{ "crd_number": 116048, "slug": "true-north-advisors-llc-dallas-tx-116048", "primary_business_name": "TRUE NORTH ADVISORS, LLC", "legal_name": "TRUE NORTH ADVISORS, LLC", "dbas": [], "city": "Dallas", "state": "TX", "country": "United States", "cbsa_code": "19100", "metro": { "cbsa_code": "19100", "common_name": "Dallas", "msa_name": "Dallas-Fort Worth-Arlington, TX", "path": "/advisors/tx/dallas" }, "registration_type": "sec", "registration_status": "Approved", "registration_date": "2006-02-21", "years_registered": 20, "period": "2026-10-01", "filing_date": "2026-07-16", "carried_forward": false, "raum_total": 5422653468.0, "raum_discretionary": 5020432016.0, "raum_non_discretionary": 402221452.0, "raum_band": "over_5b", "raum_band_label": "Over $5 billion", "total_employees": 89, "advisory_employees": 31, "client_count_bucket": null, "clients_by_type": { "charitable": { "raum": 38207944.0, "count": 7 }, "individuals": { "raum": 135992749.0, "count": 428 }, "high_net_worth_individuals": { "raum": 3790841146.0, "count": 594 }, "pooled_investment_vehicles": { "raum": 1084458088.0, "count": 34 }, "corporations_other_businesses": { "raum": 373153541.0, "count": 5 } }, "compensation_types": [ "fixed", "percentage_of_aum", "performance_based" ], "advisory_activities": [ "financial_planning", "pension_consulting", "portfolio_management_businesses_institutional", "portfolio_management_individuals", "portfolio_management_pooled_vehicles", "selection_of_other_advisers" ], "wrap_fee_participant": false, "disclosure_yes_count": 0, "states_registered": [ "AZ", "CA", "CO", "CT", "FL", "GA", "IL", "KS", "LA", "MO", "NH", "NJ", "NY", "TN", "TX", "VA", "WA" ], "websites": [ "https://facebook.com/TRUENORTHDALLAS", "https://instagram.com/truenorthadvisorstx", "https://linkedin.com/COMPANY/TRUE-NORTH-ADVISORS", "https://open.spotify.com/show/3EhHbVcglw8byCA4atwCqt?dlsi=873e5517c351410f&nd=1&si=_xqQlPTAQ36bwA--bdk4PA", "https://podcasts.apple.com/us/podcast/decision-points/id1709613581", "https://tiktok.com/@truenorthadvisors?_r=1&_t=8kPXddHDtcM", "https://truenorthadvisors.com", "https://twitter.com/TRUENORTHDALLAS", "https://westernalternativestrategies.com", "https://westernalts.com", "https://youtube.com/channel/UCsCj89nNQmS_M6KunYt_Pyw" ], "iapd_url": "https://adviserinfo.sec.gov/firm/summary/116048", "city_as_filed": "DALLAS", "url": "https://advisorcensus.com/firm/true-north-advisors-llc-dallas-tx-116048", "display_name": "True North Advisors, LLC", "summary": "True North Advisors, LLC is an SEC-registered investment advisory firm in Dallas, TX, registered since 2006, reporting over $5 billion in regulatory assets under management in its Form ADV filing dated July 16, 2026.", "citation": "AdvisorCensus. True North Advisors, LLC (CRD 116048): 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)", "Performance-based fees" ], "advisory_activity_labels": [ "Financial planning services", "Portfolio management for individuals and/or small businesses", "Portfolio management for pooled investment vehicles (other than investment companies)", "Portfolio management for businesses (other than small businesses) or institutional clients", "Pension consulting services", "Selection of other advisers (including private fund managers)" ], "quick_answers": [ { "q": "How is True North Advisors, LLC compensated?", "a": "On its Form ADV (Item 5.E, October 2026), True North Advisors, LLC reports these compensation arrangements: a percentage of assets under its management; fixed fees (other than subscription fees); performance-based fees." }, { "q": "How much does True North Advisors, LLC charge?", "a": "Its Form ADV Part 2A brochure dated March 27, 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." }, { "q": "Where is True North Advisors, LLC located?", "a": "True North Advisors, LLC's principal office is in Dallas, TX, according to its Form ADV; the August 2026 filing also lists 4 other offices (Schedule D, Section 1.F)." }, { "q": "Is True North Advisors, LLC registered with the SEC or a state?", "a": "True North Advisors, LLC is an SEC-registered investment advisory firm, registered since 2006. Status as filed: Approved. CRD 116048." }, { "q": "How much does True North Advisors, LLC manage?", "a": "True North Advisors, LLC reports $5,422,653,468 in regulatory assets under management in its Form ADV filing dated July 16, 2026 (93% discretionary)." }, { "q": "How have True North Advisors, LLC's assets and staff changed since 2021?", "a": "In the Form ADV data for True North Advisors, LLC: Regulatory assets under management: $2,338,099,413 in the October 2021 data and $5,422,653,468 in the October 2026 data, up 132%. Total employees: 37 in October 2021 and 89 in October 2026. Assets under management move with markets as well as with clients coming and going." }, { "q": "What types of clients does True North Advisors, LLC serve?", "a": "By number of clients on Form ADV Item 5.D: high net worth individuals (594); individuals (other than high net worth individuals) (428); pooled investment vehicles (other than investment companies and business development companies) (34)." }, { "q": "Which custodians does True North Advisors, LLC use?", "a": "True North Advisors, LLC's most recent Form ADV filing (Schedule D, Section 5.K(3)) lists Charles Schwab and Fidelity as custodians holding 10% or more of its separately managed account assets." }, { "q": "Does True North Advisors, LLC 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/116048" }, { "q": "What changed in True North Advisors, LLC's recent Form ADV filings?", "a": "In the August 2026 filing data: Changed its office addresses in Fort Worth, TX." } ], "filing_history": [ { "period": "2021-10-01", "regulatory_assets_under_management": 2338099413.0, "total_employees": 37, "filing_date": "2021-08-19" }, { "period": "2022-10-01", "regulatory_assets_under_management": 2871743854.0, "total_employees": 37, "filing_date": "2022-03-29" }, { "period": "2023-10-01", "regulatory_assets_under_management": 3006399719.0, "total_employees": 42, "filing_date": "2023-10-03" }, { "period": "2024-10-01", "regulatory_assets_under_management": 3341152592.0, "total_employees": 52, "filing_date": "2024-09-26" }, { "period": "2025-10-01", "regulatory_assets_under_management": 4478245158.0, "total_employees": 65, "filing_date": "2025-03-31" }, { "period": "2026-10-01", "regulatory_assets_under_management": 5422653468.0, "total_employees": 89, "filing_date": "2026-07-16" } ], "recent_changes": [ { "period": "2026-08-01", "period_label": "August 2026", "notes": [ "Changed its office addresses in Fort Worth, TX." ] }, { "period": "2026-04-01", "period_label": "April 2026", "notes": [ "Employees performing advisory functions went from 28 to 31.", "Regulatory assets under management went from $4,478,245,158 to $5,422,653,468 (+21%)." ] }, { "period": "2026-02-01", "period_label": "February 2026", "notes": [ "Registered or notice-filed in NJ, TN." ] }, { "period": "2026-01-01", "period_label": "January 2026", "notes": [ "Registered or notice-filed in CT, NY, WA." ] } ], "fees_from_brochure": { "source": "Form ADV Part 2A brochure dated March 27, 2026", "provided_by_the_firm": false, "tiers": [], "flat_rate": null, "stated_range": "0.25% to 1.5% a year", "stated_maximum": null, "account_minimum": null, "account_minimum_may_be_waived": false, "minimum_annual_fee": null, "planning_fees": [], "figures": [ { "label": "Asset-based fee", "statements": [ "Asset-based fee: 0.25% to 1.5% a year (a range, as the brochure states it)" ], "quotes": [ "For its investment management services, True North charges a fee ranging from 0.25% to 1.50% of assets under management." ] } ], "values": { "tiers": [], "range_pct": [ 0.25, 1.5 ], "max_pct": null, "account_minimum": null, "minimum_annual_fee": null, "planning": [] }, "quotes": [ "For its investment management services, True North charges a fee ranging from 0.25% to 1.50% of assets under management." ], "note": "As stated in the firm's brochure; fees can differ by service and may be negotiable." }, "custodians": [ { "name": "Charles Schwab", "name_as_filed": "CHARLES SCHWAB", "affiliated": false }, { "name": "Fidelity", "name_as_filed": "FIDELITY", "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/true-north-advisors-llc-dallas-tx-116048.md", "clients": [ { "type": "individuals", "label": "Individuals (other than high net worth individuals)", "count": 428, "fewer_than_5": false, "raum": 135992749.0 }, { "type": "high_net_worth_individuals", "label": "High net worth individuals", "count": 594, "fewer_than_5": false, "raum": 3790841146.0 }, { "type": "pooled_investment_vehicles", "label": "Pooled investment vehicles (other than investment companies and business development companies)", "count": 34, "fewer_than_5": false, "raum": 1084458088.0 }, { "type": "charitable", "label": "Charitable organizations", "count": 7, "fewer_than_5": false, "raum": 38207944.0 }, { "type": "corporations_other_businesses", "label": "Corporations or other businesses not listed above", "count": 5, "fewer_than_5": false, "raum": 373153541.0 } ], "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/116048", "operator": "BH Monitor Services, LLC", "license": "https://creativecommons.org/licenses/by/4.0/", "credit": "AdvisorCensus (advisorcensus.com), from SEC Form ADV data" } }