# True North Advisors, LLC

> 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.

- CRD: 116048
- Filed as: TRUE NORTH ADVISORS, LLC
- Registration: SEC-registered investment adviser (status as filed: Approved)
- Location: Dallas, TX
- Filing period: October 2026
- Form ADV filing dated: July 16, 2026
- SEC record (IAPD): https://adviserinfo.sec.gov/firm/summary/116048
- AdvisorCensus page: https://advisorcensus.com/firm/true-north-advisors-llc-dallas-tx-116048

## Quick answers

**How is True North Advisors, LLC compensated?**
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.

**How much does True North Advisors, LLC charge?**
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.

**Where is True North Advisors, LLC located?**
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).

**Is True North Advisors, LLC registered with the SEC or a state?**
True North Advisors, LLC is an SEC-registered investment advisory firm, registered since 2006. Status as filed: Approved. CRD 116048.

**How much does True North Advisors, LLC manage?**
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).

**How have True North Advisors, LLC's assets and staff changed since 2021?**
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.

**What types of clients does True North Advisors, LLC serve?**
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).

**Which custodians does True North Advisors, LLC use?**
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.

**Does True North Advisors, LLC 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/116048

**What changed in True North Advisors, LLC's recent Form ADV filings?**
In the August 2026 filing data: Changed its office addresses in Fort Worth, TX.

## From the Form ADV filing

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

### Fees and minimums (Form ADV Part 2A brochure dated March 27, 2026)

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

> For its investment management services, True North charges a fee ranging from 0.25% to 1.50% of assets under management.

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

### Custodians (Schedule D, Section 5.K(3))
- Charles Schwab
- Fidelity

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: $5,422,653,468
- Discretionary: $5,020,432,016
- Non-discretionary: $402,221,452

### Clients (Item 5.D)

| Client type | Clients | Assets |
| --- | --- | --- |
| Individuals (other than high net worth individuals) | 428 | $135,992,749 |
| High net worth individuals | 594 | $3,790,841,146 |
| Pooled investment vehicles (other than investment companies and business development companies) | 34 | $1,084,458,088 |
| Charitable organizations | 7 | $38,207,944 |
| Corporations or other businesses not listed above | 5 | $373,153,541 |

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

### Firm details
- Registered since: 2006 (20 years)
- Employees: 89 total, 31 performing advisory functions
- Wrap fee program participation: No
- States registered or notice-filed: AZ, CA, CO, CT, FL, GA, IL, KS, LA, MO, NH, NJ, NY, TN, TX, VA, WA
- 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
- Austin, TX
- Danville, CA
- Fort Worth, TX
- Kerrville, TX

### Websites listed on Form ADV (Item 1.I)
- open.spotify.com/show/3EhHbVcglw8byCA4atwCqt
- podcasts.apple.com/us/podcast/decision-points/id1709613581
- truenorthadvisors.com
- westernalternativestrategies.com
- westernalts.com
- Facebook @TRUENORTHDALLAS
- Instagram @truenorthadvisorstx
- LinkedIn @TRUE-NORTH-ADVISORS
- TikTok @truenorthadvisors
- X @TRUENORTHDALLAS
- YouTube @UCsCj89nNQmS_M6KunYt_Pyw

## Assets and staff over time

| Data period | Regulatory assets under management | Employees | Filing dated |
| --- | --- | --- | --- |
| October 2021 | $2,338,099,413 | 37 | August 19, 2021 |
| October 2022 | $2,871,743,854 | 37 | March 29, 2022 |
| October 2023 | $3,006,399,719 | 42 | October 3, 2023 |
| October 2024 | $3,341,152,592 | 52 | September 26, 2024 |
| October 2025 | $4,478,245,158 | 65 | March 31, 2025 |
| October 2026 | $5,422,653,468 | 89 | July 16, 2026 |

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.

## Changes in the filing (last 12 months)

### August 2026
- Changed its office addresses in Fort Worth, TX.

### April 2026
- 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%).

### February 2026
- Registered or notice-filed in NJ, TN.

### January 2026
- Registered or notice-filed in CT, NY, WA.

## Source

Form ADV as filed, October 2026. Values appear as filed. Cite as: AdvisorCensus. True North Advisors, LLC (CRD 116048): Form ADV filing data as of October 2026.