Wealth manager, independent · LOS Angeles, CA
NWF Advisory Services Inc
SEC-registered investment adviser · CRD 110410 · SEC 801-55681
At a glance
NWF Advisory Services Inc is an SEC-registered investment adviser based in LOS Angeles, California, with $6.4B in regulatory assets under management as of its Form ADV filed March 31, 2026. It reports 11,433 individual clients, 303 of them high-net-worth, holding an average of about $0.6 million each, and 111 employees. That ranks it 164th among the nation’s 5,657 independent wealth management RIAs and 21st of 714 in California. It reports BNY Pershing as the custodian for its clients’ separately managed accounts.
Main office 310-475-5854nwfadvisory.comLinkedInAs filed on Form ADV
- Regulatory AUM
- $6.4B
- Rank among independent wealth managers
- #164 of 5,657
- Rank among all SEC RIAs
- #1,787 of 17,210
- Rank in California
- #21 of 714
- Individual clients
- 11,433
- High-net-worth clients
- 303
- Accounts
- 18,868
- Discretionary
- 59% of AUM
- Employees
- 111
- Advisory staff
- 102
- Offices
- 39
Owners and executives on its Form ADV
- Shehab F. MohammadPresident
- Heather L. ScullyChief Compliance Officer
Custody and brokerage
Broker-dealer
Hybrid RIA
NWF Advisory Services Inc is a hybrid RIA: 111 of its employees are also registered representatives of a broker-dealer.
Its Form ADV brochure (filed March 2026) names Osaic Wealth as the broker-dealer its advisers are registered with.
Members of our Firm may receive commissions as Registered Representatives of Osaic or insurance agents in connection with such transactions.
Who it serves
| Client type | Clients | Regulatory AUM | Share |
|---|---|---|---|
| Individuals | 11,130 | $5.7B | 89% |
| High-net-worth individuals | 303 | $723M | 11% |
Disciplinary disclosures
NWF Advisory Services Inc 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 businesses and institutions
- Pension consulting
- Selecting other advisers
- 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 ↗nwfadvisory.com ↗
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The full record on NWF Advisory Services Inc
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 647 peers of its type and size
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- 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 California
All of California →| Firm | Regulatory AUM | Clients |
|---|---|---|
| Robertson StephensSAN Francisco | $8.8B | 2,236 |
| One Capital Management, LLCWestlake Village | $8.5B | 3,468 |
| Bailard, Inc.Foster City | $7.6B | 1,068 |
| KCM Investment AdvisorsGreenbrae | $6.0B | 1,492 |
| Westmount Partners, LLCLOS Angeles | $5.9B | 1,418 |
| Index Fund Advisors, Inc.Irvine | $5.9B | 2,095 |
Background
Questions
How much does NWF Advisory Services Inc manage?
NWF Advisory Services Inc reports $6.4B in regulatory assets under management across 18,868 accounts, 59% of it on a discretionary basis, on its Form ADV filed March 31, 2026.
How many clients does NWF Advisory Services Inc have?
It reports 11,433 individual clients: 303 high-net-worth individuals and 11,130 other individuals. Individuals account for about 100% of its regulatory assets.
Where is NWF Advisory Services Inc headquartered?
Its main office is in LOS Angeles, California. It reports 39 offices in total and 111 employees, 102 of whom perform investment advisory functions.
How does NWF Advisory Services Inc 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 NWF Advisory Services Inc use?
It reports BNY Pershing as the custodian for its clients’ separately managed accounts. On Schedule D of its Form ADV filed March 31, 2026, it reports these amounts held: BNY Pershing ($6.4B). Form ADV lists only custodians holding 10% or more of separately managed account assets.
Is NWF Advisory Services Inc a hybrid RIA with a broker-dealer?
NWF Advisory Services Inc is a hybrid RIA: 111 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 NWF Advisory Services Inc a fiduciary?
As an SEC-registered investment adviser, NWF Advisory Services Inc owes its advisory clients a fiduciary duty under the Investment Advisers Act of 1940, which includes duties of care and loyalty. 111 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 NWF Advisory Services Inc’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 →