Freeman, Will & Niemeier provides financial planning, portfolio management for individuals and small businesses, and pension consulting. Financial planning was provided to 1–10 clients last fiscal year.
Freeman, Will & Niemeier reports 388 clients. They include 308 individual clients, 50 high-net-worth individuals, and 28 pension and profit-sharing plans. Of its assets, 0.0% ($0 across 0 accounts) are managed with discretion; $284M across 1,295 accounts are not.
| Client type | Clients | Assets |
|---|---|---|
| Individuals (other than HNW) | 79% | 20% |
| High-net-worth individuals | 13% | 32% |
| Pension and profit-sharing plans | 7% | 47% |
| Corporations and other businesses | <1% | <1% |
Client breakdown and activity details
| Client type | Clients | Regulatory AUM | AUM share | Avg. per client |
|---|---|---|---|---|
| Individuals (other than HNW) | 308 | $56.4M | 19.8% | $183K |
| High-net-worth individuals | 50 | $92M | 32.4% | $1.84M |
| Pension and profit-sharing plans | 28 | $134M | 47.2% | $4.79M |
| Corporations and other businesses | 2 | $1.58M | 0.6% | $792K |
| Total | 388 | $284M | 100% | $732K |
- Clients
- 308
- Regulatory AUM
- $56.4M
- AUM share
- 19.8%
- Avg. per client
- $183K
- Clients
- 50
- Regulatory AUM
- $92M
- AUM share
- 32.4%
- Avg. per client
- $1.84M
- Clients
- 28
- Regulatory AUM
- $134M
- AUM share
- 47.2%
- Avg. per client
- $4.79M
- Clients
- 2
- Regulatory AUM
- $1.58M
- AUM share
- 0.6%
- Avg. per client
- $792K
Total
- Clients
- 388
- Regulatory AUM
- $284M
- AUM share
- 100%
- Avg. per client
- $732K
- 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
- 1–10
Freeman, Will & Niemeier charges 0.70%–1.00% a year for its Portfolio Management Services. Each asset band is charged at its own rate. The fee is billed in arrears and is negotiable. The brochure also prices 2 other services, listed under fee details.
| Asset band | Annual rate |
|---|---|
| $0–$250K | 1.00% |
| $250K–$500K | 0.90% |
| $500K–$1M | 0.80% |
| $1M and above | 0.70% |
Fee details and sources
Other fees
- Consulting Services
- Consulting services are billed hourly at $50 to $200 an hour, with an estimate of total hours agreed before the engagement starts.
- Financial Planning Services
- Financial planning is billed hourly at $50 to $200 an hour, quarterly in arrears; the firm may reduce or waive the fee for clients who also engage it for portfolio management.
Patrick Freeman owns 75% or more of Freeman, Will & Niemeier. The leadership team of Freeman, Will & Niemeier includes President Patrick Freeman and Chief Compliance Officer Patrick Freeman. It has 2 employees.
Leadership
- Patrick FreemanPresident
- Patrick FreemanChief Compliance Officer
Investment adviser representatives
1 representatives listed in the SEC register as of 9 October 2026.
- Patrick Bernard Freeman
Staff
- 2 employees
- 2 in advisory functions
- 2 state-registered reps
- 2 insurance agents
- Owns 75% or more of Freeman, Will & Niemeier, Inc.
Patrick Freeman
Control person · since January 2002
Freeman, Will & Niemeier’s regulatory assets grew from $229M (July 2021) to $284M (March 2026); clients rose from 320 to 388 and employees were 2 in both filings.
Figures from each annual filing
| Filed | Regulatory AUM | Clients | Employees | Offices |
|---|---|---|---|---|
| March 2026 | $284M | 388 | 2 | 1 |
| March 2025 | $256M | 347 | 2 | 1 |
| February 2024 | $231M | 353 | 7 | 1 |
| March 2023 | $205M | 346 | 7 | 1 |
| March 2022 | $230M | 205 | 7 | 1 |
| July 2021 | $229M | 320 | 2 | 1 |
Besides its headquarters, Freeman, Will & Niemeier has 0 offices, with 1 listed address in Indiana.
Indiana · 1 listed address
- 1919 West Franklin Street, EvansvilleHQ
Contact and registration details
- Legal name
- Freeman, Will & Niemeier, Inc.
- Headquarters
- 1919 West Franklin Street, Evansville, IN 47712
- Website
- fwnadvisors.com
- Phone
- 812-425-1030
- SEC file
- 801-68759
- Structure
- Indiana corporation
- Fiscal year end
- December
Freeman, Will & Niemeier uses Charles Schwab ($194M, 77%) and Voya ($58.5M, 23%) as custodians for its separately managed accounts. Freeman, Will & Niemeier does not have custody of client assets.
- Charles SchwabCharles Schwab & Co., Inc. · Westlake, TX · $194M77%
- VoyaVoya Financial Advisors, Inc. · Windsor, CT · $58.5M23%
At year end, Freeman, Will & Niemeier’s separately managed accounts were mostly in funds (83%).
What the accounts hold
- Stocks8%
- Funds83%
- Bonds2%
- Cash7%
How many clients does Freeman, Will & Niemeier have?
Freeman, Will & Niemeier has 388 clients and manages $284 million for them, as of March 2026. They include 308 individual clients, 50 high-net-worth individuals, and 28 pension and profit-sharing plans.
Source: Form ADV Part 1A, Items 5.D and 5.F, filed 20 March 2026
What services does Freeman, Will & Niemeier offer?
Freeman, Will & Niemeier provides financial planning, portfolio management for individuals and small businesses, and pension consulting.
Source: Form ADV Part 1A, Item 5.G, from the SEC's 2 October 2026 data file
How much does Freeman, Will & Niemeier charge?
Freeman, Will & Niemeier charges 0.70%–1.00% a year for its Portfolio Management Services. Each asset band is charged at its own rate. The fee is billed in arrears and is negotiable.
Which custodians does Freeman, Will & Niemeier use?
Freeman, Will & Niemeier’s separately managed account assets are held at Charles Schwab & Co., Inc. (Westlake, TX), with $194M and Voya Financial Advisors, Inc. (Windsor, CT), with $58.5M. Only custodians holding at least a tenth of those assets are named.
Source: Form ADV Part 1A, Schedule D, Section 5.K.(3), filed 20 March 2026
How many financial advisors does Freeman, Will & Niemeier have?
Freeman, Will & Niemeier has 2 investment adviser representatives registered with state securities authorities, out of 2 employees, and 2 perform investment advisory functions. 0 employees are registered representatives of a broker-dealer and 2 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
What does Freeman, Will & Niemeier invest in?
At the end of its last fiscal year, Freeman, Will & Niemeier’s separately managed accounts held 83% registered funds (mutual funds, ETFs, BDCs), 8% exchange-traded equities, 7% cash and equivalents and 2% U.S. government and agency bonds.
Source: Form ADV Part 1A, Items 5.K.(1) and 7.B, from the SEC's 2 October 2026 data file
Who owns Freeman, Will & Niemeier?
Freeman, Will & Niemeier’s direct owner is Patrick Freeman (75% or more).
Source: Form ADV Part 1A, Schedules A and B, filed 20 March 2026
How does Freeman, Will & Niemeier get paid?
Freeman, Will & Niemeier is paid through a percentage of assets under management, hourly charges, fixed fees and commissions. Its Form ADV lists no 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 Freeman, Will & Niemeier registered with the SEC?
Yes, Freeman, Will & Niemeier has been registered with the SEC as an investment adviser since 25 January 2008. Its CRD number is 121628 and its SEC file number is 801-68759.
Source: Form ADV Part 1A, Item 1, filed 20 March 2026; IAPD firm record
How do I contact Freeman, Will & Niemeier?
Freeman, Will & Niemeier’s main office is at 1919 West Franklin Street, Evansville, IN 47712. Its phone number is 812-425-1030. Its website is fwnadvisors.com.