# Ashton Thomas Securities, LLC

> Ashton Thomas Securities, LLC is an SEC-registered investment advisory firm in Rochester, NY, registered since 2008, reporting $1 billion to $5 billion in regulatory assets under management in its Form ADV filing dated June 3, 2026.

- CRD: 16629
- Filed as: ASHTON THOMAS SECURITIES, LLC
- Also doing business as: CHEEVERS HAND & ANGELINE LLC, ERB FINANCIAL SERVICES
- Registration: SEC-registered investment adviser (status as filed: Approved)
- Location: Rochester, NY
- Filing period: October 2026
- Form ADV filing dated: June 3, 2026
- SEC record (IAPD): https://adviserinfo.sec.gov/firm/summary/16629
- AdvisorCensus page: https://advisorcensus.com/firm/ashton-thomas-securities-llc-rochester-ny-16629

## Quick answers

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

**Where is Ashton Thomas Securities, LLC located?**
Ashton Thomas Securities, LLC's principal office is in Rochester, NY, according to its Form ADV; the July 2026 filing also lists 5 other offices (Schedule D, Section 1.F).

**Is Ashton Thomas Securities, LLC registered with the SEC or a state?**
Ashton Thomas Securities, LLC is an SEC-registered investment advisory firm, registered since 2008. Status as filed: Approved. CRD 16629.

**How much does Ashton Thomas Securities, LLC manage?**
Ashton Thomas Securities, LLC reports $1,859,651,619 in regulatory assets under management in its Form ADV filing dated June 3, 2026 (97% discretionary).

**How have Ashton Thomas Securities, LLC's assets and staff changed since 2021?**
In the Form ADV data for Ashton Thomas Securities, LLC: Regulatory assets under management: $328,000,000 in the October 2021 data and $1,859,651,619 in the October 2026 data, up 467%. Total employees: 25 in October 2021 and 46 in October 2026. Assets under management move with markets as well as with clients coming and going.

**What types of clients does Ashton Thomas Securities, LLC serve?**
By number of clients on Form ADV Item 5.D: individuals (other than high net worth individuals) (1,980); high net worth individuals (301); corporations or other businesses not listed above (1).

**Which custodians does Ashton Thomas Securities, LLC use?**
Ashton Thomas Securities, LLC's most recent Form ADV filing (Schedule D, Section 5.K(3)) lists Pershing LLC as a custodian holding 10% or more of its separately managed account assets.

**Does Ashton Thomas Securities, 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/16629

**What changed in Ashton Thomas Securities, LLC's recent Form ADV filings?**
In the July 2026 filing data: Registered or notice-filed in KY, NM.

## From the Form ADV filing

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

### Custodians (Schedule D, Section 5.K(3))
- Pershing LLC

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: $1,859,651,619
- Discretionary: $1,801,181,382
- Non-discretionary: $58,470,237

### Clients (Item 5.D)

| Client type | Clients | Assets |
| --- | --- | --- |
| Individuals (other than high net worth individuals) | 1,980 | $831,390,077 |
| High net worth individuals | 301 | $1,027,266,772 |
| 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) | 0 | $0 |
| Charitable organizations | 0 | $0 |
| 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 | 1 | $994,770 |

### Advisory services (Item 5.G)
- Financial planning services
- Portfolio management for individuals and/or small businesses
- Pension consulting services

### Firm details
- Registered since: 2008 (18 years)
- Employees: 46 total, 26 performing advisory functions
- Wrap fee program participation: Yes
- States registered or notice-filed: AL, AR, AZ, CA, CO, CT, DC, DE, FL, GA, HI, ID, IL, IN, KY, LA, MA, MD, ME, MI, MN, MO, MT, NC, NE, NH, NJ, NM, NV, NY, OH, OK, OR, PA, PR, RI, SC, TN, TX, UT, VA, VI, VT, WA, WI, WV
- Disclosures (Item 11): Reports no disclosure items on Form ADV Item 11.

### Other offices (Schedule D, Section 1.F), as of the July 2026 filing
- Aspen, CO
- Boston, MA
- Endicott, NY
- New York, NY
- Rochester, NY

### Websites listed on Form ADV (Item 1.I)
- ashtonthomaspw.com/ashton-thomas-securities
- Facebook @AshtonThomasSecurities
- YouTube @excelsecuritiesassociates8598

## Assets and staff over time

| Data period | Regulatory assets under management | Employees | Filing dated |
| --- | --- | --- | --- |
| October 2021 | $328,000,000 | 25 | September 16, 2021 |
| October 2022 | $391,000,000 | 25 | August 5, 2022 |
| October 2023 | $344,257,941 | 24 | June 20, 2023 |
| October 2024 | $409,080,530 | 24 | June 6, 2024 |
| October 2025 | $1,717,957,312 | 75 | March 31, 2025 |
| October 2026 | $1,859,651,619 | 46 | June 3, 2026 |

Regulatory assets under management: $328,000,000 in the October 2021 data and $1,859,651,619 in the October 2026 data, up 467%.
Total employees: 25 in October 2021 and 46 in October 2026.

## Changes in the filing (last 12 months)

### July 2026
- Registered or notice-filed in KY, NM.

### April 2026
- Added the business name Cheevers Hand & Angeline LLC.
- Added the business name ERB Financial Services.
- Employees performing advisory functions went from 48 to 26.
- No longer lists an office in Delmar, NY.
- Updated its list of owners and control persons (Schedule A).

### February 2026
- Registered or notice-filed in MT.

## Source

Form ADV as filed, October 2026. Values appear as filed. Cite as: AdvisorCensus. Ashton Thomas Securities, LLC (CRD 16629): Form ADV filing data as of October 2026.