Formidable Asset Management provides financial planning, portfolio management for individuals and small businesses, portfolio management for investment companies, portfolio management for pooled vehicles, pension consulting, education planning, estate planning, and insurance. Financial planning was provided to 1–10 clients last fiscal year. The firm advises 1 private fund.
Formidable Asset Management reports 900 clients. They include 674 individual clients, 203 high-net-worth individuals, and 10 corporations and other businesses. Of its assets, 99.9% ($902M across 2,187 accounts) are managed with discretion; $731K across 9 accounts are not.
| Client type | Clients | Assets |
|---|---|---|
| Individuals (other than HNW) | 75% | 26% |
| High-net-worth individuals | 23% | 69% |
| Investment companies | <1% | 4% |
| Pooled investment vehicles | <1% | <1% |
| Pension and profit-sharing plans | <1% | <1% |
| Other client typesCharitable organizations; Corporations and other businesses | 2% | <1% |
Client breakdown and activity details
| Client type | Clients | Regulatory AUM | AUM share | Avg. per client |
|---|---|---|---|---|
| Individuals (other than HNW) | 674 | $230M | 25.5% | $342K |
| High-net-worth individuals | 203 | $626M | 69.3% | $3.08M |
| Investment companies | 2 | $39.8M | 4.4% | $19.9M |
| Pooled investment vehicles | 1 | $1.79M | 0.2% | $1.79M |
| Pension and profit-sharing plans | 5 | $986K | 0.1% | $197K |
| Charitable organizations | 5 | $1.81M | 0.2% | $363K |
| Corporations and other businesses | 10 | $2.14M | 0.2% | $214K |
| Total | 900 | $903M | 100% | $1M |
- Clients
- 674
- Regulatory AUM
- $230M
- AUM share
- 25.5%
- Avg. per client
- $342K
- Clients
- 203
- Regulatory AUM
- $626M
- AUM share
- 69.3%
- Avg. per client
- $3.08M
- Clients
- 2
- Regulatory AUM
- $39.8M
- AUM share
- 4.4%
- Avg. per client
- $19.9M
- Clients
- 1
- Regulatory AUM
- $1.79M
- AUM share
- 0.2%
- Avg. per client
- $1.79M
- Clients
- 5
- Regulatory AUM
- $986K
- AUM share
- 0.1%
- Avg. per client
- $197K
- Clients
- 5
- Regulatory AUM
- $1.81M
- AUM share
- 0.2%
- Avg. per client
- $363K
- Clients
- 10
- Regulatory AUM
- $2.14M
- AUM share
- 0.2%
- Avg. per client
- $214K
Total
- Clients
- 900
- Regulatory AUM
- $903M
- AUM share
- 100%
- Avg. per client
- $1M
- Clients outside the U.S.
- 0%
- Clients advised without assets under management last fiscal year
- 0
- Private funds advised
- 1
- Financial planning clients last fiscal year
- 1–10
Formidable Asset Management charges 0.50%–2.00% a year for its Portfolio Management Services. The fee is billed in advance. The brochure also prices one other service, listed under fee details.
Fee details and sources
Other fees
- Financial Planning and Consulting
- Financial planning and consulting are typically billed at an hourly fee of $250, negotiable, with an estimate given at the start.
William Brown owns 50% to 75% of Formidable Asset Management. William Brown is CEO. It has 21 employees, 14 of them in advisory roles.
Leadership
William BrownManaging Member/Chief Executive Officer- Jason WainscottCCO, COO and General Counsel
Investment adviser representatives
13 representatives listed in the SEC register as of 9 October 2026.
Staff
- 21 employees
- 14 in advisory functions
- 14 state-registered reps
- 11 insurance agents
- Owns 50% to 75% of Formidable Asset Management, LLC
William Brown
Control person · since March 2013
Formidable Asset Management’s regulatory assets grew from $619M (March 2021) to $903M (August 2026); clients rose from 751 to 900 and employees from 15 to 21. In 2024, BRM Investment Management ($133M in its last filing) joined it.
Figures from each annual filing
| Filed | Regulatory AUM | Clients | Employees | Offices |
|---|---|---|---|---|
| August 2026 | $903M | 900 | 21 | 4 |
| March 2025 | $876M | 871 | 20 | 4 |
| March 2024 | $887M | 979 | 20 | 3 |
| July 2023 | $632M | 803 | 15 | 3 |
| March 2022 | $707M | 784 | 15 | 3 |
| March 2021 | $619M | 751 | 15 | 3 |
Firms that joined
20241 joined
- BRM Investment ManagementLast filed AUM $133M
Firms whose SEC withdrawal reports a sale to this firm, and deals reported in the press. Teams that moved without selling a registered firm may not appear.
Besides its headquarters, Formidable Asset Management has 3 offices (1 private residence, listed without an address), with 3 listed addresses in Florida, Ohio and Tennessee.
Florida · 1 listed address
- 607 17th St, Vero Beach
Ohio · 1 listed address
- 221 E. 4th Street, Suite 2700, CincinnatiHQ
Tennessee · 1 listed address
- 5865 Ridgeway Center Pkwy, Memphis
Other business names
Formidable Asset Management has reported 2 other business names to the SEC.
- Formidable Financial Services, LLC
- Massey Romans Capital
Contact and registration details
- Legal name
- Formidable Asset Management, LLC
- Headquarters
- 221 E. 4th Street, Suite 2700, Cincinnati, OH 45202
- Website
- formidableam.com
- Phone
- 513-655-5566
- @formidable-asset-management
- SEC file
- 801-77975
- Founded
- 2013
- Structure
- Ohio LLC
- Fiscal year end
- December
Formidable Asset Management uses Raymond James ($442M, 52%), LPL Financial ($218M, 26%) and Charles Schwab ($119M, 14%), among others, as custodians for its separately managed accounts. Formidable Asset Management has custody of client assets.
- Raymond JamesRaymond James & Associates, Inc. · St. Petersburg, FL · $442M52%
- Charles SchwabCharles Schwab & Co., Inc. · Omaha, NE · $119M14%
- LPL FinancialLPL Financial LLC · Fort Mill, SC · $218M26%
- SEI Investments DistributionSEI Investments Distribution Co. · Oaks, PA · $68.2M8%
At year end, Formidable Asset Management’s separately managed accounts were mostly in stocks (61%) and funds (29%). Its reported 13F holdings for the quarter ended 30 June 2026 total $629M across 387 positions; the largest are Apple Inc. (7.2%), Procter & Gamble CO (5.8%) and Nvidia Corporation (3.9%).
What the accounts hold
- Stocks61%
- Exchange-traded equities60%
- Non-exchange-traded equities1%
- Funds29%
- Registered funds25%
- Pooled vehicles4%
- Bonds4%
- U.S. government and agency bonds2%
- State and local bonds1%
- Investment grade corporate bonds1%
- Cash6%
Reported 13F holdings
- $629M
- Reported 13F value
- 387
- Positions
- 32.8%
- In the 10 largest
- −2.9%
- Value vs. prior quarter
- Apple Inc.7.2%
- Procter & Gamble CO5.8%
- Nvidia Corporation3.9%
- ETF Opportunities Trust · Formi Fortr ETF3.0%
- ETF Opportunities Trust · Formidable ETF2.8%
- Microsoft Corp.2.8%
- Meta Platforms Inc. · CL A2.3%
- Alphabet Inc. · Cap Stk CL C1.9%
- Eli Lilly & CO1.7%
- Amazon Com Inc.1.4%
Together, the ten largest are 32.8% of reported value.
How many clients does Formidable Asset Management have?
Formidable Asset Management has 900 clients and manages $903 million for them, as of August 2026. They include 674 individual clients, 203 high-net-worth individuals, and 10 corporations and other businesses.
Source: Form ADV Part 1A, Items 5.D and 5.F, filed 14 August 2026
What services does Formidable Asset Management offer?
Formidable Asset Management provides financial planning, portfolio management for individuals and small businesses, portfolio management for investment companies, portfolio management for pooled vehicles, pension consulting, education planning, estate planning, and insurance.
Source: Form ADV Part 1A, Item 5.G, from the SEC's 2 October 2026 data file; Part 2A brochure, Item 4
How much does Formidable Asset Management charge?
Formidable Asset Management charges 0.50%–2.00% a year for its Portfolio Management Services. The fee is billed in advance.
Source: FORMIDABLE ASSET MANAGEMENT ADV 2A, filed 31 March 2026
Which custodians does Formidable Asset Management use?
Formidable Asset Management’s separately managed account assets are held at Raymond James & Associates, Inc. (St. Petersburg, FL), with $442M, LPL Financial LLC (Fort Mill, SC), with $218M, Charles Schwab & Co., Inc. (Omaha, NE), with $119M and SEI Investments Distribution Co. (Oaks, PA), with $68.2M. 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 August 2026
How many financial advisors does Formidable Asset Management have?
Formidable Asset Management has 14 investment adviser representatives registered with state securities authorities, out of 21 employees, and 14 perform investment advisory functions. 0 employees are registered representatives of a broker-dealer and 11 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 Formidable Asset Management invest in?
At the end of its last fiscal year, Formidable Asset Management’s separately managed accounts held 60% exchange-traded equities, 25% registered funds (mutual funds, ETFs, BDCs), 6% cash and equivalents, 4% pooled vehicles (private funds and similar), 2% U.S. government and agency bonds, 1% non-exchange-traded equities, 1% state and local bonds and 1% investment grade corporate bonds. It advises 1 private fund.
Source: Form ADV Part 1A, Items 5.K.(1) and 7.B, from the SEC's 2 October 2026 data file
Who owns Formidable Asset Management?
Formidable Asset Management’s direct owner is William Brown (50% to 75%).
Source: Form ADV Part 1A, Schedules A and B, filed 14 August 2026
How does Formidable Asset Management get paid?
Formidable Asset Management is paid through a percentage of assets under management 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
How do I contact Formidable Asset Management?
Formidable Asset Management’s main office is at 221 E. 4th Street, Suite 2700, Cincinnati, OH 45202. Its phone number is 513-655-5566. Its website is formidableam.com.