{"url":"https://nivawealth.com/firms/classic-financial-and-insurance-services-120228","iapdUrl":"https://adviserinfo.sec.gov/firm/summary/120228","regulatoryAum":151645327,"crd":"120228","adviserRoster":{"asOf":"2026-10-09","items":[{"crd":"1426442","suffix":"JR","lastName":"RUSSO","firstName":"CHARLES","middleName":"MICHAEL"}],"total":1,"loadedAt":"2026-10-10T00:20:19.761928+00:00","sourceUrl":"https://reports.adviserinfo.sec.gov/reports/CompilationReports/IA_INDVL_Feed_10_09_2026.xml.zip"},"secFileNumber":"801-135641","legalName":"Classic Financial & Insurance Services, Inc.","displayName":"Classic Financial & Insurance Services","slug":"classic-financial-and-insurance-services-120228","website":"https://classicfinancial.net/","classification":{"segment":"individuals","segmentLabel":"Wealth management","type":"independent_wealth_manager","typeLabel":"RIA","feeDisclosure":"full"},"linkedinUrl":"https://ch.linkedin.com/company/classic-financial-&-insurance-services-inc-","founded":null,"organization":"California corporation","fiscalYearEnd":"December","headquarters":{"street":"2535 Townsgate Road, Suite 310","city":"Westlake Village","state":"CA","stateName":"California","country":"United States","postalCode":"91361"},"tradeNames":["Classic Financial"],"registration":{"secApproved":"23 March 2026","noticeFilings":null,"latestNoticeFiling":null},"wealthAumPerClient":697738.3266331658,"staff":{"employees":4,"advisory":1,"brokerDealerReps":0,"insuranceAgents":4,"promoters":0},"aum":{"regulatory":151645327,"discretionary":71727427,"discretionaryAccounts":89,"nonDiscretionary":79917900,"nonDiscretionaryAccounts":126,"wrapProgram":null,"nonUsClientsPct":0,"nonAumClients":0},"clientTypes":[{"label":"Individuals (other than HNW)","clients":156,"regulatoryAum":24989201},{"label":"High-net-worth individuals","clients":43,"regulatoryAum":113860726},{"label":"Pension and profit-sharing plans","clients":15,"regulatoryAum":12730130},{"label":"Charitable organizations","clients":1,"regulatoryAum":65270}],"feePrograms":[],"brochureCoverage":{"scope":"sec_inventory","status":"reviewed_no_numerical_schedule","checkedAt":"2026-10-22T12:33:03.366017+00:00","documents":[{"name":"ADV PART 2A & 2B","status":"read","sourceUrl":"https://files.adviserinfo.sec.gov/IAPD/Content/Common/crd_iapd_Brochure.aspx?BRCHR_VRSN_ID=1052827","versionId":1052827,"submittedOn":"2026-07-24"}]},"custodians":[{"name":"SEI Investments Distribution Co.","shortName":"SEI Investments Distribution","location":"Oaks, PA","smaAssets":151645327}],"custodyNote":"Classic Financial & Insurance Services does not have custody of client assets.","otherCustodians":[],"leadership":[{"name":"Charles Russo","title":"President & Chief Compliance Officer","crd":"1426442"},{"name":"Ellen Horn","title":"Secretary","crd":"2317573"}],"ownership":[{"label":"Charles Russo","detail":"President & chief compliance officer in the 75% or more ownership band and a control person, since January 2000."},{"label":"Ellen Horn","detail":"Secretary in the 10% to 25% ownership band, since January 2024."}],"branchOffices":null,"filedOffices":{"otherThanPrincipal":0,"privateResidences":0},"listedOfficeAddresses":1,"foreignOffices":[],"officesByState":[{"state":"California","offices":1,"addresses":[{"street":"2535 Townsgate Road, Suite 310","city":"Westlake Village","headquarters":true}]}],"advFacts":{"source":{"file":"ia100226.zip","asOf":"2 October 2026"},"telephone":"805-230-2430","stateRegisteredReps":1,"otherAdviserReps":0,"compensation":["A percentage of assets under management","Other"],"activities":["Financial planning services","Portfolio management for individuals and/or small businesses","Portfolio management for businesses (other than small businesses) or institutional clients","Pension consulting services","Selection of other advisers (including private fund managers)"],"financialPlanningClients":"0","assetMix":[{"label":"Exchange-traded equity securities","percent":90},{"label":"Cash and cash equivalents","percent":7},{"label":"Other","percent":3,"detail":"Corporate Secured Fixed Rate Bonds"}],"privateFunds":0},"sources":{"adv1FilingDate":"24 July 2026","adv1Url":"https://reports.adviserinfo.sec.gov/reports/ADV/120228/PDF/120228.pdf","brochureDate":"24 July 2026","brochureUrl":"https://files.adviserinfo.sec.gov/IAPD/Content/Common/crd_iapd_Brochure.aspx?BRCHR_VRSN_ID=1052827","iapdCompiledDate":null,"retrievedDate":"15 October 2026","retrievedOn":"2026-10-15","updatedOn":"2026-10-22","holdingsUpdatedOn":"2026-10-21","adv1Pages":{},"brochurePages":{}},"otherBusiness":[],"faq":[{"question":"How many clients does Classic Financial & Insurance Services have?","answer":"Classic Financial & Insurance Services has 215 clients and manages $152 million for them, as of July 2026. They include 156 individual clients, 43 high-net-worth individuals, and 15 pension and profit-sharing plans.","source":"Form ADV Part 1A, Items 5.D and 5.F, filed 24 July 2026","sourceRef":{"doc":"adv1","section":"employees"}},{"question":"What services does Classic Financial & Insurance Services offer?","answer":"Classic Financial & Insurance Services provides financial planning, portfolio management for individuals and small businesses, portfolio management for institutions, pension consulting, and selecting other managers.","source":"Form ADV Part 1A, Item 5.G, from the SEC's 2 October 2026 data file","sourceRef":{"doc":"adv1","section":"employees"}},{"question":"Which custodians does Classic Financial & Insurance Services use?","answer":"Classic Financial & Insurance Services’ separately managed account assets are held at SEI Investments Distribution Co. (Oaks, PA), with $152M. Only custodians holding at least a tenth of those assets are named.","source":"Form ADV Part 1A, Schedule D, Section 5.K.(3), filed 24 July 2026","sourceRef":{"doc":"adv1","section":"custodians"}},{"question":"How many financial advisors does Classic Financial & Insurance Services have?","answer":"Classic Financial & Insurance Services has 1 investment adviser representative registered with state securities authorities, out of 4 employees, and 1 perform investment advisory functions. 0 employees are registered representatives of a broker-dealer and 4 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","sourceRef":{"doc":"adv1","section":"employees"}},{"question":"What does Classic Financial & Insurance Services invest in?","answer":"At the end of its last fiscal year, Classic Financial & Insurance Services’ separately managed accounts held 90% exchange-traded equities, 7% cash and equivalents and 3% other. The 3% other category is described as: Corporate Secured Fixed Rate Bonds.","source":"Form ADV Part 1A, Items 5.K.(1) and 7.B, from the SEC's 2 October 2026 data file","sourceRef":{"doc":"adv1","section":"employees"}},{"question":"Who owns Classic Financial & Insurance Services?","answer":"Classic Financial & Insurance Services’ direct owners are Charles Russo (75% or more) and Ellen Horn (10% to 25%).","source":"Form ADV Part 1A, Schedules A and B, filed 24 July 2026","sourceRef":{"doc":"adv1","section":"scheduleA"}},{"question":"How does Classic Financial & Insurance Services get paid?","answer":"Classic Financial & Insurance Services is paid through a percentage of assets under management and other compensation. 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","sourceRef":{"doc":"adv1","section":"employees"}},{"question":"How do I contact Classic Financial & Insurance Services?","answer":"Classic Financial & Insurance Services’ main office is at 2535 Townsgate Road, Suite 310, Westlake Village, CA 91361. Its phone number is 805-230-2430. Its website is classicfinancial.net.","source":"Form ADV Part 1A, Item 1.F, filed 24 July 2026","sourceRef":{"doc":"adv1","section":"offices"}}],"holdings":null,"notice":"Compiled from public SEC Form ADV filings on the dates in `sources`. Facts as filed; not a rating, ranking, or recommendation. Niva is not affiliated with this firm. Disciplinary history is deliberately not included here or on the page; the SEC publishes the complete record at the `iapdUrl` above."}