{"url":"https://nivawealth.com/firms/willow-financial-325785","iapdUrl":"https://adviserinfo.sec.gov/firm/summary/325785","regulatoryAum":127638991,"crd":"325785","adviserRoster":{"asOf":"2026-10-09","items":[{"crd":"7286293","suffix":null,"lastName":"Chowansky","firstName":"Joseph","middleName":"Angelo"},{"crd":"6968144","suffix":null,"lastName":"Derden","firstName":"Madison","middleName":"Elizabeth"},{"crd":"6429605","suffix":null,"lastName":"KAPLER","firstName":"PHILIP","middleName":"A"},{"crd":"5450875","suffix":null,"lastName":"SCHMITT","firstName":"STEVEN","middleName":"MICHAEL"}],"total":4,"loadedAt":"2026-10-10T00:20:19.761928+00:00","sourceUrl":"https://reports.adviserinfo.sec.gov/reports/CompilationReports/IA_INDVL_Feed_10_09_2026.xml.zip"},"history":[{"filedOn":"2023-06-29","regulatoryAum":0,"clients":0,"employees":3,"offices":1},{"filedOn":"2025-03-07","regulatoryAum":110146108,"clients":108,"employees":6,"offices":1},{"filedOn":"2026-06-30","regulatoryAum":127638991,"clients":108,"employees":5,"offices":2}],"secFileNumber":"801-131403","legalName":"Willow Financial LLC","displayName":"Willow Financial","slug":"willow-financial-325785","website":"https://willowfinancialnwa.com/","classification":{"segment":"individuals","segmentLabel":"Wealth management","type":"independent_wealth_manager","typeLabel":"RIA","feeDisclosure":"full"},"linkedinUrl":"https://www.linkedin.com/company/willow-nwa","founded":null,"organization":"Arkansas limited liability company","fiscalYearEnd":"December","headquarters":{"street":"2860 West Walnut Street, Suite 100","city":"Rogers","state":"AR","stateName":"Arkansas","country":"United States","postalCode":"72756"},"tradeNames":["Pathway","Willow"],"registration":{"secApproved":"1 November 2024","noticeFilings":null,"latestNoticeFiling":null},"wealthAumPerClient":1181842.5092592593,"staff":{"employees":5,"advisory":4,"brokerDealerReps":0,"insuranceAgents":0,"promoters":0},"aum":{"regulatory":127638991,"discretionary":127638991,"discretionaryAccounts":358,"nonDiscretionary":0,"nonDiscretionaryAccounts":0,"wrapProgram":null,"nonUsClientsPct":0,"nonAumClients":12},"clientTypes":[{"label":"Individuals (other than HNW)","clients":62,"regulatoryAum":33946207},{"label":"High-net-worth individuals","clients":46,"regulatoryAum":93692784}],"feePrograms":[{"role":"other","program":"Standalone Financial Planning","summary":"Hourly fees of up to $600 per hour, negotiable; up to 50% of the expected fee may be invoiced at signing.","sourceUrl":"https://files.adviserinfo.sec.gov/IAPD/Content/Common/crd_iapd_Brochure.aspx?BRCHR_VRSN_ID=1024577","versionId":1024577,"submittedOn":"2026-03-24","documentName":"WILLOW FINANCIAL DISCLOSURE BROCHURE AND BROCHURE SUPPLEMENTS"}],"brochureCoverage":{"scope":"sec_inventory","status":"reviewed_no_numerical_schedule","checkedAt":"2026-10-22T17:28:11.626811+00:00","documents":[{"name":"WILLOW FINANCIAL DISCLOSURE BROCHURE AND BROCHURE SUPPLEMENTS","status":"read","sourceUrl":"https://files.adviserinfo.sec.gov/IAPD/Content/Common/crd_iapd_Brochure.aspx?BRCHR_VRSN_ID=1024577","versionId":1024577,"submittedOn":"2026-03-24"}]},"custodians":[{"name":"Charles Schwab & Co., Inc.","shortName":"Charles Schwab","location":"Westlake, TX","smaAssets":122478177}],"custodyNote":"Willow Financial has custody of $17M in client assets for 30 clients.","otherCustodians":[],"leadership":[{"name":"Philip Kapler","title":"Member / Principal and Chief Compliance Officer","crd":"6429605"},{"name":"Madison Derden","title":"Member, Financial Advisor","crd":"6968144"},{"name":"Steven Schmitt","title":"Managing Member / Principal","crd":"5450875"}],"ownership":[{"label":"Steven Schmitt","detail":"Managing member / principal in the 50% to 75% ownership band and a control person, since May 2023."},{"label":"Philip Kapler","detail":"Member / principal and chief compliance officer in the 25% to 50% ownership band and a control person, since May 2023."},{"label":"Madison Derden","detail":"Member, financial advisor in the 5% to 10% ownership band and a control person, since January 2025."}],"branchOffices":null,"filedOffices":{"otherThanPrincipal":1,"privateResidences":0},"listedOfficeAddresses":2,"foreignOffices":[],"officesByState":[{"state":"Arkansas","offices":2,"addresses":[{"street":"2860 West Walnut Street, Suite 100","city":"Rogers","headquarters":true},{"street":"3537 N Steele BLVD.","city":"Fayetteville"}]}],"advFacts":{"source":{"file":"ia100226.zip","asOf":"2 October 2026"},"telephone":"479-709-3949","stateRegisteredReps":4,"otherAdviserReps":0,"compensation":["Hourly charges","Fixed fees (other than subscription fees)"],"activities":["Financial planning services","Portfolio management for individuals and/or small businesses","Selection of other advisers (including private fund managers)"],"financialPlanningClients":"11-25","assetMix":[{"label":"Exchange-traded equity securities","percent":82},{"label":"U.S. government/agency bonds","percent":1},{"label":"Securities issued by registered investment companies or business development companies","percent":7},{"label":"Cash and cash equivalents","percent":9},{"label":"Other","percent":1,"detail":"Annuities"}],"privateFunds":0},"sources":{"adv1FilingDate":"30 June 2026","adv1Url":"https://reports.adviserinfo.sec.gov/reports/ADV/325785/PDF/325785.pdf","brochureDate":"24 March 2026","brochureUrl":"https://files.adviserinfo.sec.gov/IAPD/Content/Common/crd_iapd_Brochure.aspx?BRCHR_VRSN_ID=1024577","iapdCompiledDate":null,"retrievedDate":"15 October 2026","retrievedOn":"2026-10-15","updatedOn":"2026-10-22","holdingsUpdatedOn":"2026-10-21","adv1Pages":{},"brochurePages":{}},"otherBusiness":[],"faq":[{"question":"How many clients does Willow Financial have?","answer":"Willow Financial has 108 clients and manages $128 million for them, as of June 2026. They include 62 individual clients and 46 high-net-worth individuals.","source":"Form ADV Part 1A, Items 5.D and 5.F, filed 30 June 2026","sourceRef":{"doc":"adv1","section":"employees"}},{"question":"What services does Willow Financial offer?","answer":"Willow Financial provides financial planning, portfolio management for individuals and small businesses, and 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 Willow Financial use?","answer":"Willow Financial’s separately managed account assets are held at Charles Schwab & Co., Inc. (Westlake, TX), with $122M. Only custodians holding at least a tenth of those assets are named.","source":"Form ADV Part 1A, Schedule D, Section 5.K.(3), filed 30 June 2026","sourceRef":{"doc":"adv1","section":"custodians"}},{"question":"How many financial advisors does Willow Financial have?","answer":"Willow Financial has 4 investment adviser representatives registered with state securities authorities, out of 5 employees, and 4 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","sourceRef":{"doc":"adv1","section":"employees"}},{"question":"What does Willow Financial invest in?","answer":"At the end of its last fiscal year, Willow Financial’s separately managed accounts held 82% exchange-traded equities, 9% cash and equivalents, 7% registered funds (mutual funds, ETFs, BDCs), 1% U.S. government and agency bonds and 1% other. The 1% other category is described as: Annuities.","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 Willow Financial?","answer":"Willow Financial’s direct owners are Steven Schmitt (50% to 75%), Philip Kapler (25% to 50%) and Madison Derden (5% to 10%).","source":"Form ADV Part 1A, Schedules A and B, filed 30 June 2026","sourceRef":{"doc":"adv1","section":"scheduleA"}},{"question":"How does Willow Financial get paid?","answer":"Willow Financial is paid through hourly charges 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","sourceRef":{"doc":"adv1","section":"employees"}},{"question":"How do I contact Willow Financial?","answer":"Willow Financial’s main office is at 2860 West Walnut Street, Suite 100, Rogers, AR 72756. Its phone number is 479-709-3949. Its website is willowfinancialnwa.com.","source":"Form ADV Part 1A, Item 1.F, filed 30 June 2026","sourceRef":{"doc":"adv1","section":"offices"}}],"holdings":{"url":"https://nivawealth.com/firms/willow-financial-325785/holdings","form":"13F-HR","periodOfReport":"2026-03-31","filedOn":"2026-04-21","filingIndexUrl":"https://www.sec.gov/Archives/edgar/data/2077046/000195175726000653/0001951757-26-000653-index.html","totalValue":98699638,"positionCount":37,"top10Share":0.652231703220634,"top10":[{"issuer":"FEDERATED HERMES ETF TRUST","titleOfClass":"US STRATEGIC DIV","cusip":"31423L305","value":8938807,"shares":290221,"shareType":"SH","priorValue":10934914,"priorShares":382206},{"issuer":"TIDAL TRUST I","titleOfClass":"FUNDSTRAT GRANNY","cusip":"886364231","value":8172253,"shares":342365,"shareType":"SH","priorValue":6204336,"priorShares":250579},{"issuer":"WEDBUSH SER TR","titleOfClass":"DAN IVES WEDBUSH","cusip":"947913109","value":7175426,"shares":252923,"shareType":"SH","priorValue":3044138,"priorShares":96303},{"issuer":"THORNBURG ETF TR","titleOfClass":"CORE PLUS BD ETF","cusip":"88521L108","value":6262091,"shares":248384,"shareType":"SH","priorValue":5295986,"priorShares":208012},{"issuer":"TOUCHSTONE ETF TRUST","titleOfClass":"STRATEGIC INCOME","cusip":"89157W202","value":6132265,"shares":239261,"shareType":"SH","priorValue":6208486,"priorShares":239248},{"issuer":"WISDOMTREE TR","titleOfClass":"BIANCO TOTL RETU","cusip":"97717Y451","value":6049048,"shares":239124,"shareType":"SH","priorValue":6216162,"priorShares":244202},{"issuer":"BONDBLOXX ETF TRUST","titleOfClass":"BBB RATED 1 5 YE","cusip":"09789C754","value":5987239,"shares":117064,"shareType":"SH","priorValue":4345221,"priorShares":84406},{"issuer":"JOHN HANCOCK EXCHANGE TRADED","titleOfClass":"DISCIPLINED VAL","cusip":"47804J727","value":5268256,"shares":145826,"shareType":"SH","priorValue":6302567,"priorShares":179152},{"issuer":"DAVIS FUNDAMENTAL ETF TR","titleOfClass":"SELECT FINL","cusip":"23908L108","value":5264709,"shares":117411,"shareType":"SH"},{"issuer":"TEMA ETF TRUST","titleOfClass":"ONCOLOGY ETF","cusip":"87975E701","value":5124939,"shares":139662,"shareType":"SH","priorValue":2440629,"priorShares":70294}],"positionsListed":37,"positions":[{"issuer":"FEDERATED HERMES ETF TRUST","titleOfClass":"US STRATEGIC DIV","cusip":"31423L305","value":8938807,"shares":290221,"shareType":"SH","priorValue":10934914,"priorShares":382206},{"issuer":"TIDAL TRUST I","titleOfClass":"FUNDSTRAT GRANNY","cusip":"886364231","value":8172253,"shares":342365,"shareType":"SH","priorValue":6204336,"priorShares":250579},{"issuer":"WEDBUSH SER TR","titleOfClass":"DAN IVES WEDBUSH","cusip":"947913109","value":7175426,"shares":252923,"shareType":"SH","priorValue":3044138,"priorShares":96303},{"issuer":"THORNBURG ETF TR","titleOfClass":"CORE PLUS BD ETF","cusip":"88521L108","value":6262091,"shares":248384,"shareType":"SH","priorValue":5295986,"priorShares":208012},{"issuer":"TOUCHSTONE ETF TRUST","titleOfClass":"STRATEGIC INCOME","cusip":"89157W202","value":6132265,"shares":239261,"shareType":"SH","priorValue":6208486,"priorShares":239248},{"issuer":"WISDOMTREE TR","titleOfClass":"BIANCO TOTL RETU","cusip":"97717Y451","value":6049048,"shares":239124,"shareType":"SH","priorValue":6216162,"priorShares":244202},{"issuer":"BONDBLOXX ETF TRUST","titleOfClass":"BBB RATED 1 5 YE","cusip":"09789C754","value":5987239,"shares":117064,"shareType":"SH","priorValue":4345221,"priorShares":84406},{"issuer":"JOHN HANCOCK EXCHANGE TRADED","titleOfClass":"DISCIPLINED VAL","cusip":"47804J727","value":5268256,"shares":145826,"shareType":"SH","priorValue":6302567,"priorShares":179152},{"issuer":"DAVIS FUNDAMENTAL ETF TR","titleOfClass":"SELECT FINL","cusip":"23908L108","value":5264709,"shares":117411,"shareType":"SH"},{"issuer":"TEMA ETF TRUST","titleOfClass":"ONCOLOGY ETF","cusip":"87975E701","value":5124939,"shares":139662,"shareType":"SH","priorValue":2440629,"priorShares":70294},{"issuer":"INVESCO EXCHANGE TRADED FD T","titleOfClass":"S&P MDCP QUALITY","cusip":"46137V472","value":5072986,"shares":49076,"shareType":"SH","priorValue":8490106,"priorShares":82895},{"issuer":"DIMENSIONAL ETF TRUST","titleOfClass":"INTL SMALL CAP E","cusip":"25434V773","value":4534339,"shares":134670,"shareType":"SH","priorValue":3975232,"priorShares":120681},{"issuer":"TEMA ETF TRUST","titleOfClass":"ELECTRIFICATION","cusip":"87975E834","value":4022412,"shares":117477,"shareType":"SH","priorValue":2425399,"priorShares":83851},{"issuer":"WALMART INC","titleOfClass":"COM","cusip":"931142103","value":3955211,"shares":31825,"shareType":"SH","priorValue":3334613,"priorShares":29931},{"issuer":"ALPS ETF TR","titleOfClass":"OSHARES US SMLCP","cusip":"00162Q395","value":2812029,"shares":64290,"shareType":"SH","priorValue":5163857,"priorShares":118058},{"issuer":"TEMA ETF TRUST","titleOfClass":"AMERICAN RESH","cusip":"87975E602","value":2243485,"shares":45068,"shareType":"SH","priorValue":2886445,"priorShares":65098},{"issuer":"SPROTT FDS TR","titleOfClass":"SPROTT CRITICAL","cusip":"85208P402","value":1778414,"shares":53761,"shareType":"SH"},{"issuer":"EXXON MOBIL CORP","titleOfClass":"COM","cusip":"30231G102","value":1290434,"shares":7606,"shareType":"SH","priorValue":962840,"priorShares":8001},{"issuer":"VANGUARD INDEX FDS","titleOfClass":"S&P 500 ETF SHS","cusip":"922908363","value":1121601,"shares":1877,"shareType":"SH","priorValue":1164580,"priorShares":1857},{"issuer":"J P MORGAN EXCHANGE TRADED F","titleOfClass":"EQUITY FOCUS ETF","cusip":"46654Q781","value":815326,"shares":11354,"shareType":"SH","priorValue":967346,"priorShares":12952},{"issuer":"VANGUARD INDEX FDS","titleOfClass":"MID CAP ETF","cusip":"922908629","value":773089,"shares":2692,"shareType":"SH","priorValue":781272,"priorShares":2692},{"issuer":"EA SERIES TRUST","titleOfClass":"FREEDOM 100 EM","cusip":"02072L607","value":497424,"shares":9102,"shareType":"SH","priorValue":521980,"priorShares":10181},{"issuer":"APPLE INC","titleOfClass":"COM","cusip":"037833100","value":488800,"shares":1926,"shareType":"SH","priorValue":520068,"priorShares":1913},{"issuer":"ISHARES TR","titleOfClass":"CORE S&P500 ETF","cusip":"464287200","value":476843,"shares":730,"shareType":"SH","priorValue":500006,"priorShares":730},{"issuer":"MICROSOFT CORP","titleOfClass":"COM","cusip":"594918104","value":452718,"shares":1223,"shareType":"SH","priorValue":489907,"priorShares":1013},{"issuer":"NVIDIA CORPORATION","titleOfClass":"COM","cusip":"67066G104","value":441755,"shares":2533,"shareType":"SH"},{"issuer":"J P MORGAN EXCHANGE TRADED F","titleOfClass":"ULTRA SHRT ETF","cusip":"46641Q837","value":440914,"shares":8712,"shareType":"SH","priorValue":3994333,"priorShares":78955},{"issuer":"ALPHABET INC","titleOfClass":"CAP STK CL A","cusip":"02079K305","value":421851,"shares":1467,"shareType":"SH"},{"issuer":"NETFLIX INC.","titleOfClass":"COM","cusip":"64110L106","value":408830,"shares":4252,"shareType":"SH"},{"issuer":"AMAZON COM INC","titleOfClass":"COM","cusip":"023135106","value":391756,"shares":1881,"shareType":"SH"},{"issuer":"VANECK ETF TRUST","titleOfClass":"MRNGSTR WDE MOAT","cusip":"92189F643","value":385350,"shares":3985,"shareType":"SH","priorValue":412687,"priorShares":3985},{"issuer":"AMERICAN EXPRESS CO","titleOfClass":"COM","cusip":"025816109","value":337870,"shares":1117,"shareType":"SH","priorValue":425812,"priorShares":1151},{"issuer":"EDWARDS LIFESCIENCES CORP","titleOfClass":"COM","cusip":"28176E108","value":317037,"shares":3959,"shareType":"SH","priorValue":337505,"priorShares":3959},{"issuer":"GLOBAL X FDS","titleOfClass":"DEFENSE TECH ETF","cusip":"37960A529","value":215566,"shares":3043,"shareType":"SH","priorValue":2153166,"priorShares":33233},{"issuer":"ISHARES SILVER TR","titleOfClass":"ISHARES","cusip":"46428Q109","value":213687,"shares":3136,"shareType":"SH","priorValue":202021,"priorShares":3136},{"issuer":"VANGUARD INDEX FDS","titleOfClass":"SMALL CP ETF","cusip":"922908751","value":210060,"shares":802,"shareType":"SH","priorValue":206876,"priorShares":802},{"issuer":"SPDR GOLD TR","titleOfClass":"GOLD SHS","cusip":"78463V107","value":204818,"shares":476,"shareType":"SH"}]},"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."}