AdvisorCensus / Financial advisors / LFA
LFA is an SEC-registered investment advisory firm in Lugano - Ticino, Switzerland, registered since 2010, reporting $1 billion to $5 billion in regulatory assets under management in its Form ADV filing dated August 24, 2026.
Quick answers
From the filingHow is LFA compensated?
On its Form ADV (Item 5.E, October 2026), LFA reports these compensation arrangements: a percentage of assets under its management; hourly charges; fixed fees (other than subscription fees); performance-based fees.
Where is LFA located?
LFA's principal office is in Lugano - Ticino, Switzerland, according to its Form ADV; the September 2026 filing also lists 2 other offices (Schedule D, Section 1.F).
Is LFA registered with the SEC or a state?
LFA is an SEC-registered investment advisory firm, registered since 2010. Status as filed: Approved. CRD 152864.
How much does LFA manage?
LFA reports $1,090,049,962 in regulatory assets under management in its Form ADV filing dated August 24, 2026 (52% discretionary).
How have LFA's assets and staff changed since 2021?
In the Form ADV data for LFA: Regulatory assets under management: $892,961,704 in the October 2021 data and $1,090,049,962 in the October 2026 data, up 22%. Total employees: 12 in October 2021 and 11 in October 2026. Assets under management move with markets as well as with clients coming and going.
What types of clients does LFA serve?
By number of clients on Form ADV Item 5.D: high net worth individuals (155); individuals (other than high net worth individuals) (145); charitable organizations (2).
Which custodians does LFA use?
LFA's most recent Form ADV filing (Schedule D, Section 5.K(3)) lists Banca Julius Baer Zurigo, Banque Pictet & CIE SA and EFG International AG as custodians holding 10% or more of its separately managed account assets.
Does LFA 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/152864
Does LFA state an account minimum?
Its Form ADV Part 2A brochure dated August 24, 2026 says: "Generally, LFA prefers its client relationships to have a minimum of CHF 1,000,000 of AUM or AUA." "LFA may accept accounts below the minimum requirements or may retain accounts that have dropped below the minimum requirement due to market fluctuation or investment performance."
What changed in LFA's recent Form ADV filings?
In the September 2026 filing data: Updated its list of owners and control persons (Schedule A).
From the Form ADV filing
Every figure below is as the firm filed it with regulators, as of October 2026.
How the firm is compensated
Item 5.E- A percentage of assets under your management
- Hourly charges
- Fixed fees (other than subscription fees)
- Performance-based fees
Item 5.E lists how the firm is compensated for its advice; Items 5.B, 6.A, and 7.A show whether its people or related companies can also earn commissions. Percentage of assets, fixed, hourly, subscription, and performance-based fees come from clients (a performance-based fee depends on investment results); commissions come with a sale or a trade, often from the company behind the product. How fees, commissions, and other arrangements differ
Fees and minimums
Form ADV Part 2AAccount minimum: $1,000,000
The brochure's wording
Generally, LFA prefers its client relationships to have a minimum of CHF 1,000,000 of AUM or AUA.
LFA may accept accounts below the minimum requirements or may retain accounts that have dropped below the minimum requirement due to market fluctuation or investment performance.
As stated in the firm's Form ADV Part 2A brochure dated August 24, 2026. Fees can differ by service and may be negotiable; the brochure is the complete statement. Read the brochure on the SEC's IAPD site
Regulatory assets under management
Item 5.F$1,090,049,962 as of October 2026, filing dated August 24, 2026.
A measure of scale, not skill or returns. Discretionary means the firm decides trades; non-discretionary means clients approve each one. What assets under management means
Who the firm serves
Item 5.DA firm with no individual clients is an institutional manager even if it manages billions; the mix tells you whom the practice is built around.
Advisory services
Item 5.G- Portfolio management for individuals and/or small businesses
- Other
Registration and firm details
Items 1, 2, 5- Legal name
- Lugano Financial Advisors S.A.
- Also doing business as
- LFA - LUGANO FINANCIAL ADVISORS SA
- Registration
- SEC-registered investment adviser. Status as filed: Approved.
- Registered since
- 2010 (16 years)
- Employees
- Total: 11. Performing investment advisory functions: 9.
- Wrap fee program participation
- No.
- Custodians (Schedule D, Section 5.K(3))
-
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.
- Other offices (Schedule D, Section 1.F)
-
2 other offices, as of the September 2026 filing
- States registered or notice-filed
-
11 states or jurisdictions
SEC-registered investment advisers are examined by the SEC. SEC, state, and exempt registration
Disclosures
Item 11None Reports no disclosure items on Form ADV Item 11. View on IAPD.
Item 11 asks about criminal, regulatory, and civil events involving the firm and its advisory personnel. The detail of each yes answer is on the IAPD record. Reading a firm's disclosures
Assets and staff over time
Items 5.A, 5.F| Data period | Assets under management | Employees | Filing dated |
|---|---|---|---|
| October 2026 | $1,090,049,962 | 11 | August 24, 2026 |
| October 2025 | $883,372,569 | 11 | July 11, 2025 |
| October 2024 | $990,616,806 | 12 | June 12, 2024 |
| October 2023 | $842,978,370 | 11 | August 8, 2023 |
| October 2022 | $942,513,703 | 12 | July 6, 2022 |
| October 2021 | $892,961,704 | 12 | February 5, 2021 |
Regulatory assets under management: $892,961,704 in the October 2021 data and $1,090,049,962 in the October 2026 data, up 22%.
Total employees: 12 in October 2021 and 11 in October 2026.
As filed in each year's data for the same month. Assets under management move with markets as well as with clients coming and going; they measure scale, not skill or returns. Most firms update these figures once a year.
Changes in the filing
Last 12 months- September 2026
- Updated its list of owners and control persons (Schedule A).
- May 2026
- Updated its list of owners and control persons (Schedule A).
- April 2026
- Regulatory assets under management went from $883,372,569 to $1,090,049,962 (+23%).
- Updated its list of owners and control persons (Schedule A).
- January 2026
- No longer registered or notice-filed in MD, WA.
Compared month to month from the SEC's monthly adviser data and the state compilation feed. Owners and control persons are summarized, never named.
Websites listed on Form ADV
Item 1.ISource: Form ADV, as of October 2026. Values appear as filed; a value the firm did not report is shown as "Not reported."
Cite this page
AdvisorCensus. LFA (CRD 152864): Form ADV filing data as of October 2026. https://advisorcensus.com/firm/lfa-lugano-ticino-152864