Cliffwater LLC

Cliffwater LLC is a fee-only investment adviser registered with the U.S. Securities and Exchange Commission, with its main office in Marina Del Rey, California. On its latest Form ADV, filed October 13, 2026, it reports $48.5B in regulatory assets under management, 10 individual clients and 105 employees who give investment advice. It reports no commission compensation, is not registered as a broker-dealer and does not act as an insurance agent.

Key facts from Form ADV

Registration	SEC-registered
Firm CRD number	132167 · SEC file 801-63344
Office	4640 Admiralty Way 11th Floor Marina Del Rey, CA 90292
Phone	(310) 448-5000
Website	www.cliffwaterfunds.com
Regulatory assets under management	$48.5B
Individual clients	0 non-high-net-worth, 10 high-net-worth
Financial planning clients	51-100
How it charges	Percentage of assets, Fixed fee
Services	Portfolio management, Pension consulting, Selection of other advisers
Employees	213
Disciplinary disclosures	None reported
Latest Form ADV filing	October 13, 2026

Source: the firm’s Form ADV Part 1A as published by the SEC’s Investment Adviser Public Disclosure database, data as of November 6, 2026. Figures are self-reported by the firm.

What this means for you

• It offers hourly or fixed-fee arrangements, so you may be able to pay for a plan without handing over your investments.
• It also charges a percentage of assets managed for ongoing investment management.
• Most of its individual clients are high-net-worth, which on Form ADV means they meet the SEC’s qualified-client or qualified-purchaser test: broadly, more than $1 million managed by the adviser or a net worth above $2 million, with the thresholds indexed for inflation.
• It reports no disciplinary history on Form ADV.

Before you hire any adviser

Read the firm’s Form ADV Part 2 brochure on its SEC record: it sets out fees, minimums, conflicts of interest and who will manage your money. Ask whether the firm acts as a fiduciary for all of your accounts, how it is paid in total, and who holds your assets. Our guide to choosing a financial adviser lists the questions to ask.

Other fee-only advisers in Marina Del Rey

• North Pier Fiduciary Management, LLC $1.3B
• Digital Wealth, LLC $7.2M
• Silicon Beach Wealth, LLC $190M
• Paradigm Asset Management,inc. $59M
• Ab Hhelio Associates, Inc. $43M

See all 6 fee-only advisers in Marina Del Rey →

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