Hughes Financial Services provides financial planning, portfolio management for individuals and small businesses, portfolio management for institutions, selecting other managers, estate planning, insurance, and tax planning. Financial planning was provided to 700 clients last fiscal year.
Hughes Financial Services reports 840 clients. They include 557 individual clients, 282 high-net-worth individuals and 1 charitable organization. Of its assets, 98.4% ($748M across 27 accounts) are managed with discretion; $12.1M across 2,300 accounts are not. A wrap fee program the firm both sponsors and manages holds $760M.
| Client type | Clients | Assets |
|---|---|---|
| Individuals (other than HNW) | 66% | 24% |
| High-net-worth individuals | 34% | 76% |
| Charitable organizations | <1% | <1% |
Client breakdown and activity details
| Client type | Clients | Regulatory AUM | AUM share | Avg. per client |
|---|---|---|---|---|
| Individuals (other than HNW) | 557 | $186M | 24.4% | $333K |
| High-net-worth individuals | 282 | $574M | 75.5% | $2.04M |
| Charitable organizations | Fewer than 5 | $269K | 0.0% | $269K |
| Total | 840 | $760M | 100% | — |
- Clients
- 557
- Regulatory AUM
- $186M
- AUM share
- 24.4%
- Avg. per client
- $333K
- Clients
- 282
- Regulatory AUM
- $574M
- AUM share
- 75.5%
- Avg. per client
- $2.04M
- Clients
- Fewer than 5
- Regulatory AUM
- $269K
- AUM share
- 0.0%
- Avg. per client
- $269K
Total
- Clients
- 840
- Regulatory AUM
- $760M
- AUM share
- 100%
- Avg. per client
- —
- 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
- 700
Hughes Financial Services charges 0.50%–1.15% a year for its HFS Institutional Management. The fee is billed in advance and is negotiable.
Fee details and sources
Bluespring Wealth Partners, LLC owns 75% or more of Hughes Financial Services and is in turn owned by Kestra Financial, Inc. (75% or more). The leadership team of Hughes Financial Services includes Chief Compliance Officer Jo Ann Weinhardt. It has 12 employees, 6 of them in advisory roles.
Leadership
- Jo Ann WeinhardtChief Compliance Officer
Daniel HughesManaging Member
Paul HughesManaging Member
Patrick HughesManaging Member- Berkeley MeredithManaging Member
Investment adviser representatives
9 representatives listed in the SEC register as of 9 October 2026.
Staff
- 12 employees
- 6 in advisory functions
- 7 state-registered reps
- Owns 75% or more of Hughes Financial Services, LLC
Bluespring Wealth Partners, LLC
Control person · since December 2023
- Owns 75% or more of Bluespring Wealth Partners, LLC
Kestra Financial, Inc.
Control person · since April 2017
- Owns 75% or more of Kestra Financial, Inc.
Kestra Advisor Services Holdings C, Inc.
Control person · since October 2014
- Owns 75% or more of Kestra Advisor Services Holdings C, Inc.
Kestra Advisor Services Holdings B, Inc.
Control person · since October 2014
- Owns 75% or more of Kestra Advisor Services Holdings B, Inc.
Kestra Advisor Services Holdings A, Inc.
Control person · since October 2014
- Owns 75% or more of Hughes Financial Services, LLC
Kingfisherholding A, Inc.
Control person · since June 2019
- Owns 75% or more of Kingfisherholding A, Inc.
Kingfisher Holding L.P.
Control person · since June 2019
- Owns 75% or more of Kingfisher Holding L.P.
Kingfisher Topco Holdings, LP
Control person · since February 2025
- Owns 25% to 50% of Kingfisher Topco Holdings, LP
Ohcp VI Enzo Aggregator, L.P.
Control person · since February 2025
- Owns 25% to 50% of Kingfisher Topco Holdings, LP
T-IX Kraken Co-Invest, LP
Control person · since February 2025
Kingfisher Topco Holdings GP, LLC
General partner · Control person · since February 2025
Hughes Financial Services’ regulatory assets grew 2.0× from $378M (April 2021) to $760M (July 2026); clients rose from 556 to 840 and employees from 8 to 12.
Figures from each annual filing
| Filed | Regulatory AUM | Clients | Employees | Offices |
|---|---|---|---|---|
| July 2026 | $760M | 840 | 12 | 1 |
| July 2025 | $616M | 770 | 10 | 1 |
| July 2024 | $510M | 716 | 10 | 1 |
| March 2023 | $400M | 676 | 10 | 1 |
| April 2022 | $433M | 613 | 9 | 1 |
| April 2021 | $378M | 556 | 8 | 1 |
Besides its headquarters, Hughes Financial Services has 0 offices, with 1 listed address in Virginia.
Virginia · 1 listed address
- 2201 Cooperative Way, Suite 150, HerndonHQ
Contact and registration details
- Legal name
- Hughes Financial Services, LLC
- Headquarters
- 2201 Cooperative Way, Suite 150, Herndon, VA 20171
- Website
- h4fs.com
- Phone
- 703-669-3660
- SEC file
- 801-80866
- Founded
- 2014
- Structure
- Virginia LLC
- Fiscal year end
- December
Hughes Financial Services uses Charles Schwab ($745M) as custodian for its separately managed accounts. Hughes Financial Services does not have custody of client assets.
- Charles SchwabCharles Schwab & Co., Inc. · Westlake, TX · $745M100%
At year end, Hughes Financial Services’ separately managed accounts were mostly in funds (91%). Its reported 13F holdings for the quarter ended 30 June 2026 total $755M across 1,839 positions; the largest are State Street SPDR Portfolio S&P 1500 Composite Stock Market ETF (20.8%), JPMORGAN Core Plus Bond ETF (10.1%) and JPMORGAN International Research Enhanced Equity ETF (9.9%).
What the accounts hold
- Stocks5%
- Funds91%
- Cash4%
Reported 13F holdings
- $755M
- Reported 13F value
- 1,839
- Positions
- 77.8%
- In the 10 largest
- +15.9%
- Value vs. prior quarter
- State Street SPDR Portfolio S&P 1500 Composite Stock Market ETFETF20.8%
- JPMORGAN Core Plus Bond ETFETF10.1%
- JPMORGAN International Research Enhanced Equity ETFETF9.9%
- JPMORGAN U.S. Quality Factor ETFETF9.7%
- iShares MSCI Emerging Markets EX China ETFETF8.8%
- JPMORGAN U.S. Tech Leaders ETFETF5.6%
- iShares Core Dividend Growth ETFETF4.9%
- JPMORGAN International Bond Opportunities FundETF3.2%
- State Street SPDR Portfolio Tips ETFETF2.8%
- State Street SPDR Portfolio Short Term Treasury ETFETF2.1%
Together, the ten largest are 77.8% of reported value.
How many clients does Hughes Financial Services have?
Hughes Financial Services has 840 clients and manages $760 million for them, as of July 2026. They include 557 individual clients, 282 high-net-worth individuals and 1 charitable organization.
Source: Form ADV Part 1A, Items 5.D and 5.F, filed 9 July 2026
What services does Hughes Financial Services offer?
Hughes Financial Services provides financial planning, portfolio management for individuals and small businesses, portfolio management for institutions, selecting other managers, estate planning, insurance, and tax planning.
Source: Form ADV Part 1A, Item 5.G, from the SEC's 2 October 2026 data file; Part 2A brochure, Item 4
How much does Hughes Financial Services charge?
Hughes Financial Services charges 0.50%–1.15% a year for its HFS Institutional Management. The fee is billed in advance and is negotiable.
Source: HUGHES FINANCIAL SERVICES, LLC APPENDIX I, filed 10 February 2026
Which custodians does Hughes Financial Services use?
Hughes Financial Services’ separately managed account assets are held at Charles Schwab & Co., Inc. (Westlake, TX), with $745M. 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 July 2026
How many financial advisors does Hughes Financial Services have?
Hughes Financial Services has 7 investment adviser representatives registered with state securities authorities, out of 12 employees, and 6 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 Hughes Financial Services invest in?
At the end of its last fiscal year, Hughes Financial Services’ separately managed accounts held 91% registered funds (mutual funds, ETFs, BDCs), 5% exchange-traded equities and 4% 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 Hughes Financial Services?
Hughes Financial Services is owned through a chain of holding companies by Kestra Advisor Services Holdings A, Inc., Ohcp VI Enzo Aggregator, L.P. and T-IX Kraken Co-Invest, LP. Its direct owners are Bluespring Wealth Partners, LLC (75% or more) and Kingfisherholding A, Inc. (75% or more).
Source: Form ADV Part 1A, Schedules A and B, filed 9 July 2026
How does Hughes Financial Services get paid?
Hughes Financial Services is paid through a percentage of assets under management. 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 Hughes Financial Services registered with the SEC?
Yes, Hughes Financial Services has been registered with the SEC as an investment adviser since 2 February 2015. Its CRD number is 173195 and its SEC file number is 801-80866.
Source: Form ADV Part 1A, Item 1, filed 9 July 2026; IAPD firm record
How do I contact Hughes Financial Services?
Hughes Financial Services’ main office is at 2201 Cooperative Way, Suite 150, Herndon, VA 20171. Its phone number is 703-669-3660. Its website is h4fs.com.