{
  "crd_number": 136654,
  "slug": "l-and-b-realty-advisors-llp-dallas-tx-136654",
  "primary_business_name": "L & B REALTY ADVISORS, LLP",
  "legal_name": "L & B REALTY ADVISORS, LLP",
  "dbas": [],
  "city": "Dallas",
  "state": "TX",
  "country": "United States",
  "cbsa_code": "19100",
  "metro": {
    "cbsa_code": "19100",
    "common_name": "Dallas",
    "msa_name": "Dallas-Fort Worth-Arlington, TX",
    "path": "/advisors/tx/dallas"
  },
  "registration_type": "sec",
  "registration_status": "Approved",
  "registration_date": "2005-08-31",
  "years_registered": 21,
  "period": "2026-10-01",
  "filing_date": "2026-03-20",
  "carried_forward": false,
  "raum_total": 218557.0,
  "raum_discretionary": 218557.0,
  "raum_non_discretionary": 0.0,
  "raum_band": "under_25m",
  "raum_band_label": "Under $25 million",
  "total_employees": 70,
  "advisory_employees": 55,
  "client_count_bucket": null,
  "clients_by_type": {
    "state_municipal": {
      "raum": null,
      "count": 6
    },
    "pension_profit_sharing": {
      "raum": null,
      "count": 3
    },
    "other_investment_advisers": {
      "raum": null,
      "count": 1
    },
    "high_net_worth_individuals": {
      "raum": null,
      "count": 1
    },
    "pooled_investment_vehicles": {
      "raum": 218557.0,
      "count": 1
    }
  },
  "compensation_types": [
    "percentage_of_aum",
    "performance_based"
  ],
  "advisory_activities": [
    "pension_consulting",
    "portfolio_management_businesses_institutional",
    "portfolio_management_pooled_vehicles"
  ],
  "wrap_fee_participant": false,
  "disclosure_yes_count": 0,
  "states_registered": [
    "TX"
  ],
  "websites": [
    "https://lbrealty.com",
    "https://linkedin.com/company/l&b-realty-advisors-llp"
  ],
  "iapd_url": "https://adviserinfo.sec.gov/firm/summary/136654",
  "city_as_filed": "DALLAS",
  "url": "https://advisorcensus.com/firm/l-and-b-realty-advisors-llp-dallas-tx-136654",
  "display_name": "L & B Realty Advisors, LLP",
  "summary": "L & B Realty Advisors, LLP is an SEC-registered investment advisory firm in Dallas, TX, registered since 2005, reporting under $25 million in regulatory assets under management in its Form ADV filing dated March 20, 2026.",
  "citation": "AdvisorCensus. L & B Realty Advisors, LLP (CRD 136654): Form ADV filing data as of October 2026.",
  "registration_type_label": "SEC-registered investment adviser",
  "compensation_labels": [
    "A percentage of assets under your management",
    "Performance-based fees"
  ],
  "advisory_activity_labels": [
    "Portfolio management for pooled investment vehicles (other than investment companies)",
    "Portfolio management for businesses (other than small businesses) or institutional clients",
    "Pension consulting services"
  ],
  "quick_answers": [
    {
      "q": "How is L & B Realty Advisors, LLP compensated?",
      "a": "On its Form ADV (Item 5.E, October 2026), L & B Realty Advisors, LLP reports these compensation arrangements: a percentage of assets under its management; performance-based fees."
    },
    {
      "q": "Where is L & B Realty Advisors, LLP located?",
      "a": "L & B Realty Advisors, LLP's principal office is in Dallas, TX, according to its Form ADV."
    },
    {
      "q": "Is L & B Realty Advisors, LLP registered with the SEC or a state?",
      "a": "L & B Realty Advisors, LLP is an SEC-registered investment advisory firm, registered since 2005. Status as filed: Approved. CRD 136654."
    },
    {
      "q": "How much does L & B Realty Advisors, LLP manage?",
      "a": "L & B Realty Advisors, LLP reports $218,557 in regulatory assets under management in its Form ADV filing dated March 20, 2026 (100% discretionary)."
    },
    {
      "q": "How have L & B Realty Advisors, LLP's assets and staff changed since 2021?",
      "a": "In the Form ADV data for L & B Realty Advisors, LLP: Regulatory assets under management: $271,045,553 in the October 2021 data and $218,557 in the October 2026 data, down 100%. Total employees: 86 in October 2021 and 70 in October 2026. Assets under management move with markets as well as with clients coming and going."
    },
    {
      "q": "What types of clients does L & B Realty Advisors, LLP serve?",
      "a": "By number of clients on Form ADV Item 5.D: state or municipal government entities (including government pension plans) (6); pension and profit sharing plans (but not the plan participants or government pension plans) (3); high net worth individuals (1)."
    },
    {
      "q": "Does L & B Realty Advisors, LLP report any disciplinary disclosures?",
      "a": "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/136654"
    },
    {
      "q": "What changed in L & B Realty Advisors, LLP's recent Form ADV filings?",
      "a": "In the April 2026 filing data: Employees performing advisory functions went from 56 to 55. Regulatory assets under management went from $265,111 to $218,557 (-18%)."
    }
  ],
  "filing_history": [
    {
      "period": "2021-10-01",
      "regulatory_assets_under_management": 271045553.0,
      "total_employees": 86,
      "filing_date": "2021-03-31"
    },
    {
      "period": "2022-10-01",
      "regulatory_assets_under_management": 146310630.0,
      "total_employees": 67,
      "filing_date": "2022-03-31"
    },
    {
      "period": "2023-10-01",
      "regulatory_assets_under_management": 3129849.0,
      "total_employees": 71,
      "filing_date": "2023-03-29"
    },
    {
      "period": "2024-10-01",
      "regulatory_assets_under_management": 177379.0,
      "total_employees": 82,
      "filing_date": "2024-03-27"
    },
    {
      "period": "2025-10-01",
      "regulatory_assets_under_management": 265111.0,
      "total_employees": 85,
      "filing_date": "2025-03-27"
    },
    {
      "period": "2026-10-01",
      "regulatory_assets_under_management": 218557.0,
      "total_employees": 70,
      "filing_date": "2026-03-20"
    }
  ],
  "recent_changes": [
    {
      "period": "2026-04-01",
      "period_label": "April 2026",
      "notes": [
        "Employees performing advisory functions went from 56 to 55.",
        "Regulatory assets under management went from $265,111 to $218,557 (-18%)."
      ]
    }
  ],
  "fees_from_brochure": null,
  "custodians": [],
  "custodians_note": null,
  "markdown_url": "https://advisorcensus.com/firm/l-and-b-realty-advisors-llp-dallas-tx-136654.md",
  "clients": [
    {
      "type": "high_net_worth_individuals",
      "label": "High net worth individuals",
      "count": 1,
      "fewer_than_5": false,
      "raum": null
    },
    {
      "type": "pooled_investment_vehicles",
      "label": "Pooled investment vehicles (other than investment companies and business development companies)",
      "count": 1,
      "fewer_than_5": false,
      "raum": 218557.0
    },
    {
      "type": "pension_profit_sharing",
      "label": "Pension and profit sharing plans (but not the plan participants or government pension plans)",
      "count": 3,
      "fewer_than_5": false,
      "raum": null
    },
    {
      "type": "state_municipal",
      "label": "State or municipal government entities (including government pension plans)",
      "count": 6,
      "fewer_than_5": false,
      "raum": null
    },
    {
      "type": "other_investment_advisers",
      "label": "Other investment advisers",
      "count": 1,
      "fewer_than_5": false,
      "raum": null
    }
  ],
  "disclosure_line": "Reports no disclosure items on Form ADV Item 11.",
  "disclosure_items": [],
  "indexable": true,
  "suppressed": false,
  "claimed": false,
  "enhanced": false,
  "provided_by_the_firm": null,
  "source": {
    "name": "Form ADV",
    "as_of": "2026-10-01",
    "iapd_url": "https://adviserinfo.sec.gov/firm/summary/136654",
    "operator": "BH Monitor Services, LLC",
    "license": "https://creativecommons.org/licenses/by/4.0/",
    "credit": "AdvisorCensus (advisorcensus.com), from SEC Form ADV data"
  }
}