# Thomas J. Herzfeld Advisors, Inc.

> 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.

- CRD: 108369
- Filed as: THOMAS J. HERZFELD ADVISORS, INC.
- Registration: SEC-registered investment adviser (status as filed: Approved)
- Location: Miami Beach, FL
- Filing period: October 2026
- Form ADV filing dated: August 18, 2026
- SEC record (IAPD): https://adviserinfo.sec.gov/firm/summary/108369
- AdvisorCensus page: https://advisorcensus.com/firm/thomas-j-herzfeld-advisors-inc-miami-beach-fl-108369

## Quick answers

**How is Thomas J. Herzfeld Advisors, Inc. compensated?**
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.

**Where is Thomas J. Herzfeld Advisors, Inc. located?**
Thomas J. Herzfeld Advisors, Inc.'s principal office is in Miami Beach, FL, according to its Form ADV.

**Is Thomas J. Herzfeld Advisors, Inc. registered with the SEC or a state?**
Thomas J. Herzfeld Advisors, Inc. is an SEC-registered investment advisory firm, registered since 1984. Status as filed: Approved. CRD 108369.

**How much does Thomas J. Herzfeld Advisors, Inc. manage?**
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).

**How have Thomas J. Herzfeld Advisors, Inc.'s assets and staff changed since 2021?**
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.

**What types of clients does Thomas J. Herzfeld Advisors, Inc. serve?**
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).

**Which custodians does Thomas J. Herzfeld Advisors, Inc. use?**
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.

**Does Thomas J. Herzfeld Advisors, Inc. 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/108369

**What changed in Thomas J. Herzfeld Advisors, Inc.'s recent Form ADV filings?**
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.

## From the Form ADV filing

### Compensation (Item 5.E)
- A percentage of assets under your management
- Performance-based fees
- Other

### Custodians (Schedule D, Section 5.K(3))
- Charles Schwab & Co., Inc.
- Morgan Stanley & Co. LLC
- RBC Capital Markets, LLC

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: $890,415,395
- Discretionary: $870,360,004
- Non-discretionary: $20,055,391

### Clients (Item 5.D)

| Client type | Clients | Assets |
| --- | --- | --- |
| Individuals (other than high net worth individuals) | 15 | $5,202,724 |
| High net worth individuals | 125 | $140,656,441 |
| Investment companies | 1 | $41,681,178 |
| Pooled investment vehicles (other than investment companies and business development companies) | 8 | $484,837,086 |
| Pension and profit sharing plans (but not the plan participants or government pension plans) | 3 | $1,134,975 |
| Charitable organizations | 11 | $47,039,339 |
| Corporations or other businesses not listed above | 10 | $44,710,699 |
| Other | 127 | $125,152,953 |

### Advisory services (Item 5.G)
- 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

### Firm details
- Registered since: 1984 (42 years)
- Employees: 15 total, 6 performing advisory functions
- Wrap fee program participation: Yes
- States registered or notice-filed: AL, AR, AZ, CA, CO, DE, FL, IA, IL, MI, ND, NE, NH, NY, TN, TX
- Disclosures (Item 11): Reports no disclosure items on Form ADV Item 11.

### Websites listed on Form ADV (Item 1.I)
- herzfeld.com
- herzfeld.com/herz
- LinkedIn @THOMAS-J--HERZFELD-ADVISORS-INC-

## Assets and staff over time

| Data period | Regulatory assets under management | Employees | Filing dated |
| --- | --- | --- | --- |
| October 2021 | $360,986,914 | 9 | March 29, 2021 |
| October 2022 | $558,743,634 | 9 | March 29, 2022 |
| October 2023 | $639,975,511 | 9 | March 29, 2023 |
| October 2024 | $726,869,853 | 9 | March 28, 2024 |
| October 2025 | $847,596,732 | 10 | March 27, 2025 |
| October 2026 | $890,415,395 | 15 | August 18, 2026 |

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.

## Changes in the filing (last 12 months)

### April 2026
- Employees performing advisory functions went from 4 to 6.
- Registered or notice-filed in AR, DE, IA, ND, NE.

## Source

Form ADV as filed, October 2026. Values appear as filed. Cite as: AdvisorCensus. Thomas J. Herzfeld Advisors, Inc. (CRD 108369): Form ADV filing data as of October 2026.