{"url":"https://nivawealth.com/firms/talon-298714","iapdUrl":"https://adviserinfo.sec.gov/firm/summary/298714","regulatoryAum":1060316193,"crd":"298714","adviserRoster":{"asOf":"2026-10-09","items":[{"crd":"1393256","suffix":null,"lastName":"BAILEY","firstName":"JAMES","middleName":"HERBERT"},{"crd":"5960205","suffix":null,"lastName":"Bentley","firstName":"Bryan","middleName":"Joseph"},{"crd":"7222031","suffix":null,"lastName":"Fusco","firstName":"Anastasia","middleName":"Marie"},{"crd":"2290021","suffix":null,"lastName":"JANSEN","firstName":"JOHN","middleName":"MARTINI"},{"crd":"7860148","suffix":null,"lastName":"Jones","firstName":"Matthew","middleName":"Edwin"},{"crd":"6607757","suffix":null,"lastName":"Kochera","firstName":"Benjamin","middleName":"G"},{"crd":"4885592","suffix":"JR.","lastName":"LESTER","firstName":"ROBERT","middleName":"MICHAEL"},{"crd":"6582644","suffix":null,"lastName":"Newell","firstName":"John","middleName":"William"},{"crd":"7817263","suffix":null,"lastName":"Rodriguez","firstName":"Rennie","middleName":"Joyce"}],"total":9,"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":"2021-06-07","regulatoryAum":164921408,"clients":586,"employees":8,"offices":5},{"filedOn":"2022-04-27","regulatoryAum":774283111,"clients":3802,"employees":18,"offices":14},{"filedOn":"2023-06-15","regulatoryAum":826440898,"clients":1971,"employees":22,"offices":15},{"filedOn":"2024-05-29","regulatoryAum":843286851,"clients":1981,"employees":22,"offices":15},{"filedOn":"2025-07-09","regulatoryAum":876912760,"clients":2011,"employees":22,"offices":14},{"filedOn":"2026-09-30","regulatoryAum":1060316193,"clients":1921,"employees":22,"offices":14}],"secFileNumber":"801-114857","legalName":"Talon LLC","displayName":"Talon","slug":"talon-298714","website":"https://talonwm.com/","classification":{"segment":"individuals","segmentLabel":"Wealth management","type":"independent_wealth_manager","typeLabel":"RIA","feeDisclosure":"full"},"linkedinUrl":"https://Linkedin.com/company/talon-wealth-man","founded":null,"organization":"Puerto Rico limited liability company","fiscalYearEnd":"December","headquarters":{"street":"151 Calle De San Francisco, Suite 200","city":"San Juan","state":"PR","stateName":"Puerto Rico","country":"United States","postalCode":"00901"},"tradeNames":["Blue Collar Dollar","Talon Private Wealth","Talon Wealth","Talon Wealth Management"],"registration":{"secApproved":"15 March 2019","noticeFilings":null,"latestNoticeFiling":null},"wealthAumPerClient":549457.0635085893,"staff":{"employees":22,"advisory":8,"brokerDealerReps":0,"insuranceAgents":7,"promoters":0},"aum":{"regulatory":1060316193,"discretionary":796145805,"discretionaryAccounts":7916,"nonDiscretionary":264170388,"nonDiscretionaryAccounts":3273,"wrapProgram":null,"nonUsClientsPct":0,"nonAumClients":93},"clientTypes":[{"label":"Individuals (other than HNW)","clients":1823,"regulatoryAum":865995998},{"label":"High-net-worth individuals","clients":98,"regulatoryAum":189511021},{"label":"Corporations and other businesses","clients":null,"fewerThan5":true,"regulatoryAum":4809174}],"feePrograms":[{"role":"main","program":"Portfolio Management","feeBasis":"ceiling","fee_tiers":null,"sourceUrl":"https://files.adviserinfo.sec.gov/IAPD/Content/Common/crd_iapd_Brochure.aspx?BRCHR_VRSN_ID=1045872","versionId":1045872,"ratePeriod":"annual","fee_billing":"arrears","submittedOn":"2026-05-21","documentName":"TALON - FORM ADV PART 2A BROCHURE","fee_rate_low":null,"fee_rate_high":2,"fee_negotiable":true,"minimum_account":25000,"feeMinimumPeriod":null,"fee_minimum_annual":null},{"role":"other","program":"Financial planning and consulting","summary":"Financial planning and consulting is billed at $250 an hour, or as a fixed fee with a $1,500 minimum; the fee is negotiable.","sourceUrl":"https://files.adviserinfo.sec.gov/IAPD/Content/Common/crd_iapd_Brochure.aspx?BRCHR_VRSN_ID=1045872","versionId":1045872,"submittedOn":"2026-05-21","documentName":"TALON - FORM ADV PART 2A BROCHURE"}],"brochureCoverage":{"scope":"sec_inventory","status":"reviewed","checkedAt":"2026-10-22T05:25:50.32635+00:00","documents":[{"name":"TALON - FORM ADV PART 2A BROCHURE","status":"read","sourceUrl":"https://files.adviserinfo.sec.gov/IAPD/Content/Common/crd_iapd_Brochure.aspx?BRCHR_VRSN_ID=1045872","versionId":1045872,"submittedOn":"2026-05-21"}]},"custodians":[{"name":"Fidelity Distributors Company LLC","shortName":"Fidelity","location":"Smithfield, RI","smaAssets":711662031},{"name":"Charles Schwab & Co., Inc.","shortName":"Charles Schwab","location":"San Francisco, CA","smaAssets":306357409},{"name":"Altruist Financial LLC","shortName":"Altruist","location":"Culver City, CA","smaAssets":40073584},{"name":"Nationwide","shortName":"Nationwide","location":"Columbus, OH","smaAssets":2223169}],"custodyNote":"Talon does not have custody of client assets.","otherCustodians":[],"leadership":[{"name":"Robert Lester","title":"Managing Member, Chief Compliance Officer","crd":"4885592"}],"ownership":[{"label":"Robert Lester","detail":"Managing member, chief compliance officer in the 75% or more ownership band and a control person, since February 2019."}],"branchOffices":null,"filedOffices":{"otherThanPrincipal":13,"privateResidences":0},"listedOfficeAddresses":14,"foreignOffices":[],"officesByState":[{"state":"California","offices":3,"addresses":[{"street":"915 Highland Pointe DR.","city":"Roseville"},{"street":"9245 Laguna Springs DR","city":"Elk Grove"},{"street":"620 Coolidge DR., Suite 220","city":"Folsom"}]},{"state":"Florida","offices":7,"addresses":[{"street":"109 Nature Walk Pkwy #102","city":"Saint Augustine"},{"street":"602 S Maine St","city":"Gainesville"},{"street":"360 Central Ave St.","city":"St. Petersburg"},{"street":"100 Ashley Drive S.","city":"Tampa"},{"street":"781 Ciara Creek Cove","city":"Longwood"},{"street":"11974 CR 101, Suite 103","city":"The Villages"},{"street":"50 Leanni Way","city":"Palm Coast"}]},{"state":"Michigan","offices":1,"addresses":[{"street":"250 Monroe Ave NW","city":"Grand Rapids"}]},{"state":"Nebraska","offices":1,"addresses":[{"street":"3526 N 163rd Plaza","city":"Omaha"}]},{"state":"Oklahoma","offices":1,"addresses":[{"street":"8913 S. Yale Ave","city":"Tulsa"}]},{"state":"Puerto Rico","offices":1,"addresses":[{"street":"151 Calle De San Francisco, Suite 200","city":"San Juan","headquarters":true}]}],"advFacts":{"source":{"file":"ia100226.zip","asOf":"2 October 2026"},"telephone":"352-751-3200","stateRegisteredReps":8,"otherAdviserReps":7,"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","Pension consulting services","Selection of other advisers (including private fund managers)"],"financialPlanningClients":"0","assetMix":[{"label":"Exchange-traded equity securities","percent":13},{"label":"Non-investment grade corporate bonds","percent":13},{"label":"Securities issued by registered investment companies or business development companies","percent":66},{"label":"Cash and cash equivalents","percent":7}],"privateFunds":0},"sources":{"adv1FilingDate":"30 September 2026","adv1Url":"https://reports.adviserinfo.sec.gov/reports/ADV/298714/PDF/298714.pdf","brochureDate":"21 May 2026","brochureUrl":"https://files.adviserinfo.sec.gov/IAPD/Content/Common/crd_iapd_Brochure.aspx?BRCHR_VRSN_ID=1045872","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 Talon have?","answer":"Talon has 1,921 clients and manages $1.06 billion for them, as of September 2026. They include 1,823 individual clients and 98 high-net-worth individuals.","source":"Form ADV Part 1A, Items 5.D and 5.F, filed 30 September 2026","sourceRef":{"doc":"adv1","section":"employees"}},{"question":"What services does Talon offer?","answer":"Talon 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","sourceRef":{"doc":"adv1","section":"employees"}},{"question":"How much does Talon charge?","answer":"Talon charges up to 2.00% a year for its Portfolio Management. The fee is billed in arrears, is negotiable and requires an account of at least $25,000.","source":"TALON - FORM ADV PART 2A BROCHURE, filed 21 May 2026","sourceRef":{"doc":"brochure","section":"fees"}},{"question":"Which custodians does Talon use?","answer":"Talon’s separately managed account assets are held at Fidelity Distributors Company LLC (Smithfield, RI), with $712M, Charles Schwab & Co., Inc. (San Francisco, CA), with $306M, Altruist Financial LLC (Culver City, CA), with $40.1M and Nationwide (Columbus, OH), with $2.22M. Only custodians holding at least a tenth of those assets are named.","source":"Form ADV Part 1A, Schedule D, Section 5.K.(3), filed 30 September 2026","sourceRef":{"doc":"adv1","section":"custodians"}},{"question":"How many financial advisors does Talon have?","answer":"Talon has 8 investment adviser representatives registered with state securities authorities, out of 22 employees, and 8 perform investment advisory functions. 0 employees are registered representatives of a broker-dealer and 7 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 Talon invest in?","answer":"At the end of its last fiscal year, Talon’s separately managed accounts held 66% registered funds (mutual funds, ETFs, BDCs), 13% exchange-traded equities, 13% high-yield corporate bonds and 7% cash and equivalents.","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":"Does Talon have a minimum investment?","answer":"Yes, Talon’s minimum account size for its Portfolio Management is $25K.","source":"TALON - FORM ADV PART 2A BROCHURE, filed 21 May 2026","sourceRef":{"doc":"brochure","section":"fees"}},{"question":"Who owns Talon?","answer":"Talon’s direct owner is Robert Lester (75% or more).","source":"Form ADV Part 1A, Schedules A and B, filed 30 September 2026","sourceRef":{"doc":"adv1","section":"scheduleA"}},{"question":"How does Talon get paid?","answer":"Talon 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 Talon?","answer":"Talon’s main office is at 151 Calle De San Francisco, Suite 200, San Juan, PR 00901. Its phone number is 352-751-3200. Its website is talonwm.com.","source":"Form ADV Part 1A, Item 1.F, filed 30 September 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."}