# TSFG, LLC

> TSFG, LLC is an SEC-registered investment advisory firm in Lake Forest, IL, registered since 2015, reporting $500 million to $1 billion in regulatory assets under management in its Form ADV filing dated August 12, 2026.

- CRD: 172555
- Registration: SEC-registered investment adviser (status as filed: Approved)
- Location: Lake Forest, IL
- Filing period: October 2026
- Form ADV filing dated: August 12, 2026
- SEC record (IAPD): https://adviserinfo.sec.gov/firm/summary/172555
- AdvisorCensus page: https://advisorcensus.com/firm/tsfg-llc-lake-forest-il-172555

## Quick answers

**How is TSFG, LLC compensated?**
On its Form ADV (Item 5.E, October 2026), TSFG, LLC reports these compensation arrangements: a percentage of assets under its management. The amounts are in Item 5 of its Form ADV Part 2A brochure.

**Where is TSFG, LLC located?**
TSFG, LLC's principal office is in Lake Forest, IL, according to its Form ADV; the September 2026 filing also lists 1 other office (Schedule D, Section 1.F).

**Is TSFG, LLC registered with the SEC or a state?**
TSFG, LLC is an SEC-registered investment advisory firm, registered since 2015. Status as filed: Approved. CRD 172555.

**How much does TSFG, LLC manage?**
TSFG, LLC reports $642,831,006 in regulatory assets under management in its Form ADV filing dated August 12, 2026 (100% discretionary).

**How have TSFG, LLC's assets and staff changed since 2021?**
In the Form ADV data for TSFG, LLC: Regulatory assets under management: $458,133,634 in the October 2021 data and $642,831,006 in the October 2026 data, up 40%. Total employees: 13 in October 2021 and 9 in October 2026. Assets under management move with markets as well as with clients coming and going.

**What types of clients does TSFG, LLC serve?**
By number of clients on Form ADV Item 5.D: individuals (other than high net worth individuals) (654); high net worth individuals (207); charitable organizations (2).

**Which custodians does TSFG, LLC use?**
TSFG, LLC's most recent Form ADV filing (Schedule D, Section 5.K(3)) lists LPL Financial LLC as a custodian holding 10% or more of its separately managed account assets.

**Does TSFG, 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/172555

**What changed in TSFG, LLC's recent Form ADV filings?**
In the September 2026 filing data: Employees performing advisory functions went from 7 to 6. Regulatory assets under management went from $997,218,360 to $642,831,006 (-36%).

## From the Form ADV filing

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

### Custodians (Schedule D, Section 5.K(3))
- LPL Financial 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: $642,831,006
- Discretionary: $642,831,006
- Non-discretionary: $0

### Clients (Item 5.D)

| Client type | Clients | Assets |
| --- | --- | --- |
| Individuals (other than high net worth individuals) | 654 | $248,333,082 |
| High net worth individuals | 207 | $392,835,487 |
| Banking or thrift institutions | 0 | $0 |
| Investment companies | 0 | $0 |
| Business development companies | 0 | $0 |
| Pooled investment vehicles (other than investment companies and business development companies) | 0 | $0 |
| Pension and profit sharing plans (but not the plan participants or government pension plans) | 0 | $0 |
| Charitable organizations | 2 | $1,252,999 |
| State or municipal government entities (including government pension plans) | 0 | $0 |
| Other investment advisers | 0 | $0 |
| Insurance companies | 0 | $0 |
| Sovereign wealth funds and foreign official institutions | 0 | $0 |
| Corporations or other businesses not listed above | 1 | $409,438 |
| Other | 0 | $0 |

### Advisory services (Item 5.G)
- Financial planning services
- Portfolio management for individuals and/or small businesses
- Pension consulting services
- Selection of other advisers (including private fund managers)

### Firm details
- Registered since: 2015 (11 years)
- Employees: 9 total, 6 performing advisory functions
- Wrap fee program participation: Yes
- States registered or notice-filed: AZ, CA, CO, FL, GA, IL, IN, ME, MI, MN, MO, NC, NE, NV, NY, SC, TN, TX, VA, WA, WI
- Disclosures (Item 11): Reports no disclosure items on Form ADV Item 11.

### Other offices (Schedule D, Section 1.F), as of the September 2026 filing
- Gurnee, IL

### Websites listed on Form ADV (Item 1.I)
- gibbonsfinancialgroup.com
- tsfinancialgroupllc.com
- Facebook @GibbonsFinancialGroup
- LinkedIn @gibbons-financial-group
- LinkedIn @ts-financial-group-llc
- X @ts_financial

## Assets and staff over time

| Data period | Regulatory assets under management | Employees | Filing dated |
| --- | --- | --- | --- |
| October 2021 | $458,133,634 | 13 | August 26, 2021 |
| October 2022 | $623,021,547 | 13 | February 16, 2022 |
| October 2023 | $577,279,547 | 13 | July 3, 2023 |
| October 2024 | $649,059,636 | 17 | September 10, 2024 |
| October 2025 | $854,306,837 | 18 | March 3, 2025 |
| October 2026 | $642,831,006 | 9 | August 12, 2026 |

Regulatory assets under management: $458,133,634 in the October 2021 data and $642,831,006 in the October 2026 data, up 40%.
Total employees: 13 in October 2021 and 9 in October 2026.

## Changes in the filing (last 12 months)

### September 2026
- Employees performing advisory functions went from 7 to 6.
- Regulatory assets under management went from $997,218,360 to $642,831,006 (-36%).

### August 2026
- Employees performing advisory functions went from 13 to 7.
- No longer lists an office in Houston, TX.
- No longer lists an office in Mundelein, IL.
- Updated its list of owners and control persons (Schedule A).

### April 2026
- Employees performing advisory functions went from 12 to 13.
- Added an office in Houston, TX.

### March 2026
- Regulatory assets under management went from $854,306,837 to $997,218,360 (+17%).
- Changed its office addresses in Mundelein, IL.

## Source

Form ADV as filed, October 2026. Values appear as filed. Cite as: AdvisorCensus. TSFG, LLC (CRD 172555): Form ADV filing data as of October 2026.