No commissions, no ads, no advice. This Freestone Capital profile draws only on public records, each linked so you can confirm it yourself.

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1. Check the SEC adviser record. Open the SEC's IAPD record for Freestone Capital (CRD #145711) and confirm its registration.

2. Read the filings. Review the Form ADV / Form CRS and any disclosure section linked from the IAPD page.

3. Confirm the entity. Match CRD #145711 / Freestone Capital Management so you're reading the right firm.

The short answer: is Freestone Capital a fiduciary?

Yes. Freestone Capital is a fiduciary when it advises you. It's a registered investment adviser, and its Form ADV doesn't report a broker-dealer registration. Freestone Capital is an SEC-registered investment adviser (CRD #145711). According to its latest Form ADV (filed June 29, 2026), it reported $14.5 billion in regulatory assets under management across about 2,994 clients holding 4,494 client accounts (many clients hold more than one account). Its Form ADV (Item 5.E) reports no commissions for advisory services, though it also reports insurance or other sales activity by the firm or a related company, so it's worth asking how each part of the relationship is paid. Its Form ADV (Item 5.E) lists how it is paid: a percentage of assets under management, fixed fees, and performance-based fees. All of it sits on the public record, and confirming it for yourself takes only a few minutes.

Its Form ADV doesn't report a broker-dealer registration or a related broker-dealer, so the adviser's fiduciary standard is the one that applies to its advice.

What "fiduciary" means: a fiduciary is legally bound to place a client's interests above its own. (More on fiduciary duty)

Freestone Capital at a glance

✅ Verified from public filings, last checked October 5, 2026. According to its SEC record (2026), Freestone Capital (SEC CRD #145711) is a fiduciary for the whole advisory relationship, on an advisory-fee basis, with $14.5 billion in regulatory assets under management. Every figure below links to its primary source.

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Freestone Capital fees: what you'll pay

Freestone Capital charges advisory fees: its Form ADV (Item 5.E) reports no commissions for its advisory services. Its filing also reports insurance or other sales activity by the firm or a related company, business that can be paid by commissions. Ask how each part of the relationship is paid. The details are in its Form ADV Part 2A.

Advisory fees are what clients pay the adviser directly. Commissions earned through a related broker-dealer or insurance business are a separate source of pay. For how these models compare, see Fee-only financial advisor: costs and how to find one.

Our take: Freestone clears the regulatory basics, so the fee terms are where we'd spend your diligence time. Before signing, we'd ask for the performance-based fee terms in writing, along with whether any of them would apply to your accounts. That fee type can change what you pay most in a strong year. For a framework on judging the number itself, read Are you paying too much? Why that might be the wrong question.

Who owns Freestone Capital, and what conflicts does it disclose?

Here's who controls Freestone Capital, according to the firm's own website rather than its SEC filings. Freestone Capital Management is an independent, employee-owned RIA founded in Seattle in 1999 by Gary Furukawa. Furukawa and his wife own a significant stake through Freestone Capital Holdings, with employees owning the remainder. (Firm website) To check the direct owners against a regulatory source, open Form ADV Schedule A on the IAPD record.

Its Form ADV Part 2A describes the firm's conflicts of interest, including how it and its advisers are paid.

Freestone Capital SEC record: disclosures

The first place Freestone Capital complaints would surface is the firm's own regulatory filings. On its Form ADV, Freestone Capital answers No to the firm-level disciplinary-history questions. You can confirm that on the public record. Individual advisers can have their own records, so look them up on IAPD and BrokerCheck too. Whatever Freestone Capital disclosures exist live on the public record. Read them there, in context, rather than secondhand.

On the record, the firm has been registered with the SEC since April 25, 2008 (according to IAPD), makes notice filings in 53 jurisdictions, and reports 120 employees, 46 of them in investment advisory roles. Registration is what makes Freestone Capital legit in the regulatory sense: a public CRD and filings anyone can pull. That confirms it's a real, regulated adviser. Whether it's right for you is a separate question.

Reading Freestone Capital reviews against the public record

Star ratings and client comments describe what working with a firm felt like. They usually don't show what the firm reports to regulators. Before you weigh Freestone Capital reviews, check three things this profile takes from the public record. First, how the firm is paid: it reports advisory fees and no commissions, but it has an insurance or other outside-business connection. Second, who owns it and what conflicts it discloses. Third, whether its Form ADV reports any disciplinary history. Read reviews alongside the record, not instead of it.

How to verify Freestone Capital yourself

Here's how to confirm all of it in three steps:

1. SEC adviser record (IAPD): https://adviserinfo.sec.gov/firm/summary/145711.

2. Form ADV / CRS: linked from the IAPD page.

3. Confirm the entity: match Freestone Capital (CRD #145711, legal name Freestone Capital Management) so you're reading the right firm.

What Freestone Capital does and who it serves

On its Form ADV, Freestone Capital reports providing financial planning, portfolio management for individuals, small businesses and institutions, selection of other advisers, and educational seminars.

It reports providing financial planning to about 3,000 clients in its last fiscal year (Form ADV Item 5.H). The form keeps that planning count separate from the client totals below.

According to its Form ADV (Item 5.D, 2026), it breaks its clients down by type, about 2,994 in all:

What the client mix suggests. High-net-worth individuals make up about 45% of Freestone's clients but hold about 58% of the assets in this table, roughly $6.3 million per client on average. Just 16 pooled investment vehicles hold about 18% of assets. SEC rules generally limit performance-based fees to qualified clients, so those fees may sit with the larger clients and pooled vehicles. Prospective clients can ask which fee schedule and service level would apply to their account.

It reports 4,494 client accounts, more than the roughly 2,994 clients counted above (many clients hold more than one account). Of those, 2,797 are discretionary (the firm can trade without seeking your approval first), about 62% of accounts, and 1,697 are non-discretionary (Item 5.F). Its main office is in Seattle, WA.

It reports that it or a related person has custody of certain client assets, which brings extra safeguards such as surprise examinations. The specifics are in its Form ADV.

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The hard part isn't checking the firm. It's seeing your whole financial life.

Confirming Freestone Capital is registered takes a few minutes. Freestone's advisers see the accounts the firm manages, and its Form ADV only describes custody and advisory accounts. An old IRA, a spouse's portfolio and fees buried below a standard statement often sit outside that view. If part of your relationship carries a performance-based fee, seeing it next to everything else is how you judge it. This is where Truthifi comes in.

How Truthifi can help

Truthifi links your accounts read-only and shows what you own, how it's allocated, how it's performing and where the risk sits, including single-stock exposure, returns next to a benchmark, a fee breakdown of the fees on each account, by type, and your Truthifi Score. You can share the accounts you choose with your advisor at Freestone Capital.

Prefer your own AI? A paid Truthifi plan lets you connect an AI assistant that supports MCP sign-in, such as Claude. MCP (Model Context Protocol) is a standard way for an assistant to sign in to outside apps. Truthifi Connect is the lighter membership for people who only want to use their own assistant. Questions about your fees need Monitoring or Monitoring Plus+, and you can compare them side by side on the pricing page.

Ask AI about your Freestone Capital accounts

Once your accounts are connected read-only, you can ask in plain English:

• "What do I own across my Freestone Capital accounts and everything else, and how is it allocated?"

• "What am I paying in fees across all of these accounts?"

Try it with Truthifi: start for free at app.truthifi.com and run a Monitoring Checkup (limits apply).

No commissions, no ads, no advice: Truthifi is not an investment adviser and doesn't give investment, tax or legal advice. Its access to your bank and brokerage accounts is read-only. Start free (limits apply). Monitoring Checkup is free. Per Truthifi platform data on the pricing page, you can link up to 10 connections free. Plans and limits are on the pricing page → truthifi.com.

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FAQ

Is Freestone Capital a fiduciary? Yes. It's a registered investment adviser (CRD #145711), so it owes a fiduciary duty when it advises you. Its Form ADV doesn't report a broker-dealer registration or a related broker-dealer.

Is Freestone Capital fee-only? Not necessarily. Its Form ADV (Item 5.E) reports no commissions for advisory services, but the filing also reports insurance or other sales activity by the firm or a related company, which can be paid differently. Ask how everyone you deal with is paid. The details are in its Form ADV Part 2A.

Who owns Freestone Capital? Freestone Capital Management is an independent, employee-owned RIA founded in Seattle in 1999 by Gary Furukawa. Furukawa and his wife own a significant stake through Freestone Capital Holdings, with employees owning the remainder.

Does Freestone Capital have complaints or disclosures? Its Form ADV answers No to the firm-level disciplinary-history questions. Individual advisers can have their own records on IAPD and BrokerCheck.

Is Freestone Capital legit? It is registered with the SEC (CRD #145711) and its filings are public on the SEC's IAPD site, which confirms it is a real, regulated firm. Registration doesn't tell you whether it's the right fit or what you'll pay, so read the fee and conflict sections of its Form ADV.

Can AI help me check whether I'm getting good value? Yes. Start free (limits apply): Monitoring Checkup is free and lets you link up to 10 connections. You can also connect an AI assistant you already use (such as Claude). On Monitoring or Monitoring Plus+ you can ask it, in plain English, about the fees on each of your accounts. Truthifi is not an investment adviser and doesn't give investment, tax or legal advice.

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About this profile

Truthifi built this profile from the firm's own SEC filings (Form ADV and, where filed, Form CRS). Every page is reviewed by the Truthifi Team before publishing. The Truthifi advisor fact packs are an ongoing series checking U.S. investment advisers against their public filings, one firm at a time. Browse other firms on the Truthifi /advisors hub.

Read next from the Truthifi blog

• What is a fiduciary?

• Fee-only financial advisor: costs and how to find one

• Are you paying too much? Why that might be the wrong question

• How to ask AI about your real investment accounts

• Robo-advisor vs. human financial advisor: which is better?

• All advisor fact packs on Truthifi

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A note on sources. The facts on this page come from publicly available documents, Freestone Capital's SEC filings, each linked inline so you can verify it yourself (SEC data current as of October 5, 2026). This is general information, not financial or legal advice, and Truthifi is not affiliated with Freestone Capital. Regulatory records change, so always confirm against the official sources linked above. Spot something that should be corrected? Email us at support@truthifi.com.

What to watch next. The most telling line in Freestone's next Form ADV amendment may be Item 5.E. Check whether performance-based fees still appear alongside asset-based and fixed fees. A change there would tell you more about how the firm earns its money than a shift in its headline assets.