Wealth manager, independent · Columbia, MD
Baltimore-Washington Financial Advisors
Baltimore-Washington Financial Advisors, Inc. · SEC-registered investment adviser · CRD 159388 · SEC 801-76893
At a glance
Baltimore-Washington Financial Advisors is an SEC-registered investment adviser based in Columbia, Maryland, with $3.0B in regulatory assets under management as of its Form ADV filed March 19, 2026. It reports 5,272 individual clients, 872 of them high-net-worth, holding an average of about $0.6 million each, and 36 employees. That ranks it 359th among the nation’s 5,657 independent wealth management RIAs and 9th of 104 in Maryland. It reports Charles Schwab as the custodian for its clients’ separately managed accounts.
Main office 410-461-3900bwfa.comLinkedInAs filed on Form ADV
- Regulatory AUM
- $3.0B
- Rank among independent wealth managers
- #359 of 5,657
- Rank among all SEC RIAs
- #2,840 of 17,210
- Rank in Maryland
- #9 of 104
- Individual clients
- 5,272
- High-net-worth clients
- 872
- Accounts
- 5,301
- Discretionary
- 96% of AUM
- Employees
- 36
- Advisory staff
- 13
- Offices
- 1
Owners and executives on its Form ADV
- Robert G CarpenterPresident & Chief Compliance Officer
- Joseph U ManfrediChief Operating Officer
- Meghan E. ManasDirector, Client Services
Custody and brokerage
Broker-dealer
No broker-dealer ties
Baltimore-Washington Financial Advisors reports no employees registered with a broker-dealer and no affiliated broker-dealer.
Who it serves
| Client type | Clients | Regulatory AUM | Share |
|---|---|---|---|
| High-net-worth individuals | 872 | $2.1B | 69% |
| Individuals | 4,400 | $900M | 30% |
| Charitable organizations | 18 | $21M | <1% |
| Corporations or other businesses | 11 | $2M | <1% |
Disciplinary disclosures
Baltimore-Washington Financial Advisors reports no disciplinary disclosures in Item 11 of Form ADV. Read the details on the SEC’s adviser search ↗
Services
- Financial planning
- Portfolio management for individuals and small businesses
- Educational seminars and workshops
- Other services
How it’s paid
- A percentage of assets under management
- Other
Form ADV and brochures on the SEC’s adviser search ↗bwfa.com ↗
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- Assets, accounts, clients and staff, ten years of filings
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Free while Atlas launches: create a free account and confirm your email. Every figure comes from SEC filings.
Similar-size RIAs in Maryland
All of Maryland →| Firm | Regulatory AUM | Clients |
|---|---|---|
| Prosperity - AN Eisneramper CompanyOwings Mills | $5.0B | 2,369 |
| Heritage Investors Management CorpBethesda | $4.6B | 682 |
| Verdence Capital Advisors, LLCHunt Valley | $4.6B | 1,798 |
| FBB Capital PartnersBethesda | $2.4B | 1,004 |
| Cornerstone AdvisoryHunt Valley | $2.2B | 808 |
| Trumbower Financial Advisors LLCBethesda | $2.0B | 246 |
Background
Questions
How much does Baltimore-Washington Financial Advisors manage?
Baltimore-Washington Financial Advisors reports $3.0B in regulatory assets under management across 5,301 accounts, 96% of it on a discretionary basis, on its Form ADV filed March 19, 2026.
How many clients does Baltimore-Washington Financial Advisors have?
It reports 5,272 individual clients: 872 high-net-worth individuals and 4,400 other individuals. Individuals account for about 99% of its regulatory assets.
Where is Baltimore-Washington Financial Advisors headquartered?
Its main office is in Columbia, Maryland. It reports 1 office in total and 36 employees, 13 of whom perform investment advisory functions.
How does Baltimore-Washington Financial Advisors charge clients?
On Form ADV it lists these forms of compensation: a percentage of assets under management; other. Fees and minimums are set out in its Form ADV Part 2A brochure, available on the SEC’s adviser search.
What custodian does Baltimore-Washington Financial Advisors use?
It reports Charles Schwab as the custodian for its clients’ separately managed accounts. On Schedule D of its Form ADV filed March 19, 2026, it reports these amounts held: Charles Schwab ($2.7B). Form ADV lists only custodians holding 10% or more of separately managed account assets.
Is Baltimore-Washington Financial Advisors a hybrid RIA with a broker-dealer?
Baltimore-Washington Financial Advisors reports no employees registered with a broker-dealer and no affiliated broker-dealer.
Is Baltimore-Washington Financial Advisors a fiduciary?
As an SEC-registered investment adviser, Baltimore-Washington Financial Advisors owes its advisory clients a fiduciary duty under the Investment Advisers Act of 1940, which includes duties of care and loyalty. It reports no employees who are registered representatives of a broker-dealer.
Where these numbers come from
Every figure is Baltimore-Washington Financial Advisors’s own answer on its latest Form ADV, from the SEC’s registered-adviser list as of October 1, 2026: regulatory assets and accounts (Item 5.F), clients by type (5.D), employees (5.A and 5.B), compensation (5.E) and services (5.G). Custodians come from Schedule D 5.K(3) of its latest filing (2026-03-19), which lists those holding 10% or more of separately managed account assets and the amount at each. “Hybrid” means some employees are also registered representatives of a broker-dealer (Item 5.B(2)); affiliated broker-dealers are the related persons it lists in Item 7.A and Schedule D. Firm type comes from its own answers: broker-dealer firms are registered broker-dealers themselves (Item 6.A); private fund advisers manage mostly private funds (Item 7.B, 5.D); wealth managers manage at least half their assets for individuals (5.D). Its national rank compares it with every US-based independent wealth management RIA, the same field as The Largest RIAs. Figures are as of the firm’s last annual update, so they can lag recent deals and market moves. Regulatory AUM counts assets the firm continuously supervises and can differ from what a firm markets.
Not an endorsement or a recommendation. Before hiring any adviser, read its Form ADV Part 2A brochure and check its record on the SEC’s adviser search. How to check a financial advisor →