# L & B Realty Advisors, LLP

> 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.

- CRD: 136654
- Filed as: L & B REALTY ADVISORS, LLP
- Registration: SEC-registered investment adviser (status as filed: Approved)
- Location: Dallas, TX
- Filing period: October 2026
- Form ADV filing dated: March 20, 2026
- SEC record (IAPD): https://adviserinfo.sec.gov/firm/summary/136654
- AdvisorCensus page: https://advisorcensus.com/firm/l-and-b-realty-advisors-llp-dallas-tx-136654

## Quick answers

**How is L & B Realty Advisors, LLP compensated?**
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.

**Where is L & B Realty Advisors, LLP located?**
L & B Realty Advisors, LLP's principal office is in Dallas, TX, according to its Form ADV.

**Is L & B Realty Advisors, LLP registered with the SEC or a state?**
L & B Realty Advisors, LLP is an SEC-registered investment advisory firm, registered since 2005. Status as filed: Approved. CRD 136654.

**How much does L & B Realty Advisors, LLP manage?**
L & B Realty Advisors, LLP reports $218,557 in regulatory assets under management in its Form ADV filing dated March 20, 2026 (100% discretionary).

**How have L & B Realty Advisors, LLP's assets and staff changed since 2021?**
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.

**What types of clients does L & B Realty Advisors, LLP serve?**
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).

**Does L & B Realty Advisors, LLP 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/136654

**What changed in L & B Realty Advisors, LLP's recent Form ADV filings?**
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%).

## From the Form ADV filing

### Compensation (Item 5.E)
- A percentage of assets under your management
- Performance-based fees

### Regulatory assets under management (Item 5.F)
- Total: $218,557
- Discretionary: $218,557
- Non-discretionary: $0

### Clients (Item 5.D)

| Client type | Clients | Assets |
| --- | --- | --- |
| High net worth individuals | 1 | Not reported |
| Pooled investment vehicles (other than investment companies and business development companies) | 1 | $218,557 |
| Pension and profit sharing plans (but not the plan participants or government pension plans) | 3 | Not reported |
| State or municipal government entities (including government pension plans) | 6 | Not reported |
| Other investment advisers | 1 | Not reported |

### Advisory services (Item 5.G)
- Portfolio management for pooled investment vehicles (other than investment companies)
- Portfolio management for businesses (other than small businesses) or institutional clients
- Pension consulting services

### Firm details
- Registered since: 2005 (21 years)
- Employees: 70 total, 55 performing advisory functions
- Wrap fee program participation: No
- States registered or notice-filed: TX
- Disclosures (Item 11): Reports no disclosure items on Form ADV Item 11.

### Websites listed on Form ADV (Item 1.I)
- lbrealty.com
- LinkedIn @l&b-realty-advisors-llp

## Assets and staff over time

| Data period | Regulatory assets under management | Employees | Filing dated |
| --- | --- | --- | --- |
| October 2021 | $271,045,553 | 86 | March 31, 2021 |
| October 2022 | $146,310,630 | 67 | March 31, 2022 |
| October 2023 | $3,129,849 | 71 | March 29, 2023 |
| October 2024 | $177,379 | 82 | March 27, 2024 |
| October 2025 | $265,111 | 85 | March 27, 2025 |
| October 2026 | $218,557 | 70 | March 20, 2026 |

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.

## Changes in the filing (last 12 months)

### April 2026
- Employees performing advisory functions went from 56 to 55.
- Regulatory assets under management went from $265,111 to $218,557 (-18%).

## Source

Form ADV as filed, October 2026. Values appear as filed. Cite as: AdvisorCensus. L & B Realty Advisors, LLP (CRD 136654): Form ADV filing data as of October 2026.