DW Management Services provides portfolio management for pooled vehicles. The firm advises 12 private funds.
DW Management Services reports 12 pooled investment vehicles. These counts refer to investment vehicles, rather than the individual investors in them. Of its assets, 100.0% ($2.74B across 12 accounts) are managed with discretion. Of its clients, 17% are outside the U.S.
| Client type | Clients | Assets |
|---|---|---|
| Pooled investment vehicles | 100% | 100% |
Client breakdown and activity details
| Client type | Clients | Regulatory AUM | AUM share | Avg. per client |
|---|---|---|---|---|
| Pooled investment vehicles | 12 | $2.74B | 100.0% | $228M |
| Total | 12 | $2.74B | 100% | $228M |
- Clients
- 12
- Regulatory AUM
- $2.74B
- AUM share
- 100.0%
- Avg. per client
- $228M
Total
- Clients
- 12
- Regulatory AUM
- $2.74B
- AUM share
- 100%
- Avg. per client
- $228M
- Clients outside the U.S.
- 17%
- Clients advised without assets under management last fiscal year
- 0
- Private funds advised
- 12
DW Management Services is paid through a percentage of assets under management, performance-based fees and other compensation; its fees and minimums are set out in its brochures on the SEC website.
JB Capital, LLC owns 25% to 50% of DW Management Services and is in turn owned by The John B. Benear, II Trust U/A/D 8/28/02 (75% or more). The leadership team of DW Management Services includes Chief Financial Officer Richard Wilhelm and Chief Compliance Officer John Benear. It has 34 employees, 29 of them in advisory roles.
Leadership
- Richard WilhelmChief Financial Officer
- John BenearManaging Director, Chief Compliance Officer; Managing Member
- Andrew CarragherManaging Partner; Managing Member
- Aly ChampsiManaging Director; Managing Member
- Lance RuudManaging Director; Managing Member
- Douglas SchillingerManaging Director; Managing Member
- Kimberly RuudTrustee of Lance C. Ruud and Kimberly F. Ruud Family Trust Dated December 23, 1999
Staff
- 34 employees
- 29 in advisory functions
- Owns 25% to 50% of DW Management Services, L.L.C.
JB Capital, LLC
since January 2003
- Owns 75% or more of JB Capital, LLC
The John B. Benear, II Trust U/A/D 8/28/02
Control person · since August 2002
John Benear
Trustee · Control person · since August 2002
- Owns 25% to 50% of DW Management Services, L.L.C.
Andrew Carragher
Control person · since January 2003
- Owns 10% to 25% of DW Management Services, L.L.C.
Lance C. Ruud and Kimberly F. Ruud Family Trust Dated December 23,1999
since November 2006
- Owns 10% to 25% of DW Management Services, L.L.C.
Lance Ruud
Control person · since December 1999
- Owns 10% to 25% of DW Management Services, L.L.C.
Douglas Schillinger
Control person · since November 2006
- Owns 10% to 25% of DW Management Services, L.L.C.
Aly Champsi
Control person · since January 2020
- Owns 10% to 25% of DW Management Services, L.L.C.
Kimberly Ruud
since December 1999
DW Management Services’ regulatory assets grew 2.1× from $1.3B (May 2021) to $2.74B (May 2026); clients were 12 in both filings and employees rose from 28 to 34.
Figures from each annual filing
| Filed | Regulatory AUM | Clients | Employees | Offices |
|---|---|---|---|---|
| May 2026 | $2.74B | 12 | 34 | 2 |
| May 2025 | $1.88B | 12 | 38 | 2 |
| May 2024 | $1.54B | 11 | 38 | 2 |
| May 2023 | $1.31B | 12 | 36 | 2 |
| May 2022 | $1.28B | 13 | 29 | 2 |
| May 2021 | $1.3B | 12 | 28 | 2 |
Besides its headquarters, DW Management Services has 1 office, with 2 listed addresses in the U.S. and abroad.
Utah · 1 listed address
- 1413 Center Drive, Ste. 220, Park CityHQ
International offices
- 1 TORONTO STREET, TORONTO, M5C 2V6, Canada
Contact and registration details
- Legal name
- DW Management Services, L.L.C.
- Headquarters
- 1413 Center Drive, Ste. 220, Park City, UT 84098-7401
- Website
- dwhp.com
- Phone
- 435-645-4050
- @dw-healthcare-partners
- SEC file
- 801-73231
- Structure
- Delaware LLC
- Fiscal year end
- December
DW Management Services has custody of client assets.
How many clients does DW Management Services have?
DW Management Services has 12 clients and manages $2.74 billion for them, as of May 2026. They include 12 pooled investment vehicles.
Source: Form ADV Part 1A, Items 5.D and 5.F, filed 11 May 2026
What services does DW Management Services offer?
DW Management Services provides portfolio management for pooled vehicles.
Source: Form ADV Part 1A, Item 5.G, from the SEC's 2 October 2026 data file
How many financial advisors does DW Management Services have?
DW Management Services has 0 investment adviser representatives registered with state securities authorities, out of 34 employees, and 29 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
Who owns DW Management Services?
DW Management Services’ direct owners are Lance C. Ruud and Kimberly F. Ruud Family Trust Dated December 23,1999, JB Capital, LLC, Andrew Carragher, Lance Ruud, Douglas Schillinger, Aly Champsi, and Kimberly Ruud, each holding 50% or less.
Source: Form ADV Part 1A, Schedules A and B, filed 11 May 2026
How does DW Management Services get paid?
DW Management Services is paid through a percentage of assets under management, performance-based fees and other compensation. 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
How do I contact DW Management Services?
DW Management Services’ main office is at 1413 Center Drive, Ste. 220, Park City, UT 84098-7401. Its phone number is 435-645-4050. Its website is dwhp.com.