Armstrong, Fleming & Moore provides financial planning, portfolio management for individuals and small businesses, pension consulting, publishing newsletters, educational seminars, and insurance. Financial planning was provided to 26–50 clients last fiscal year.
Armstrong, Fleming & Moore reports 551 clients. They include 273 individual clients, 266 high-net-worth individuals, and 6 corporations and other businesses. Of its assets, 98.5% ($1.25B across 1,815 accounts) are managed with discretion; $18.7M across 26 accounts are not. It advised 7 clients without assets under management last fiscal year.
| Client type | Clients | Assets |
|---|---|---|
| Individuals (other than HNW) | 50% | 7% |
| High-net-worth individuals | 48% | 92% |
| Pension and profit-sharing plans | <1% | <1% |
| Charitable organizations | <1% | <1% |
| Corporations and other businesses | 1% | <1% |
Client breakdown and activity details
| Client type | Clients | Regulatory AUM | AUM share | Avg. per client |
|---|---|---|---|---|
| Individuals (other than HNW) | 273 | $88M | 6.9% | $322K |
| High-net-worth individuals | 266 | $1.17B | 91.6% | $4.38M |
| Pension and profit-sharing plans | Fewer than 5 | $4.9M | 0.4% | $1.63M |
| Charitable organizations | Fewer than 5 | $12.3M | 1.0% | $4.1M |
| Corporations and other businesses | 6 | $1.65M | 0.1% | $275K |
| Total | 551 | $1.27B | 100% | — |
- Clients
- 273
- Regulatory AUM
- $88M
- AUM share
- 6.9%
- Avg. per client
- $322K
- Clients
- 266
- Regulatory AUM
- $1.17B
- AUM share
- 91.6%
- Avg. per client
- $4.38M
- Clients
- Fewer than 5
- Regulatory AUM
- $4.9M
- AUM share
- 0.4%
- Avg. per client
- $1.63M
- Clients
- Fewer than 5
- Regulatory AUM
- $12.3M
- AUM share
- 1.0%
- Avg. per client
- $4.1M
- Clients
- 6
- Regulatory AUM
- $1.65M
- AUM share
- 0.1%
- Avg. per client
- $275K
Total
- Clients
- 551
- Regulatory AUM
- $1.27B
- AUM share
- 100%
- Avg. per client
- —
- Clients outside the U.S.
- 0%
- Clients advised without assets under management last fiscal year
- 7
- Private funds advised
- 0
- Financial planning clients last fiscal year
- 26–50
Armstrong, Fleming & Moore charges 0.40%–1.00% a year for its Portfolio Management Services. Each asset band is charged at its own rate. The fee is billed in arrears and is negotiable. The brochure also prices 2 other services, listed under fee details.
| Asset band | Annual rate |
|---|---|
| $0–$5M | 1.00% |
| $5M–$10M | 0.60% |
| $10M and above | 0.40% |
Fee details and sources
Other fees
- Financial planning and consultation
- Hourly fees: up to $900 per hour for principals, $300 for financial planners and advisors, and $150 for paraplanners; negotiable.
- Retirement plan consulting
- Hourly, flat, fixed or asset-based fee; the maximum annual account consulting fee, when stated as a percentage of assets, is 1.50%, and is negotiable.
Mary Moore owns 25% to 50% of Armstrong, Fleming & Moore. The leadership team of Armstrong, Fleming & Moore includes President Ryan Fleming and Chief Compliance Officer Elizabeth Fleming. It has 27 employees, 17 of them in advisory roles.
Leadership
- Ryan FlemingPresident
- Carl HolubowichVice President
- Elizabeth FlemingChief Compliance Officer
- Alexandra ArmstrongChairman Emeritus
- Mary MooreTreasurer
- Christopher RiversSecretary
Investment adviser representatives
11 representatives listed in the SEC register as of 9 October 2026.
- Lucas Campbell
- Ryan Maughan Fleming
- Carl Leonard Holubowich
- Joshua Andrew Kaplan
- Zachary Abraham Kaufman
- Sumedha Malhotra
- Mary Louise Moore
- Christopher James Rivers
- Elizabeth Donahue Schleifer
- Mitchell K Strobel
- John Kurt Wittelsberger JR
Staff
- 27 employees
- 17 in advisory functions
- 10 state-registered reps
- 14 broker-dealer reps
- 5 insurance agents
- Owns 25% to 50% of Armstrong, Fleming & Moore, Inc.
Mary Moore
Control person · since May 2003
- Owns 25% to 50% of Armstrong, Fleming & Moore, Inc.
Ryan Fleming
Control person · since March 2012
- Owns 10% to 25% of Armstrong, Fleming & Moore, Inc.
Christopher Rivers
Control person · since March 2012
- Owns 10% to 25% of Armstrong, Fleming & Moore, Inc.
Carl Holubowich
Control person · since March 2014
Armstrong, Fleming & Moore’s regulatory assets grew from $927M (March 2021) to $1.27B (June 2026); clients rose from 375 to 551 and employees from 20 to 27.
Figures from each annual filing
| Filed | Regulatory AUM | Clients | Employees | Offices |
|---|---|---|---|---|
| June 2026 | $1.27B | 551 | 27 | 1 |
| March 2025 | $1.12B | 517 | 24 | 1 |
| March 2024 | $1.04B | 444 | 20 | 1 |
| March 2023 | $877M | 418 | 20 | 1 |
| March 2022 | $1.02B | 403 | 20 | 1 |
| March 2021 | $927M | 375 | 20 | 1 |
Besides its headquarters, Armstrong, Fleming & Moore has 0 offices, with 1 listed address in District of Columbia.
District of Columbia · 1 listed address
- 1800 M Street NW, #1010-S, WashingtonHQ
Contact and registration details
- Legal name
- Armstrong, Fleming & Moore, Inc.
- Headquarters
- 1800 M Street NW, #1010-S, Washington, DC 20036
- Website
- afmfa.com
- Phone
- 202-887-8135
- @armstrong-fleming-and-moore
- SEC file
- 801-38960
- Founded
- 1983
- Structure
- District of Columbia corporation
- Fiscal year end
- December
Armstrong, Fleming & Moore uses Fidelity ($1.27B) as custodian for its separately managed accounts. Armstrong, Fleming & Moore has custody of $600M in client assets for 314 clients.
- FidelityNational Financial Services LLC · Boston, MA · $1.27B100%
At year end, Armstrong, Fleming & Moore’s separately managed accounts were mostly in funds (83%) and stocks (10%). Its reported 13F holdings for the quarter ended 30 June 2026 total $302M across 115 positions; the largest are American Centy ETF TR (13.6%), Capital Group Intl Focus EQT (9.9%) and T Rowe Price Exchange-traded (9.6%).
What the accounts hold
- Stocks10%
- Funds83%
- Cash7%
Reported 13F holdings
- $302M
- Reported 13F value
- 115
- Positions
- 68.8%
- In the 10 largest
- +28.2%
- Value vs. prior quarter
- American Centy ETF TR · US Large Cap Vlu13.6%
- Capital Group Intl Focus EQT · Shs Creat Unit9.9%
- T Rowe Price Exchange-traded · Price Blue Chip9.6%
- Cava Group Inc.9.5%
- Apple Inc.8.7%
- American Centy ETF TR · Avantis Emgmkt8.4%
- Capital Group Dividend Value · Shs Creat Unit4.8%
- Nvidia Corporation1.6%
- Marriott Intl Inc. New · CL A1.6%
- Johnson & Johnson1.2%
Together, the ten largest are 68.8% of reported value.
How many clients does Armstrong, Fleming & Moore have?
Armstrong, Fleming & Moore has 551 clients and manages $1.27 billion for them, as of June 2026. They include 273 individual clients, 266 high-net-worth individuals, and 6 corporations and other businesses.
Source: Form ADV Part 1A, Items 5.D and 5.F, filed 25 June 2026
What services does Armstrong, Fleming & Moore offer?
Armstrong, Fleming & Moore provides financial planning, portfolio management for individuals and small businesses, pension consulting, publishing newsletters, educational seminars, and insurance.
Source: Form ADV Part 1A, Item 5.G, from the SEC's 2 October 2026 data file; Part 2A brochure, Item 4
How much does Armstrong, Fleming & Moore charge?
Armstrong, Fleming & Moore charges 0.40%–1.00% a year for its Portfolio Management Services. Each asset band is charged at its own rate. The fee is billed in arrears and is negotiable.
Source: ARMSTRONG, FLEMING & MOORE ADV 2A JUNE 25, 2026, filed 25 June 2026
Which custodians does Armstrong, Fleming & Moore use?
Armstrong, Fleming & Moore’s separately managed account assets are held at National Financial Services LLC (Boston, MA), with $1.27B. Only custodians holding at least a tenth of those assets are named.
Source: Form ADV Part 1A, Schedule D, Section 5.K.(3), filed 25 June 2026
How many financial advisors does Armstrong, Fleming & Moore have?
Armstrong, Fleming & Moore has 10 investment adviser representatives registered with state securities authorities, out of 27 employees, and 17 perform investment advisory functions. 14 employees are registered representatives of a broker-dealer and 5 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 Armstrong, Fleming & Moore invest in?
At the end of its last fiscal year, Armstrong, Fleming & Moore’s separately managed accounts held 83% registered funds (mutual funds, ETFs, BDCs), 10% exchange-traded equities and 7% cash and equivalents.
Source: Form ADV Part 1A, Items 5.K.(1) and 7.B, from the SEC's 2 October 2026 data file
Who owns Armstrong, Fleming & Moore?
Armstrong, Fleming & Moore’s direct owners are Mary Moore, Ryan Fleming, Christopher Rivers and Carl Holubowich, each holding 50% or less.
Source: Form ADV Part 1A, Schedules A and B, filed 25 June 2026
How does Armstrong, Fleming & Moore get paid?
Armstrong, Fleming & Moore is paid through a percentage of assets under management, fixed fees and commissions. Its Form ADV lists no 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 Armstrong, Fleming & Moore registered with the SEC?
Yes, Armstrong, Fleming & Moore has been registered with the SEC as an investment adviser since 26 June 1991. Its CRD number is 107347 and its SEC file number is 801-38960.
Source: Form ADV Part 1A, Item 1, filed 25 June 2026; IAPD firm record
How do I contact Armstrong, Fleming & Moore?
Armstrong, Fleming & Moore’s main office is at 1800 M Street NW, #1010-S, Washington, DC 20036. Its phone number is 202-887-8135. Its website is afmfa.com.