Wealth manager, bank-affiliated · Frisco, TX
Cain, Watters & Associates, LLC
SEC-registered investment adviser · CRD 111521 · SEC 801-39899
At a glance
Cain, Watters & Associates, LLC is an SEC-registered investment adviser based in Frisco, Texas, with $5.0B in regulatory assets under management as of its Form ADV filed June 4, 2026. It reports 2,274 individual clients, 800 of them high-net-worth, holding an average of about $1.3 million each, and 341 employees. That ranks it 220th among the nation’s 5,657 independent wealth management RIAs and 12th of 367 in Texas. It reports 2 custodians for its clients’ separately managed accounts: Charles Schwab and T Bank.
Main office 972-233-3323cainwatters.comLinkedInAs filed on Form ADV
- Regulatory AUM
- $5.0B
- Rank among independent wealth managers
- #220 of 5,657
- Rank among all SEC RIAs
- #2,094 of 17,210
- Rank in Texas
- #12 of 367
- Individual clients
- 2,274
- High-net-worth clients
- 800
- Accounts
- 12,138
- Discretionary
- 47% of AUM
- Employees
- 341
- Advisory staff
- 86
- Offices
- 3
Owners and executives on its Form ADV
- Jeremy L. BolfChief Compliance Officer
- Scott ErwinChief Operations Officer
Custody and brokerage
Broker-dealer
Affiliated broker-dealer
It names an affiliated broker-dealer: Sanders Morris LLC.
- Sanders Morris LLC
Who it serves
| Client type | Clients | Regulatory AUM | Share |
|---|---|---|---|
| High-net-worth individuals | 800 | $2.5B | 50% |
| Other | 1,122 | $2.1B | 42% |
| Individuals | 1,474 | $426M | 8% |
| Charitable organizations | 1 | $2M | <1% |
Disciplinary disclosures
Cain, Watters & Associates, LLC reports no disciplinary disclosures in Item 11 of Form ADV. Read the details on the SEC’s adviser search ↗
Services
- Financial planning
- Portfolio management for individuals and small businesses
- Selecting other advisers
- Educational seminars and workshops
How it’s paid
- A percentage of assets under management
- Hourly charges
- Fixed fees
Form ADV and brochures on the SEC’s adviser search ↗cainwatters.com ↗
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Ten years of SEC filings, its owners and contacts, and how it stacks up against its peers. Atlas members see all of it.
- Assets, accounts, clients and staff, ten years of filings
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- Growth over one, three and five years
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- Rank against 801 peers of its type and size
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- 2 namedLocked
- Main office, fax and compliance officer
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Free while Atlas launches: create a free account and confirm your email. Every figure comes from SEC filings.
Similar-size RIAs in Texas
All of Texas →| Firm | Regulatory AUM | Clients |
|---|---|---|
| Bluespring Wealth Management, LLCAustin | $5.4B | 3,167 |
| True North Advisors, LLCDallas | $5.4B | 1,022 |
| Linscomb Wealth, Inc.Houston | $5.2B | 1,640 |
| Quotient Wealth Partners, LLCDallas | $4.9B | 2,354 |
| Avidian Wealth SolutionsHouston | $4.8B | 1,866 |
| Frost Investment ServicesSAN Antonio | $3.7B | 3,019 |
Background
Questions
How much does Cain, Watters & Associates, LLC manage?
Cain, Watters & Associates, LLC reports $5.0B in regulatory assets under management across 12,138 accounts, 47% of it on a discretionary basis, on its Form ADV filed June 4, 2026.
How many clients does Cain, Watters & Associates, LLC have?
It reports 2,274 individual clients: 800 high-net-worth individuals and 1,474 other individuals. Individuals account for about 58% of its regulatory assets.
Where is Cain, Watters & Associates, LLC headquartered?
Its main office is in Frisco, Texas. It reports 3 offices in total and 341 employees, 86 of whom perform investment advisory functions.
How does Cain, Watters & Associates, LLC charge clients?
On Form ADV it lists these forms of compensation: a percentage of assets under management; hourly charges; fixed fees. Fees and minimums are set out in its Form ADV Part 2A brochure, available on the SEC’s adviser search.
What custodian does Cain, Watters & Associates, LLC use?
It reports 2 custodians for its clients’ separately managed accounts: Charles Schwab and T Bank. On Schedule D of its Form ADV filed June 4, 2026, it reports these amounts held: Charles Schwab ($2.8B); T Bank ($2.3B). Form ADV lists only custodians holding 10% or more of separately managed account assets.
Is Cain, Watters & Associates, LLC a hybrid RIA with a broker-dealer?
It names an affiliated broker-dealer: Sanders Morris LLC.
Is Cain, Watters & Associates, LLC a fiduciary?
As an SEC-registered investment adviser, Cain, Watters & Associates, LLC owes its advisory clients a fiduciary duty under the Investment Advisers Act of 1940, which includes duties of care and loyalty. It reports no employees who are registered representatives of a broker-dealer.
Where these numbers come from
Every figure is Cain, Watters & Associates, LLC’s own answer on its latest Form ADV, from the SEC’s registered-adviser list as of October 1, 2026: regulatory assets and accounts (Item 5.F), clients by type (5.D), employees (5.A and 5.B), compensation (5.E) and services (5.G). Custodians come from Schedule D 5.K(3) of its latest filing (2026-06-04), which lists those holding 10% or more of separately managed account assets and the amount at each. “Hybrid” means some employees are also registered representatives of a broker-dealer (Item 5.B(2)); affiliated broker-dealers are the related persons it lists in Item 7.A and Schedule D. Firm type comes from its own answers: broker-dealer firms are registered broker-dealers themselves (Item 6.A); private fund advisers manage mostly private funds (Item 7.B, 5.D); wealth managers manage at least half their assets for individuals (5.D). Its national rank compares it with every US-based independent wealth management RIA, the same field as The Largest RIAs. Figures are as of the firm’s last annual update, so they can lag recent deals and market moves. Regulatory AUM counts assets the firm continuously supervises and can differ from what a firm markets.
Not an endorsement or a recommendation. Before hiring any adviser, read its Form ADV Part 2A brochure and check its record on the SEC’s adviser search. How to check a financial advisor →