{"url":"https://nivawealth.com/firms/forness-financial-172473","iapdUrl":"https://adviserinfo.sec.gov/firm/summary/172473","regulatoryAum":202756809,"crd":"172473","adviserRoster":{"asOf":"2026-10-09","items":[{"crd":"4055782","suffix":null,"lastName":"FORNESS","firstName":"KIMBERLY","middleName":"SOROKO"},{"crd":"2950592","suffix":null,"lastName":"FORNESS","firstName":"NORMAN","middleName":"ANTHONY"},{"crd":"3188939","suffix":null,"lastName":"FORNESS","firstName":"RYAN","middleName":"CHARLES"}],"total":3,"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":"2021-02-10","regulatoryAum":150000000,"clients":201,"employees":3,"offices":1},{"filedOn":"2022-02-21","regulatoryAum":167000000,"clients":232,"employees":3,"offices":1},{"filedOn":"2023-07-27","regulatoryAum":150669286,"clients":224,"employees":3,"offices":1},{"filedOn":"2024-01-22","regulatoryAum":157753760,"clients":229,"employees":3,"offices":1},{"filedOn":"2025-01-21","regulatoryAum":176247615,"clients":227,"employees":3,"offices":1},{"filedOn":"2026-02-06","regulatoryAum":202756809,"clients":227,"employees":3,"offices":1}],"secFileNumber":"801-112637","legalName":"Forness Financial LLC","displayName":"Forness Financial","slug":"forness-financial-172473","website":"https://fornessfinancial.com/","logo":{"src":"https://rmkhnxnbeclogprvkfyl.supabase.co/storage/v1/object/public/firm-logos/172473/605e44fbaffe2d69-r1.webp","tone":"light","width":957,"height":200,"sourceUrl":"https://www.fornessfinancial.com/","sourceLabel":"Forness Financial LLC, website"},"classification":{"segment":"individuals","segmentLabel":"Wealth management","type":"independent_wealth_manager","typeLabel":"RIA","feeDisclosure":"full"},"founded":"2014","organization":"Massachusetts limited liability company","fiscalYearEnd":"December","headquarters":{"street":"105 Chestnut Street, Suite 37","city":"Needham","state":"MA","stateName":"Massachusetts","country":"United States","postalCode":"02492"},"tradeNames":[],"registration":{"secApproved":"16 March 2018","noticeFilings":null,"latestNoticeFiling":null},"wealthAumPerClient":893201.8017621145,"staff":{"employees":3,"advisory":3,"brokerDealerReps":0,"insuranceAgents":3,"promoters":0},"aum":{"regulatory":202756809,"discretionary":202756809,"discretionaryAccounts":680,"nonDiscretionary":0,"nonDiscretionaryAccounts":0,"wrapProgram":202756809,"nonUsClientsPct":0,"nonAumClients":0},"clientTypes":[{"label":"Individuals (other than HNW)","clients":150,"regulatoryAum":63928717},{"label":"High-net-worth individuals","clients":77,"regulatoryAum":138828092}],"feePrograms":[{"role":"main","program":"Investment Management Services","feeBasis":"marginal","fee_tiers":[{"to":1000000,"pct":1,"from":0},{"to":2000000,"pct":0.5,"from":1000000},{"to":null,"pct":0.25,"from":2000000}],"sourceUrl":"https://files.adviserinfo.sec.gov/IAPD/Content/Common/crd_iapd_Brochure.aspx?BRCHR_VRSN_ID=1007145","versionId":1007145,"ratePeriod":"annual","fee_billing":"arrears","submittedOn":"2026-02-06","documentName":"FORNESS DISCLOSURE BROCHURE AND SUPPLEMENTS","fee_rate_low":0.25,"fee_rate_high":1,"fee_negotiable":true,"minimum_account":null,"feeMinimumPeriod":null,"fee_minimum_annual":null}],"brochureCoverage":{"scope":"sec_inventory","status":"reviewed","checkedAt":"2026-10-22T15:00:35.053215+00:00","documents":[{"name":"FORNESS DISCLOSURE BROCHURE AND SUPPLEMENTS","status":"read","sourceUrl":"https://files.adviserinfo.sec.gov/IAPD/Content/Common/crd_iapd_Brochure.aspx?BRCHR_VRSN_ID=1007145","versionId":1007145,"submittedOn":"2026-02-06"}]},"custodians":[{"name":"Charles Schwab & Co., Inc.","shortName":"Charles Schwab","location":"Omaha, NE","smaAssets":202756809}],"custodyNote":"Forness Financial does not have custody of client assets.","leadership":[{"name":"Ryan Forness","title":"Managing Principal and Chief Compliance Officer","crd":"3188939"},{"name":"Norman Forness","title":"Managing Principal","crd":"2950592"}],"ownership":[{"label":"Ryan Forness","detail":"Managing principal and chief compliance officer in the 50% to 75% ownership band and a control person, since September 2014."},{"label":"Norman Forness","detail":"Managing principal in the 50% to 75% ownership band and a control person, since September 2014."}],"filedOffices":{"otherThanPrincipal":0,"privateResidences":0},"listedOfficeAddresses":1,"foreignOffices":[],"officesByState":[{"state":"Massachusetts","offices":1,"addresses":[{"street":"105 Chestnut Street, Suite 37","city":"Needham","headquarters":true}]}],"brochureServices":["education planning","insurance"],"advFacts":{"source":{"file":"ia100226.zip","asOf":"2 October 2026"},"telephone":"781-400-2604","stateRegisteredReps":3,"otherAdviserReps":0,"compensation":["A percentage of assets under management"],"activities":["Financial planning services","Portfolio management for individuals and/or small businesses"],"financialPlanningClients":"0","assetMix":[{"label":"Exchange-traded equity securities","percent":31},{"label":"Investment grade corporate bonds","percent":1},{"label":"Securities issued by registered investment companies or business development companies","percent":64},{"label":"Cash and cash equivalents","percent":4}],"privateFunds":0},"sources":{"adv1FilingDate":"6 February 2026","adv1Url":"https://reports.adviserinfo.sec.gov/reports/ADV/172473/PDF/172473.pdf","brochureDate":"6 February 2026","brochureUrl":"https://files.adviserinfo.sec.gov/IAPD/Content/Common/crd_iapd_Brochure.aspx?BRCHR_VRSN_ID=1007145","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 Forness Financial have?","answer":"Forness Financial has 227 clients and manages $203 million for them, as of February 2026. They include 150 individual clients and 77 high-net-worth individuals.","source":"Form ADV Part 1A, Items 5.D and 5.F, filed 6 February 2026","sourceRef":{"doc":"adv1","section":"employees"}},{"question":"What services does Forness Financial offer?","answer":"Forness Financial provides financial planning, portfolio management for individuals and small businesses, education planning, and insurance.","source":"Form ADV Part 1A, Item 5.G, from the SEC's 2 October 2026 data file; Part 2A brochure, Item 4","sourceRef":{"doc":"adv1","section":"employees"}},{"question":"How much does Forness Financial charge?","answer":"Forness Financial charges 0.25%–1.00% a year for its Investment Management Services. Each asset band is charged at its own rate. The fee is billed in arrears and is negotiable.","source":"FORNESS DISCLOSURE BROCHURE AND SUPPLEMENTS, filed 6 February 2026","sourceRef":{"doc":"brochure","section":"fees"}},{"question":"Which custodians does Forness Financial use?","answer":"Forness Financial’s separately managed account assets are held at Charles Schwab & Co., Inc. (Omaha, NE), with $203M. Only custodians holding at least a tenth of those assets are named.","source":"Form ADV Part 1A, Schedule D, Section 5.K.(3), filed 6 February 2026","sourceRef":{"doc":"adv1","section":"custodians"}},{"question":"How many financial advisors does Forness Financial have?","answer":"Forness Financial has 3 investment adviser representatives registered with state securities authorities, out of 3 employees, and 3 perform investment advisory functions. 0 employees are registered representatives of a broker-dealer and 3 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","sourceRef":{"doc":"adv1","section":"employees"}},{"question":"What does Forness Financial invest in?","answer":"At the end of its last fiscal year, Forness Financial’s separately managed accounts held 64% registered funds (mutual funds, ETFs, BDCs), 31% exchange-traded equities, 4% cash and equivalents and 1% investment grade corporate bonds.","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 Forness Financial?","answer":"Forness Financial’s direct owners are Ryan Forness (50% to 75%) and Norman Forness (50% to 75%).","source":"Form ADV Part 1A, Schedules A and B, filed 6 February 2026","sourceRef":{"doc":"adv1","section":"scheduleA"}},{"question":"How does Forness Financial get paid?","answer":"Forness Financial 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","sourceRef":{"doc":"adv1","section":"employees"}},{"question":"Is Forness Financial registered with the SEC?","answer":"Yes, Forness Financial has been registered with the SEC as an investment adviser since 16 March 2018. Its CRD number is 172473 and its SEC file number is 801-112637.","source":"Form ADV Part 1A, Item 1, filed 6 February 2026; IAPD firm record","sourceRef":{"doc":"adv1","section":"identity"}},{"question":"How do I contact Forness Financial?","answer":"Forness Financial’s main office is at 105 Chestnut Street, Suite 37, Needham, MA 02492. Its phone number is 781-400-2604. Its website is fornessfinancial.com.","source":"Form ADV Part 1A, Item 1.F, filed 6 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."}