{"url":"https://nivawealth.com/firms/tnl-asset-management-137419","iapdUrl":"https://adviserinfo.sec.gov/firm/summary/137419","regulatoryAum":139304000,"crd":"137419","adviserRoster":{"asOf":"2026-10-09","items":[{"crd":"5039931","suffix":null,"lastName":"LEBOR","firstName":"TODD","middleName":"NICHOLS"}],"total":1,"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":"2024-04-24","regulatoryAum":123500000,"clients":142,"employees":4,"offices":2},{"filedOn":"2025-02-13","regulatoryAum":130500000,"clients":145,"employees":4,"offices":2},{"filedOn":"2026-02-27","regulatoryAum":139304000,"clients":164,"employees":4,"offices":2}],"secFileNumber":"801-130346","legalName":"TNL Asset Management LLC","displayName":"TNL Asset Management","slug":"tnl-asset-management-137419","website":"https://snowballwm.com/","classification":{"segment":"individuals","segmentLabel":"Wealth management","type":"independent_wealth_manager","typeLabel":"RIA","feeDisclosure":"full"},"founded":null,"organization":"Colorado limited liability company","fiscalYearEnd":"December","headquarters":{"street":"3445 Penrose Place, Suite 130","city":"Boulder","state":"CO","stateName":"Colorado","country":"United States","postalCode":"80301"},"tradeNames":[],"registration":{"secApproved":"24 May 2024","noticeFilings":null,"latestNoticeFiling":null},"wealthAumPerClient":851438.2716049383,"staff":{"employees":4,"advisory":3,"brokerDealerReps":0,"insuranceAgents":0,"promoters":0},"aum":{"regulatory":139304000,"discretionary":139304000,"discretionaryAccounts":164,"nonDiscretionary":0,"nonDiscretionaryAccounts":0,"wrapProgram":null,"nonUsClientsPct":2,"nonAumClients":2},"clientTypes":[{"label":"Individuals (other than HNW)","clients":135,"regulatoryAum":73894000},{"label":"High-net-worth individuals","clients":27,"regulatoryAum":64039000},{"label":"Charitable organizations","clients":1,"fewerThan5":true,"regulatoryAum":1104000},{"label":"Corporations and other businesses","clients":1,"regulatoryAum":267000}],"feePrograms":[{"role":"main","program":"Tiered asset-based portfolio management fees","feeBasis":"range","fee_tiers":null,"sourceUrl":"https://files.adviserinfo.sec.gov/IAPD/Content/Common/crd_iapd_Brochure.aspx?BRCHR_VRSN_ID=1012941","versionId":1012941,"ratePeriod":"annual","fee_billing":"arrears","submittedOn":"2026-02-27","documentName":"ADV FORM 2A-2B","fee_rate_low":0.4,"fee_rate_high":1,"fee_negotiable":true,"minimum_account":null,"feeMinimumPeriod":null,"fee_minimum_annual":null},{"role":"other","program":"Financial Planning","summary":"Financial planning is a fixed fee negotiated between $2,000 and $5,000, billed 50% in advance, or an hourly fee of $250 billed in arrears.","sourceUrl":"https://files.adviserinfo.sec.gov/IAPD/Content/Common/crd_iapd_Brochure.aspx?BRCHR_VRSN_ID=1012941","versionId":1012941,"submittedOn":"2026-02-27","documentName":"ADV FORM 2A-2B"},{"role":"other","program":"Wealth Management","summary":"Wealth management is a fixed fee, negotiated in advance, that ranges between $500 and $2,000 depending on complexity and is paid annually or semi-annually in arrears.","sourceUrl":"https://files.adviserinfo.sec.gov/IAPD/Content/Common/crd_iapd_Brochure.aspx?BRCHR_VRSN_ID=1012941","versionId":1012941,"submittedOn":"2026-02-27","documentName":"ADV FORM 2A-2B"}],"brochureCoverage":{"scope":"sec_inventory","status":"reviewed","checkedAt":"2026-10-22T13:20:51.409524+00:00","documents":[{"name":"ADV FORM 2A-2B","status":"read","sourceUrl":"https://files.adviserinfo.sec.gov/IAPD/Content/Common/crd_iapd_Brochure.aspx?BRCHR_VRSN_ID=1012941","versionId":1012941,"submittedOn":"2026-02-27"}]},"custodians":[{"name":"Altruist Financial LLC","shortName":"Altruist","location":"Culver City, CA","smaAssets":3315000},{"name":"U.S. Bancorp Investments, Inc.","shortName":"U.S. Bancorp Investments","location":"Minneapolis, MN","smaAssets":16658000},{"name":"Charles Schwab & Co., Inc.","shortName":"Charles Schwab","location":"San Francisco, CA","smaAssets":115896000}],"custodyNote":"TNL Asset Management does not have custody of client assets.","otherCustodians":[],"leadership":[{"name":"Todd Lebor","title":"CEO/CCO","crd":"5039931"}],"ownership":[{"label":"Todd Lebor","detail":"Ceo/cco in the 75% or more ownership band and a control person, since September 2005."}],"branchOffices":null,"filedOffices":{"otherThanPrincipal":1,"privateResidences":1},"listedOfficeAddresses":1,"foreignOffices":[],"officesByState":[{"state":"Colorado","offices":1,"addresses":[{"street":"3445 Penrose Place, Suite 130","city":"Boulder","headquarters":true}]}],"advFacts":{"source":{"file":"ia100226.zip","asOf":"2 October 2026"},"telephone":"303-666-6292","stateRegisteredReps":3,"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","Portfolio management for businesses (other than small businesses) or institutional clients"],"financialPlanningClients":"1-10","assetMix":[{"label":"Exchange-traded equity securities","percent":41},{"label":"Non-exchange-traded equity securities","percent":1},{"label":"Investment grade corporate bonds","percent":3},{"label":"Non-investment grade corporate bonds","percent":3},{"label":"Securities issued by registered investment companies or business development companies","percent":46},{"label":"Securities issued by pooled investment vehicles (other than registered investment companies)","percent":1},{"label":"Cash and cash equivalents","percent":5}],"privateFunds":0},"sources":{"adv1FilingDate":"27 February 2026","adv1Url":"https://reports.adviserinfo.sec.gov/reports/ADV/137419/PDF/137419.pdf","brochureDate":"27 February 2026","brochureUrl":"https://files.adviserinfo.sec.gov/IAPD/Content/Common/crd_iapd_Brochure.aspx?BRCHR_VRSN_ID=1012941","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 TNL Asset Management have?","answer":"TNL Asset Management has 164 clients and manages $139 million for them, as of February 2026. They include 135 individual clients, 27 high-net-worth individuals and 1 charitable organization.","source":"Form ADV Part 1A, Items 5.D and 5.F, filed 27 February 2026","sourceRef":{"doc":"adv1","section":"employees"}},{"question":"What services does TNL Asset Management offer?","answer":"TNL Asset Management provides financial planning, portfolio management for individuals and small businesses, and portfolio management for institutions.","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 TNL Asset Management charge?","answer":"TNL Asset Management charges 0.40%–1.00% a year for its Tiered asset-based portfolio management fees. The fee is billed in arrears and is negotiable.","source":"ADV FORM 2A-2B, filed 27 February 2026","sourceRef":{"doc":"brochure","section":"fees"}},{"question":"Which custodians does TNL Asset Management use?","answer":"TNL Asset Management’s separately managed account assets are held at Charles Schwab & Co., Inc. (San Francisco, CA), with $116M, U.S. Bancorp Investments, Inc. (Minneapolis, MN), with $16.7M and Altruist Financial LLC (Culver City, CA), with $3.32M. Only custodians holding at least a tenth of those assets are named.","source":"Form ADV Part 1A, Schedule D, Section 5.K.(3), filed 27 February 2026","sourceRef":{"doc":"adv1","section":"custodians"}},{"question":"How many financial advisors does TNL Asset Management have?","answer":"TNL Asset Management has 3 investment adviser representatives registered with state securities authorities, out of 4 employees, and 3 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","sourceRef":{"doc":"adv1","section":"employees"}},{"question":"What does TNL Asset Management invest in?","answer":"At the end of its last fiscal year, TNL Asset Management’s separately managed accounts held 46% registered funds (mutual funds, ETFs, BDCs), 41% exchange-traded equities, 5% cash and equivalents, 3% investment grade corporate bonds, 3% high-yield corporate bonds, 1% non-exchange-traded equities 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 TNL Asset Management?","answer":"TNL Asset Management’s direct owner is Todd Lebor (75% or more).","source":"Form ADV Part 1A, Schedules A and B, filed 27 February 2026","sourceRef":{"doc":"adv1","section":"scheduleA"}},{"question":"How does TNL Asset Management get paid?","answer":"TNL Asset Management 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 TNL Asset Management?","answer":"TNL Asset Management’s main office is at 3445 Penrose Place, Suite 130, Boulder, CO 80301. Its phone number is 303-666-6292. Its website is snowballwm.com.","source":"Form ADV Part 1A, Item 1.F, filed 27 February 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."}