Asset manager · Boise, ID
Clearwater Advisors, LLC
SEC-registered investment adviser · CRD 116865 · SEC 801-60686
At a glance
Clearwater Advisors, LLC is an SEC-registered investment adviser based in Boise, Idaho, with $4.7 billion in regulatory assets under management as of its Form ADV filed May 7, 2026. Its largest client group by assets is corporations or other businesses. By Form ADV it is a asset manager, ranked 714th of 3,218 asset managers and 2,203rd of 17,210 SEC-registered advisers by assets.
Main office 208-433-1222clearwateradvisors.comLinkedInAs filed on Form ADV
- Regulatory AUM
- $4.7B
- Rank among asset managers
- #714 of 3,218
- Rank among all SEC RIAs
- #2,203 of 17,210
- Rank in Idaho
- #2 of 54
- Clients
- 32
- Accounts
- 84
- Discretionary
- 84% of AUM
- Employees
- 9
- Advisory staff
- 5
- Offices
- 3
Owners and executives on its Form ADV
- C D. DunnManager
- Rhet N. HulbertMember
- Hayley N. NelsonChief Compliance Officer
- Daniel BatesChief Executive Officer
Custody and brokerage
2 custodians
- U.S. Bancorp Investments$2.6B75%
- BNY$876M25%
Other RIAs using U.S. Bancorp InvestmentsOther multi-custodian RIAs
Who it serves
| Client type | Clients | Regulatory AUM | Share |
|---|---|---|---|
| Corporations or other businesses | 17 | $2.3B | 49% |
| Pension and profit sharing plans | – | $861M | 19% |
| State or municipal government entities | 10 | $740M | 16% |
| Insurance companies | 5 | $626M | 13% |
| High-net-worth individuals | – | $79M | 2% |
| Banking or thrift institutions | – | $43M | <1% |
Disciplinary disclosures
Clearwater Advisors, LLC reports no disciplinary disclosures in Item 11 of Form ADV. Read the details on the SEC’s adviser search ↗
Services
- Portfolio management for individuals and small businesses
- Portfolio management for businesses and institutions
- Other services
How it’s paid
- A percentage of assets under management
- Fixed fees
Form ADV and brochures on the SEC’s adviser search ↗clearwateradvisors.com ↗
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The full record on Clearwater Advisors, LLC
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 711 peers of its type and size
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- Owners and executives, with titles and stakes
- 4 namedLocked
- Main office, fax and compliance officer
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- Filing changes this year, with alerts
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Free while Atlas launches: create a free account and confirm your email. Every figure comes from SEC filings.
Background
Questions
How much does Clearwater Advisors, LLC manage?
Clearwater Advisors, LLC reports $4.7 billion in regulatory assets under management across 84 accounts, 84% of it on a discretionary basis, on its Form ADV filed May 7, 2026.
What kind of firm is Clearwater Advisors, LLC?
Clearwater Advisors, LLC is a asset manager by its Form ADV answers. Most of its assets are managed for funds, institutions or other businesses rather than individuals.
Who are Clearwater Advisors, LLC’s clients?
By assets, its largest client types are corporations or other businesses ($2.3 billion, 17 clients); pension and profit sharing plans ($861 million); state or municipal government entities ($740 million, 10 clients).
Does Clearwater Advisors, LLC have any disciplinary history?
Clearwater Advisors, LLC reports no disciplinary disclosures in Item 11 of its Form ADV. Check the SEC’s adviser search for the latest record.
Where these numbers come from
Every figure is Clearwater Advisors, 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 (2026-05-07), 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). Ranks compare it by regulatory assets with every SEC-registered adviser and with firms of its type. 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 →