Evolution Advisers provides financial planning, portfolio management for individuals and small businesses, education planning, estate planning, insurance, retirement plan services, and tax planning. Financial planning was provided to 101–250 clients last fiscal year.
Evolution Advisers reports 168 clients. They include 96 high-net-worth individuals, 71 individual clients and 1 charitable organization. Of its assets, 95.5% ($322M across 892 accounts) are managed with discretion; $15.3M across 99 accounts are not. It advised 1 client without assets under management last fiscal year.
| Client type | Clients | Assets |
|---|---|---|
| Individuals (other than HNW) | 42% | 11% |
| High-net-worth individuals | 57% | 89% |
| Charitable organizations | <1% | <1% |
Client breakdown and activity details
| Client type | Clients | Regulatory AUM | AUM share | Avg. per client |
|---|---|---|---|---|
| Individuals (other than HNW) | 71 | $36.2M | 10.7% | $510K |
| High-net-worth individuals | 96 | $301M | 89.1% | $3.13M |
| Charitable organizations | 1 | $368K | 0.1% | $368K |
| Total | 168 | $337M | 100% | $2.01M |
- Clients
- 71
- Regulatory AUM
- $36.2M
- AUM share
- 10.7%
- Avg. per client
- $510K
- Clients
- 96
- Regulatory AUM
- $301M
- AUM share
- 89.1%
- Avg. per client
- $3.13M
- Clients
- 1
- Regulatory AUM
- $368K
- AUM share
- 0.1%
- Avg. per client
- $368K
Total
- Clients
- 168
- Regulatory AUM
- $337M
- AUM share
- 100%
- Avg. per client
- $2.01M
- Clients outside the U.S.
- 0%
- Clients advised without assets under management last fiscal year
- 1
- Private funds advised
- 0
- Financial planning clients last fiscal year
- 101–250
Evolution Advisers charges 0.20%–1.00% a year for its Financial Planning and Investment Advisory Services Program. Each asset band is charged at its own rate. The fee is billed in advance and has a $10,000 annual minimum. The brochure also prices one other service, listed under fee details.
| Asset band | Annual rate |
|---|---|
| $0–$2M | 1.00% |
| $2M–$5M | 0.75% |
| $5M–$10M | 0.30% |
| $10M and above | 0.20% |
Fee details and sources
Other fees
- Non-managed real estate analysis
- Analysis and support for non-managed investment real estate is billed at $400 per hour after four hours of applied time, in addition to the annual fee.
John Clair owns 50% to 75% of Evolution Advisers. The leadership team of Evolution Advisers includes Chief Compliance Officer David Obrien. It has 7 employees, 6 of them in advisory roles.
Staff
- 7 employees
- 6 in advisory functions
- 5 state-registered reps
- Owns 50% to 75% of Evolution Advisers, Inc.
John Clair
Control person · since February 2009
- Owns 50% to 75% of Evolution Advisers, Inc.
David Obrien
Control person · since April 2016
Evolution Advisers’ regulatory assets grew 2.0× from $172M (July 2021) to $337M (April 2026); clients rose from 121 to 168 and employees from 6 to 7.
Figures from each annual filing
| Filed | Regulatory AUM | Clients | StaffEmployees | Offices |
|---|---|---|---|---|
| Apr 2026April 2026 | $337M | 168 | 7 | 1 |
| Jan 2025January 2025 | $271M | 164 | 8 | 1 |
| Jun 2024June 2024 | $232M | 162 | 7 | 1 |
| Jan 2023January 2023 | $183M | 137 | 7 | 1 |
| Apr 2022April 2022 | $185M | 126 | 6 | 1 |
| Jul 2021July 2021 | $172M | 121 | 6 | 1 |
Besides its headquarters, Evolution Advisers has 0 offices, with 1 listed address in 1 state.
Virginia · 1 listed address
- 2917 West Leigh Street, RichmondHQ
Contact and registration details
- Legal name
- Evolution Advisers, Inc.
- Headquarters
- 2917 West Leigh Street, Richmond, VA 23230
- Website
- evolutionadvisers.com
- Phone
- 804-794-1981
- SEC file
- 801-110783
- Founded
- 2006
- Structure
- Virginia corporation
- Fiscal year end
- December
Evolution Advisers’ named custodian for separately managed accounts is Altruist ($253M). Evolution Advisers does not have custody of client assets.
- AltruistAltruist Financial LLC · Culver City, CA · $253M100%
At year end, Evolution Advisers’ separately managed accounts were mostly in funds (91%). Its reported 13F holdings for the quarter ended 30 June 2026 total $272K across 943 positions; the largest are Vanguard Tax-managed Fds (16.1%), Vanguard Index Fds (14.0%) and Vanguard Index Fds (10.6%).
What the accounts hold
- Stocks3%
- Funds91%
- Cash5%
Filed values cover 99%. The neutral 1% gap has no reported category.
How many clients does Evolution Advisers have?
Evolution Advisers has 168 clients and manages $337 million for them, as of April 2026. They include 96 high-net-worth individuals, 71 individual clients and 1 charitable organization.
Source: Form ADV Part 1A, Items 5.D and 5.F, filed 28 April 2026
What services does Evolution Advisers offer?
Evolution Advisers provides financial planning, portfolio management for individuals and small businesses, education planning, estate planning, insurance, retirement plan services, and tax planning.
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 Evolution Advisers charge?
Evolution Advisers charges 0.20%–1.00% a year for its Financial Planning and Investment Advisory Services Program. Each asset band is charged at its own rate. The fee is billed in advance and has a $10,000 annual minimum.
Which custodians does Evolution Advisers use?
Evolution Advisers’ separately managed account assets are held at Altruist Financial LLC (Culver City, CA), with $253M. Only custodians holding at least a tenth of those assets are named.
Source: Form ADV Part 1A, Schedule D, Section 5.K.(3), filed 28 April 2026
How many financial advisors does Evolution Advisers have?
Evolution Advisers has 5 investment adviser representatives registered with state securities authorities, out of 7 employees, and 6 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 Evolution Advisers invest in?
At the end of its last fiscal year, Evolution Advisers’ separately managed accounts held 91% registered funds (mutual funds, ETFs, BDCs), 5% cash and equivalents and 3% exchange-traded equities.
Source: Form ADV Part 1A, Items 5.K.(1) and 7.B, from the SEC's 2 October 2026 data file
Who owns Evolution Advisers?
Evolution Advisers’ direct owners are John Clair (50% to 75%) and David Obrien (50% to 75%).
Source: Form ADV Part 1A, Schedules A and B, filed 28 April 2026
How does Evolution Advisers get paid?
Evolution Advisers is paid through 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
How do I contact Evolution Advisers?
Evolution Advisers’ main office is at 2917 West Leigh Street, Richmond, VA 23230. Its phone number is 804-794-1981. Its website is evolutionadvisers.com.