FSA Investment Group provides financial planning, portfolio management for individuals and small businesses, portfolio management for institutions, pension consulting, selecting other managers, and educational seminars. Financial planning was provided to 1–10 clients last fiscal year. The firm advises 1 private fund.
FSA Investment Group reports 61 clients. They include 23 individual clients, 18 high-net-worth individuals and 15 other clients. Of its assets, 96.7% ($736M across 118 accounts) are managed with discretion; $25.4M across 6 accounts are not. It advised 1 client without assets under management last fiscal year.
| Client type | Clients | Assets |
|---|---|---|
| Individuals (other than HNW) | 38% | 1% |
| High-net-worth individuals | 30% | 11% |
| Charitable organizations | 2% | <1% |
| Corporations and other businesses | 7% | 3% |
| Other | 25% | 85% |
Client breakdown and activity details
| Client type | Clients | Regulatory AUM | AUM share | Avg. per client |
|---|---|---|---|---|
| Individuals (other than HNW) | 23 | $10.3M | 1.4% | $449K |
| High-net-worth individuals | 18 | $80.4M | 10.6% | $4.47M |
| Charitable organizations | Fewer than 5 | $116K | 0.0% | $116K |
| Corporations and other businesses | Fewer than 5 | $25.4M | 3.3% | $6.35M |
| Other | 15 | $646M | 84.7% | $43M |
| Total | 61 | $762M | 100% | — |
- Clients
- 23
- Regulatory AUM
- $10.3M
- AUM share
- 1.4%
- Avg. per client
- $449K
- Clients
- 18
- Regulatory AUM
- $80.4M
- AUM share
- 10.6%
- Avg. per client
- $4.47M
- Clients
- Fewer than 5
- Regulatory AUM
- $116K
- AUM share
- 0.0%
- Avg. per client
- $116K
- Clients
- Fewer than 5
- Regulatory AUM
- $25.4M
- AUM share
- 3.3%
- Avg. per client
- $6.35M
- Clients
- 15
- Regulatory AUM
- $646M
- AUM share
- 84.7%
- Avg. per client
- $43M
Total
- Clients
- 61
- Regulatory AUM
- $762M
- AUM share
- 100%
- Avg. per client
- —
- Clients outside the U.S.
- 0%
- Clients advised without assets under management last fiscal year
- 1
- Private funds advised
- 1
- Financial planning clients last fiscal year
- 1–10
FSA Investment Group is paid through a percentage of assets under management and fixed fees (other than subscription fees); its fees and minimums are set out in its brochures on the SEC website.
Nancy Lowrey owns 50% to 75% of FSA Investment Group. The leadership team of FSA Investment Group includes Chief Investment Officer James Webb and Chief Compliance Officer Matthew Durham. It has 12 employees.
Staff
- 12 employees
- 12 in advisory functions
- 12 state-registered reps
- Owns 50% to 75% of Fsa Investment Group, LLC
Nancy Lowrey
Control person · since March 2012
- Owns 25% to 50% of Fsa Investment Group, LLC
Johnathan Hosman
Control person · since October 2019
- Owns 10% to 25% of Fsa Investment Group, LLC
James Wells
Control person · since April 2022
- Owns 10% to 25% of Fsa Investment Group, LLC
James Webb
Control person · since January 2023
FSA Investment Group’s regulatory assets grew 1.7× from $450M (July 2021) to $762M (May 2026); clients were 61 in both filings and employees fell from 16 to 12.
Figures from each annual filing
| Filed | Regulatory AUM | Clients | StaffEmployees | Offices |
|---|---|---|---|---|
| May 2026May 2026 | $762M | 61 | 12 | 8 |
| Jul 2025July 2025 | $710M | 64 | 14 | 9 |
| Jul 2024July 2024 | $598M | 60 | 9 | 4 |
| Jul 2023July 2023 | $509M | 66 | 9 | 4 |
| Jul 2022July 2022 | $673M | 70 | 8 | 3 |
| Jul 2021July 2021 | $450M | 63 | 16 | 3 |
Besides its headquarters, FSA Investment Group has 7 offices (4 private residences, listed without an address), with 4 listed addresses across 4 states.
Alabama · 1 listed address
- 216 Tennant Drive, Atmore
California · 1 listed address
- 3111 Camino Del Rio North, Ca, San Diego
Florida · 1 listed address
- 212 South Alcaniz Street, PensacolaHQ
Washington · 1 listed address
- 701 5th Ave Suite 4204, Seattle
Contact and registration details
- Legal name
- Fsa Investment Group, LLC
- Headquarters
- 212 South Alcaniz Street, Pensacola, FL 32502
- Website
- fsa-ig.com
- Phone
- 850-696-1550
- @fsa-investment-group
- SEC file
- 801-76511
- Structure
- Alabama LLC
- Fiscal year end
- December
FSA Investment Group’s named custodian for separately managed accounts is Charles Schwab ($736M). FSA Investment Group does not have custody of client assets.
- Charles SchwabCharles Schwab & Co., Inc. · San Francisco, CA · $736M100%
At year end, FSA Investment Group’s separately managed accounts were largely in funds (47%) and bonds (41%). Its reported 13F holdings for the quarter ended 30 June 2026 total $308M across 47 positions; the largest are Schwab Strategic TR (38.8%), Vanguard Instl Index FD (21.8%) and Invesco Exchange Traded FD T (15.7%).
What the accounts hold
- Stocks2%
- Funds47%
- Registered funds42%
- Pooled vehicles5%
- Bonds41%
- U.S. government and agency bonds35%
- State and local bonds6%
- Cash10%
How many clients does FSA Investment Group have?
FSA Investment Group has 61 clients and manages $762 million for them, as of May 2026. They include 23 individual clients, 18 high-net-worth individuals and 15 other clients.
Source: Form ADV Part 1A, Items 5.D and 5.F, filed 27 May 2026
What services does FSA Investment Group offer?
FSA Investment Group provides financial planning, portfolio management for individuals and small businesses, portfolio management for institutions, pension consulting, selecting other managers, and educational seminars.
Source: Form ADV Part 1A, Item 5.G, from the SEC's 2 October 2026 data file
Which custodians does FSA Investment Group use?
FSA Investment Group’s separately managed account assets are held at Charles Schwab & Co., Inc. (San Francisco, CA), with $736M. Only custodians holding at least a tenth of those assets are named.
Source: Form ADV Part 1A, Schedule D, Section 5.K.(3), filed 27 May 2026
How many financial advisors does FSA Investment Group have?
FSA Investment Group has 12 investment adviser representatives registered with state securities authorities, out of 12 employees, and 12 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 FSA Investment Group invest in?
At the end of its last fiscal year, FSA Investment Group’s separately managed accounts held 42% registered funds (mutual funds, ETFs, BDCs), 35% U.S. government and agency bonds, 10% cash and equivalents, 6% state and local bonds, 5% pooled vehicles (private funds and similar) and 2% exchange-traded equities. It advises 1 private fund.
Source: Form ADV Part 1A, Items 5.K.(1) and 7.B, from the SEC's 2 October 2026 data file
Who owns FSA Investment Group?
FSA Investment Group’s direct owners are Nancy Lowrey (50% to 75%), Johnathan Hosman (25% to 50%), James Wells (10% to 25%) and James Webb (10% to 25%).
Source: Form ADV Part 1A, Schedules A and B, filed 27 May 2026
How does FSA Investment Group get paid?
FSA Investment Group is paid through a percentage of assets under management and 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 FSA Investment Group?
FSA Investment Group’s main office is at 212 South Alcaniz Street, Pensacola, FL 32502. Its phone number is 850-696-1550. Its website is fsa-ig.com.