MWA Financial Services, Inc.

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

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

The brochure lists different fees for different services or strategies. See the firm's brochure (dated April 1, 2026) for its fees and any account minimum, on the SEC's IAPD site.

$639,989,844 as of October 2026, filing dated May 1, 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
• Portfolio management for businesses (other than small businesses) or institutional clients
• Selection of other advisers (including private fund managers)

Registration

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

Registered since

2016 (10 years)

Employees

Total: 721. Performing investment advisory functions: 164.

Wrap fee program participation

Yes.

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

Assetmark TrustPershing 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)

25 other offices, as of the June 2026 filing

Amarillo, TXBettendorf, IABrookfield, WIColumbus, OHConway, ARCulver City, CADallas, TXDavenport, IADenton, TXEdmond, OKEdwardsburg, MIGrand Rapids, MIHuntsville, ALLaguna Hills, CALansing, MILexington, KYMansfield, OHMaumee, OHMilwaukee, WIOntario, CAPhoenix, AZRaleigh, NCTulsa, OKWales, WIWilmington, NC

States registered or notice-filed

50 states or jurisdictions

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

2 Reports 2 disclosure items on Form ADV Item 11. View on IAPD.

Questions answered yes on this filing

Regulatory matters Items 11.C to 11.G

• 11.D(1) Has another federal regulator, a state regulator, or a foreign financial regulator ever found that the firm or an advisory affiliate made a false statement or omission, or was dishonest, unfair, or unethical?
• 11.D(2) Has another federal regulator, a state regulator, or a foreign financial regulator ever found that the firm or an advisory affiliate was involved in a violation of investment-related regulations or statutes?

Each question covers the firm and its advisory affiliates: its current employees other than clerical staff, its officers, partners, and directors, and anyone who controls the firm or is controlled by it. One event can produce yes answers to several questions. SEC-registered advisers and exempt reporting advisers may leave out events more than ten years old, and may answer 11.A(2) and 11.B(2) for pending charges only. What happened, and who was involved, is on the Disclosure Reporting Pages of the IAPD record. Reading a firm's disclosures

Regulatory assets under management: $65,469,160 in the October 2021 data and $639,989,844 in the October 2026 data, up 878%.

Total employees: 663 in October 2021 and 721 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. June 2026
   • Item 11 disclosure answers changed: 2 yes answers, previously 3 (now no: 11.D(4)).
2. May 2026
   • Item 11 disclosure answers changed: 3 yes answers, previously 2 (now yes: 11.D(4)).
   • Registered or notice-filed in RI.
3. April 2026
   • Item 11 disclosure answers changed: 2 yes answers, previously 3 (now no: 11.D(4)).
   • Employees performing advisory functions went from 134 to 164.
   • Regulatory assets under management went from $376,859,066 to $639,989,844 (+70%).
   • Changed its office addresses in Huntsville, AL.
   • Changed its office addresses in Wilmington, NC.
   • Added an office in Amarillo, TX.
   • Added an office in Columbus, OH.
   • Added an office in Conway, AR.
   • Added an office in Culver City, CA.
   • Added an office in Edwardsburg, MI.
   • Added an office in Grand Rapids, MI.
   • Added an office in Lansing, MI.
   • Added an office in Maumee, OH.
   • Added an office in Phoenix, AZ.
   • No longer lists an office in Castro Valley, CA.
   • No longer lists an office in Greenwood, IN.
   • No longer lists an office in Lewiston, ME.
   • No longer lists an office in Palm Desert, CA.
   • No longer lists an office in Roanoke Rapids, NC.
   • No longer lists an office in Spearfish, SD.
   • No longer lists an office in Waterford, WI.
   • Updated its list of owners and control persons (Schedule A).
4. March 2026
   • Registered or notice-filed in DC.

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