# Fee-only financial advisors in Maryland

> Find financial advisors in Maryland who are paid only by client fees. AdvisorCensus lists 218 investment advisory firms with a principal office in Maryland that meet AdvisorCensus's fee-only test: paid only by client fees on Form ADV Item 5.E, with no employee registered with a broker-dealer or licensed as an insurance agent, no brokerage, insurance, or real estate sales business or related company, and no referral fees from others, as of October 2026. Firms are listed alphabetically. Sort by years registered or by assets under management, and see how this page is built below.

Updated October 2026. Rebuilt monthly. HTML page: https://advisorcensus.com/advisors/md/fee-only/page/2

## At a glance

- Investment advisory firms: 218
- Registration: SEC-registered investment adviser: 73, State-registered investment adviser: 145
- How firms are compensated (Form ADV Item 5.E; shares of the firms that file it): Fee-only (AdvisorCensus test) 218 (100%); Percentage of assets 191 (88%); Hourly charges 112 (51%); Subscription fees (newsletter or periodical) 3 (1%); Fixed fees 136 (62%)
- Regulatory assets under management (Item 5.F): Under $25 million 73 (33%); $25 million to $100 million 44 (20%); $100 million to $500 million 46 (21%); $500 million to $1 billion 14 (6%); $1 billion to $5 billion 12 (6%); Over $5 billion 2 (1%); Not reported 27 (12%)
- Years registered: Under 5 years 63 (29%); 5 to 9 years 47 (22%); 10 to 19 years 62 (28%); 20 years or more 46 (21%)

## Firms (page 2 of 5, 51 to 100 of 218, sorted by name)

| Firm | CRD | City | Registration | Assets band | Years registered | Compensation |
| --- | --- | --- | --- | --- | --- | --- |
| [Clear Advisors](https://advisorcensus.com/firm/clear-advisors-342564) ([md](https://advisorcensus.com/firm/clear-advisors-342564.md)) | 342564 | Not reported, Not reported | State-registered investment adviser | Under $25 million | 0 | Hourly, Fixed fee |
| [Compound Advisory](https://advisorcensus.com/firm/compound-advisory-334484) ([md](https://advisorcensus.com/firm/compound-advisory-334484.md)) | 334484 | Not reported, Not reported | State-registered investment adviser | Under $25 million | 1 | % of assets |
| [Cornerstone Financial Planning, Inc.](https://advisorcensus.com/firm/cornerstone-financial-planning-inc-121413) ([md](https://advisorcensus.com/firm/cornerstone-financial-planning-inc-121413.md)) | 121413 | Not reported, Not reported | State-registered investment adviser | Not reported | 27 | Fixed fee |
| [Councilor Wealth LLC](https://advisorcensus.com/firm/councilor-wealth-llc-bethesda-md-170858) ([md](https://advisorcensus.com/firm/councilor-wealth-llc-bethesda-md-170858.md)) | 170858 | Bethesda, MD | SEC-registered investment adviser | $100 million to $500 million | 9 | % of assets, Hourly, Fixed fee |
| [Crest Wealth Advisors LLC](https://advisorcensus.com/firm/crest-wealth-advisors-llc-annapolis-md-311760) ([md](https://advisorcensus.com/firm/crest-wealth-advisors-llc-annapolis-md-311760.md)) | 311760 | Annapolis, MD | State-registered investment adviser | $25 million to $100 million | 6 | % of assets, Fixed fee |
| [Cristata Investment Management](https://advisorcensus.com/firm/cristata-investment-management-woodstock-md-148503) ([md](https://advisorcensus.com/firm/cristata-investment-management-woodstock-md-148503.md)) | 148503 | Woodstock, MD | State-registered investment adviser | $25 million to $100 million | 14 | % of assets |
| [Cromwell Investment Advisory, LLC](https://advisorcensus.com/firm/cromwell-investment-advisory-llc-college-park-md-152360) ([md](https://advisorcensus.com/firm/cromwell-investment-advisory-llc-college-park-md-152360.md)) | 152360 | College Park, MD | State-registered investment adviser | Under $25 million | 15 | % of assets, Hourly |
| [Curio Wealth, LLC](https://advisorcensus.com/firm/curio-wealth-llc-annapolis-md-328178) ([md](https://advisorcensus.com/firm/curio-wealth-llc-annapolis-md-328178.md)) | 328178 | Annapolis, MD | SEC-registered investment adviser | $100 million to $500 million | 2 | % of assets, Hourly, Fixed fee |
| [CWM Financial Group, Inc.](https://advisorcensus.com/firm/cwm-financial-group-inc-rockville-md-117255) ([md](https://advisorcensus.com/firm/cwm-financial-group-inc-rockville-md-117255.md)) | 117255 | Rockville, MD | State-registered investment adviser | $25 million to $100 million | 14 | % of assets, Hourly, Fixed fee |
| [Deak Reynolds Company](https://advisorcensus.com/firm/deak-reynolds-company-168714) ([md](https://advisorcensus.com/firm/deak-reynolds-company-168714.md)) | 168714 | Not reported, Not reported | State-registered investment adviser | $25 million to $100 million | 12 | % of assets |
| [Dependent Financial Planning](https://advisorcensus.com/firm/dependent-financial-planning-edgewater-md-330273) ([md](https://advisorcensus.com/firm/dependent-financial-planning-edgewater-md-330273.md)) | 330273 | Edgewater, MD | State-registered investment adviser | $25 million to $100 million | 2 | % of assets, Hourly, Fixed fee |
| [Docempowered, LLC](https://advisorcensus.com/firm/docempowered-llc-baltimore-md-331732) ([md](https://advisorcensus.com/firm/docempowered-llc-baltimore-md-331732.md)) | 331732 | Baltimore, MD | State-registered investment adviser | Not reported | 2 | Hourly, Fixed fee |
| [Docshah Financial, LLC](https://advisorcensus.com/firm/docshah-financial-llc-327709) ([md](https://advisorcensus.com/firm/docshah-financial-llc-327709.md)) | 327709 | Not reported, Not reported | State-registered investment adviser | Under $25 million | 3 | % of assets, Fixed fee |
| [Dyer Financial Advisory](https://advisorcensus.com/firm/dyer-financial-advisory-towson-md-123262) ([md](https://advisorcensus.com/firm/dyer-financial-advisory-towson-md-123262.md)) | 123262 | Towson, MD | State-registered investment adviser | Under $25 million | 23 | % of assets, Hourly, Fixed fee |
| [East Bay Equities LLC](https://advisorcensus.com/firm/east-bay-equities-llc-169822) ([md](https://advisorcensus.com/firm/east-bay-equities-llc-169822.md)) | 169822 | Not reported, Not reported | State-registered investment adviser | Under $25 million | 12 | % of assets |
| [Edgemoor Investment Advisors, Inc.](https://advisorcensus.com/firm/edgemoor-investment-advisors-inc-bethesda-md-109104) ([md](https://advisorcensus.com/firm/edgemoor-investment-advisors-inc-bethesda-md-109104.md)) | 109104 | Bethesda, MD | SEC-registered investment adviser | $1 billion to $5 billion | 26 | % of assets |
| [EJL Asset Management, LLC](https://advisorcensus.com/firm/ejl-asset-management-llc-157504) ([md](https://advisorcensus.com/firm/ejl-asset-management-llc-157504.md)) | 157504 | Not reported, Not reported | State-registered investment adviser | $25 million to $100 million | 2 | % of assets |
| [Elbrus Partners, LLC](https://advisorcensus.com/firm/elbrus-partners-llc-towson-md-289160) ([md](https://advisorcensus.com/firm/elbrus-partners-llc-towson-md-289160.md)) | 289160 | Towson, MD | State-registered investment adviser | Under $25 million | 8 | % of assets |
| [Equip, LLC](https://advisorcensus.com/firm/equip-llc-baltimore-md-331323) ([md](https://advisorcensus.com/firm/equip-llc-baltimore-md-331323.md)) | 331323 | Baltimore, MD | State-registered investment adviser | Under $25 million | 1 | % of assets, Hourly, Fixed fee |
| [Expect Equity LLC](https://advisorcensus.com/firm/expect-equity-llc-pikesville-md-324496) ([md](https://advisorcensus.com/firm/expect-equity-llc-pikesville-md-324496.md)) | 324496 | Pikesville, MD | SEC-registered investment adviser | $100 million to $500 million | 0 | % of assets |
| [FBB Capital Partners](https://advisorcensus.com/firm/fbb-capital-partners-bethesda-md-108967) ([md](https://advisorcensus.com/firm/fbb-capital-partners-bethesda-md-108967.md)) | 108967 | Bethesda, MD | SEC-registered investment adviser | $1 billion to $5 billion | 26 | % of assets, Hourly, Fixed fee |
| [Ferguson-Johnson Wealth Management, Inc.](https://advisorcensus.com/firm/ferguson-johnson-wealth-management-inc-rockville-md-109232) ([md](https://advisorcensus.com/firm/ferguson-johnson-wealth-management-inc-rockville-md-109232.md)) | 109232 | Rockville, MD | SEC-registered investment adviser | $100 million to $500 million | 27 | % of assets, Hourly |
| [Financial Consulate](https://advisorcensus.com/firm/financial-consulate-hunt-valley-md-106898) ([md](https://advisorcensus.com/firm/financial-consulate-hunt-valley-md-106898.md)) | 106898 | Hunt Valley, MD | SEC-registered investment adviser | $1 billion to $5 billion | 43 | % of assets, Hourly, Fixed fee |
| [Financial Management Strategies, LLC](https://advisorcensus.com/firm/financial-management-strategies-llc-baltimore-md-122347) ([md](https://advisorcensus.com/firm/financial-management-strategies-llc-baltimore-md-122347.md)) | 122347 | Baltimore, MD | State-registered investment adviser | $100 million to $500 million | 26 | % of assets, Hourly, Fixed fee |
| [Financial Positioning System, Inc](https://advisorcensus.com/firm/financial-positioning-system-inc-derwood-md-165756) ([md](https://advisorcensus.com/firm/financial-positioning-system-inc-derwood-md-165756.md)) | 165756 | Derwood, MD | State-registered investment adviser | Under $25 million | 13 | % of assets, Subscription |
| [First Perspective Capital LLC](https://advisorcensus.com/firm/first-perspective-capital-llc-national-harbor-md-330353) ([md](https://advisorcensus.com/firm/first-perspective-capital-llc-national-harbor-md-330353.md)) | 330353 | National Harbor, MD | State-registered investment adviser | Under $25 million | 2 | % of assets, Hourly, Fixed fee |
| [Five Rivers Financial Advisors, LLC](https://advisorcensus.com/firm/five-rivers-financial-advisors-llc-north-east-md-120249) ([md](https://advisorcensus.com/firm/five-rivers-financial-advisors-llc-north-east-md-120249.md)) | 120249 | North East, MD | State-registered investment adviser | $25 million to $100 million | 26 | % of assets, Hourly, Fixed fee |
| [Flexible Finances](https://advisorcensus.com/firm/flexible-finances-312849) ([md](https://advisorcensus.com/firm/flexible-finances-312849.md)) | 312849 | Not reported, Not reported | State-registered investment adviser | Not reported | 5 | Hourly, Fixed fee |
| [Flynn Capital Management LLC](https://advisorcensus.com/firm/flynn-capital-management-llc-155726) ([md](https://advisorcensus.com/firm/flynn-capital-management-llc-155726.md)) | 155726 | Not reported, Not reported | State-registered investment adviser | Under $25 million | 15 | % of assets |
| [Foresight Financial Services, LLC](https://advisorcensus.com/firm/foresight-financial-services-llc-laurel-md-312958) ([md](https://advisorcensus.com/firm/foresight-financial-services-llc-laurel-md-312958.md)) | 312958 | Laurel, MD | State-registered investment adviser | Under $25 million | 5 | % of assets, Hourly, Fixed fee |
| [Fortunenavi Capital Inc.](https://advisorcensus.com/firm/fortunenavi-capital-inc-potomac-md-299093) ([md](https://advisorcensus.com/firm/fortunenavi-capital-inc-potomac-md-299093.md)) | 299093 | Potomac, MD | State-registered investment adviser | Not reported | 7 | % of assets, Fixed fee |
| [Foundry Wealth Advisors, LLC](https://advisorcensus.com/firm/foundry-wealth-advisors-llc-baltimore-md-300794) ([md](https://advisorcensus.com/firm/foundry-wealth-advisors-llc-baltimore-md-300794.md)) | 300794 | Baltimore, MD | SEC-registered investment adviser | $100 million to $500 million | 5 | % of assets, Hourly, Fixed fee |
| [Foxgrover Investment Partners](https://advisorcensus.com/firm/foxgrover-investment-partners-339517) ([md](https://advisorcensus.com/firm/foxgrover-investment-partners-339517.md)) | 339517 | Not reported, Not reported | State-registered investment adviser | Under $25 million | 0 | % of assets, Fixed fee |
| [Free State Financial Planning, LLC](https://advisorcensus.com/firm/free-state-financial-planning-llc-highland-md-330089) ([md](https://advisorcensus.com/firm/free-state-financial-planning-llc-highland-md-330089.md)) | 330089 | Highland, MD | State-registered investment adviser | Not reported | 2 | Hourly, Fixed fee |
| [FSA Wealth Partners](https://advisorcensus.com/firm/fsa-wealth-partners-rockville-md-104513) ([md](https://advisorcensus.com/firm/fsa-wealth-partners-rockville-md-104513.md)) | 104513 | Rockville, MD | SEC-registered investment adviser | $500 million to $1 billion | 43 | % of assets, Hourly, Fixed fee |
| [Glassy Mountain Advisors, Inc.](https://advisorcensus.com/firm/glassy-mountain-advisors-inc-bethesda-md-314937) ([md](https://advisorcensus.com/firm/glassy-mountain-advisors-inc-bethesda-md-314937.md)) | 314937 | Bethesda, MD | SEC-registered investment adviser | $100 million to $500 million | 5 | % of assets |
| [Greenspring Advisors, LLC](https://advisorcensus.com/firm/greenspring-advisors-llc-towson-md-132669) ([md](https://advisorcensus.com/firm/greenspring-advisors-llc-towson-md-132669.md)) | 132669 | Towson, MD | SEC-registered investment adviser | Over $5 billion | 19 | % of assets, Fixed fee |
| [Groff Wealth Management](https://advisorcensus.com/firm/groff-wealth-management-sparks-md-339984) ([md](https://advisorcensus.com/firm/groff-wealth-management-sparks-md-339984.md)) | 339984 | Sparks, MD | State-registered investment adviser | Under $25 million | 0 | % of assets |
| [H. Elliot Associates](https://advisorcensus.com/firm/h-elliot-associates-rockville-md-343532) ([md](https://advisorcensus.com/firm/h-elliot-associates-rockville-md-343532.md)) | 343532 | Rockville, MD | State-registered investment adviser | Not reported | 0 | % of assets, Hourly, Subscription, Fixed fee |
| [Harmony Wealth Advisors, LLC](https://advisorcensus.com/firm/harmony-wealth-advisors-llc-edgewater-md-315465) ([md](https://advisorcensus.com/firm/harmony-wealth-advisors-llc-edgewater-md-315465.md)) | 315465 | Edgewater, MD | State-registered investment adviser | Under $25 million | 5 | % of assets, Fixed fee |
| [HDS Capital Management, Inc](https://advisorcensus.com/firm/hds-capital-management-inc-107424) ([md](https://advisorcensus.com/firm/hds-capital-management-inc-107424.md)) | 107424 | Not reported, Not reported | State-registered investment adviser | $25 million to $100 million | 14 | % of assets |
| [Heritage Investors Management Corp](https://advisorcensus.com/firm/heritage-investors-management-corp-bethesda-md-110420) ([md](https://advisorcensus.com/firm/heritage-investors-management-corp-bethesda-md-110420.md)) | 110420 | Bethesda, MD | SEC-registered investment adviser | $1 billion to $5 billion | 51 | % of assets, Hourly, Fixed fee |
| [Houstoun Capital Management, Inc.](https://advisorcensus.com/firm/houstoun-capital-management-inc-bethesda-md-117496) ([md](https://advisorcensus.com/firm/houstoun-capital-management-inc-bethesda-md-117496.md)) | 117496 | Bethesda, MD | State-registered investment adviser | $25 million to $100 million | 14 | % of assets |
| [HR Investment Consultants, Inc.](https://advisorcensus.com/firm/hr-investment-consultants-inc-baltimore-md-115623) ([md](https://advisorcensus.com/firm/hr-investment-consultants-inc-baltimore-md-115623.md)) | 115623 | Baltimore, MD | State-registered investment adviser | Not reported | 35 | Hourly, Fixed fee |
| [Hussman Strategic Advisors Inc](https://advisorcensus.com/firm/hussman-strategic-advisors-inc-ellicott-city-md-109400) ([md](https://advisorcensus.com/firm/hussman-strategic-advisors-inc-ellicott-city-md-109400.md)) | 109400 | Ellicott City, MD | SEC-registered investment adviser | $500 million to $1 billion | 26 | % of assets |
| [HZ Investments Inc.](https://advisorcensus.com/firm/hz-investments-inc-chevy-chase-md-312268) ([md](https://advisorcensus.com/firm/hz-investments-inc-chevy-chase-md-312268.md)) | 312268 | Chevy Chase, MD | SEC-registered investment adviser | $500 million to $1 billion | 5 | % of assets |
| [Impact Capital, LLC](https://advisorcensus.com/firm/impact-capital-llc-rockville-md-297413) ([md](https://advisorcensus.com/firm/impact-capital-llc-rockville-md-297413.md)) | 297413 | Rockville, MD | SEC-registered investment adviser | $100 million to $500 million | 4 | % of assets, Fixed fee |
| [Impact Financial Life Planning LLC](https://advisorcensus.com/firm/impact-financial-life-planning-llc-325805) ([md](https://advisorcensus.com/firm/impact-financial-life-planning-llc-325805.md)) | 325805 | Not reported, Not reported | State-registered investment adviser | Under $25 million | 3 | Hourly, Fixed fee |
| [Impactassets Capital Partners PB LLC](https://advisorcensus.com/firm/impactassets-capital-partners-pb-llc-bethesda-md-317840) ([md](https://advisorcensus.com/firm/impactassets-capital-partners-pb-llc-bethesda-md-317840.md)) | 317840 | Bethesda, MD | SEC-registered investment adviser | $1 billion to $5 billion | 4 | % of assets, Subscription, Fixed fee |
| [Inaltis Capital Management, LLC](https://advisorcensus.com/firm/inaltis-capital-management-llc-bethesda-md-159923) ([md](https://advisorcensus.com/firm/inaltis-capital-management-llc-bethesda-md-159923.md)) | 159923 | Bethesda, MD | State-registered investment adviser | $25 million to $100 million | 13 | % of assets, Hourly, Fixed fee |

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## Questions people ask

**How many financial advisory firms are there in Maryland?**
AdvisorCensus lists 582 investment advisory firms with a principal office in Maryland, from Form ADV filings as of October 2026: 230 SEC-registered, 289 state-registered, and 63 exempt reporting advisers. Firms may request removal, so the count can differ slightly from the number of firms that file Form ADV.

**How many fee-only financial advisors are in Maryland?**
218 of the 582 firms meet AdvisorCensus's fee-only test: paid only by a percentage of assets, hourly charges, fixed fees, or subscription fees on Form ADV Item 5.E (no commissions, performance-based fees, or other compensation), with no sales-related compensation ties in the same filing: no employee registered with a broker-dealer or licensed as an insurance agent (Item 5.B), no brokerage, insurance, real estate, or other product sales business (Item 6.A), no related broker-dealer, insurance company, real estate broker, or futures commission merchant (Item 7.A), and no referral fees from others or other sales interest (Item 8). Form ADV has no fee-only box, so this is derived from the filing; it is not a fee-only certification, and a firm's own page lists its compensation arrangements as filed.

**How many financial advisors in Maryland offer financial planning?**
331 of the 519 firms in Maryland that answer Form ADV Item 5.G, which asks what advisory services a firm provides, report financial planning services, as of October 2026. Exempt reporting advisers do not answer Item 5.G. Each firm page lists every advisory service the firm reports.

**Are the financial advisors in Maryland fiduciaries?**
Every firm on this page is an investment adviser that files Form ADV, and an investment adviser owes its clients a fiduciary duty under federal law, made up of a duty of care and a duty of loyalty: it must act in the client's best interest and not put its own interests ahead of the client's, and must eliminate its conflicts of interest or disclose them fully and fairly. Form ADV has no fiduciary box because the duty comes with being an investment adviser. The duty covers the firm's advice; a firm or its people may also sell securities through a broker-dealer or insurance as licensed agents, roles held to other standards. The 218 firms that meet AdvisorCensus's fee-only test report none of those sales ties.

**How do I check whether a financial advisor has disciplinary disclosures?**
Each firm page shows how many Form ADV Item 11 disciplinary questions the firm answered yes and links to the firm's record on the SEC's Investment Adviser Public Disclosure site (adviserinfo.sec.gov), where the detail of each disclosure is public. Individual advisers' records are on the same site and on FINRA BrokerCheck.

**Does AdvisorCensus rate, verify, or recommend these firms?**
No. The directory shows what each firm filed, in alphabetical order unless you choose another sort, and no firm's position depends on payment. Firms that claim their page can add a description and links, marked as provided by the firm; the filed facts are never changed by that content.

**What does regulatory assets under management mean?**
Regulatory assets under management (RAUM) is the figure a firm reports on Form ADV Item 5.F: the securities portfolios it provides continuous and regular supervisory or management services for, at market value, including assets managed without discretion. It measures scale, not performance or quality.

## Related pages

- [Financial advisors in Maryland](https://advisorcensus.com/advisors/md) (https://advisorcensus.com/advisors/md.md)
- [Flat-fee financial advisors in Maryland](https://advisorcensus.com/advisors/md/flat-fee) (https://advisorcensus.com/advisors/md/flat-fee.md)
- [Hourly financial advisors in Maryland](https://advisorcensus.com/advisors/md/hourly) (https://advisorcensus.com/advisors/md/hourly.md)
- [Fee-only financial advisors in Baltimore, MD](https://advisorcensus.com/advisors/md/baltimore/fee-only) (https://advisorcensus.com/advisors/md/baltimore/fee-only.md)
- [Fee-only financial advisors in Salisbury, MD](https://advisorcensus.com/advisors/md/salisbury/fee-only) (https://advisorcensus.com/advisors/md/salisbury/fee-only.md)

Cite as: AdvisorCensus. Fee-only financial advisors in Maryland: 218 firms from Form ADV filings as of October 2026.