Wells Financial Management provides financial planning and portfolio management for individuals and small businesses. Financial planning was provided to 1–10 clients last fiscal year.
Wells Financial Management reports 98 clients. They include 55 individual clients, 41 high-net-worth individuals and 1 charitable organization. Of its assets, 100.0% ($133M across 98 accounts) are managed with discretion. Of its clients, 2% are outside the U.S.
| Client type | Clients | Assets |
|---|---|---|
| Individuals (other than HNW) | 56% | 17% |
| High-net-worth individuals | 42% | 81% |
| Charitable organizations | 1% | <1% |
| 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) | 55 | $23.2M | 17.5% | $422K |
| High-net-worth individuals | 41 | $108M | 81.4% | $2.64M |
| Charitable organizations | Fewer than 5 | $278K | 0.2% | $278K |
| Corporations and other businesses | Fewer than 5 | $1.13M | 0.9% | $1.13M |
| Total | 98 | $133M | 100% | — |
- Clients
- 55
- Regulatory AUM
- $23.2M
- AUM share
- 17.5%
- Avg. per client
- $422K
- Clients
- 41
- Regulatory AUM
- $108M
- AUM share
- 81.4%
- Avg. per client
- $2.64M
- Clients
- Fewer than 5
- Regulatory AUM
- $278K
- AUM share
- 0.2%
- Avg. per client
- $278K
- Clients
- Fewer than 5
- Regulatory AUM
- $1.13M
- AUM share
- 0.9%
- Avg. per client
- $1.13M
Total
- Clients
- 98
- Regulatory AUM
- $133M
- AUM share
- 100%
- Avg. per client
- —
- Clients outside the U.S.
- 2%
- Clients advised without assets under management last fiscal year
- 0
- Private funds advised
- 0
- Financial planning clients last fiscal year
- 1–10
Wells Financial Management charges 0.50%–1.25% a year for its Investment Portfolio Management. The fee is billed in advance and is negotiable. The brochure also prices one other service, listed under fee details.
Fee details and sources
Other fees
- Financial Planning Services
- Fixed fee for financial planning, generally $500 to $5,000 depending on scope and complexity; negotiable.
David Wells owns 75% or more of Wells Financial Management. The leadership team of Wells Financial Management includes Chief Compliance Officer David Wells. It has 2 employees, 1 of them in advisory roles.
Leadership
David WellsManaging Member/Chief Compliance Officer
Investment adviser representatives
1 representatives listed in the SEC register as of 9 October 2026.
Staff
- 2 employees
- 1 in advisory functions
- 1 state-registered rep
- Owns 75% or more of Wells Financial Management, LLC
David Wells
Control person · since June 2011
Wells Financial Management’s regulatory assets grew from $117M (May 2022) to $133M (March 2026); clients fell from 106 to 98 and employees were 2 in both filings.
Figures from each annual filing
| Filed | Regulatory AUM | Clients | Employees | Offices |
|---|---|---|---|---|
| March 2026 | $133M | 98 | 2 | 1 |
| February 2025 | $126M | 104 | 2 | 1 |
| February 2024 | $116M | 106 | 2 | 1 |
| March 2023 | $101M | 105 | 2 | 1 |
| May 2022 | $117M | 106 | 2 | 1 |
Besides its headquarters, Wells Financial Management has 0 offices, with 1 listed address in North Carolina.
North Carolina · 1 listed address
- 56 Central Avenue, Suite 105, AshevilleHQ
Contact and registration details
- Legal name
- Wells Financial Management, LLC
- Headquarters
- 56 Central Avenue, Suite 105, Asheville, NC 28801
- Website
- wellsfm.com
- Phone
- 828-252-4144
- @Wells-Financial-Management
- SEC file
- 801-125800
- Structure
- North Carolina LLC
- Fiscal year end
- December
Wells Financial Management uses Charles Schwab ($130M) as custodian for its separately managed accounts. Wells Financial Management has custody of $39.5M in client assets for 46 clients.
- Charles SchwabCharles Schwab & Co., Inc. · San Francisco, CA · $130M100%
At year end, Wells Financial Management’s separately managed accounts were mostly in funds (87%).
What the accounts hold
- Stocks6%
- Funds87%
- Bonds3%
- Cash2%
- Other2%
- Variable annuities2%
How many clients does Wells Financial Management have?
Wells Financial Management has 98 clients and manages $133 million for them, as of March 2026. They include 55 individual clients, 41 high-net-worth individuals and 1 charitable organization.
Source: Form ADV Part 1A, Items 5.D and 5.F, filed 9 March 2026
What services does Wells Financial Management offer?
Wells Financial Management 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
How much does Wells Financial Management charge?
Wells Financial Management charges 0.50%–1.25% a year for its Investment Portfolio Management. The fee is billed in advance and is negotiable.
Which custodians does Wells Financial Management use?
Wells Financial Management’s separately managed account assets are held at Charles Schwab & Co., Inc. (San Francisco, CA), with $130M. Only custodians holding at least a tenth of those assets are named.
Source: Form ADV Part 1A, Schedule D, Section 5.K.(3), filed 9 March 2026
How many financial advisors does Wells Financial Management have?
Wells Financial Management has 1 investment adviser representative registered with state securities authorities, out of 2 employees, and 1 perform investment advisory functions. None are registered representatives of a broker-dealer or 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 Wells Financial Management invest in?
At the end of its last fiscal year, Wells Financial Management’s separately managed accounts held 87% registered funds (mutual funds, ETFs, BDCs), 6% exchange-traded equities, 3% U.S. government and agency bonds, 2% cash and equivalents and 2% other. The 2% other category is described as: Variable Annuities.
Source: Form ADV Part 1A, Items 5.K.(1) and 7.B, from the SEC's 2 October 2026 data file
Who owns Wells Financial Management?
Wells Financial Management’s direct owner is David Wells (75% or more).
Source: Form ADV Part 1A, Schedules A and B, filed 9 March 2026
How does Wells Financial Management get paid?
Wells Financial Management 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
How do I contact Wells Financial Management?
Wells Financial Management’s main office is at 56 Central Avenue, Suite 105, Asheville, NC 28801. Its phone number is 828-252-4144. Its website is wellsfm.com.