# Councilor Wealth LLC

> Councilor Wealth LLC is an SEC-registered investment advisory firm in Bethesda, MD, registered since 2017, reporting $100 million to $500 million in regulatory assets under management in its Form ADV filing dated June 1, 2026.

- CRD: 170858
- Filed as: COUNCILOR WEALTH LLC
- Registration: SEC-registered investment adviser (status as filed: Approved)
- Location: Bethesda, MD
- Filing period: October 2026
- Form ADV filing dated: June 1, 2026
- SEC record (IAPD): https://adviserinfo.sec.gov/firm/summary/170858
- AdvisorCensus page: https://advisorcensus.com/firm/councilor-wealth-llc-bethesda-md-170858

## Quick answers

**How is Councilor Wealth LLC compensated?**
On its Form ADV (Item 5.E, October 2026), Councilor Wealth LLC reports these compensation arrangements: a percentage of assets under its management; hourly charges; fixed fees (other than subscription fees). The amounts are in Item 5 of its Form ADV Part 2A brochure.

**Where is Councilor Wealth LLC located?**
Councilor Wealth LLC's principal office is in Bethesda, MD, according to its Form ADV.

**Is Councilor Wealth LLC registered with the SEC or a state?**
Councilor Wealth LLC is an SEC-registered investment advisory firm, registered since 2017. Status as filed: Approved. CRD 170858.

**How much does Councilor Wealth LLC manage?**
Councilor Wealth LLC reports $316,945,133 in regulatory assets under management in its Form ADV filing dated June 1, 2026 (94% discretionary).

**How have Councilor Wealth LLC's assets and staff changed since 2021?**
In the Form ADV data for Councilor Wealth LLC: Regulatory assets under management: $267,882,615 in the October 2021 data and $316,945,133 in the October 2026 data, up 18%. Total employees: 6 in October 2021 and 13 in October 2026. Assets under management move with markets as well as with clients coming and going.

**What types of clients does Councilor Wealth LLC serve?**
By number of clients on Form ADV Item 5.D: individuals (other than high net worth individuals) (96); high net worth individuals (95); pension and profit sharing plans (but not the plan participants or government pension plans) (5).

**Which custodians does Councilor Wealth LLC use?**
Councilor Wealth LLC's 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 Councilor Wealth 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/170858

**What changed in Councilor Wealth LLC's recent Form ADV filings?**
In the July 2026 filing data: Changed its legal name from May Barnhard Investments LLC to Councilor Wealth LLC.

## From the Form ADV filing

### Compensation (Item 5.E)
- A percentage of assets under your management
- Hourly charges
- Fixed fees (other than subscription fees)

### 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: $316,945,133
- Discretionary: $297,882,187
- Non-discretionary: $19,062,946

### Clients (Item 5.D)

| Client type | Clients | Assets |
| --- | --- | --- |
| Individuals (other than high net worth individuals) | 96 | $32,442,283 |
| High net worth individuals | 95 | $268,971,741 |
| 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) | 5 | $2,552,197 |
| Charitable organizations | 1 | $12,978,912 |
| 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 | 0 | $0 |
| 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
- Publication of periodicals or newsletters
- Educational seminars/workshops

### Firm details
- Registered since: 2017 (9 years)
- Employees: 13 total, 11 performing advisory functions
- Wrap fee program participation: No
- States registered or notice-filed: CA, DC, DE, FL, MD, NJ, VA
- Disclosures (Item 11): Reports no disclosure items on Form ADV Item 11.

### Websites listed on Form ADV (Item 1.I)
- [cbmcpa.com](https://cbmcpa.com)
- [councilor.com](https://councilor.com)
- [maybarnhardinvestments.com](https://maybarnhardinvestments.com)
- LinkedIn @may-barnhard-investments

## Assets and staff over time

| Data period | Regulatory assets under management | Employees | Filing dated |
| --- | --- | --- | --- |
| October 2021 | $267,882,615 | 6 | April 13, 2021 |
| October 2022 | $324,553,113 | 7 | August 2, 2022 |
| October 2023 | $298,000,000 | 4 | September 22, 2023 |
| October 2024 | $295,830,266 | 8 | June 28, 2024 |
| October 2025 | $300,721,207 | 11 | March 31, 2025 |
| October 2026 | $316,945,133 | 13 | June 1, 2026 |

Regulatory assets under management: $267,882,615 in the October 2021 data and $316,945,133 in the October 2026 data, up 18%.
Total employees: 6 in October 2021 and 13 in October 2026.

## Changes in the filing (last 12 months)

### July 2026
- Changed its legal name from May Barnhard Investments LLC to Councilor Wealth LLC.

### February 2026
- Employees performing advisory functions went from 9 to 11.
- Registered or notice-filed in NJ.
- Updated its list of owners and control persons (Schedule A).

### December 2025
- Employees performing advisory functions went from 8 to 9.
- Registered or notice-filed in CA, DE.

## Source

Form ADV as filed, October 2026. Values appear as filed. Cite as: AdvisorCensus. Councilor Wealth LLC (CRD 170858): Form ADV filing data as of October 2026.