{
  "crd_number": 307169,
  "slug": "national-investment-services-of-america-llc-milwaukee-wi-307169",
  "primary_business_name": "NATIONAL INVESTMENT SERVICES OF AMERICA, LLC",
  "legal_name": "NATIONAL INVESTMENT SERVICES OF AMERICA, LLC",
  "dbas": [
    "NATIONAL INVESTMENT SERVICES"
  ],
  "city": "Milwaukee",
  "state": "WI",
  "country": "United States",
  "cbsa_code": "33340",
  "metro": {
    "cbsa_code": "33340",
    "common_name": "Milwaukee",
    "msa_name": "Milwaukee-Waukesha, WI",
    "path": "/advisors/wi/milwaukee"
  },
  "registration_type": "sec",
  "registration_status": "Approved",
  "registration_date": "2020-02-26",
  "years_registered": 6,
  "period": "2026-10-01",
  "filing_date": "2026-05-01",
  "carried_forward": false,
  "raum_total": 16252169000.0,
  "raum_discretionary": 16252169000.0,
  "raum_non_discretionary": 0.0,
  "raum_band": "over_5b",
  "raum_band_label": "Over $5 billion",
  "total_employees": 38,
  "advisory_employees": 16,
  "client_count_bucket": "fewer_than_5_in_some_types",
  "clients_by_type": {
    "other": {
      "raum": 301730000.0,
      "count": 2,
      "description": "COLLECTIVE INVESTMENT TRUSTS",
      "fewer_than_5": true
    },
    "charitable": {
      "raum": 656993000.0,
      "count": 35
    },
    "individuals": {
      "raum": 32954000.0,
      "count": 10
    },
    "state_municipal": {
      "raum": 1270577000.0,
      "count": 29
    },
    "investment_companies": {
      "raum": 8702000.0,
      "count": 1
    },
    "pension_profit_sharing": {
      "raum": 12983012000.0,
      "count": 263
    },
    "pooled_investment_vehicles": {
      "raum": 408852000.0,
      "count": 12
    },
    "corporations_other_businesses": {
      "raum": 589349000.0,
      "count": 8
    }
  },
  "compensation_types": [
    "percentage_of_aum",
    "performance_based"
  ],
  "advisory_activities": [
    "portfolio_management_businesses_institutional",
    "portfolio_management_individuals",
    "portfolio_management_investment_companies",
    "portfolio_management_pooled_vehicles"
  ],
  "wrap_fee_participant": false,
  "disclosure_yes_count": 0,
  "states_registered": [
    "CA",
    "CT",
    "DC",
    "FL",
    "IL",
    "IN",
    "KY",
    "LA",
    "MD",
    "MI",
    "MN",
    "MO",
    "NJ",
    "NV",
    "NY",
    "OH",
    "PA",
    "TX",
    "WI"
  ],
  "websites": [
    "https://linkedin.com/company/national-investment-services-inc.",
    "https://nisi.net"
  ],
  "iapd_url": "https://adviserinfo.sec.gov/firm/summary/307169",
  "city_as_filed": "MILWAUKEE",
  "url": "https://advisorcensus.com/firm/national-investment-services-of-america-llc-milwaukee-wi-307169",
  "display_name": "National Investment Services of America, LLC",
  "summary": "National Investment Services of America, LLC is an SEC-registered investment advisory firm in Milwaukee, WI, registered since 2020, reporting over $5 billion in regulatory assets under management in its Form ADV filing dated May 1, 2026.",
  "citation": "AdvisorCensus. National Investment Services of America, LLC (CRD 307169): 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 individuals and/or small businesses",
    "Portfolio management for investment companies (and business development companies)",
    "Portfolio management for pooled investment vehicles (other than investment companies)",
    "Portfolio management for businesses (other than small businesses) or institutional clients"
  ],
  "quick_answers": [
    {
      "q": "How is National Investment Services of America, LLC compensated?",
      "a": "On its Form ADV (Item 5.E, October 2026), National Investment Services of America, LLC reports these compensation arrangements: a percentage of assets under its management; performance-based fees. The amounts are in Item 5 of its Form ADV Part 2A brochure."
    },
    {
      "q": "Where is National Investment Services of America, LLC located?",
      "a": "National Investment Services of America, LLC's principal office is in Milwaukee, WI, according to its Form ADV; the June 2026 filing also lists 1 other office (Schedule D, Section 1.F)."
    },
    {
      "q": "Is National Investment Services of America, LLC registered with the SEC or a state?",
      "a": "National Investment Services of America, LLC is an SEC-registered investment advisory firm, registered since 2020. Status as filed: Approved. CRD 307169."
    },
    {
      "q": "How much does National Investment Services of America, LLC manage?",
      "a": "National Investment Services of America, LLC reports $16,252,169,000 in regulatory assets under management in its Form ADV filing dated May 1, 2026 (100% discretionary)."
    },
    {
      "q": "How have National Investment Services of America, LLC's assets and staff changed since 2021?",
      "a": "In the Form ADV data for National Investment Services of America, LLC: Regulatory assets under management: $9,414,112,000 in the October 2021 data and $16,252,169,000 in the October 2026 data, up 73%. Total employees: 36 in October 2021 and 38 in October 2026. Assets under management move with markets as well as with clients coming and going."
    },
    {
      "q": "What types of clients does National Investment Services of America, LLC serve?",
      "a": "By number of clients on Form ADV Item 5.D: pension and profit sharing plans (but not the plan participants or government pension plans) (263); charitable organizations (35); state or municipal government entities (including government pension plans) (29)."
    },
    {
      "q": "Which custodians does National Investment Services of America, LLC use?",
      "a": "National Investment Services of America, LLC's most recent Form ADV filing (Schedule D, Section 5.K(3)) lists Mellon Trust, Northern Trust Corporation, State Street Bank and U.S. Bank as custodians holding 10% or more of its separately managed account assets."
    },
    {
      "q": "Does National Investment Services of America, LLC 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/307169"
    },
    {
      "q": "What changed in National Investment Services of America, LLC's recent Form ADV filings?",
      "a": "In the April 2026 filing data: Employees performing advisory functions went from 25 to 16. Regulatory assets under management went from $12,910,404,000 to $16,252,169,000 (+26%). Registered or notice-filed in DC, FL. Updated its list of owners and control persons (Schedule A)."
    }
  ],
  "filing_history": [
    {
      "period": "2021-10-01",
      "regulatory_assets_under_management": 9414112000.0,
      "total_employees": 36,
      "filing_date": "2021-06-08"
    },
    {
      "period": "2022-10-01",
      "regulatory_assets_under_management": 9970532000.0,
      "total_employees": 38,
      "filing_date": "2022-05-05"
    },
    {
      "period": "2023-10-01",
      "regulatory_assets_under_management": 7925313000.0,
      "total_employees": 37,
      "filing_date": "2023-03-21"
    },
    {
      "period": "2024-10-01",
      "regulatory_assets_under_management": 9848742000.0,
      "total_employees": 35,
      "filing_date": "2024-05-20"
    },
    {
      "period": "2025-10-01",
      "regulatory_assets_under_management": 12910404000.0,
      "total_employees": 37,
      "filing_date": "2025-04-24"
    },
    {
      "period": "2026-10-01",
      "regulatory_assets_under_management": 16252169000.0,
      "total_employees": 38,
      "filing_date": "2026-05-01"
    }
  ],
  "recent_changes": [
    {
      "period": "2026-04-01",
      "period_label": "April 2026",
      "notes": [
        "Employees performing advisory functions went from 25 to 16.",
        "Regulatory assets under management went from $12,910,404,000 to $16,252,169,000 (+26%).",
        "Registered or notice-filed in DC, FL.",
        "Updated its list of owners and control persons (Schedule A)."
      ]
    }
  ],
  "fees_from_brochure": null,
  "custodians": [
    {
      "name": "Mellon Trust",
      "name_as_filed": "MELLON TRUST",
      "affiliated": false
    },
    {
      "name": "Northern Trust Corporation",
      "name_as_filed": "NORTHERN TRUST CORPORATION",
      "affiliated": false
    },
    {
      "name": "State Street Bank",
      "name_as_filed": "STATE STREET BANK",
      "affiliated": false
    },
    {
      "name": "U.S. Bank",
      "name_as_filed": "U.S. BANK",
      "affiliated": false
    }
  ],
  "custodians_note": "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.",
  "markdown_url": "https://advisorcensus.com/firm/national-investment-services-of-america-llc-milwaukee-wi-307169.md",
  "clients": [
    {
      "type": "individuals",
      "label": "Individuals (other than high net worth individuals)",
      "count": 10,
      "fewer_than_5": false,
      "raum": 32954000.0
    },
    {
      "type": "investment_companies",
      "label": "Investment companies",
      "count": 1,
      "fewer_than_5": false,
      "raum": 8702000.0
    },
    {
      "type": "pooled_investment_vehicles",
      "label": "Pooled investment vehicles (other than investment companies and business development companies)",
      "count": 12,
      "fewer_than_5": false,
      "raum": 408852000.0
    },
    {
      "type": "pension_profit_sharing",
      "label": "Pension and profit sharing plans (but not the plan participants or government pension plans)",
      "count": 263,
      "fewer_than_5": false,
      "raum": 12983012000.0
    },
    {
      "type": "charitable",
      "label": "Charitable organizations",
      "count": 35,
      "fewer_than_5": false,
      "raum": 656993000.0
    },
    {
      "type": "state_municipal",
      "label": "State or municipal government entities (including government pension plans)",
      "count": 29,
      "fewer_than_5": false,
      "raum": 1270577000.0
    },
    {
      "type": "corporations_other_businesses",
      "label": "Corporations or other businesses not listed above",
      "count": 8,
      "fewer_than_5": false,
      "raum": 589349000.0
    },
    {
      "type": "other",
      "label": "Other",
      "count": 2,
      "fewer_than_5": true,
      "raum": 301730000.0
    }
  ],
  "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/307169",
    "operator": "BH Monitor Services, LLC",
    "license": "https://creativecommons.org/licenses/by/4.0/",
    "credit": "AdvisorCensus (advisorcensus.com), from SEC Form ADV data"
  }
}