Firm profile

Frost Investment Advisors, LLC

SAN ANTONIO, TXCRD 146148Registration Status: ApprovedEffective since January 25, 2008SEC # 801-68724Latest ADV March 24, 2026

Frost Investment Advisors, LLC is an SEC registered investment adviser organized as a limited liability company with a primary office location in San Antonio, TX. Its latest Form ADV filing, dated March 24, 2026, reports $5.4B in regulatory assets under management, 31 employees, 1 office, and 10 accounts.

Assets Under Management
$5.4B
Employees
31
Offices
1 office
Total Clients
9

Associated firm names

3 names listed
  • FROST INVESTMENT ADVISORS, LLC
  • FROST WEALTH MANAGEMENT SERVICES
  • FROST INVESTMENT MANAGEMENT COMPANY

Leadership

3 roles identified
CCORobert D. Pfeifer
CIOJeffery A. Elswick
CIOMace M. Mccain

Advisory services offered

3 types reported
Portfolio management for businesses
Portfolio management for individuals and small businesses
Portfolio management for investment companies

Fee models offered

2 types reported
Asset based fees
Other fee arrangements

Offices & Contact

Primary office

SAN ANTONIO, Texas, United States

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Primary office regionOther reported regions

Shading shows states and countries with reported offices. Cities are listed below; shading does not indicate service coverage.

Texas

SAN ANTONIOPrimary office

1 office records listed · 1 total offices reported. Counts can use different reporting dates. SEC filers may list only their largest 25 additional offices.

Contact and digital presence

ADV profile links

Regulatory Assets Under Management Breakdown

Total regulatory assets under management$5.4Bas of March 24, 2026
Discretionary100.0%
$5.4B
100% of total RAUM100.0%
Non-discretionary0.0%
$0
0% of total RAUM0.0%
All regulatory assets under management are discretionary.

Client Coverage Demographics

Top client segmentInvestment Cos. represent 44.4% of total clients.
Top client categories% of clientsClients
1
Investment Cos.
44.4%
4
2
Insurance Cos.
33.3%
3
3
Corporations
11.1%
1
4
ENDOWMENTS
11.1%
1

Assets under management Growth by Quarter

Quarterly points use the latest ADV filing or SEC roster snapshot available in each quarter.

Total AUM$5.4B
Total Accounts10
10Y AUM Change+$1.9B (+54.6%)

Private Funds

Private funds reported by Frost Investment Advisors, LLC

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Employee Growth by Quarter

Quarterly points use the latest ADV filing or SEC roster snapshot available in each quarter.

Total Employees31
Clients per Employee0:1
10Y Employee Change-8 (-20.5%)

Historical AUM and employee figures reflect available SEC Form ADV filings under this CRD. Filing gaps may reflect registration status changes, dormant periods, state registration periods, firm restructuring, or other reporting changes. Rialytix does not interpolate missing periods.


Ownership

Reported direct and indirect ownership ranges

Each range applies to a separate reported relationship and should not be added together.

Reported ownership ranges

Highlighted bands show the percentage range reported in Form ADV.

0%25%50%75%100%
FROST BANKDirect owner · Schedule AInterest in FROST INVESTMENT ADVISORS, LLC
75%+
CULLEN/FROST BANKERS, INC.Indirect owner · Schedule BInterest in FROST BANK
75%+

Bars represent the reported range at that individual ownership step, not an estimated percentage of the advisory firm. Indirect relationships may refer to intermediate entities rather than directly to Frost Investment Advisors, LLC.

Reported ownership and control details

Form ADV · Filing date 2026-03-24 · Schedules A and B

15 entries
#Owner / person & roleInterest in entityReported interestControl personTitle / status acquiredSource
1FROST BANKPARENT CORPORATION / MANAGING MEMBERDomestic entityFROST INVESTMENT ADVISORS, LLC75% or moreCode EYesPARENT CORPORATION / MANAGING MEMBER12/2007Schedule APDF page 22
2TIMOTHY PAUL ALTREEMANAGER / MANAGING DIRECTOR /PRODUCT DEVELOPMENT AND ASSET ALLOCATIONIndividualFROST INVESTMENT ADVISORS, LLCLess than 5%Code NAYesMANAGER / MANAGING DIRECTOR /PRODUCT DEVELOPMENT AND ASSET ALLOCATION11/2008Schedule APDF page 22
3ROBERT DEAN PFEIFERMANAGING DIRECTOR / CHIEF COMPLIANCE OFFICERIndividualFROST INVESTMENT ADVISORS, LLCLess than 5%Code NAYesMANAGING DIRECTOR / CHIEF COMPLIANCE OFFICER02/2012Schedule APDF page 22
4JEFFERY A ELSWICKMANAGING DIRECTOR / DIRECTOR OF FIXED INCOME / SENIOR FUND MANAGER / CO-CIOIndividualFROST INVESTMENT ADVISORS, LLCLess than 5%Code NAYesMANAGING DIRECTOR / DIRECTOR OF FIXED INCOME / SENIOR FUND MANAGER / CO-CIO02/2008Schedule APDF page 22
5MICHAEL DEAN BENSONMANAGERIndividualFROST INVESTMENT ADVISORS, LLCLess than 5%Code NAYesMANAGER01/2017Schedule APDF page 22
6ALAN ROBERT ADELMANSENIOR RESEARCH ANALYST / SENIOR FUND MANAGERIndividualFROST INVESTMENT ADVISORS, LLCLess than 5%Code NAYesSENIOR RESEARCH ANALYST / SENIOR FUND MANAGER01/2019Schedule APDF page 22
7Carol Jean SeverynMANAGERIndividualFROST INVESTMENT ADVISORS, LLCLess than 5%Code NAYesMANAGER02/2021Schedule APDF page 22
8MACE MARLIN MCCAINPRESIDENT / MANAGER / MANAGING DIRECTOR/CIOIndividualFROST INVESTMENT ADVISORS, LLCLess than 5%Code NAYesPRESIDENT / MANAGER / MANAGING DIRECTOR/CIO02/2021Schedule APDF page 22
9Coolidge Elmo RhodesMANAGERIndividualFROST INVESTMENT ADVISORS, LLCLess than 5%Code NAYesMANAGER10/2021Schedule APDF page 22
10ROBERT DEAN PFEIFERSECRETARYIndividualFROST INVESTMENT ADVISORS, LLCLess than 5%Code NAYesSECRETARY08/2021Schedule APDF page 22
11MICHAEL DEAN BENSONTREASURERIndividualFROST INVESTMENT ADVISORS, LLCLess than 5%Code NAYesTREASURER08/2021Schedule APDF page 22
12WILLIAM JOHN LUTZDIRECTOR OF EQUITIES / SENIOR FUND MANAGER / SENIOR RESEARCH ANALYSTIndividualFROST INVESTMENT ADVISORS, LLCLess than 5%Code NAYesDIRECTOR OF EQUITIES / SENIOR FUND MANAGER / SENIOR RESEARCH ANALYST05/2023Schedule APDF page 22
13JUSTIN J HOPKINSNATIONAL SALES MANAGERIndividualFROST INVESTMENT ADVISORS, LLCLess than 5%Code NAYesNATIONAL SALES MANAGER05/2023Schedule APDF page 22
14KENNETH WILSONMANAGERIndividualFROST INVESTMENT ADVISORS, LLCLess than 5%Code NAYesMANAGER01/2024Schedule APDF page 22
15CULLEN/FROST BANKERS, INC.PARENT CORPORATIONDomestic entityFROST BANK75% or moreCode EYesPARENT CORPORATION06/2013Schedule BPDF page 23

Less than 5% may include zero. Code F identifies a role without specifying a percentage. Reported interests may overlap and may not include every owner. Total indirect ownership is not calculated.

Compliance & Disclosures

Filing dated 3/24/2026 1:07:59 PM

Responses were selected by the RIA in its filing. Questions are shortened for readability; “you” refers to the reporting firm, and some questions also cover advisory affiliates.

RIA or supervised-person involvementThe RIA reported that none of the events below involve the firm or its supervised persons.RIA responseNo
AFelonies2 No

In the past ten years, have you or any advisory affiliate:

  • A1Been convicted of or pleaded guilty or no contest to a felony?No
  • A2Been charged with a felony?No
BMisdemeanors2 No

In the past ten years, have you or any advisory affiliate:

  • B1Been convicted of or pleaded guilty or no contest to a misdemeanor involving investments, an investment-related business, fraud, false statements or omissions, wrongful taking of property, bribery, perjury, forgery, counterfeiting, or extortion?No
  • B2Been charged with a misdemeanor of the kind listed above?No
CSEC or CFTC actions5 No

Has the SEC or CFTC ever:

  • C1Found you or an advisory affiliate made a false statement or omission?No
  • C2Found you or an advisory affiliate violated SEC or CFTC regulations or statutes?No
  • C3Found you or an advisory affiliate caused an investment-related business to have its authorization to do business denied, suspended, revoked, or restricted?No
  • C4Entered an order against you or an advisory affiliate in connection with investment-related activity?No
  • C5Imposed a civil money penalty on you or an advisory affiliate, or ordered you or an advisory affiliate to cease and desist from any activity?No
DOther regulatory actions5 No

Has any other federal regulatory agency, state regulatory agency, or foreign financial regulatory authority ever:

  • D1Found you or an advisory affiliate made a false statement or omission, or was dishonest, unfair, or unethical?No
  • D2Found you or an advisory affiliate violated investment-related regulations or statutes?No
  • D3Found you or an advisory affiliate caused an investment-related business to have its authorization to do business denied, suspended, revoked, or restricted?No
  • D4In the past ten years, entered an order against you or an advisory affiliate in connection with investment-related activity?No
  • D5Denied, suspended, or revoked your or an advisory affiliate’s registration or license, or otherwise prevented association with an investment-related business or restricted activities?No
ESelf-regulatory organization actions4 No

Has a self-regulatory organization or commodities exchange ever:

  • E1Found you or an advisory affiliate made a false statement or omission?No
  • E2Found you or an advisory affiliate violated its rules, other than a violation designated as a minor rule violation under an SEC-approved plan?No
  • E3Found you or an advisory affiliate caused an investment-related business to have its authorization to do business denied, suspended, revoked, or restricted?No
  • E4Disciplined you or an advisory affiliate by expulsion, suspension, barring association with other members, or otherwise restricting activities?No
FProfessional authorizations1 No
  • FHas an authorization to act as an attorney, accountant, or federal contractor granted to you or an advisory affiliate ever been revoked or suspended?No
GPending regulatory proceedings1 No
  • GAre you or any advisory affiliate now the subject of a regulatory proceeding that could result in a “Yes” answer to any part of C, D, or E?No
HCivil judicial actions and proceedings4 No

(1) Court actions

Has a domestic or foreign court:

  • H(1)(a)In the past ten years, enjoined you or an advisory affiliate in connection with investment-related activity?No
  • H(1)(b)Found that you or an advisory affiliate violated investment-related statutes or regulations?No
  • H(1)(c)Dismissed, pursuant to a settlement agreement, an investment-related civil action brought against you or an advisory affiliate by a state or foreign financial regulatory authority?No

(2) Pending civil proceedings

  • H(2)Are you or any advisory affiliate now the subject of a civil proceeding that could result in a “Yes” answer to any part of H(1)?No

* Metrics are based on the latest available data, including Form ADV filings, brochures, and relationship summaries pulled from the SEC IAPD, and may be subject to change. Learn what is included in the Rialytix data. Please refer to the firm's official disclosures for the most accurate information using their CRD number. This is not investment advice.