{"url":"https://nivawealth.com/firms/dbs-investment-advisers-123283","iapdUrl":"https://adviserinfo.sec.gov/firm/summary/123283","regulatoryAum":280177315,"crd":"123283","adviserRoster":{"asOf":"2026-10-09","items":[{"crd":"5706583","suffix":null,"lastName":"ADAMS","firstName":"MARK","middleName":"Peter"},{"crd":"6455484","suffix":null,"lastName":"BRINK","firstName":"JEFFREY","middleName":"JOHN"},{"crd":"6272840","suffix":null,"lastName":"DUPERON","firstName":"REGAN","middleName":"LYN"},{"crd":"5103648","suffix":"II","lastName":"SCHUMANN","firstName":"THEODORE","middleName":"CHRISTOPHER"},{"crd":"2932975","suffix":null,"lastName":"SHAW","firstName":"NINA","middleName":null}],"total":5,"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"},"history":[{"filedOn":"2021-06-09","regulatoryAum":172101686,"clients":317,"employees":8,"offices":2},{"filedOn":"2022-03-30","regulatoryAum":177385576,"clients":385,"employees":8,"offices":2},{"filedOn":"2023-03-13","regulatoryAum":164969120,"clients":384,"employees":7,"offices":2},{"filedOn":"2024-07-24","regulatoryAum":228665188,"clients":612,"employees":6,"offices":2},{"filedOn":"2025-06-10","regulatoryAum":244511904,"clients":592,"employees":7,"offices":3},{"filedOn":"2026-02-02","regulatoryAum":280177315,"clients":591,"employees":8,"offices":4}],"secFileNumber":"801-116815","legalName":"DBS Investment Advisers, LLC","displayName":"DBS Investment Advisers","slug":"dbs-investment-advisers-123283","website":"https://thedbscompanies.com/","classification":{"segment":"individuals","segmentLabel":"Wealth management","type":"independent_wealth_manager","typeLabel":"RIA","feeDisclosure":"full"},"founded":null,"organization":"Michigan limited liability company","fiscalYearEnd":"December","headquarters":{"street":"1484 Straits Drive, Suite 6","city":"Bay City","state":"MI","stateName":"Michigan","country":"United States","postalCode":"48706"},"tradeNames":["Act Two Financial Advisors"],"registration":{"secApproved":"21 June 2019","noticeFilings":null,"latestNoticeFiling":null},"wealthAumPerClient":299798.2275334608,"staff":{"employees":8,"advisory":5,"brokerDealerReps":0,"insuranceAgents":0,"promoters":0},"aum":{"regulatory":280177315,"discretionary":280177315,"discretionaryAccounts":973,"nonDiscretionary":0,"nonDiscretionaryAccounts":0,"wrapProgram":null,"nonUsClientsPct":0,"nonAumClients":0},"clientTypes":[{"label":"Individuals (other than HNW)","clients":488,"regulatoryAum":50180859},{"label":"High-net-worth individuals","clients":35,"regulatoryAum":106613614},{"label":"Pension and profit-sharing plans","clients":68,"regulatoryAum":123247177},{"label":"Corporations and other businesses","clients":null,"fewerThan5":true,"regulatoryAum":135665}],"feePrograms":[{"role":"main","program":"Portfolio Management Service Fees","feeBasis":"range","fee_tiers":null,"sourceUrl":"https://files.adviserinfo.sec.gov/IAPD/Content/Common/crd_iapd_Brochure.aspx?BRCHR_VRSN_ID=1005608","versionId":1005608,"ratePeriod":"annual","fee_billing":"advance","submittedOn":"2026-02-02","documentName":"DBS INVESTMENT ADVISERS, LLC ADV BROCHURE","fee_rate_low":0.5,"fee_rate_high":1.25,"fee_negotiable":true,"minimum_account":null,"feeMinimumPeriod":null,"fee_minimum_annual":null},{"role":"other","program":"Financial planning","summary":"Financial planning is charged a fixed fee, generally $395 to $5,000 depending on scope, negotiable with complexity.","sourceUrl":"https://files.adviserinfo.sec.gov/IAPD/Content/Common/crd_iapd_Brochure.aspx?BRCHR_VRSN_ID=1005608","versionId":1005608,"submittedOn":"2026-02-02","documentName":"DBS INVESTMENT ADVISERS, LLC ADV BROCHURE"},{"role":"other","program":"Hourly consulting","summary":"Single-subject financial planning and general consulting is billed at $200 an hour.","sourceUrl":"https://files.adviserinfo.sec.gov/IAPD/Content/Common/crd_iapd_Brochure.aspx?BRCHR_VRSN_ID=1005608","versionId":1005608,"submittedOn":"2026-02-02","documentName":"DBS INVESTMENT ADVISERS, LLC ADV BROCHURE"},{"role":"other","program":"Pension consulting for retirement plans","summary":"Retirement plan consulting is billed quarterly as an annualized 0.50% to 1.25% of plan assets under management, stepping down by asset level.","sourceUrl":"https://files.adviserinfo.sec.gov/IAPD/Content/Common/crd_iapd_Brochure.aspx?BRCHR_VRSN_ID=1005608","versionId":1005608,"submittedOn":"2026-02-02","documentName":"DBS INVESTMENT ADVISERS, LLC ADV BROCHURE"}],"brochureCoverage":{"scope":"sec_inventory","status":"reviewed","checkedAt":"2026-10-22T12:40:11.652123+00:00","documents":[{"name":"DBS INVESTMENT ADVISERS, LLC ADV BROCHURE","status":"read","sourceUrl":"https://files.adviserinfo.sec.gov/IAPD/Content/Common/crd_iapd_Brochure.aspx?BRCHR_VRSN_ID=1005608","versionId":1005608,"submittedOn":"2026-02-02"}]},"custodians":[{"name":"Fidelity Brokerage Services LLC","shortName":"Fidelity","location":"Smithfield, RI","smaAssets":167892123},{"name":"Ascensus Trust","shortName":"Ascensus Trust","location":"Fargo, ND","smaAssets":74694414},{"name":"Charles Schwab & Co., Inc.","shortName":"Charles Schwab","location":"Westlake, TX","smaAssets":24557499}],"custodyNote":"DBS Investment Advisers does not have custody of client assets.","otherCustodians":[],"leadership":[{"name":"Theodore Schumann","title":"Chief Compliance Officer/Member","crd":"5103648"}],"ownership":[{"label":"Theodore Schumann","detail":"Chief compliance officer/member in the 75% or more ownership band and a control person, since December 2016."}],"branchOffices":null,"filedOffices":{"otherThanPrincipal":3,"privateResidences":2},"listedOfficeAddresses":2,"foreignOffices":[],"officesByState":[{"state":"Michigan","offices":2,"addresses":[{"street":"1484 Straits Drive, Suite 6","city":"Bay City","headquarters":true},{"street":"39 S. Main Street","city":"Clarkston"}]}],"advFacts":{"source":{"file":"ia100226.zip","asOf":"2 October 2026"},"telephone":"989-686-6222","stateRegisteredReps":5,"otherAdviserReps":1,"compensation":["A percentage of assets under management","Hourly charges","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"],"financialPlanningClients":"0","assetMix":[{"label":"Exchange-traded equity securities","percent":1},{"label":"U.S. government/agency bonds","percent":1},{"label":"U.S. state and local bonds","percent":1},{"label":"Securities issued by registered investment companies or business development companies","percent":91},{"label":"Securities issued by pooled investment vehicles (other than registered investment companies)","percent":1},{"label":"Cash and cash equivalents","percent":4}],"privateFunds":0},"sources":{"adv1FilingDate":"2 February 2026","adv1Url":"https://reports.adviserinfo.sec.gov/reports/ADV/123283/PDF/123283.pdf","brochureDate":"2 February 2026","brochureUrl":"https://files.adviserinfo.sec.gov/IAPD/Content/Common/crd_iapd_Brochure.aspx?BRCHR_VRSN_ID=1005608","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 DBS Investment Advisers have?","answer":"DBS Investment Advisers has 591 clients and manages $280 million for them, as of February 2026. They include 488 individual clients, 68 pension and profit-sharing plans, and 35 high-net-worth individuals.","source":"Form ADV Part 1A, Items 5.D and 5.F, filed 2 February 2026","sourceRef":{"doc":"adv1","section":"employees"}},{"question":"What services does DBS Investment Advisers offer?","answer":"DBS Investment Advisers provides financial planning, portfolio management for individuals and small businesses, portfolio management for institutions, and pension consulting.","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 DBS Investment Advisers charge?","answer":"DBS Investment Advisers charges 0.50%–1.25% a year for its Portfolio Management Service Fees. The fee is billed in advance and is negotiable.","source":"DBS INVESTMENT ADVISERS, LLC ADV BROCHURE, filed 2 February 2026","sourceRef":{"doc":"brochure","section":"fees"}},{"question":"Which custodians does DBS Investment Advisers use?","answer":"DBS Investment Advisers’ separately managed account assets are held at Fidelity Brokerage Services LLC (Smithfield, RI), with $168M, Ascensus Trust (Fargo, ND), with $74.7M and Charles Schwab & Co., Inc. (Westlake, TX), with $24.6M. Only custodians holding at least a tenth of those assets are named.","source":"Form ADV Part 1A, Schedule D, Section 5.K.(3), filed 2 February 2026","sourceRef":{"doc":"adv1","section":"custodians"}},{"question":"How many financial advisors does DBS Investment Advisers have?","answer":"DBS Investment Advisers has 5 investment adviser representatives registered with state securities authorities, out of 8 employees, and 5 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 DBS Investment Advisers invest in?","answer":"At the end of its last fiscal year, DBS Investment Advisers’ separately managed accounts held 91% registered funds (mutual funds, ETFs, BDCs), 4% cash and equivalents, 1% exchange-traded equities, 1% U.S. government and agency bonds, 1% state and local bonds and 1% pooled vehicles (private funds and similar).","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 DBS Investment Advisers?","answer":"DBS Investment Advisers’ direct owner is Theodore Schumann (75% or more).","source":"Form ADV Part 1A, Schedules A and B, filed 2 February 2026","sourceRef":{"doc":"adv1","section":"scheduleA"}},{"question":"How does DBS Investment Advisers get paid?","answer":"DBS Investment Advisers is paid through a percentage of assets under management, hourly charges 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 DBS Investment Advisers?","answer":"DBS Investment Advisers’ main office is at 1484 Straits Drive, Suite 6, Bay City, MI 48706. Its phone number is 989-686-6222. Its website is thedbscompanies.com.","source":"Form ADV Part 1A, Item 1.F, filed 2 February 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."}