Highland Financial Advisors provides financial planning, portfolio management for individuals and small businesses, portfolio management for institutions, pension consulting, educational seminars, and divorce planning. Financial planning was provided to 251–500 clients last fiscal year.
Highland Financial Advisors reports 361 clients. They include 189 individual clients, 139 high-net-worth individuals, and 33 pension and profit-sharing plans. Of its assets, 100.0% ($640M across 1,151 accounts) are managed with discretion. It advised 1 client without assets under management last fiscal year.
| Client type | Clients | Assets |
|---|---|---|
| Individuals (other than HNW) | 52% | 11% |
| High-net-worth individuals | 39% | 80% |
| Pension and profit-sharing plans | 9% | 9% |
| Charitable organizations | Fewer than 5 | <1% |
Client shares use reported counts. Client types without a reported count are excluded from that total.
Client breakdown and activity details
| Client type | Clients | Regulatory AUM | AUM share | Avg. per client |
|---|---|---|---|---|
| Individuals (other than HNW) | 189 | $70.7M | 11.0% | $374K |
| High-net-worth individuals | 139 | $510M | 79.7% | $3.67M |
| Pension and profit-sharing plans | 33 | $56M | 8.7% | $1.7M |
| Charitable organizations | Fewer than 5 | $3.18M | 0.5% | — |
| Total | 361 | $640M | 100% | — |
- Clients
- 189
- Regulatory AUM
- $70.7M
- AUM share
- 11.0%
- Avg. per client
- $374K
- Clients
- 139
- Regulatory AUM
- $510M
- AUM share
- 79.7%
- Avg. per client
- $3.67M
- Clients
- 33
- Regulatory AUM
- $56M
- AUM share
- 8.7%
- Avg. per client
- $1.7M
- Clients
- Fewer than 5
- Regulatory AUM
- $3.18M
- AUM share
- 0.5%
- Avg. per client
- —
Total
- Clients
- 361
- Regulatory AUM
- $640M
- 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
- 0
- Financial planning clients last fiscal year
- 251–500
Highland Financial Advisors is paid through a percentage of assets under management and fixed fees (other than subscription fees). The reviewed brochures do not disclose an asset-based fee rate. Read the SEC-filed brochure. The brochure also prices 2 other services, listed under fee details.
Fee details and sources
Other fees
- Before and Beyond Divorce
- Education service priced at $2,000 in total for four parts, paid 50% up front and the balance before the fourth part.
- Investment Management Services
- Investment management without wealth management is billed at 0.15% to 0.80% of assets under management annually, quarterly in advance.
Reed Fraasa owns 75% or more of Highland Financial Advisors. The leadership team of Highland Financial Advisors includes Chief Investment Officer Reed Fraasa. It has 12 employees, 7 of them in advisory roles.
Leadership
- Reed FraasaManaging Member, Chief Compliance Officer, Chief Investment Officer
- Edward LeachMember
- AnnaMarie MockMember
Investment adviser representatives
8 representatives listed in the SEC register as of 9 October 2026.
- Joey Kenneth Casolaro
- Reed Charles Fraasa
- Sean Patrick Gallagher
- Joseph Vincent Goldy
- Gary Henry Hirsh
- Edward J Leach
- Lonniece McDonald
- AnnaMarie Mock
Staff
- 12 employees
- 7 in advisory functions
- 7 state-registered reps
- 1 soliciting firm
- Owns 75% or more of Highland Financial Advisors, LLC
Reed Fraasa
Control person · since August 1996
- Owns 10% to 25% of Highland Financial Advisors, LLC
Edward Leach
since March 2018
- Owns 5% to 10% of Highland Financial Advisors, LLC
AnnaMarie Mock
since August 2023
Highland Financial Advisors’ regulatory assets grew 1.8× from $363M (June 2021) to $640M (September 2026); clients rose from 183 to 361 and employees from 7 to 12.
Figures from each annual filing
| Filed | Regulatory AUM | Clients | Employees | Offices |
|---|---|---|---|---|
| September 2026 | $640M | 361 | 12 | 1 |
| March 2025 | $504M | 318 | 12 | 1 |
| March 2024 | $430M | 294 | 12 | 1 |
| March 2023 | $333M | 233 | 11 | 1 |
| March 2022 | $378M | 224 | 7 | 1 |
| June 2021 | $363M | 183 | 7 | 1 |
Besides its headquarters, Highland Financial Advisors has 0 offices, with 1 listed address in New Jersey.
New Jersey · 1 listed address
- 1680 Route 23, Suite 210, WayneHQ
Contact and registration details
- Legal name
- Highland Financial Advisors, LLC
- Headquarters
- 1680 Route 23, Suite 210, Wayne, NJ 07470
- Website
- highlandplanning.com
- Phone
- 973-557-2933
- @highland-financial-advisors-llc
- SEC file
- 801-64369
- Founded
- 1996
- Structure
- New Jersey LLC
- Fiscal year end
- December
Highland Financial Advisors uses Charles Schwab ($626M) as custodian for its separately managed accounts. Highland Financial Advisors has custody of $9.74M in client assets for 1 client.
- Charles SchwabCharles Schwab & Co., Inc. · Westlake, TX · $626M100%
At year end, Highland Financial Advisors’ separately managed accounts were mostly in funds (85%). Its reported 13F holdings for the quarter ended 30 June 2026 total $455M across 73 positions; the largest are SPDR Series Trust (10.2%), Invesco Exch Traded FD TR II (10.0%) and American Centy ETF TR (9.3%).
What the accounts hold
- Stocks9%
- Funds85%
- Registered funds75%
- Pooled vehicles10%
- Cash6%
Reported 13F holdings
- $455M
- Reported 13F value
- 73
- Positions
- 72.1%
- In the 10 largest
- +20.0%
- Value vs. prior quarter
- SPDR Series Trust · State Street Spd10.2%
- Invesco Exch Traded FD TR II · Nasdaq 100 ETF10.0%
- American Centy ETF TR · US EQT ETF9.3%
- Dimensional ETF Trust · US Core EQT Mkt9.0%
- Vanguard Scottsdale Fds · Vng Rus1000grw8.4%
- American Centy ETF TR · Intl EQT ETF7.9%
- American Centy ETF TR · US Sml CP Valu5.5%
- American Centy ETF TR · Avantis Core FI5.4%
- American Centy ETF TR · Avantis Respon U3.4%
- iShares TR · Rus 1000 Grw ETF2.9%
Together, the ten largest are 72.1% of reported value.
How many clients does Highland Financial Advisors have?
Highland Financial Advisors has 361 clients and manages $640 million for them, as of September 2026. They include 189 individual clients, 139 high-net-worth individuals, and 33 pension and profit-sharing plans.
Source: Form ADV Part 1A, Items 5.D and 5.F, filed 18 September 2026
What services does Highland Financial Advisors offer?
Highland Financial Advisors provides financial planning, portfolio management for individuals and small businesses, portfolio management for institutions, pension consulting, educational seminars, and divorce planning.
Source: Form ADV Part 1A, Item 5.G, from the SEC's 2 October 2026 data file; Part 2A brochure, Item 4
Which custodians does Highland Financial Advisors use?
Highland Financial Advisors’ separately managed account assets are held at Charles Schwab & Co., Inc. (Westlake, TX), with $626M. Only custodians holding at least a tenth of those assets are named.
Source: Form ADV Part 1A, Schedule D, Section 5.K.(3), filed 18 September 2026
How many financial advisors does Highland Financial Advisors have?
Highland Financial Advisors has 7 investment adviser representatives registered with state securities authorities, out of 12 employees, and 7 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 Highland Financial Advisors invest in?
At the end of its last fiscal year, Highland Financial Advisors’ separately managed accounts held 75% registered funds (mutual funds, ETFs, BDCs), 10% pooled vehicles (private funds and similar), 9% exchange-traded equities and 6% 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 Highland Financial Advisors?
Highland Financial Advisors’ direct owners are Reed Fraasa (75% or more), Edward Leach (10% to 25%) and AnnaMarie Mock (5% to 10%).
Source: Form ADV Part 1A, Schedules A and B, filed 18 September 2026
How does Highland Financial Advisors get paid?
Highland Financial Advisors 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 Highland Financial Advisors?
Highland Financial Advisors’ main office is at 1680 Route 23, Suite 210, Wayne, NJ 07470. Its phone number is 973-557-2933. Its website is highlandplanning.com.