{"url":"https://nivawealth.com/firms/madison-advisory-services-132386","iapdUrl":"https://adviserinfo.sec.gov/firm/summary/132386","regulatoryAum":509747075,"crd":"132386","adviserRoster":{"asOf":"2026-10-09","items":[{"crd":"5840008","suffix":null,"lastName":"Bermudez","firstName":"Gabriella","middleName":"Lynne"},{"crd":"7780644","suffix":null,"lastName":"Fadden","firstName":"Kenneth","middleName":"Christopher"},{"crd":"5581228","suffix":null,"lastName":"FROYEN","firstName":"TARA","middleName":"C"},{"crd":"8038923","suffix":null,"lastName":"Landicino","firstName":"Joseph","middleName":"Carl"},{"crd":"4796647","suffix":null,"lastName":"LUTON","firstName":"MICHAEL","middleName":"JAMES"},{"crd":"4450820","suffix":null,"lastName":"MCBETH","firstName":"DEAN","middleName":"ERIC"},{"crd":"8158066","suffix":null,"lastName":"Mifsud","firstName":"John","middleName":"Frederick"},{"crd":"1098028","suffix":null,"lastName":"ODESSER","firstName":"ROCHELLE","middleName":"BRAND"},{"crd":"5945500","suffix":null,"lastName":"SCHWARTZ","firstName":"ANDREW","middleName":"MICHAEL"},{"crd":"5947172","suffix":null,"lastName":"SCHWARTZ","firstName":"BENJAMIN","middleName":"DAVID"},{"crd":"2184551","suffix":null,"lastName":"SCHWARTZ","firstName":"GARY","middleName":"ROBERT"}],"total":11,"loadedAt":"2026-10-10T00:20:19.761928+00:00","sourceUrl":"https://reports.adviserinfo.sec.gov/reports/CompilationReports/IA_INDVL_Feed_10_09_2026.xml.zip"},"history":[{"filedOn":"2021-03-11","regulatoryAum":274866038,"clients":871,"employees":18,"offices":4},{"filedOn":"2022-03-10","regulatoryAum":378025083,"clients":975,"employees":18,"offices":4},{"filedOn":"2023-06-02","regulatoryAum":355185981,"clients":1060,"employees":17,"offices":4},{"filedOn":"2024-02-12","regulatoryAum":369350017,"clients":965,"employees":17,"offices":3},{"filedOn":"2025-07-29","regulatoryAum":428867970,"clients":1012,"employees":15,"offices":3},{"filedOn":"2026-04-03","regulatoryAum":509747075,"clients":1102,"employees":16,"offices":4}],"secFileNumber":"801-106492","legalName":"Madison Advisory Services, Inc.","displayName":"Madison Advisory Services","slug":"madison-advisory-services-132386","website":"https://madisonplanning.com/","classification":{"segment":"individuals","segmentLabel":"Wealth management","type":"independent_wealth_manager","typeLabel":"RIA","feeDisclosure":"full"},"linkedinUrl":"https://www.linkedin.com/company/madisonplanning/","founded":null,"organization":"New York corporation","fiscalYearEnd":"December","headquarters":{"street":"10 New King St, Suite 104","city":"White Plains","state":"NY","stateName":"New York","country":"United States","postalCode":"10604"},"tradeNames":[],"registration":{"secApproved":"10 August 2015","noticeFilings":null,"latestNoticeFiling":null},"wealthAumPerClient":467410.84444444446,"staff":{"employees":16,"advisory":11,"brokerDealerReps":9,"insuranceAgents":10,"promoters":0},"aum":{"regulatory":509747075,"discretionary":509747075,"discretionaryAccounts":2229,"nonDiscretionary":0,"nonDiscretionaryAccounts":0,"wrapProgram":0,"nonUsClientsPct":0,"nonAumClients":0},"clientTypes":[{"label":"Individuals (other than HNW)","clients":877,"regulatoryAum":239199635},{"label":"High-net-worth individuals","clients":203,"regulatoryAum":265604077},{"label":"Pension and profit-sharing plans","clients":18,"regulatoryAum":2336518},{"label":"Charitable organizations","clients":4,"fewerThan5":true,"regulatoryAum":2606845}],"feePrograms":[{"role":"other","program":"Financial planning","summary":"Financial planning is billed as a fixed fee of $250 to $20,000, an annual fee of $250 to $20,000, or $500 an hour, as agreed before the engagement.","sourceUrl":"https://files.adviserinfo.sec.gov/IAPD/Content/Common/crd_iapd_Brochure.aspx?BRCHR_VRSN_ID=1023804","versionId":1023804,"submittedOn":"2026-03-23","documentName":"ADV PART 2A - MADISION ADVISORY"}],"brochureCoverage":{"scope":"sec_inventory","status":"reviewed_no_numerical_schedule","checkedAt":"2026-10-22T09:01:28.693402+00:00","documents":[{"name":"ADV PART 2A - MADISION ADVISORY","status":"read","sourceUrl":"https://files.adviserinfo.sec.gov/IAPD/Content/Common/crd_iapd_Brochure.aspx?BRCHR_VRSN_ID=1023804","versionId":1023804,"submittedOn":"2026-03-23"}]},"custodians":[{"name":"SEI Investments Distribution Co.","shortName":"SEI Investments Distribution","location":"Oaks, PA","smaAssets":509663331}],"custodyNote":"Madison Advisory Services does not have custody of client assets.","otherCustodians":[],"leadership":[{"name":"Gary Schwartz","title":"President, Chief Compliance Officer","crd":"2184551"},{"name":"Dean McBeth","title":"Chief Financial Officer","crd":"4450820"},{"name":"Benjamin Schwartz","title":"Chief Operating Officer","crd":"5947172"}],"ownership":[{"label":"Madison Family Holdings LLC","detail":"Owner in the 75% or more ownership band and a control person, since January 2021."},{"label":"Gary Schwartz","detail":"Indirect owner: a member of Madison Family Holdings LLC in the 50% to 75% band and a control person, since January 2021.","parent":"Madison Family Holdings LLC"},{"label":"Benjamin Schwartz","detail":"Indirect owner: a member of Madison Family Holdings LLC in the 25% to 50% band and a control person, since January 2021.","parent":"Madison Family Holdings LLC"}],"branchOffices":null,"filedOffices":{"otherThanPrincipal":3,"privateResidences":0},"listedOfficeAddresses":4,"foreignOffices":[],"officesByState":[{"state":"Florida","offices":1,"addresses":[{"street":"6415 Lake Worth Road","city":"Lake Worth"}]},{"state":"New York","offices":2,"addresses":[{"street":"10 New King St, Suite 104","city":"White Plains","headquarters":true},{"street":"7030 East Genesee Street","city":"Fayetteville"}]},{"state":"North Carolina","offices":1,"addresses":[{"street":"1 Glenwood Ave","city":"Raleigh"}]}],"advFacts":{"source":{"file":"ia100226.zip","asOf":"2 October 2026"},"telephone":"914-328-8558","stateRegisteredReps":10,"otherAdviserReps":0,"compensation":["A percentage of assets under management","Hourly charges","Fixed fees (other than subscription fees)"],"activities":["Financial planning services","Portfolio management for individuals and/or small businesses","Selection of other advisers (including private fund managers)","Educational seminars/workshops"],"financialPlanningClients":"101-250","assetMix":[{"label":"Exchange-traded equity securities","percent":12},{"label":"Non-exchange-traded equity securities","percent":1},{"label":"U.S. government/agency bonds","percent":1},{"label":"U.S. state and local bonds","percent":1},{"label":"Investment grade corporate bonds","percent":1},{"label":"Securities issued by registered investment companies or business development companies","percent":77},{"label":"Securities issued by pooled investment vehicles (other than registered investment companies)","percent":1},{"label":"Cash and cash equivalents","percent":9}],"privateFunds":0},"sources":{"adv1FilingDate":"3 April 2026","adv1Url":"https://reports.adviserinfo.sec.gov/reports/ADV/132386/PDF/132386.pdf","brochureDate":"23 March 2026","brochureUrl":"https://files.adviserinfo.sec.gov/IAPD/Content/Common/crd_iapd_Brochure.aspx?BRCHR_VRSN_ID=1023804","iapdCompiledDate":null,"retrievedDate":"15 October 2026","retrievedOn":"2026-10-15","updatedOn":"2026-10-22","holdingsUpdatedOn":"2026-10-21","adv1Pages":{},"brochurePages":{}},"otherBusiness":[],"faq":[{"question":"How many clients does Madison Advisory Services have?","answer":"Madison Advisory Services has 1,102 clients and manages $510 million for them, as of April 2026. They include 877 individual clients, 203 high-net-worth individuals, and 18 pension and profit-sharing plans.","source":"Form ADV Part 1A, Items 5.D and 5.F, filed 3 April 2026","sourceRef":{"doc":"adv1","section":"employees"}},{"question":"What services does Madison Advisory Services offer?","answer":"Madison Advisory Services provides financial planning, portfolio management for individuals and small businesses, selecting other managers, and educational seminars.","source":"Form ADV Part 1A, Item 5.G, from the SEC's 2 October 2026 data file","sourceRef":{"doc":"adv1","section":"employees"}},{"question":"Which custodians does Madison Advisory Services use?","answer":"Madison Advisory Services’ separately managed account assets are held at SEI Investments Distribution Co. (Oaks, PA), with $510M. Only custodians holding at least a tenth of those assets are named.","source":"Form ADV Part 1A, Schedule D, Section 5.K.(3), filed 3 April 2026","sourceRef":{"doc":"adv1","section":"custodians"}},{"question":"How many financial advisors does Madison Advisory Services have?","answer":"Madison Advisory Services has 10 investment adviser representatives registered with state securities authorities, out of 16 employees, and 11 perform investment advisory functions. 9 employees are registered representatives of a broker-dealer and 10 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","sourceRef":{"doc":"adv1","section":"employees"}},{"question":"What does Madison Advisory Services invest in?","answer":"At the end of its last fiscal year, Madison Advisory Services’ separately managed accounts held 77% registered funds (mutual funds, ETFs, BDCs), 12% exchange-traded equities, 9% cash and equivalents, 1% non-exchange-traded equities, 1% U.S. government and agency bonds, 1% state and local bonds, 1% investment grade corporate bonds and 1% pooled vehicles (private funds and similar).","source":"Form ADV Part 1A, Items 5.K.(1) and 7.B, from the SEC's 2 October 2026 data file","sourceRef":{"doc":"adv1","section":"employees"}},{"question":"Who owns Madison Advisory Services?","answer":"Madison Advisory Services is owned through a holding company by Gary and Benjamin Schwartz. Its direct owner is Madison Family Holdings LLC (75% or more).","source":"Form ADV Part 1A, Schedules A and B, filed 3 April 2026","sourceRef":{"doc":"adv1","section":"scheduleA"}},{"question":"How does Madison Advisory Services get paid?","answer":"Madison Advisory Services 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","sourceRef":{"doc":"adv1","section":"employees"}},{"question":"How do I contact Madison Advisory Services?","answer":"Madison Advisory Services’ main office is at 10 New King St, Suite 104, White Plains, NY 10604. Its phone number is 914-328-8558. Its website is madisonplanning.com.","source":"Form ADV Part 1A, Item 1.F, filed 3 April 2026","sourceRef":{"doc":"adv1","section":"offices"}}],"holdings":null,"notice":"Compiled from public SEC Form ADV filings on the dates in `sources`. Facts as filed; not a rating, ranking, or recommendation. Niva is not affiliated with this firm. Disciplinary history is deliberately not included here or on the page; the SEC publishes the complete record at the `iapdUrl` above."}