Physician Wealth Advisors provides financial planning, portfolio management for individuals and small businesses, pension consulting, and educational seminars. Financial planning was provided to 11–25 clients last fiscal year.
Physician Wealth Advisors reports 1,124 clients. They include 717 individual clients, 371 high-net-worth individuals, and 36 pension and profit-sharing plans. Of its assets, 67.0% ($1.34B across 3,176 accounts) are managed with discretion; $663M across 2,730 accounts are not. Of its clients, 1% are outside the U.S. It advised 100 clients without assets under management last fiscal year.
| Client type | Clients | Assets |
|---|---|---|
| Individuals (other than HNW) | 64% | 11% |
| High-net-worth individuals | 33% | 56% |
| Pension and profit-sharing plans | 3% | 33% |
Client breakdown and activity details
| Client type | Clients | Regulatory AUM | AUM share | Avg. per client |
|---|---|---|---|---|
| Individuals (other than HNW) | 717 | $213M | 10.6% | $297K |
| High-net-worth individuals | 371 | $1.13B | 56.3% | $3.05M |
| Pension and profit-sharing plans | 36 | $663M | 33.0% | $18.4M |
| Total | 1,124 | $2.01B | 100% | $1.79M |
- Clients
- 717
- Regulatory AUM
- $213M
- AUM share
- 10.6%
- Avg. per client
- $297K
- Clients
- 371
- Regulatory AUM
- $1.13B
- AUM share
- 56.3%
- Avg. per client
- $3.05M
- Clients
- 36
- Regulatory AUM
- $663M
- AUM share
- 33.0%
- Avg. per client
- $18.4M
Total
- Clients
- 1,124
- Regulatory AUM
- $2.01B
- AUM share
- 100%
- Avg. per client
- $1.79M
- Clients outside the U.S.
- 1%
- Clients advised without assets under management last fiscal year
- 100
- Private funds advised
- 0
- Financial planning clients last fiscal year
- 11–25
Physician Wealth Advisors charges 0.40%–0.80% a year for its Investment management fees. The fee is billed in arrears.
Fee details and sources
Utah Medical Association owns 75% or more of Physician Wealth Advisors. The leadership team of Physician Wealth Advisors includes President Ryan Bladen and Chief Compliance Officer Jeffrey Zesiger. It has 15 employees, 7 of them in advisory roles.
Staff
- 15 employees
- 7 in advisory functions
- 9 state-registered reps
- 6 insurance agents
- 1 soliciting firm
- Owns 75% or more of Physician Wealth Advisors, Inc.
Utah Medical Association
Control person · since September 1993
Physician Wealth Advisors’ regulatory assets grew 1.5× from $1.31B (March 2021) to $2.01B (March 2026); clients fell from 1,266 to 1,124 and employees rose from 13 to 15.
Figures from each annual filing
| Filed | Regulatory AUM | Clients | StaffEmployees | Offices |
|---|---|---|---|---|
| Mar 2026March 2026 | $2.01B | 1,124 | 15 | 1 |
| Mar 2025March 2025 | $1.73B | 1,102 | 15 | 1 |
| Apr 2024April 2024 | $1.53B | 1,109 | 15 | 1 |
| May 2023May 2023 | $1.33B | 1,114 | 14 | 1 |
| Mar 2022March 2022 | $1.47B | 1,103 | 13 | 1 |
| Mar 2021March 2021 | $1.31B | 1,266 | 13 | 1 |
Besides its headquarters, Physician Wealth Advisors has 0 offices, with 1 listed address in 1 state.
Utah · 1 listed address
- 6820 South 900 East, Suite 200, Salt Lake CityHQ
Other business names
Physician Wealth Advisors has reported 1 other business name to the SEC.
- Pwa
Contact and registration details
- Legal name
- Physician Wealth Advisors, Inc.
- Headquarters
- 6820 South 900 East, Suite 200, Salt Lake City, UT 84047
- Website
- pwa.org
- Phone
- 801-747-0800
- @physician-wealth-advisors
- SEC file
- 801-63664
- Structure
- Utah corporation
- Fiscal year end
- December
Physician Wealth Advisors’ named custodians for separately managed accounts are Fidelity ($1.23B, 97%), Charles Schwab ($26.8M, 2%) and Ameritas Investment ($14.2M, 1%). Physician Wealth Advisors has custody of $166M for 272 clients.
- FidelityNational Financial Services LLC · Boston, MA · $1.23B97%
- Charles SchwabCharles Schwab & Co., Inc. · Westlake, TX · $26.8M2%
- Ameritas InvestmentAmeritas Investment Company, LLC · Lincoln, NE · $14.2M1%
At year end, Physician Wealth Advisors’ separately managed accounts were mostly in funds (74%) and stocks (11%). Its reported 13F holdings for the quarter ended 30 June 2026 total $837M across 2,334 positions; the largest are iShares TR (12.3%), SPDR Series Trust (11.2%) and iShares TR (5.3%).
What the accounts hold
- Stocks11%
- Exchange-traded equities10%
- Non-exchange-traded equities1%
- Funds74%
- Registered funds70%
- Pooled vehicles4%
- Bonds6%
- State and local bonds4%
- U.S. government and agency bonds1%
- Investment grade corporate bonds1%
- Cash5%
- Other4%
- Separately managed accounts4%
How many clients does Physician Wealth Advisors have?
Physician Wealth Advisors has 1,124 clients and manages $2.01 billion for them, as of March 2026. They include 717 individual clients, 371 high-net-worth individuals, and 36 pension and profit-sharing plans.
Source: Form ADV Part 1A, Items 5.D and 5.F, filed 19 March 2026
What services does Physician Wealth Advisors offer?
Physician Wealth Advisors provides financial planning, portfolio management for individuals and small businesses, pension consulting, and educational seminars.
Source: Form ADV Part 1A, Item 5.G, from the SEC's 2 October 2026 data file
How much does Physician Wealth Advisors charge?
Physician Wealth Advisors charges 0.40%–0.80% a year for its Investment management fees. The fee is billed in arrears.
Source: PHYSICIAN WEALTH ADVISORS FORM ADV 2 BROCHURE, filed 19 March 2026
Which custodians does Physician Wealth Advisors use?
Physician Wealth Advisors’ separately managed account assets are held at National Financial Services LLC (Boston, MA), with $1.23B, Charles Schwab & Co., Inc. (Westlake, TX), with $26.8M and Ameritas Investment Company, LLC (Lincoln, NE), with $14.2M. Only custodians holding at least a tenth of those assets are named.
Source: Form ADV Part 1A, Schedule D, Section 5.K.(3), filed 19 March 2026
How many financial advisors does Physician Wealth Advisors have?
Physician Wealth Advisors has 9 investment adviser representatives registered with state securities authorities, out of 15 employees, and 7 perform investment advisory functions. 0 employees are registered representatives of a broker-dealer and 6 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 Physician Wealth Advisors invest in?
At the end of its last fiscal year, Physician Wealth Advisors’ separately managed accounts held 70% registered funds (mutual funds, ETFs, BDCs), 10% exchange-traded equities, 5% cash and equivalents, 4% state and local bonds, 4% pooled vehicles (private funds and similar), 4% other, 1% non-exchange-traded equities, 1% U.S. government and agency bonds and 1% investment grade corporate bonds. The 4% other category is described as: Separately Managed Accounts.
Source: Form ADV Part 1A, Items 5.K.(1) and 7.B, from the SEC's 2 October 2026 data file
Who owns Physician Wealth Advisors?
Physician Wealth Advisors’ direct owner is Utah Medical Association (75% or more).
Source: Form ADV Part 1A, Schedules A and B, filed 19 March 2026
How does Physician Wealth Advisors get paid?
Physician Wealth Advisors 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
How do I contact Physician Wealth Advisors?
Physician Wealth Advisors’ main office is at 6820 South 900 East, Suite 200, Salt Lake City, UT 84047. Its phone number is 801-747-0800. Its website is pwa.org.