Cannon Wealth Management Services provides financial planning, portfolio management for individuals and small businesses, portfolio management for institutions, pension consulting, and selecting other managers. Financial planning was provided to 1–10 clients last fiscal year.
Cannon Wealth Management Services reports 411 clients. They include 321 individual clients, 53 high-net-worth individuals and 30 other clients. Of its assets, 98.1% ($241M across 966 accounts) are managed with discretion; $4.57M across 35 accounts are not. A wrap fee program the firm both sponsors and manages holds $26.7M. It advised 7 clients without assets under management last fiscal year.
| Client type | Clients | Assets |
|---|---|---|
| Individuals (other than HNW) | 78% | 43% |
| High-net-worth individuals | 13% | 38% |
| Pension and profit-sharing plans | <1% | <1% |
| Charitable organizations | 1% | <1% |
| Other | 7% | 17% |
Client breakdown and activity details
| Client type | Clients | Regulatory AUM | AUM share | Avg. per client |
|---|---|---|---|---|
| Individuals (other than HNW) | 321 | $106M | 43.1% | $329K |
| High-net-worth individuals | 53 | $94M | 38.3% | $1.77M |
| Pension and profit-sharing plans | Fewer than 5 | $993K | 0.4% | $993K |
| Charitable organizations | 6 | $2.06M | 0.8% | $344K |
| Other | 30 | $42.5M | 17.3% | $1.42M |
| Total | 411 | $245M | 100% | — |
- Clients
- 321
- Regulatory AUM
- $106M
- AUM share
- 43.1%
- Avg. per client
- $329K
- Clients
- 53
- Regulatory AUM
- $94M
- AUM share
- 38.3%
- Avg. per client
- $1.77M
- Clients
- Fewer than 5
- Regulatory AUM
- $993K
- AUM share
- 0.4%
- Avg. per client
- $993K
- Clients
- 6
- Regulatory AUM
- $2.06M
- AUM share
- 0.8%
- Avg. per client
- $344K
- Clients
- 30
- Regulatory AUM
- $42.5M
- AUM share
- 17.3%
- Avg. per client
- $1.42M
Total
- Clients
- 411
- Regulatory AUM
- $245M
- 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
- 1–10
Cannon Wealth Management Services charges 0.30%–1.80% a year for its Investment Management Services. Each asset band is charged at its own rate. The fee is billed in arrears and is negotiable. The brochure also prices one other service, listed under fee details.
| Asset band | Annual rate |
|---|---|
| $0–$100K | 1.80% |
| $100K–$250K | 1.675% |
| $250K–$500K | 1.55% |
| $500K–$1M | 1.425% |
| $1M–$2M | 1.30% |
| $2M–$3M | 1.175% |
| $3M–$4M | 1.05% |
| $4M–$5M | 0.925% |
| $5M–$7.5M | 0.80% |
| $7.5M–$10M | 0.675% |
| $10M–$12.5M | 0.55% |
| $12.5M–$15M | 0.425% |
| $15M and above | 0.30% |
Fee details and sources
Other fees
- Financial Planning and Consulting
- Financial planning is a fixed fee of up to $25,000 depending on plan complexity, or an hourly fee of up to $400 for some clients.
William Amburn owns 25% to 50% of Cannon Wealth Management Services. Raymond Wilcox is CEO; the leadership team includes Chief Operating Officer Matthew Hearn, Chief Financial Officer Joseph Perkins and Chief Compliance Officer Michelle McCarthy. It has 8 employees, 5 of them in advisory roles.
Staff
- 8 employees
- 5 in advisory functions
- 5 state-registered reps
- 4 broker-dealer reps
- 5 insurance agents
- Owns 25% to 50% of Cannon Wealth Management Services, LLC
William Amburn
Control person · since November 2000
- Owns 25% to 50% of Cannon Wealth Management Services, LLC
Matthew Hearn
Control person · since September 2022
- Owns 25% to 50% of Cannon Wealth Management Services, LLC
Raymond Wilcox
Control person · since September 2022
- Owns 25% to 50% of Cannon Wealth Management Services, LLC
Joseph Perkins
Control person · since September 2022
Cannon Wealth Management Services’ regulatory assets grew 1.7× from $147M (May 2023) to $245M (April 2026); clients rose from 386 to 411 and employees fell from 10 to 8.
Figures from each annual filing
| Filed | Regulatory AUM | Clients | StaffEmployees | Offices |
|---|---|---|---|---|
| Apr 2026April 2026 | $245M | 411 | 8 | 2 |
| Feb 2025February 2025 | $213M | 403 | 11 | 2 |
| Mar 2024March 2024 | $176M | 396 | 11 | 2 |
| May 2023May 2023 | $147M | 386 | 10 | 3 |
Besides its headquarters, Cannon Wealth Management Services has 1 office, with 2 listed addresses in 1 state.
North Carolina · 2 listed addresses
- 2160 Country Club Road, Winston SalemHQ
- 104 W Dalton RD, King
Contact and registration details
- Legal name
- Cannon Wealth Management Services, LLC
- Headquarters
- 2160 Country Club Road, Winston Salem, NC 27104
- Website
- cannon-wealth.com
- Phone
- 336-231-6844
- @16084472
- SEC file
- 801-126703
- Structure
- North Carolina LLC
- Fiscal year end
- December
Cannon Wealth Management Services’ named custodian for separately managed accounts is Charles Schwab ($240M). Cannon Wealth Management Services has custody of $75.3M for 325 clients.
- Charles SchwabCharles Schwab & Co., Inc. · Westlake, TX · $240M100%
At year end, Cannon Wealth Management Services’ separately managed accounts were mostly in funds (66%) and stocks (21%). Its reported 13F holdings for the quarter ended 30 June 2026 total $183M across 99 positions; the largest are SPDR Series Trust (8.1%), J P Morgan Exchange Traded F (6.2%) and Capital Group Core Equity ET (5.2%).
What the accounts hold
- Stocks21%
- Exchange-traded equities19%
- Non-exchange-traded equities2%
- Funds66%
- Registered funds65%
- Pooled vehicles1%
- Bonds5%
- U.S. government and agency bonds3%
- State and local bonds1%
- Investment grade corporate bonds1%
- Cash6%
- Other2%
- Fixed and variable annuities2%
How many clients does Cannon Wealth Management Services have?
Cannon Wealth Management Services has 411 clients and manages $245 million for them, as of April 2026. They include 321 individual clients, 53 high-net-worth individuals and 30 other clients.
Source: Form ADV Part 1A, Items 5.D and 5.F, filed 30 April 2026
What services does Cannon Wealth Management Services offer?
Cannon Wealth Management Services provides financial planning, portfolio management for individuals and small businesses, portfolio management for institutions, pension consulting, and selecting other managers.
Source: Form ADV Part 1A, Item 5.G, from the SEC's 2 October 2026 data file
How much does Cannon Wealth Management Services charge?
Cannon Wealth Management Services charges 0.30%–1.80% a year for its Investment Management Services. Each asset band is charged at its own rate. The fee is billed in arrears and is negotiable.
Source: CANNON WEALTH MANAGEMENT SERVICES FORM ADV PART 2A, filed 29 April 2026
Which custodians does Cannon Wealth Management Services use?
Cannon Wealth Management Services’ separately managed account assets are held at Charles Schwab & Co., Inc. (Westlake, TX), with $240M. Only custodians holding at least a tenth of those assets are named.
Source: Form ADV Part 1A, Schedule D, Section 5.K.(3), filed 30 April 2026
How many financial advisors does Cannon Wealth Management Services have?
Cannon Wealth Management Services has 5 investment adviser representatives registered with state securities authorities, out of 8 employees, and 5 perform investment advisory functions. 4 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 Cannon Wealth Management Services invest in?
At the end of its last fiscal year, Cannon Wealth Management Services’ separately managed accounts held 65% registered funds (mutual funds, ETFs, BDCs), 19% exchange-traded equities, 6% cash and equivalents, 3% U.S. government and agency bonds, 2% non-exchange-traded equities, 2% other, 1% state and local bonds, 1% investment grade corporate bonds and 1% pooled vehicles (private funds and similar). The 2% other category is described as: Fixed and Variable Annuities.
Source: Form ADV Part 1A, Items 5.K.(1) and 7.B, from the SEC's 2 October 2026 data file
Who owns Cannon Wealth Management Services?
Cannon Wealth Management Services’ direct owners are William Amburn, Matthew Hearn, Raymond Wilcox and Joseph Perkins, each holding 50% or less.
Source: Form ADV Part 1A, Schedules A and B, filed 30 April 2026
How does Cannon Wealth Management Services get paid?
Cannon Wealth Management Services is paid through a percentage of assets under management, hourly charges 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
How do I contact Cannon Wealth Management Services?
Cannon Wealth Management Services’ main office is at 2160 Country Club Road, Winston Salem, NC 27104. Its phone number is 336-231-6844. Its website is cannon-wealth.com.
