Ashton Thomas Securities provides financial planning, portfolio management for individuals and small businesses, and pension consulting.
Ashton Thomas Securities reports 2,282 clients. They include 1,980 individual clients, 301 high-net-worth individuals and 1 corporate or other business client. Of its assets, 96.9% ($1.8B across 2,006 accounts) are managed with discretion; $58.5M across 276 accounts are not. A wrap fee program the firm both sponsors and manages holds $1.64B.
| Client type | Clients | Assets |
|---|---|---|
| Individuals (other than HNW) | 87% | 45% |
| High-net-worth individuals | 13% | 55% |
| 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) | 1,980 | $831M | 44.7% | $420K |
| High-net-worth individuals | 301 | $1.03B | 55.2% | $3.41M |
| Corporations and other businesses | Fewer than 5 | $995K | 0.1% | $995K |
| Total | 2,282 | $1.86B | 100% | — |
- Clients
- 1,980
- Regulatory AUM
- $831M
- AUM share
- 44.7%
- Avg. per client
- $420K
- Clients
- 301
- Regulatory AUM
- $1.03B
- AUM share
- 55.2%
- Avg. per client
- $3.41M
- Clients
- Fewer than 5
- Regulatory AUM
- $995K
- AUM share
- 0.1%
- Avg. per client
- $995K
Total
- Clients
- 2,282
- Regulatory AUM
- $1.86B
- 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
- Financial planning clients last fiscal year
- 0
Ashton Thomas Securities is paid through a percentage of assets under management; its fees and minimums are set out in its brochures on the SEC website.
Explorer Investment Holdings, LLC owns 75% or more of Ashton Thomas Securities and is in turn owned by Ashton Thomas Management, LLC (75% or more). The leadership team of Ashton Thomas Securities includes President Joseph Anthony Lanzisera, Chief Operating Officer Zbynek Kozelsky and Chief Compliance Officer Kimberly Johnson. It has 46 employees, 26 of them in advisory roles.
Leadership
- Joseph Anthony LanziseraPresident
- Zbynek KozelskyChief Operating Officer
- Kimberly JohnsonChief Compliance Officer
- Kevin KadingChief
Investment adviser representatives
37 representatives listed in the SEC register as of 9 October 2026.
- Matthew Bruce Adler
- Gerald Haig Ariyan
- Daniel Stephen Bauers
- Jennifer Lynne Beals
- Emil Joseph Bielecki
- Terrence Patrick Britt
- Mark Francis Cavalier
- Justin Cole Cuvelier
- Michael Patrick Davis
- Aileen F DeFroda
- Lorna Elizabeth Erb
- Jamie Thomas Fisher
- Ross B Fronk
- Hunter James Hendrix
- Justine Kinaj
- Zbynek Kozelsky
- Christine Lanzisera
- Joseph Anthony Lanzisera
- Tami Ann Lanzisera
- Randall Derrick Lee
- Robert James Lee
- Jennifer Lyn Lotta
- Theodore William McDonagh
- Nadejda Mocan
- Eric David Montijo
- David Wesley Prull II
- Josy Luis Reid-Espinal
- Collin Larry Rigler
- Peter Daniel Sartori
- Cory Blaine Schauer
- Jonathan Y Smith
- C Christopher Stafford
- Goda Stevens
- Jody Ann Swapp
- Mourad Tossounian
- Gregory Alan Weiss
- Phillip A Yargeau
Staff
- 46 employees
- 26 in advisory functions
- 33 state-registered reps
- 44 broker-dealer reps
- 19 insurance agents
- Owns 75% or more of Ashton Thomas Securities, LLC
Explorer Investment Holdings, LLC
Control person · since December 2023
- Owns 75% or more of Explorer Investment Holdings, LLC
Ashton Thomas Management, LLC
Control person · since October 2023
- Owns 75% or more of Ashton Thomas Securities, LLC
Arax Midco, LLC
Control person · since June 2023
- Owns 75% or more of Arax Midco, LLC
Arax Investment Partners, LLC
Control person · since June 2023
- Owns 75% or more of Arax Investment Partners, LLC
Arax Business Trust
Control person · since March 2023
Redbird Capital Partners Fund IV Genpar LLC
Trustee · Control person · since January 2023
Ashton Thomas Securities’ regulatory assets grew 5.7× from $328M (July 2021) to $1.86B (June 2026); clients rose from 1,300 to 2,282 and employees from 25 to 46.
Figures from each annual filing
| Filed | Regulatory AUM | Clients | Employees | Offices |
|---|---|---|---|---|
| June 2026 | $1.86B | 2,282 | 46 | 6 |
| March 2025 | $1.72B | 2,599 | 75 | 7 |
| June 2024 | $409M | 1,141 | 24 | 7 |
| June 2023 | $344M | 1,141 | 24 | 4 |
| June 2022 | $391M | 1,500 | 25 | 4 |
| July 2021 | $328M | 1,300 | 25 | 4 |
Besides its headquarters, Ashton Thomas Securities has 5 offices, with 6 listed addresses in Colorado, Massachusetts and New York.
New York · 4 listed addresses
- 100 Meridian Centre BLVD, Suite 250, RochesterHQ
- Square Deal Place, Endicott
- 2243 Lyell Ave, Rochester
- 10 E. 53rd St, New York
Colorado · 1 listed address
- 122 W Main Street, Aspen
Massachusetts · 1 listed address
- 53 State Street, Boston
Other business names
Ashton Thomas Securities has reported 2 other business names to the SEC.
- Cheevers Hand & Angeline LLC
- Erb Financial Services
Contact and registration details
- Legal name
- Ashton Thomas Securities, LLC
- Headquarters
- 100 Meridian Centre BLVD, Suite 250, Rochester, NY 14618
- Website
- ashtonthomaspw.com
- Phone
- 800-323-3746
- SEC file
- 801-69225
- Structure
- Delaware LLC
- Fiscal year end
- December
Ashton Thomas Securities uses Pershing ($1.86B) as custodian for its separately managed accounts. Ashton Thomas Securities does not have custody of client assets.
- PershingPershing LLC · Jersey City, NJ · $1.86B100%
At year end, Ashton Thomas Securities’ separately managed accounts were mostly in stocks (64%) and funds (28%). Its reported 13F holdings for the quarter ended 30 June 2026 total $677M across 378 positions; the largest are Vanguard Index Fds (9.0%), Invesco Exch Trd Slf Idx FD (4.1%) and Nvidia Corporation (4.0%).
What the accounts hold
- Stocks64%
- Exchange-traded equities63%
- Non-exchange-traded equities1%
- Funds28%
- Registered funds27%
- Pooled vehicles1%
- Bonds4%
- U.S. government and agency bonds2%
- State and local bonds1%
- Investment grade corporate bonds1%
- Cash3%
- Other1%
- Derivatives1%
Reported 13F holdings
- $677M
- Reported 13F value
- 378
- Positions
- 33.1%
- In the 10 largest
- −15.1%
- Value vs. prior quarter
- Vanguard Index Fds · S&P 500 ETF Shs9.0%
- Invesco Exch Trd Slf Idx FD · Rusl 1000 Dynm4.1%
- Nvidia Corporation4.0%
- Apple Inc.2.8%
- Microsoft Corp.2.4%
- Invesco Exch Trd Slf Idx FD · Intl Dev Dynamic2.4%
- Amazon Com Inc.2.3%
- Alphabet Inc. · Cap Stk CL A2.2%
- Vanguard Tax-managed Fds · Van FTSE Dev Mkt2.0%
- Invesco Exch Traded FD TR II · S&P 500 Revenue1.8%
Together, the ten largest are 33.1% of reported value.
How many clients does Ashton Thomas Securities have?
Ashton Thomas Securities has 2,282 clients and manages $1.86 billion for them, as of June 2026. They include 1,980 individual clients, 301 high-net-worth individuals and 1 corporate or other business client.
Source: Form ADV Part 1A, Items 5.D and 5.F, filed 3 June 2026
What services does Ashton Thomas Securities offer?
Ashton Thomas Securities provides financial planning, portfolio management for individuals and small businesses, and pension consulting.
Source: Form ADV Part 1A, Item 5.G, from the SEC's 2 October 2026 data file
Which custodians does Ashton Thomas Securities use?
Ashton Thomas Securities’ separately managed account assets are held at Pershing LLC (Jersey City, NJ), with $1.86B. Only custodians holding at least a tenth of those assets are named.
Source: Form ADV Part 1A, Schedule D, Section 5.K.(3), filed 3 June 2026
How many financial advisors does Ashton Thomas Securities have?
Ashton Thomas Securities has 33 investment adviser representatives registered with state securities authorities, out of 46 employees, and 26 perform investment advisory functions. 44 employees are registered representatives of a broker-dealer and 19 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 Ashton Thomas Securities invest in?
At the end of its last fiscal year, Ashton Thomas Securities’ separately managed accounts held 63% exchange-traded equities, 27% registered funds (mutual funds, ETFs, BDCs), 3% cash and equivalents, 2% U.S. government and agency bonds, 1% non-exchange-traded equities, 1% state and local bonds, 1% investment grade corporate bonds, 1% derivatives and 1% pooled vehicles (private funds and similar).
Source: Form ADV Part 1A, Items 5.K.(1) and 7.B, from the SEC's 2 October 2026 data file
Who owns Ashton Thomas Securities?
Ashton Thomas Securities is owned through holding companies by Ashton Thomas Management, LLC. Its direct owners are Explorer Investment Holdings, LLC (75% or more) and Arax Midco, LLC (75% or more).
Source: Form ADV Part 1A, Schedules A and B, filed 3 June 2026
How does Ashton Thomas Securities get paid?
Ashton Thomas Securities is paid through a percentage of assets under management. 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
How do I contact Ashton Thomas Securities?
Ashton Thomas Securities’ main office is at 100 Meridian Centre BLVD, Suite 250, Rochester, NY 14618. Its phone number is 800-323-3746. Its website is ashtonthomaspw.com.