{"url":"https://nivawealth.com/firms/heritage-financial-285149","iapdUrl":"https://adviserinfo.sec.gov/firm/summary/285149","regulatoryAum":407976663,"crd":"285149","adviserRoster":{"asOf":"2026-10-09","items":[{"crd":"8054624","suffix":null,"lastName":"Albaghdadi","firstName":"Yahia","middleName":null},{"crd":"4993390","suffix":null,"lastName":"CLARK","firstName":"ELIZABETH","middleName":"LANNON"},{"crd":"6358237","suffix":null,"lastName":"CLARKE","firstName":"AARON","middleName":"WAYNE"},{"crd":"7916176","suffix":null,"lastName":"Downey","firstName":"Andrew","middleName":"Tyler"},{"crd":"4912079","suffix":null,"lastName":"MORTON","firstName":"DAVID","middleName":"KALANI"},{"crd":"6885315","suffix":null,"lastName":"O'Neill","firstName":"David","middleName":"John"},{"crd":"8214883","suffix":null,"lastName":"Thomas","firstName":"Eric","middleName":"Eugene"}],"total":7,"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":"2021-03-12","regulatoryAum":199558687,"clients":314,"employees":7,"offices":2},{"filedOn":"2022-03-17","regulatoryAum":240298479,"clients":338,"employees":7,"offices":2},{"filedOn":"2023-06-06","regulatoryAum":228794696,"clients":332,"employees":8,"offices":3},{"filedOn":"2024-06-04","regulatoryAum":280611297,"clients":335,"employees":8,"offices":3},{"filedOn":"2025-03-27","regulatoryAum":334741601,"clients":335,"employees":7,"offices":3},{"filedOn":"2026-06-09","regulatoryAum":407976663,"clients":350,"employees":8,"offices":3}],"secFileNumber":"801-114336","legalName":"Heritage Financial, LLC","displayName":"Heritage Financial","slug":"heritage-financial-285149","website":"https://heritagefinancial.com/","classification":{"segment":"individuals","segmentLabel":"Wealth management","type":"independent_wealth_manager","typeLabel":"RIA","feeDisclosure":"full"},"founded":"2016","organization":"Virginia limited liability company","fiscalYearEnd":"December","headquarters":{"street":"7001 Heritage Village Plaza, Suite 190","city":"Gainesville","state":"VA","stateName":"Virginia","country":"United States","postalCode":"20155"},"tradeNames":[],"registration":{"secApproved":"26 November 2018","noticeFilings":null,"latestNoticeFiling":null},"wealthAumPerClient":1073675.877142857,"staff":{"employees":8,"advisory":7,"brokerDealerReps":0,"insuranceAgents":1,"promoters":0},"aum":{"regulatory":407976663,"discretionary":364796282,"discretionaryAccounts":1369,"nonDiscretionary":43180381,"nonDiscretionaryAccounts":138,"wrapProgram":null,"nonUsClientsPct":0,"nonAumClients":4},"clientTypes":[{"label":"Individuals (other than HNW)","clients":218,"regulatoryAum":71934175},{"label":"High-net-worth individuals","clients":132,"regulatoryAum":303852382},{"label":"Pension and profit-sharing plans","clients":null,"fewerThan5":true,"regulatoryAum":26063372},{"label":"Charitable organizations","clients":null,"fewerThan5":true,"regulatoryAum":6126734}],"feePrograms":[{"role":"main","program":"Asset Management","feeBasis":"range","fee_tiers":null,"sourceUrl":"https://files.adviserinfo.sec.gov/IAPD/Content/Common/crd_iapd_Brochure.aspx?BRCHR_VRSN_ID=1047752","versionId":1047752,"ratePeriod":"annual","fee_billing":"advance","submittedOn":"2026-06-09","documentName":"2026-06-09 HERITAGE FINANCIAL FORM ADV PART 2","fee_rate_low":0.3,"fee_rate_high":1.5,"fee_negotiable":true,"minimum_account":null,"feeMinimumPeriod":null,"fee_minimum_annual":null},{"role":"other","program":"Stand-alone financial planning","summary":"Stand-alone financial planning is a negotiable fixed fee of $1,000 to $20,000, or $475 an hour at the firm's discretion.","sourceUrl":"https://files.adviserinfo.sec.gov/IAPD/Content/Common/crd_iapd_Brochure.aspx?BRCHR_VRSN_ID=1047752","versionId":1047752,"submittedOn":"2026-06-09","documentName":"2026-06-09 HERITAGE FINANCIAL FORM ADV PART 2"}],"brochureCoverage":{"scope":"sec_inventory","status":"reviewed","checkedAt":"2026-10-22T10:15:30.096044+00:00","documents":[{"name":"2026-06-09 HERITAGE FINANCIAL FORM ADV PART 2","status":"read","sourceUrl":"https://files.adviserinfo.sec.gov/IAPD/Content/Common/crd_iapd_Brochure.aspx?BRCHR_VRSN_ID=1047752","versionId":1047752,"submittedOn":"2026-06-09"}]},"custodians":[{"name":"Charles Schwab & Co., Inc.","shortName":"Charles Schwab","location":"Westlake, TX","smaAssets":355167160},{"name":"Capital Bank and Trust Company","shortName":"Capital Bank and Trust","location":"Irvine, CA","smaAssets":43088885}],"custodyNote":"Heritage Financial has custody of $153M for 218 clients.","otherCustodians":[],"leadership":[{"name":"Elizabeth Clark","title":"Principal, Chief Compliance Officer, Chief Operations Officer, Member","crd":"4993390"},{"name":"David Morton","title":"Principal, CEO, Member","crd":"4912079"}],"ownership":[{"label":"David Morton","detail":"Principal, ceo, member in the 50% to 75% ownership band and a control person, since October 2016."},{"label":"Elizabeth Clark","detail":"Principal, chief compliance officer, chief operations officer, member in the 25% to 50% ownership band and a control person, since October 2016."}],"branchOffices":null,"filedOffices":{"otherThanPrincipal":2,"privateResidences":2},"listedOfficeAddresses":1,"foreignOffices":[],"officesByState":[{"state":"Virginia","offices":1,"addresses":[{"street":"7001 Heritage Village Plaza, Suite 190","city":"Gainesville","headquarters":true}]}],"brochureServices":["insurance"],"advFacts":{"source":{"file":"ia100226.zip","asOf":"2 October 2026"},"telephone":"703-754-1233","stateRegisteredReps":7,"otherAdviserReps":0,"compensation":["A percentage of assets under management","Hourly charges","Fixed fees (other than subscription fees)"],"activities":["Financial planning services","Portfolio management for individuals and/or small businesses","Selection of other advisers (including private fund managers)"],"financialPlanningClients":"251-500","assetMix":[{"label":"Exchange-traded equity securities","percent":7},{"label":"U.S. government/agency bonds","percent":1},{"label":"Securities issued by registered investment companies or business development companies","percent":87},{"label":"Cash and cash equivalents","percent":3},{"label":"Other","percent":2,"detail":"Variable Annuities & Opportunity Zone Products"}],"privateFunds":0},"sources":{"adv1FilingDate":"9 June 2026","adv1Url":"https://reports.adviserinfo.sec.gov/reports/ADV/285149/PDF/285149.pdf","brochureDate":"9 June 2026","brochureUrl":"https://files.adviserinfo.sec.gov/IAPD/Content/Common/crd_iapd_Brochure.aspx?BRCHR_VRSN_ID=1047752","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 Heritage Financial have?","answer":"Heritage Financial has 350 clients and manages $408 million for them, as of June 2026. They include 218 individual clients and 132 high-net-worth individuals.","source":"Form ADV Part 1A, Items 5.D and 5.F, filed 9 June 2026","sourceRef":{"doc":"adv1","section":"employees"}},{"question":"What services does Heritage Financial offer?","answer":"Heritage Financial provides financial planning, portfolio management for individuals and small businesses, selecting other managers, 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 Heritage Financial charge?","answer":"Heritage Financial charges 0.30%–1.50% a year for its Asset Management. The fee is billed in advance and is negotiable.","source":"2026-06-09 HERITAGE FINANCIAL FORM ADV PART 2, filed 9 June 2026","sourceRef":{"doc":"brochure","section":"fees"}},{"question":"Which custodians does Heritage Financial use?","answer":"Heritage Financial’s separately managed account assets are held at Charles Schwab & Co., Inc. (Westlake, TX), with $355M and Capital Bank and Trust Company (Irvine, CA), with $43.1M. Only custodians holding at least a tenth of those assets are named.","source":"Form ADV Part 1A, Schedule D, Section 5.K.(3), filed 9 June 2026","sourceRef":{"doc":"adv1","section":"custodians"}},{"question":"How many financial advisors does Heritage Financial have?","answer":"Heritage Financial has 7 investment adviser representatives registered with state securities authorities, out of 8 employees, and 7 perform investment advisory functions. 0 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","sourceRef":{"doc":"adv1","section":"employees"}},{"question":"What does Heritage Financial invest in?","answer":"At the end of its last fiscal year, Heritage Financial’s separately managed accounts held 87% registered funds (mutual funds, ETFs, BDCs), 7% exchange-traded equities, 3% cash and equivalents, 2% other and 1% U.S. government and agency bonds. The 2% other category is described as: Variable Annuities & Opportunity Zone Products.","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 Heritage Financial?","answer":"Heritage Financial’s direct owners are David Morton (50% to 75%) and Elizabeth Clark (25% to 50%).","source":"Form ADV Part 1A, Schedules A and B, filed 9 June 2026","sourceRef":{"doc":"adv1","section":"scheduleA"}},{"question":"How does Heritage Financial get paid?","answer":"Heritage Financial 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","sourceRef":{"doc":"adv1","section":"employees"}},{"question":"How do I contact Heritage Financial?","answer":"Heritage Financial’s main office is at 7001 Heritage Village Plaza, Suite 190, Gainesville, VA 20155. Its phone number is 703-754-1233. Its website is heritagefinancial.com.","source":"Form ADV Part 1A, Item 1.F, filed 9 June 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."}