Toth Financial Advisory provides portfolio management for individuals and small businesses, portfolio management for pooled vehicles, insurance, and retirement plan services. The firm advises 1 private fund.
Toth Financial Advisory reports 655 clients. They include 335 high-net-worth individuals, 312 individual clients, and 5 pension and profit-sharing plans. Of its assets, 98.6% ($1.14B across 2,310 accounts) are managed with discretion; $16.5M across 42 accounts are not. It advised 655 clients without assets under management last fiscal year.
| Client type | Clients | Assets |
|---|---|---|
| Individuals (other than HNW) | 48% | 8% |
| High-net-worth individuals | 51% | 85% |
| Pooled investment vehicles | <1% | 4% |
| Pension and profit-sharing plans | <1% | 1% |
| Charitable organizations | <1% | 1% |
Client breakdown and activity details
| Client type | Clients | Regulatory AUM | AUM share | Avg. per client |
|---|---|---|---|---|
| Individuals (other than HNW) | 312 | $97.6M | 8.5% | $313K |
| High-net-worth individuals | 335 | $984M | 85.2% | $2.94M |
| Pooled investment vehicles | 1 | $46.8M | 4.1% | $46.8M |
| Pension and profit-sharing plans | 5 | $11.7M | 1.0% | $2.34M |
| Charitable organizations | 2 | $14.6M | 1.3% | $7.28M |
| Total | 655 | $1.15B | 100% | $1.76M |
- Clients
- 312
- Regulatory AUM
- $97.6M
- AUM share
- 8.5%
- Avg. per client
- $313K
- Clients
- 335
- Regulatory AUM
- $984M
- AUM share
- 85.2%
- Avg. per client
- $2.94M
- Clients
- 1
- Regulatory AUM
- $46.8M
- AUM share
- 4.1%
- Avg. per client
- $46.8M
- Clients
- 5
- Regulatory AUM
- $11.7M
- AUM share
- 1.0%
- Avg. per client
- $2.34M
- Clients
- 2
- Regulatory AUM
- $14.6M
- AUM share
- 1.3%
- Avg. per client
- $7.28M
Total
- Clients
- 655
- Regulatory AUM
- $1.15B
- AUM share
- 100%
- Avg. per client
- $1.76M
- Clients outside the U.S.
- 0%
- Clients advised without assets under management last fiscal year
- 655
- Private funds advised
- 1
- Financial planning clients last fiscal year
- 0
Toth Financial Advisory charges 0.40%–1.30% a year for its Portfolio Management Using Individual Stocks. The fee is billed in advance and is negotiable. The brochure also prices 2 other services, listed under fee details.
Fee details and sources
Other fees
- 401(k) account recommendations
- Recommendations for 401(k) accounts held with an employer are charged 0.15% a year, subject to a $250 fee minimum per account.
- 529 plan management
- Stand-alone 529 plans are charged a management fee of 1.00% a year; 529 plans, limited partnerships and fixed annuities are charged 0.10% a year.
Thomas Bowman owns 25% to 50% of Toth Financial Advisory. Kenneth Bowen is CEO; the leadership team includes President Thomas Bowman and Chief Investment Officer Kevin Arbogast. It has 18 employees, 10 of them in advisory roles.
Leadership
- Kenneth BowenChief Executive Officer
- Thomas BowmanPresident
- Thomas BowmanChief Compliance Officer
- Kevin ArbogastChief Investment Officer
- Thomas TothChairman of the Board of Directors
Investment adviser representatives
10 representatives listed in the SEC register as of 9 October 2026.
- Kevin William Arbogast
- Kenneth Jackson Bowen II
- Thomas Albert Bowman JR
- Wesley Scot Kabance
- Stephanie Elizabeth Muskovac
- Todd Owen Pettibon
- Joseph Adam Scanlan
- Jordan Bryant Sorrenti
- Brawn Curtis Sproul
- Thomas Andrew Toth SR
Staff
- 18 employees
- 10 in advisory functions
- 2 insurance agents
- Owns 25% to 50% of Toth Financial Advisory Corp
Thomas Bowman
Control person · since September 2009
- Owns 25% to 50% of Toth Financial Advisory Corp
Kenneth Bowen
Control person · since September 2013
- Owns 10% to 25% of Toth Financial Advisory Corp
Thomas Toth
Control person · since July 1986
- Owns 10% to 25% of Toth Financial Advisory Corp
Kevin Arbogast
since January 2020
Toth Financial Advisory’s regulatory assets grew 1.6× from $733M (April 2021) to $1.15B (March 2026); clients rose from 538 to 655 and employees from 17 to 18.
Figures from each annual filing
| Filed | Regulatory AUM | Clients | Employees | Offices |
|---|---|---|---|---|
| March 2026 | $1.15B | 655 | 18 | 1 |
| March 2025 | $1.02B | 633 | 18 | 1 |
| March 2024 | $866M | 610 | 18 | 1 |
| March 2023 | $754M | 596 | 17 | 1 |
| March 2022 | $899M | 577 | 15 | 1 |
| April 2021 | $733M | 538 | 17 | 1 |
Besides its headquarters, Toth Financial Advisory has 0 offices, with 1 listed address in Virginia.
Virginia · 1 listed address
- 608 South King Street, Suite 300, LeesburgHQ
Contact and registration details
- Legal name
- Toth Financial Advisory Corp
- Headquarters
- 608 South King Street, Suite 300, Leesburg, VA 20175
- Website
- tothfinancial.com
- Phone
- 703-443-8684
- SEC file
- 801-27662
- Founded
- 1986
- Structure
- Virginia corporation
- Fiscal year end
- December
Toth Financial Advisory uses Charles Schwab ($696M) as custodian for its separately managed accounts. Toth Financial Advisory has custody of $37.9M in client assets for 1 client.
- Charles SchwabCharles Schwab & Co, Inc. · Orlando, FL · $696M100%
At year end, Toth Financial Advisory’s separately managed accounts were mostly in stocks (90%). Its reported 13F holdings for the quarter ended 30 June 2026 total $1.02B across 880 positions; the largest are Alphabet Inc. (2.8%), Apple Inc. (2.6%) and Cisco Sys Inc. (2.4%).
What the accounts hold
- Stocks90%
- Bonds1%
- Cash6%
- Other3%
- Annuities, insurance, oil and gas3%
Reported 13F holdings
- $1.02B
- Reported 13F value
- 880
- Positions
- 21.8%
- In the 10 largest
- +12.4%
- Value vs. prior quarter
- Alphabet Inc. · Cap Stk CL A2.8%
- Apple Inc.2.6%
- Cisco Sys Inc.2.4%
- Proshares TR · Pshs Ultra Qqq2.3%
- iShares TR · iShares Semicdtr2.2%
- Proshares TR · S&P Mdcp 400 Div2.1%
- Microsoft Corp.2.1%
- Proshares TR · S&P 500 DV Arist1.9%
- Select Sector SPDR TR · ST Str Techn ETF1.8%
- Visa Inc. · Com CL A1.7%
Together, the ten largest are 21.8% of reported value.
How many clients does Toth Financial Advisory have?
Toth Financial Advisory has 655 clients and manages $1.15 billion for them, as of March 2026. They include 335 high-net-worth individuals, 312 individual clients, and 5 pension and profit-sharing plans.
Source: Form ADV Part 1A, Items 5.D and 5.F, filed 10 March 2026
What services does Toth Financial Advisory offer?
Toth Financial Advisory provides portfolio management for individuals and small businesses, portfolio management for pooled vehicles, insurance, and retirement plan services.
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 Toth Financial Advisory charge?
Toth Financial Advisory charges 0.40%–1.30% a year for its Portfolio Management Using Individual Stocks. The fee is billed in advance and is negotiable.
Source: TFAC FORM ADV PART 2A AND 2B MARCH 2024, filed 10 March 2026
Which custodians does Toth Financial Advisory use?
Toth Financial Advisory’s separately managed account assets are held at Charles Schwab & Co, Inc. (Orlando, FL), with $696M. Only custodians holding at least a tenth of those assets are named.
Source: Form ADV Part 1A, Schedule D, Section 5.K.(3), filed 10 March 2026
How many financial advisors does Toth Financial Advisory have?
Toth Financial Advisory has 0 investment adviser representatives registered with state securities authorities, out of 18 employees, and 10 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 Toth Financial Advisory invest in?
At the end of its last fiscal year, Toth Financial Advisory’s separately managed accounts held 90% exchange-traded equities, 6% cash and equivalents, 3% other and 1% state and local bonds. The 3% other category is described as: Annuities, Insurance, Oil and Gas. It advises 1 private fund.
Source: Form ADV Part 1A, Items 5.K.(1) and 7.B, from the SEC's 2 October 2026 data file
Who owns Toth Financial Advisory?
Toth Financial Advisory’s direct owners are Thomas Toth, Thomas Bowman, Kenneth Bowen and Kevin Arbogast, each holding 50% or less.
Source: Form ADV Part 1A, Schedules A and B, filed 10 March 2026
How does Toth Financial Advisory get paid?
Toth Financial Advisory is paid through a percentage of assets under management and performance-based fees. Its Form ADV lists no commissions among how it is paid.
Source: Form ADV Part 1A, Item 5.E, from the SEC's 2 October 2026 data file
Is Toth Financial Advisory registered with the SEC?
Yes, Toth Financial Advisory has been registered with the SEC as an investment adviser since 21 August 1986. Its CRD number is 104952 and its SEC file number is 801-27662.
Source: Form ADV Part 1A, Item 1, filed 10 March 2026; IAPD firm record
How do I contact Toth Financial Advisory?
Toth Financial Advisory’s main office is at 608 South King Street, Suite 300, Leesburg, VA 20175. Its phone number is 703-443-8684. Its website is tothfinancial.com.