NOTE ADVISORS, LLC

CRD 171466File 801-79807

APPROVED

Retail clients

Filing as of Mar 30, 2026

Feed vintage Oct 1, 2026

Regulatory AUM

$437.0M

Below cohort median (national)

Discretionary AUM

$436.6M

Non-discretionary $358K

Clients

542

1,183 accounts

Employees

Below cohort median in NY

Identity & registration

ADV Item 1

Organization form: Limited Liability Company
Firm type: Registered
SEC region: NYRO
Registration date: May 27, 2014
Principal office: 50 LAKEFRONT BLVD, SUITE 215, BUFFALO, NY, 14202
Phone: (716) 256-1682
Website: HTTP://WWW.NOTEADVISOR.COM

Assets & accounts

ADV Item 5F

Total regulatory AUM: $437.0M
Discretionary AUM: $436.6M
Non-discretionary AUM: $358K
Discretionary accounts: 1,170
Non-discretionary accounts: 13
Total accounts: 1,183
AUM per client: $806K

Clients by type

ADV Item 5D

Client type	Clients	AUM
High net worth individuals	53	$191.1M
Pension and profit sharing plans	24	$72.5M
Individuals (other than high net worth individuals)	465	$173.4M

Compensation & activities

ADV Items 5E, 5G

Compensation

Fixed fees
Hourly charges
A percentage of assets under your management

Advisory activities

Financial planning services
Selection of other advisers
Portfolio management for individuals and/or small businesses

Custody

ADV Item 9

Firm Custody Cash: No
Firm Custody Assets: No
Firm Custody Clients: No
Firm Custody Securities: No
Related Person Custody Cash: No
Related Person Custody Assets: No
Related Person Custody Clients: No
Related Person Custody Securities: No

Disclosure events

ADV Item 11

This firm answered no to every Item 11 disclosure question in this filing.

Filed changes

Date	Field	From	To	Change
Apr 1, 2026	Employees	9	11	increased by2
Apr 1, 2026	Clients	512	542	increased by30
Apr 1, 2026	AUM	$382,234,812	$436,965,505	increased by$54,730,693
Apr 1, 2026	Accounts	1,010	1,183	increased by173
May 1, 2025 vs Oct 1, 2022	Employees	8	9	increased by1
May 1, 2025 vs Oct 1, 2022	Clients	385	512	increased by127
May 1, 2025 vs Oct 1, 2022	AUM	$196,834,060	$382,234,812	increased by$185,400,752
May 1, 2025 vs Oct 1, 2022	Accounts	828	1,010	increased by182
Apr 1, 2022	Employees	6	8	increased by2
Apr 1, 2022	Clients	374	385	increased by11
Apr 1, 2022	AUM	$142,916,871	$196,834,060	increased by$53,917,189
Apr 1, 2022	Accounts	728	828	increased by100
Apr 1, 2021	Registration	—	APPROVED

On Form 5500, an adviser usually appears as a plan service provider (Schedule C), not the plan sponsor.

See plans that list “NOTE ADVISORS” as a service provider on 5500mcp →

Matched by name only — Form ADV and Form 5500 share no identifier, and names are searched loosely (“NOTE ADVISORS” may also match similarly-named firms). Confirm identity against each filing.

Every value above is reproduced from this firm's Form ADV filing. Fields the firm left blank are shown as “Not reported” rather than filled in from other sources.