{
  "crd_number": 327254,
  "slug": "watercolor-financial-austin-tx-327254",
  "primary_business_name": "WATERCOLOR FINANCIAL",
  "legal_name": "CBM FINANCIAL, LLC",
  "dbas": [],
  "city": "Austin",
  "state": "TX",
  "country": "United States",
  "cbsa_code": "12420",
  "metro": {
    "cbsa_code": "12420",
    "common_name": "Austin",
    "msa_name": "Austin-Round Rock-San Marcos, TX",
    "path": "/advisors/tx/austin"
  },
  "registration_type": "sec",
  "registration_status": "Approved",
  "registration_date": "2023-08-11",
  "years_registered": 3,
  "period": "2026-10-01",
  "filing_date": "2026-03-27",
  "carried_forward": false,
  "raum_total": 234750441.0,
  "raum_discretionary": 234750441.0,
  "raum_non_discretionary": 0.0,
  "raum_band": "100m_500m",
  "raum_band_label": "$100 million to $500 million",
  "total_employees": 3,
  "advisory_employees": 3,
  "client_count_bucket": null,
  "clients_by_type": {
    "individuals": {
      "raum": 48590933.0,
      "count": 70
    },
    "high_net_worth_individuals": {
      "raum": 186159508.0,
      "count": 82
    }
  },
  "compensation_types": [
    "percentage_of_aum"
  ],
  "advisory_activities": [
    "financial_planning",
    "pension_consulting",
    "portfolio_management_individuals"
  ],
  "wrap_fee_participant": false,
  "disclosure_yes_count": 0,
  "states_registered": [
    "NE",
    "TX"
  ],
  "websites": [
    "https://linkedin.com/company/watercolor-financial",
    "https://linkedin.com/in/bleckleydobbs",
    "https://linkedin.com/in/cassgrange",
    "https://linkedin.com/in/meganpoore",
    "https://watercolorfinancial.com"
  ],
  "iapd_url": "https://adviserinfo.sec.gov/firm/summary/327254",
  "city_as_filed": "AUSTIN",
  "url": "https://advisorcensus.com/firm/watercolor-financial-austin-tx-327254",
  "display_name": "Watercolor Financial",
  "summary": "Watercolor Financial is an SEC-registered investment advisory firm in Austin, TX, registered since 2023, reporting $100 million to $500 million in regulatory assets under management in its Form ADV filing dated March 27, 2026.",
  "citation": "AdvisorCensus. Watercolor Financial (CRD 327254): Form ADV filing data as of October 2026.",
  "registration_type_label": "SEC-registered investment adviser",
  "compensation_labels": [
    "A percentage of assets under your management"
  ],
  "advisory_activity_labels": [
    "Financial planning services",
    "Portfolio management for individuals and/or small businesses",
    "Pension consulting services"
  ],
  "quick_answers": [
    {
      "q": "How is Watercolor Financial compensated?",
      "a": "On its Form ADV (Item 5.E, October 2026), Watercolor Financial reports these compensation arrangements: a percentage of assets under its management."
    },
    {
      "q": "Where is Watercolor Financial located?",
      "a": "Watercolor Financial's principal office is in Austin, TX, according to its Form ADV."
    },
    {
      "q": "Is Watercolor Financial registered with the SEC or a state?",
      "a": "Watercolor Financial is an SEC-registered investment advisory firm, registered since 2023. Status as filed: Approved. CRD 327254."
    },
    {
      "q": "How much does Watercolor Financial manage?",
      "a": "Watercolor Financial reports $234,750,441 in regulatory assets under management in its Form ADV filing dated March 27, 2026 (100% discretionary)."
    },
    {
      "q": "How have Watercolor Financial's assets and staff changed since 2023?",
      "a": "In the Form ADV data for Watercolor Financial: Regulatory assets under management: $0 in the October 2023 data and $234,750,441 in the October 2026 data. Total employees: 3 in October 2023 and 3 in October 2026. Assets under management move with markets as well as with clients coming and going."
    },
    {
      "q": "What types of clients does Watercolor Financial serve?",
      "a": "By number of clients on Form ADV Item 5.D: high net worth individuals (82); individuals (other than high net worth individuals) (70)."
    },
    {
      "q": "Which custodians does Watercolor Financial use?",
      "a": "Watercolor Financial'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 Watercolor Financial 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/327254"
    },
    {
      "q": "Does Watercolor Financial state an account minimum?",
      "a": "Its Form ADV Part 2A brochure dated March 27, 2026 says: \"Watercolor Financial has an account minimum of $1,000,000 per household. However, we retain discretion to accept clients with smaller portfolios.\""
    },
    {
      "q": "What changed in Watercolor Financial's recent Form ADV filings?",
      "a": "In the April 2026 filing data: Regulatory assets under management went from $184,775,297 to $234,750,441 (+27%)."
    }
  ],
  "filing_history": [
    {
      "period": "2023-10-01",
      "regulatory_assets_under_management": 0.0,
      "total_employees": 3,
      "filing_date": "2023-09-12"
    },
    {
      "period": "2024-10-01",
      "regulatory_assets_under_management": 152823767.0,
      "total_employees": 3,
      "filing_date": "2024-08-19"
    },
    {
      "period": "2025-10-01",
      "regulatory_assets_under_management": 184775297.0,
      "total_employees": 3,
      "filing_date": "2025-03-19"
    },
    {
      "period": "2026-10-01",
      "regulatory_assets_under_management": 234750441.0,
      "total_employees": 3,
      "filing_date": "2026-03-27"
    }
  ],
  "recent_changes": [
    {
      "period": "2026-04-01",
      "period_label": "April 2026",
      "notes": [
        "Regulatory assets under management went from $184,775,297 to $234,750,441 (+27%)."
      ]
    }
  ],
  "fees_from_brochure": {
    "source": "Form ADV Part 2A brochure dated March 27, 2026",
    "provided_by_the_firm": false,
    "tiers": [],
    "flat_rate": null,
    "stated_range": null,
    "stated_maximum": null,
    "account_minimum": "$1,000,000",
    "account_minimum_may_be_waived": true,
    "minimum_annual_fee": null,
    "planning_fees": [],
    "figures": [
      {
        "label": "Account minimum",
        "statements": [
          "Account minimum: $1,000,000 (the brochure says it may be waived or negotiated)"
        ],
        "quotes": [
          "Watercolor Financial has an account minimum of $1,000,000 per household. However, we retain discretion to accept clients with smaller portfolios."
        ]
      }
    ],
    "values": {
      "tiers": [],
      "range_pct": null,
      "max_pct": null,
      "account_minimum": 1000000.0,
      "minimum_annual_fee": null,
      "planning": []
    },
    "quotes": [
      "Watercolor Financial has an account minimum of $1,000,000 per household. However, we retain discretion to accept clients with smaller portfolios."
    ],
    "note": "As stated in the firm's brochure; fees can differ by service and may be negotiable."
  },
  "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/watercolor-financial-austin-tx-327254.md",
  "clients": [
    {
      "type": "individuals",
      "label": "Individuals (other than high net worth individuals)",
      "count": 70,
      "fewer_than_5": false,
      "raum": 48590933.0
    },
    {
      "type": "high_net_worth_individuals",
      "label": "High net worth individuals",
      "count": 82,
      "fewer_than_5": false,
      "raum": 186159508.0
    }
  ],
  "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/327254",
    "operator": "BH Monitor Services, LLC",
    "license": "https://creativecommons.org/licenses/by/4.0/",
    "credit": "AdvisorCensus (advisorcensus.com), from SEC Form ADV data"
  }
}