Carolina Wealth Management provides financial planning, portfolio management for individuals and small businesses, portfolio management for institutions, pension consulting, selecting other managers, publishing newsletters, and educational seminars. Financial planning was provided to 11–25 clients last fiscal year.
Carolina Wealth Management reports 646 clients. They include 443 individual clients, 144 high-net-worth individuals, and 42 pension and profit-sharing plans. Of its assets, 73.1% ($584M across 1,411 accounts) are managed with discretion; $215M across 83 accounts are not.
| Client type | Clients | Assets |
|---|---|---|
| Individuals (other than HNW) | 69% | 16% |
| High-net-worth individuals | 22% | 56% |
| Pension and profit-sharing plans | 7% | 25% |
| Charitable organizations | 1% | <1% |
| Corporations and other businesses | 1% | 2% |
Client breakdown and activity details
| Client type | Clients | Regulatory AUM | AUM share | Avg. per client |
|---|---|---|---|---|
| Individuals (other than HNW) | 443 | $130M | 16.3% | $293K |
| High-net-worth individuals | 144 | $446M | 55.8% | $3.09M |
| Pension and profit-sharing plans | 42 | $201M | 25.2% | $4.79M |
| Charitable organizations | 9 | $4.07M | 0.5% | $452K |
| Corporations and other businesses | 8 | $18M | 2.3% | $2.25M |
| Total | 646 | $798M | 100% | $1.24M |
- Clients
- 443
- Regulatory AUM
- $130M
- AUM share
- 16.3%
- Avg. per client
- $293K
- Clients
- 144
- Regulatory AUM
- $446M
- AUM share
- 55.8%
- Avg. per client
- $3.09M
- Clients
- 42
- Regulatory AUM
- $201M
- AUM share
- 25.2%
- Avg. per client
- $4.79M
- Clients
- 9
- Regulatory AUM
- $4.07M
- AUM share
- 0.5%
- Avg. per client
- $452K
- Clients
- 8
- Regulatory AUM
- $18M
- AUM share
- 2.3%
- Avg. per client
- $2.25M
Total
- Clients
- 646
- Regulatory AUM
- $798M
- AUM share
- 100%
- Avg. per client
- $1.24M
- 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
- 11–25
Carolina Wealth Management charges 0.50%–1.00% for its Investment Management Services. The brochure does not state whether the rate is annual. The fee is billed in arrears and is negotiable. The brochure also prices one other service, listed under fee details.
Fee details and sources
Other fees
- Financial Planning Services
- Limited-scope planning is billed hourly at $250 (plus expenses) or as a fixed fee not exceeding $2,500; no advance payment is accepted.
David Damm owns 25% to 50% of Carolina Wealth Management. David Damm is CEO; the leadership team includes President Derek Pszenny. It has 10 employees, 8 of them in advisory roles.
Leadership
David DammChief Executive Officer
Derek PszennyPresident, Chief Compliance Officer- David SilverOwner
Investment adviser representatives
8 representatives listed in the SEC register as of 9 October 2026.
Staff
- 10 employees
- 8 in advisory functions
- 8 state-registered reps
- 1 insurance agent
- Owns 25% to 50% of Carolina Wealth Management, Inc.
David Damm
Control person · since April 2004
- Owns 25% to 50% of Carolina Wealth Management, Inc.
Derek Pszenny
Control person · since March 2005
- Owns 5% to 10% of Carolina Wealth Management, Inc.
David Silver
Control person · since March 2005
Carolina Wealth Management’s regulatory assets grew 1.8× from $444M (March 2021) to $798M (April 2026); clients rose from 467 to 646 and employees from 6 to 10.
Figures from each annual filing
| Filed | Regulatory AUM | Clients | Employees | Offices |
|---|---|---|---|---|
| April 2026 | $798M | 646 | 10 | 2 |
| March 2025 | $712M | 595 | 10 | 2 |
| March 2024 | $624M | 562 | 9 | 2 |
| March 2023 | $516M | 508 | 8 | 3 |
| March 2022 | $589M | 489 | 8 | 3 |
| March 2021 | $444M | 467 | 6 | 2 |
Besides its headquarters, Carolina Wealth Management has 1 office, with 2 listed addresses in North Carolina.
North Carolina · 2 listed addresses
- 1706-A East Arlington BLVD., GreenvilleHQ
- 244 Olmsted BLVD., Pinehurst
Contact and registration details
- Legal name
- Carolina Wealth Management, Inc.
- Headquarters
- 1706-A East Arlington BLVD., Greenville, NC 27858
- Website
- mycarolinawealth.com
- Phone
- 252-439-1344
- @carolina-wealth-management-inc-
- SEC file
- 801-63091
- Structure
- North Carolina corporation
- Fiscal year end
- December
Carolina Wealth Management uses Charles Schwab ($586M) as custodian for its separately managed accounts. Carolina Wealth Management has custody of $160M in client assets for 248 clients.
- Charles SchwabCharles Schwab & Co., Inc. · San Francisco, CA · $586M100%
At year end, Carolina Wealth Management’s separately managed accounts were mostly in funds (69%) and stocks (24%). Its reported 13F holdings for the quarter ended 30 June 2026 total $217M across 114 positions; the largest are Schwab Strategic TR (13.4%), Schwab Strategic TR (13.3%) and Vanguard Index Fds (7.3%).
What the accounts hold
- Stocks24%
- Exchange-traded equities23%
- Non-exchange-traded equities1%
- Funds69%
- Registered funds68%
- Pooled vehicles1%
- Bonds5%
- State and local bonds2%
- U.S. government and agency bonds1%
- Investment grade corporate bonds1%
- High-yield corporate bonds1%
- Cash2%
Reported 13F holdings
- $217M
- Reported 13F value
- 114
- Positions
- 54.5%
- In the 10 largest
- —
- Value vs. prior quarter
- Schwab Strategic TR · US Lcap GR ETF13.4%
- Schwab Strategic TR · US Dividend EQ13.3%
- Vanguard Index Fds · Growth ETF7.3%
- Vanguard Whitehall Fds · High Div Yld4.6%
- Vanguard Index Fds · Sml CP Grw ETF4.3%
- iShares TR · Hdg MSCI Eafe2.8%
- Invesco Exchange Traded FD T · S&P Mdcp Quality2.3%
- Invesco Qqq TR · Unit Ser 12.3%
- Vanguard Index Fds · Total Stk Mkt2.2%
- SPDR Series Trust · ST Str Sp600grwo2.2%
Together, the ten largest are 54.5% of reported value.
How many clients does Carolina Wealth Management have?
Carolina Wealth Management has 646 clients and manages $798 million for them, as of April 2026. They include 443 individual clients, 144 high-net-worth individuals, and 42 pension and profit-sharing plans.
Source: Form ADV Part 1A, Items 5.D and 5.F, filed 27 April 2026
What services does Carolina Wealth Management offer?
Carolina Wealth Management provides financial planning, portfolio management for individuals and small businesses, portfolio management for institutions, pension consulting, selecting other managers, publishing newsletters, and educational seminars.
Source: Form ADV Part 1A, Item 5.G, from the SEC's 2 October 2026 data file
How much does Carolina Wealth Management charge?
Carolina Wealth Management charges 0.50%–1.00% for its Investment Management Services. The brochure does not state whether the rate is annual. The fee is billed in arrears and is negotiable.
Which custodians does Carolina Wealth Management use?
Carolina Wealth Management’s separately managed account assets are held at Charles Schwab & Co., Inc. (San Francisco, CA), with $586M. Only custodians holding at least a tenth of those assets are named.
Source: Form ADV Part 1A, Schedule D, Section 5.K.(3), filed 27 April 2026
How many financial advisors does Carolina Wealth Management have?
Carolina Wealth Management has 8 investment adviser representatives registered with state securities authorities, out of 10 employees, and 8 perform investment advisory functions. 0 employees are registered representatives of a broker-dealer and 1 employee is a licensed insurance agent.
Source: Form ADV Part 1A, Items 5.A and 5.B, from the SEC's 2 October 2026 data file
What does Carolina Wealth Management invest in?
At the end of its last fiscal year, Carolina Wealth Management’s separately managed accounts held 68% registered funds (mutual funds, ETFs, BDCs), 23% exchange-traded equities, 2% state and local bonds, 2% cash and equivalents, 1% non-exchange-traded equities, 1% U.S. government and agency bonds, 1% investment grade corporate bonds, 1% high-yield corporate bonds 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 Carolina Wealth Management?
Carolina Wealth Management’s direct owners are David Damm, Derek Pszenny and David Silver, each holding 50% or less.
Source: Form ADV Part 1A, Schedules A and B, filed 27 April 2026
How does Carolina Wealth Management get paid?
Carolina Wealth Management 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 Carolina Wealth Management?
Carolina Wealth Management’s main office is at 1706-A East Arlington BLVD., Greenville, NC 27858. Its phone number is 252-439-1344. Its website is mycarolinawealth.com.