America First Investment Advisors LLC

America First Investment Advisors (AFIA) provides discretionary portfolio management and financial planning to individuals (including high-net-worth clients), employee benefit plans, trusts, estates, charitable organizations, and other entities. The firm manages accounts using individual stocks, fixed‑income securities and money‑market funds and generally requires a minimum level of investable assets to begin a relationship.

AFIA’s equity approach emphasizes fundamental analysis—seeking well‑managed businesses available at prices below intrinsic value—and typically builds concentrated equity portfolios of roughly 15–25 positions, sometimes holding cash while deploying capital. For fixed income the firm often uses ETFs for diversification and cost efficiency, while larger accounts may hold individual Treasuries, agencies or corporate bonds; portfolio managers operate under discretionary authority and staff meet Series 65 and experience/education standards (with CFA and CFP designations among personnel).

The firm’s disclosures highlight several practices that distinguish it from many peers: AFIA uses third‑party lead generation and referral arrangements (it compensates SmartAsset and has legacy referral relationships with Schwab and TD Ameritrade) and participates in Schwab’s institutional advisor program, all of which are disclosed as potential conflicts of interest. AFIA also discloses a restricted set of clients who hold ownership interests in the holding company that owns the adviser (with amended policies permitting certain principal transactions only with prior disclosure and consent), handles standing letters of authorization that create imputed custody, and engages Chicago Clearing Corporation to process class‑action claims.