# Advocacy Wealth Management, LLC

> Advocacy Wealth Management, LLC is an SEC-registered investment advisory firm in Atlanta, GA, registered since 2013, reporting $1 billion to $5 billion in regulatory assets under management in its Form ADV filing dated August 3, 2026.

- CRD: 141943
- Filed as: ADVOCACY WEALTH MANAGEMENT, LLC
- Also doing business as: MONTAG & CALDWELL, AN ADVOCACY WEALTH COMPANY
- Registration: SEC-registered investment adviser (status as filed: Approved)
- Location: Atlanta, GA
- Filing period: October 2026
- Form ADV filing dated: August 3, 2026
- SEC record (IAPD): https://adviserinfo.sec.gov/firm/summary/141943
- AdvisorCensus page: https://advisorcensus.com/firm/advocacy-wealth-management-llc-atlanta-ga-141943

## Quick answers

**How is Advocacy Wealth Management, LLC compensated?**
On its Form ADV (Item 5.E, October 2026), Advocacy Wealth Management, LLC reports these compensation arrangements: a percentage of assets under its management.

**Where is Advocacy Wealth Management, LLC located?**
Advocacy Wealth Management, LLC's principal office is in Atlanta, GA, according to its Form ADV; the September 2026 filing also lists 5 other offices (Schedule D, Section 1.F).

**Is Advocacy Wealth Management, LLC registered with the SEC or a state?**
Advocacy Wealth Management, LLC is an SEC-registered investment advisory firm, registered since 2013. Status as filed: Approved. CRD 141943.

**How much does Advocacy Wealth Management, LLC manage?**
Advocacy Wealth Management, LLC reports $3,244,894,203 in regulatory assets under management in its Form ADV filing dated August 3, 2026 (97% discretionary).

**How have Advocacy Wealth Management, LLC's assets and staff changed since 2021?**
In the Form ADV data for Advocacy Wealth Management, LLC: Regulatory assets under management: $942,307,346 in the October 2021 data and $3,244,894,203 in the October 2026 data, up 244%. Total employees: 20 in October 2021 and 36 in October 2026. Assets under management move with markets as well as with clients coming and going.

**What types of clients does Advocacy Wealth Management, LLC serve?**
By number of clients on Form ADV Item 5.D: individuals (other than high net worth individuals) (1,009); high net worth individuals (649); corporations or other businesses not listed above (48).

**Which custodians does Advocacy Wealth Management, LLC use?**
Advocacy Wealth Management, LLC's most recent Form ADV filing (Schedule D, Section 5.K(3)) lists Charles Schwab & Co., Inc., National Financial Services LLC and Reliance Trust Company as custodians holding 10% or more of its separately managed account assets.

**Does Advocacy Wealth Management, LLC report any disciplinary disclosures?**
Reports no disclosure items on Form ADV Item 11. The detail of any item is on the firm's SEC record: https://adviserinfo.sec.gov/firm/summary/141943

**What changed in Advocacy Wealth Management, LLC's recent Form ADV filings?**
In the September 2026 filing data: Updated its list of owners and control persons (Schedule A).

## From the Form ADV filing

### Compensation (Item 5.E)
- A percentage of assets under your management

### Custodians (Schedule D, Section 5.K(3))
- Charles Schwab & Co., Inc.
- National Financial Services LLC
- Reliance Trust Company

Custodians holding 10% or more of the firm's separately managed account assets, as filed on Form ADV (Schedule D, Section 5.K(3)). A custodian holds client assets; it does not endorse or supervise the firm. AdvisorCensus has no relationship with any custodian.

### Regulatory assets under management (Item 5.F)
- Total: $3,244,894,203
- Discretionary: $3,139,118,792
- Non-discretionary: $105,775,411

### Clients (Item 5.D)

| Client type | Clients | Assets |
| --- | --- | --- |
| Individuals (other than high net worth individuals) | 1,009 | $492,345,346 |
| High net worth individuals | 649 | $2,254,980,718 |
| Banking or thrift institutions | 0 | $0 |
| Investment companies | 0 | $0 |
| Business development companies | 0 | $0 |
| Pooled investment vehicles (other than investment companies and business development companies) | 0 | $0 |
| Pension and profit sharing plans (but not the plan participants or government pension plans) | Fewer than 5 | $3,564,900 |
| Charitable organizations | 14 | $351,110,730 |
| State or municipal government entities (including government pension plans) | 0 | $0 |
| Other investment advisers | 0 | $0 |
| Insurance companies | 0 | $0 |
| Sovereign wealth funds and foreign official institutions | 0 | $0 |
| Corporations or other businesses not listed above | 48 | $142,892,509 |
| Other | 0 | $0 |

### Advisory services (Item 5.G)
- Financial planning services
- Portfolio management for individuals and/or small businesses
- Portfolio management for businesses (other than small businesses) or institutional clients
- Selection of other advisers (including private fund managers)

### Firm details
- Registered since: 2013 (13 years)
- Employees: 36 total, 26 performing advisory functions
- Wrap fee program participation: Yes
- States registered or notice-filed: AL, AR, CA, CO, CT, FL, GA, HI, IL, IN, KS, KY, LA, MA, MI, MN, MO, MS, NC, NJ, NY, OH, PA, SC, TN, TX, UT, VA, WI, WV
- Disclosures (Item 11): Reports no disclosure items on Form ADV Item 11.

### Other offices (Schedule D, Section 1.F), as of the September 2026 filing
- Atlanta, GA
- Columbia, SC
- Enfield, CT
- Hartwell, GA
- Mooresville, NC

### Websites listed on Form ADV (Item 1.I)
- advocacywealth.com
- montag.com

## Assets and staff over time

| Data period | Regulatory assets under management | Employees | Filing dated |
| --- | --- | --- | --- |
| October 2021 | $942,307,346 | 20 | March 29, 2021 |
| October 2022 | $1,114,785,370 | 27 | March 30, 2022 |
| October 2023 | $1,238,064,013 | 22 | August 30, 2023 |
| October 2024 | $1,723,821,312 | 30 | September 9, 2024 |
| October 2025 | $2,084,296,352 | 24 | March 25, 2025 |
| October 2026 | $3,244,894,203 | 36 | August 3, 2026 |

Regulatory assets under management: $942,307,346 in the October 2021 data and $3,244,894,203 in the October 2026 data, up 244%.
Total employees: 20 in October 2021 and 36 in October 2026.

## Changes in the filing (last 12 months)

### September 2026
- Updated its list of owners and control persons (Schedule A).

### April 2026
- Employees performing advisory functions went from 17 to 26.
- Regulatory assets under management went from $2,084,296,352 to $3,244,894,203 (+56%).
- Changed its office addresses in Columbia, SC.

### March 2026
- Updated its list of owners and control persons (Schedule A).

## Source

Form ADV as filed, October 2026. Values appear as filed. Cite as: AdvisorCensus. Advocacy Wealth Management, LLC (CRD 141943): Form ADV filing data as of October 2026.