# EDGAR Filing Document

**Accession Number:** 0001121881
**File Stem:** 0001121881-25-000004
**Filing Date:** 2025-6
**Character Count:** 11661
**Document Hash:** 72d3f46189975dc9f2c0e92b2788f4a3
**Contains OCR:** False
**Source Format:** 

## Filing Content

## Filing Summary
**0001121881-25-000004.hdr.sgml**: 20250609

**ACCESSION NUMBER**: 0001121881-25-000004

**CONFORMED SUBMISSION TYPE**: MA-A

**PUBLIC DOCUMENT COUNT**: 1

**CONFORMED PERIOD OF REPORT**: 20241231

**FILED AS OF DATE**: 20250606

**DATE AS OF CHANGE**: 20250609

**FILER**: 

**COMPANY DATA:**
- **COMPANY CONFORMED NAME:** COLORADO FINANCIAL SERVICE CORPORATION
- **CENTRAL INDEX KEY:** 0001121881

**ORGANIZATION NAME:**
- **EIN:** 261855173
- **STATE OF INCORPORATION:** CO
- **FISCAL YEAR END:** 1231

**FILING VALUES:**
- **FORM TYPE:** MA-A
- **SEC ACT:** 1934 Act
- **SEC FILE NUMBER:** 867-02723
- **FILM NUMBER:** 251032907

**BUSINESS ADDRESS:**
- **STREET 1:** 188 INVERNESS DRIVE WEST
- **STREET 2:** SUITE 100
- **CITY:** CENTENNIAL
- **STATE:** CO
- **ZIP:** 80112
- **BUSINESS PHONE:** 303-962-7267

**MAIL ADDRESS:**
- **STREET 1:** 188 INVERNESS DRIVE WEST
- **STREET 2:** SUITE 100
- **CITY:** CENTENNIAL
- **STATE:** CO
- **ZIP:** 80112

**FORMER COMPANY:**
- **FORMER CONFORMED NAME:** GIA FINANCIAL GROUP, L.L.C.
- **DATE OF NAME CHANGE:** 20080207

**FORMER COMPANY:**
- **FORMER CONFORMED NAME:** COLORADO FINANCIAL SERVICE CORPORATION
- **DATE OF NAME CHANGE:** 20080131

**FORMER COMPANY:**
- **FORMER CONFORMED NAME:** GIA FINANCIAL GROUP, L.L.C.
- **DATE OF NAME CHANGE:** 20050107

### UNITED STATES SECURITIES AND EXCHANGE COMMISSION
**Washington, D.C. 20549**

## FORM MA: UNIFORM APPLICATION FOR MUNICIPAL ADVISOR REGISTRATION

### Filer and Contact Information

**Filer CIK:** 0001121881

**Filer CCC:** XXXXXXXX

**Contact Name:** Chester Hebert

**Contact Phone:** 303-962-7267

**Contact Email:** chet.hebert@coloradofsc.com

**Notification Emails:** jack.thon@coloradofsc.com

### Type of Filing

**Selected Filing Type:** Annual Update

### Item 1: Identifying Information

**A. Full Legal Name of the Firm:** COLORADO FINANCIAL SERVICE CORPORATION

**&nbsp;&nbsp;&nbsp;Organization CRD No.:** 104343

**&nbsp;&nbsp;&nbsp;Is applicant a Sole Proprietor?:** No

**&nbsp;&nbsp;&nbsp;Has the municipal legal name changed since the last filing?:** No

**&nbsp;&nbsp;&nbsp;Has the applicant had any previous DBA names?:** No

**&nbsp;&nbsp;&nbsp;Does the applicant have any additional DBA names?:** No

**C. IRS Employer Identification Number:** 26-1855173

**D. Registrations:**

- **Broker-Dealer:** SEC File No: 008-52817, CRD No: 104343

- **SEC-Registered Investment Adviser:** CRD No: 104343

**E. Principal Office and Place of Business:** 188 INVERNESS DRIVE WEST, SUITE 100, CENTENNIAL, CO, 80112

**Telephone Number:** 303-962-7267

**Additional Offices of Employment:**

- **Office #1 (Add):** 140 E. 19th ave, suite700, Denver, CO, 80203 | Phone: 303-863-1900

**Mailing Address is Different from Principal Office:** No

**F. Website:** www.coloradofsc.com

**G. Chief Compliance Officer (CCO):**

**Name:** Chester Joseph Hebert

**Titles:** CEO, CCO

**Address:** 188 Inverness Drive West, suite 100, Centennial, CO, 80112

**Phone Number:** 303-962-7267

**Email:** chet.hebert@coloradofsc.com

**I. Location of Books and Records:** No

### Item 2: Form of Organization

**A. Applicant's form of organization:** Corporation

**B. Month of Applicant's Annual Fiscal Year End:** December

**C. State, Other U.S. Jurisdiction, or Foreign Jurisdiction Under Which Applicant is Organized:** CO

**D. Date of Organization:** 12-07-2000

**E. Is the applicant a public reporting company?:** No

### Item 3: Successions

**Is the applicant succeeding to the business of a registered municipal advisor?** No

### Item 4: Information About Applicant's Business

**A. Number of Employees:** 39

**B. Municipal Advisory Activities - Employees:** 1

**C. Registered Representatives - MAA Employees also registered reps of a broker-dealer:** 1

**&nbsp;&nbsp;&nbsp;MAA Employees also associated with an investment adviser:** 0

**D. Public Relations Company?:** No

**E. Soliciting on Behalf of an Affiliate - Number of firms:** 0

**F. Types of Clients - Number of clients served as municipal advisor:** 0

**&nbsp;&nbsp;&nbsp;Types of Clients:** Municipal Entities, Non-profit organizations

**G. Solicitation of Municipal Entities and Obligated Persons - Municipal Entities:** 0

**&nbsp;&nbsp;&nbsp;Obligated Persons:** 0

**&nbsp;&nbsp;&nbsp;Total Solicited:** 0

**H. Types of Persons Solicited:** 
Not Applicable
, Not Applicable

**I. Compensation Arrangements (Municipal Advisory):** 
Hourly Charges
Fixed Fees
Contingent Fees
, Hourly Charges, Fixed Fees, Contingent Fees

**J. Compensation Arrangements (Solicitation):** 
Not Applicable
, Not Applicable

**K. Does the applicant receive compensation in the context of its municipal advisory business from other than its municipal entity or obligated person clients?:** No

**L. Applicant Business Relating to Municipal Securities:** Advice Insurance Of MS, Advice Use Of MD, Advice On Selection

### Item 5: Other Business Activities

- **Broker-Dealer:** Actively Engaged: Yes, Primary Business: Yes

- **Insurance:** Actively Engaged: Yes, Primary Business: —

- **Investment Advisor:** Actively Engaged: Yes, Primary Business: —

**Is applicant engaged in any other non-municipal advisor business?** No

### Item 6: Financial Industry and Other Activities of Associated Persons

**Types of associated persons:** 

**Total Associated Persons:** 0

### Item 7: Participation or Interest in Client Transactions

- **Buy or sell municipal securities from or to municipal advisory clients for the firm's own account?:** No

- **Buy or sell municipal securities from or to third-parties on behalf of clients?:** No

- **Enter into derivatives transactions with clients for the firm's own account?:** No

- **Recommend to clients to buy/sell securities in which the firm has a financial interest?:** No

- **Recommend to clients products/services of an affiliated person?:** No

- **Recommend to clients securities of an issuer with which the firm has other relationships?:** No

- **Have discretionary authority to buy/sell municipal securities for clients?:** No

- **Have discretionary authority to buy/sell any other securities or investments for clients?:** No

- **Have discretionary authority to determine the broker-dealer to be used for client transactions?:** No

- **Have discretionary authority to determine the commission paid to a broker-dealer?:** No

- **Recommend broker-dealers to clients?:** No

- **&nbsp;&nbsp;&nbsp;If yes, are any of these broker-dealers an associated person of the applicant?:** —

- **Compensate any person for client referrals?:** No

- **Receive compensation from any person for client referrals?:** No

### Item 8: Owners, Officers, and Other Control Persons

**A. (2) Does any person not named in Item 1-A or Schedules A, B, or C, directly or indirectly, control the applicant's management or policies?** No

**B. (1) Is any person in Schedule A, B, or C, or in Section 8-A of Schedule D a public reporting company?** No

### Item 9: Disclosure Information

**Criminal Disclosure:**

- **Applicant/Advisory Affiliate Convicted/Pled Guilty to Felony?:** No

- **Applicant/Advisory Affiliate Charged with Felony?:** No

- **Organization Convicted/Pled Guilty to Felony?:** No

- **Organization Charged with Felony?:** No

**Regulatory Disclosure:**

- **SEC/CFTC Found False Statement?:** No

- **SEC/CFTC Found Violation?:** Yes

- **SEC/CFTC Found Cause of Denial/Suspension?:** No

- **SEC/CFTC Entered Order?:** Yes

- **SEC/CFTC Imposed Civil Penalty?:** Yes

- **SRO Found Unethical Conduct?:** No

- **SRO Found Violation?:** No

- **SRO Found Cause of Denial/Suspension?:** No

- **SRO Barred/Suspended/Fined > $2,500?:** No

- **SRO Denied/Suspended/Revoked Registration?:** No

- **Foreign Authority Found False Statement?:** No

- **Foreign Authority Found Violation?:** Yes

- **Foreign Authority Found Cause of Suspension?:** No

- **Foreign Authority Disciplined?:** No

- **Authorization to Act as Attorney/Accountant Revoked?:** No

- **Subject of a Regulatory Complaint?:** No

**Civil Disclosure:**

- **Enjoined in Connection with Municipal Advisory Activity?:** No

- **Found to Have Violated Regulations?:** No

- **Civil Proceeding Dismissed Pursuant to Settlement?:** No

- **Named in Civil Proceeding Alleging Violation?:** No

### Item 10: Small Businesses

**Does the applicant have annual receipts of less than $7,000,000?** Yes

**Is the applicant affiliated with a person that has annual receipts of more than $7,000,000?** No

### Schedule A: Direct Owners and Executive Officers

| Name                          | Title/Status   | Date Acquired   | Ownership Code    | Control Person?   | IRS Number   | CRD Number   |
|:---|:---|:---|:---|:---|:---|:---|
| Colorado National Corporation | Owner          | 11-01-2007      | E - 75% or more   | Yes               | 20-0934129   |  |
| Chester Joseph Hebert         | CEO            | 11-01-2013      | NA - less than 5% | Yes               |  | 1678446      |
| Jameson O'Brien Thon          | President      | 02-01-2023      | NA - less than 5% | Yes               |  | 7015002      |

### Schedule B: Indirect Owners

| Owning Entity                    | Name                             | Title/Status   | Date Acquired   | Ownership Code   | Control Person?   | IRS Number   |
|:---|:---|:---|:---|:---|:---|:---|
| Colorado National Corporation    | Chester J Hebert Revocable Trust | Owner          | 11-01-2021      | E - 75% or more  | No                | 43-7826356   |
| Chester J Hebert Revocable Trust | Chester Joseph Hebert            | Trustee        | 11-01-2021      | E - 75% or more  | Yes               |  |

### Schedule C: Amendments to Schedules A and B

| Type   | Ownership   | Owning Entity                    | Name                             | Title/Status   | Date Acquired   | Ownership Code    | Control Person?   | IRS Number   | CRD Number   |
|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|
|  | Direct      |  | Colorado National Corporation    | Owner          | 11-01-2007      | E - 75% or more   | Yes               | 20-0934129   |  |
|  | Indirect    | Colorado National Corporation    | Chester J Hebert Revocable Trust | Owner          | 11-01-2021      | E - 75% or more   | No                | 43-7826356   |  |
|  | Direct      |  | Chester Joseph Hebert            | CEO            | 11-01-2013      | NA - less than 5% | Yes               |  | 1678446      |
|  | Direct      |  | Jameson O'Brien Thon             | President      | 02-01-2023      | NA - less than 5% | Yes               |  | 7015002      |
|  | Indirect    | Chester J Hebert Revocable Trust | Chester Joseph Hebert            | Trustee        | 11-01-2021      | E - 75% or more   | Yes               |  | 000000000    |

### Disclosure Reporting Pages (DRPs)

**Regulatory DRP for: Applicant (Responding to Questions: 9-C2, 9-C4, 9-C5)**

- **Filed On (Applicant):** Form ADV/BD/U4 for Colorado Financial Service Corporation

- **CRD Number:** 104343

- **Disclosure Number:** 1724687

**Regulatory DRP for: Applicant (Responding to Questions: 9-E2)**

- **Filed On (Applicant):** Form ADV/BD/U4 for Colorado Financial Service Corporation

- **CRD Number:** 104343

- **Disclosure Number:** 1693324

**Regulatory DRP for: Applicant (Responding to Questions: 9-E2)**

- **Filed On (Applicant):** Form ADV/BD/U4 for Colorado Financial Service Corporation

- **CRD Number:** 104343

- **Disclosure Number:** 2358330

### Execution Page

**Signature:** Adam Woodworth

**Signer Name:** Adam Woodworth

**Title:** Compliance Officer

**Date:** 06-06-2025

**CRD Number:** 6952982