Wealth manager, independent · Cincinnati, OH
HCM Wealth Advisors
Hengehold Capital Management LLC · SEC-registered investment adviser · CRD 107700 · SEC 801-37821
At a glance
HCM Wealth Advisors is an SEC-registered investment adviser based in Cincinnati, Ohio, with $1.2B in regulatory assets under management as of its Form ADV filed March 2, 2026. It reports 850 individual clients, 334 of them high-net-worth, holding an average of about $1.3 million each, and 11 employees. That ranks it 896th among the nation’s 5,657 independent wealth management RIAs and 41st of 226 in Ohio. It reports Charles Schwab as the custodian for its clients’ separately managed accounts.
Main office 513-598-5120hcmwealthadvisors.comLinkedInAs filed on Form ADV
- Regulatory AUM
- $1.2B
- Rank among independent wealth managers
- #896 of 5,657
- Rank among all SEC RIAs
- #4,791 of 17,210
- Rank in Ohio
- #41 of 226
- Individual clients
- 850
- High-net-worth clients
- 334
- Accounts
- 2,964
- Discretionary
- 100% of AUM
- Employees
- 11
- Advisory staff
- 9
- Offices
- 2
Owners and executives on its Form ADV
- Michael T. HengeholdOwner
- Gregory A. MiddendorfOwner
- Jake E. ButcherPresident
- Douglas P. JohnsonChief Compliance Officer
- Steven E. HengeholdOwner
- Casey M. BolandOwner
- James R. EutslerOwner
- Laura R. AdamsOwner
- Matthew N. CalmeOwner
Custody and brokerage
Broker-dealer
No broker-dealer ties
HCM Wealth 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 | 334 | $926M | 75% |
| Individuals | 516 | $188M | 15% |
| Corporations or other businesses | – | $99M | 8% |
| Charitable organizations | – | $17M | 1% |
| Pension and profit sharing plans | – | $0M | <1% |
Disciplinary disclosures
HCM Wealth 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
- Selecting other advisers
- Periodicals or newsletters
- Educational seminars and workshops
How it’s paid
- A percentage of assets under management
- Fixed fees
Form ADV and brochures on the SEC’s adviser search ↗hcmwealthadvisors.com ↗
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The full record on HCM Wealth Advisors
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 2,968 peers of its type and size
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- Owners and executives, with titles and stakes
- 9 namedLocked
- Main office, fax and compliance officer
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- Filing changes this year, with alerts
- 1Locked
Free while Atlas launches: create a free account and confirm your email. Every figure comes from SEC filings.
Similar-size RIAs in Ohio
All of Ohio →| Firm | Regulatory AUM | Clients |
|---|---|---|
| Journey Wealth ManagementCleveland | $1.4B | 862 |
| Capital Advisors, LTD., LLCShaker Heights | $1.4B | 1,058 |
| Wealth Dimensions Group, LTD.Cincinnati | $1.2B | 704 |
| TCP Asset Management, LLCUpper Arlington | $1.2B | 2,221 |
| W.A. Smith Financial GroupSandusky | $1.2B | 1,665 |
| Frazier Financial Advisors, LLCColumbus | $1.2B | 724 |
Background
Questions
How much does HCM Wealth Advisors manage?
HCM Wealth Advisors reports $1.2B in regulatory assets under management across 2,964 accounts, 100% of it on a discretionary basis, on its Form ADV filed March 2, 2026.
How many clients does HCM Wealth Advisors have?
It reports 850 individual clients: 334 high-net-worth individuals and 516 other individuals. Individuals account for about 91% of its regulatory assets.
Where is HCM Wealth Advisors headquartered?
Its main office is in Cincinnati, Ohio. It reports 2 offices in total and 11 employees, 9 of whom perform investment advisory functions.
How does HCM Wealth Advisors charge clients?
On Form ADV it lists these forms of compensation: a percentage of assets under management; fixed fees. Fees and minimums are set out in its Form ADV Part 2A brochure, available on the SEC’s adviser search.
What custodian does HCM Wealth Advisors use?
It reports Charles Schwab as the custodian for its clients’ separately managed accounts. On Schedule D of its Form ADV filed March 2, 2026, it reports these amounts held: Charles Schwab ($1.2B). Form ADV lists only custodians holding 10% or more of separately managed account assets.
Is HCM Wealth Advisors a hybrid RIA with a broker-dealer?
HCM Wealth Advisors reports no employees registered with a broker-dealer and no affiliated broker-dealer.
Is HCM Wealth Advisors a fiduciary?
As an SEC-registered investment adviser, HCM Wealth 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 HCM Wealth 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 (2026-03-02), 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 →