# CWA Asset Management Group

> CWA Asset Management Group is an SEC-registered investment advisory firm in Naples, FL, registered since 2014, reporting $1 billion to $5 billion in regulatory assets under management in its Form ADV filing dated July 16, 2026.

- CRD: 158940
- Filed as: CWA ASSET MANAGEMENT GROUP
- Legal name: CWA Asset Management Group, LLC
- Also doing business as: CAPITAL WEALTH ADVISORS
- Registration: SEC-registered investment adviser (status as filed: Approved)
- Location: Naples, FL
- Filing period: October 2026
- Form ADV filing dated: July 16, 2026
- SEC record (IAPD): https://adviserinfo.sec.gov/firm/summary/158940
- AdvisorCensus page: https://advisorcensus.com/firm/cwa-asset-management-group-naples-fl-158940

## Quick answers

**How is CWA Asset Management Group compensated?**
On its Form ADV (Item 5.E, October 2026), CWA Asset Management Group reports these compensation arrangements: a percentage of assets under its management; fixed fees (other than subscription fees); performance-based fees.

**Where is CWA Asset Management Group located?**
CWA Asset Management Group's principal office is in Naples, FL, according to its Form ADV; the August 2026 filing also lists 4 other offices (Schedule D, Section 1.F).

**Is CWA Asset Management Group registered with the SEC or a state?**
CWA Asset Management Group is an SEC-registered investment advisory firm, registered since 2014. Status as filed: Approved. CRD 158940.

**How much does CWA Asset Management Group manage?**
CWA Asset Management Group reports $4,514,473,566 in regulatory assets under management in its Form ADV filing dated July 16, 2026 (95% discretionary).

**How have CWA Asset Management Group's assets and staff changed since 2021?**
In the Form ADV data for CWA Asset Management Group: Regulatory assets under management: $1,661,883,249 in the October 2021 data and $4,514,473,566 in the October 2026 data, up 172%. Total employees: 41 in October 2021 and 67 in October 2026. Assets under management move with markets as well as with clients coming and going.

**What types of clients does CWA Asset Management Group serve?**
By number of clients on Form ADV Item 5.D: individuals (other than high net worth individuals) (952); high net worth individuals (923); corporations or other businesses not listed above (43).

**Which custodians does CWA Asset Management Group use?**
CWA Asset Management Group'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 CWA Asset Management Group 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/158940

**Does CWA Asset Management Group state an account minimum?**
Its Form ADV Part 2A brochure dated March 31, 2026 says: "CWA does not have a minimum account size for client accounts."

**What changed in CWA Asset Management Group's recent Form ADV filings?**
In the April 2026 filing data: Employees performing advisory functions went from 32 to 35. Regulatory assets under management went from $4,065,327,201 to $4,514,473,566 (+11%). Added an office in Erie, PA. Added an office in Johnston, PA.

## From the Form ADV filing

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

### Fees and minimums (Form ADV Part 2A brochure dated March 31, 2026)

- Account minimum: None

> CWA does not have a minimum account size for client accounts.

As stated in the firm's brochure. Fees can differ by service and may be negotiable.

### 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: $4,514,473,566
- Discretionary: $4,270,733,384
- Non-discretionary: $243,740,182

### Clients (Item 5.D)

| Client type | Clients | Assets |
| --- | --- | --- |
| Individuals (other than high net worth individuals) | 952 | $346,952,368 |
| High net worth individuals | 923 | $3,905,459,502 |
| Banking or thrift institutions | 0 | Not reported |
| Investment companies | 0 | Not reported |
| Business development companies | 0 | Not reported |
| Pooled investment vehicles (other than investment companies and business development companies) | 3 | $23,486,591 |
| Pension and profit sharing plans (but not the plan participants or government pension plans) | 40 | $116,237,515 |
| Charitable organizations | 15 | $50,845,763 |
| State or municipal government entities (including government pension plans) | 0 | Not reported |
| Other investment advisers | 0 | Not reported |
| Insurance companies | 0 | Not reported |
| Sovereign wealth funds and foreign official institutions | 0 | Not reported |
| Corporations or other businesses not listed above | 43 | $71,491,827 |

### Advisory services (Item 5.G)
- Financial planning services
- Portfolio management for individuals and/or small businesses
- Portfolio management for pooled investment vehicles (other than investment companies)
- Portfolio management for businesses (other than small businesses) or institutional clients
- Pension consulting services
- Selection of other advisers (including private fund managers)
- Publication of periodicals or newsletters

### Firm details
- Registered since: 2014 (12 years)
- Employees: 67 total, 35 performing advisory functions
- Wrap fee program participation: No
- States registered or notice-filed: AK, AL, AR, AZ, CA, CO, CT, DC, DE, FL, GA, HI, IA, ID, IL, IN, KS, KY, LA, MA, MD, ME, MI, MN, MO, MS, MT, NC, ND, NE, NH, NJ, NM, NV, NY, OH, OK, OR, PA, PR, RI, SC, SD, TN, TX, UT, VA, VI, VT, WA, WI, WV, WY
- Disclosures (Item 11): Reports no disclosure items on Form ADV Item 11.

### Other offices (Schedule D, Section 1.F), as of the August 2026 filing
- Cary, NC
- Charlotte, NC
- Erie, PA
- Johnston, PA

### Websites listed on Form ADV (Item 1.I)
- blog.capitalwealthadvisors.com/wisdominwealth
- capitalwealthadvisors.com
- cwaturkeydrop.com
- Facebook @cwacares
- Facebook @cwadvisors
- LinkedIn @capitalwealthadvisors

## Assets and staff over time

| Data period | Regulatory assets under management | Employees | Filing dated |
| --- | --- | --- | --- |
| October 2021 | $1,661,883,249 | 41 | September 28, 2021 |
| October 2022 | $2,018,789,339 | 42 | June 8, 2022 |
| October 2023 | $2,177,944,822 | 47 | September 26, 2023 |
| October 2024 | $2,531,719,656 | 51 | May 8, 2024 |
| October 2025 | $3,340,660,207 | 52 | April 1, 2025 |
| October 2026 | $4,514,473,566 | 67 | July 16, 2026 |

Regulatory assets under management: $1,661,883,249 in the October 2021 data and $4,514,473,566 in the October 2026 data, up 172%.
Total employees: 41 in October 2021 and 67 in October 2026.

## Changes in the filing (last 12 months)

### April 2026
- Employees performing advisory functions went from 32 to 35.
- Regulatory assets under management went from $4,065,327,201 to $4,514,473,566 (+11%).
- Added an office in Erie, PA.
- Added an office in Johnston, PA.

### December 2025
- Employees performing advisory functions went from 30 to 32.
- Regulatory assets under management went from $3,340,660,207 to $4,065,327,201 (+22%).

### November 2025
- No longer lists an office in New Orleans, LA.

## Source

Form ADV as filed, October 2026. Values appear as filed. Cite as: AdvisorCensus. CWA Asset Management Group (CRD 158940): Form ADV filing data as of October 2026.