Bonner & Smith provides financial planning, portfolio management for individuals and small businesses, and tax preparation. Financial planning was provided to 251–500 clients last fiscal year.
Bonner & Smith reports 300 clients. They include 189 individual clients and 111 high-net-worth individuals. Of its assets, 100.0% ($315M across 1,044 accounts) are managed with discretion.
| Client type | Clients | Assets |
|---|---|---|
| Individuals (other than HNW) | 63% | 18% |
| High-net-worth individuals | 37% | 82% |
Client breakdown and activity details
| Client type | Clients | Regulatory AUM | AUM share | Avg. per client |
|---|---|---|---|---|
| Individuals (other than HNW) | 189 | $58M | 18.4% | $307K |
| High-net-worth individuals | 111 | $257M | 81.6% | $2.31M |
| Total | 300 | $315M | 100% | $1.05M |
- Clients
- 189
- Regulatory AUM
- $58M
- AUM share
- 18.4%
- Avg. per client
- $307K
- Clients
- 111
- Regulatory AUM
- $257M
- AUM share
- 81.6%
- Avg. per client
- $2.31M
Total
- Clients
- 300
- Regulatory AUM
- $315M
- AUM share
- 100%
- Avg. per client
- $1.05M
- Clients outside the U.S.
- 0%
- Clients advised without assets under management last fiscal year
- 0
- Private funds advised
- 0
- Financial planning clients last fiscal year
- 251–500
Bonner & Smith charges 0.40%–1.50% a year for its Management Fees for assets under management. Each asset band is charged at its own rate. The fee is billed in advance, is not negotiable and requires an account of at least $1,000,000. The brochure also prices one other service, listed under fee details.
| Asset band | Annual rate |
|---|---|
| $0–$250K | 1.50% |
| $250K–$500K | 1.10% |
| $500K–$1.5M | 0.80% |
| $1.5M–$3M | 0.70% |
| $3M–$5M | 0.60% |
| $5M–$10M | 0.50% |
| $10M and above | 0.40% |
Fee details and sources
Other fees
- Income Only Portfolio
- Income Only Portfolios are charged annually at .75% on the first $500,000, .60% on the next $1,500,000 and .50% above $2,000,000.
Raymond Bonner owns 50% to 75% of Bonner & Smith. The leadership team of Bonner & Smith includes Chief Compliance Officer Susan Smith. It has 3 employees.
Leadership
- Susan SmithManaging Member and Chief Compliance Officer
- Raymond BonnerManaging Member
Investment adviser representatives
3 representatives listed in the SEC register as of 9 October 2026.
- Raymond Keith Bonner
- Rusti Dawn Pitts
- Susan Denise Smith
Staff
- 3 employees
- 3 in advisory functions
- 3 state-registered reps
- Owns 50% to 75% of Bonner & Smith, LLC
Raymond Bonner
Control person · since January 2007
- Owns 50% to 75% of Bonner & Smith, LLC
Susan Smith
Control person · since January 2007
Bonner & Smith’s regulatory assets grew 1.6× from $203M (March 2021) to $315M (March 2026); clients rose from 238 to 300 and employees from 2 to 3.
Figures from each annual filing
| Filed | Regulatory AUM | Clients | Employees | Offices |
|---|---|---|---|---|
| March 2026 | $315M | 300 | 3 | 1 |
| February 2025 | $262M | 280 | 3 | 1 |
| January 2024 | $230M | 268 | 3 | 1 |
| March 2023 | $208M | 256 | 3 | 1 |
| March 2022 | $229M | 251 | 2 | 1 |
| March 2021 | $203M | 238 | 2 | 1 |
Besides its headquarters, Bonner & Smith has 0 offices, with 1 listed address in Texas.
Texas · 1 listed address
- 5308 114th St, LubbockHQ
Contact and registration details
- Legal name
- Bonner & Smith, LLC
- Headquarters
- 5308 114th St, Lubbock, TX 79424
- Website
- bonner-smith.com
- Phone
- 806-798-1880
- SEC file
- 801-81163
- Founded
- 1996
- Structure
- Texas LLC
- Fiscal year end
- December
Bonner & Smith uses Fidelity ($310M) as custodian for its separately managed accounts. Bonner & Smith does not have custody of client assets.
- FidelityFidelity Brokerage Services LLC · Wilmington, DE · $310M100%
At year end, Bonner & Smith’s separately managed accounts were mostly in funds (98%).
What the accounts hold
- Stocks1%
- Funds98%
- Cash1%
How many clients does Bonner & Smith have?
Bonner & Smith has 300 clients and manages $315 million for them, as of March 2026. They include 189 individual clients and 111 high-net-worth individuals.
Source: Form ADV Part 1A, Items 5.D and 5.F, filed 5 March 2026
What services does Bonner & Smith offer?
Bonner & Smith provides financial planning, portfolio management for individuals and small businesses, and tax preparation.
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 Bonner & Smith charge?
Bonner & Smith charges 0.40%–1.50% a year for its Management Fees for assets under management. Each asset band is charged at its own rate. The fee is billed in advance, is not negotiable and requires an account of at least $1,000,000.
Source: ADV PART2A, filed 5 March 2026
Which custodians does Bonner & Smith use?
Bonner & Smith’s separately managed account assets are held at Fidelity Brokerage Services LLC (Wilmington, DE), with $310M. Only custodians holding at least a tenth of those assets are named.
Source: Form ADV Part 1A, Schedule D, Section 5.K.(3), filed 5 March 2026
How many financial advisors does Bonner & Smith have?
Bonner & Smith has 3 investment adviser representatives registered with state securities authorities, out of 3 employees, and 3 perform investment advisory functions. None are registered representatives of a broker-dealer or 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 Bonner & Smith invest in?
At the end of its last fiscal year, Bonner & Smith’s separately managed accounts held 98% registered funds (mutual funds, ETFs, BDCs), 1% exchange-traded equities and 1% cash and equivalents.
Source: Form ADV Part 1A, Items 5.K.(1) and 7.B, from the SEC's 2 October 2026 data file
Does Bonner & Smith have a minimum investment?
Yes, Bonner & Smith’s minimum account size for its Management Fees for assets under management is $1M.
Source: ADV PART2A, filed 5 March 2026
Who owns Bonner & Smith?
Bonner & Smith’s direct owners are Raymond Bonner (50% to 75%) and Susan Smith (50% to 75%).
Source: Form ADV Part 1A, Schedules A and B, filed 5 March 2026
How does Bonner & Smith get paid?
Bonner & Smith is paid through a percentage of assets under management. 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
How do I contact Bonner & Smith?
Bonner & Smith’s main office is at 5308 114th St, Lubbock, TX 79424. Its phone number is 806-798-1880. Its website is bonner-smith.com.