Wealth manager, independent · Naples, FL
CWA Asset Management Group
CWA Asset Management Group, LLC · SEC-registered investment adviser · CRD 158940 · SEC 801-79715
At a glance
CWA Asset Management Group is an SEC-registered investment adviser based in Naples, Florida, with $4.5B in regulatory assets under management as of its Form ADV filed July 16, 2026. It reports 1,875 individual clients, 923 of them high-net-worth, holding an average of about $2.3 million each, and 67 employees. That ranks it 252nd among the nation’s 5,657 independent wealth management RIAs and 11th of 343 in Florida. It reports Charles Schwab as the custodian for its clients’ separately managed accounts.
Main office 239-434-7434cwaturkeydrop.comLinkedInAs filed on Form ADV
- Regulatory AUM
- $4.5B
- Rank among independent wealth managers
- #252 of 5,657
- Rank among all SEC RIAs
- #2,250 of 17,210
- Rank in Florida
- #11 of 343
- Individual clients
- 1,875
- High-net-worth clients
- 923
- Accounts
- 5,041
- Discretionary
- 95% of AUM
- Employees
- 67
- Advisory staff
- 35
- Offices
- 5
Owners and executives on its Form ADV
- Blaine M. FergusonManaging Member, Chief Operating Officer
- William N. BeynonManaging Member
- Kimberly R. KeyChief Compliance Officer
- Lewis M. JohnsonManager
- Richard K. KnepflerChief Financial Officer
Custody and brokerage
Broker-dealer
Hybrid RIA
CWA Asset Management Group is a hybrid RIA: 2 of its employees are also registered representatives of a broker-dealer.
Its Form ADV brochure (filed March 2026) names The Leaders Group, an unaffiliated broker-dealer, as the broker-dealer its advisers are registered with.
lusa River facilitates the purchase of variable annuity products on behalf of CWA clients through a CWA employee who is also a licensed insurance agent and registered representative of an unaffiliated broker dealer, The Leaders Group, Inc.
Who it serves
| Client type | Clients | Regulatory AUM | Share |
|---|---|---|---|
| High-net-worth individuals | 923 | $3.9B | 87% |
| Individuals | 952 | $347M | 8% |
| Pension and profit sharing plans | 40 | $116M | 3% |
| Corporations or other businesses | 43 | $71M | 2% |
| Charitable organizations | 15 | $51M | 1% |
| Pooled investment vehicles | 3 | $23M | <1% |
Private funds
CWA Asset Management Group reports 3 private funds with $24M in gross assets: hedge funds (Form ADV Item 7.B).
Disciplinary disclosures
CWA Asset Management Group 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
- Portfolio management for pooled investment vehicles
- Portfolio management for businesses and institutions
- Pension consulting
- Selecting other advisers
- Periodicals or newsletters
How it’s paid
- A percentage of assets under management
- Fixed fees
- Performance-based fees
Form ADV and brochures on the SEC’s adviser search ↗cwaturkeydrop.com ↗
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- 5 namedLocked
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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 Florida
All of Florida →| Firm | Regulatory AUM | Clients |
|---|---|---|
| Yale Capital Corp.St. Petersburg | $5.6B | 118 |
| GentrustMiami | $5.2B | 264 |
| Moran Wealth Management, LLCNaples | $5.1B | 1,606 |
| Sound Income Strategies, LLCFort Lauderdale | $4.2B | 24,734 |
| Certuity, LLCNorth Palm Beach | $3.3B | 464 |
| Cumberland AdvisorsSarasota | $3.2B | 1,091 |
Background
Questions
How much does CWA Asset Management Group manage?
CWA Asset Management Group reports $4.5B in regulatory assets under management across 5,041 accounts, 95% of it on a discretionary basis, on its Form ADV filed July 16, 2026.
How many clients does CWA Asset Management Group have?
It reports 1,875 individual clients: 923 high-net-worth individuals and 952 other individuals. Individuals account for about 94% of its regulatory assets.
Where is CWA Asset Management Group headquartered?
Its main office is in Naples, Florida. It reports 5 offices in total and 67 employees, 35 of whom perform investment advisory functions.
How does CWA Asset Management Group charge clients?
On Form ADV it lists these forms of compensation: a percentage of assets under management; fixed fees; performance-based fees. Fees and minimums are set out in its Form ADV Part 2A brochure, available on the SEC’s adviser search.
What custodian does CWA Asset Management Group use?
It reports Charles Schwab as the custodian for its clients’ separately managed accounts. On Schedule D of its Form ADV filed July 16, 2026, it reports these amounts held: Charles Schwab ($4.1B). Form ADV lists only custodians holding 10% or more of separately managed account assets.
Is CWA Asset Management Group a hybrid RIA with a broker-dealer?
CWA Asset Management Group is a hybrid RIA: 2 of its employees are also registered representatives of a broker-dealer. Those representatives can also earn commissions on brokerage business through the broker-dealer, where different rules apply than for advisory accounts.
Is CWA Asset Management Group a fiduciary?
As an SEC-registered investment adviser, CWA Asset Management Group owes its advisory clients a fiduciary duty under the Investment Advisers Act of 1940, which includes duties of care and loyalty. 2 of its employees are also registered representatives of a broker-dealer, where different rules apply to brokerage recommendations.
Where these numbers come from
Every figure is CWA Asset Management Group’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 (2026-07-16), 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 →