Graves Light Lenhart Wealth provides financial planning, portfolio management for individuals and small businesses, portfolio management for institutions, pension consulting, publishing newsletters, estate planning, insurance, philanthropic planning, and tax planning. Financial planning was provided to 101–250 clients last fiscal year.
Graves Light Lenhart Wealth reports 438 clients. They include 248 high-net-worth individuals, 155 individual clients and 16 charitable organizations. Of its assets, 95.5% ($1.18B across 1,184 accounts) are managed with discretion; $56M across 110 accounts are not.
| Client type | Clients | Assets |
|---|---|---|
| Individuals (other than HNW) | 35% | 4% |
| High-net-worth individuals | 57% | 79% |
| Pension and profit-sharing plans | 3% | 4% |
| Charitable organizations | 4% | 10% |
| Corporations and other businesses | 2% | 3% |
Client breakdown and activity details
| Client type | Clients | Regulatory AUM | AUM share | Avg. per client |
|---|---|---|---|---|
| Individuals (other than HNW) | 155 | $53.5M | 4.3% | $345K |
| High-net-worth individuals | 248 | $978M | 79.3% | $3.94M |
| Pension and profit-sharing plans | 11 | $49.6M | 4.0% | $4.51M |
| Charitable organizations | 16 | $119M | 9.6% | $7.44M |
| Corporations and other businesses | 8 | $33.9M | 2.7% | $4.24M |
| Total | 438 | $1.23B | 100% | $2.82M |
- Clients
- 155
- Regulatory AUM
- $53.5M
- AUM share
- 4.3%
- Avg. per client
- $345K
- Clients
- 248
- Regulatory AUM
- $978M
- AUM share
- 79.3%
- Avg. per client
- $3.94M
- Clients
- 11
- Regulatory AUM
- $49.6M
- AUM share
- 4.0%
- Avg. per client
- $4.51M
- Clients
- 16
- Regulatory AUM
- $119M
- AUM share
- 9.6%
- Avg. per client
- $7.44M
- Clients
- 8
- Regulatory AUM
- $33.9M
- AUM share
- 2.7%
- Avg. per client
- $4.24M
Total
- Clients
- 438
- Regulatory AUM
- $1.23B
- AUM share
- 100%
- Avg. per client
- $2.82M
- Clients outside the U.S.
- 0%
- Clients advised without assets under management last fiscal year
- 0
- Private funds advised
- 0
- Financial planning clients last fiscal year
- 101–250
Graves Light Lenhart Wealth charges 0.35%–0.90% a year for its Wealth Management Fees. Each asset band is charged at its own rate. The fee is billed in advance, is negotiable and requires an account of at least $2,500,000.
| Asset band | Annual rate |
|---|---|
| $0–$1M | 0.90% |
| $1M–$2.5M | 0.75% |
| $2.5M–$12.5M | 0.50% |
| $12.5M and above | 0.35% |
Fee details and sources
Asa Graves owns 75% or more of Graves Light Lenhart Wealth. The leadership team of Graves Light Lenhart Wealth includes President Asa Graves and Chief Compliance Officer Jeffrey Lenhart. It has 11 employees, 8 of them in advisory roles.
Leadership
- Asa GravesPresident
- John LightVice President
- Jeffrey LenhartChief Compliance Officer,secretary and Treasurer
- Ashley HeatwoleDirector
- Nicholas PerrineDirector
Investment adviser representatives
8 representatives listed in the SEC register as of 9 October 2026.
- Jason Douglas Fink
- Asa Wesley Graves VI
- Asa Wesley Graves VII
- Ashley Philip Heatwole
- Jeffrey Grant Lenhart
- John Douglas Light
- Nicholas Andrew Perrine
- Ryan Petersen Waid
Staff
- 11 employees
- 8 in advisory functions
- 8 state-registered reps
- 2 insurance agents
- Owns 75% or more of Graves Light Lenhart Wealth, Inc.
Asa Graves
Control person · since August 2018
- Owns 10% to 25% of Graves Light Lenhart Wealth, Inc.
John Light
Control person · since August 2018
- Owns 5% to 10% of Graves Light Lenhart Wealth, Inc.
Jeffrey Lenhart
Control person · since August 2018
Graves Light Lenhart Wealth’s regulatory assets grew 1.5× from $823M (February 2021) to $1.23B (March 2026); clients rose from 320 to 438 and employees from 9 to 11.
Figures from each annual filing
| Filed | Regulatory AUM | Clients | Employees | Offices |
|---|---|---|---|---|
| March 2026 | $1.23B | 438 | 11 | 2 |
| March 2025 | $1.08B | 408 | 10 | 2 |
| March 2024 | $1.09B | 384 | 10 | 2 |
| March 2023 | $934M | 355 | 9 | 1 |
| March 2022 | $1.03B | 369 | 9 | 1 |
| February 2021 | $823M | 320 | 9 | 1 |
Besides its headquarters, Graves Light Lenhart Wealth has 1 office (1 private residence, listed without an address), with 1 listed address in Virginia.
Virginia · 1 listed address
- 100 South Mason Street, Suite C, HarrisonburgHQ
Other business names
Graves Light Lenhart Wealth has reported 1 other business name to the SEC.
- Graves Light Lenhart
Contact and registration details
- Legal name
- Graves Light Lenhart Wealth, Inc.
- Headquarters
- 100 South Mason Street, Suite C, Harrisonburg, VA 22801
- Website
- gllwealth.com
- Phone
- 540-433-3076
- SEC file
- 801-113908
- Structure
- Virginia corporation
- Fiscal year end
- December
Graves Light Lenhart Wealth uses Charles Schwab ($1.17B) as custodian for its separately managed accounts. Graves Light Lenhart Wealth has custody of $767M in client assets for 252 clients.
- Charles SchwabCharles Schwab & Co., Inc. · Westlake, TX · $1.17B100%
At year end, Graves Light Lenhart Wealth’s separately managed accounts were mostly in funds (73%) and stocks (19%). Its reported 13F holdings for the quarter ended 30 June 2026 total $1.07B across 203 positions; the largest are iShares TR (10.2%), iShares TR (9.1%) and Dimensional ETF Trust (5.4%).
What the accounts hold
- Stocks19%
- Funds73%
- Bonds2%
- Cash6%
Reported 13F holdings
- $1.07B
- Reported 13F value
- 203
- Positions
- 46.9%
- In the 10 largest
- +11.5%
- Value vs. prior quarter
- iShares TR · Core US Aggbd ET10.2%
- iShares TR · Core MSCI Eafe9.1%
- Dimensional ETF Trust · Core Fixe IN ETF5.4%
- iShares TR · Core S&P Scp ETF4.3%
- iShares TR · Core S&P Mcp ETF3.8%
- Berkshire Hathaway Inc. Del · CL B New3.4%
- Apple Inc.2.9%
- Vanguard Whitehall Fds · High Div Yld2.7%
- SPDR Series Trust · ST Str SP Div2.6%
- Vanguard Specialized Funds · Div App ETF2.5%
Together, the ten largest are 46.9% of reported value.
How many clients does Graves Light Lenhart Wealth have?
Graves Light Lenhart Wealth has 438 clients and manages $1.23 billion for them, as of March 2026. They include 248 high-net-worth individuals, 155 individual clients and 16 charitable organizations.
Source: Form ADV Part 1A, Items 5.D and 5.F, filed 30 March 2026
What services does Graves Light Lenhart Wealth offer?
Graves Light Lenhart Wealth provides financial planning, portfolio management for individuals and small businesses, portfolio management for institutions, pension consulting, publishing newsletters, estate planning, insurance, philanthropic planning, and tax planning.
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 Graves Light Lenhart Wealth charge?
Graves Light Lenhart Wealth charges 0.35%–0.90% a year for its Wealth Management Fees. Each asset band is charged at its own rate. The fee is billed in advance, is negotiable and requires an account of at least $2,500,000.
Which custodians does Graves Light Lenhart Wealth use?
Graves Light Lenhart Wealth’s separately managed account assets are held at Charles Schwab & Co., Inc. (Westlake, TX), with $1.17B. Only custodians holding at least a tenth of those assets are named.
Source: Form ADV Part 1A, Schedule D, Section 5.K.(3), filed 30 March 2026
How many financial advisors does Graves Light Lenhart Wealth have?
Graves Light Lenhart Wealth has 8 investment adviser representatives registered with state securities authorities, out of 11 employees, and 8 perform investment advisory functions. 0 employees are registered representatives of a broker-dealer and 2 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 Graves Light Lenhart Wealth invest in?
At the end of its last fiscal year, Graves Light Lenhart Wealth’s separately managed accounts held 73% registered funds (mutual funds, ETFs, BDCs), 19% exchange-traded equities, 6% cash and equivalents and 2% 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 Graves Light Lenhart Wealth have a minimum investment?
Yes, Graves Light Lenhart Wealth’s minimum account size for its Wealth Management Fees is $2.5M.
Who owns Graves Light Lenhart Wealth?
Graves Light Lenhart Wealth’s direct owners are Asa Graves (75% or more), John Light (10% to 25%) and Jeffrey Lenhart (5% to 10%).
Source: Form ADV Part 1A, Schedules A and B, filed 30 March 2026
How does Graves Light Lenhart Wealth get paid?
Graves Light Lenhart Wealth is paid through a percentage of assets under management. 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
Is Graves Light Lenhart Wealth registered with the SEC?
Yes, Graves Light Lenhart Wealth has been registered with the SEC as an investment adviser since 24 August 2018. Its CRD number is 298283 and its SEC file number is 801-113908.
Source: Form ADV Part 1A, Item 1, filed 30 March 2026; IAPD firm record
How do I contact Graves Light Lenhart Wealth?
Graves Light Lenhart Wealth’s main office is at 100 South Mason Street, Suite C, Harrisonburg, VA 22801. Its phone number is 540-433-3076. Its website is gllwealth.com.