Pathworks Financial provides financial planning and portfolio management for individuals and small businesses. Financial planning was provided to 1–10 clients last fiscal year.
Pathworks Financial reports 410 clients. They include 362 individual clients and 48 high-net-worth individuals. Of its assets, 67.2% ($188M across 823 accounts) are managed with discretion; $91.6M across 211 accounts are not. A wrap fee program the firm both sponsors and manages holds $188M. It advised 3 clients without assets under management last fiscal year.
| Client type | Clients | Assets |
|---|---|---|
| Individuals (other than HNW) | 88% | 31% |
| High-net-worth individuals | 12% | 67% |
| Pension and profit-sharing plans | 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) | 362 | $86.3M | 30.9% | $238K |
| High-net-worth individuals | 48 | $187M | 66.9% | $3.89M |
| Pension and profit-sharing plans | Fewer than 5 | $2.13M | 0.8% | — |
| Corporations and other businesses | Fewer than 5 | $3.99M | 1.4% | — |
| Total | 410 | $279M | 100% | — |
- Clients
- 362
- Regulatory AUM
- $86.3M
- AUM share
- 30.9%
- Avg. per client
- $238K
- Clients
- 48
- Regulatory AUM
- $187M
- AUM share
- 66.9%
- Avg. per client
- $3.89M
- Clients
- Fewer than 5
- Regulatory AUM
- $2.13M
- AUM share
- 0.8%
- Avg. per client
- —
- Clients
- Fewer than 5
- Regulatory AUM
- $3.99M
- AUM share
- 1.4%
- Avg. per client
- —
Total
- Clients
- 410
- Regulatory AUM
- $279M
- AUM share
- 100%
- Avg. per client
- —
- Clients outside the U.S.
- 0%
- Clients advised without assets under management last fiscal year
- 3
- Private funds advised
- 0
- Financial planning clients last fiscal year
- 1–10
Pathworks Financial is paid through a percentage of assets under management 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 3 other services, listed under fee details.
Fee details and sources
Other fees
- Estate planning
- Fee of $350 to $1,500 for clients who engage the firm only for estate planning support; a basic will package starts at $350 per person.
- Family office services
- Annual asset-based fee generally 0.65%, or fixed fees generally $150,000 to $300,000 depending on scope and complexity.
- Financial planning
- Flat fee of $795 to $2,500, negotiated before contracting, with 50% due at inception. Typically waived for investment management clients.
Douglas Smith owns 75% or more of Pathworks Financial. The leadership team of Pathworks Financial includes President Douglas Smith. It has 8 employees, 5 of them in advisory roles.
Leadership
- Douglas SmithPresident and Chief Compliance Officer
- Bryan SmithVice President
Investment adviser representatives
5 representatives listed in the SEC register as of 9 October 2026.
- Karrie Nicole Maier
- David Rene Mercier
- Robert Paul Schmansky
- Bryan Scott Smith
- Douglas Scott Smith
Staff
- 8 employees
- 5 in advisory functions
- 5 state-registered reps
- 2 insurance agents
- Owns 75% or more of Pathworks Financial, Inc.
Douglas Smith
Control person · since November 2005
- Owns 25% to 50% of Pathworks Financial, Inc.
Bryan Smith
since January 2020
Pathworks Financial’s regulatory assets grew 2.3× from $120M (June 2021) to $279M (January 2026); clients rose from 301 to 410 and employees from 5 to 8.
Figures from each annual filing
| Filed | Regulatory AUM | Clients | Employees | Offices |
|---|---|---|---|---|
| January 2026 | $279M | 410 | 8 | 2 |
| March 2025 | $237M | 555 | 7 | 2 |
| July 2024 | $144M | 501 | 6 | 2 |
| March 2023 | $156M | 288 | 8 | 1 |
| February 2022 | $145M | 274 | 6 | 1 |
| June 2021 | $120M | 301 | 5 | 1 |
Besides its headquarters, Pathworks Financial has 1 office (1 private residence, listed without an address), with 1 listed address in Michigan.
Michigan · 1 listed address
- 43155 Main Street, Suite 212, NoviHQ
Contact and registration details
- Legal name
- Pathworks Financial, Inc.
- Headquarters
- 43155 Main Street, Suite 212, Novi, MI 48375
- Website
- pathworksfinancial.com
- Phone
- 248-946-4515
- @pathworks-financial
- SEC file
- 801-120476
- Structure
- Michigan corporation
- Fiscal year end
- December
Pathworks Financial uses Fidelity ($202M, 73%) and Charles Schwab ($76.2M, 27%) as custodians for its separately managed accounts. Pathworks Financial does not have custody of client assets.
- FidelityNational Financial Services LLC · Boston, MA · $202M73%
- Charles SchwabCharles Schwab & Co., Inc. · Westlake, TX · $76.2M27%
At year end, Pathworks Financial’s separately managed accounts were mostly in stocks (90%).
What the accounts hold
- Stocks90%
- Exchange-traded equities66%
- Non-exchange-traded equities24%
- Funds6%
- Registered funds3%
- Pooled vehicles3%
- Bonds1%
- Cash3%
How many clients does Pathworks Financial have?
Pathworks Financial has 410 clients and manages $279 million for them, as of January 2026. They include 362 individual clients and 48 high-net-worth individuals.
Source: Form ADV Part 1A, Items 5.D and 5.F, filed 22 January 2026
What services does Pathworks Financial offer?
Pathworks Financial provides financial planning and portfolio management for individuals and small businesses.
Source: Form ADV Part 1A, Item 5.G, from the SEC's 2 October 2026 data file
Which custodians does Pathworks Financial use?
Pathworks Financial’s separately managed account assets are held at National Financial Services LLC (Boston, MA), with $202M and Charles Schwab & Co., Inc. (Westlake, TX), with $76.2M. Only custodians holding at least a tenth of those assets are named.
Source: Form ADV Part 1A, Schedule D, Section 5.K.(3), filed 22 January 2026
How many financial advisors does Pathworks Financial have?
Pathworks Financial has 5 investment adviser representatives registered with state securities authorities, out of 8 employees, and 5 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 Pathworks Financial invest in?
At the end of its last fiscal year, Pathworks Financial’s separately managed accounts held 66% exchange-traded equities, 24% non-exchange-traded equities, 3% registered funds (mutual funds, ETFs, BDCs), 3% pooled vehicles (private funds and similar), 3% 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
Who owns Pathworks Financial?
Pathworks Financial’s direct owners are Douglas Smith (75% or more) and Bryan Smith (25% to 50%).
Source: Form ADV Part 1A, Schedules A and B, filed 22 January 2026
How does Pathworks Financial get paid?
Pathworks Financial is paid through a percentage of assets under management 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
Is Pathworks Financial registered with the SEC?
Yes, Pathworks Financial has been registered with the SEC as an investment adviser since 10 March 2021. Its CRD number is 138393 and its SEC file number is 801-120476.
Source: Form ADV Part 1A, Item 1, filed 22 January 2026; IAPD firm record
How do I contact Pathworks Financial?
Pathworks Financial’s main office is at 43155 Main Street, Suite 212, Novi, MI 48375. Its phone number is 248-946-4515. Its website is pathworksfinancial.com.