{
  "crd_number": 47893,
  "slug": "thoroughbred-financial-services-llc-brentwood-tn-47893",
  "primary_business_name": "THOROUGHBRED FINANCIAL SERVICES, LLC",
  "legal_name": "THOROUGHBRED FINANCIAL SERVICES, LLC",
  "dbas": [],
  "city": "Brentwood",
  "state": "TN",
  "country": "United States",
  "cbsa_code": "34980",
  "metro": {
    "cbsa_code": "34980",
    "common_name": "Nashville",
    "msa_name": "Nashville-Davidson--Murfreesboro--Franklin, TN",
    "path": "/advisors/tn/nashville"
  },
  "registration_type": "sec",
  "registration_status": "Approved",
  "registration_date": "1999-08-13",
  "years_registered": 27,
  "period": "2026-10-01",
  "filing_date": "2026-03-31",
  "carried_forward": false,
  "raum_total": 4039118832.0,
  "raum_discretionary": 3618113013.0,
  "raum_non_discretionary": 421005819.0,
  "raum_band": "1b_5b",
  "raum_band_label": "$1 billion to $5 billion",
  "total_employees": 31,
  "advisory_employees": 31,
  "client_count_bucket": null,
  "clients_by_type": {
    "other": {
      "raum": null,
      "count": 0
    },
    "charitable": {
      "raum": null,
      "count": 0
    },
    "individuals": {
      "raum": 892396019.0,
      "count": 1829
    },
    "banking_thrift": {
      "raum": 0.0,
      "count": 0
    },
    "state_municipal": {
      "raum": null,
      "count": 0
    },
    "insurance_companies": {
      "raum": null,
      "count": 0
    },
    "investment_companies": {
      "raum": null,
      "count": 0
    },
    "pension_profit_sharing": {
      "raum": 138359081.0,
      "count": 18
    },
    "other_investment_advisers": {
      "raum": null,
      "count": 0
    },
    "high_net_worth_individuals": {
      "raum": 1857265573.0,
      "count": 691
    },
    "pooled_investment_vehicles": {
      "raum": null,
      "count": 0
    },
    "corporations_other_businesses": {
      "raum": 1151098159.0,
      "count": 1029
    },
    "business_development_companies": {
      "raum": null,
      "count": 0
    },
    "sovereign_wealth_foreign_official": {
      "raum": null,
      "count": 0
    }
  },
  "compensation_types": [
    "commissions",
    "fixed",
    "percentage_of_aum"
  ],
  "advisory_activities": [
    "financial_planning",
    "portfolio_management_individuals",
    "selection_of_other_advisers"
  ],
  "wrap_fee_participant": true,
  "disclosure_yes_count": 4,
  "states_registered": [
    "AL",
    "AR",
    "AZ",
    "CA",
    "CO",
    "FL",
    "GA",
    "IL",
    "IN",
    "KY",
    "LA",
    "MD",
    "MS",
    "NC",
    "NV",
    "NY",
    "OH",
    "OK",
    "PA",
    "SC",
    "TN",
    "TX",
    "VA",
    "WA"
  ],
  "websites": [
    "https://thoroughbredfinancial.com"
  ],
  "iapd_url": "https://adviserinfo.sec.gov/firm/summary/47893",
  "disclosure_items": [
    {
      "item": "11.C(1)",
      "question": "Has the SEC or the CFTC ever found that the firm or an advisory affiliate made a false statement or omission?"
    },
    {
      "item": "11.C(2)",
      "question": "Has the SEC or the CFTC ever found that the firm or an advisory affiliate was involved in a violation of SEC or CFTC regulations or statutes?"
    },
    {
      "item": "11.C(4)",
      "question": "Has the SEC or the CFTC ever entered an order against the firm or an advisory affiliate in connection with investment-related activity?"
    },
    {
      "item": "11.C(5)",
      "question": "Has the SEC or the CFTC ever imposed a civil money penalty on the firm or an advisory affiliate, or ordered the firm or an advisory affiliate to cease and desist from an activity?"
    }
  ],
  "city_as_filed": "BRENTWOOD",
  "url": "https://advisorcensus.com/firm/thoroughbred-financial-services-llc-brentwood-tn-47893",
  "display_name": "Thoroughbred Financial Services, LLC",
  "summary": "Thoroughbred Financial Services, LLC is an SEC-registered investment advisory firm in Brentwood, TN, registered since 1999, reporting $1 billion to $5 billion in regulatory assets under management in its Form ADV filing dated March 31, 2026.",
  "citation": "AdvisorCensus. Thoroughbred Financial Services, LLC (CRD 47893): Form ADV filing data as of October 2026.",
  "registration_type_label": "SEC-registered investment adviser",
  "compensation_labels": [
    "A percentage of assets under your management",
    "Fixed fees (other than subscription fees)",
    "Commissions"
  ],
  "advisory_activity_labels": [
    "Financial planning services",
    "Portfolio management for individuals and/or small businesses",
    "Selection of other advisers (including private fund managers)"
  ],
  "quick_answers": [
    {
      "q": "How is Thoroughbred Financial Services, LLC compensated?",
      "a": "On its Form ADV (Item 5.E, October 2026), Thoroughbred Financial Services, LLC reports these compensation arrangements: a percentage of assets under its management; fixed fees (other than subscription fees); commissions. The amounts are in Item 5 of its Form ADV Part 2A brochure."
    },
    {
      "q": "Where is Thoroughbred Financial Services, LLC located?",
      "a": "Thoroughbred Financial Services, LLC's principal office is in Brentwood, TN, according to its Form ADV; the April 2026 filing also lists 3 other offices (Schedule D, Section 1.F)."
    },
    {
      "q": "Is Thoroughbred Financial Services, LLC registered with the SEC or a state?",
      "a": "Thoroughbred Financial Services, LLC is an SEC-registered investment advisory firm, registered since 1999. Status as filed: Approved. CRD 47893."
    },
    {
      "q": "How much does Thoroughbred Financial Services, LLC manage?",
      "a": "Thoroughbred Financial Services, LLC reports $4,039,118,832 in regulatory assets under management in its Form ADV filing dated March 31, 2026 (90% discretionary)."
    },
    {
      "q": "How have Thoroughbred Financial Services, LLC's assets and staff changed since 2021?",
      "a": "In the Form ADV data for Thoroughbred Financial Services, LLC: Regulatory assets under management: $2,516,438,770 in the October 2021 data and $4,039,118,832 in the October 2026 data, up 61%. Total employees: 33 in October 2021 and 31 in October 2026. Assets under management move with markets as well as with clients coming and going."
    },
    {
      "q": "What types of clients does Thoroughbred Financial Services, LLC serve?",
      "a": "By number of clients on Form ADV Item 5.D: individuals (other than high net worth individuals) (1,829); corporations or other businesses not listed above (1,029); high net worth individuals (691)."
    },
    {
      "q": "Which custodians does Thoroughbred Financial Services, LLC use?",
      "a": "Thoroughbred Financial Services, LLC's most recent Form ADV filing (Schedule D, Section 5.K(3)) lists National Financial Services LLC as a custodian holding 10% or more of its separately managed account assets."
    },
    {
      "q": "Does Thoroughbred Financial Services, LLC report any disciplinary disclosures?",
      "a": "Reports 4 disclosure items on Form ADV Item 11: yes answers to 11.C(1) (SEC or CFTC finding of a false statement or omission), 11.C(2) (SEC or CFTC finding of a violation), 11.C(4) (SEC or CFTC order), and 11.C(5) (SEC or CFTC civil money penalty or cease-and-desist order). 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/47893"
    },
    {
      "q": "What changed in Thoroughbred Financial Services, LLC's recent Form ADV filings?",
      "a": "In the April 2026 filing data: Employees performing advisory functions went from 33 to 31. Regulatory assets under management went from $3,409,535,678 to $4,039,118,832 (+18%). Registered or notice-filed in NV, NY. Updated its list of owners and control persons (Schedule A)."
    }
  ],
  "filing_history": [
    {
      "period": "2021-10-01",
      "regulatory_assets_under_management": 2516438770.0,
      "total_employees": 33,
      "filing_date": "2021-03-31"
    },
    {
      "period": "2022-10-01",
      "regulatory_assets_under_management": 2926834220.0,
      "total_employees": 33,
      "filing_date": "2022-03-30"
    },
    {
      "period": "2023-10-01",
      "regulatory_assets_under_management": 2440440866.0,
      "total_employees": 33,
      "filing_date": "2023-03-31"
    },
    {
      "period": "2024-10-01",
      "regulatory_assets_under_management": 2913693892.0,
      "total_employees": 34,
      "filing_date": "2024-03-27"
    },
    {
      "period": "2025-10-01",
      "regulatory_assets_under_management": 3409535678.0,
      "total_employees": 34,
      "filing_date": "2025-03-31"
    },
    {
      "period": "2026-10-01",
      "regulatory_assets_under_management": 4039118832.0,
      "total_employees": 31,
      "filing_date": "2026-03-31"
    }
  ],
  "recent_changes": [
    {
      "period": "2026-04-01",
      "period_label": "April 2026",
      "notes": [
        "Employees performing advisory functions went from 33 to 31.",
        "Regulatory assets under management went from $3,409,535,678 to $4,039,118,832 (+18%).",
        "Registered or notice-filed in NV, NY.",
        "Updated its list of owners and control persons (Schedule A)."
      ]
    }
  ],
  "fees_from_brochure": null,
  "custodians": [
    {
      "name": "National Financial Services LLC",
      "name_as_filed": "NATIONAL FINANCIAL SERVICES 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/thoroughbred-financial-services-llc-brentwood-tn-47893.md",
  "clients": [
    {
      "type": "individuals",
      "label": "Individuals (other than high net worth individuals)",
      "count": 1829,
      "fewer_than_5": false,
      "raum": 892396019.0
    },
    {
      "type": "high_net_worth_individuals",
      "label": "High net worth individuals",
      "count": 691,
      "fewer_than_5": false,
      "raum": 1857265573.0
    },
    {
      "type": "banking_thrift",
      "label": "Banking or thrift institutions",
      "count": 0,
      "fewer_than_5": false,
      "raum": 0.0
    },
    {
      "type": "investment_companies",
      "label": "Investment companies",
      "count": 0,
      "fewer_than_5": false,
      "raum": null
    },
    {
      "type": "business_development_companies",
      "label": "Business development companies",
      "count": 0,
      "fewer_than_5": false,
      "raum": null
    },
    {
      "type": "pooled_investment_vehicles",
      "label": "Pooled investment vehicles (other than investment companies and business development companies)",
      "count": 0,
      "fewer_than_5": false,
      "raum": null
    },
    {
      "type": "pension_profit_sharing",
      "label": "Pension and profit sharing plans (but not the plan participants or government pension plans)",
      "count": 18,
      "fewer_than_5": false,
      "raum": 138359081.0
    },
    {
      "type": "charitable",
      "label": "Charitable organizations",
      "count": 0,
      "fewer_than_5": false,
      "raum": null
    },
    {
      "type": "state_municipal",
      "label": "State or municipal government entities (including government pension plans)",
      "count": 0,
      "fewer_than_5": false,
      "raum": null
    },
    {
      "type": "other_investment_advisers",
      "label": "Other investment advisers",
      "count": 0,
      "fewer_than_5": false,
      "raum": null
    },
    {
      "type": "insurance_companies",
      "label": "Insurance companies",
      "count": 0,
      "fewer_than_5": false,
      "raum": null
    },
    {
      "type": "sovereign_wealth_foreign_official",
      "label": "Sovereign wealth funds and foreign official institutions",
      "count": 0,
      "fewer_than_5": false,
      "raum": null
    },
    {
      "type": "corporations_other_businesses",
      "label": "Corporations or other businesses not listed above",
      "count": 1029,
      "fewer_than_5": false,
      "raum": 1151098159.0
    },
    {
      "type": "other",
      "label": "Other",
      "count": 0,
      "fewer_than_5": false,
      "raum": null
    }
  ],
  "disclosure_line": "Reports 4 disclosure items on Form ADV Item 11.",
  "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/47893",
    "operator": "BH Monitor Services, LLC",
    "license": "https://creativecommons.org/licenses/by/4.0/",
    "credit": "AdvisorCensus (advisorcensus.com), from SEC Form ADV data"
  }
}