# Lehmann, Livian, Fridson Advisors, LLC

> Lehmann, Livian, Fridson Advisors, LLC is an SEC-registered investment advisory firm in New York, NY, registered since 2014, reporting $25 million to $100 million in regulatory assets under management in its Form ADV filing dated April 30, 2026.

- CRD: 169980
- Filed as: LEHMANN, LIVIAN, FRIDSON ADVISORS, LLC
- Also doing business as: LLFA
- Registration: SEC-registered investment adviser (status as filed: Approved)
- Location: New York, NY
- Filing period: October 2026
- Form ADV filing dated: April 30, 2026
- SEC record (IAPD): https://adviserinfo.sec.gov/firm/summary/169980
- AdvisorCensus page: https://advisorcensus.com/firm/lehmann-livian-fridson-advisors-llc-new-york-ny-169980

## Quick answers

**How is Lehmann, Livian, Fridson Advisors, LLC compensated?**
On its Form ADV (Item 5.E, October 2026), Lehmann, Livian, Fridson Advisors, LLC reports these compensation arrangements: a percentage of assets under its management.

**Where is Lehmann, Livian, Fridson Advisors, LLC located?**
Lehmann, Livian, Fridson Advisors, LLC's principal office is in New York, NY, according to its Form ADV.

**Is Lehmann, Livian, Fridson Advisors, LLC registered with the SEC or a state?**
Lehmann, Livian, Fridson Advisors, LLC is an SEC-registered investment advisory firm, registered since 2014. Status as filed: Approved. CRD 169980.

**How much does Lehmann, Livian, Fridson Advisors, LLC manage?**
Lehmann, Livian, Fridson Advisors, LLC reports $84,180,932 in regulatory assets under management in its Form ADV filing dated April 30, 2026 (95% discretionary).

**How have Lehmann, Livian, Fridson Advisors, LLC's assets and staff changed since 2021?**
In the Form ADV data for Lehmann, Livian, Fridson Advisors, LLC: Regulatory assets under management: $75,702,015 in the October 2021 data and $84,180,932 in the October 2026 data, up 11%. Total employees: 2 in October 2021 and 2 in October 2026. Assets under management move with markets as well as with clients coming and going.

**What types of clients does Lehmann, Livian, Fridson Advisors, LLC serve?**
By number of clients on Form ADV Item 5.D: high net worth individuals (51); corporations or other businesses not listed above (2).

**Which custodians does Lehmann, Livian, Fridson Advisors, LLC use?**
Lehmann, Livian, Fridson Advisors, LLC's most recent Form ADV filing (Schedule D, Section 5.K(3)) lists Charles Schwab & Co., Inc. and Fidelity Brokerage Services LLC as custodians holding 10% or more of its separately managed account assets.

**Does Lehmann, Livian, Fridson Advisors, LLC 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/169980

**Does Lehmann, Livian, Fridson Advisors, LLC state an account minimum?**
Its Form ADV Part 2A brochure dated April 6, 2026 says: "A minimum of $500,000 of assets under management is required for the services above." "In order to open and maintain an account we require a minimum account size of $500,000."

**What changed in Lehmann, Livian, Fridson Advisors, LLC's recent Form ADV filings?**
In the April 2026 filing data: No longer lists the business name Livx Digital Investment Portfolios. Regulatory assets under management went from $67,292,680 to $84,180,932 (+25%).

## 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 April 6, 2026)

- Account minimum: $500,000

> A minimum of $500,000 of assets under management is required for the services above.

> In order to open and maintain an account we require a minimum account size of $500,000.

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.
- Fidelity Brokerage Services LLC

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: $84,180,932
- Discretionary: $80,084,655
- Non-discretionary: $4,096,277

### Clients (Item 5.D)

| Client type | Clients | Assets |
| --- | --- | --- |
| Individuals (other than high net worth individuals) | 0 | Not reported |
| High net worth individuals | 51 | $83,606,541 |
| Banking or thrift institutions | 0 | Not reported |
| Investment companies | 0 | Not reported |
| Business development companies | 0 | Not reported |
| Pooled investment vehicles (other than investment companies and business development companies) | 0 | Not reported |
| Pension and profit sharing plans (but not the plan participants or government pension plans) | 0 | Not reported |
| Charitable organizations | 0 | Not reported |
| 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 | 2 | $574,391 |
| Other | 0 | Not reported |

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

### Firm details
- Registered since: 2014 (12 years)
- Employees: 2 total, 2 performing advisory functions
- Wrap fee program participation: No
- States registered or notice-filed: CA, FL, NY, TX
- Disclosures (Item 11): Reports no disclosure items on Form ADV Item 11.

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

## Assets and staff over time

| Data period | Regulatory assets under management | Employees | Filing dated |
| --- | --- | --- | --- |
| October 2021 | $75,702,015 | 2 | March 25, 2021 |
| October 2022 | $88,416,311 | 2 | March 30, 2022 |
| October 2023 | $79,237,814 | 2 | March 28, 2023 |
| October 2024 | $81,016,538 | 2 | April 22, 2024 |
| October 2025 | $67,292,680 | 2 | May 1, 2025 |
| October 2026 | $84,180,932 | 2 | April 30, 2026 |

Regulatory assets under management: $75,702,015 in the October 2021 data and $84,180,932 in the October 2026 data, up 11%.
Total employees: 2 in October 2021 and 2 in October 2026.

## Changes in the filing (last 12 months)

### April 2026
- No longer lists the business name Livx Digital Investment Portfolios.
- Regulatory assets under management went from $67,292,680 to $84,180,932 (+25%).

## Source

Form ADV as filed, October 2026. Values appear as filed. Cite as: AdvisorCensus. Lehmann, Livian, Fridson Advisors, LLC (CRD 169980): Form ADV filing data as of October 2026.