CWM, LLC

• A percentage of assets under your management
• Hourly charges
• Fixed fees (other than subscription fees)
• Other

Item 5.E lists how the firm is compensated for its advice; Items 5.B, 6.A, and 7.A show whether its people or related companies can also earn commissions. Percentage of assets, fixed, hourly, subscription, and performance-based fees come from clients (a performance-based fee depends on investment results); commissions come with a sale or a trade, often from the company behind the product. How fees, commissions, and other arrangements differ

See the firm's brochure (dated March 30, 2026) for its fees and any account minimum, on the SEC's IAPD site.

$50,579,657,663 as of October 2026, filing dated September 30, 2026.

A measure of scale, not skill or returns. Discretionary means the firm decides trades; non-discretionary means clients approve each one. What assets under management means

A firm with no individual clients is an institutional manager even if it manages billions; the mix tells you whom the practice is built around.

• Financial planning services
• Portfolio management for individuals and/or small businesses
• Selection of other advisers (including private fund managers)
• Other

Also doing business as

AAM FINANCIAL PLANNING AND INVESTMENTS, ADVANCED RETIREMENT STRATEGIES, AGRILLO FINANCIAL GROUP, ALBRITTON FINANCIAL SERVICES, ALLGOOD FINANCIAL ADVISORY, APPLIED FINANCIAL, APPLIED FINANCIAL PLANNING, ARS INVESTMENT ADVISORS, INC., ART OF WEALTH MANAGEMENT, ASPIRE FINANCIAL PLANNING, AVERY WEALTH, INC., BAIN WEALTH MANAGEMENT, BARRINGTON WEALTH MANAGEMENT, BIXLER FINANCIAL, BLOOM WEALTH ADVISORS, BLUEPRINT WEALTH MANAGEMENT, BMY WEALTH, BMY WEALTH MANAGEMENT GROUP, BOSTON RETIREMENT GROUP, BRIDGES PRIVATE WEALTH, BUCKLEY, BUCKLEY INVESTMENT GROUP, LLC, BUTTERWORTH FINANCIAL GROUP, CARSON, CARSON GROUP, CARSON GROUP HOLDINGS, CARSON GROUP PARTNERS, CARSON INSTITUTIONAL, CARSON INSTITUTIONAL ALLIANCE (CIA), CARSON PARTNERS, CARSON WEALTH, CARSON WEALTH MANAGEMENT GROUP, CARSON WEALTH-FISHER FINANCIAL ADVISORS, CARSON WEALTH-THE SHOBE FINANCIAL GROUP, CHESSMAN WEALTH STRATEGIES, CLARITY WEALTH, COLLECTIVE ADVISORS, CRESCENT FINANCIAL ADVISORS, CREST WEALTH PARTNERS, CULTIVATE WEALTH, LLC, CWMG, DIAMOND WEALTH ADVISORS, DORHOUT RETIREMENT SERVICES, DOYLE & LOUGHMAN WEALTH MANAGEMENT, DRIVEN WEALTH STRATEGIES, DSF WEALTH MGMT, ENTIRETY, EQUITY PLANNING INC, FAMILY WEALTH MANAGEMENT GROUP, FCM FINANCIAL, FCM FINANCIAL PLANNING, FFR WEALTH TEAM, FINANCIAL IMPACT ADVISORS, FINANCIAL INDEPENDENCE PLANNING, INC., FINANCIAL MANAGEMENT INC., FLASHPOINT FINANCIAL SERVICES, FORTIS FINANCIAL PARTNERS, FURSTENAU FINANCIAL, GEIST FAMILY WEALTH, GERTSEMA WEALTH, GERTSEMA WEALTH ADVISORS, GOLD FAMILY WEALTH, GRANITE WEALTH STRATEGIES, HAL OTEY FINANCIAL WEALTH MANAGEMENT & RETIREMENT PLANNING, HAL-OTEY FINANCIAL, HARBOR WEALTH MANAGEMENT, HARRISON WALLACE, HARRISON WALLACE FINANCIAL GROUP, LTD, HERITAGE FINANCIAL, HERITAGE FINANCIAL & INVESTMENTS, HIRST FINANCIAL INDEPENDENCE PLANNING, HOFFMEYER WEALTH MANAGEMENT, HOLLAR WEALTH, JACKSON WEALTH MANAGEMENT, JACOB WILLIAM ADVISORY, KANAI WEALTH MANAGEMENT GROUP, LACLEDE PRIVATE CAPITAL, LATITUDE WEALTH, LATITUDE WEALTH MANAGEMENT, LIONS GATE WEALTH, LOTUS BRIDGE WEALTH MANAGEMENT, LUND WEALTH MANAGEMENT, MAIN STREET FINANCIAL LIFE ADVISORS, LLC, MAMMOTH FINANCIAL, MEIKLE FINANCIAL GROUP, MELERINE WEALTH MANAGEMENT, MITLIN FINANCIAL, MORGAN WEALTH, NWCM, OAKESON STEINER WEALTH & RETIREMENT, OGDEN WEALTH, OLIVIER GROUP INNOVATIVE WEALTH PLANNERS, PARISH WEALTH PARTNERS, PESTA & PESTA WEALTH MANAGEMENT, PINNACLE WEALTH, PLATINUM WEALTH MANAGEMENT, PREMIER WEALTH MANAGEMENT GROUP, RANDALL & POBAR, LLC, RBV WEALTH MANAGEMENT, RETIREMENT PLANNING & WEALTH MANAGEMENT, RETIREMENT PLANNING AND WEALTH MANAGEMENT, ROLOFF RETIRMENT SOLUTIONS, ROSEVEST FINANCIAL, SCHLIPMAN WEALTH ADVISORS, SHANE HALL FINANCIAL, SHILANSKI & ASSOCIATES, SILVERHAWK PRIVATE WEALTH, SRQ WEALTH, SRQ WEALTH MANAGEMENT, STONEWAY FINANCIAL, LLC, STRATEGIC FINANCIAL MANAGEMENT, SWEET FINANCIAL PARTNERS, THE OLIVIER GROUP, THE THIGPEN GROUP WEALTH ADVISORS, TPC ADVISORS OF LOUISIANA, TRILLIUM WEALTH, TRIMBLE WEALTH ADVISORS, TRUENORTH 42 WEALTH, TUNGSTEN WEALTH MANAGEMENT, TWIN PINES WEALTH MANAGEMENT, TWO BIRD WEALTH STRATEGIES, VALOREM FINANCIAL, WATERSTONE PRIVATE WEALTH MANAGEMENT, WAYMAKER WEALTH ADVISORS, WEALTH MANAGEMENT, WEALTH MANAGEMENT INC, WEALTH PLANNERS OF COLORADO, WEALTH STANDARD FINANCIAL, WEALTHCARE PARTNERS, WELLS TRECASO FINANCIAL GROUP-CARSON GROUP, WISE COUNSEL WEALTH, WOLF MONEY MANAGEMENT, YARI CAPITAL, YUMA & IMPERIAL VALLEY WEALTH MANAGEMENT, YUMA INVESTMENT GROUP MANAGEMENT, ZEROCELSIUS WEALTH STUDIO, ZEROCELSIUS WEALTH STUDIO INC.

Registration

SEC-registered investment adviser. Status as filed: Approved.

Registered since

2011 (15 years)

Employees

Total: 1,416. Performing investment advisory functions: 472.

Wrap fee program participation

Yes.

Custodians (Schedule D, Section 5.K(3))

Charles Schwab & Co., Inc.National Financial Services 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.

Other offices (Schedule D, Section 1.F)

24 other offices, as of the October 2026 filing

Amarillo, TXAnchorage, AKArvada, COBaton Rouge, LACedar Rapids, IACincinnati, OHCockeyseville, MDConshohocken, PADoylestown, PAEngelwood, COFairmont, MNFranklin Lakes, NJHagerstown, MDHastings, NEIrvine, CALittleton, COOmaha, NEPittsburgh, PASalem, ORSioux Falls, SDStephenville, TNWarren, PAWestport, CTYuma, AZ

States registered or notice-filed

52 states or jurisdictions

AKALARAZCACOCTDCDEFLGAHIIAIDILINKSKYLAMAMDMEMIMNMOMSMTNCNDNENHNJNMNVNYOHOKORPAPRRISCSDTNTXUTVAVTWAWIWVWY

SEC-registered investment advisers are examined by the SEC. SEC, state, and exempt registration

None Reports no disclosure items on Form ADV Item 11. View on IAPD.

Item 11 asks about criminal, regulatory, and civil events involving the firm and its advisory personnel. The detail of each yes answer is on the IAPD record. Reading a firm's disclosures

Regulatory assets under management: $15,210,614,390 in the October 2021 data and $50,579,657,663 in the October 2026 data, up 233%.

Total employees: 854 in October 2021 and 1,416 in October 2026.

As filed in each year's data for the same month. Assets under management move with markets as well as with clients coming and going; they measure scale, not skill or returns. Most firms update these figures once a year.

1. October 2026
   • Added the business name Heritage Financial & Investments.
2. September 2026
   • Added the business name Yari Capital.
3. August 2026
   • Added the business name Doyle & Loughman Wealth Management.
   • Added the business name Crest Wealth Partners.
4. July 2026
   • Added the business name Jackson Wealth Management.
5. June 2026
   • Added the business name Tungsten Wealth Management.
   • Updated its list of owners and control persons (Schedule A).
6. May 2026
   • Added the business name Roloff Retirment Solutions.
   • Added the business name Laclede Private Capital.
   • Added the business name Harbor Wealth Management.
7. April 2026
   • Added the business name Agrillo Financial Group.
   • Added the business name Furstenau Financial.
8. March 2026
   • No longer lists the business name Thrivepoint Capital.
   • Added the business name TPC Advisors of Louisiana.
   • Added the business name Schlipman Wealth Advisors.
   • Employees performing advisory functions went from 456 to 472.
   • Regulatory assets under management went from $33,775,526,748 to $50,579,657,663 (+50%).
   • Added an office in Anchorage, AK.
   • Added an office in Arvada, CO.
   • Added an office in Cincinnati, OH.
   • Added an office in Conshohocken, PA.
   • Added an office in Engelwood, CO.
   • Added an office in Fairmont, MN.
   • Added an office in Franklin Lakes, NJ.
   • Added an office in Littleton, CO.
   • Added an office in Stephenville, TN.
   • No longer lists an office in Ann Arbor, MI.
   • No longer lists an office in Atlanta, GA.
   • No longer lists an office in Covington, KY.
   • No longer lists an office in Foxborough, MA.
   • No longer lists an office in Indianapolis, IN.
   • No longer lists an office in Lake Oswego, OR.
   • No longer lists an office in Palatine, IL.
   • No longer lists an office in Scottsdale, AZ.
   • No longer lists an office in Spokane, WA.
   • No longer lists an office in Wichita, KS.
9. February 2026
   • No longer lists the business name Weinzapfel Wealth Advisors Inc..
   • No longer lists the business name Schlipman Wealth Advisors.
   • No longer lists the business name Carson Wealth-True North Financial.
   • Added the business name Bixler Financial.
10. January 2026
    • No longer lists the business name Navion Financial Advisors.
    • No longer lists the business name Equanimity Wealth Management.
    • No longer lists the business name Alexander Legacy Private Wealth.
11. December 2025
    • Added the business name Blueprint Wealth Management.
12. November 2025
    • No longer lists the business name Wells Trecaso Financial Group.
    • No longer lists the business name Financial Imdependence Planning, Inc..
    • Added the business name Wells Trecaso Financial Group-Carson Group.
    • Added the business name Flashpoint Financial Services.
    • Added the business name Financial Independence Planning, Inc..

Compared month to month from the SEC's monthly adviser data and the state compilation feed. Owners and control persons are summarized, never named.