Services and clients
D.A. Davidson & Co. provides financial planning, portfolio management for individuals and small businesses, portfolio management for institutions, pension consulting, selecting other managers, publishing newsletters, and educational seminars.
Financial planning was provided to 7,000 clients last fiscal year.
Clients
D.A. Davidson & Co. reports 70,118 clients. They include 49,912 other individual clients, 18,223 high-net-worth individuals and 1,098 charitable organizations.
AUM per wealth client averages the assets reported for individuals and high-net-worth individuals over their reported client counts. It excludes institutional clients.
- Individuals (other than HNW)49,912 clients$14.02B in assets
- High-net-worth individuals18,223 clients$23.60B in assets
- Pension and profit-sharing plans240 clients$546.8M in assets
- Charitable organizations1,098 clients$1.83B in assets
- State or municipal government entities29 clients$390.2M in assets
- Other client types616 clients$1.46B in assetsCorporations and other businesses
Show client breakdownHide client breakdown
| Client type | Clients | Regulatory AUM | AUM share | Avg. per client |
|---|---|---|---|---|
| Individuals (other than HNW) | 49,912 | $14,015,605,013 | 33.5% | $281K |
| High-net-worth individuals | 18,223 | $23,597,665,968 | 56.4% | $1.29M |
| Pension and profit-sharing plans | 240 | $546,783,883 | 1.3% | $2.28M |
| Charitable organizations | 1,098 | $1,828,763,075 | 4.4% | $1.67M |
| State or municipal government entities | 29 | $390,228,649 | 0.9% | $13.5M |
| Corporations and other businesses | 616 | $1,460,199,111 | 3.5% | $2.37M |
| Total | 70,118 | $41,839,245,699 | 100% | $597K |
- Clients
- 49,912
- Regulatory AUM
- $14,015,605,013
- AUM share
- 33.5%
- Avg. per client
- $281K
- Clients
- 18,223
- Regulatory AUM
- $23,597,665,968
- AUM share
- 56.4%
- Avg. per client
- $1.29M
- Clients
- 240
- Regulatory AUM
- $546,783,883
- AUM share
- 1.3%
- Avg. per client
- $2.28M
- Clients
- 1,098
- Regulatory AUM
- $1,828,763,075
- AUM share
- 4.4%
- Avg. per client
- $1.67M
- Clients
- 29
- Regulatory AUM
- $390,228,649
- AUM share
- 0.9%
- Avg. per client
- $13.5M
- Clients
- 616
- Regulatory AUM
- $1,460,199,111
- AUM share
- 3.5%
- Avg. per client
- $2.37M
Total
- Clients
- 70,118
- Regulatory AUM
- $41,839,245,699
- AUM share
- 100%
- Avg. per client
- $597K
91.5% of assets ($38.30B across 88,458 accounts) are managed with discretion; $3.54B across 3,688 accounts are not. $41.84B sits in a wrap fee program the firm both sponsors and manages. 1,050 clients received advice without assets under management last fiscal year.
Additional activity details
- Clients outside the U.S.
- 0%
- Clients advised without assets under management last fiscal year
- 1,050
- Private funds advised
- 0
- Financial planning clients last fiscal year
- 7000
Fees and minimums
D.A. Davidson & Co. is paid through a percentage of assets under management, hourly charges and fixed fees (other than subscription fees).
Rates and terms vary by program. See the SEC brochures and fee pages for each schedule.
- D.A. DAVIDSON FIRM BROCHURE - EQUITY RESEARCH SERVICES
- Submitted 19 December 2025
- D.A. DAVIDSON & CO. WRAP FEE PROGRAM BROCHURE
- Submitted 30 July 2026
- D.A. DAVIDSON FIRM BROCHURE
- Submitted 30 July 2026
D.A. Davidson Equity Research Services
Equity research is a separate advisory service with a negotiated research fee. The brochure says fees vary with the service and client; transaction or corporate-access compensation may be additional.
D.A. Davidson Wrap Fee Programs
The wrap brochure lists multiple named programs with different advisor, manager and platform fee combinations. The fee is generally billed quarterly in advance, while some exception agreements may use monthly or arrears billing; other account expenses and program minimums can apply.
D.A. Davidson Firm Brochure Fee Services
The firm brochure covers negotiated retirement-plan fees, financial planning fees, and Davidson Private Wealth Services. The disclosed arrangements include percentage or flat plan fees, planning fees that vary with service complexity, and private-wealth services available at no additional cost to qualifying clients.
Fee details and sources
D.A. DAVIDSON & CO. WRAP FEE PROGRAM BROCHURE, submitted 30 July 2026.
Brochure and fee pagesD.A. DAVIDSON FIRM BROCHURE - EQUITY RESEARCH SERVICES, submitted 19 December 2025.
Brochure and fee pagesOwnership and people
D.A. Davidson Companies owns 75% or more of D.A. Davidson & Co..
- Owns 75% or more of D.A. Davidson & Co.
D.A. Davidson Companies
Control person · since May 1986
- Owns 25% to 50% of D.A. Davidson Companies
Employee Stock Ownership Plan and Trust
since September 2001
- Owns 25% to 50% of Employee Stock Ownership Plan and Trust
D.A. Davidson Trust Company
since September 2001
Staff
- 990 employees
- 410 in advisory functions
- 650 state-registered reps
- 710 broker-dealer reps
- 350 insurance agents
- 3 soliciting firms
Investments and reported holdings
What the accounts hold
- Stocks35%
- Funds57%
- Bonds6%
- U.S. government and agency bonds2%
- State and local bonds2%
- Investment grade corporate bonds1%
- High-yield corporate bonds1%
- Cash2%
Custodians
D.A. Davidson & Co.’s named custodians for separately managed accounts include D.A. Davidson & Co. ($23,984,210,569), and D.A. Davidson Trust Services ($17,303,152,250). D.A. Davidson & Co. has custody of $41.57B for 70,269 clients.
- D.A. Davidson & Co.Great Falls, MT
- $23,984,210,569
- D.A. Davidson Trust Services, Inc.Great Falls, MT
- $17,303,152,250
Offices and registration details
Besides its headquarters, D.A. Davidson & Co. has 100 offices, with 26 listed addresses across 8 states.
Montana · 6 listed addresses
- 8 Third Street North, Great FallsHQ
- 176 Timberwolf Pkwy, Kalispell
- 283 W. Front ST., Missoula
- Hart Albin Building, Billings
- 40 W. 14th ST., Helena
- 1101 E Main ST, Suite 301, Bozeman
Washington · 5 listed addresses
- Columbia Center, 701 5th Avenue, Seattle
- 601 W. Main Ave, Spokane
- 10400 Ne 4th ST., Bellevue
- 151 South Worthen Street, Wenatchee
- 701 5th Avenue, Seattle
California · 4 listed addresses
- Opus Plaza 1, Carlsbad
- 301 N. Lake, Pasadena
- 697 E. Foothill Boulevard, Suite D, Claremont
- 2901 Douglas BLVD., Roseville
Oregon · 4 listed addresses
- 360 SW Bond Street, Bend
- 3210 Hillcrest Park Drive, Medford
- Two Centerpointe Drive, Lake Oswego
- 1495 NW Garden Valley, Roseburg
Idaho · 3 listed addresses
- 101 S. Capitol BLVD., Boise
- 608 Northwest Boulevard, Coeur D' Alene
- 805 Pine Street, Sandpoint
Nebraska · 2 listed addresses
- 450 Regency Parkway, Omaha
- 115 Canopy Street, Lincoln
Colorado · 1 listed address
- 121 S Tejon ST, Suite 1109, Colorado Springs
Utah · 1 listed address
- 95 S State ST, Salt Lake City
Registration details
- Legal name
- D.A. Davidson & Co.
- Headquarters
- 8 Third Street North, Great Falls, MT 59401
- @d-a--davidson-&-co-
- SEC file
- 801-45761
- Structure
- Montana corporation
- Fiscal year end
- September
- State notice filings
- 51 jurisdictions, most recently 21 December 2021
Notice filing jurisdictions
- Alabama
- Notice Filed · 14 December 2004
- Alaska
- Notice Filed · 5 July 2002
- Arizona
- Notice Filed · 1 July 2002
- Arkansas
- Notice Filed · 10 June 2005
- California
- Notice Filed · 1 July 2002
- Colorado
- Notice Filed · 19 December 2002
- Connecticut
- Notice Filed · 19 December 2002
- Delaware
- Notice Filed · 14 June 2005
- District of Columbia
- Notice Filed · 2 July 2002
- Florida
- Notice Filed · 2 July 2002
- Georgia
- Notice Filed · 1 July 2002
- Hawaii
- Notice Filed · 6 August 2004
- Idaho
- Notice Filed · 13 September 1994
- Illinois
- Notice Filed · 8 July 2002
- Indiana
- Notice Filed · 1 July 2002
- Iowa
- Notice Filed · 16 August 2004
- Kansas
- Notice Filed · 1 July 2002
- Kentucky
- Notice Filed · 20 December 2007
- Louisiana
- Notice Filed · 8 June 2005
- Maine
- Notice Filed · 8 June 2005
- Maryland
- Notice Filed · 1 July 2002
- Massachusetts
- Notice Filed · 16 April 2004
- Michigan
- Notice Filed · 17 December 2003
- Minnesota
- Notice Filed · 11 July 2002
- Mississippi
- Notice Filed · 8 June 2005
- Missouri
- Notice Filed · 19 December 2002
- Montana
- Notice Filed · 19 December 1997
- Nebraska
- Notice Filed · 6 August 2004
- Nevada
- Notice Filed · 1 July 2002
- New Hampshire
- Notice Filed · 14 December 2004
- New Jersey
- Notice Filed · 1 July 2002
- New Mexico
- Notice Filed · 1 July 2002
- New York
- Notice Filed · 19 December 2002
- North Carolina
- Notice Filed · 1 July 2002
- North Dakota
- Notice Filed · 1 July 2002
- Ohio
- Notice Filed · 1 July 2002
- Oklahoma
- Notice Filed · 8 June 2005
- Oregon
- Notice Filed · 21 December 2001
- Pennsylvania
- Notice Filed · 19 December 2002
- Rhode Island
- Notice Filed · 21 December 2021
- South Carolina
- Notice Filed · 8 June 2005
- South Dakota
- Notice Filed · 2 July 2002
- Tennessee
- Notice Filed · 15 December 2004
- Texas
- Notice Filed · 1 July 2002
- Utah
- Notice Filed · 19 September 1997
- Vermont
- Notice Filed · 8 June 2005
- Virginia
- Notice Filed · 1 July 2002
- Washington
- Notice Filed · 1 December 1994
- West Virginia
- Notice Filed · 20 December 2013
- Wisconsin
- Notice Filed · 6 August 2004
- Wyoming
- Notice Filed · 21 December 2017
This directory does not report disciplinary history, for any firm or individual, in either direction. The SEC publishes the complete record, including any disciplinary events, and it is the authoritative place to check one. See this firm's record on adviserinfo.sec.gov
Common questions
How many clients does D.A. Davidson & Co. have?
D.A. Davidson & Co. has 70,118 clients and manages $41.8 billion for them, as of July 2026. They include 49,912 other individual clients, 18,223 high-net-worth individuals and 1,098 charitable organizations.
Source: Form ADV Part 1A, Items 5.D and 5.F, filed 30 July 2026
What services does D.A. Davidson & Co. offer?
D.A. Davidson & Co. provides financial planning, portfolio management for individuals and small businesses, portfolio management for institutions, pension consulting, selecting other managers, publishing newsletters, and educational seminars.
Source: Form ADV Part 1A, Item 5.G, from the SEC's 2 October 2026 data file
Which custodians does D.A. Davidson & Co. use?
D.A. Davidson & Co.’s separately managed account assets are held at D.A. Davidson & Co. (Great Falls, MT), with $23,984,210,569 and D.A. Davidson Trust Services, Inc. (Great Falls, MT), with $17,303,152,250. Only custodians holding at least a tenth of those assets are named.
Source: Form ADV Part 1A, Schedule D, Section 5.K.(3), filed 30 July 2026
How many financial advisors does D.A. Davidson & Co. have?
D.A. Davidson & Co. has 650 investment adviser representatives registered with state securities authorities, out of 990 employees, and 410 perform investment advisory functions. 710 employees are registered representatives of a broker-dealer and 350 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 D.A. Davidson & Co. invest in?
At the end of its last fiscal year, D.A. Davidson & Co.’s separately managed accounts held 57% registered funds (mutual funds, ETFs, BDCs), 35% exchange-traded equities, 2% U.S. government and agency bonds, 2% state and local bonds, 2% cash and equivalents, 1% investment grade corporate bonds and 1% high-yield corporate bonds.
Source: Form ADV Part 1A, Items 5.K.(1) and 7.B, from the SEC's 2 October 2026 data file
Who owns D.A. Davidson & Co.?
D.A. Davidson & Co. is owned through a chain of holding companies by D.A. Davidson Trust Company. Its direct owner is D.A. Davidson Companies (75% or more).
Source: Form ADV Part 1A, Schedules A and B, filed 30 July 2026
How does D.A. Davidson & Co. get paid?
D.A. Davidson & Co. is paid through a percentage of assets under management, hourly charges 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