SEC-registered firm
Registration does not mean the SEC approves or recommends the firm, and it does not imply a certain level of skill or training.
Dunham
San Diego, CA
Dunham & Associates Investment Counsel, Inc., CRD 13162
Firm filing updated July 15, 2026 ·
- $5.6BAssets
- 9Advisory staff
- 13,155Accounts
Fees and minimums
All fee types on the form
- Percentage of assets under managementYes
- Fixed feesYes
- Performance-based feesYes
- Hourly chargesNo
- Subscription fees (for a newsletter or periodical)No
- CommissionsNo
- OtherNo
Who the firm serves
- Individuals10,820
- High net worth individuals1,954
- Corporations or other businesses172
- Charities149
- Pension and profit sharing plans45
- and 1 more15
See the client table
| Client type | Approximate number of clients | Assets |
|---|---|---|
| Individuals (other than high net worth) | 10,820 | $2.0 billion |
| High net worth individuals | 1,954 | $3.2 billion |
| Banking or thrift institutions | Fewer than 5 clients | $0 |
| Investment companies | 15 | $335.7 million |
| Pension and profit sharing plans (but not the plan participants or government pension plans) | 45 | $25.9 million |
| Charitable organizations | 149 | $38.5 million |
| State or municipal government entities (including government pension plans) | Fewer than 5 clients | $0 |
| Other investment advisors | Fewer than 5 clients | $0 |
| Insurance companies | Fewer than 5 clients | $0 |
| Sovereign wealth funds and foreign official institutions | Fewer than 5 clients | $0 |
| Corporations or other businesses not listed above | 172 | $99.7 million |
What the client labels mean
Here, "individuals" includes trusts, estates, and IRAs of individuals. A "high net worth individual" is a qualified client or qualified purchaser.
Services
- Financial planning services
- Portfolio management for individuals and/or small businesses
- Portfolio management for investment companies
See all 7 services
- Portfolio management for pooled investment vehicles (other than investment companies)
- Portfolio management for businesses (other than small businesses) or institutional clients
- Selection of other advisors (including private fund managers)
- Other: "ASSET-ALLOCATION SERVICES"
- Financial planning services
- Portfolio management for individuals and/or small businesses
- Portfolio management for investment companies
- Portfolio management for pooled investment vehicles (other than investment companies)
- Portfolio management for businesses (other than small businesses) or institutional clients
- Selection of other advisors (including private fund managers)
- Other: "ASSET-ALLOCATION SERVICES"
Assets and accounts
- Regulatory assets$5.6 billion
- Accounts13,155
- Discretionary$4.7 billion · 10,769 accounts
- Non-discretionary$888.3 million · 2,386 accounts
People
- Employees43
- Advisory staff9
- Broker-dealer reps31
- Licensed insurance agents0
- Planning clients0
Advisors
20 advisors with a profile on Advisable
Listed A to Z by last name. Not a ranking.
Registration details
- Legal name: Dunham & Associates Investment Counsel, Inc. SEC-registered investment advisor. CRD 13162, SEC file 801-25803.
- Registered with the SEC as an investment advisor (status date on record: November 29, 1985).
Is Dunham a fiduciary?
Short answer: Dunham is registered with the SEC as an investment advisor.
More detail
Some of its people may also act in other roles, such as for a broker-dealer or as insurance agents, where different rules apply. Details below.
The SEC put it this way in 2019: 'Under federal law, an investment adviser is a fiduciary.'
Some of the firm's people may also act for a broker-dealer: 31 staff are broker-dealer representatives and the firm is itself a broker-dealer. When someone acts for a broker-dealer, a different SEC standard, Regulation Best Interest, applies to their recommendations. Ask which role they are acting in.
The firm's Form CRS explains its services, fees and conflicts in plain language: Form CRS.
About this data
Informational only. Advisable Finance is not an investment advisor, does not give investment advice, and does not endorse any advisor.