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Only custodians holding at least a tenth of those assets are named.","source":"Form ADV Part 1A, Schedule D, Section 5.K.(3), filed 11 September 2026","sourceRef":{"doc":"adv1","section":"custodians"}},{"question":"How many financial advisors does Townsend & Associates have?","answer":"Townsend & Associates has 16 investment adviser representatives registered with state securities authorities, out of 30 employees, and 11 perform investment advisory functions. 17 employees are registered representatives of a broker-dealer and 12 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 Townsend & Associates invest in?","answer":"At the end of its last fiscal year, Townsend & Associates’ separately managed accounts held 43% exchange-traded equities, 35% registered funds (mutual funds, ETFs, BDCs), 10% cash and equivalents, 10% other, 1% non-exchange-traded equities, 1% U.S. government and agency bonds and 1% investment grade corporate bonds. 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