# Smith & Wyatt

> Smith & Wyatt is an SEC-registered investment advisory firm in College Station, TX, registered since 2023, reporting $100 million to $500 million in regulatory assets under management in its Form ADV filing dated July 13, 2026.

- CRD: 285310
- Filed as: SMITH & WYATT
- Legal name: L & W Financial, LLC
- Also doing business as: DUGAN BROWN, FRONTIER WEALTH MANAGEMENT
- Registration: SEC-registered investment adviser (status as filed: Approved)
- Location: College Station, TX
- Filing period: October 2026
- Form ADV filing dated: July 13, 2026
- SEC record (IAPD): https://adviserinfo.sec.gov/firm/summary/285310
- AdvisorCensus page: https://advisorcensus.com/firm/smith-and-wyatt-college-station-tx-285310

## Quick answers

**How is Smith & Wyatt compensated?**
On its Form ADV (Item 5.E, October 2026), Smith & Wyatt reports these compensation arrangements: a percentage of assets under its management; hourly charges; fixed fees (other than subscription fees); other.

**What does Smith & Wyatt's brochure say about its fees?**
Its Form ADV Part 2A brochure dated July 13, 2026 states: Asset-based fee: 0.25% to 1.5% a year (a range, as the brochure states it). Fees can differ by service and may be negotiable; the brochure is the complete statement.

**Where is Smith & Wyatt located?**
Smith & Wyatt's principal office is in College Station, TX, according to its Form ADV; the August 2026 filing also lists 3 other offices (Schedule D, Section 1.F).

**Is Smith & Wyatt registered with the SEC or a state?**
Smith & Wyatt is an SEC-registered investment advisory firm, registered since 2023. Status as filed: Approved. CRD 285310.

**How much does Smith & Wyatt manage?**
Smith & Wyatt reports $207,487,000 in regulatory assets under management in its Form ADV filing dated July 13, 2026 (97% discretionary).

**How have Smith & Wyatt's assets and staff changed since 2024?**
In the Form ADV data for Smith & Wyatt: Regulatory assets under management: $119,845,319 in the October 2024 data and $207,487,000 in the October 2026 data, up 73%. Total employees: 8 in October 2024 and 9 in October 2026. Assets under management move with markets as well as with clients coming and going.

**What types of clients does Smith & Wyatt serve?**
By number of clients on Form ADV Item 5.D: individuals (other than high net worth individuals) (691); high net worth individuals (33).

**Which custodians does Smith & Wyatt use?**
Smith & Wyatt's most recent Form ADV filing (Schedule D, Section 5.K(3)) lists Capital Client Group, Inc. and Charles Schwab & Co., Inc. as custodians holding 10% or more of its separately managed account assets.

**Does Smith & Wyatt 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/285310

**What changed in Smith & Wyatt's recent Form ADV filings?**
In the March 2026 filing data: Regulatory assets under management went from $158,577,226 to $207,487,000 (+31%). Employees performing advisory functions went from 6 to 8. Added an office in College Station, TX. No longer lists an office in Bryan, TX. No longer lists an office in San Antonio, TX. Registered or notice-filed in PA.

## From the Form ADV filing

### Compensation (Item 5.E)
- A percentage of assets under your management
- Hourly charges
- Fixed fees (other than subscription fees)
- Other

### Fees and minimums (Form ADV Part 2A brochure dated July 13, 2026)

- Asset-based fee: 0.25% to 1.5% a year (a range, as the brochure states it)

> Our annual portfolio management fee ranges from 0.25% to 1.5% depending on account size and custodian used.

As stated in the firm's brochure. Fees can differ by service and may be negotiable.

### Custodians (Schedule D, Section 5.K(3))
- Capital Client Group, Inc.
- 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: $207,487,000
- Discretionary: $201,287,000
- Non-discretionary: $6,200,000

### Clients (Item 5.D)

| Client type | Clients | Assets |
| --- | --- | --- |
| Individuals (other than high net worth individuals) | 691 | $149,297,000 |
| High net worth individuals | 33 | $58,190,000 |
| 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) | 0 | $0 |
| 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
- Other

### Firm details
- Registered since: 2023 (2 years)
- Employees: 9 total, 8 performing advisory functions
- Wrap fee program participation: No
- States registered or notice-filed: CA, FL, IL, LA, MN, OH, PA, TX, WV
- Disclosures (Item 11): Reports no disclosure items on Form ADV Item 11.

### Other offices (Schedule D, Section 1.F), as of the August 2026 filing
- College Station, TX
- Conroe, TX
- Dublin, OH

### Websites listed on Form ADV (Item 1.I)
- duganbrown.com
- fw-mgmt.com
- smithwyatt.com
- LinkedIn @smithwyatt

## Assets and staff over time

| Data period | Regulatory assets under management | Employees | Filing dated |
| --- | --- | --- | --- |
| October 2024 | $119,845,319 | 8 | September 4, 2024 |
| October 2025 | $158,577,226 | 8 | July 28, 2025 |
| October 2026 | $207,487,000 | 9 | July 13, 2026 |

Regulatory assets under management: $119,845,319 in the October 2024 data and $207,487,000 in the October 2026 data, up 73%.
Total employees: 8 in October 2024 and 9 in October 2026.

## Changes in the filing (last 12 months)

### March 2026
- Regulatory assets under management went from $158,577,226 to $207,487,000 (+31%).
- Employees performing advisory functions went from 6 to 8.
- Added an office in College Station, TX.
- No longer lists an office in Bryan, TX.
- No longer lists an office in San Antonio, TX.
- Registered or notice-filed in PA.

## Source

Form ADV as filed, October 2026. Values appear as filed. Cite as: AdvisorCensus. Smith & Wyatt (CRD 285310): Form ADV filing data as of October 2026.