DWR Wealth Management 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.
DWR Wealth Management reports 189 clients. They include 89 individual clients, 82 high-net-worth individuals, and 18 pension and profit-sharing plans. Of its assets, 99.2% ($219M across 632 accounts) are managed with discretion; $1.74M across 15 accounts are not. It advised 9 clients without assets under management last fiscal year.
| Client type | Clients | Assets |
|---|---|---|
| Individuals (other than HNW) | 47% | 11% |
| High-net-worth individuals | 43% | 80% |
| Pension and profit-sharing plans | 10% | 9% |
| Charitable organizations | Fewer than 5 | 1% |
| Corporations and other businesses | Fewer than 5 | <1% |
Client shares use reported counts. Client types without a reported count are excluded from that total.
Client breakdown and activity details
| Client type | Clients | Regulatory AUM | AUM share | Avg. per client |
|---|---|---|---|---|
| Individuals (other than HNW) | 89 | $23.4M | 10.6% | $262K |
| High-net-worth individuals | 82 | $176M | 79.7% | $2.15M |
| Pension and profit-sharing plans | 18 | $19M | 8.6% | $1.06M |
| Charitable organizations | Fewer than 5 | $2.3M | 1.0% | — |
| Corporations and other businesses | Fewer than 5 | $270K | 0.1% | — |
| Total | 189 | $221M | 100% | — |
- Clients
- 89
- Regulatory AUM
- $23.4M
- AUM share
- 10.6%
- Avg. per client
- $262K
- Clients
- 82
- Regulatory AUM
- $176M
- AUM share
- 79.7%
- Avg. per client
- $2.15M
- Clients
- 18
- Regulatory AUM
- $19M
- AUM share
- 8.6%
- Avg. per client
- $1.06M
- Clients
- Fewer than 5
- Regulatory AUM
- $2.3M
- AUM share
- 1.0%
- Avg. per client
- —
- Clients
- Fewer than 5
- Regulatory AUM
- $270K
- AUM share
- 0.1%
- Avg. per client
- —
Total
- Clients
- 189
- Regulatory AUM
- $221M
- AUM share
- 100%
- Avg. per client
- —
- Clients outside the U.S.
- 0%
- Clients advised without assets under management last fiscal year
- 9
- Private funds advised
- 0
- Financial planning clients last fiscal year
- 1–10
DWR Wealth Management charges 0.40%–1.00% a year for its Standard investment management fee schedule. Each asset band is charged at its own rate. The fee is billed in arrears, is negotiable and requires an account of at least $250,000. The brochure also prices one other service, listed under fee details.
| Asset band | Annual rate |
|---|---|
| $0–$500K | 1.00% |
| $500K–$1M | 0.80% |
| $1M–$2M | 0.60% |
| $2M–$5M | 0.50% |
| $5M and above | 0.40% |
Fee details and sources
Other fees
- Financial planning and consulting
- Planning and consulting are billed hourly at $300 per hour with an 8 hour minimum, subject to negotiation, or as a one-time flat fee of $2,400 to $6,000.
Ricky Dunham owns 75% or more of DWR Wealth Management. The leadership team of DWR Wealth Management includes Chief Compliance Officer Tracy Newquist. It has 3 employees.
Leadership
Tracy NewquistMember, Chief Compliance Officer
Ricky DunhamMember- David RousselotMember
Investment adviser representatives
3 representatives listed in the SEC register as of 9 October 2026.
Staff
- 3 employees
- 3 in advisory functions
- 3 state-registered reps
- Owns 75% or more of DWR Wealth Management, LLC
Ricky Dunham
Control person · since January 2005
- Owns 10% to 25% of DWR Wealth Management, LLC
David Rousselot
Control person · since January 2005
- Owns 10% to 25% of DWR Wealth Management, LLC
Tracy Newquist
Control person · since May 2021
DWR Wealth Management’s regulatory assets grew 1.6× from $137M (April 2022) to $221M (July 2026); clients rose from 136 to 189 and employees were 3 in both filings.
Figures from each annual filing
| Filed | Regulatory AUM | Clients | Employees | Offices |
|---|---|---|---|---|
| July 2026 | $221M | 189 | 3 | 1 |
| March 2025 | $180M | 184 | 4 | 1 |
| March 2024 | $166M | 191 | 4 | 1 |
| March 2023 | $133M | 151 | 3 | 1 |
| April 2022 | $137M | 136 | 3 | 1 |
Besides its headquarters, DWR Wealth Management has 0 offices, with 1 listed address in California.
California · 1 listed address
- 1884 the Alameda, San JoseHQ
Contact and registration details
- Legal name
- DWR Wealth Management, LLC
- Headquarters
- 1884 the Alameda, San Jose, CA 95126
- Website
- dwrwealth.com
- Phone
- 408-260-9600
- @dwr-wealth-management-llc
- SEC file
- 801-122140
- Structure
- California LLC
- Fiscal year end
- December
DWR Wealth Management uses Fidelity ($203M) as custodian for its separately managed accounts. DWR Wealth Management has custody of $54.8M in client assets for 67 clients.
- FidelityFidelity Brokerage Services LLC · Smithfield, RI · $203M100%
At year end, DWR Wealth Management’s separately managed accounts were mostly in funds (77%) and stocks (14%). Its reported 13F holdings for the quarter ended 30 June 2026 total $134M across 56 positions; the largest are iShares TR (12.9%), Dimensional ETF Trust (11.0%) and Dimensional ETF Trust (9.9%).
What the accounts hold
- Stocks14%
- Funds77%
- Bonds1%
- Cash8%
Reported 13F holdings
- $134M
- Reported 13F value
- 56
- Positions
- 69.1%
- In the 10 largest
- +16.2%
- Value vs. prior quarter
- iShares TR · Core S&P500 ETF12.9%
- Dimensional ETF Trust · Intl Core EQT MK11.0%
- Dimensional ETF Trust · US High Prof ETF9.9%
- Vanguard Tax-managed Fds · Van FTSE Dev Mkt7.1%
- Dimensional ETF Trust · Emgr Cre EQT Mng6.6%
- Apple Inc.5.8%
- Dimensional ETF Trust · US Equi Mark ETF5.6%
- Dimensional ETF Trust · US Small Cap ETF3.7%
- Dimensional ETF Trust · World EX US Core3.3%
- Vanguard Index Fds · Real Estate ETF3.2%
Together, the ten largest are 69.1% of reported value.
How many clients does DWR Wealth Management have?
DWR Wealth Management has 189 clients and manages $221 million for them, as of July 2026. They include 89 individual clients, 82 high-net-worth individuals, and 18 pension and profit-sharing plans.
Source: Form ADV Part 1A, Items 5.D and 5.F, filed 8 July 2026
What services does DWR Wealth Management offer?
DWR Wealth Management 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 DWR Wealth Management charge?
DWR Wealth Management charges 0.40%–1.00% a year for its Standard investment management fee schedule. Each asset band is charged at its own rate. The fee is billed in arrears, is negotiable and requires an account of at least $250,000.
Source: 2026-07-08 DWR WEALTH MANAGEMENT FORM ADV PART 2A, filed 8 July 2026
Which custodians does DWR Wealth Management use?
DWR Wealth Management’s separately managed account assets are held at Fidelity Brokerage Services LLC (Smithfield, RI), with $203M. Only custodians holding at least a tenth of those assets are named.
Source: Form ADV Part 1A, Schedule D, Section 5.K.(3), filed 8 July 2026
How many financial advisors does DWR Wealth Management have?
DWR Wealth Management has 3 investment adviser representatives registered with state securities authorities, out of 3 employees, and 3 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
What does DWR Wealth Management invest in?
At the end of its last fiscal year, DWR Wealth Management’s separately managed accounts held 77% registered funds (mutual funds, ETFs, BDCs), 14% exchange-traded equities, 8% cash and equivalents and 1% U.S. government and agency bonds.
Source: Form ADV Part 1A, Items 5.K.(1) and 7.B, from the SEC's 2 October 2026 data file
Does DWR Wealth Management have a minimum investment?
Yes, DWR Wealth Management’s minimum account size for its Standard investment management fee schedule is $250K.
Source: 2026-07-08 DWR WEALTH MANAGEMENT FORM ADV PART 2A, filed 8 July 2026
Who owns DWR Wealth Management?
DWR Wealth Management’s direct owners are David Rousselot (10% to 25%), Ricky Dunham (75% or more) and Tracy Newquist (10% to 25%).
Source: Form ADV Part 1A, Schedules A and B, filed 8 July 2026
How does DWR Wealth Management get paid?
DWR 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 DWR Wealth Management?
DWR Wealth Management’s main office is at 1884 the Alameda, San Jose, CA 95126. Its phone number is 408-260-9600. Its website is dwrwealth.com.