{"url":"https://nivawealth.com/firms/openair-financial-300362","iapdUrl":"https://adviserinfo.sec.gov/firm/summary/300362","regulatoryAum":318000000,"crd":"300362","adviserRoster":{"asOf":"2026-10-09","items":[{"crd":"6802076","suffix":null,"lastName":"Butler","firstName":"Jeffery","middleName":"Logan"},{"crd":"5931887","suffix":null,"lastName":"CALHOUN","firstName":"KENNETH","middleName":"AQUILLA"},{"crd":"5881621","suffix":null,"lastName":"FIELDS","firstName":"STEWART","middleName":"EMBRY"},{"crd":"5046284","suffix":null,"lastName":"LAWTON","firstName":"JONATHAN","middleName":"KENT"},{"crd":"5787134","suffix":null,"lastName":"MASSENBURG","firstName":"CHRIS","middleName":"R"},{"crd":"4004062","suffix":null,"lastName":"McBride","firstName":"Landon","middleName":"Wade"},{"crd":"6230904","suffix":null,"lastName":"OVERSTREET","firstName":"DENNIS","middleName":"RYAN"}],"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":"2023-04-06","regulatoryAum":107750000,"clients":331,"employees":5,"offices":6},{"filedOn":"2024-07-08","regulatoryAum":183000000,"clients":385,"employees":7,"offices":6},{"filedOn":"2025-02-19","regulatoryAum":280800000,"clients":1040,"employees":7,"offices":6},{"filedOn":"2026-08-26","regulatoryAum":318000000,"clients":860,"employees":7,"offices":6}],"secFileNumber":"801-127377","legalName":"Openair Financial, LLC","displayName":"Openair Financial","slug":"openair-financial-300362","website":"https://openairadvisers.com/","classification":{"segment":"individuals","segmentLabel":"Wealth management","type":"independent_wealth_manager","typeLabel":"RIA","feeDisclosure":"full"},"founded":null,"organization":"Texas limited liability company","fiscalYearEnd":"December","headquarters":{"street":"280 Miron Drive","city":"Southlake","state":"TX","stateName":"Texas","country":"United States","postalCode":"76092"},"tradeNames":[],"registration":{"secApproved":"24 February 2023","noticeFilings":null,"latestNoticeFiling":null},"wealthAumPerClient":369767.4418604651,"staff":{"employees":7,"advisory":7,"brokerDealerReps":0,"insuranceAgents":5,"promoters":0},"aum":{"regulatory":318000000,"discretionary":318000000,"discretionaryAccounts":1212,"nonDiscretionary":0,"nonDiscretionaryAccounts":0,"wrapProgram":null,"nonUsClientsPct":0,"nonAumClients":0},"clientTypes":[{"label":"Individuals (other than HNW)","clients":700,"regulatoryAum":103000000},{"label":"High-net-worth individuals","clients":160,"regulatoryAum":215000000}],"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=1056103","versionId":1056103,"ratePeriod":"annual","fee_billing":"advance","submittedOn":"2026-08-26","documentName":"ADV2A&2B SEC","fee_rate_low":0.8,"fee_rate_high":1.25,"fee_negotiable":true,"minimum_account":null,"feeMinimumPeriod":null,"fee_minimum_annual":null},{"role":"other","program":"Financial Planning","summary":"Financial planning is offered at a flat fee of $5,000, billed 50% in advance with the balance due on plan delivery.","sourceUrl":"https://files.adviserinfo.sec.gov/IAPD/Content/Common/crd_iapd_Brochure.aspx?BRCHR_VRSN_ID=1056103","versionId":1056103,"submittedOn":"2026-08-26","documentName":"ADV2A&2B SEC"}],"brochureCoverage":{"scope":"sec_inventory","status":"reviewed","checkedAt":"2026-10-22T10:35:24.783385+00:00","documents":[{"name":"ADV2A&2B SEC","status":"read","sourceUrl":"https://files.adviserinfo.sec.gov/IAPD/Content/Common/crd_iapd_Brochure.aspx?BRCHR_VRSN_ID=1056103","versionId":1056103,"submittedOn":"2026-08-26"}]},"custodians":[{"name":"Charles Schwab & Co., Inc.","shortName":"Charles Schwab","location":"Westlake, TX","smaAssets":310000000},{"name":"Fidelity","shortName":"Fidelity","location":"Boston, MA","smaAssets":8000000}],"custodyNote":"Openair Financial does not have custody of client assets.","otherCustodians":[],"leadership":[{"name":"Stewart Fields","title":"Chief Compliance Officer/Managing Member/Investment Advisor Representative","crd":"5881621"},{"name":"Jonathan Lawton","title":"Member/Investment Advisor Representative","crd":"5046284"},{"name":"Chris Massenburg","title":"Member/Investment Advisor Representative","crd":"5787134"}],"ownership":[{"label":"Stewart Fields","detail":"Chief compliance officer/managing member/investment advisor representative in the 25% to 50% ownership band and a control person, since January 2019."},{"label":"Jonathan Lawton","detail":"Member/investment advisor representative in the 25% to 50% ownership band and a control person, since May 2019."},{"label":"Chris Massenburg","detail":"Member/investment advisor representative in the 25% to 50% ownership band and a control person, since May 2019."}],"branchOffices":null,"filedOffices":{"otherThanPrincipal":5,"privateResidences":0},"listedOfficeAddresses":6,"foreignOffices":[],"officesByState":[{"state":"Texas","offices":5,"addresses":[{"street":"280 Miron Drive","city":"Southlake","headquarters":true},{"street":"2435 N. Central Expressway","city":"Richardson"},{"street":"1000 Texan Trail","city":"Grapevine"},{"street":"1131 W Yellowjacket Lane","city":"Rockwall"},{"street":"17000 Dallas Parkway","city":"Dallas"}]},{"state":"Utah","offices":1,"addresses":[{"street":"1275 E Fort Union Park Ave","city":"Midvale"}]}],"advFacts":{"source":{"file":"ia100226.zip","asOf":"2 October 2026"},"telephone":"214-233-6059","stateRegisteredReps":7,"otherAdviserReps":0,"compensation":["A percentage of assets under management","Fixed fees (other than subscription fees)"],"activities":["Financial planning services","Portfolio management for individuals and/or small businesses","Educational seminars/workshops"],"financialPlanningClients":"1-10","assetMix":[{"label":"Exchange-traded equity securities","percent":22},{"label":"U.S. government/agency bonds","percent":5},{"label":"U.S. state and local bonds","percent":5},{"label":"Investment grade corporate bonds","percent":2},{"label":"Securities issued by registered investment companies or business development companies","percent":52},{"label":"Securities issued by pooled investment vehicles (other than registered investment companies)","percent":1},{"label":"Cash and cash equivalents","percent":13}],"privateFunds":0},"sources":{"adv1FilingDate":"26 August 2026","adv1Url":"https://reports.adviserinfo.sec.gov/reports/ADV/300362/PDF/300362.pdf","brochureDate":"26 August 2026","brochureUrl":"https://files.adviserinfo.sec.gov/IAPD/Content/Common/crd_iapd_Brochure.aspx?BRCHR_VRSN_ID=1056103","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 Openair Financial have?","answer":"Openair Financial has 860 clients and manages $318 million for them, as of August 2026. They include 700 individual clients and 160 high-net-worth individuals.","source":"Form ADV Part 1A, Items 5.D and 5.F, filed 26 August 2026","sourceRef":{"doc":"adv1","section":"employees"}},{"question":"What services does Openair Financial offer?","answer":"Openair Financial provides financial planning, portfolio management for individuals and small businesses, and educational seminars.","source":"Form ADV Part 1A, Item 5.G, from the SEC's 2 October 2026 data file","sourceRef":{"doc":"adv1","section":"employees"}},{"question":"How much does Openair Financial charge?","answer":"Openair Financial charges 0.80%–1.25% a year for its Asset Management. The fee is billed in advance and is negotiable.","source":"ADV2A&2B SEC, filed 26 August 2026","sourceRef":{"doc":"brochure","section":"fees"}},{"question":"Which custodians does Openair Financial use?","answer":"Openair Financial’s separately managed account assets are held at Charles Schwab & Co., Inc. (Westlake, TX), with $310M and Fidelity (Boston, MA), with $8M. Only custodians holding at least a tenth of those assets are named.","source":"Form ADV Part 1A, Schedule D, Section 5.K.(3), filed 26 August 2026","sourceRef":{"doc":"adv1","section":"custodians"}},{"question":"How many financial advisors does Openair Financial have?","answer":"Openair Financial has 7 investment adviser representatives registered with state securities authorities, out of 7 employees, and 7 perform investment advisory functions. 0 employees are registered representatives of a broker-dealer and 5 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","sourceRef":{"doc":"adv1","section":"employees"}},{"question":"What does Openair Financial invest in?","answer":"At the end of its last fiscal year, Openair Financial’s separately managed accounts held 52% registered funds (mutual funds, ETFs, BDCs), 22% exchange-traded equities, 13% cash and equivalents, 5% U.S. government and agency bonds, 5% state and local bonds, 2% investment grade corporate bonds and 1% pooled vehicles (private funds and similar).","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 Openair Financial?","answer":"Openair Financial’s direct owners are Stewart Fields, Jonathan Lawton and Chris Massenburg, each holding 50% or less.","source":"Form ADV Part 1A, Schedules A and B, filed 26 August 2026","sourceRef":{"doc":"adv1","section":"scheduleA"}},{"question":"How does Openair Financial get paid?","answer":"Openair Financial 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","sourceRef":{"doc":"adv1","section":"employees"}},{"question":"How do I contact Openair Financial?","answer":"Openair Financial’s main office is at 280 Miron Drive, Southlake, TX 76092. Its phone number is 214-233-6059. Its website is openairadvisers.com.","source":"Form ADV Part 1A, Item 1.F, filed 26 August 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."}