SEC-registered wealth management firm Broker-dealer affiliated
First Heartland Consultants, Inc.
As of its Form ADV filed July 13, 2026, First Heartland Consultants, Inc., an SEC-registered, broker-dealer affiliated wealth management firm in Lake St. Louis, Missouri, reported $2.1 billion in regulatory assets under management across 9,610 accounts, ranking #24 among all wealth firms in Missouri by assets.
Registration
- Main office
- Lake St. Louis, MO
- Registration
- SEC-registered, Approved
- CRD number
- 110377
- SEC file number
- 801-46595
- Registered since
- May 23, 1994
- Latest Form ADV filing
- July 13, 2026
- Organized as
- Corporation
- Fiscal year ends
- December
- Other offices
- 71
Key figures
- Regulatory assets under management
- $2.1 billion
- Discretionary
- $1.9 billion (90.1%)
- Non-discretionary
- $206.2 million
- Accounts
- 9,610 (9,498 discretionary)
- Clients
- 6,503, approximate as reported
- Employees
- 96
- Advisory staff
- 88 performing investment advisory functions
- Average account
- $217,060
- Asset growth, 1 year
- 17.8% (from $1.8 billion a year earlier)
- Asset growth, 3-year annual rate
- 12.5% (from $1.5 billion three years earlier)
- Asset growth, 5-year annual rate
- 6.9% (from $1.5 billion five years earlier)
- Client growth, 1 year
- -4.5% (from 6,812)
Broker-dealer affiliated. The firm is affiliated with a broker-dealer (Item 7.A(1)), at least half of its advisory staff are registered representatives of a broker-dealer (Item 5.B(2) against 5.B(1)), and its advisers manage less than $100 million each on average (5.F(2)(c) over 5.B(1)), the pattern of a broker-dealer's advisory arm rather than an adviser that owns a small broker-dealer. It is ranked among all wealth firms, the directory's view that includes wirehouses and broker-dealer firms, not in the main lists of independent RIAs. How firms are classed.
Growth rates come from the SEC's yearly snapshots and are left blank when the years are not comparable.
Rankings
Among all wealth firms, including wirehouses and broker-dealer firms.
Assets over time
Data table
| As of | RAUM |
|---|---|
| October 1, 2010 | $409.6 million |
| October 3, 2011 | $583.2 million |
| October 1, 2012 | $645.3 million |
| October 1, 2013 | $709.7 million |
| October 1, 2014 | $867.8 million |
| October 1, 2015 | $953.4 million |
| October 3, 2016 | $1.0 billion |
| October 2, 2017 | $1.3 billion |
| October 1, 2018 | $2.1 billion |
| October 1, 2019 | $1.2 billion |
| October 1, 2020 | $1.5 billion |
| October 4, 2021 | $1.5 billion |
| October 3, 2022 | $1.7 billion |
| October 5, 2023 | $1.5 billion |
| October 1, 2024 | $1.7 billion |
| September 2, 2025 | $1.8 billion |
| October 2, 2026 | $2.1 billion |
Clients and services
Client mix
| Measure | Bar | RAUM |
|---|---|---|
| Individuals (other than high net worth) 6,041 clients | $1.3 billion | |
| High net worth individuals 309 clients | $540.5 million | |
| Pension and profit sharing plans 86 clients | $198.1 million | |
| Corporations or other businesses 13 clients | $9.8 million | |
| Charitable organizations 12 clients | $5.3 million |
How the firm is paid
- A percentage of assets under management
- Hourly charges
- Fixed fees
Advisory services
- Financial planning
- Portfolio management for individuals or small businesses
- Portfolio management for businesses or institutional clients
- Pension consulting
- Selection of other advisers
- Publication of periodicals or newsletters
- Educational seminars or workshops
Financial planning clients (Item 5.H): 5500.
Wrap fee program sponsor or portfolio manager: yes.
Other business, affiliations and custody
Other business activities (Item 6.A)
None reported.
Financial industry affiliations (Item 7.A)
- Broker-dealer
- Accountant or accounting firm
- Lawyer or law firm
- Insurance company or agency
- Pension consultant
Custody (Item 9)
The firm reported custody of client cash or securities, $1.2 billion in total.
Investment adviser representatives
- IARs registered with the firm
- 99
- Also registered through a broker-dealer
- 96
- Employees who are IARs (Form ADV 5.B(3))
- 96
Designations held by the firm's IARs: CFP 17, ChFC 12, CFA 1, PFS 1.
Between 13 and 79 of the firm's 99 IARs are registered in jurisdictions that require IAR CE. The source counts registrations by jurisdiction, and many IARs are registered in more than one, so the exact number is not knowable from it. IAR CE requirements by state.
Counts only. AdvisorIQ does not list individual people.
Disclosures
On Form ADV Item 11 the firm answered yes to 8 disclosure questions. See the detail on IAPD.
Succession and acquired firms
On Form ADV Item 4 the firm did not report succeeding to another adviser's business.
Similar-sized firms in Missouri
| Firm | City | RAUM |
|---|---|---|
| Smith Moore & Co. | Clayton | $2.4 billion |
| American Century Investments Private Client Group, Inc. | Kansas City | $2.3 billion |
| Mosaic Wealth | St. Louis | $2.0 billion |
| Atwood & Palmer, Inc. | Kansas City | $2.0 billion |
| Parkwoods Wealth Partners, LLC | Clayton | $1.8 billion |
The five wealth firms, broker-dealer affiliated firms included, nearest in regulatory assets with a main office in the same state.
Elsewhere
- First Heartland Consultants, Inc. on IAPD: Form ADV, brochures and disclosure detail.
- Firm website: www.firstheartland.com
- Wealth management firms in Missouri
Firm data as of October 2, 2026, from ia100226.zip. Figures are as the firm reported them; corrections are made on Form ADV and appear after the next monthly reload.
Data as of October 2, 2026, from Form ADV. Sources: SEC registered adviser data (ia100226.zip) and IAPD compilation reports. How the directory is built.