{"url":"https://nivawealth.com/firms/d-and-a-advisors-307227","iapdUrl":"https://adviserinfo.sec.gov/firm/summary/307227","regulatoryAum":127071586,"crd":"307227","adviserRoster":{"asOf":"2026-10-09","items":[{"crd":"7222426","suffix":null,"lastName":"CARTER","firstName":"DANIEL","middleName":"E"},{"crd":"7222427","suffix":null,"lastName":"OZUNA","firstName":"ANTHONY","middleName":"LUCAS"}],"total":2,"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":"801-135874","legalName":"D&a Advisors, LLC","displayName":"D&A Advisors","slug":"d-and-a-advisors-307227","website":"https://sierramgmt.group/","classification":{"segment":"individuals","segmentLabel":"Wealth management","type":"independent_wealth_manager","typeLabel":"RIA","feeDisclosure":"full"},"linkedinUrl":"https://www.linkedin.com/company/36152931/admin/","founded":null,"organization":"Nevada limited liability company","fiscalYearEnd":"December","headquarters":{"street":"5255 Longley Lane, Suite 101","city":"Reno","state":"NV","stateName":"Nevada","country":"United States","postalCode":"89511-5200"},"tradeNames":[],"registration":{"secApproved":"4 June 2026","noticeFilings":null,"latestNoticeFiling":null},"wealthAumPerClient":758912.5432098765,"staff":{"employees":2,"advisory":2,"brokerDealerReps":0,"insuranceAgents":0,"promoters":0},"aum":{"regulatory":127071586,"discretionary":127071586,"discretionaryAccounts":264,"nonDiscretionary":0,"nonDiscretionaryAccounts":0,"wrapProgram":null,"nonUsClientsPct":0,"nonAumClients":0},"clientTypes":[{"label":"Individuals (other than HNW)","clients":117,"regulatoryAum":31587311},{"label":"High-net-worth individuals","clients":45,"regulatoryAum":91356521},{"label":"Corporations and other businesses","clients":6,"regulatoryAum":4127754}],"feePrograms":[{"role":"main","program":"Portfolio Management Services","feeBasis":"range","fee_tiers":null,"sourceUrl":"https://files.adviserinfo.sec.gov/IAPD/Content/Common/crd_iapd_Brochure.aspx?BRCHR_VRSN_ID=1020327","versionId":1020327,"ratePeriod":"annual","fee_billing":"both","submittedOn":"2026-03-17","documentName":"SIERRA MANAGEMENT GROUP ADV BROCHURE","fee_rate_low":1,"fee_rate_high":1,"fee_negotiable":true,"minimum_account":null,"feeMinimumPeriod":null,"fee_minimum_annual":null},{"role":"other","program":"Financial Planning Services","summary":"Hourly fee of $200 to $350, negotiable; single-subject planning and consulting are billed at the same hourly rate.","sourceUrl":"https://files.adviserinfo.sec.gov/IAPD/Content/Common/crd_iapd_Brochure.aspx?BRCHR_VRSN_ID=1020327","versionId":1020327,"submittedOn":"2026-03-17","documentName":"SIERRA MANAGEMENT GROUP ADV BROCHURE"}],"brochureCoverage":{"scope":"sec_inventory","status":"reviewed","checkedAt":"2026-10-22T16:32:11.654239+00:00","documents":[{"name":"SIERRA MANAGEMENT GROUP ADV BROCHURE","status":"read","sourceUrl":"https://files.adviserinfo.sec.gov/IAPD/Content/Common/crd_iapd_Brochure.aspx?BRCHR_VRSN_ID=1020327","versionId":1020327,"submittedOn":"2026-03-17"}]},"custodians":[{"name":"LPL Financial LLC","shortName":"LPL Financial","location":"Fort Mill, SC","smaAssets":127071586}],"custodyNote":"D&A Advisors has custody of client assets.","otherCustodians":[],"leadership":[{"name":"Daniel Carter","title":"Co-CEO/Member/Chief Compliance Officer","crd":"7222426"},{"name":"Anthony Ozuna","title":"Co-CEO/Member","crd":"7222427"}],"ownership":[{"label":"D&a Holding, LLC","detail":"Co-ceo/member in the 75% or more ownership band and a control person, since January 2020."},{"label":"Anthony Ozuna","detail":"Co-ceo/member in the 50% to 75% ownership band and a control person, since January 2020. Also a co-ceo/member of D&a Holding, LLC in the 50% to 75% band and a control person, since January 2020."},{"label":"Daniel Carter","detail":"Indirect owner: a co-ceo/member/chief compliance officer of D&a Holding, LLC in the 50% to 75% band and a control person, since January 2020.","parent":"D&a Holding, LLC"}],"branchOffices":null,"filedOffices":{"otherThanPrincipal":0,"privateResidences":0},"listedOfficeAddresses":1,"foreignOffices":[],"officesByState":[{"state":"Nevada","offices":1,"addresses":[{"street":"5255 Longley Lane, Suite 101","city":"Reno","headquarters":true}]}],"advFacts":{"source":{"file":"ia100226.zip","asOf":"2 October 2026"},"telephone":"775-284-2552","stateRegisteredReps":2,"otherAdviserReps":0,"compensation":["A percentage of assets under management","Hourly charges"],"activities":["Financial planning services","Portfolio management for individuals and/or small businesses"],"financialPlanningClients":"0","assetMix":[{"label":"Exchange-traded equity securities","percent":87},{"label":"U.S. government/agency bonds","percent":2},{"label":"Securities issued by registered investment companies or business development companies","percent":5},{"label":"Cash and cash equivalents","percent":4},{"label":"Other","percent":2,"detail":"Certificates of Deposit"}],"privateFunds":2},"sources":{"adv1FilingDate":"3 June 2026","adv1Url":"https://reports.adviserinfo.sec.gov/reports/ADV/307227/PDF/307227.pdf","brochureDate":"17 March 2026","brochureUrl":"https://files.adviserinfo.sec.gov/IAPD/Content/Common/crd_iapd_Brochure.aspx?BRCHR_VRSN_ID=1020327","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 D&A Advisors have?","answer":"D&A Advisors has 168 clients and manages $127 million for them, as of June 2026. They include 117 individual clients, 45 high-net-worth individuals, and 6 corporations and other businesses.","source":"Form ADV Part 1A, Items 5.D and 5.F, filed 3 June 2026","sourceRef":{"doc":"adv1","section":"employees"}},{"question":"What services does D&A Advisors offer?","answer":"D&A Advisors provides financial planning and portfolio management for individuals and small businesses.","source":"Form ADV Part 1A, Item 5.G, from the SEC's 2 October 2026 data file","sourceRef":{"doc":"adv1","section":"employees"}},{"question":"How much does D&A Advisors charge?","answer":"D&A Advisors charges 1.00% a year for its Portfolio Management Services. The fee is billed in advance or in arrears and is negotiable.","source":"SIERRA MANAGEMENT GROUP ADV BROCHURE, filed 17 March 2026","sourceRef":{"doc":"brochure","section":"fees"}},{"question":"Which custodians does D&A Advisors use?","answer":"D&A Advisors’ separately managed account assets are held at LPL Financial LLC (Fort Mill, SC), with $127M. Only custodians holding at least a tenth of those assets are named.","source":"Form ADV Part 1A, Schedule D, Section 5.K.(3), filed 3 June 2026","sourceRef":{"doc":"adv1","section":"custodians"}},{"question":"How many financial advisors does D&A Advisors have?","answer":"D&A Advisors has 2 investment adviser representatives registered with state securities authorities, out of 2 employees, and 2 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","sourceRef":{"doc":"adv1","section":"employees"}},{"question":"What does D&A Advisors invest in?","answer":"At the end of its last fiscal year, D&A Advisors’ separately managed accounts held 87% exchange-traded equities, 5% registered funds (mutual funds, ETFs, BDCs), 4% cash and equivalents, 2% U.S. government and agency bonds and 2% other. The 2% other category is described as: Certificates of Deposit. It advises 2 private funds.","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 D&A Advisors?","answer":"D&A Advisors is owned through a holding company by Daniel Carter. Its direct owners are D&a Holding, LLC (75% or more) and Anthony Ozuna (50% to 75%).","source":"Form ADV Part 1A, Schedules A and B, filed 3 June 2026","sourceRef":{"doc":"adv1","section":"scheduleA"}},{"question":"How does D&A Advisors get paid?","answer":"D&A Advisors is paid through a percentage of assets under management and hourly charges. 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 D&A Advisors?","answer":"D&A Advisors’ main office is at 5255 Longley Lane, Suite 101, Reno, NV 89511-5200. Its phone number is 775-284-2552. Its website is sierramgmt.group.","source":"Form ADV Part 1A, Item 1.F, filed 3 June 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."}