Waterstone Financial Advisory provides financial planning, portfolio management for individuals and small businesses, selecting other managers, education planning, estate planning, insurance, and tax planning. Financial planning was provided to 51–100 clients last fiscal year.
Waterstone Financial Advisory reports 291 clients. They include 218 individual clients, 67 high-net-worth individuals, and 5 corporations and other businesses. Of its assets, 99.1% ($260M across 953 accounts) are managed with discretion; $2.4M across 1 account is not. It advised 3 clients without assets under management last fiscal year.
| Client type | Clients | Assets |
|---|---|---|
| Individuals (other than HNW) | 75% | 28% |
| High-net-worth individuals | 23% | 68% |
| Pension and profit-sharing plans | <1% | <1% |
| Corporations and other businesses | 2% | 3% |
Client breakdown and activity details
| Client type | Clients | Regulatory AUM | AUM share | Avg. per client |
|---|---|---|---|---|
| Individuals (other than HNW) | 218 | $73.5M | 28.0% | $337K |
| High-net-worth individuals | 67 | $177M | 67.6% | $2.65M |
| Pension and profit-sharing plans | Fewer than 5 | $2.4M | 0.9% | $2.4M |
| Corporations and other businesses | 5 | $9.18M | 3.5% | $1.84M |
| Total | 291 | $262M | 100% | — |
- Clients
- 218
- Regulatory AUM
- $73.5M
- AUM share
- 28.0%
- Avg. per client
- $337K
- Clients
- 67
- Regulatory AUM
- $177M
- AUM share
- 67.6%
- Avg. per client
- $2.65M
- Clients
- Fewer than 5
- Regulatory AUM
- $2.4M
- AUM share
- 0.9%
- Avg. per client
- $2.4M
- Clients
- 5
- Regulatory AUM
- $9.18M
- AUM share
- 3.5%
- Avg. per client
- $1.84M
Total
- Clients
- 291
- Regulatory AUM
- $262M
- AUM share
- 100%
- Avg. per client
- —
- Clients outside the U.S.
- 0%
- Clients advised without assets under management last fiscal year
- 3
- Private funds advised
- 0
- Financial planning clients last fiscal year
- 51–100
Waterstone Financial Advisory charges 0.45%–1.15% a year for its Advisory Fee. The fee is billed in advance and is negotiable. The brochure also prices one other service, listed under fee details.
Fee details and sources
Other fees
- Financial Planning Fees
- A negotiated fixed fee of $300 to $3,000 per year for creating and monitoring a financial plan, paid in advance.
James Gallagher owns 75% or more of Waterstone Financial Advisory. The leadership team of Waterstone Financial Advisory includes President James Gallagher and Chief Compliance Officer Phillip McGrath. It has 5 employees, 3 of them in advisory roles.
Staff
- 5 employees
- 3 in advisory functions
- 3 state-registered reps
- 4 insurance agents
- Owns 75% or more of Waterstone Financial Advisory LLC
James Gallagher
Control person · since January 2023
Waterstone Financial Advisory’s regulatory assets grew 1.5× from $170M (August 2023) to $262M (July 2026); clients were 291 in both filings and employees fell from 6 to 5.
Figures from each annual filing
| Filed | Regulatory AUM | Clients | StaffEmployees | Offices |
|---|---|---|---|---|
| Jul 2026July 2026 | $262M | 291 | 5 | 1 |
| Jul 2025July 2025 | $226M | 288 | 5 | 1 |
| Jun 2024June 2024 | $181M | 238 | 6 | 1 |
| Aug 2023August 2023 | $170M | 280 | 6 | 1 |
Besides its headquarters, Waterstone Financial Advisory has 0 offices, with 1 listed address in 1 state.
Florida · 1 listed address
- 12597 New Brittany BLVD, Fort MyersHQ
Contact and registration details
- Legal name
- Waterstone Financial Advisory LLC
- Headquarters
- 12597 New Brittany BLVD, Fort Myers, FL 33907
- Website
- waterstonefs.com
- Phone
- 239-288-0977
- @waterstonefs
- SEC file
- 801-127693
- Founded
- 2023
- Structure
- Florida LLC
- Fiscal year end
- December
Waterstone Financial Advisory’s named custodian for separately managed accounts is Fidelity ($241M). Waterstone Financial Advisory does not have custody of client assets.
- FidelityFidelity Investments · Covington, KS · $241M100%
At year end, Waterstone Financial Advisory’s separately managed accounts were mostly in funds (66%) and stocks (30%).
What the accounts hold
- Stocks30%
- Funds66%
- Cash4%
How many clients does Waterstone Financial Advisory have?
Waterstone Financial Advisory has 291 clients and manages $262 million for them, as of July 2026. They include 218 individual clients, 67 high-net-worth individuals, and 5 corporations and other businesses.
Source: Form ADV Part 1A, Items 5.D and 5.F, filed 7 July 2026
What services does Waterstone Financial Advisory offer?
Waterstone Financial Advisory provides financial planning, portfolio management for individuals and small businesses, selecting other managers, education planning, estate planning, insurance, and tax planning.
Source: Form ADV Part 1A, Item 5.G, from the SEC's 2 October 2026 data file; Part 2A brochure, Item 4
How much does Waterstone Financial Advisory charge?
Waterstone Financial Advisory charges 0.45%–1.15% a year for its Advisory Fee. The fee is billed in advance and is negotiable.
Source: FORM ADV PART 2A - WATERSTONE FINANCIAL ADVISORY LLC, filed 18 February 2026
Which custodians does Waterstone Financial Advisory use?
Waterstone Financial Advisory’s separately managed account assets are held at Fidelity Investments (Covington, KS), with $241M. Only custodians holding at least a tenth of those assets are named.
Source: Form ADV Part 1A, Schedule D, Section 5.K.(3), filed 7 July 2026
How many financial advisors does Waterstone Financial Advisory have?
Waterstone Financial Advisory has 3 investment adviser representatives registered with state securities authorities, out of 5 employees, and 3 perform investment advisory functions. 0 employees are registered representatives of a broker-dealer and 4 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
What does Waterstone Financial Advisory invest in?
At the end of its last fiscal year, Waterstone Financial Advisory’s separately managed accounts held 66% registered funds (mutual funds, ETFs, BDCs), 30% exchange-traded equities and 4% cash and equivalents.
Source: Form ADV Part 1A, Items 5.K.(1) and 7.B, from the SEC's 2 October 2026 data file
Who owns Waterstone Financial Advisory?
Waterstone Financial Advisory’s direct owner is James Gallagher (75% or more).
Source: Form ADV Part 1A, Schedules A and B, filed 7 July 2026
How does Waterstone Financial Advisory get paid?
Waterstone Financial Advisory 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
How do I contact Waterstone Financial Advisory?
Waterstone Financial Advisory’s main office is at 12597 New Brittany BLVD, Fort Myers, FL 33907. Its phone number is 239-288-0977. Its website is waterstonefs.com.