investment advisory firm, registered since 2017. Status as filed: Approved. CRD 159301.

**How much does Investor FAN manage?**
Investor FAN reports $787,414,298 in regulatory assets under management in its Form ADV filing dated March 20, 2026 (100% discretionary).

**How have Investor FAN's assets and staff changed since 2021?**
In the Form ADV data for Investor FAN: Regulatory assets under management: $173,876,436 in the October 2021 data and $787,414,298 in the October 2026 data, up 353%. Total employees: 8 in October 2021 and 18 in October 2026. Assets under management move with markets as well as with clients coming and going.

**What types of clients does Investor FAN serve?**
By number of clients on Form ADV Item 5.D: individuals (other than high net worth individuals) (639); high net worth individuals (235); charitable organizations (7).

**Which custodians does Investor FAN use?**
Investor FAN'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 Investor FAN 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/159301

**What changed in Investor FAN's recent Form ADV filings?**
In the April 2026 filing data: Employees performing advisory functions went from 15 to 16. Regulatory assets under management went from $427,729,824 to $787,414,298 (+84%).

## From the Form ADV filing

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

### Fees and minimums (Form ADV Part 2A brochure dated March 20, 2026)

- Asset-based fee: up to 2% of assets a year (the maximum the brochure states)

> The Advisor Fee can be flat, fixed or based on a schedule as noted in the Agreement, but in no case does the Advisory Fee exceed 2%.

> Retirement Advisory Fees are based on a percentage of managed plan assets and will not exceed 2.00%.

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: $787,414,298
- Discretionary: $787,414,298
- Non-discretionary: $0

### Clients (Item 5.D)

| Client type | Clients | Assets |
| --- | --- | --- |
| Individuals (other than high net worth individuals) | 639 | $213,469,823 |
| High net worth individuals | 235 | $571,887,923 |
| Charitable organizations | 7 | $1,519,484 |
| Corporations or other businesses not listed above | 6 | $537,068 |

### Advisory services (Item 5.G)
- Portfolio management for individuals and/or small businesses

### Firm details
- Registered since: 2017 (9 years)
- Employees: 18 total, 16 performing advisory functions
- Wrap fee program participation: No
- States registered or notice-filed: AZ, CA, GA, HI, ID, IN, LA, MT, NV, NY, OR, PA, TX, UT, VA, WA
- Disclosures (Item 11): Reports no disclosure items on Form ADV Item 11.

### Other offices (Schedule D, Section 1.F), as of the April 2026 filing
- Bend, OR
- Charlottesville, VA
- La Grande, OR
- Las Vegas, NV
- Moraga, CA

### Websites listed on Form ADV (Item 1.I)
- bowhayinvestments.com
- facebook.com.sherpawealthstrategies
- investorfan.com
- investorsfiduciaryadvisornetwork.com
- panfili-financial.com
- retirementriskmanagers.com
- sherpawealthstrategies.com
- steelheadwealth.com
- teachinvest.com
- thewaytoinvest.com
- visiblewealthplanning.com
- visiblewp.com

## Assets and staff over time

| Data period | Regulatory assets under management | Employees | Filing dated |
| --- | --- | --- | --- |
| October 2021 | $173,876,436 | 8 | March 16, 2021 |
| October 2022 | $229,175,691 | 9 | February 2, 2022 |
| October 2023 | $186,163,454 | 8 | October 4, 2023 |
| October 2024 | $255,405,413 | 12 | August 9, 2024 |
| October 2025 | $427,729,824 | 13 | May 13, 2025 |
| October 2026 | $787,414,298 | 18 | March 20, 2026 |

Regulatory assets under management: $173,876,436 in the October 2021 data and $787,414,298 in the October 2026 data, up 353%.
Total employees: 8 in October 2021 and 18 in October 2026.

## Changes in the filing (last 12 months)

### April 2026
- Employees performing advisory functions went from 15 to 16.
- Regulatory assets under management went from $427,729,824 to $787,414,298 (+84%).

### March 2026
- No longer lists the business name Steelhead Wealth Management, LLC.
- Added the business name Life First Financial Planning, LLC.
- Employees performing advisory functions went from 14 to 15.
- No longer lists an office in Glen Allen, VA.
- Registered or notice-filed in GA.

### February 2026
- Employees performing advisory functions went from 13 to 14.

### January 2026
- Added the business name Visible Wealth Planning.
- Added an office in Charlottesville, VA.
- Registered or notice-filed in NY.

### December 2025
- No longer lists the business name Panfili Financial Services, Inc..
- Added the business name Steelhead Wealth Management, LLC.
- Employees performing advisory functions went from 11 to 13.
- Added an office in Glen Allen, VA.
- Registered or notice-filed in VA.

## Source

Form ADV as filed, October 2026. Values appear as filed. Cite as: AdvisorCensus. Investor FAN (CRD 159301): Form ADV filing data as of October 2026.