# U.S. Bancorp Advisors, LLC

> U.S. Bancorp Advisors, LLC is an SEC-registered investment advisory firm in Saint Paul, MN, registered since 2009, reporting $1 billion to $5 billion in regulatory assets under management in its Form ADV filing dated September 25, 2026.

- CRD: 14455
- Filed as: U.S. BANCORP ADVISORS, LLC
- Registration: SEC-registered investment adviser (status as filed: Approved)
- Location: Saint Paul, MN
- Filing period: October 2026
- Form ADV filing dated: September 25, 2026
- SEC record (IAPD): https://adviserinfo.sec.gov/firm/summary/14455
- AdvisorCensus page: https://advisorcensus.com/firm/u-s-bancorp-advisors-llc-saint-paul-mn-14455

## Quick answers

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

**Where is U.S. Bancorp Advisors, LLC located?**
U.S. Bancorp Advisors, LLC's principal office is in Saint Paul, MN, according to its Form ADV; the October 2026 filing also lists 25 other offices (Schedule D, Section 1.F).

**Is U.S. Bancorp Advisors, LLC registered with the SEC or a state?**
U.S. Bancorp Advisors, LLC is an SEC-registered investment advisory firm, registered since 2009. Status as filed: Approved. CRD 14455.

**How much does U.S. Bancorp Advisors, LLC manage?**
U.S. Bancorp Advisors, LLC reports $1,796,069,079 in regulatory assets under management in its Form ADV filing dated September 25, 2026 (94% discretionary).

**How have U.S. Bancorp Advisors, LLC's assets and staff changed since 2021?**
In the Form ADV data for U.S. Bancorp Advisors, LLC: Regulatory assets under management: $1,688,078,932 in the October 2021 data and $1,796,069,079 in the October 2026 data, up 6%. Total employees: 424 in October 2021 and 379 in October 2026. Assets under management move with markets as well as with clients coming and going.

**What types of clients does U.S. Bancorp Advisors, LLC serve?**
By number of clients on Form ADV Item 5.D: individuals (other than high net worth individuals) (2,809); high net worth individuals (436); corporations or other businesses not listed above (73).

**Which custodians does U.S. Bancorp Advisors, LLC use?**
U.S. Bancorp Advisors, 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.

**Does U.S. Bancorp Advisors, LLC report any disciplinary disclosures?**
Reports 8 disclosure items on Form ADV Item 11: yes answers to 8 questions about regulatory matters (11.C(2), 11.C(4), 11.C(5), 11.D(1), 11.D(2), 11.D(4), 11.D(5), 11.E(2)). 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/14455

**What changed in U.S. Bancorp Advisors, LLC's recent Form ADV filings?**
In the October 2026 filing data: Updated its list of owners and control persons (Schedule A).

## From the Form ADV filing

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

### Custodians (Schedule D, Section 5.K(3))
- National Financial Services 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: $1,796,069,079
- Discretionary: $1,691,612,941
- Non-discretionary: $104,456,138

### Clients (Item 5.D)

| Client type | Clients | Assets |
| --- | --- | --- |
| Individuals (other than high net worth individuals) | 2,809 | $1,117,580,177 |
| High net worth individuals | 436 | $567,193,272 |
| Pension and profit sharing plans (but not the plan participants or government pension plans) | 25 | $25,549,466 |
| Charitable organizations | Fewer than 5 | $2,060,980 |
| Corporations or other businesses not listed above | 73 | $83,685,184 |

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

### Firm details
- Registered since: 2009 (17 years)
- Employees: 379 total, 141 performing advisory functions
- Wrap fee program participation: Yes
- States registered or notice-filed: AK, AL, AR, AZ, CA, CO, CT, DC, DE, FL, GA, HI, IA, ID, IL, IN, KS, KY, LA, MA, MD, ME, MI, MN, MO, MS, MT, NC, ND, NE, NH, NJ, NM, NV, NY, OH, OK, OR, PA, PR, RI, SC, SD, TN, TX, UT, VA, VT, WA, WI, WV, WY
- Disclosures (Item 11): Reports 8 disclosure items on Form ADV Item 11.

### Item 11 questions answered yes
- 11.C(2): 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?
- 11.C(4): Has the SEC or the CFTC ever entered an order against the firm or an advisory affiliate in connection with investment-related activity?
- 11.C(5): 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?
- 11.D(1): Has another federal regulator, a state regulator, or a foreign financial regulator ever found that the firm or an advisory affiliate made a false statement or omission, or was dishonest, unfair, or unethical?
- 11.D(2): Has another federal regulator, a state regulator, or a foreign financial regulator ever found that the firm or an advisory affiliate was involved in a violation of investment-related regulations or statutes?
- 11.D(4): In the past ten years, has another federal regulator, a state regulator, or a foreign financial regulator entered an order against the firm or an advisory affiliate in connection with investment-related activity?
- 11.D(5): Has another federal regulator, a state regulator, or a foreign financial regulator ever denied, suspended, or revoked the registration or license of the firm or an advisory affiliate, prevented either by order from associating with an investment-related business, or restricted either one's activity?
- 11.E(2): Has a self-regulatory organization or a commodities exchange ever found that the firm or an advisory affiliate was involved in a violation of its rules, other than a minor rule violation under a plan the SEC approved?

Each question covers the firm and its advisory affiliates: its current employees other than clerical staff, its officers, partners, and directors, and anyone who controls the firm or is controlled by it. One event can produce yes answers to several questions. SEC-registered advisers and exempt reporting advisers may leave out events more than ten years old, and may answer 11.A(2) and 11.B(2) for pending charges only. The detail of each yes answer is on the firm's SEC record: https://adviserinfo.sec.gov/firm/summary/14455

### Other offices (Schedule D, Section 1.F), as of the October 2026 filing
- Arcadia, CA
- Beverly Hills, CA
- Cerritos, CA
- Chula Vista, CA
- Cincinnati, OH
- City of Industry, CA
- Cupertino, CA
- Encinitas, CA
- Gardena, CA
- Glendale, CA
- Glendora, CA
- Los Angeles, CA
- Manhattan Beach, CA
- Montebello, CA
- Newport Beach, CA
- San Diego, CA
- San Francisco, CA
- Santa Barbara, CA
- Santa Monica, CA
- Seattle, WA
- Studio City, CA
- Tempe, AZ
- Torrance, CA
- Tustin, CA
- Yorba Linda, CA

### Websites listed on Form ADV (Item 1.I)
- usbank.com/wealth-management.html

## Assets and staff over time

| Data period | Regulatory assets under management | Employees | Filing dated |
| --- | --- | --- | --- |
| October 2021 | $1,688,078,932 | 424 | May 19, 2021 |
| October 2022 | $1,907,750,574 | 391 | July 5, 2022 |
| October 2023 | $1,473,263,990 | 388 | August 28, 2023 |
| October 2024 | $1,387,160,512 | 238 | June 10, 2024 |
| October 2025 | $1,516,483,817 | 244 | April 4, 2025 |
| October 2026 | $1,796,069,079 | 379 | September 25, 2026 |

Regulatory assets under management: $1,688,078,932 in the October 2021 data and $1,796,069,079 in the October 2026 data, up 6%.
Total employees: 424 in October 2021 and 379 in October 2026.

## Changes in the filing (last 12 months)

### October 2026
- Updated its list of owners and control persons (Schedule A).

### August 2026
- Item 11 disclosure answers changed: 8 yes answers, previously 9 (now no: 11.A(2)).

### April 2026
- Employees performing advisory functions went from 126 to 141.
- Regulatory assets under management went from $1,516,483,817 to $1,796,069,079 (+18%).
- Changed its office addresses in Chula Vista, CA.
- Changed its office addresses in City of Industry, CA.
- Changed its office addresses in Gardena, CA.
- Changed its office addresses in Los Angeles, CA.
- Changed its office addresses in Newport Beach, CA.
- Changed its office addresses in San Diego, CA.
- Changed its office addresses in San Francisco, CA.
- Changed its office addresses in Santa Barbara, CA.
- Changed its office addresses in Santa Monica, CA.
- Added an office in Arcadia, CA.
- Added an office in Cerritos, CA.
- Added an office in Cincinnati, OH.
- Added an office in Cupertino, CA.
- Added an office in Encinitas, CA.
- Added an office in Manhattan Beach, CA.
- Added an office in Montebello, CA.
- Added an office in Torrance, CA.
- Added an office in Yorba Linda, CA.
- No longer lists an office in Coronado, CA.
- No longer lists an office in Costa Mesa, CA.
- No longer lists an office in Irvine, CA.
- No longer lists an office in National City, CA.
- No longer lists an office in Palm Desert, CA.
- No longer lists an office in San Gabriel, CA.
- No longer lists an office in Tustin, CA.
- Updated its list of owners and control persons (Schedule A).

### March 2026
- Item 11 disclosure answers changed: 9 yes answers, previously 6 (now yes: 11.C(2), 11.C(4), 11.C(5)).
- Registered or notice-filed in PR.

### November 2025
- Updated its list of owners and control persons (Schedule A).

## Source

Form ADV as filed, October 2026. Values appear as filed. Cite as: AdvisorCensus. U.S. Bancorp Advisors, LLC (CRD 14455): Form ADV filing data as of October 2026.