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Est. 2026The front page of wealth managementNew York

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RIA comparison · SEC Form ADV

CWM, LLC vs SCS Capital Management LLC

Two independent wealth managers side by side: assets, clients, staff, services and fees, from each firm’s own filing.

The short answer

CWM, LLC is the larger of the two, with $51B in regulatory assets to $49B at SCS Capital Management LLC, 4% more than its rival, by their latest Form ADV filings. CWM, LLC reports more individual clients (52,263 vs 491), while SCS Capital Management LLC’s clients hold more on average (about $62 million each against $880,000). CWM, LLC is based in Omaha, Nebraska and SCS Capital Management LLC in Boston, Massachusetts.

FigureCWM, LLCSCS Capital Management LLC
Regulatory AUM$51B$49B
National rank#22#24
HeadquartersOmaha, NebraskaBoston, Massachusetts
Individual clients52,263491
High-net-worth clients7,231491
Average client assets$880,000$62 million
Accounts154,206713
Discretionary98% of AUM87% of AUM
Employees1,416213
Advisory staff47299
Clients per advisory employee1115
Offices16613
Form ADV filed2026-09-302026-07-14

CWM, LLC

Full profile →

Services

  • Financial planning
  • Portfolio management for individuals and small businesses
  • Selecting other advisers
  • Other services

How it’s paid

  • A percentage of assets under management
  • Hourly charges
  • Fixed fees
  • Other

SCS Capital Management LLC

Full profile →

Services

  • Financial planning
  • Portfolio management for individuals and small businesses
  • Portfolio management for investment companies
  • Portfolio management for pooled investment vehicles
  • Portfolio management for businesses and institutions
  • Pension consulting
  • Selecting other advisers
  • Other services

How it’s paid

  • A percentage of assets under management
  • Fixed fees
  • Performance-based fees
  • Other

Questions

Which is bigger, CWM, LLC or SCS Capital Management LLC?

CWM, LLC, with $51B in regulatory assets under management against $49B at SCS Capital Management LLC. Nationally they rank #22 and #24 among 5,657 independent wealth management RIAs.

How many clients do CWM, LLC and SCS Capital Management LLC have?

CWM, LLC reports 52,263 individual clients (7,231 high-net-worth) with 472 advisory employees; SCS Capital Management LLC reports 491 (491 high-net-worth) with 99 advisory employees.

How do CWM, LLC and SCS Capital Management LLC charge clients?

Only CWM, LLC lists hourly charges on Form ADV. Only SCS Capital Management LLC lists performance-based fees. Fee schedules and minimums are in each firm’s Form ADV Part 2A brochure.

What services do CWM, LLC and SCS Capital Management LLC offer?

SCS Capital Management LLC lists portfolio management for investment companies; portfolio management for pooled investment vehicles; portfolio management for businesses and institutions; pension consulting, which CWM, LLC does not. Both offer financial planning; portfolio management for individuals and small businesses; selecting other advisers; other services.

More comparisons

Where these numbers come from

Every figure is the firm’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). Average client assets divide the assets held for individual and high-net-worth clients by their number. Ranks compare each firm with all US-based independent wealth management RIAs, the same field as The Largest RIAs. Figures can lag recent deals and market moves.

Not an endorsement or a recommendation of either firm. Before hiring an adviser, read its Form ADV Part 2A brochure and check its record on the SEC’s adviser search: CWM, LLC ↗, SCS Capital Management LLC ↗. How to check a financial advisor →