Cornerstone Wealth Advisors 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.
Cornerstone Wealth Advisors reports 157 clients. They include 105 individual clients, 50 high-net-worth individuals and 1 pension or profit-sharing plan. Of its assets, 96.2% ($140M across 423 accounts) are managed with discretion; $5.5M across 2 accounts are not.
| Client type | Clients | Assets |
|---|---|---|
| Individuals (other than HNW) | 67% | 17% |
| High-net-worth individuals | 32% | 80% |
| Pension and profit-sharing plans | <1% | 2% |
| Charitable organizations | <1% | <1% |
Client breakdown and activity details
| Client type | Clients | Regulatory AUM | AUM share | Avg. per client |
|---|---|---|---|---|
| Individuals (other than HNW) | 105 | $25M | 17.2% | $238K |
| High-net-worth individuals | 50 | $117M | 80.3% | $2.34M |
| Pension and profit-sharing plans | 1 | $3.5M | 2.4% | $3.5M |
| Charitable organizations | Fewer than 5 | $130K | 0.1% | $130K |
| Total | 157 | $146M | 100% | — |
- Clients
- 105
- Regulatory AUM
- $25M
- AUM share
- 17.2%
- Avg. per client
- $238K
- Clients
- 50
- Regulatory AUM
- $117M
- AUM share
- 80.3%
- Avg. per client
- $2.34M
- Clients
- 1
- Regulatory AUM
- $3.5M
- AUM share
- 2.4%
- Avg. per client
- $3.5M
- Clients
- Fewer than 5
- Regulatory AUM
- $130K
- AUM share
- 0.1%
- Avg. per client
- $130K
Total
- Clients
- 157
- Regulatory AUM
- $146M
- 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
- 1–10
Cornerstone Wealth Advisors is paid through a percentage of assets under management, hourly charges and fixed fees (other than subscription fees). The reviewed brochures do not disclose an asset-based fee rate. Read the SEC-filed brochure. The brochure also prices 3 other services, listed under fee details.
Fee details and sources
Other fees
- ERISA Plan Services
- Annual fees based on the market value of included assets, not to exceed 1.5%, billed quarterly in arrears.
- Financial Planning (Fixed Fee)
- Financial planning is offered at a maximum flat fee of $10,000.
- Financial Planning (Hourly)
- Financial planning is offered at an hourly fee of $250 per hour.
Denise Barrett owns 50% to 75% of Cornerstone Wealth Advisors. Denise Barrett is CEO; the leadership team includes Chief Compliance Officer Michael Sellman. It has 4 employees.
Leadership
- Denise BarrettChief Executive Officer
- Michael SellmanChief Compliance Officer
Investment adviser representatives
4 representatives listed in the SEC register as of 9 October 2026.
Staff
- 4 employees
- 4 in advisory functions
- 4 state-registered reps
- 3 insurance agents
- 3 soliciting firms
- Owns 50% to 75% of Cornerstone Wealth Advisors, Inc.
Denise Barrett
Control person · since August 2014
- Owns 25% to 50% of Cornerstone Wealth Advisors, Inc.
Michael Sellman
Control person · since February 2014
Cornerstone Wealth Advisors’ regulatory assets grew from $110M (June 2025) to $146M (February 2026); clients were 157 in both filings and employees were 4 in both filings.
Figures from each annual filing
| Filed | Regulatory AUM | Clients | Employees | Offices |
|---|---|---|---|---|
| February 2026 | $146M | 157 | 4 | 3 |
| June 2025 | $110M | 162 | 4 | 3 |
Besides its headquarters, Cornerstone Wealth Advisors has 2 offices (1 private residence, listed without an address), with 2 listed addresses in California.
California · 2 listed addresses
- 1808 Aston Avenue, Suite 150, CarlsbadHQ
- 34155 Pacific Coast Highway, Dana Point
Contact and registration details
- Legal name
- Cornerstone Wealth Advisors, Inc.
- Headquarters
- 1808 Aston Avenue, Suite 150, Carlsbad, CA 92008
- Website
- cwainvestors.com
- Phone
- 760-476-1376
- @1798870
- SEC file
- 801-132490
- Structure
- California corporation
- Fiscal year end
- December
Cornerstone Wealth Advisors uses Charles Schwab ($142M) as custodian for its separately managed accounts. Cornerstone Wealth Advisors does not have custody of client assets.
- Charles SchwabCharles Schwab & Co., Inc. · San Francisco, CA · $142M100%
At year end, Cornerstone Wealth Advisors’ separately managed accounts were largely in stocks (44%) and funds (42%).
What the accounts hold
- Stocks44%
- Exchange-traded equities43%
- Non-exchange-traded equities1%
- Funds42%
- Bonds3%
- U.S. government and agency bonds1%
- Investment grade corporate bonds1%
- High-yield corporate bonds1%
- Cash2%
- Other9%
- Alternative investments9%
How many clients does Cornerstone Wealth Advisors have?
Cornerstone Wealth Advisors has 157 clients and manages $146 million for them, as of February 2026. They include 105 individual clients, 50 high-net-worth individuals and 1 pension or profit-sharing plan.
Source: Form ADV Part 1A, Items 5.D and 5.F, filed 13 February 2026
What services does Cornerstone Wealth Advisors offer?
Cornerstone Wealth Advisors 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
Which custodians does Cornerstone Wealth Advisors use?
Cornerstone Wealth Advisors’ separately managed account assets are held at Charles Schwab & Co., Inc. (San Francisco, CA), with $142M. 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 February 2026
How many financial advisors does Cornerstone Wealth Advisors have?
Cornerstone Wealth Advisors has 4 investment adviser representatives registered with state securities authorities, out of 4 employees, and 4 perform investment advisory functions. 0 employees are registered representatives of a broker-dealer and 3 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 Cornerstone Wealth Advisors invest in?
At the end of its last fiscal year, Cornerstone Wealth Advisors’ separately managed accounts held 43% exchange-traded equities, 42% registered funds (mutual funds, ETFs, BDCs), 9% other, 2% cash and equivalents, 1% non-exchange-traded equities, 1% U.S. government and agency bonds, 1% investment grade corporate bonds and 1% high-yield corporate bonds. The 9% other category is described as: Alternative Investments.
Source: Form ADV Part 1A, Items 5.K.(1) and 7.B, from the SEC's 2 October 2026 data file
Who owns Cornerstone Wealth Advisors?
Cornerstone Wealth Advisors’ direct owners are Michael Sellman (25% to 50%) and Denise Barrett (50% to 75%).
Source: Form ADV Part 1A, Schedules A and B, filed 13 February 2026
How does Cornerstone Wealth Advisors get paid?
Cornerstone Wealth Advisors 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 Cornerstone Wealth Advisors?
Cornerstone Wealth Advisors’ main office is at 1808 Aston Avenue, Suite 150, Carlsbad, CA 92008. Its phone number is 760-476-1376. Its website is cwainvestors.com.