Esi Financial Advisors

Registered investment adviser · Montpelier, VT · CRD #265

Form ADV data as of 2026-09-01

Regulatory assets

$2.78 billion

Total accounts

12,379

Employees

500

Disclosure events

Firm details

Website: https://www.equity-services.com
Telephone: 800-344-7437
SEC file number: 801-41722
Most recent Form ADV filing: 2026-07-01
SEC record: View this firm on the SEC's IAPD site

Disciplinary disclosures

This firm reports 9 disclosure questions answered Yes, covering 30 reported events. Form ADV Item 11 covers charges and pending proceedings as well as findings, so a Yes answer is not itself a finding of wrongdoing. The underlying detail is filed with the SEC.

Charged with an investment-related misdemeanor (past 10 years)
SEC or CFTC found a violation of its regulations or statutes
SEC or CFTC entered an order in connection with investment-related activity
SEC or CFTC imposed a civil money penalty or a cease-and-desist order
Another regulator found a violation of investment-related regulations or statutes
Another regulator entered an order in connection with investment-related activity (past 10 years)
A self-regulatory organization found a false statement or omission
A self-regulatory organization found a violation of its rules
A self-regulatory organization expelled, suspended, barred, or restricted the firm

Assets and accounts

Provides continuous and regular supervisory or management services	Yes
Discretionary regulatory assets under management	$1.14 billion
Non-discretionary regulatory assets under management	$1.64 billion
Total regulatory assets under management	$2.78 billion
Discretionary accounts	3,538
Non-discretionary accounts	8,841
Total accounts	12,379
Regulatory assets under management attributable to non-U.S. persons	$0

People

Total employees (excluding clerical)	500
Employees performing investment advisory functions (including research)	460
Employees who are registered representatives of a broker-dealer	470
Employees registered as investment adviser representatives with a state	495
Employees registered as IARs for another investment adviser	0
Employees who are licensed insurance agents	460
Firms or persons who solicit advisory clients on the firm's behalf	10

Custody

Has custody of client cash or bank accounts	No
Has custody of client securities	No
A related person has custody of client cash or bank accounts	No
A related person has custody of client securities	No
The firm acts as a qualified custodian	No
A related person acts as a qualified custodian	No

How the firm is compensated

A percentage of assets under managementHourly chargesFixed fees (other than subscription fees)Commissions

Advisory services offered

Financial planning servicesPortfolio management for individuals and/or small businessesPension consulting servicesSelection of other advisers (including private fund managers)Educational seminars/workshops

Other business activities

Broker-dealer (registered or unregistered)Insurance broker or agent

Affiliated related persons

Other investment adviser (including financial planners)Accountant or accounting firmLawyer or law firmInsurance company or agency

Reported conflicts of interest

Form ADV Items 8 asks advisers to disclose arrangements that may create a conflict with client interests. This firm answered Yes to:

Buys or sells for itself securities it also recommends to clients
Recommends securities for which it serves as underwriter or general partner
Recommends securities in which it has another sales interest
Compensates a non-employee for client referrals
Receives compensation from others for client referrals

Client types

Type of client	Clients	Assets
Individuals (other than high net worth individuals)	8,856	$1.43 billion
High net worth individuals	3,041	$1.21 billion
Pension and profit sharing plans (not the participants or government plans)	375	$93.1 million
Charitable organizations	4	$1.2 million
Corporations or other businesses not listed above	103	$42.3 million