CWA Asset Management Group provides financial planning, portfolio management for individuals and small businesses, portfolio management for pooled vehicles, portfolio management for institutions, pension consulting, selecting other managers, and publishing newsletters. Financial planning was provided to 1,000 clients last fiscal year. The firm advises 3 private funds.
CWA Asset Management Group reports 1,976 clients. They include 952 individual clients, 923 high-net-worth individuals, and 43 corporations and other businesses. Of its assets, 94.6% ($4.27B across 4,839 accounts) are managed with discretion; $244M across 202 accounts are not. It advised 1,975 clients without assets under management last fiscal year.
| Client type | Clients | Assets |
|---|---|---|
| Individuals (other than HNW) | 48% | 8% |
| High-net-worth individuals | 47% | 87% |
| Pooled investment vehicles | <1% | <1% |
| Pension and profit-sharing plans | 2% | 3% |
| Charitable organizations | <1% | 1% |
| Other client typesCorporations and other businesses | 2% | 2% |
Client breakdown and activity details
| Client type | Clients | Regulatory AUM | AUM share | Avg. per client |
|---|---|---|---|---|
| Individuals (other than HNW) | 952 | $347M | 7.7% | $364K |
| High-net-worth individuals | 923 | $3.91B | 86.5% | $4.23M |
| Pooled investment vehicles | 3 | $23.5M | 0.5% | $7.83M |
| Pension and profit-sharing plans | 40 | $116M | 2.6% | $2.91M |
| Charitable organizations | 15 | $50.8M | 1.1% | $3.39M |
| Corporations and other businesses | 43 | $71.5M | 1.6% | $1.66M |
| Total | 1,976 | $4.51B | 100% | $2.28M |
- Clients
- 952
- Regulatory AUM
- $347M
- AUM share
- 7.7%
- Avg. per client
- $364K
- Clients
- 923
- Regulatory AUM
- $3.91B
- AUM share
- 86.5%
- Avg. per client
- $4.23M
- Clients
- 3
- Regulatory AUM
- $23.5M
- AUM share
- 0.5%
- Avg. per client
- $7.83M
- Clients
- 40
- Regulatory AUM
- $116M
- AUM share
- 2.6%
- Avg. per client
- $2.91M
- Clients
- 15
- Regulatory AUM
- $50.8M
- AUM share
- 1.1%
- Avg. per client
- $3.39M
- Clients
- 43
- Regulatory AUM
- $71.5M
- AUM share
- 1.6%
- Avg. per client
- $1.66M
Total
- Clients
- 1,976
- Regulatory AUM
- $4.51B
- AUM share
- 100%
- Avg. per client
- $2.28M
- Clients outside the U.S.
- 0%
- Clients advised without assets under management last fiscal year
- 1,975
- Private funds advised
- 3
- Financial planning clients last fiscal year
- 1000
CWA Asset Management Group charges 0.50%–1.15% a year for its Investment Advisory Fees. Each asset band is charged at its own rate. The fee is billed in advance and is negotiable. The brochure also prices 2 other services, listed under fee details.
| Asset band | Annual rate |
|---|---|
| $0–$2.5M | 1.15% |
| $2.5M–$5M | 1.00% |
| $5M–$15M | 0.85% |
| $15M–$25M | 0.75% |
| $25M–$35M | 0.65% |
| $35M–$45M | 0.55% |
| $45M and above | 0.50% |
Fee details and sources
Other fees
- Family Office Services
- Family office service fees are negotiated with each family office for tax, estate, philanthropic planning and account administration.
- Financial Planning Services
- Financial planning fees are negotiated with each client by scope of work and may be deducted from the account like advisory fees.
Cwa Holdings, LLC owns 75% or more of CWA Asset Management Group. The leadership team of CWA Asset Management Group includes Chief Operating Officer Blaine Ferguson, Chief Financial Officer Richard Knepfler and Chief Compliance Officer Kimberly Key. It has 67 employees, 35 of them in advisory roles.
Leadership
- Richard KnepflerChief Financial Officer
- Blaine FergusonManaging Member, Chief Operating Officer
- Kimberly KeyChief Compliance Officer
- William BeynonManaging Member
- Lewis JohnsonManager
Investment adviser representatives
50 representatives listed in the SEC register as of 9 October 2026.
- Derek Walter Aicher
- Jason Allen Baum
- James Curtis Beachum III
- William Nick Beynon
- Blake David Bollinger
- Jason L Botwinick
- Philip Rees Brody
- Darian Hong Chen
- Thomas George Collins II
- Zachary Adam Craig
- Stephen Gerard English
- Blaine Michael Ferguson
- John Petsel Folz II
- Jeffrey Michael Galati
- Roxane Kronon Galati
- Hunter LIndsay Grand
- Adam Michael Hajjar
- Phillip A. Hajjar
- Matthew James Hickey
- Daniel Baret Howell
- Mikaela Elaine Hutton
- Patricia Willis Imperial
- Drewry Isaacson
- Lewis McKay Johnson
- Connor Patrick Joyce
- Jason Matthew Kaplan
- Jo Anne Keck
- Kimberly Ruth Key
- Tyler Justin Knight
- Daniel Blake London
- James E Love
- Michael Scott Martin
- Lane Matthew McCallum
- William Harold McClure III
- Joshua Paul Miller
- Deborah Lynn Minnick
- Santiago Mosquera Jr
- Colleen Mary Murphy
- Jake Larkin Murphy
- Todd Franklin Sampson
- Quinton Robert Smith
- Jordan James Spangler
- Mark Ronald Strey
- Lori Jeanne Taylor
- Brian James Tolin
- Joseph Anthony Tornincaso
- Karen Alejandra Vilorio Muchnik
- Barry Ross Walsh
- Ryan Allan Wharton
- Shad Mitchell White
Staff
- 67 employees
- 35 in advisory functions
- 40 state-registered reps
- 2 broker-dealer reps
- 31 insurance agents
- 7 soliciting firms
- Owns 75% or more of Cwa Asset Management Group, LLC
Cwa Holdings, LLC
Control person · since January 2022
- Owns 25% to 50% of Cwa Holdings, LLC
William Beynon
Control person · since August 2021
- Owns 25% to 50% of Cwa Holdings, LLC
Blaine Ferguson
Control person · since August 2021
- Owns 25% to 50% of Cwa Holdings, LLC
Lewis Johnson
Control person · since August 2021
- Owns 25% to 50% of Cwa Holdings, LLC
Joseph Moglia
Control person · since August 2021
- Owns 5% to 10% of Cwa Asset Management Group, LLC
Galleria 104, LLC
since January 2023
- Owns 75% or more of Galleria 104, LLC
George Wilson
Control person · since January 2023
CWA Asset Management Group’s regulatory assets grew 2.7× from $1.66B (February 2021) to $4.51B (July 2026); clients rose from 1,100 to 1,976 and employees from 41 to 67.
Figures from each annual filing
| Filed | Regulatory AUM | Clients | Employees | Offices |
|---|---|---|---|---|
| July 2026 | $4.51B | 1,976 | 67 | 5 |
| April 2025 | $3.34B | 1,575 | 52 | 4 |
| May 2024 | $2.53B | 1,575 | 51 | 4 |
| July 2023 | $2.18B | 1,333 | 47 | 5 |
| June 2022 | $2.02B | 1,134 | 42 | 3 |
| February 2021 | $1.66B | 1,100 | 41 | 3 |
Besides its headquarters, CWA Asset Management Group has 4 offices, with 5 listed addresses in Florida, North Carolina and Pennsylvania.
North Carolina · 2 listed addresses
- 4201 Congress St, Charlotte
- 5000 Center Green Way, Cary
Pennsylvania · 2 listed addresses
- 2626 West 8th Street, Erie
- 999 Eisenhower BLVD, Johnston
Florida · 1 listed address
- 9130 Galleria Court, Third Floor, NaplesHQ
Other business names
CWA Asset Management Group has reported 1 other business name to the SEC.
- Capital Wealth Advisors
Contact and registration details
- Legal name
- Cwa Asset Management Group, LLC
- Headquarters
- 9130 Galleria Court, Third Floor, Naples, FL 34109
- Website
- capitalwealthadvisors.com
- Phone
- 239-434-7434
- SEC file
- 801-79715
- Structure
- Delaware LLC
- Fiscal year end
- December
CWA Asset Management Group uses Charles Schwab ($4.08B) as custodian for its separately managed accounts. CWA Asset Management Group has custody of $1.77B in client assets for 1,787 clients.
- Charles SchwabCharles Schwab & Co., Inc. · San Francisco, CA · $4.08B100%
At year end, CWA Asset Management Group’s separately managed accounts were mostly in stocks (56%) and funds (26%). Its reported 13F holdings for the quarter ended 30 June 2026 total $3.28B across 720 positions; the largest are Nvidia Corporation (6.1%), Apple Inc. (5.1%) and Microsoft Corp. (2.3%).
What the accounts hold
- Stocks56%
- Exchange-traded equities55%
- Non-exchange-traded equities1%
- Funds26%
- Registered funds21%
- Pooled vehicles5%
- Bonds13%
- State and local bonds7%
- Investment grade corporate bonds4%
- U.S. government and agency bonds2%
- Cash5%
Reported 13F holdings
- $3.28B
- Reported 13F value
- 720
- Positions
- 26.3%
- In the 10 largest
- +11.4%
- Value vs. prior quarter
- Nvidia Corporation6.1%
- Apple Inc.5.1%
- Microsoft Corp.2.3%
- iShares TR · 1 3 YR Treas BD2.1%
- Vanguard Scottsdale Fds · Int-term Corp.2.0%
- Capitol Ser TR · Sterl Cap BD ETF1.8%
- Amazon Com Inc.1.8%
- Texas Pacific Land Corporati1.7%
- Alphabet Inc. · Cap Stk CL C1.7%
- Tenaris S A · Sponsored ADS1.7%
Together, the ten largest are 26.3% of reported value.
How many clients does CWA Asset Management Group have?
CWA Asset Management Group has 1,976 clients and manages $4.51 billion for them, as of July 2026. They include 952 individual clients, 923 high-net-worth individuals, and 43 corporations and other businesses.
Source: Form ADV Part 1A, Items 5.D and 5.F, filed 16 July 2026
What services does CWA Asset Management Group offer?
CWA Asset Management Group provides financial planning, portfolio management for individuals and small businesses, portfolio management for pooled vehicles, portfolio management for institutions, pension consulting, selecting other managers, and publishing newsletters.
Source: Form ADV Part 1A, Item 5.G, from the SEC's 2 October 2026 data file
How much does CWA Asset Management Group charge?
CWA Asset Management Group charges 0.50%–1.15% a year for its Investment Advisory Fees. Each asset band is charged at its own rate. The fee is billed in advance and is negotiable.
Which custodians does CWA Asset Management Group use?
CWA Asset Management Group’s separately managed account assets are held at Charles Schwab & Co., Inc. (San Francisco, CA), with $4.08B. Only custodians holding at least a tenth of those assets are named.
Source: Form ADV Part 1A, Schedule D, Section 5.K.(3), filed 16 July 2026
How many financial advisors does CWA Asset Management Group have?
CWA Asset Management Group has 40 investment adviser representatives registered with state securities authorities, out of 67 employees, and 35 perform investment advisory functions. 2 employees are registered representatives of a broker-dealer and 31 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 CWA Asset Management Group invest in?
At the end of its last fiscal year, CWA Asset Management Group’s separately managed accounts held 55% exchange-traded equities, 21% registered funds (mutual funds, ETFs, BDCs), 7% state and local bonds, 5% pooled vehicles (private funds and similar), 5% cash and equivalents, 4% investment grade corporate bonds, 2% U.S. government and agency bonds and 1% non-exchange-traded equities. It advises 3 private funds.
Source: Form ADV Part 1A, Items 5.K.(1) and 7.B, from the SEC's 2 October 2026 data file
Who owns CWA Asset Management Group?
CWA Asset Management Group is owned through holding companies by William Beynon, Blaine Ferguson, Lewis Johnson, Joseph Moglia and George Wilson. Its direct owners are Cwa Holdings, LLC (75% or more) and Galleria 104, LLC (5% to 10%).
Source: Form ADV Part 1A, Schedules A and B, filed 16 July 2026
How does CWA Asset Management Group get paid?
CWA Asset Management Group is paid through a percentage of assets under management, fixed fees and performance-based fees. Its Form ADV lists no commissions among how it is paid.
Source: Form ADV Part 1A, Item 5.E, from the SEC's 2 October 2026 data file
Is CWA Asset Management Group registered with the SEC?
Yes, CWA Asset Management Group has been registered with the SEC as an investment adviser since 22 May 2014. Its CRD number is 158940 and its SEC file number is 801-79715.
Source: Form ADV Part 1A, Item 1, filed 16 July 2026; IAPD firm record
How do I contact CWA Asset Management Group?
CWA Asset Management Group’s main office is at 9130 Galleria Court, Third Floor, Naples, FL 34109. Its phone number is 239-434-7434. Its website is capitalwealthadvisors.com.