Heritage Asset Management provides financial planning, portfolio management for individuals and small businesses, pension consulting, and selecting other managers.
Heritage Asset Management reports 749 clients. They include 691 individual clients, 55 high-net-worth individuals and 3 charitable organizations. Of its assets, 100.0% ($155M across 1,293 accounts) are managed with discretion. Of its clients, 1% are outside the U.S. It advised 5 clients without assets under management last fiscal year.
| Client type | Clients | Assets |
|---|---|---|
| Individuals (other than HNW) | 92% | 57% |
| High-net-worth individuals | 7% | 42% |
| Charitable organizations | <1% | 1% |
Client breakdown and activity details
| Client type | Clients | Regulatory AUM | AUM share | Avg. per client |
|---|---|---|---|---|
| Individuals (other than HNW) | 691 | $88.2M | 56.9% | $128K |
| High-net-worth individuals | 55 | $65M | 41.9% | $1.18M |
| Charitable organizations | 3 | $1.8M | 1.2% | $600K |
| Total | 749 | $155M | 100% | $207K |
- Clients
- 691
- Regulatory AUM
- $88.2M
- AUM share
- 56.9%
- Avg. per client
- $128K
- Clients
- 55
- Regulatory AUM
- $65M
- AUM share
- 41.9%
- Avg. per client
- $1.18M
- Clients
- 3
- Regulatory AUM
- $1.8M
- AUM share
- 1.2%
- Avg. per client
- $600K
Total
- Clients
- 749
- Regulatory AUM
- $155M
- AUM share
- 100%
- Avg. per client
- $207K
- Clients outside the U.S.
- 1%
- Clients advised without assets under management last fiscal year
- 5
- Private funds advised
- 0
- Financial planning clients last fiscal year
- 0
Heritage Asset Management charges 1.25%–2.00% a year for its Asset Management. The whole portfolio is charged at the rate of its band. The fee is billed in arrears and is negotiable. The brochure also prices 3 other services, listed under fee details.
| Asset band | Annual rate |
|---|---|
| $0–$25K | 2.00% |
| $25K–$50K | 1.75% |
| $50K–$100K | 1.50% |
| $100K and above | 1.25% |
Fee details and sources
Other fees
- Assets Under Advisement
- Fees are a percentage of assets under advisement, with an annual fee that will not exceed 1%, paid in arrears quarterly.
- ERISA Plan Services
- Annual fee on plan assets, not to exceed 1% and negotiable, charged quarterly or monthly in arrears or in advance.
- Financial Planning and Consulting
- Financial planning and consulting is a fixed fee of $500 to $5,000, or an hourly fee of $250 for consulting.
David Thompson owns 75% or more of Heritage Asset Management. It has 2 employees.
Leadership
- David ThompsonManaging Member/CCO
Investment adviser representatives
2 representatives listed in the SEC register as of 9 October 2026.
Staff
- 2 employees
- 2 in advisory functions
- 2 state-registered reps
- 2 insurance agents
- Owns 75% or more of Heritage Asset Management, LLC
David Thompson
Control person · since September 2022
Heritage Asset Management’s regulatory assets grew 1.6× from $100M (June 2023) to $155M (January 2026); clients were 749 in both filings and employees were 2 in both filings.
Figures from each annual filing
| Filed | Regulatory AUM | Clients | Employees | Offices |
|---|---|---|---|---|
| January 2026 | $155M | 749 | 2 | 1 |
| July 2025 | $130M | 705 | 2 | 1 |
| April 2024 | $115M | 729 | 2 | 1 |
| June 2023 | $100M | 717 | 2 | 1 |
Besides its headquarters, Heritage Asset Management has 0 offices, with 1 listed address in Missouri.
Missouri · 1 listed address
- 7926 E 171st Street, BeltonHQ
Contact and registration details
- Legal name
- Heritage Asset Management, LLC
- Headquarters
- 7926 E 171st Street, Belton, MO 64012
- Website
- Not reported
- Phone
- 816-348-2060
- SEC file
- 801-126700
- Structure
- Missouri LLC
- Fiscal year end
- December
Heritage Asset Management uses Charles Schwab ($155M) as custodian for its separately managed accounts. Heritage Asset Management does not have custody of client assets.
- Charles SchwabCharles Schwab & Co., Inc. · Irving, TX · $155M100%
At year end, Heritage Asset Management’s separately managed accounts were mostly in funds (95%).
What the accounts hold
- Stocks4%
- Exchange-traded equities3%
- Non-exchange-traded equities1%
- Funds95%
- Cash1%
How many clients does Heritage Asset Management have?
Heritage Asset Management has 749 clients and manages $155 million for them, as of January 2026. They include 691 individual clients, 55 high-net-worth individuals and 3 charitable organizations.
Source: Form ADV Part 1A, Items 5.D and 5.F, filed 29 January 2026
What services does Heritage Asset Management offer?
Heritage Asset Management provides financial planning, portfolio management for individuals and small businesses, pension consulting, and selecting other managers.
Source: Form ADV Part 1A, Item 5.G, from the SEC's 2 October 2026 data file
How much does Heritage Asset Management charge?
Heritage Asset Management charges 1.25%–2.00% a year for its Asset Management. The whole portfolio is charged at the rate of its band. The fee is billed in arrears and is negotiable.
Which custodians does Heritage Asset Management use?
Heritage Asset Management’s separately managed account assets are held at Charles Schwab & Co., Inc. (Irving, TX), with $155M. Only custodians holding at least a tenth of those assets are named.
Source: Form ADV Part 1A, Schedule D, Section 5.K.(3), filed 29 January 2026
How many financial advisors does Heritage Asset Management have?
Heritage Asset Management 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 Heritage Asset Management invest in?
At the end of its last fiscal year, Heritage Asset Management’s separately managed accounts held 95% registered funds (mutual funds, ETFs, BDCs), 3% exchange-traded equities, 1% non-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 Heritage Asset Management?
Heritage Asset Management’s direct owner is David Thompson (75% or more).
Source: Form ADV Part 1A, Schedules A and B, filed 29 January 2026
How does Heritage Asset Management get paid?
Heritage Asset Management is paid through a percentage of assets under management, hourly charges 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
Is Heritage Asset Management registered with the SEC?
Yes, Heritage Asset Management has been registered with the SEC as an investment adviser since 7 October 2022. Its CRD number is 323344 and its SEC file number is 801-126700.
Source: Form ADV Part 1A, Item 1, filed 29 January 2026; IAPD firm record
How do I contact Heritage Asset Management?
Heritage Asset Management’s main office is at 7926 E 171st Street, Belton, MO 64012. Its phone number is 816-348-2060.