First Nebraska Advisory provides financial planning, portfolio management for individuals and small businesses, selecting other managers, education planning, estate planning, insurance, and retirement plan services. Financial planning was provided to 251–500 clients last fiscal year.
First Nebraska Advisory reports 474 clients. They include 378 individual clients, 85 high-net-worth individuals, and 11 pension and profit-sharing plans. Of its assets, 0.0% ($0 across 0 accounts) are managed with discretion; $458M across 976 accounts are not.
| Client type | Clients | Assets |
|---|---|---|
| Individuals (other than HNW) | 80% | 33% |
| High-net-worth individuals | 18% | 61% |
| Pension and profit-sharing plans | 2% | 4% |
| Charitable organizations | Fewer than 5 | 1% |
Client shares use reported counts. Client types without a reported count are excluded from that total.
Client breakdown and activity details
| Client type | Clients | Regulatory AUM | AUM share | Avg. per client |
|---|---|---|---|---|
| Individuals (other than HNW) | 378 | $153M | 33.4% | $405K |
| High-net-worth individuals | 85 | $282M | 61.5% | $3.31M |
| Pension and profit-sharing plans | 11 | $18.7M | 4.1% | $1.7M |
| Charitable organizations | Fewer than 5 | $4.64M | 1.0% | — |
| Total | 474 | $458M | 100% | — |
- Clients
- 378
- Regulatory AUM
- $153M
- AUM share
- 33.4%
- Avg. per client
- $405K
- Clients
- 85
- Regulatory AUM
- $282M
- AUM share
- 61.5%
- Avg. per client
- $3.31M
- Clients
- 11
- Regulatory AUM
- $18.7M
- AUM share
- 4.1%
- Avg. per client
- $1.7M
- Clients
- Fewer than 5
- Regulatory AUM
- $4.64M
- AUM share
- 1.0%
- Avg. per client
- —
Total
- Clients
- 474
- Regulatory AUM
- $458M
- AUM share
- 100%
- Avg. per client
- —
- Clients outside the U.S.
- 0%
- Clients advised without assets under management last fiscal year
- 0
- Private funds advised
- 0
- Financial planning clients last fiscal year
- 251–500
First Nebraska Advisory is paid through a percentage of assets under management. The reviewed brochures do not disclose an asset-based fee rate. Read the SEC-filed brochure.
First Nebraska Financial Services, Inc. owns 75% or more of First Nebraska Advisory and is in turn owned by John Smith (50–75%) and Darrel Smith (25–50%). The leadership team of First Nebraska Advisory includes President Darrel Smith. It has 7 employees, 3 of them in advisory roles.
Leadership
- Darrel SmithPresident, CEO & Chief Compliance Officer
- John SmithVice President
Investment adviser representatives
3 representatives listed in the SEC register as of 9 October 2026.
Staff
- 7 employees
- 3 in advisory functions
- 3 state-registered reps
- 3 broker-dealer reps
- 1 insurance agent
- Owns 75% or more of First Nebraska Advisory LLC
First Nebraska Financial Services, Inc.
Control person · since August 2018
- Owns 50% to 75% of First Nebraska Financial Services, Inc.
John Smith
Control person · since July 1987
- Owns 25% to 50% of First Nebraska Financial Services, Inc.
Darrel Smith
Control person · since July 1987
First Nebraska Advisory’s regulatory assets grew 2.0× from $226M (June 2021) to $458M (September 2026); clients rose from 332 to 474 and employees from 3 to 7.
Figures from each annual filing
| Filed | Regulatory AUM | Clients | Employees | Offices |
|---|---|---|---|---|
| September 2026 | $458M | 474 | 7 | 1 |
| July 2025 | $413M | 468 | 6 | 1 |
| April 2024 | $358M | 447 | 7 | 1 |
| March 2023 | $297M | 449 | 5 | 1 |
| February 2022 | $282M | 372 | 3 | 1 |
| June 2021 | $226M | 332 | 3 | 1 |
Besides its headquarters, First Nebraska Advisory has 0 offices, with 1 listed address in Nebraska.
Nebraska · 1 listed address
- 202 W. 2nd St., North PlatteHQ
Contact and registration details
- Legal name
- First Nebraska Advisory LLC
- Headquarters
- 202 W. 2nd St., North Platte, NE 69101
- Website
- firstnebraskafinancial.com
- Phone
- 308-534-1322
- SEC file
- 801-114691
- Founded
- 2018
- Structure
- Nebraska LLC
- Fiscal year end
- December
First Nebraska Advisory uses Charles Schwab ($448M) as custodian for its separately managed accounts. First Nebraska Advisory does not have custody of client assets.
- Charles SchwabCharles Schwab & Co., Inc. · Westlake, TX · $448M100%
At year end, First Nebraska Advisory’s separately managed accounts were mostly in funds (94%).
What the accounts hold
- Stocks5%
- Funds94%
- Cash1%
How many clients does First Nebraska Advisory have?
First Nebraska Advisory has 474 clients and manages $458 million for them, as of September 2026. They include 378 individual clients, 85 high-net-worth individuals, and 11 pension and profit-sharing plans.
Source: Form ADV Part 1A, Items 5.D and 5.F, filed 2 September 2026
What services does First Nebraska Advisory offer?
First Nebraska Advisory provides financial planning, portfolio management for individuals and small businesses, selecting other managers, education planning, estate planning, insurance, and retirement plan services.
Source: Form ADV Part 1A, Item 5.G, from the SEC's 2 October 2026 data file; Part 2A brochure, Item 4
Which custodians does First Nebraska Advisory use?
First Nebraska Advisory’s separately managed account assets are held at Charles Schwab & Co., Inc. (Westlake, TX), with $448M. 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 September 2026
How many financial advisors does First Nebraska Advisory have?
First Nebraska Advisory has 3 investment adviser representatives registered with state securities authorities, out of 7 employees, and 3 perform investment advisory functions. 3 employees are registered representatives of a broker-dealer and 1 employee is a licensed insurance agent.
Source: Form ADV Part 1A, Items 5.A and 5.B, from the SEC's 2 October 2026 data file
What does First Nebraska Advisory invest in?
At the end of its last fiscal year, First Nebraska Advisory’s separately managed accounts held 94% registered funds (mutual funds, ETFs, BDCs), 5% exchange-traded equities and 1% cash and equivalents.
Source: Form ADV Part 1A, Items 5.K.(1) and 7.B, from the SEC's 2 October 2026 data file
Who owns First Nebraska Advisory?
First Nebraska Advisory is owned through a holding company by Darrel and John Smith. Its direct owner is First Nebraska Financial Services, Inc. (75% or more).
Source: Form ADV Part 1A, Schedules A and B, filed 2 September 2026
How does First Nebraska Advisory get paid?
First Nebraska Advisory is paid through a percentage of assets under management. 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
Is First Nebraska Advisory registered with the SEC?
Yes, First Nebraska Advisory has been registered with the SEC as an investment adviser since 12 February 2019. Its CRD number is 298667 and its SEC file number is 801-114691.
Source: Form ADV Part 1A, Item 1, filed 2 September 2026; IAPD firm record
How do I contact First Nebraska Advisory?
First Nebraska Advisory’s main office is at 202 W. 2nd St., North Platte, NE 69101. Its phone number is 308-534-1322. Its website is firstnebraskafinancial.com.