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RIA / WealthRegistered adviserother adviserSEC registeredRAUM 1b 10b

CLEARWATER ADVISORS, LLC

CRD 116865

BOISE, ID

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Search this name across graphsid dfx:ria:d8928ff6-e073-d881-f4f9-528d3aed40c2

Data as of May 7, 2026 (this record's last observation) from federal regulator filings. Page built Sep 18, 2026, 11:41 PM UTC and rebuilt at most every 15 minutes.

Relationships: 22
Dated events: 4
On other graphs: 0
Observed: Mar 21, 2012 to May 7, 2026
34 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: other adviserderivedprivate_client_share=0.02 fund_share=0.0 institutional_share=0.48 related_bd=false related_bank=false bd_reps=0.0
Regulatory AUM: $4.7BItem 5.F on the latest filing (2026-05-07); as reported, and an affiliate's assets may be counted again on its own filing
Discretionary RAUM: $3.9B
Private client RAUM: $78.9MderivedItem 5.D individuals plus high net worth individuals
Private client share: 2%derivedprivate client RAUM over total RAUM
Advisors on IAPD: 6
RAUM per advisor: $775Mderivedthe firm's RAUM over its IAPD headcount: a firm average, never a person's book
Employees: 9
Advisory employees: 5
Offices: 2Schedule D 1.F, beyond the principal office
Accounts: 84
Individual clients: 0
SEC number: 801-60686
CRD: 116865
Filings on the tape: 34
First filed: Mar 21, 2012
Latest filed: May 7, 2026
Organised: Limited Liability Company, ID
Website: clearwateradvisors.com

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
RHET NMN HULBERT	n/a	BOISE, ID	19	23	1	no
RICHARD MING YUH LIN	Chartered Financial Analyst	BOISE, ID	11	11	n/a	no
Daniel Bates	n/a	BOISE, ID	8	11	n/a	no
BRANDON JOHN BEALL	Chartered Financial Analyst	BOISE, ID	4	12	n/a	no
GARRETT EVAN CUDAHEY	Chartered Financial Analyst	Salem, OR	2	17	1	no
Michelle Anne Martin	n/a	BOISE, ID	1	12	n/a	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
Bates, Daniel	Member	E	yes	05/2018	Jun 7, 2018	Mar 7, 2024
Bates, Daniel	CHIEF EXECUTIVE OFFICER	Na	yes	05/2018	Jun 7, 2018	Mar 7, 2024
BATES, DOUGLAS, K	Member	E	yes	02/1999	Mar 21, 2012	Mar 7, 2024
BOREN, DAVID, R	Member	E	yes	09/2001	Mar 21, 2012	Mar 7, 2024
BOREN, MICHAEL, KENNETH	Member	E	yes	09/2001	Mar 21, 2012	Mar 7, 2024
DUNN, C, DAVID	Manager	A	yes	09/2001	Mar 21, 2012	Mar 7, 2024
HONEY BADGER INVESTMENT DEVELOPMENT LLC	Member	C	yes	05/2018	Jun 7, 2018	Mar 7, 2024
HULBERT, RHET, NMN	Member	A	yes	08/2009	Mar 21, 2012	Mar 7, 2024
BID, LLC	Owner	B	no	10/2022	Nov 9, 2022	Mar 7, 2024
NELSON, HAYLEY, NICOLE	CHIEF COMPLIANCE OFFICER	Na	no	05/2018	Jun 7, 2018	Mar 7, 2024
OBSIDIAN INVESTMENTS, LLC	Owner	B	no	10/2022	Nov 9, 2022	Mar 7, 2024
SAGE INVESTORS, LLC	Owner	B	no	10/2022	Nov 9, 2022	Mar 7, 2024

Offices

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

City	State	Country	Employees	Also broker-dealer
n/a	n/a	n/a	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 6, 2026	$4.7B	$4.7B	9	5	2	n/a	n/a
2024	Mar 6, 2025	$4.5B	$4.5B	10	5	3	n/a	n/a
2023	Mar 4, 2024	$3.8B	$3.8B	10	5	3	n/a	n/a
2022	Mar 3, 2023	$3.6B	$3.6B	10	5	2	n/a	n/a
2021	Feb 15, 2022	$4.0B	$4.0B	10	5	2	n/a	n/a
2020	Feb 24, 2021	$4.0B	$4.0B	9	5	0	n/a	n/a
2019	Feb 24, 2020	$3.2B	$3.2B	11	5	0	n/a	n/a
2018	Feb 19, 2019	$4.2B	$4.2B	11	6	0	n/a	n/a
2017	Mar 21, 2018	$6.8B	$6.8B	13	8	0	n/a	n/a
2016	Mar 7, 2017	$7.2B	$7.2B	12	8	n/a	n/a	n/a
2015	Mar 31, 2016	$7.5B	$7.5B	12	8	n/a	n/a	n/a
2014	Apr 2, 2015	$7.4B	$7.4B	14	6	n/a	n/a	n/a
2013	Mar 28, 2014	$5.2B	$5.2B	15	7	n/a	n/a	n/a
2012	Apr 30, 2013	$5.6B	$5.6B	15	7	n/a	n/a	n/a
2011	Mar 21, 2012	$6.5B	$6.5B	n/a	n/a	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	0	0	0.0%	0	0	0	1	0

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	$4.7B	$4.5B	2.8%	$3.6B	8.6%	9	10	2	3

Relationships

Registered with (10)

← Michelle Anne MartinAdvisorregistration: current employment
Mar 15, 2025 to presentfactForm ADV
← GARRETT EVAN CUDAHEYAdvisorregistration: current employment
Feb 7, 2024 to presentfactForm ADV
← BRANDON JOHN BEALLAdvisorregistration: current employment
Oct 15, 2021 to presentfactForm ADV
← Daniel BatesAdvisorregistration: current employment
May 15, 2018 to presentfactForm ADV
← RICHARD MING YUH LINAdvisorregistration: current employment
Oct 30, 2014 to presentfactForm ADV
← RHET NMN HULBERTAdvisorregistration: current employment
Oct 30, 2006 to presentfactForm ADV
← MATTHEW JARED PETERSONAdvisorregistration: previous registration
Feb 6, 2017 to Feb 16, 2021factForm ADV
← PHILIP JAMES BARTLETTAdvisorregistration: previous registration
Mar 1, 2011 to Jun 20, 2018factForm ADV
← JOSHUA LEE HOISINGTONAdvisorregistration: previous registration
Mar 1, 2011 to Mar 28, 2014factForm ADV
← ERIK VAN JENSENAdvisorregistration: previous registration
Apr 20, 2010 to Jan 14, 2011factForm ADV

Controls (7)

← BATES, DOUGLAS, KOwnerMEMBER, ownership code E, individual
Mar 21, 2012 to Mar 7, 2024factForm ADV
← BOREN, DAVID, ROwnerMEMBER, ownership code E, individual
Mar 21, 2012 to Mar 7, 2024factForm ADV
← BOREN, MICHAEL, KENNETHOwnerMEMBER, ownership code E, individual
Mar 21, 2012 to Mar 7, 2024factForm ADV
← DUNN, C, DAVIDOwnerMANAGER, ownership code A, individual
Mar 21, 2012 to Mar 7, 2024factForm ADV
← HULBERT, RHET, NMNOwnerMEMBER, ownership code A, individual
Mar 21, 2012 to Mar 7, 2024factForm ADV
← Bates, DanielOwnerMEMBER, ownership code E, individual
Jun 7, 2018 to Mar 7, 2024factForm ADV
← HONEY BADGER INVESTMENT DEVELOPMENT LLCOwnerMEMBER, ownership code C, domestic entity
Jun 7, 2018 to Mar 7, 2024factForm ADV

Owns (4)

← NELSON, HAYLEY, NICOLEOwnerCHIEF COMPLIANCE OFFICER, ownership code NA, individual
Jun 7, 2018 to Mar 7, 2024factForm ADV
← BID, LLCOwnerOWNER, ownership code B, domestic entity
Nov 9, 2022 to Mar 7, 2024factForm ADV
← OBSIDIAN INVESTMENTS, LLCOwnerOWNER, ownership code B, domestic entity
Nov 9, 2022 to Mar 7, 2024factForm ADV
← SAGE INVESTORS, LLCOwnerOWNER, ownership code B, domestic entity
Nov 9, 2022 to Mar 7, 2024factForm ADV

Dated events

Occurred
Mar 4, 2024
Control person left
Alan Christopher Brechbuhler (Member) no longer on Schedule A of Clearwater Advisors, Llc (listed 2024-02-05, absent 2024-03-04)
Form ADVobserved 3 days ago
Occurred
Feb 24, 2021
Regulatory AUM changed
Clearwater Advisors, Llc reported RAUM $4.0B, up 27% from $3.2B (2020-11-05 to 2021-02-24)
Form ADVobserved 3 days ago
$844M
Occurred
Feb 24, 2021
Control person left
Timothy James Dunn (Advisory Board) no longer on Schedule A of Clearwater Advisors, Llc (listed 2020-11-05, absent 2021-02-24)
Form ADVobserved 3 days ago
Occurred
Feb 19, 2019
Regulatory AUM changed
Clearwater Advisors, Llc reported RAUM $4.2B, down 39% from $6.8B (2018-10-25 to 2019-02-19)
Form ADVobserved 3 days ago
$-2.6B

Provenance

Graph: RIA / Wealth Management
Canonical id: dfx:ria:d8928ff6-e073-d881-f4f9-528d3aed40c2
First observed: Mar 21, 2012
Last observed: May 7, 2026 4 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.

CLEARWATER ADVISORS, LLC

CRD 116865

BOISE, ID

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:d8928ff6-e073-d881-f4f9-528d3aed40c2

Data as of May 7, 2026 (this record's last observation) from federal regulator filings. Page built Sep 18, 2026, 11:41 PM UTC and rebuilt at most every 15 minutes.

Advisor

Designations

Branch

Years here

In industry

Prior firms

Dual registered

RHET NMN HULBERT

n/a

BOISE, ID

RICHARD MING YUH LIN

Chartered Financial Analyst

BOISE, ID

n/a

Daniel Bates

n/a

BOISE, ID

n/a

BRANDON JOHN BEALL

Chartered Financial Analyst

BOISE, ID

n/a

GARRETT EVAN CUDAHEY

Chartered Financial Analyst

Salem, OR

Michelle Anne Martin

n/a

BOISE, ID

n/a

Owner

Title

Ownership code

Control person

Acquired

First seen

Last seen

Bates, Daniel

Member

yes

05/2018

Jun 7, 2018

Mar 7, 2024

Bates, Daniel

CHIEF EXECUTIVE OFFICER

yes

05/2018

Jun 7, 2018

Mar 7, 2024

BATES, DOUGLAS, K

Member

yes

02/1999

Mar 21, 2012

Mar 7, 2024

BOREN, DAVID, R

Member

yes

09/2001

Mar 21, 2012

Mar 7, 2024

BOREN, MICHAEL, KENNETH

Member

yes

09/2001

Mar 21, 2012

Mar 7, 2024

DUNN, C, DAVID

Manager

yes

09/2001

Mar 21, 2012

Mar 7, 2024

HONEY BADGER INVESTMENT DEVELOPMENT LLC

Member

yes

05/2018

Jun 7, 2018

Mar 7, 2024

HULBERT, RHET, NMN

Member

yes

08/2009

Mar 21, 2012

Mar 7, 2024

BID, LLC

Owner

10/2022

Nov 9, 2022

Mar 7, 2024

NELSON, HAYLEY, NICOLE

CHIEF COMPLIANCE OFFICER

05/2018

Jun 7, 2018

Mar 7, 2024

OBSIDIAN INVESTMENTS, LLC

Owner

10/2022

Nov 9, 2022

Mar 7, 2024

SAGE INVESTORS, LLC

Owner

10/2022

Nov 9, 2022

Mar 7, 2024

City

State

Country

Employees

Also broker-dealer

n/a

Fiscal year

Filed

RAUM

Discretionary

Employees

Advisory staff

Offices

Private funds

Fund GAV

2025

Mar 6, 2026

$4.7B

n/a

2024

Mar 6, 2025

$4.5B

n/a

2023

Mar 4, 2024

$3.8B

n/a

2022

Mar 3, 2023

$3.6B

n/a

2021

Feb 15, 2022

$4.0B

n/a

2020

Feb 24, 2021

$4.0B

n/a

2019

Feb 24, 2020

$3.2B

n/a

2018

Feb 19, 2019

$4.2B

n/a

2017

Mar 21, 2018

$6.8B

n/a

2016

Mar 7, 2017

$7.2B

n/a

2015

Mar 31, 2016

$7.5B

n/a

2014

Apr 2, 2015

$7.4B

n/a

2013

Mar 28, 2014

$5.2B

n/a

2012

Apr 30, 2013

$5.6B

n/a

2011

Mar 21, 2012

$6.5B

n/a

Joined, 12m

Left, 12m

Net, 12m

Departure rate, 12m

Joined, 90d

Left, 90d

Left, no destination yet

Joined, 36m

Left, 36m

0.0%

Latest fiscal year

RAUM

A year earlier

1y change

Three years earlier

3y CAGR

Employees

A year earlier

Offices

A year earlier

2025

$4.7B

$4.5B

2.8%

$3.6B

8.6%