Riverwater Partners provides financial planning, portfolio management for individuals and small businesses, and portfolio management for institutions. Financial planning was provided to 11–25 clients last fiscal year.
Riverwater Partners reports 185 clients. They include 87 high-net-worth individuals, 74 individual clients and 15 charitable organizations. Of its assets, 65.7% ($434M across 464 accounts) are managed with discretion; $226M across 84 accounts are not. A wrap fee program the firm both sponsors and manages holds $7.17M.
| Client type | Clients | Assets |
|---|---|---|
| Individuals (other than HNW) | 40% | 3% |
| High-net-worth individuals | 47% | 70% |
| Charitable organizations | 8% | 12% |
| Other investment advisers | 4% | 16% |
| Corporations and other businesses | 1% | <1% |
Client breakdown and activity details
| Client type | Clients | Regulatory AUM | AUM share | Avg. per client |
|---|---|---|---|---|
| Individuals (other than HNW) | 74 | $17M | 2.6% | $230K |
| High-net-worth individuals | 87 | $463M | 70.0% | $5.32M |
| Charitable organizations | 15 | $76.7M | 11.6% | $5.12M |
| Other investment advisers | 7 | $104M | 15.7% | $14.9M |
| Corporations and other businesses | Fewer than 5 | $492K | 0.1% | $246K |
| Total | 185 | $661M | 100% | — |
- Clients
- 74
- Regulatory AUM
- $17M
- AUM share
- 2.6%
- Avg. per client
- $230K
- Clients
- 87
- Regulatory AUM
- $463M
- AUM share
- 70.0%
- Avg. per client
- $5.32M
- Clients
- 15
- Regulatory AUM
- $76.7M
- AUM share
- 11.6%
- Avg. per client
- $5.12M
- Clients
- 7
- Regulatory AUM
- $104M
- AUM share
- 15.7%
- Avg. per client
- $14.9M
- Clients
- Fewer than 5
- Regulatory AUM
- $492K
- AUM share
- 0.1%
- Avg. per client
- $246K
Total
- Clients
- 185
- Regulatory AUM
- $661M
- AUM share
- 100%
- Avg. per client
- —
- 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
- 11–25
Riverwater Partners is paid through a percentage of assets under management and hourly charges. The reviewed brochures do not disclose an asset-based fee rate. Read the SEC-filed brochure. The brochure also prices one other service, listed under fee details.
Fee details and sources
Other fees
- Financial Planning (Model Portfolio)
- Financial planning for Model Portfolio Service clients is a flat project fee of $3,000 to $5,000 per plan, under a separate agreement.
Adam Peck owns 25% to 50% of Riverwater Partners. The leadership team of Riverwater Partners includes Chief Investment Officer Adam Peck, Chief Operating Officer Laura Peck and Chief Compliance Officer Manoj Pombra. It has 11 employees, 8 of them in advisory roles.
Leadership
- Laura PeckMember and Chief Operating Officer
- Manoj PombraChief Compliance Officer
- Matthew DrvaricPartner
- Kirk FoxPartner and Director of Research
- Adam PeckMember and Chief Investment Officer
Investment adviser representatives
6 representatives listed in the SEC register as of 9 October 2026.
Staff
- 11 employees
- 8 in advisory functions
- 6 state-registered reps
- 1 insurance agent
- Owns 25% to 50% of Riverwater Partners LLC
Adam Peck
Control person · since February 2016
- Owns 25% to 50% of Riverwater Partners LLC
Laura Peck
Control person · since May 2016
- Owns 5% to 10% of Riverwater Partners LLC
Matthew Drvaric
since June 2016
Riverwater Partners’ regulatory assets fell from $749M (March 2021) to $661M (June 2026); clients rose from 146 to 185 and employees from 7 to 11. In 2019, 2 advisory firms joined it. The most recent was Falcons Rock Investment Counsel, in August 2019.
Figures from each annual filing
| Filed | Regulatory AUM | Clients | Employees | Offices |
|---|---|---|---|---|
| June 2026 | $661M | 185 | 11 | 1 |
| April 2025 | $600M | 189 | 11 | 1 |
| June 2024 | $872M | 194 | 12 | 1 |
| May 2023 | $747M | 204 | 11 | 1 |
| June 2022 | $895M | 176 | 11 | 1 |
| March 2021 | $749M | 146 | 7 | 1 |
Firms that joined
20192 joined
- Falcons Rock Investment CounselNo filed AUM
- Falcons Rock Impact InvestmentsNo filed AUM
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, Riverwater Partners has 0 offices, with 1 listed address in Wisconsin.
Wisconsin · 1 listed address
- 1433 N. Water Street, Suite 303, MilwaukeeHQ
Contact and registration details
- Legal name
- Riverwater Partners LLC
- Headquarters
- 1433 N. Water Street, Suite 303, Milwaukee, WI 53202
- Website
- riverwaterpartners.com
- Phone
- 414-858-8000
- @riverwater-partners-llc
- SEC file
- 801-117635
- Structure
- Wisconsin LLC
- Fiscal year end
- December
Riverwater Partners uses Charles Schwab ($524M) as custodian for its separately managed accounts. Riverwater Partners has custody of $70.6M in client assets for 15 clients.
- Charles SchwabCharles Schwab & Co., Inc. · San Francisco, CA · $524M100%
At year end, Riverwater Partners’ separately managed accounts were mostly in funds (56%) and stocks (33%). Its reported 13F holdings for the quarter ended 30 June 2026 total $337M across 209 positions; the largest are Trust For Professional Manag (5.2%), iShares TR (3.1%) and American Centy ETF TR (2.9%).
What the accounts hold
- Stocks33%
- Funds56%
- Registered funds50%
- Pooled vehicles6%
- Bonds7%
- Cash3%
Filed values cover 99%. The neutral 1% gap has no reported category.
Reported 13F holdings
- $337M
- Reported 13F value
- 209
- Positions
- 23.3%
- In the 10 largest
- +12.3%
- Value vs. prior quarter
- Trust For Professional Manag · Convergence Lng5.2%
- iShares TR · Core S&P500 ETF3.1%
- American Centy ETF TR · Ava Res Mar ETF2.9%
- Adeia Inc.2.2%
- Morgan Stanley ETF Trust · Calvert US Larcp1.8%
- Netscout Sys Inc.1.7%
- Interdigital Inc.1.7%
- American Centy ETF TR · Avan RE Intl ETF1.7%
- iShares TR · Eafe Value ETF1.6%
- iShares TR · 0-3 Mth Treasury1.5%
Together, the ten largest are 23.3% of reported value.
How many clients does Riverwater Partners have?
Riverwater Partners has 185 clients and manages $661 million for them, as of June 2026. They include 87 high-net-worth individuals, 74 individual clients and 15 charitable organizations.
Source: Form ADV Part 1A, Items 5.D and 5.F, filed 16 June 2026
What services does Riverwater Partners offer?
Riverwater Partners provides financial planning, portfolio management for individuals and small businesses, and portfolio management for institutions.
Source: Form ADV Part 1A, Item 5.G, from the SEC's 2 October 2026 data file
Which custodians does Riverwater Partners use?
Riverwater Partners’ separately managed account assets are held at Charles Schwab & Co., Inc. (San Francisco, CA), with $524M. Only custodians holding at least a tenth of those assets are named.
Source: Form ADV Part 1A, Schedule D, Section 5.K.(3), filed 16 June 2026
How many financial advisors does Riverwater Partners have?
Riverwater Partners has 6 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 1 employee is a licensed insurance agent.
Source: Form ADV Part 1A, Items 5.A and 5.B, from the SEC's 2 October 2026 data file
What does Riverwater Partners invest in?
At the end of its last fiscal year, Riverwater Partners’ separately managed accounts held 50% registered funds (mutual funds, ETFs, BDCs), 33% exchange-traded equities, 7% state and local bonds, 6% pooled vehicles (private funds and similar) and 3% cash and equivalents.
Source: Form ADV Part 1A, Items 5.K.(1) and 7.B, from the SEC's 2 October 2026 data file
Who owns Riverwater Partners?
Riverwater Partners’ direct owners are Adam Peck, Laura Peck and Matthew Drvaric, each holding 50% or less.
Source: Form ADV Part 1A, Schedules A and B, filed 16 June 2026
How does Riverwater Partners get paid?
Riverwater Partners is paid through a percentage of assets under management and hourly charges. 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 Riverwater Partners registered with the SEC?
Yes, Riverwater Partners has been registered with the SEC as an investment adviser since 14 November 2019. Its CRD number is 283540 and its SEC file number is 801-117635.
Source: Form ADV Part 1A, Item 1, filed 16 June 2026; IAPD firm record
How do I contact Riverwater Partners?
Riverwater Partners’ main office is at 1433 N. Water Street, Suite 303, Milwaukee, WI 53202. Its phone number is 414-858-8000. Its website is riverwaterpartners.com.