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RIA comparison · SEC Form ADV

MAI Capital Management, LLC vs CWM, LLC

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

The short answer

MAI Capital Management, LLC is the larger of the two, with $52B in regulatory assets to $51B at CWM, LLC, 3% more than its rival, by their latest Form ADV filings. CWM, LLC reports more individual clients (52,263 vs 15,740), while MAI Capital Management, LLC’s clients hold more on average (about $2.2 million each against $880,000). MAI Capital Management, LLC is based in Cleveland, Ohio and CWM, LLC in Omaha, Nebraska.

FigureMAI Capital Management, LLCCWM, LLC
Regulatory AUM$52B$51B
National rank#21#22
HeadquartersCleveland, OhioOmaha, Nebraska
Individual clients15,74052,263
High-net-worth clients4,9027,231
Average client assets$2.2 million$880,000
Accounts48,547154,206
Discretionary68% of AUM98% of AUM
Employees5621,416
Advisory staff230472
Clients per advisory employee68111
Offices30166
Form ADV filed2026-10-012026-09-30

MAI 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
  • Hourly charges
  • Fixed fees
  • Performance-based fees
  • Other

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

Questions

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

MAI Capital Management, LLC, with $52B in regulatory assets under management against $51B at CWM, LLC. Nationally they rank #21 and #22 among 5,657 independent wealth management RIAs.

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

MAI Capital Management, LLC reports 15,740 individual clients (4,902 high-net-worth) with 230 advisory employees; CWM, LLC reports 52,263 (7,231 high-net-worth) with 472 advisory employees.

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

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

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

MAI 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: MAI Capital Management, LLC ↗, CWM, LLC ↗. How to check a financial advisor →