Aspen Wealth Management provides financial planning, portfolio management for individuals and small businesses, pension consulting, education planning, estate planning, insurance, tax planning, and tax preparation. Financial planning was provided to 11–25 clients last fiscal year.
Aspen Wealth Management reports 353 clients. They include 188 high-net-worth individuals, 158 individual clients, and 7 corporations and other businesses. Of its assets, 99.6% ($655M across 1,063 accounts) are managed with discretion; $2.94M across 58 accounts are not. A wrap fee program the firm both sponsors and manages holds $7.3B. It advised 20 clients without assets under management last fiscal year.
| Client type | Clients | Assets |
|---|---|---|
| Individuals (other than HNW) | 45% | 12% |
| High-net-worth individuals | 53% | 86% |
| Corporations and other businesses | 2% | 1% |
Client breakdown and activity details
| Client type | Clients | Regulatory AUM | AUM share | Avg. per client |
|---|---|---|---|---|
| Individuals (other than HNW) | 158 | $82M | 12.5% | $519K |
| High-net-worth individuals | 188 | $569M | 86.4% | $3.02M |
| Corporations and other businesses | 7 | $7.27M | 1.1% | $1.04M |
| Total | 353 | $658M | 100% | $1.86M |
- Clients
- 158
- Regulatory AUM
- $82M
- AUM share
- 12.5%
- Avg. per client
- $519K
- Clients
- 188
- Regulatory AUM
- $569M
- AUM share
- 86.4%
- Avg. per client
- $3.02M
- Clients
- 7
- Regulatory AUM
- $7.27M
- AUM share
- 1.1%
- Avg. per client
- $1.04M
Total
- Clients
- 353
- Regulatory AUM
- $658M
- AUM share
- 100%
- Avg. per client
- $1.86M
- Clients outside the U.S.
- 0%
- Clients advised without assets under management last fiscal year
- 20
- Private funds advised
- 0
- Financial planning clients last fiscal year
- 11–25
Aspen Wealth Management charges 0.50%–1.25% a year for its Wealth Management Program. The whole portfolio is charged at the rate of its band. The fee is billed in advance and is negotiable. The brochure also prices one other service, listed under fee details.
| Asset band | Annual rate |
|---|---|
| $0–$1M | 1.25% |
| $1M–$2M | 1.00% |
| $2M–$4M | 0.85% |
| $4M–$7M | 0.75% |
| $7M–$10M | 0.60% |
| $10M and above | 0.50% |
Fee details and sources
Other fees
- Financial Consulting and Planning
- Financial planning and consulting is billed hourly at $300 per hour, with a minimum of $4,500 for each plan.
Helen Stephens owns 50% to 75% of Aspen Wealth Management. The leadership team of Aspen Wealth Management includes President Helen Stephens. It has 9 employees, 6 of them in advisory roles.
Leadership
- Helen StephensPresident, Chief Compliance Officer
- James DavisMember
Nathan DavisMember- Candace ScholzMember
Investment adviser representatives
8 representatives listed in the SEC register as of 9 October 2026.
Staff
- 9 employees
- 6 in advisory functions
- 6 state-registered reps
- Owns 50% to 75% of Aspen Wealth Management, LLC
Helen Stephens
Control person · since May 2011
- Owns 10% to 25% of Aspen Wealth Management, LLC
Nathan Davis
since January 2019
- Owns 10% to 25% of Aspen Wealth Management, LLC
Candace Scholz
since January 2018
Aspen Wealth Management’s regulatory assets grew 3.5× from $186M (June 2021) to $658M (April 2026); clients rose from 197 to 353 and employees from 5 to 9.
Figures from each annual filing
| Filed | Regulatory AUM | Clients | Employees | Offices |
|---|---|---|---|---|
| April 2026 | $658M | 353 | 9 | 2 |
| July 2025 | $510M | 334 | 9 | 2 |
| February 2024 | $368M | 293 | 9 | 2 |
| May 2023 | $291M | 257 | 8 | 2 |
| July 2022 | $292M | 237 | 8 | 2 |
| June 2021 | $186M | 197 | 5 | 2 |
Besides its headquarters, Aspen Wealth Management has 1 office, with 2 listed addresses in Texas.
Texas · 2 listed addresses
- 4200 S. Hulen St., Suite 422, Fort WorthHQ
- 1110 N. Kimball Avenue, Southlake
Contact and registration details
- Legal name
- Aspen Wealth Management, LLC
- Headquarters
- 4200 S. Hulen St., Suite 422, Fort Worth, TX 76109
- Website
- aspenwealthmgmt.com
- Phone
- 817-546-6353
- @aspenwealthmanagement
- SEC file
- 801-114243
- Founded
- 2011
- Structure
- Texas LLC
- Fiscal year end
- December
Aspen Wealth Management uses Charles Schwab ($648M) as custodian for its separately managed accounts. Aspen Wealth Management has custody of $12.7K in client assets for 3 clients.
- Charles SchwabCharles Schwab & Co., Inc. · West Lake, TX · $648M100%
At year end, Aspen Wealth Management’s separately managed accounts were mostly in funds (84%). Its reported 13F holdings for the quarter ended 30 June 2026 total $589M across 132 positions; the largest are Dimensional ETF Trust (11.5%), Dimensional ETF Trust (9.6%) and iShares TR (9.1%).
What the accounts hold
- Stocks8%
- Funds84%
- Cash4%
Filed values cover 96%. The neutral 4% gap has no reported category.
Reported 13F holdings
- $589M
- Reported 13F value
- 132
- Positions
- 65.3%
- In the 10 largest
- +17.5%
- Value vs. prior quarter
- Dimensional ETF Trust · US Equi Mark ETF11.5%
- Dimensional ETF Trust · Intl Core Equity9.6%
- iShares TR · MSCI USA Qlt Fct9.1%
- Dimensional ETF Trust · US Targeted Vlu6.9%
- J P Morgan Exchange Traded F · Core Plus BD ETF6.8%
- iShares TR · Core S&P US Gwt6.8%
- Dimensional ETF Trust · US Cor Equ 2 ETF5.9%
- Vanguard Intl Equity Index F · FTSE Emr Mkt ETF3.8%
- J P Morgan Exchange Traded F · Municipal ETF2.6%
- J P Morgan Exchange Traded F · Ultra Shrt ETF2.3%
Together, the ten largest are 65.3% of reported value.
How many clients does Aspen Wealth Management have?
Aspen Wealth Management has 353 clients and manages $658 million for them, as of April 2026. They include 188 high-net-worth individuals, 158 individual clients, and 7 corporations and other businesses.
Source: Form ADV Part 1A, Items 5.D and 5.F, filed 13 April 2026
What services does Aspen Wealth Management offer?
Aspen Wealth Management provides financial planning, portfolio management for individuals and small businesses, pension consulting, education planning, estate planning, insurance, tax planning, and tax preparation.
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 Aspen Wealth Management charge?
Aspen Wealth Management charges 0.50%–1.25% a year for its Wealth Management Program. The whole portfolio is charged at the rate of its band. The fee is billed in advance and is negotiable.
Which custodians does Aspen Wealth Management use?
Aspen Wealth Management’s separately managed account assets are held at Charles Schwab & Co., Inc. (West Lake, TX), with $648M. Only custodians holding at least a tenth of those assets are named.
Source: Form ADV Part 1A, Schedule D, Section 5.K.(3), filed 13 April 2026
How many financial advisors does Aspen Wealth Management have?
Aspen Wealth Management has 6 investment adviser representatives registered with state securities authorities, out of 9 employees, and 6 perform investment advisory functions. None are registered representatives of a broker-dealer or 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 Aspen Wealth Management invest in?
At the end of its last fiscal year, Aspen Wealth Management’s separately managed accounts held 84% registered funds (mutual funds, ETFs, BDCs), 8% exchange-traded equities and 4% 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 Aspen Wealth Management?
Aspen Wealth Management’s direct owners are Helen Stephens (50% to 75%), Nathan Davis (10% to 25%) and Candace Scholz (10% to 25%).
Source: Form ADV Part 1A, Schedules A and B, filed 13 April 2026
How does Aspen Wealth Management get paid?
Aspen Wealth Management is paid through a percentage of assets under management and hourly charges. 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 Aspen Wealth Management registered with the SEC?
Yes, Aspen Wealth Management has been registered with the SEC as an investment adviser since 5 November 2018. Its CRD number is 159594 and its SEC file number is 801-114243.
Source: Form ADV Part 1A, Item 1, filed 13 April 2026; IAPD firm record
How do I contact Aspen Wealth Management?
Aspen Wealth Management’s main office is at 4200 S. Hulen St., Suite 422, Fort Worth, TX 76109. Its phone number is 817-546-6353. Its website is aspenwealthmgmt.com.