A & I Financial Services provides financial planning, portfolio management for individuals and small businesses, portfolio management for institutions, selecting other managers, business succession planning, insurance, and retirement plan services. Financial planning was provided to 1–10 clients last fiscal year.
A & I Financial Services reports 518 clients. They include 353 individual clients and 165 high-net-worth individuals. Of its assets, 90.4% ($506M across 1,442 accounts) are managed with discretion; $53.7M across 241 accounts are not. It advised 2 clients without assets under management last fiscal year.
| Client type | Clients | Assets |
|---|---|---|
| Individuals (other than HNW) | 68% | 29% |
| High-net-worth individuals | 32% | 71% |
| Pension and profit-sharing plans | Fewer than 5 | <1% |
| Charitable organizations | Fewer than 5 | <1% |
Client shares use reported counts. Client types without a reported count are excluded from that total.
Client breakdown and activity details
| Client type | Clients | Regulatory AUM | AUM share | Avg. per client |
|---|---|---|---|---|
| Individuals (other than HNW) | 353 | $160M | 28.6% | $454K |
| High-net-worth individuals | 165 | $396M | 70.7% | $2.4M |
| Pension and profit-sharing plans | Fewer than 5 | $2.59M | 0.5% | — |
| Charitable organizations | Fewer than 5 | $1.22M | 0.2% | — |
| Total | 518 | $560M | 100% | — |
- Clients
- 353
- Regulatory AUM
- $160M
- AUM share
- 28.6%
- Avg. per client
- $454K
- Clients
- 165
- Regulatory AUM
- $396M
- AUM share
- 70.7%
- Avg. per client
- $2.4M
- Clients
- Fewer than 5
- Regulatory AUM
- $2.59M
- AUM share
- 0.5%
- Avg. per client
- —
- Clients
- Fewer than 5
- Regulatory AUM
- $1.22M
- AUM share
- 0.2%
- Avg. per client
- —
Total
- Clients
- 518
- Regulatory AUM
- $560M
- AUM share
- 100%
- Avg. per client
- —
- Clients outside the U.S.
- 0%
- Clients advised without assets under management last fiscal year
- 2
- Private funds advised
- 0
- Financial planning clients last fiscal year
- 1–10
A & I Financial Services charges 0.30%–1.50% a year for its Asset Management Services. The whole portfolio is charged at the rate of its band. The fee is billed in arrears and is negotiable. The brochure also prices 2 other services, listed under fee details.
| Asset band | Annual rate |
|---|---|
| $0–$100K | 1.50% |
| $100K–$250K | 1.25% |
| $250K–$2M | 1.00% |
| $2M–$5M | 0.90% |
| $5M–$10M | 0.80% |
| $10M–$15M | 0.65% |
| $15M–$20M | 0.50% |
| $20M–$25M | 0.40% |
| $25M–$30M | 0.35% |
| $30M and above | 0.30% |
Fee details and sources
Other fees
- Financial planning
- Financial planning fees generally range from $500 to $25,000, negotiable, with a retainer of 50% of the quoted fee due at signing.
- Limited and ongoing consultations
- Limited consulting generally ranges from $500 to $25,000; ongoing consultation is charged quarterly at up to $2,500 per quarter; both are negotiable.
A & I Holdings, LLC owns 75% or more of A & I Financial Services and is in turn owned by Karl Frank (50–75%) and Stacey Frank (50–75%). The leadership team of A & I Financial Services includes Chief Compliance Officer Karl Frank. It has 9 employees.
Leadership
- Karl FrankManager and Chief Compliance Officer
- Stacey FrankManager
Investment adviser representatives
11 representatives listed in the SEC register as of 9 October 2026.
- Francois Giguere
Staff
- 9 employees
- 9 in advisory functions
- 9 state-registered reps
- 9 broker-dealer reps
- 8 insurance agents
- Owns 75% or more of A & I Financial Services, LLC
A & I Holdings, LLC
Control person · since January 2018
- Owns 50% to 75% of A & I Holdings, LLC
Karl Frank
Control person · since January 2018
- Owns 50% to 75% of A & I Holdings, LLC
Stacey Frank
Control person · since January 2018
- Owns 75% or more of A & I Financial Services, LLC
A &
Control person · since January 2018
A & I Financial Services’ regulatory assets grew from $422M (July 2021) to $560M (April 2026); clients fell from 581 to 518 and employees from 10 to 9.
Figures from each annual filing
| Filed | Regulatory AUM | Clients | Employees | Offices |
|---|---|---|---|---|
| April 2026 | $560M | 518 | 9 | 1 |
| February 2025 | $464M | 577 | 9 | 1 |
| March 2024 | $412M | 540 | 13 | 1 |
| July 2023 | $368M | 543 | 10 | 1 |
| July 2022 | $456M | 537 | 10 | 1 |
| July 2021 | $422M | 581 | 10 | 1 |
Besides its headquarters, A & I Financial Services has 0 offices, with 1 listed address in Colorado.
Colorado · 1 listed address
- 9605 Kingston Court, Suite 190, Lone TreeHQ
Contact and registration details
- Legal name
- A & I Financial Services, LLC
- Headquarters
- 9605 Kingston Court, Suite 190, Lone Tree, CO 80112
- Website
- assetsandincome.com
- Phone
- 303-690-5070
- @a&i-financial-services
- SEC file
- 801-69819
- Founded
- 2009
- Structure
- Colorado LLC
- Fiscal year end
- December
A & I Financial Services uses Axos Clearing ($492M) as custodian for its separately managed accounts. A & I Financial Services has custody of $10.3M in client assets for 8 clients.
- Axos ClearingAxos Clearing LLC · Centennial, CO · $492M100%
At year end, A & I Financial Services’ separately managed accounts were mostly in funds (57%) and stocks (37%). Its reported 13F holdings for the quarter ended 30 June 2026 total $230M across 75 positions; the largest are iShares TR (18.1%), Touchstone ETF Trust (15.7%) and 2023 ETF Series Trust (7.6%).
What the accounts hold
- Stocks37%
- Funds57%
- Cash3%
- Other3%
- Variable annuities and variable universal life3%
Reported 13F holdings
- $230M
- Reported 13F value
- 75
- Positions
- 70.4%
- In the 10 largest
- +8.8%
- Value vs. prior quarter
- iShares TR · MSCI Eafe ETF18.1%
- Touchstone ETF Trust · Sands Cap US ETF15.7%
- 2023 ETF Series Trust · Bran US Valu ETF7.6%
- Harris Oakmark ETF Trust · Oakmark U S Lrg7.3%
- Litman Gregory Fds TR · Imgp Dbi Man ETF4.7%
- Virtus ETF TR II · Alphasimplex Mng4.6%
- iShares TR · Core S&P Ttl Stk3.9%
- Capital Group Growth ETF · Shs Creat Unit2.9%
- Capital Group Core Equity ET · Shs Creat Unit2.8%
- Vanguard Tax-managed Fds · Van FTSE Dev Mkt2.6%
Together, the ten largest are 70.4% of reported value.
How many clients does A & I Financial Services have?
A & I Financial Services has 518 clients and manages $560 million for them, as of April 2026. They include 353 individual clients and 165 high-net-worth individuals.
Source: Form ADV Part 1A, Items 5.D and 5.F, filed 8 April 2026
What services does A & I Financial Services offer?
A & I Financial Services provides financial planning, portfolio management for individuals and small businesses, portfolio management for institutions, selecting other managers, business succession planning, insurance, and retirement plan services.
Source: Form ADV Part 1A, Item 5.G, from the SEC's 2 October 2026 data file; Part 2A brochure, Item 4
How much does A & I Financial Services charge?
A & I Financial Services charges 0.30%–1.50% a year for its Asset Management Services. The whole portfolio is charged at the rate of its band. The fee is billed in arrears and is negotiable.
Source: PART 2A, filed 16 October 2026
Which custodians does A & I Financial Services use?
A & I Financial Services’ separately managed account assets are held at Axos Clearing LLC (Centennial, CO), with $492M. Only custodians holding at least a tenth of those assets are named.
Source: Form ADV Part 1A, Schedule D, Section 5.K.(3), filed 8 April 2026
How many financial advisors does A & I Financial Services have?
A & I Financial Services has 9 investment adviser representatives registered with state securities authorities, out of 9 employees, and 9 perform investment advisory functions. 9 employees are registered representatives of a broker-dealer and 8 employees are licensed insurance agents.
Source: Form ADV Part 1A, Items 5.A and 5.B, from the SEC's 2 October 2026 data file
What does A & I Financial Services invest in?
At the end of its last fiscal year, A & I Financial Services’ separately managed accounts held 57% registered funds (mutual funds, ETFs, BDCs), 37% exchange-traded equities, 3% cash and equivalents and 3% other. The 3% other category is described as: Variable Annuities and Variable Universal Life.
Source: Form ADV Part 1A, Items 5.K.(1) and 7.B, from the SEC's 2 October 2026 data file
Who owns A & I Financial Services?
A & I Financial Services is owned through a holding company by Karl and Stacey Frank. Its direct owners are A & I Holdings, LLC (75% or more) and A & (75% or more).
Source: Form ADV Part 1A, Schedules A and B, filed 8 April 2026
How does A & I Financial Services get paid?
A & I Financial Services is paid through a percentage of assets under management and fixed fees. Its Form ADV lists no commissions or performance-based fees among how it is paid.
Source: Form ADV Part 1A, Item 5.E, from the SEC's 2 October 2026 data file
Is A & I Financial Services registered with the SEC?
Yes, A & I Financial Services has been registered with the SEC as an investment adviser since 5 January 2009. Its CRD number is 148357 and its SEC file number is 801-69819.
Source: Form ADV Part 1A, Item 1, filed 8 April 2026; IAPD firm record
How do I contact A & I Financial Services?
A & I Financial Services’ main office is at 9605 Kingston Court, Suite 190, Lone Tree, CO 80112. Its phone number is 303-690-5070. Its website is assetsandincome.com.