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RIA / WealthRegistered advisermixed wealth managerSEC registeredRAUM 1b 10b

LEAR INVESTMENT MANAGEMENT

FWL INVESTMENT MANAGEMENT, LLC, CRD 174119

DALLAS, TX

This is the graph view. The full profile, with its team, deals and sources, is on RIA / Wealth Management.Open the full profile →

Search this name across graphsid dfx:ria:d3c29d8e-5ca5-c83f-172a-396e7b68d1c5

Data as of Mar 31, 2026 (this record's last observation) from federal regulator filings. Page built Sep 19, 2026, 5:50 PM UTC and rebuilt at most every 15 minutes.

Relationships: 8
Dated events: 5
On other graphs: 0
Observed: Dec 8, 2014 to Mar 31, 2026
41 observations

Across DFX

This entity has not been resolved onto another DFX graph by a shared identifier. A name match elsewhere would be a candidate, never an identity, and none is recorded.

Facts

fact = as filed or announced; derived = computed by DFX; estimate = a band, never a point

Firm class: mixed wealth managerderivedprivate_client_share=0.32 fund_share=0.68 institutional_share=0.0 related_bd=false related_bank=false bd_reps=0.0
Regulatory AUM: $1.2BItem 5.F on the latest filing (2026-03-31); as reported, and an affiliate's assets may be counted again on its own filing
Discretionary RAUM: $1.2B
Private client RAUM: $394MderivedItem 5.D individuals plus high net worth individuals
Private client share: 32%derivedprivate client RAUM over total RAUM
Advisors on IAPD: 2
RAUM per advisor: $620Mderivedthe firm's RAUM over its IAPD headcount: a firm average, never a person's book
Employees: 7
Advisory employees: 4
Offices: 1Schedule D 1.F, beyond the principal office
Accounts: 945
Individual clients: 189
High net worth clients: 96
Custody, client assets: $135M
SEC number: 801-110851
CIK: 1829231
CRD: 174119
Filings on the tape: 41
First filed: Dec 8, 2014
Latest filed: Mar 31, 2026
Organised: Limited Liability Company, TX

Advisors on IAPD

current investment adviser representatives on the IAPD individual feed, longest tenure first

Advisor	Designations	Branch	Years here	In industry	Prior firms	Dual registered
FREDERICK WAYNE LEAR	n/a	DALLAS, TX	11	29	2	no
GERALD KEITH GIRAND	n/a	DALLAS, TX \| Winter Park, FL	3	30	2	no

Owners and control persons

Schedule A and B as filed; ownership codes are the form's bands (NA under 5%, A 5 to 10%, B 10 to 25%, C 25 to 50%, D 50 to 75%, E over 75%); people are listed as filed and never merged by name

Owner	Title	Ownership code	Control person	Acquired	First seen	Last seen
LEAR, FREDERICK, WAYNE	MANAGING PARTNER	E	yes	11/2014	Mar 31, 2026	Mar 31, 2026
Gould, Thayne, E	CHIEF COMPLIANCE OFFICER	Na	no	12/2022	Mar 31, 2026	Mar 31, 2026

Offices

Schedule D 1.F offices beyond the principal office; street addresses are not published

City	State	Country	Employees	Also broker-dealer
WINTER PARK	FL	United States	1	no
Boston	Ma	United States	1	no

Regulatory AUM by fiscal year

annual amendments (and the roster's annual snapshot) as filed; where a year was amended twice the later filing draws the line

Fiscal year	Filed	RAUM	Discretionary	Employees	Advisory staff	Offices	Private funds	Fund GAV
2025	Mar 31, 2026	$1.2B	$1.2B	7	4	1	n/a	n/a
2024	Apr 28, 2025	$806M	$803M	9	4	1	n/a	n/a
2023	Mar 27, 2024	$604M	$602M	8	4	2	n/a	n/a
2022	Mar 30, 2023	$573M	$571M	8	4	2	n/a	n/a
2021	Mar 17, 2022	$567M	$567M	6	2	1	n/a	n/a
2020	Mar 1, 2021	$500M	$500M	4	4	1	n/a	n/a
2019	Mar 3, 2020	$144M	$144M	3	2	0	n/a	n/a
2018	Feb 8, 2019	$162M	$161M	5	4	0	n/a	n/a
2017	Feb 14, 2018	$131M	$129M	4	2	0	n/a	n/a
2015	Mar 30, 2016	$86.8M	$85.0M	3	2	n/a	n/a	n/a

Advisor flows

derived: registrations beginning and ending at this CRD on IAPD, bulk corporate re-registrations excluded; the rate is departures over IAPD headcount

Joined, 12m	Left, 12m	Net, 12m	Departure rate, 12m	Joined, 90d	Left, 90d	Left, no destination yet	Joined, 36m	Left, 36m
0	1	-1	50.0%	0	0	0	0	1

Growth

derived from consecutive annual filings; RAUM as reported

Latest fiscal year	RAUM	A year earlier	1y change	Three years earlier	3y CAGR	Employees	A year earlier	Offices	A year earlier
2025	$1.2B	$806M	53.9%	$573M	29.3%	7	9	1	1

Teams out

two or more advisors whose registrations ended here and began at one firm together: a fact of two dates, not a prediction

Other firm	Advisors	First left	Last joined	From	Kind	Move type	Share of firm
DELOS CAPITAL ADVISORS	2	Mar 26, 2019	Mar 26, 2019	DALLAS, TX	Team lift out	RIA to RIA	66.7%

Relationships

Registered with (5)

← GERALD KEITH GIRANDAdvisorregistration: current employment
Mar 6, 2023 to presentfactForm ADV
← FREDERICK WAYNE LEARAdvisorregistration: current employment
Jan 12, 2015 to presentfactForm ADV
← Lynn SandtAdvisorregistration: previous registration
May 1, 2020 to Dec 12, 2025factForm ADV
← CODY LEE LUMMUSAdvisorregistration: previous registration
Aug 22, 2016 to Mar 26, 2019factForm ADV
← Andrew Hunter SmithAdvisorregistration: previous registration
Mar 7, 2019 to Mar 26, 2019factForm ADV

Controls (1)

← LEAR, FREDERICK, WAYNEOwnerMANAGING PARTNER, ownership code E, individual
Dec 8, 2014 to Nov 12, 2024factForm ADV

Owns (1)

← Gould, Thayne, EOwnerCHIEF COMPLIANCE OFFICER, ownership code NA, individual
Mar 30, 2023 to Nov 12, 2024factForm ADV

Moved with (1)

→ DELOS CAPITAL ADVISORSRegistered adviser2 advisors, team lift out, same day
Mar 26, 2019 to Mar 26, 2019factForm ADV

Dated events

Occurred
Mar 31, 2026
Regulatory AUM changed
Lear Investment Management reported RAUM $1.2B, up 54% from $805.7M (2025-04-28 to 2026-03-31)
Form ADVobserved 4 days ago
$434M
Occurred
Dec 12, 2025
Advisor changed firm
Lynn Sandt left Lear Investment Management for Charles Schwab & Co., Inc. (registered 2026-05-19)
Form ADVobserved 4 days ago
Occurred
Apr 28, 2025
Regulatory AUM changed
Lear Investment Management reported RAUM $805.7M, up 33% from $604.0M (2024-11-12 to 2025-04-28)
Form ADVobserved 4 days ago
$202M
Occurred
Aug 6, 2020
Regulatory AUM changed
Lear Investment Management reported RAUM $420.6M, up 192% from $144.2M (2020-06-03 to 2020-08-06)
Form ADVobserved 4 days ago
$276M
Occurred
Jun 20, 2017
First Form ADV filing
Lear Investment Management filed its initial SEC registration (Form ADV)
Form ADVobserved 4 days ago

Provenance

Graph: RIA / Wealth Management
Canonical id: dfx:ria:d3c29d8e-5ca5-c83f-172a-396e7b68d1c5
First observed: Dec 8, 2014
Last observed: Mar 31, 2026 5 months ago
Source families: Federal regulator filings
3 registered feeds stand behind this record; each fact above carries its own dates and, where the publisher serves one, its document.
Resolution: Identity across graphs by shared identifier (CRD, CIK, EIN, ADV fund id, individual CRD) or citation; a name match is shown as a candidate and never merged.

LEAR INVESTMENT MANAGEMENT

FWL INVESTMENT MANAGEMENT, LLC, CRD 174119

DALLAS, TX

This is the graph view. The full profile, with its team, deals and sources, is on RIA / Wealth Management.Open the full profile →

Search this name across graphsid dfx:ria:d3c29d8e-5ca5-c83f-172a-396e7b68d1c5

Data as of Mar 31, 2026 (this record's last observation) from federal regulator filings. Page built Sep 19, 2026, 5:50 PM UTC and rebuilt at most every 15 minutes.

Advisor

Designations

Branch

Years here

In industry

Prior firms

Dual registered

FREDERICK WAYNE LEAR

n/a

DALLAS, TX

GERALD KEITH GIRAND

n/a

DALLAS, TX | Winter Park, FL

Owner

Title

Ownership code

Control person

Acquired

First seen

Last seen

LEAR, FREDERICK, WAYNE

MANAGING PARTNER

yes

11/2014

Mar 31, 2026

Gould, Thayne, E

CHIEF COMPLIANCE OFFICER

12/2022

Mar 31, 2026

City

State

Country

Employees

Also broker-dealer

WINTER PARK

United States

Boston

United States

Fiscal year

Filed

RAUM

Discretionary

Employees

Advisory staff

Offices

Private funds

Fund GAV

2025

Mar 31, 2026

$1.2B

n/a

2024

Apr 28, 2025

$806M

$803M

n/a

2023

Mar 27, 2024

$604M

$602M

n/a

2022

Mar 30, 2023

$573M

$571M

n/a

2021

Mar 17, 2022

$567M

n/a

2020

Mar 1, 2021

$500M

n/a

2019

Mar 3, 2020

$144M

n/a

2018

Feb 8, 2019

$162M

$161M

n/a

2017

Feb 14, 2018

$131M

$129M

n/a

2015

Mar 30, 2016

$86.8M

$85.0M

n/a

Joined, 12m

Left, 12m

Net, 12m

Departure rate, 12m

Joined, 90d

Left, 90d

Left, no destination yet

Joined, 36m

Left, 36m

-1

50.0%

Latest fiscal year

RAUM

A year earlier

1y change

Three years earlier

3y CAGR

Employees

A year earlier

Offices

A year earlier

2025

$1.2B

$806M

53.9%

$573M

29.3%

Other firm

Advisors

First left

Last joined

From

Kind

Move type

Share of firm

DELOS CAPITAL ADVISORS

Mar 26, 2019

DALLAS, TX

Team lift out

RIA to RIA

66.7%