# JAY A. Fishman, Ltd

> JAY A. Fishman, Ltd is an SEC-registered investment advisory firm in Troy, MI, registered since 1970, reporting $1 billion to $5 billion in regulatory assets under management in its Form ADV filing dated March 30, 2026.

- CRD: 105609
- Filed as: JAY A. FISHMAN, LTD
- Legal name: Fishman JAY a Ltd
- Registration: SEC-registered investment adviser (status as filed: Approved)
- Location: Troy, MI
- Filing period: October 2026
- Form ADV filing dated: March 30, 2026
- SEC record (IAPD): https://adviserinfo.sec.gov/firm/summary/105609
- AdvisorCensus page: https://advisorcensus.com/firm/jay-a-fishman-ltd-troy-mi-105609

## Quick answers

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

**What does JAY A. Fishman, Ltd's brochure say about its fees?**
Its Form ADV Part 2A brochure dated March 30, 2026 states: Up to $1,000,000: 1% a year; $1,000,000 to $5,000,000: 0.75% a year; Above $5,000,000: 0.5% a year. Fees can differ by service and may be negotiable; the brochure is the complete statement.

**Where is JAY A. Fishman, Ltd located?**
JAY A. Fishman, Ltd's principal office is in Troy, MI, according to its Form ADV; the April 2026 filing also lists 1 other office (Schedule D, Section 1.F).

**Is JAY A. Fishman, Ltd registered with the SEC or a state?**
JAY A. Fishman, Ltd is an SEC-registered investment advisory firm, registered since 1970. Status as filed: Approved. CRD 105609.

**How much does JAY A. Fishman, Ltd manage?**
JAY A. Fishman, Ltd reports $1,251,193,908 in regulatory assets under management in its Form ADV filing dated March 30, 2026 (100% discretionary).

**How have JAY A. Fishman, Ltd's assets and staff changed since 2021?**
In the Form ADV data for JAY A. Fishman, Ltd: Regulatory assets under management: $786,329,932 in the October 2021 data and $1,251,193,908 in the October 2026 data, up 59%. Total employees: 8 in October 2021 and 8 in October 2026. Assets under management move with markets as well as with clients coming and going.

**What types of clients does JAY A. Fishman, Ltd serve?**
By number of clients on Form ADV Item 5.D: individuals (other than high net worth individuals) (257); high net worth individuals (244); corporations or other businesses not listed above (18).

**Which custodians does JAY A. Fishman, Ltd use?**
JAY A. Fishman, Ltd'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 JAY A. Fishman, Ltd 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/105609

**Does JAY A. Fishman, Ltd state an account minimum?**
Its Form ADV Part 2A brochure dated March 30, 2026 says: "We normally require an aggregate minimum account size of $1,000,000."

**What changed in JAY A. Fishman, Ltd's recent Form ADV filings?**
In the April 2026 filing data: Regulatory assets under management went from $1,119,753,338 to $1,251,193,908 (+12%).

## 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 30, 2026)

- Up to $1,000,000: 1% a year
- $1,000,000 to $5,000,000: 0.75% a year
- Above $5,000,000: 0.5% a year

> 1.00% of the first $1,000,000 of portfolio market value 0.75% of the next $1,000,000 - $5,000,000 of portfolio market value 0.50% of the excess over $5 million of portfolio market value

- Account minimum: $1,000,000

> We normally require an aggregate minimum account size of $1,000,000.

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: $1,251,193,908
- Discretionary: $1,251,193,908
- Non-discretionary: $0

### Clients (Item 5.D)

| Client type | Clients | Assets |
| --- | --- | --- |
| Individuals (other than high net worth individuals) | 257 | $39,601,893 |
| High net worth individuals | 244 | $1,052,652,064 |
| Banking or thrift institutions | 0 | Not reported |
| 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) | 13 | $76,368,254 |
| Charitable organizations | 5 | $26,731,940 |
| State or municipal government entities (including government pension plans) | 0 | Not reported |
| Other investment advisers | 0 | Not reported |
| Insurance companies | 0 | Not reported |
| Sovereign wealth funds and foreign official institutions | 0 | Not reported |
| Corporations or other businesses not listed above | 18 | $55,839,757 |
| Other | 0 | Not reported |

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

### Firm details
- Registered since: 1970 (56 years)
- Employees: 8 total, 4 performing advisory functions
- Wrap fee program participation: No
- States registered or notice-filed: AZ, CA, FL, IL, LA, MI, NC, NY, PA, SC, TN, TX, VA
- 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
- Palm Beach Gardens, FL

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

## Assets and staff over time

| Data period | Regulatory assets under management | Employees | Filing dated |
| --- | --- | --- | --- |
| October 2021 | $786,329,932 | 8 | March 26, 2021 |
| October 2022 | $1,013,321,883 | 9 | March 23, 2022 |
| October 2023 | $781,898,399 | 9 | March 22, 2023 |
| October 2024 | $959,093,701 | 8 | March 21, 2024 |
| October 2025 | $1,119,753,338 | 8 | July 22, 2025 |
| October 2026 | $1,251,193,908 | 8 | March 30, 2026 |

Regulatory assets under management: $786,329,932 in the October 2021 data and $1,251,193,908 in the October 2026 data, up 59%.
Total employees: 8 in October 2021 and 8 in October 2026.

## Changes in the filing (last 12 months)

### April 2026
- Regulatory assets under management went from $1,119,753,338 to $1,251,193,908 (+12%).

## Source

Form ADV as filed, October 2026. Values appear as filed. Cite as: AdvisorCensus. JAY A. Fishman, Ltd (CRD 105609): Form ADV filing data as of October 2026.