{
  "crd_number": 108369,
  "slug": "thomas-j-herzfeld-advisors-inc-miami-beach-fl-108369",
  "primary_business_name": "THOMAS J. HERZFELD ADVISORS, INC.",
  "legal_name": "THOMAS J. HERZFELD ADVISORS, INC.",
  "dbas": [],
  "city": "Miami Beach",
  "state": "FL",
  "country": "United States",
  "cbsa_code": "33100",
  "metro": {
    "cbsa_code": "33100",
    "common_name": "Miami",
    "msa_name": "Miami-Fort Lauderdale-West Palm Beach, FL",
    "path": "/advisors/fl/miami"
  },
  "registration_type": "sec",
  "registration_status": "Approved",
  "registration_date": "1984-04-09",
  "years_registered": 42,
  "period": "2026-10-01",
  "filing_date": "2026-08-18",
  "carried_forward": false,
  "raum_total": 890415395.0,
  "raum_discretionary": 870360004.0,
  "raum_non_discretionary": 20055391.0,
  "raum_band": "500m_1b",
  "raum_band_label": "$500 million to $1 billion",
  "total_employees": 15,
  "advisory_employees": 6,
  "client_count_bucket": null,
  "clients_by_type": {
    "other": {
      "raum": 125152953.0,
      "count": 127,
      "description": "FOUNDATIONS & PERSONAL TRUSTS"
    },
    "charitable": {
      "raum": 47039339.0,
      "count": 11
    },
    "individuals": {
      "raum": 5202724.0,
      "count": 15
    },
    "investment_companies": {
      "raum": 41681178.0,
      "count": 1
    },
    "pension_profit_sharing": {
      "raum": 1134975.0,
      "count": 3
    },
    "high_net_worth_individuals": {
      "raum": 140656441.0,
      "count": 125
    },
    "pooled_investment_vehicles": {
      "raum": 484837086.0,
      "count": 8
    },
    "corporations_other_businesses": {
      "raum": 44710699.0,
      "count": 10
    }
  },
  "compensation_types": [
    "other",
    "percentage_of_aum",
    "performance_based"
  ],
  "advisory_activities": [
    "other",
    "portfolio_management_businesses_institutional",
    "portfolio_management_individuals",
    "portfolio_management_investment_companies",
    "portfolio_management_pooled_vehicles"
  ],
  "wrap_fee_participant": true,
  "disclosure_yes_count": 0,
  "states_registered": [
    "AL",
    "AR",
    "AZ",
    "CA",
    "CO",
    "DE",
    "FL",
    "IA",
    "IL",
    "MI",
    "ND",
    "NE",
    "NH",
    "NY",
    "TN",
    "TX"
  ],
  "websites": [
    "https://herzfeld.com",
    "https://herzfeld.com/herz",
    "https://linkedin.com/COMPANY/THOMAS-J--HERZFELD-ADVISORS-INC-"
  ],
  "iapd_url": "https://adviserinfo.sec.gov/firm/summary/108369",
  "city_as_filed": "MIAMI BEACH",
  "url": "https://advisorcensus.com/firm/thomas-j-herzfeld-advisors-inc-miami-beach-fl-108369",
  "display_name": "Thomas J. Herzfeld Advisors, Inc.",
  "summary": "Thomas J. Herzfeld Advisors, Inc. is an SEC-registered investment advisory firm in Miami Beach, FL, registered since 1984, reporting $500 million to $1 billion in regulatory assets under management in its Form ADV filing dated August 18, 2026.",
  "citation": "AdvisorCensus. Thomas J. Herzfeld Advisors, Inc. (CRD 108369): 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",
    "Other"
  ],
  "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",
    "Other"
  ],
  "quick_answers": [
    {
      "q": "How is Thomas J. Herzfeld Advisors, Inc. compensated?",
      "a": "On its Form ADV (Item 5.E, October 2026), Thomas J. Herzfeld Advisors, Inc. reports these compensation arrangements: a percentage of assets under its management; performance-based fees; other. The amounts are in Item 5 of its Form ADV Part 2A brochure."
    },
    {
      "q": "Where is Thomas J. Herzfeld Advisors, Inc. located?",
      "a": "Thomas J. Herzfeld Advisors, Inc.'s principal office is in Miami Beach, FL, according to its Form ADV."
    },
    {
      "q": "Is Thomas J. Herzfeld Advisors, Inc. registered with the SEC or a state?",
      "a": "Thomas J. Herzfeld Advisors, Inc. is an SEC-registered investment advisory firm, registered since 1984. Status as filed: Approved. CRD 108369."
    },
    {
      "q": "How much does Thomas J. Herzfeld Advisors, Inc. manage?",
      "a": "Thomas J. Herzfeld Advisors, Inc. reports $890,415,395 in regulatory assets under management in its Form ADV filing dated August 18, 2026 (98% discretionary)."
    },
    {
      "q": "How have Thomas J. Herzfeld Advisors, Inc.'s assets and staff changed since 2021?",
      "a": "In the Form ADV data for Thomas J. Herzfeld Advisors, Inc.: Regulatory assets under management: $360,986,914 in the October 2021 data and $890,415,395 in the October 2026 data, up 147%. Total employees: 9 in October 2021 and 15 in October 2026. Assets under management move with markets as well as with clients coming and going."
    },
    {
      "q": "What types of clients does Thomas J. Herzfeld Advisors, Inc. serve?",
      "a": "By number of clients on Form ADV Item 5.D: other (127); high net worth individuals (125); individuals (other than high net worth individuals) (15)."
    },
    {
      "q": "Which custodians does Thomas J. Herzfeld Advisors, Inc. use?",
      "a": "Thomas J. Herzfeld Advisors, Inc.'s most recent Form ADV filing (Schedule D, Section 5.K(3)) lists Charles Schwab & Co., Inc., Morgan Stanley & Co. LLC and RBC Capital Markets, LLC as custodians holding 10% or more of its separately managed account assets."
    },
    {
      "q": "Does Thomas J. Herzfeld Advisors, Inc. 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/108369"
    },
    {
      "q": "What changed in Thomas J. Herzfeld Advisors, Inc.'s recent Form ADV filings?",
      "a": "In the April 2026 filing data: Employees performing advisory functions went from 4 to 6. Registered or notice-filed in AR, DE, IA, ND, NE."
    }
  ],
  "filing_history": [
    {
      "period": "2021-10-01",
      "regulatory_assets_under_management": 360986914.0,
      "total_employees": 9,
      "filing_date": "2021-03-29"
    },
    {
      "period": "2022-10-01",
      "regulatory_assets_under_management": 558743634.0,
      "total_employees": 9,
      "filing_date": "2022-03-29"
    },
    {
      "period": "2023-10-01",
      "regulatory_assets_under_management": 639975511.0,
      "total_employees": 9,
      "filing_date": "2023-03-29"
    },
    {
      "period": "2024-10-01",
      "regulatory_assets_under_management": 726869853.0,
      "total_employees": 9,
      "filing_date": "2024-03-28"
    },
    {
      "period": "2025-10-01",
      "regulatory_assets_under_management": 847596732.0,
      "total_employees": 10,
      "filing_date": "2025-03-27"
    },
    {
      "period": "2026-10-01",
      "regulatory_assets_under_management": 890415395.0,
      "total_employees": 15,
      "filing_date": "2026-08-18"
    }
  ],
  "recent_changes": [
    {
      "period": "2026-04-01",
      "period_label": "April 2026",
      "notes": [
        "Employees performing advisory functions went from 4 to 6.",
        "Registered or notice-filed in AR, DE, IA, ND, NE."
      ]
    }
  ],
  "fees_from_brochure": null,
  "custodians": [
    {
      "name": "Charles Schwab & Co., Inc.",
      "name_as_filed": "CHARLES SCHWAB & CO., INC.",
      "affiliated": false
    },
    {
      "name": "Morgan Stanley & Co. LLC",
      "name_as_filed": "MORGAN STANLEY & CO. LLC",
      "affiliated": false
    },
    {
      "name": "RBC Capital Markets, LLC",
      "name_as_filed": "RBC CAPITAL MARKETS, LLC",
      "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/thomas-j-herzfeld-advisors-inc-miami-beach-fl-108369.md",
  "clients": [
    {
      "type": "individuals",
      "label": "Individuals (other than high net worth individuals)",
      "count": 15,
      "fewer_than_5": false,
      "raum": 5202724.0
    },
    {
      "type": "high_net_worth_individuals",
      "label": "High net worth individuals",
      "count": 125,
      "fewer_than_5": false,
      "raum": 140656441.0
    },
    {
      "type": "investment_companies",
      "label": "Investment companies",
      "count": 1,
      "fewer_than_5": false,
      "raum": 41681178.0
    },
    {
      "type": "pooled_investment_vehicles",
      "label": "Pooled investment vehicles (other than investment companies and business development companies)",
      "count": 8,
      "fewer_than_5": false,
      "raum": 484837086.0
    },
    {
      "type": "pension_profit_sharing",
      "label": "Pension and profit sharing plans (but not the plan participants or government pension plans)",
      "count": 3,
      "fewer_than_5": false,
      "raum": 1134975.0
    },
    {
      "type": "charitable",
      "label": "Charitable organizations",
      "count": 11,
      "fewer_than_5": false,
      "raum": 47039339.0
    },
    {
      "type": "corporations_other_businesses",
      "label": "Corporations or other businesses not listed above",
      "count": 10,
      "fewer_than_5": false,
      "raum": 44710699.0
    },
    {
      "type": "other",
      "label": "Other",
      "count": 127,
      "fewer_than_5": false,
      "raum": 125152953.0
    }
  ],
  "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/108369",
    "operator": "BH Monitor Services, LLC",
    "license": "https://creativecommons.org/licenses/by/4.0/",
    "credit": "AdvisorCensus (advisorcensus.com), from SEC Form ADV data"
  }
}