Wealth manager, independent · Omaha, NE
CWM, LLC
SEC-registered investment adviser · CRD 155344 · SEC 801-72037
At a glance
CWM, LLC is an SEC-registered investment adviser based in Omaha, Nebraska, with $51B in regulatory assets under management as of its Form ADV filed September 30, 2026. It reports 52,263 individual clients, 7,231 of them high-net-worth, holding an average of about $0.9 million each, and 1,416 employees. That ranks it 22nd among the nation’s 5,657 independent wealth management RIAs and 1st of 41 in Nebraska. It reports 2 custodians for its clients’ separately managed accounts: Charles Schwab and Fidelity.
Main office 402-330-0808LinkedInAs filed on Form ADV
- Regulatory AUM
- $51B
- Rank among independent wealth managers
- #22 of 5,657
- Rank among all SEC RIAs
- #424 of 17,210
- Rank in Nebraska
- #1 of 41
- Individual clients
- 52,263
- High-net-worth clients
- 7,231
- Accounts
- 154,206
- Discretionary
- 98% of AUM
- Employees
- 1,416
- Advisory staff
- 472
- Offices
- 166
Owners and executives on its Form ADV
- Omani R. CarsonFounder and Chairman
- George B. WhiteCEO
- Mark D. ApplegarthCFO
- John T. BoyleSVP, RIA Operations
- Lantz G. HuntSVP, Chief Integrations Officer
- Kristin StreffChief Compliance Officer
Custody and brokerage
Broker-dealer
Hybrid RIA
CWM, LLC is a hybrid RIA: 104 of its employees are also registered representatives of a broker-dealer. It names affiliated broker-dealers: Carson Group Brokerage, LLC and Northwest Capital Management Inc.
- Carson Group Brokerage, LLC ↗CRD 293448
- Northwest Capital Management Inc ↗CRD 108091
Its Form ADV brochure (filed September 2026) names Cetera Advisor Networks and Cetera as the broker-dealer its advisers are registered with.
Registered Representative of a Broker/Dealer Some of our investment advisor representatives are also registered representatives of Cetera Advisor Networks, LLC, a securities broker/dealer.
Who it serves
| Client type | Clients | Regulatory AUM | Share |
|---|---|---|---|
| Individuals | 45,032 | $24B | 47% |
| High-net-worth individuals | 7,231 | $22B | 43% |
| Corporations or other businesses | 339 | $2.5B | 5% |
| Pension and profit sharing plans | 67 | $2.3B | 5% |
Disciplinary disclosures
CWM, LLC 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
- Selecting other advisers
- Other services
How it’s paid
- A percentage of assets under management
- Hourly charges
- Fixed fees
- Other
Form ADV and brochures on the SEC’s adviser search ↗
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The full record on CWM, LLC
Ten years of SEC filings, its owners and contacts, and how it stacks up against its peers. Atlas members see all of it.
- Assets, accounts, clients and staff, ten years of filings
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- Growth over one, three and five years
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- Rank against 89 peers of its type and size
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- Owners and executives, with titles and stakes
- 6 namedLocked
- Main office, fax and compliance officer
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- Filing changes this year, with alerts
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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 Nebraska
All of Nebraska →| Firm | Regulatory AUM | Clients |
|---|---|---|
| Ameritas Advisory Services, LLCLincoln | $14B | 29,363 |
| Avior Wealth Management, LLCOmaha | $6.5B | 4,775 |
| Lutz FinancialOmaha | $3.2B | 845 |
| Pittenger & Anderson IncLincoln | $3.0B | 894 |
| Private Wealth Asset ManagementOmaha | $2.5B | 559 |
| Wealthplan Investment Management LLCOmaha | $2.2B | 2,068 |
Compare CWM, LLC with
- CWM, LLC vs Beacon Pointe Advisors, LLC $55B · Newport Beach, CA
- CWM, LLC vs MAI Capital Management, LLC $52B · Cleveland, OH
- CWM, LLC vs Moneta Group Investment Advisors, LLC $51B · St. Louis, MO
- CWM, LLC vs SCS Capital Management LLC $49B · Boston, MA
- CWM, LLC vs Ameritas Advisory Services, LLC $14B · Lincoln, NE
Background
Questions
How much does CWM, LLC manage?
CWM, LLC reports $51B in regulatory assets under management across 154,206 accounts, 98% of it on a discretionary basis, on its Form ADV filed September 30, 2026.
How many clients does CWM, LLC have?
It reports 52,263 individual clients: 7,231 high-net-worth individuals and 45,032 other individuals. Individuals account for about 91% of its regulatory assets.
Where is CWM, LLC headquartered?
Its main office is in Omaha, Nebraska. It reports 166 offices in total and 1,416 employees, 472 of whom perform investment advisory functions.
How does CWM, LLC charge clients?
On Form ADV it lists these forms of compensation: a percentage of assets under management; hourly charges; fixed fees; other. Fees and minimums are set out in its Form ADV Part 2A brochure, available on the SEC’s adviser search.
What custodian does CWM, LLC use?
It reports 2 custodians for its clients’ separately managed accounts: Charles Schwab and Fidelity. On Schedule D of its Form ADV filed September 30, 2026, it reports these amounts held: Charles Schwab ($17B); Fidelity ($7.0B). Form ADV lists only custodians holding 10% or more of separately managed account assets.
Is CWM, LLC a hybrid RIA with a broker-dealer?
CWM, LLC is a hybrid RIA: 104 of its employees are also registered representatives of a broker-dealer. It names affiliated broker-dealers: Carson Group Brokerage, LLC and Northwest Capital Management Inc. Those representatives can also earn commissions on brokerage business through the broker-dealer, where different rules apply than for advisory accounts.
Is CWM, LLC a fiduciary?
As an SEC-registered investment adviser, CWM, LLC owes its advisory clients a fiduciary duty under the Investment Advisers Act of 1940, which includes duties of care and loyalty. 104 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 CWM, LLC’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 (2026-09-30), 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 →