{"url":"https://nivawealth.com/firms/tortuga-advisers-137514","iapdUrl":"https://adviserinfo.sec.gov/firm/summary/137514","regulatoryAum":563537021,"crd":"137514","history":[{"filedOn":"2021-04-23","regulatoryAum":401256637,"clients":38,"employees":1,"offices":1},{"filedOn":"2022-03-30","regulatoryAum":465397652,"clients":35,"employees":1,"offices":1},{"filedOn":"2023-03-31","regulatoryAum":468625539,"clients":35,"employees":1,"offices":1},{"filedOn":"2024-03-29","regulatoryAum":481647547,"clients":40,"employees":1,"offices":1},{"filedOn":"2025-03-31","regulatoryAum":526954973,"clients":40,"employees":1,"offices":1},{"filedOn":"2026-04-30","regulatoryAum":563537021,"clients":40,"employees":1,"offices":1}],"secFileNumber":"801-64857","legalName":"Tortuga Advisers LLC","displayName":"Tortuga Advisers","slug":"tortuga-advisers-137514","website":null,"classification":{"segment":"individuals","segmentLabel":"Wealth management","type":"independent_wealth_manager","typeLabel":"RIA","feeDisclosure":"full"},"founded":null,"organization":"California limited liability company","fiscalYearEnd":"December","headquarters":{"street":"2655 First Street, Suite 130","city":"Simi Valley","state":"CA","stateName":"California","country":"United States","postalCode":"93065-3737"},"tradeNames":[],"registration":{"secApproved":"18 November 2005","noticeFilings":null,"latestNoticeFiling":null},"wealthAumPerClient":13542904.717948718,"staff":{"employees":1,"advisory":1,"brokerDealerReps":0,"insuranceAgents":0,"promoters":0},"aum":{"regulatory":563537021,"discretionary":563537021,"discretionaryAccounts":40,"nonDiscretionary":0,"nonDiscretionaryAccounts":0,"wrapProgram":null,"nonUsClientsPct":0,"nonAumClients":0},"clientTypes":[{"label":"High-net-worth individuals","clients":39,"regulatoryAum":528173284},{"label":"Charitable organizations","clients":1,"fewerThan5":true,"regulatoryAum":35363737}],"feePrograms":[],"brochureCoverage":{"scope":"sec_inventory","status":"reviewed_no_numerical_schedule","checkedAt":"2026-10-22T06:36:41.239971+00:00","documents":[{"name":"ADV PART 2 032924","status":"read","sourceUrl":"https://files.adviserinfo.sec.gov/IAPD/Content/Common/crd_iapd_Brochure.aspx?BRCHR_VRSN_ID=970180","versionId":970180,"submittedOn":"2026-04-30"}]},"custodians":[],"custodyNote":"Tortuga Advisers has custody of $12.7M in client assets for 4 clients.","otherCustodians":[],"leadership":[{"name":"Michael Schaible","title":"President","crd":"852930"},{"name":"Michael Schaible","title":"Chief Compliance Officer","crd":"852930"}],"ownership":[{"label":"Michael Schaible","detail":"President in the 75% or more ownership band and a control person, since October 2005. Also chief compliance officer in the 75% or more ownership band and a control person, since October 2005. Also managing member in the 75% or more ownership band and a control person, since October 2005."}],"branchOffices":null,"filedOffices":{"otherThanPrincipal":0,"privateResidences":0},"listedOfficeAddresses":1,"foreignOffices":[],"officesByState":[{"state":"California","offices":1,"addresses":[{"street":"2655 First Street, Suite 130","city":"Simi Valley","headquarters":true}]}],"advFacts":{"source":{"file":"ia100226.zip","asOf":"2 October 2026"},"telephone":"626-683-2200","stateRegisteredReps":0,"otherAdviserReps":0,"compensation":["A percentage of assets under management","Fixed fees (other than subscription fees)"],"activities":["Portfolio management for individuals and/or small businesses"],"financialPlanningClients":"0","assetMix":[{"label":"Exchange-traded equity securities","percent":78},{"label":"U.S. government/agency bonds","percent":15},{"label":"Investment grade corporate bonds","percent":1},{"label":"Cash and cash equivalents","percent":6}],"privateFunds":0},"sources":{"adv1FilingDate":"30 April 2026","adv1Url":"https://reports.adviserinfo.sec.gov/reports/ADV/137514/PDF/137514.pdf","brochureDate":"30 April 2026","brochureUrl":"https://files.adviserinfo.sec.gov/IAPD/Content/Common/crd_iapd_Brochure.aspx?BRCHR_VRSN_ID=970180","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 Tortuga Advisers have?","answer":"Tortuga Advisers has 40 clients and manages $564 million for them, as of April 2026. They include 39 high-net-worth individuals and 1 charitable organization.","source":"Form ADV Part 1A, Items 5.D and 5.F, filed 30 April 2026","sourceRef":{"doc":"adv1","section":"employees"}},{"question":"What services does Tortuga Advisers offer?","answer":"Tortuga Advisers provides portfolio management for individuals and small businesses.","source":"Form ADV Part 1A, Item 5.G, from the SEC's 2 October 2026 data file","sourceRef":{"doc":"adv1","section":"employees"}},{"question":"How many financial advisors does Tortuga Advisers have?","answer":"Tortuga Advisers has 0 investment adviser representatives registered with state securities authorities, out of 1 employees, and 1 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 Tortuga Advisers invest in?","answer":"At the end of its last fiscal year, Tortuga Advisers’ separately managed accounts held 78% exchange-traded equities, 15% U.S. government and agency bonds, 6% cash and equivalents and 1% investment grade corporate bonds.","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 Tortuga Advisers?","answer":"Tortuga Advisers’ direct owner is Michael Schaible (75% or more).","source":"Form ADV Part 1A, Schedules A and B, filed 30 April 2026","sourceRef":{"doc":"adv1","section":"scheduleA"}},{"question":"How does Tortuga Advisers get paid?","answer":"Tortuga Advisers 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 Tortuga Advisers?","answer":"Tortuga Advisers’ main office is at 2655 First Street, Suite 130, Simi Valley, CA 93065-3737. Its phone number is 626-683-2200.","source":"Form ADV Part 1A, Item 1.F, filed 30 April 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."}