# Baltimore-Washington Financial Advisors

> Baltimore-Washington Financial Advisors is an SEC-registered investment advisory firm in Columbia, MD, registered since 2012, reporting $1 billion to $5 billion in regulatory assets under management in its Form ADV filing dated March 19, 2026.

- CRD: 159388
- Filed as: BALTIMORE-WASHINGTON FINANCIAL ADVISORS
- Legal name: Baltimore-Washington Financial Advisors, Inc.
- Registration: SEC-registered investment adviser (status as filed: Approved)
- Location: Columbia, MD
- Filing period: October 2026
- Form ADV filing dated: March 19, 2026
- SEC record (IAPD): https://adviserinfo.sec.gov/firm/summary/159388
- AdvisorCensus page: https://advisorcensus.com/firm/baltimore-washington-financial-advisors-columbia-md-159388

## Quick answers

**How is Baltimore-Washington Financial Advisors compensated?**
On its Form ADV (Item 5.E, October 2026), Baltimore-Washington Financial Advisors reports these compensation arrangements: a percentage of assets under its management; other. The amounts are in Item 5 of its Form ADV Part 2A brochure.

**Where is Baltimore-Washington Financial Advisors located?**
Baltimore-Washington Financial Advisors' principal office is in Columbia, MD, according to its Form ADV.

**Is Baltimore-Washington Financial Advisors registered with the SEC or a state?**
Baltimore-Washington Financial Advisors is an SEC-registered investment advisory firm, registered since 2012. Status as filed: Approved. CRD 159388.

**How much does Baltimore-Washington Financial Advisors manage?**
Baltimore-Washington Financial Advisors reports $2,985,578,005 in regulatory assets under management in its Form ADV filing dated March 19, 2026 (96% discretionary).

**How have Baltimore-Washington Financial Advisors' assets and staff changed since 2021?**
In the Form ADV data for Baltimore-Washington Financial Advisors: Regulatory assets under management: $1,238,302,312 in the October 2021 data and $2,985,578,005 in the October 2026 data, up 141%. Total employees: 19 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 Baltimore-Washington Financial Advisors serve?**
By number of clients on Form ADV Item 5.D: individuals (other than high net worth individuals) (4,400); high net worth individuals (872); charitable organizations (18).

**Which custodians does Baltimore-Washington Financial Advisors use?**
Baltimore-Washington Financial Advisors' most recent Form ADV filing (Schedule D, Section 5.K(3)) lists Charles Schwab & Co., Inc. as a custodian holding 10% or more of its separately managed account assets.

**Does Baltimore-Washington Financial Advisors 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/159388

**What changed in Baltimore-Washington Financial Advisors' recent Form ADV filings?**
In the April 2026 filing data: Employees performing advisory functions went from 11 to 13.

## From the Form ADV filing

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

### Custodians (Schedule D, Section 5.K(3))
- Charles Schwab & Co., Inc.

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: $2,985,578,005
- Discretionary: $2,861,600,438
- Non-discretionary: $123,977,567

### Clients (Item 5.D)

| Client type | Clients | Assets |
| --- | --- | --- |
| Individuals (other than high net worth individuals) | 4,400 | $900,286,724 |
| High net worth individuals | 872 | $2,062,302,888 |
| Charitable organizations | 18 | $21,403,143 |
| Corporations or other businesses not listed above | 11 | $1,585,250 |

### Advisory services (Item 5.G)
- Financial planning services
- Portfolio management for individuals and/or small businesses
- Educational seminars/workshops
- Other

### Firm details
- Registered since: 2012 (14 years)
- Employees: 36 total, 13 performing advisory functions
- Wrap fee program participation: No
- States registered or notice-filed: CA, CO, CT, DC, DE, FL, IL, LA, MA, MD, ME, NC, NH, NJ, NY, OH, PA, SC, TN, TX, VA
- Disclosures (Item 11): Reports no disclosure items on Form ADV Item 11.

### Websites listed on Form ADV (Item 1.I)
- bwfa.com
- Facebook @1bwfa
- Instagram @accounts
- LinkedIn @284379
- X @BWFA
- YouTube @UCEv5ZP_OO05be9Yv6FanaKQ

## Assets and staff over time

| Data period | Regulatory assets under management | Employees | Filing dated |
| --- | --- | --- | --- |
| October 2021 | $1,238,302,312 | 19 | March 14, 2021 |
| October 2022 | $1,560,362,241 | 21 | March 24, 2022 |
| October 2023 | $1,619,335,818 | 22 | September 18, 2023 |
| October 2024 | $1,941,650,304 | 28 | March 21, 2024 |
| October 2025 | $2,495,119,964 | 32 | April 22, 2025 |
| October 2026 | $2,985,578,005 | 36 | March 19, 2026 |

Regulatory assets under management: $1,238,302,312 in the October 2021 data and $2,985,578,005 in the October 2026 data, up 141%.
Total employees: 19 in October 2021 and 36 in October 2026.

## Changes in the filing (last 12 months)

### April 2026
- Employees performing advisory functions went from 11 to 13.

### January 2026
- No longer registered or notice-filed in NE.

### December 2025
- Regulatory assets under management went from $2,495,119,964 to $2,828,296,993 (+13%).
- Registered or notice-filed in NJ.

## Source

Form ADV as filed, October 2026. Values appear as filed. Cite as: AdvisorCensus. Baltimore-Washington Financial Advisors (CRD 159388): Form ADV filing data as of October 2026.