{"url":"https://nivawealth.com/firms/usa-financial-exchange-283466","iapdUrl":"https://adviserinfo.sec.gov/firm/summary/283466","regulatoryAum":1635901063,"crd":"283466","history":[{"filedOn":"2021-03-30","regulatoryAum":454055485,"clients":3339,"employees":27,"offices":1},{"filedOn":"2022-03-31","regulatoryAum":1339862942,"clients":5556,"employees":27,"offices":1},{"filedOn":"2023-03-31","regulatoryAum":1370303555,"clients":10870,"employees":38,"offices":1},{"filedOn":"2024-04-22","regulatoryAum":1399837496,"clients":10320,"employees":38,"offices":1},{"filedOn":"2025-03-26","regulatoryAum":1601885578,"clients":227815,"employees":38,"offices":1},{"filedOn":"2026-03-27","regulatoryAum":1635901063,"clients":10265,"employees":38,"offices":1}],"secFileNumber":"801-107771","legalName":"USA Financial Exchange LLC","displayName":"USA Financial Exchange","slug":"usa-financial-exchange-283466","website":"https://usafinancialexchange.com/","logo":{"src":"https://rmkhnxnbeclogprvkfyl.supabase.co/storage/v1/object/public/firm-logos/283466/ec87e204e517a649-r1.webp","tone":"light","width":1579,"height":200,"sourceUrl":"https://www.usafinancial.com/about-usaf/corporate-structure/usaf-exchange","sourceLabel":"USA Financial Exchange, website"},"classification":{"segment":"individuals","segmentLabel":"Wealth management","type":"model_portfolio_provider","typeLabel":"TAMP / model provider","feeDisclosure":"payment_only"},"founded":null,"organization":"Delaware limited liability company","fiscalYearEnd":"December","headquarters":{"street":"6020 East Fulton Street","city":"Ada","state":"MI","stateName":"Michigan","country":"United States","postalCode":"49301"},"tradeNames":[],"registration":{"secApproved":"18 May 2016","noticeFilings":null,"latestNoticeFiling":null},"wealthAumPerClient":159366.8838772528,"staff":{"employees":38,"advisory":0,"brokerDealerReps":26,"insuranceAgents":10,"promoters":1},"aum":{"regulatory":1635901063,"discretionary":1635901063,"discretionaryAccounts":9971,"nonDiscretionary":0,"nonDiscretionaryAccounts":0,"wrapProgram":null,"nonUsClientsPct":0,"nonAumClients":0},"clientTypes":[{"label":"Individuals (other than HNW)","clients":9971,"regulatoryAum":1402472623},{"label":"High-net-worth individuals","clients":294,"regulatoryAum":233428440}],"feePrograms":[],"brochureCoverage":{"scope":"known_documents","status":"not_processed","checkedAt":null,"documents":[]},"custodians":[{"name":"Axos Advisor Services","shortName":"Axos Advisor Services","location":"Omaha, NE","smaAssets":1377837496},{"name":"Charles Schwab","shortName":"Charles Schwab","location":"Westlake, TX","smaAssets":22000000},{"name":"Pershing Advisor Services","shortName":"Pershing","location":"Jersey City, NJ","smaAssets":0}],"custodyNote":"USA Financial Exchange does not have custody of client assets.","otherCustodians":[],"leadership":[{"name":"Brent Enders","title":"President/Manager","crd":"2858719"},{"name":"William Bachert","title":"Chief Financial Officer","crd":"4576698"},{"name":"Dawn Thomason","title":"Chief Compliance Officer","crd":"5275125"},{"name":"James McConnell","title":"Chief Operations Officer","crd":"4679140"},{"name":"Mark Mersman","title":"Chief Marketing Officer","crd":"4702400"},{"name":"Michael Walters","title":"CEO","crd":"2580592"}],"ownership":[{"label":"USA Financial LLC","detail":"Direct owner in the 75% or more ownership band and a control person, since January 2016."},{"label":"Al Marketing LLC","detail":"Indirect owner: a member of USA Financial LLC in the 75% or more band and a control person, since August 2021.","parent":"USA Financial LLC"},{"label":"Amerilife Group LLC","detail":"Indirect owner: a member of Al Marketing LLC in the 75% or more band and a control person, since August 2021.","parent":"Al Marketing LLC"},{"label":"Amerilife Midco LLC","detail":"Indirect owner: a member of Amerilife Group LLC in the 75% or more band and a control person, since August 2021.","parent":"Amerilife Group LLC"},{"label":"Amerilife Holdings LLC","detail":"Indirect owner: a member of Amerilife Midco LLC in the 75% or more band and a control person, since August 2021.","parent":"Amerilife Midco LLC"},{"label":"Accelerate Buyer LLC","detail":"Indirect owner: a member of Amerilife Holdings LLC in the 75% or more band and a control person, since August 2021.","parent":"Amerilife Holdings LLC"},{"label":"Accelerate Intermediate Holdings 1 LLC","detail":"Indirect owner: a member of Accelerate Buyer LLC in the 75% or more band and a control person, since August 2021.","parent":"Accelerate Buyer LLC"},{"label":"Accelerate Intermediate Holdings 2 LLC","detail":"Indirect owner: a member of Accelerate Intermediate Holdings 1 LLC in the 75% or more band and a control person, since August 2021.","parent":"Accelerate Intermediate Holdings 1 LLC"},{"label":"Accelerate Topco Holdings LLC","detail":"Indirect owner: a member of Accelerate Intermediate Holdings 2 LLC in the 75% or more band and a control person, since August 2021.","parent":"Accelerate Intermediate Holdings 2 LLC"},{"label":"Amerilife Blocker Holdings LLC","detail":"Indirect owner: a member of Accelerate Topco Holdings LLC in the 25% to 50% band and a control person, since November 2022.","parent":"Accelerate Topco Holdings LLC"},{"label":"THL Amerilife Parallel SPV LP","detail":"Indirect owner: a member of Amerilife Blocker Holdings LLC in the 50% to 75% band and a control person, since November 2022.","parent":"Amerilife Blocker Holdings LLC"},{"label":"THL Amerilife Equity Advisors LLC","detail":"Indirect owner: general partner of THL Amerilife Parallel SPV LP and a control person, since November 2022.","parent":"THL Amerilife Parallel SPV LP"},{"label":"THL Al Blocked Buyer Feeder LP","detail":"Indirect owner: a limited partner of THL Amerilife Parallel SPV LP in the 75% or more band and a control person, since November 2022.","parent":"THL Amerilife Parallel SPV LP"},{"label":"Icg Holiday Partners I LP","detail":"Indirect owner: a limited partner of THL Al Blocked Buyer Feeder LP in the 75% or more band and a control person, since November 2022.","parent":"THL Al Blocked Buyer Feeder LP"},{"label":"GC Propel Holdings Inc","detail":"Indirect owner: a member of Accelerate Topco Holdings LLC in the 25% to 50% band and a control person, since August 2022.","parent":"Accelerate Topco Holdings LLC"},{"label":"GC Propel Aggregator LP","detail":"Indirect owner: a shareholder of GC Propel Holdings Inc in the 25% to 50% band and a control person, since August 2022.","parent":"GC Propel Holdings Inc"},{"label":"GC Propel Aggregator GP LLC","detail":"Indirect owner: general partner of GC Propel Aggregator LP and a control person, since August 2022.","parent":"GC Propel Aggregator LP"},{"label":"Genstar Capital Partners X LP","detail":"Indirect owner: a limited partner of GC Propel Aggregator LP in the 50% to 75% band and a control person, since August 2022. Also a member of GC Propel Aggregator GP LLC in the 75% or more band and a control person, since August 2022.","parent":"GC Propel Aggregator LP"},{"label":"Genstar Capital X LP","detail":"Indirect owner: general partner of Genstar Capital Partners X LP and a control person, since August 2022.","parent":"Genstar Capital Partners X LP"},{"label":"Genstar X GP LLC","detail":"Indirect owner: general partner of Genstar Capital X LP and a control person, since August 2022.","parent":"Genstar Capital X LP"}],"branchOffices":null,"filedOffices":{"otherThanPrincipal":0,"privateResidences":0},"listedOfficeAddresses":1,"foreignOffices":[],"officesByState":[{"state":"Michigan","offices":1,"addresses":[{"street":"6020 East Fulton Street","city":"Ada","headquarters":true}]}],"advFacts":{"source":{"file":"ia100226.zip","asOf":"2 October 2026"},"telephone":"888-444-0125","stateRegisteredReps":26,"otherAdviserReps":0,"compensation":["Other"],"activities":["Selection of other advisers (including private fund managers)","Other"],"financialPlanningClients":"0","assetMix":[{"label":"Exchange-traded equity securities","percent":44},{"label":"U.S. state and local bonds","percent":1},{"label":"Securities issued by registered investment companies or business development companies","percent":49},{"label":"Cash and cash equivalents","percent":6}],"privateFunds":0},"sources":{"adv1FilingDate":"27 March 2026","adv1Url":"https://reports.adviserinfo.sec.gov/reports/ADV/283466/PDF/283466.pdf","brochureDate":null,"brochureUrl":null,"iapdCompiledDate":null,"retrievedDate":"15 October 2026","retrievedOn":"2026-10-15","updatedOn":"2026-10-21","holdingsUpdatedOn":"2026-10-21","adv1Pages":{},"brochurePages":{}},"otherBusiness":[],"faq":[{"question":"How many clients does USA Financial Exchange have?","answer":"USA Financial Exchange has 10,265 clients and manages $1.64 billion for them, as of March 2026. They include 9,971 individual clients and 294 high-net-worth individuals.","source":"Form ADV Part 1A, Items 5.D and 5.F, filed 27 March 2026","sourceRef":{"doc":"adv1","section":"employees"}},{"question":"What services does USA Financial Exchange offer?","answer":"USA Financial Exchange provides selecting other managers.","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 USA Financial Exchange use?","answer":"USA Financial Exchange’s separately managed account assets are held at Axos Advisor Services (Omaha, NE), with $1.38B and Charles Schwab (Westlake, TX), with $22M. The filing also lists Pershing Advisor Services with no separately managed account assets.","source":"Form ADV Part 1A, Schedule D, Section 5.K.(3), filed 27 March 2026","sourceRef":{"doc":"adv1","section":"custodians"}},{"question":"How many financial advisors does USA Financial Exchange have?","answer":"USA Financial Exchange has 26 investment adviser representatives registered with state securities authorities, out of 38 employees, and 0 perform investment advisory functions. 26 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 USA Financial Exchange invest in?","answer":"At the end of its last fiscal year, USA Financial Exchange’s separately managed accounts held 49% registered funds (mutual funds, ETFs, BDCs), 44% exchange-traded equities, 6% cash and equivalents and 1% state and local bonds.","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 USA Financial Exchange?","answer":"USA Financial Exchange is owned through a chain of holding companies by Icg Holiday Partners I LP. Its direct owner is USA Financial LLC (75% or more).","source":"Form ADV Part 1A, Schedules A and B, filed 27 March 2026","sourceRef":{"doc":"adv1","section":"scheduleA"}},{"question":"How does USA Financial Exchange get paid?","answer":"USA Financial Exchange is paid through other compensation. 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 USA Financial Exchange?","answer":"USA Financial Exchange’s main office is at 6020 East Fulton Street, Ada, MI 49301. Its phone number is 888-444-0125. Its website is usafinancialexchange.com.","source":"Form ADV Part 1A, Item 1.F, filed 27 March 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."}