191 Godwin Associates, Inc D/B/A Godwin Capital Management provides portfolio management for individuals and small businesses, portfolio management for institutions, and pension consulting.
191 Godwin Associates, Inc D/B/A Godwin Capital Management reports 319 clients. They include 275 individual clients, 29 corporations and other businesses, and 11 pension and profit-sharing plans. Of its assets, 100.0% ($150M across 314 accounts) are managed with discretion. A wrap fee program the firm both sponsors and manages holds $150M.
| Client type | Clients | Assets |
|---|---|---|
| Individuals (other than HNW) | 86% | 31% |
| High-net-worth individuals | <1% | 39% |
| Pension and profit-sharing plans | 3% | 4% |
| Charitable organizations | <1% | 5% |
| Corporations and other businesses | 9% | 21% |
Client breakdown and activity details
| Client type | Clients | Regulatory AUM | AUM share | Avg. per client |
|---|---|---|---|---|
| Individuals (other than HNW) | 275 | $45.8M | 30.5% | $167K |
| High-net-worth individuals | Fewer than 5 | $59.3M | 39.5% | $19.8M |
| Pension and profit-sharing plans | 11 | $5.35M | 3.6% | $486K |
| Charitable organizations | Fewer than 5 | $7.65M | 5.1% | $7.65M |
| Corporations and other businesses | 29 | $32M | 21.3% | $1.1M |
| Total | 319 | $150M | 100% | — |
- Clients
- 275
- Regulatory AUM
- $45.8M
- AUM share
- 30.5%
- Avg. per client
- $167K
- Clients
- Fewer than 5
- Regulatory AUM
- $59.3M
- AUM share
- 39.5%
- Avg. per client
- $19.8M
- Clients
- 11
- Regulatory AUM
- $5.35M
- AUM share
- 3.6%
- Avg. per client
- $486K
- Clients
- Fewer than 5
- Regulatory AUM
- $7.65M
- AUM share
- 5.1%
- Avg. per client
- $7.65M
- Clients
- 29
- Regulatory AUM
- $32M
- AUM share
- 21.3%
- Avg. per client
- $1.1M
Total
- Clients
- 319
- Regulatory AUM
- $150M
- AUM share
- 100%
- Avg. per client
- —
- Clients outside the U.S.
- 0%
- Clients advised without assets under management last fiscal year
- 0
- Private funds advised
- 0
191 Godwin Associates, Inc D/B/A Godwin Capital Management charges 0.65%–1.00% a year for its Portfolio management fee. The fee is billed in arrears and is negotiable.
Fee details and sources
Frank Avena owns 50% to 75% of 191 Godwin Associates, Inc D/B/A Godwin Capital Management. The leadership team of 191 Godwin Associates, Inc D/B/A Godwin Capital Management includes President Frank Avena. It has 2 employees, 1 of them in advisory roles.
Leadership
- Frank AvenaPresident and Chief Compliance Officer
- Milton WarsawVice-President
Investment adviser representatives
1 representatives listed in the SEC register as of 9 October 2026.
Staff
- 2 employees
- 1 in advisory functions
- 1 state-registered rep
- 1 broker-dealer rep
- Owns 50% to 75% of 191 Godwin Associates, Inc D/B/A Godwin Capital Management
Frank Avena
Control person · since January 2002
- Owns 50% to 75% of 191 Godwin Associates, Inc D/B/A Godwin Capital Management
Milton Warsaw
since January 2002
191 Godwin Associates, Inc D/B/A Godwin Capital Management’s regulatory assets grew from $136M (April 2023) to $150M (February 2026); clients rose from 159 to 319 and employees were 2 in both filings.
Figures from each annual filing
| Filed | Regulatory AUM | Clients | Employees | Offices |
|---|---|---|---|---|
| February 2026 | $150M | 319 | 2 | 1 |
| February 2025 | $156M | 217 | 2 | 1 |
| January 2024 | $146M | 216 | 2 | 1 |
| April 2023 | $136M | 159 | 2 | 1 |
Besides its headquarters, 191 Godwin Associates, Inc D/B/A Godwin Capital Management has 0 offices, with 1 listed address in New Jersey.
New Jersey · 1 listed address
- 191 Godwin Avenue, Ste 5, WyckoffHQ
Contact and registration details
- Legal name
- 191 Godwin Associates, Inc D/B/A Godwin Capital Management
- Headquarters
- 191 Godwin Avenue, Ste 5, Wyckoff, NJ 07481-2052
- Website
- Not reported
- Phone
- 201-560-1993
- SEC file
- 801-126375
- Structure
- New Jersey corporation
- Fiscal year end
- December
191 Godwin Associates, Inc D/B/A Godwin Capital Management uses Fidelity ($150M) as custodian for its separately managed accounts. 191 Godwin Associates, Inc D/B/A Godwin Capital Management does not have custody of client assets.
- FidelityFidelity Brokerage Services LLC · Smithfield, RI · $150M100%
At year end, 191 Godwin Associates, Inc D/B/A Godwin Capital Management’s separately managed accounts were mostly in stocks (56%) and bonds (33%).
What the accounts hold
- Stocks56%
- Bonds33%
- U.S. government and agency bonds17%
- State and local bonds8%
- Investment grade corporate bonds8%
- Cash11%
How many clients does 191 Godwin Associates, Inc D/B/A Godwin Capital Management have?
191 Godwin Associates, Inc D/B/A Godwin Capital Management has 319 clients and manages $150 million for them, as of February 2026. They include 275 individual clients, 29 corporations and other businesses, and 11 pension and profit-sharing plans.
Source: Form ADV Part 1A, Items 5.D and 5.F, filed 10 February 2026
What services does 191 Godwin Associates, Inc D/B/A Godwin Capital Management offer?
191 Godwin Associates, Inc D/B/A Godwin Capital Management provides portfolio management for individuals and small businesses, portfolio management for institutions, and pension consulting.
Source: Form ADV Part 1A, Item 5.G, from the SEC's 2 October 2026 data file
How much does 191 Godwin Associates, Inc D/B/A Godwin Capital Management charge?
191 Godwin Associates, Inc D/B/A Godwin Capital Management charges 0.65%–1.00% a year for its Portfolio management fee. The fee is billed in arrears and is negotiable.
Which custodians does 191 Godwin Associates, Inc D/B/A Godwin Capital Management use?
191 Godwin Associates, Inc D/B/A Godwin Capital Management’s separately managed account assets are held at Fidelity Brokerage Services LLC (Smithfield, RI), with $150M. Only custodians holding at least a tenth of those assets are named.
Source: Form ADV Part 1A, Schedule D, Section 5.K.(3), filed 10 February 2026
How many financial advisors does 191 Godwin Associates, Inc D/B/A Godwin Capital Management have?
191 Godwin Associates, Inc D/B/A Godwin Capital Management has 1 investment adviser representative registered with state securities authorities, out of 2 employees, and 1 perform investment advisory functions. 1 employee is a registered representative of a broker-dealer and 0 employees are licensed insurance agents.
Source: Form ADV Part 1A, Items 5.A and 5.B, from the SEC's 2 October 2026 data file
What does 191 Godwin Associates, Inc D/B/A Godwin Capital Management invest in?
At the end of its last fiscal year, 191 Godwin Associates, Inc D/B/A Godwin Capital Management’s separately managed accounts held 56% exchange-traded equities, 17% U.S. government and agency bonds, 11% cash and equivalents, 8% state and local bonds and 8% investment grade corporate bonds.
Source: Form ADV Part 1A, Items 5.K.(1) and 7.B, from the SEC's 2 October 2026 data file
Who owns 191 Godwin Associates, Inc D/B/A Godwin Capital Management?
191 Godwin Associates, Inc D/B/A Godwin Capital Management’s direct owners are Frank Avena (50% to 75%) and Milton Warsaw (50% to 75%).
Source: Form ADV Part 1A, Schedules A and B, filed 10 February 2026
How does 191 Godwin Associates, Inc D/B/A Godwin Capital Management get paid?
191 Godwin Associates, Inc D/B/A Godwin Capital Management is paid through a percentage of assets under management and fixed fees. Its Form ADV lists no commissions or performance-based fees among how it is paid.
Source: Form ADV Part 1A, Item 5.E, from the SEC's 2 October 2026 data file
Is 191 Godwin Associates, Inc D/B/A Godwin Capital Management registered with the SEC?
Yes, 191 Godwin Associates, Inc D/B/A Godwin Capital Management has been registered with the SEC as an investment adviser since 15 August 2022. Its CRD number is 124288 and its SEC file number is 801-126375.
Source: Form ADV Part 1A, Item 1, filed 10 February 2026; IAPD firm record
How do I contact 191 Godwin Associates, Inc D/B/A Godwin Capital Management?
191 Godwin Associates, Inc D/B/A Godwin Capital Management’s main office is at 191 Godwin Avenue, Ste 5, Wyckoff, NJ 07481-2052. Its phone number is 201-560-1993.