Elmwood Wealth Management provides financial planning, portfolio management for individuals and small businesses, selecting other managers, education planning, estate planning, insurance, tax planning, and tax preparation. Financial planning was provided to 51–100 clients last fiscal year.
Elmwood Wealth Management reports 210 clients. They include 127 high-net-worth individuals, 77 individual clients and 4 other clients. Of its assets, 97.3% ($465M across 645 accounts) are managed with discretion; $12.7M across 31 accounts are not. Of its clients, 1% are outside the U.S. It advised 1 client without assets under management last fiscal year.
| Client type | Clients | Assets |
|---|---|---|
| Individuals (other than HNW) | 37% | 6% |
| High-net-worth individuals | 60% | 91% |
| Banking or thrift institutions | <1% | <1% |
| Other | 2% | 3% |
Client breakdown and activity details
| Client type | Clients | Regulatory AUM | AUM share | Avg. per client |
|---|---|---|---|---|
| Individuals (other than HNW) | 77 | $29.2M | 6.1% | $379K |
| High-net-worth individuals | 127 | $433M | 90.5% | $3.41M |
| Banking or thrift institutions | Fewer than 5 | $3.4M | 0.7% | $1.7M |
| Other | Fewer than 5 | $12.7M | 2.7% | $3.18M |
| Total | 210 | $478M | 100% | — |
- Clients
- 77
- Regulatory AUM
- $29.2M
- AUM share
- 6.1%
- Avg. per client
- $379K
- Clients
- 127
- Regulatory AUM
- $433M
- AUM share
- 90.5%
- Avg. per client
- $3.41M
- Clients
- Fewer than 5
- Regulatory AUM
- $3.4M
- AUM share
- 0.7%
- Avg. per client
- $1.7M
- Clients
- Fewer than 5
- Regulatory AUM
- $12.7M
- AUM share
- 2.7%
- Avg. per client
- $3.18M
Total
- Clients
- 210
- Regulatory AUM
- $478M
- AUM share
- 100%
- Avg. per client
- —
- Clients outside the U.S.
- 1%
- Clients advised without assets under management last fiscal year
- 1
- Private funds advised
- 0
- Financial planning clients last fiscal year
- 51–100
Elmwood Wealth Management 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 4 other services, listed under fee details.
Fee details and sources
Other fees
- Core Service Offering
- Year 1 rates of 0.75% up to $2 million, 0.60% to $5 million and 0.40% above $5 million; $7,500 minimum annual fee; $750,000 minimum account. Hourly charges apply after year 1.
- Financial Planning, Advisor Meetings and Ongoing Advice
- Hourly rates of $225 for advisor time and $95 for staff time.
- Fixed Income Offering
- Fee of 0.50% a year with a $2,500 minimum annual fee and a $500,000 minimum account; no financial planning included.
- Full-Service Offering
- Annual fee of 1.00% up to $2 million, 0.80% from $2,000,001 to $5 million, 0.50% from $5,000,001 to $10 million, negotiable above $10 million; $10,000 minimum annual fee; $1 million minimum account.
Robert Gillooly owns 50% to 75% of Elmwood Wealth Management. It has 6 employees, 4 of them in advisory roles.
Leadership
- Shannon LemonCOO/CCO
Investment adviser representatives
4 representatives listed in the SEC register as of 9 October 2026.
Staff
- 6 employees
- 4 in advisory functions
- 4 state-registered reps
- Owns 50% to 75% of Elmwood Wealth Management, Inc.
Robert Gillooly
Control person · since September 2012
- Owns 50% to 75% of Elmwood Wealth Management, Inc.
Shannon Lemon
Control person · since September 2012
Elmwood Wealth Management’s regulatory assets grew 2.4× from $197M (March 2021) to $478M (May 2026); clients rose from 147 to 210 and employees from 3 to 6.
Figures from each annual filing
| Filed | Regulatory AUM | Clients | Employees | Offices |
|---|---|---|---|---|
| May 2026 | $478M | 210 | 6 | 1 |
| March 2025 | $333M | 163 | 4 | 1 |
| March 2024 | $277M | 167 | 5 | 1 |
| July 2023 | $241M | 157 | 4 | 1 |
| June 2022 | $266M | 156 | 3 | 1 |
| March 2021 | $197M | 147 | 3 | 1 |
Besides its headquarters, Elmwood Wealth Management has 0 offices, with 1 listed address in California.
California · 1 listed address
- 2027 Fourth Street, Suite 203, BerkeleyHQ
Contact and registration details
- Legal name
- Elmwood Wealth Management, Inc.
- Headquarters
- 2027 Fourth Street, Suite 203, Berkeley, CA 94710-1912
- Website
- elmwoodwealth.com
- Phone
- 510-858-2722
- @elmwood-wealth-management-inc-
- SEC file
- 801-110782
- Founded
- 2012
- Structure
- Delaware corporation
- Fiscal year end
- December
Elmwood Wealth Management uses Charles Schwab ($453M) as custodian for its separately managed accounts. Elmwood Wealth Management does not have custody of client assets.
- Charles SchwabCharles Schwab & Co., Inc. · Westlake, TX · $453M100%
At year end, Elmwood Wealth Management’s separately managed accounts were mostly in stocks (69%) and bonds (26%). Its reported 13F holdings for the quarter ended 30 June 2026 total $400M across 200 positions; the largest are Blackrock ETF Trust II (2.9%), Innovator ETFS Trust (2.9%) and Vanguard Tax-managed Fds (2.8%).
What the accounts hold
- Stocks69%
- Funds3%
- Bonds26%
- State and local bonds14%
- U.S. government and agency bonds8%
- Sovereign bonds3%
- Investment grade corporate bonds1%
- Cash2%
Reported 13F holdings
- $400M
- Reported 13F value
- 200
- Positions
- 25.0%
- In the 10 largest
- +10.6%
- Value vs. prior quarter
- Blackrock ETF Trust II · Isha SH Term ETF2.9%
- Innovator ETFS Trust · Innovator Deepw2.9%
- Vanguard Tax-managed Fds · Van FTSE Dev Mkt2.8%
- iShares TR · Trs Flt RT BD2.8%
- Apple Inc.2.7%
- J P Morgan Exchange Traded F · Ultra Shrt ETF2.5%
- First TR Exchange Traded FD · Rba Indl ETF2.3%
- Amplify ETF TR · Cwp Intl Enhance2.2%
- iShares Inc. · Core MSCI Emkt2.1%
- iShares TR · Shrt Nat Mun ETF1.9%
Together, the ten largest are 25.0% of reported value.
How many clients does Elmwood Wealth Management have?
Elmwood Wealth Management has 210 clients and manages $478 million for them, as of May 2026. They include 127 high-net-worth individuals, 77 individual clients and 4 other clients.
Source: Form ADV Part 1A, Items 5.D and 5.F, filed 14 May 2026
What services does Elmwood Wealth Management offer?
Elmwood Wealth Management provides financial planning, portfolio management for individuals and small businesses, selecting other managers, education planning, estate planning, insurance, tax planning, and tax preparation.
Source: Form ADV Part 1A, Item 5.G, from the SEC's 2 October 2026 data file; Part 2A brochure, Item 4
Which custodians does Elmwood Wealth Management use?
Elmwood Wealth Management’s separately managed account assets are held at Charles Schwab & Co., Inc. (Westlake, TX), with $453M. Only custodians holding at least a tenth of those assets are named.
Source: Form ADV Part 1A, Schedule D, Section 5.K.(3), filed 14 May 2026
How many financial advisors does Elmwood Wealth Management have?
Elmwood Wealth Management has 4 investment adviser representatives registered with state securities authorities, out of 6 employees, and 4 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 Elmwood Wealth Management invest in?
At the end of its last fiscal year, Elmwood Wealth Management’s separately managed accounts held 69% exchange-traded equities, 14% state and local bonds, 8% U.S. government and agency bonds, 3% sovereign bonds, 3% pooled vehicles (private funds and similar), 2% cash and equivalents and 1% investment grade corporate bonds.
Source: Form ADV Part 1A, Items 5.K.(1) and 7.B, from the SEC's 2 October 2026 data file
Who owns Elmwood Wealth Management?
Elmwood Wealth Management’s direct owners are Robert Gillooly (50% to 75%) and Shannon Lemon (50% to 75%).
Source: Form ADV Part 1A, Schedules A and B, filed 14 May 2026
How does Elmwood Wealth Management get paid?
Elmwood 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 Elmwood Wealth Management?
Elmwood Wealth Management’s main office is at 2027 Fourth Street, Suite 203, Berkeley, CA 94710-1912. Its phone number is 510-858-2722. Its website is elmwoodwealth.com.