# Portfolio Advisory Council,l.l.c. > Portfolio Advisory Council,l.l.c. is an SEC-registered investment advisory firm in Houston, TX, registered since 1986, reporting $100 million to $500 million in regulatory assets under management in its Form ADV filing dated March 11, 2026. - CRD: 107465 - Filed as: PORTFOLIO ADVISORY COUNCIL,L.L.C. - Registration: SEC-registered investment adviser (status as filed: Approved) - Location: Houston, TX - Filing period: October 2026 - Form ADV filing dated: March 11, 2026 - SEC record (IAPD): https://adviserinfo.sec.gov/firm/summary/107465 - AdvisorCensus page: https://advisorcensus.com/firm/portfolio-advisory-council-l-l-c-houston-tx-107465 ## Quick answers **How is Portfolio Advisory Council,l.l.c. compensated?** On its Form ADV (Item 5.E, October 2026), Portfolio Advisory Council,l.l.c. reports these compensation arrangements: a percentage of assets under its management; hourly charges; fixed fees (other than subscription fees). **Where is Portfolio Advisory Council,l.l.c. located?** Portfolio Advisory Council,l.l.c.'s principal office is in Houston, TX, according to its Form ADV. **Is Portfolio Advisory Council,l.l.c. registered with the SEC or a state?** Portfolio Advisory Council,l.l.c. is an SEC-registered investment advisory firm, registered since 1986. Status as filed: Approved. CRD 107465. **How much does Portfolio Advisory Council,l.l.c. manage?** Portfolio Advisory Council,l.l.c. reports $494,940,434 in regulatory assets under management in its Form ADV filing dated March 11, 2026 (80% discretionary). **How have Portfolio Advisory Council,l.l.c.'s assets and staff changed since 2021?** In the Form ADV data for Portfolio Advisory Council,l.l.c.: Regulatory assets under management: $401,696,146 in the October 2021 data and $494,940,434 in the October 2026 data, up 23%. Total employees: 9 in October 2021 and 9 in October 2026. Assets under management move with markets as well as with clients coming and going. **What types of clients does Portfolio Advisory Council,l.l.c. serve?** By number of clients on Form ADV Item 5.D: individuals (other than high net worth individuals) (420); high net worth individuals (130); pension and profit sharing plans (but not the plan participants or government pension plans) (17). **Which custodians does Portfolio Advisory Council,l.l.c. use?** Portfolio Advisory Council,l.l.c.'s most recent Form ADV filing (Schedule D, Section 5.K(3)) lists Charles Schwab & Co., Inc. as a custodian holding 10% or more of its separately managed account assets. **Does Portfolio Advisory Council,l.l.c. report any disciplinary disclosures?** Reports 2 disclosure items on Form ADV Item 11: yes answers to 11.D(2) (another regulator's finding of a violation) and 11.D(4) (another regulator's order in the past ten years). Each question covers the firm and its advisory affiliates, and one event can produce several yes answers. The detail of any item is on the firm's SEC record: https://adviserinfo.sec.gov/firm/summary/107465 ## From the Form ADV filing ### Compensation (Item 5.E) - A percentage of assets under your management - Hourly charges - Fixed fees (other than subscription fees) ### Custodians (Schedule D, Section 5.K(3)) - Charles Schwab & Co., Inc. 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: $494,940,434 - Discretionary: $394,360,064 - Non-discretionary: $100,580,370 ### Clients (Item 5.D) | Client type | Clients | Assets | | --- | --- | --- | | Individuals (other than high net worth individuals) | 420 | $253,012,814 | | High net worth individuals | 130 | $141,347,250 | | Banking or thrift institutions | 0 | $0 | | Investment companies | 0 | $0 | | Business development companies | 0 | $0 | | Pooled investment vehicles (other than investment companies and business development companies) | 0 | $0 | | Pension and profit sharing plans (but not the plan participants or government pension plans) | 17 | $100,580,370 | | Charitable organizations | 0 | $0 | | State or municipal government entities (including government pension plans) | 0 | $0 | | Other investment advisers | 0 | $0 | | Insurance companies | 0 | $0 | | Sovereign wealth funds and foreign official institutions | 0 | $0 | | Corporations or other businesses not listed above | 0 | $0 | | Other | 0 | $0 | ### Advisory services (Item 5.G) - Financial planning services - Portfolio management for individuals and/or small businesses - Portfolio management for businesses (other than small businesses) or institutional clients - Pension consulting services ### Firm details - Registered since: 1986 (40 years) - Employees: 9 total, 6 performing advisory functions - Wrap fee program participation: No - States registered or notice-filed: CA, CO, KS, LA, MN, TX, WA - Disclosures (Item 11): Reports 2 disclosure items on Form ADV Item 11. ### Item 11 questions answered yes - 11.D(2): Has another federal regulator, a state regulator, or a foreign financial regulator ever found that the firm or an advisory affiliate was involved in a violation of investment-related regulations or statutes? - 11.D(4): In the past ten years, has another federal regulator, a state regulator, or a foreign financial regulator entered an order against the firm or an advisory affiliate in connection with investment-related activity? Each question covers the firm and its advisory affiliates: its current employees other than clerical staff, its officers, partners, and directors, and anyone who controls the firm or is controlled by it. One event can produce yes answers to several questions. SEC-registered advisers and exempt reporting advisers may leave out events more than ten years old, and may answer 11.A(2) and 11.B(2) for pending charges only. The detail of each yes answer is on the firm's SEC record: https://adviserinfo.sec.gov/firm/summary/107465 ### Websites listed on Form ADV (Item 1.I) - pacadvisory.com ## Assets and staff over time | Data period | Regulatory assets under management | Employees | Filing dated | | --- | --- | --- | --- | | October 2021 | $401,696,146 | 9 | March 18, 2021 | | October 2022 | $422,225,694 | 10 | July 29, 2022 | | October 2023 | $281,350,713 | 10 | September 14, 2023 | | October 2024 | $351,065,964 | 9 | March 19, 2024 | | October 2025 | $465,030,058 | 9 | March 25, 2025 | | October 2026 | $494,940,434 | 9 | March 11, 2026 | Regulatory assets under management: $401,696,146 in the October 2021 data and $494,940,434 in the October 2026 data, up 23%. Total employees: 9 in October 2021 and 9 in October 2026. ## Source Form ADV as filed, October 2026. Values appear as filed. Cite as: AdvisorCensus. Portfolio Advisory Council,l.l.c. (CRD 107465): Form ADV filing data as of October 2026.