Wealth manager, independent · New York, NY
Magnus Financial Group LLC
SEC-registered investment adviser · CRD 289423 · SEC 801-111093
At a glance
Magnus Financial Group LLC is an SEC-registered investment adviser based in New York, New York, with $2.3B in regulatory assets under management as of its Form ADV filed March 31, 2026. It reports 1,114 individual clients, 375 of them high-net-worth, holding an average of about $1.9 million each, and 24 employees. That ranks it 480th among the nation’s 5,657 independent wealth management RIAs and 38th of 408 in New York. It reports 2 custodians for its clients’ separately managed accounts: Charles Schwab and Fidelity.
Main office 800-339-1367magnusfinancial.comLinkedInAs filed on Form ADV
- Regulatory AUM
- $2.3B
- Rank among independent wealth managers
- #480 of 5,657
- Rank among all SEC RIAs
- #3,324 of 17,210
- Rank in New York
- #38 of 408
- Individual clients
- 1,114
- High-net-worth clients
- 375
- Accounts
- 4,782
- Discretionary
- 94% of AUM
- Employees
- 24
- Advisory staff
- 15
- Offices
- 1
Owners and executives on its Form ADV
- David H. HarrisonChief Compliance Officer
- Michael S. SchwartzChief Executive Officer
- Louis V. SorsaiaChief Operating Officer
Custody and brokerage
Broker-dealer
No broker-dealer ties
Magnus Financial Group LLC 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 | 375 | $1.8B | 77% |
| Individuals | 739 | $384M | 16% |
| Corporations or other businesses | 44 | $145M | 6% |
| Charitable organizations | – | $15M | <1% |
Disciplinary disclosures
Magnus Financial Group LLC answers yes to 2 disclosure items in Item 11 of Form ADV (criminal, regulatory or civil matters involving the firm or its advisory affiliates). Read the details on the SEC’s adviser search ↗
Services
- Financial planning
- Portfolio management for individuals and small businesses
- Pension consulting
- Selecting other advisers
- Periodicals or newsletters
- Educational seminars and workshops
How it’s paid
- A percentage of assets under management
- Hourly charges
- Fixed fees
Form ADV and brochures on the SEC’s adviser search ↗magnusfinancial.com ↗
AtlasMembers
The full record on Magnus Financial Group 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, 8 years of filings
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- Growth over one, three and five years
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- Rank against 1,725 peers of its type and size
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- Owners and executives, with titles and stakes
- 3 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 New York
All of New York →| Firm | Regulatory AUM | Clients |
|---|---|---|
| LVW Advisors, LLCPittsford | $2.5B | 493 |
| Shufro, Rose & Co., LLCNew York | $2.5B | 1,207 |
| Howe and Rusling, Inc.Rochester | $2.4B | 1,351 |
| United Asset Strategies Inc.Garden City | $2.2B | 1,577 |
| Next Capital Management LLCNew York | $2.1B | 257 |
| Vanderbilt Advisory ServicesWoodbury | $2.1B | 6,199 |
Background
Questions
How much does Magnus Financial Group LLC manage?
Magnus Financial Group LLC reports $2.3B in regulatory assets under management across 4,782 accounts, 94% of it on a discretionary basis, on its Form ADV filed March 31, 2026.
How many clients does Magnus Financial Group LLC have?
It reports 1,114 individual clients: 375 high-net-worth individuals and 739 other individuals. Individuals account for about 93% of its regulatory assets.
Where is Magnus Financial Group LLC headquartered?
Its main office is in New York, New York. It reports 1 office in total and 24 employees, 15 of whom perform investment advisory functions.
How does Magnus Financial Group LLC charge clients?
On Form ADV it lists these forms of compensation: a percentage of assets under management; hourly charges; 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 Magnus Financial Group LLC use?
It reports 2 custodians for its clients’ separately managed accounts: Charles Schwab and Fidelity. On Schedule D of its Form ADV filed March 31, 2026, it reports these amounts held: Charles Schwab ($1.4B); Fidelity ($685M). Form ADV lists only custodians holding 10% or more of separately managed account assets.
Is Magnus Financial Group LLC a hybrid RIA with a broker-dealer?
Magnus Financial Group LLC reports no employees registered with a broker-dealer and no affiliated broker-dealer.
Is Magnus Financial Group LLC a fiduciary?
As an SEC-registered investment adviser, Magnus Financial Group LLC 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 Magnus Financial Group 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 (2026-03-31), 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 →