SEC-registered wealth management firm Broker-dealer affiliated
Cain, Watters & Associates, LLC
As of its Form ADV filed June 4, 2026, Cain, Watters & Associates, LLC, an SEC-registered, broker-dealer affiliated wealth management firm in Frisco, Texas, reported $5.0 billion in regulatory assets under management across 12,138 accounts, ranking #17 among all wealth firms in Texas by assets.
Registration
- Registration
- SEC-registered, Approved
- CRD number
- 111521
- SEC file number
- 801-39899
- Registered since
- September 30, 1991
- Latest Form ADV filing
- June 4, 2026
- Organized as
- Limited Liability Company
- Fiscal year ends
- December
- Other offices
- 2
Key figures
- Regulatory assets under management
- $5.0 billion
- Discretionary
- $2.4 billion (47.3%)
- Non-discretionary
- $2.7 billion
- Accounts
- 12,138 (8,623 discretionary)
- Clients
- 4,327, approximate as reported
- Employees
- 341
- Advisory staff
- 86 performing investment advisory functions
- Average account
- $414,962
- Asset growth, 1 year
- 18.9% (from $4.2 billion a year earlier)
- Asset growth, 3-year annual rate
- 23.6% (from $2.7 billion three years earlier)
- Asset growth, 5-year annual rate
- 18.2% (from $2.2 billion five years earlier)
- Client growth, 1 year
- 4.7% (from 4,133)
Broker-dealer affiliated. The firm is affiliated with a bank (Item 7.A(8)) that is part of a group with a broker-dealer (Item 7.A(1)) or controlled by a public company (Schedule D, Item 10.A). 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 | $933.6 million |
| October 3, 2011 | $1.1 billion |
| October 1, 2012 | $1.0 billion |
| October 1, 2013 | $1.2 billion |
| October 1, 2014 | $1.3 billion |
| October 1, 2015 | $1.4 billion |
| October 3, 2016 | $1.4 billion |
| October 2, 2017 | $1.5 billion |
| October 1, 2018 | $1.7 billion |
| October 1, 2019 | $1.6 billion |
| October 1, 2020 | $1.9 billion |
| October 4, 2021 | $2.2 billion |
| October 3, 2022 | $2.8 billion |
| October 5, 2023 | $2.7 billion |
| October 1, 2024 | $3.5 billion |
| September 2, 2025 | $4.2 billion |
| October 2, 2026 | $5.0 billion |
Clients and services
Client mix
| Measure | Bar | RAUM |
|---|---|---|
| High net worth individuals 800 clients | $2.5 billion | |
| Other 1,122 clients | $2.1 billion | |
| Individuals (other than high net worth) 1,474 clients | $425.6 million | |
| Charitable organizations 1 client | $1.9 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
- Selection of other advisers
- Educational seminars or workshops
Financial planning clients (Item 5.H): 3000.
Wrap fee program sponsor or portfolio manager: no.
Other business, affiliations and custody
Other business activities (Item 6.A)
- Accountant or accounting firm
Financial industry affiliations (Item 7.A)
- Broker-dealer
- Other investment adviser
- Banking or thrift institution
- Accountant or accounting firm
- Insurance company or agency
- Sponsor or syndicator of limited partnerships
- Sponsor, general partner or managing member of pooled investment vehicles
Custody (Item 9)
The firm reported custody of client cash or securities, $3.4 billion in total.
Investment adviser representatives
- IARs registered with the firm
- 76
- Also registered through a broker-dealer
- 0
- Employees who are IARs (Form ADV 5.B(3))
- 74
Designations held by the firm's IARs: CFP 5, PFS 4, CFA 1.
0 of the firm's 76 IARs are registered in jurisdictions that require IAR CE. IAR CE requirements by state.
Counts only. AdvisorIQ does not list individual people.
Disclosures
On Form ADV Item 11 the firm answered yes to 0 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 Texas
| Firm | City | RAUM |
|---|---|---|
| Bluespring Wealth Management, LLC | Austin | $5.4 billion |
| True North Advisors, LLC | Dallas | $5.4 billion |
| Linscomb Wealth, Inc. | Houston | $5.2 billion |
| Quotient Wealth Partners, LLC | Dallas | $4.9 billion |
| Avidian Wealth Solutions | Houston | $4.8 billion |
The five wealth firms, broker-dealer affiliated firms included, nearest in regulatory assets with a main office in the same state.
Elsewhere
- Cain, Watters & Associates, LLC on IAPD: Form ADV, brochures and disclosure detail.
- Firm website: www.cainwatters.com
- Wealth management firms in Texas
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.