Evanson Asset Management

What Evanson Asset Management does

Evanson Asset Management is an independent registered investment advisor (SEC CRD 135188) founded in 1995 by Steven E. Evanson, specializing in index and passive investment management for individual investors and retirees. The firm constructs evidence-based, factor-aware portfolios using Dimensional Fund Advisors (DFA) strategies, with exposure spanning U.S. and international equities, fixed income, and alternative asset classes. Its product suite centers on disciplined asset allocation, systematic rebalancing, tax-efficient investing (including tax-loss harvesting), and fixed income management, delivered as a unified advisory service rather than a modular platform.

The firm's business model is built on very low-cost fixed quarterly retainer fees, a structural departure from the prevailing percentage-of-AUM pricing in wealth management. Client assets are custodied at Schwab and Fidelity, and the firm operates with a lean team of 1-10 employees serving clients during Pacific time business hours. Distribution is direct-to-client, supported by an extensive library of educational website content on passive investing philosophy and DFA strategies.

Effective March 31, 2026, Evanson Financial, LLC acquired the advisory business in a planned internal succession following founder Steven E. Evanson's retirement. David B. Sherwood, Jr. assumed ownership and leadership, with continuity explicitly preserved across the advisory team, investment philosophy, and custodial relationships. The firm is privately held with no public listing and no disclosed external funding.

Name

Evanson Asset Management

Legal name

Evanson Asset Management®, LLC

Website

https://evansonasset.com

Company type

Private

Founded year

1995

Operating status

Operating

Headcount range

1–10 employees

Short description

Evanson Asset Management is a privately held registered investment advisor founded in 1995, serving individual investors and retirees with low-cost, evidence-based passive and index portfolio management using DFA strategies and a fixed quarterly retainer fee model.

Ownership category

akta.pro rank

Product category

Wealth Management / Investment Advisory Services

NAICS

Portfolio Management and Investment Advice (523940)

SIC

Investment Advice (6282)

akta.pro primary industry

Registered Investment Advisor (RIA) Wealth Management (FSAEABAA)

akta.pro secondary industries

Investment Management Advisory (RIA) (FSAEAAAB), Portfolio Management–Led RIAs (Discretionary/Model-Based) (FSAAACAC)

Keywords

• Investment advisory services
• Passive index management
• Portfolio management
• Retirement income planning
• Fiduciary wealth management

Headquarters

HQ city

Causeway Bay

HQ country

Hong Kong SAR China

HQ region

Asia

Offices1 record

Markets served

GTM type

B2C

Offering type

Services

Cost components

Personnel, Operations, Technology or R&D, Marketing or Sales, Others

Revenue model

1. Investment Advisory Fees: Evanson Asset Management generates revenue through investment advisory fees charged to clients. The firm offers very low-cost fixed quarterly retainer fees for its investment management services, positioning itself as a cost-efficient alternative to traditional actively managed advisory services.

Pricing tiers

Go-to-market motion1 record

Distribution channels1 record

Marketing channels3 records

Core offering

Evanson Asset Management is an independent registered investment advisor that provides discretionary investment advisory services built around disciplined, low-cost index and passive investment management. The firm constructs and manages diversified, evidence-based portfolios primarily using Dimensional Fund Advisors (DFA) factor-based strategies covering equities, fixed income, and alternative asset classes, with assets custodied at Schwab and Fidelity and clients charged very low fixed quarterly retainer fees.

Product overview

Evanson Asset Management is an independent registered investment advisory firm founded in 1995 (acquired by Evanson Financial, LLC effective March 31, 2026) offering a unified suite of index and passive investment management services. The core offering centers on disciplined asset allocation using low-cost, evidence-based strategies. The firm provides portfolio design, rebalancing, tax efficiency services, fixed income investing, and alternative asset class exposure primarily through Dimensional Fund Advisors (DFA) strategies. The firm charges fixed quarterly retainer fees and custodies assets at Schwab and Fidelity. The product lineup is a single integrated advisory service rather than a modular platform, with various investment approaches (value tilting, small cap exposure, international diversification, tax-managed funds) embedded within the core portfolio management offering.

Differentiator

Problem solved

Functional benefit

Products and services

• Investment Advisory Services Integrated investment advisory offering for individual investors and retirees covering asset allocation design, ongoing portfolio management, systematic rebalancing, tax-efficient implementation, fixed income and alternative asset exposure, and DFA factor-based strategies. Delivered as a single retainer-based service to long-term individual clients.

Quantifiable outcome

• Fixed retainer fees eliminate percentage-based costs that scale with portfolio growth

Named customers2 records

Segments1 record

Ideal customer profiles1 record

Technology focussed No

API detail

Has API

No

API docs

API detail

Core technology

AI maturity

App detail

Partnerships

Three partnerships are on record, tiered core.

• Dimensional Fund Advisors (DFA)coreTechnology or IntegrationEvanson Asset Management specializes in DFA's factor-based diversification models and Dimensional Fund Advisors strategies. The firm offers extensive research and education on DFA funds, portfolio design using DFA models, and implements DFA's approach to capturing value and small-cap premiums through evidence-based investment management.
• SchwadecoreOthersCustodial partner for client assets. The firm custody assets at Schwab as one of its primary custodial relationships.
• FidelitycoreOthersCustodial partner for client assets. The firm custody assets at Fidelity as one of its primary custodial relationships.

Scale indicators3 records

Recent moves5 records

Expansion highlights4 records

Direct peers

• Wealthfront: Robo-advisor focused on passive, low-cost portfolio management and tax-loss harvesting for individual investors, competing in the same cost-conscious passive investing segment as Evanson.
• Schwab Intelligent Portfolios: Schwab's automated and premium advisory offering serves the same individual investor and retiree segment as Evanson with passive/index portfolios, low fees, and is also a custodial platform for Evanson — making it both a competitor and infrastructure partner.
• Empower Personal Dashboard (formerly Personal Capital): Hybrid digital advisory platform combining free financial tools with paid wealth management services using passive and factor-based portfolios, competing directly with Evanson for tech-aware, fee-sensitive individual investors.
• Betterment: A leading robo-advisor offering low-cost, automated passive portfolio management to individuals and retirees, directly competing with Evanson on cost, simplicity, and evidence-based index strategies.
• Facet Wealth: A flat-fee RIA that pioneered the subscription-based advisor pricing model, offering personalized financial planning and investment management for a fixed annual fee — a close structural analog to Evanson's flat retainer approach.
• Vanguard Personal Advisor Services: Vanguard's hybrid advisory service combines low-cost index/passive fund portfolios with human advisor access, directly competing with Evanson in the low-cost, evidence-based passive wealth management category for individual investors and retirees.

Broad incumbents

• Edelman Financial Engines: One of the largest independent RIAs in the US, offering advisor-led and automated portfolio management with significant brand recognition and scale — competing in the same individual investor and retiree segment as Evanson at the national level.
• Fisher Investments: A large, established RIA primarily using active management for high-net-worth clients, operating at much greater scale and serving as a broad incumbent in the personal investment advisory industry that competes for the same retiree wealth segment as Evanson.

Others

• Dimensional Fund Advisors: The fund manufacturer whose factor-based strategies form the core of Evanson's investment approach. DFA is the strategic product partner and wholesale enabler rather than a direct retail competitor, but its strategy and distribution decisions materially shape Evanson's offering.

Emerging players

• Rebalance Wealth: An RIA specializing in evidence-based, factor-aware portfolio design including DFA-style tilts, serving individual investors with a fiduciary, low-cost model that closely mirrors Evanson's investment philosophy.

Market position

Strengths5 records

Weaknesses5 records

Competitive moat3 records

Key risks6 records

Key highlights6 records

Customer concentration

Revenue estimate

Valuation estimate

Number of profiles

Profiles1 record

Funding overview

Funding rounds

Investors

Funding detail is available on the Subscription and Enterprise plan.Contact sales →

M&A

Investments

M&A and investment is available on the Subscription and Enterprise plan.Contact sales →

Frequently asked questions about Evanson Asset Management