DFX Intelligence
RIA Intelligence
Registered investment advisers, the advisors registered through them, the capital they report, the private vehicles they run and the people who own them, as a graph with a filing date behind every number. RAUM is what the adviser filed, a move is two registration dates, and a class is a rule you can read.
SEC-registered adviser
Advocacy Wealth Management, LLC
Latest filing Aug 3, 2026
First filing on the tape Mar 9, 2012 · 77 filings
SEC status approved since Mar 1, 2013
RAUM
$3.2B
reported, Item 5.F
Discretionary
97%
of RAUM
Private clients
85%
$2.7B individuals and HNW
Advisors
30
registered through the firm on IAPD
RAUM per advisor
$108M
derived; firm RAUM over IAPD count
Employees
36
26 advisory (5.B.1)
Offices
5
beyond the principal office
Private funds
0
reported on Schedule D
History
77 filings and snapshots on the tape
RAUM$3.2B as of Aug 3, 2026
Mar 9, 2012$55.0M then
HNW client RAUM$2.3B as of Aug 3, 2026
Mar 20, 2018$408M then
State-registered IARs (5.B.3)18 as of Aug 3, 2026
Mar 31, 20147 then
Employees (5.A)36 as of Aug 3, 2026
Mar 31, 20147 then
Private funds: no history
RAUM +56% over the last fiscal year+38% a year over threeIARs 17 to 18
Practice profile
derived from the filing of Aug 3, 2026; every figure names its basis
Archetypes, each a printed rule
- HNW wealth manager · private-client share of RAUM at least 50 percent and HNW share of private-client RAUM 50 to 90 percent
- RAUM per advisor
- $108MderivedRAUM over IAPD advisors; not a book size
- Clients per advisor
- 55derivedindividual and HNW clients (5.D) over advisors
- Average HNW client
- $3.5MderivedHNW RAUM over HNW clients
- Average account
- $1.5MderivedRAUM over accounts (5.F.2.f)
- Discretionary
- 97%derivedof RAUM
- Institutional
- 11%derivedpensions, charities, corporations, government, insurance, banks, other advisers
- Employees per advisor
- 1.2derivedItem 5.A over advisors
- Advisors per office
- 5.0derived6 offices incl. principal (1.F.5)
- RAUM growth, one year
- +56%derivedbetween the last two annual amendments
- Advisor growth, one year
- +5.9%derivedItem 5.B.3 between annual amendments
- Client growth, one year
- +15%derived
- Compensation
- percentage of assetsreportedItem 5.E
- Advisory activities
- financial planning, portfolio management for individuals, portfolio management for businesses and institutions, selection of other advisersreportedItem 5.G
- Financial planning clients
- 1,500reportedItem 5.H
- Wrap fee program
- participatesreportedItem 5.I
- Custody
- $2.7B, 1,592 clientsreportedItem 9.A
- Ownership
- no PE, bank or public-company owner found on Schedule Aderived
- Firms absorbed, 24 months
- 1derivedhalf or more of a firm's advisors moved here within 14 days
- Advisor book size
- not public; not estimatedreported
Also answered yes on Form ADV
- is an insurance broker or agent (6.A.6)
- buys or sells securities as principal to or from clients (8.A.2)
- has discretionary authority over which securities are bought or sold (8.C.1)
- receives research or other products from a broker-dealer, soft dollars (8.E)
- compensates persons for client referrals (8.G.1)
- compensates non-employees for client referrals (8.G.2)
- has custody of client cash or bank accounts (9.A.1.a)
- has custody of client securities (9.A.1.b)
- a related person has custody of client cash (9.B.1.a)
- a related person has custody of client securities (9.B.1.b)
- a related person acts as qualified custodian (9.D.2)
- marketing includes hypothetical performance (5.L.3)
Where the RAUM sits
Form ADV Item 5.D, latest filing
- High-net-worth individuals$2.3B69%
- Individuals$492M15%
- Charitable organizations$351M11%
- Corporations and businesses$143M4.4%
- Pension and profit-sharing plans$3.6M0.1%
- Individual clients
- 1,009reported
- HNW clients
- 649reported
- Pension plan clients
- 0reported
- Charitable clients
- 14reported
- Accounts
- 2,234reported
- Financial planning clients
- 1,500reported
- Wrap fee programs
- $0 sponsored, $71.8M managedreported
- Custody of client assets
- $2.7B for 1,592 clientsreported
- Compensation
- % of AUMreported
- Class basis
- private_client_share=0.85 fund_share=0.0 institutional_share=0.11 related_bd=false related_bank=false bd_reps=0.0derived
Advisors registered through the firm
30 on IAPD today, longest tenure first
| Name | Branch | Here since | In industry | Prior firms |
|---|---|---|---|---|
| Nesha Pratt Zeigler | Atlanta, Ga | May 30, 2010 | 26 y | 1 |
| Thomas Marion JohnsonCertified Financial Planner | Atlanta, Ga | Mar 12, 2012 | 45 y | 3 |
| Timothy John DenehyCertified Financial Planner | Atlanta, Ga | Apr 18, 2014 | 14 y | 0 |
| John Lowrey StoneCertified Financial Planner | Atlanta, Ga | Jun 22, 2015 | 11 y | 0 |
| Joseph Andrew Havasy | Atlanta, Ga | Apr 24, 2019 | 11 y | 0 |
| Peter Scovill | Columbia, Sc | Dec 17, 2019 | 10 y | 0 |
| Marcy Espinosa Hanson | Atlanta, Ga | Aug 31, 2020 | 11 y | 0 |
| Ryan Michael Vidal | Atlanta, Ga | Nov 12, 2020 | 12 y | 1 |
| Jodi DhollosyCertified Financial Planner | Atlanta, Ga | Nov 9, 2021 | 14 y | 0 |
| Robert Thompson Davis | Hartwell, Ga | Nov 15, 2021 | 12 y | 2 |
| Tracee Wagner | Miami Beach, Fl | Mar 8, 2022 | 24 y | 0 |
| Jordan Thomas Hillyer | Atlanta, Ga | Sep 2, 2022 | 14 y | 0 |
| Jaaziel Mizraim Palacios JaimesChartered Financial Consultant | Atlanta, Ga | Dec 12, 2022 | 10 y | 0 |
| Christopher Jay CowartCertified Financial Planner | Atlanta, Ga | Mar 19, 2024 | 27 y | 6 |
| Tiffany CzajkaCertified Financial Planner | Atlanta, Ga | Mar 19, 2024 | 10 y | 0 |
| Nicolas Jeremy Dykstra | Atlanta, Ga | Apr 5, 2024 | 12 y | 0 |
| Charles Everett MarkwalterChartered Financial Analyst | Atlanta, Ga | Sep 9, 2024 | 27 y | 1 |
| David Lee WatsonChartered Financial Analyst | Ridgeland, Ms | Sep 12, 2024 | 29 y | 1 |
| Kurt Thomas MomandChartered Financial Analyst | Atlanta, Ga | Nov 21, 2024 | 22 y | 1 |
| Rhea Yvonne FearsCertified Financial Planner | Atlanta, Ga | Nov 21, 2024 | 11 y | 2 |
| William Nathan Parkey | Somerset, Ky | Mar 25, 2025 | 15 y | 5 |
| Ava Arjmand | Atlanta, Ga | Oct 27, 2025 | 18 y | 4 |
| Melissa Rojas | Atlanta, Ga | Dec 18, 2025 | 11 y | 0 |
| Harrison Edward Marks | Atlanta, Ga | Jan 29, 2026 | 12 y | 0 |
| Jack David Pennington | Atlanta, Ga | Feb 27, 2026 | 11 y | 1 |
| Tate Maxwell Bielenberg | Atlanta, Ga | Jun 29, 2026 | 10 y | 0 |
| Parker Brooks Manson | Atlanta, Ga | Aug 13, 2026 | 11 y | 2 |
| Nicholas James Taylor | Atlanta, Ga | Aug 25, 2026 | 28 y | 4 |
| Elizabeth Renae Torris | Atlanta, Ga | Aug 25, 2026 | 10 y | 0 |
| Henry Hungerford Spooner PhillipsCertified Financial Planner | Atlanta, Ga | Aug 26, 2026 | 12 y | 0 |
Advisor movement
1 left, 4 joined in 12 months
net +3 in 12 months0 left in 90 days2 joined in 90 daysdeparture rate 3.3% of current headcount3 left over 36 months
Left, latest
- Rush Merrill James to Bison Wealth, LLCNov 18, 2025 · RIA to RIA
- Robert Wright to Schwab Wealth Advisory, Inc.Jun 9, 2025 · Other
- Isis Lashae Waites to Temperance Wealth ManagementSep 11, 2024 · RIA to a state-registered adviser
- Joanna Nineen Amberger to Continuum Advisory, LLCJul 18, 2023 · RIA to RIA
- Justin Christopher Morganti to Cambridge Investment Research Advisors, Inc.Jan 4, 2023 · RIA to affiliated broker-dealer or bank
- Bethany R. Wheeler to Bison Wealth, LLCJul 13, 2022 · RIA to RIA
- Ehijie Mofeolu Sado to EllevestNov 23, 2021 · RIA to RIA
- Jacob Charles Duvall to Bison Wealth, LLCMay 7, 2021 · RIA to RIA
- Jacob Lee Tornow to Bison Wealth, LLCAug 6, 2020 · RIA to RIA
- John Ratchford to Fefa FinancialDec 13, 2019 · RIA to a newly registered adviser
- Anthony William Hosfeld to Osaic Advisory Services, LLCDec 5, 2019 · RIA to affiliated broker-dealer or bank
- Justin Caldwell Boller to Liquid Strategies, LLCJul 18, 2019 · Other
- Robert Thompson Davis to Bison Wealth, LLCJan 22, 2019 · RIA to a newly registered adviser
- Lane Manning Turner to Bison Wealth, LLCJan 22, 2019 · RIA to a newly registered adviser
- Blake Ryan Schaper to Bison Wealth, LLCJan 22, 2019 · RIA to a newly registered adviser
Joined, latest
- Nicholas James Taylor from State Farm Investment Management Corp.Aug 25, 2026 · Other
- Parker Brooks Manson from Austin Wealth Management, LLCAug 13, 2026 · RIA to RIA
- Jack David Pennington from Florida Financial Advisors, LLCFeb 27, 2026 · Affiliated broker-dealer or bank to independent RIA
- Ava Arjmand from Summit Financial, LLCOct 27, 2025 · Affiliated broker-dealer or bank to independent RIA
- Kurt Thomas Momand from Montag & Caldwell, An Advocacy Wealth CompanyNov 21, 2024 · RIA to RIA
- Rhea Yvonne Fears from Morgan StanleyNov 21, 2024 · Wirehouse to independent RIA
- William Nathan Parkey from Meridian Wealth Management, LLCSep 16, 2024 · RIA to RIA
- David Lee Watson from Montag & Caldwell, An Advocacy Wealth CompanySep 12, 2024 · RIA to RIA
- Charles Everett Markwalter from Montag & Caldwell, An Advocacy Wealth CompanySep 9, 2024 · RIA to RIA
- Christopher Jay Cowart from Mccormack Financial Planning Inc.Mar 19, 2024 · Other
- Isis Lashae Waites from Abg Financial Services, Inc.Mar 19, 2024 · Other
- Joanna Nineen Amberger from Signator Investors, Inc.May 11, 2022 · Other
- Robert Wright from E*Trade Capital Management, LLCFeb 1, 2022 · RIA to RIA
- Robert Thompson Davis from Bison Wealth, LLCNov 15, 2021 · RIA to RIA
- Ryan Michael Vidal from Merrill Lynch, Pierce, Fenner & Smith IncorporatedNov 12, 2020 · Wirehouse to independent RIA
Teams: two or more advisors moving together within fourteen days, from one state
- 3 left for Bison Wealth, LLCJan 22, 2019 · Atlanta, Ga
- 3 joined from Montag & Caldwell, An Advocacy Wealth CompanySep 24, 2025 · Atlanta, Ga · Firm absorbed
Private funds
No private fund reported.
Owners and control persons
Schedule A and B, latest filing
- Joseph Jay Butler · Chief Financial Officercontrolsince 01/2026 · owns less than 5%
- John Timothy Denehy · Presidentcontrolsince 08/2020 · owns less than 5%
- Marion Thomas Johnson · Ceo Emerituscontrolsince 01/2026 · owns less than 5%
- Mitchell Rebecca Keister · Chief Compliance Officercontrolsince 08/2024 · owns less than 5%
- Everett Charles Markwalter · Ceocontrolsince 01/2026 · owns less than 5%
- Greene Courtland Phillips · Presidentcontrolsince 01/2026 · owns 10% to 25%
- Hungerford Henry Phillips · Presidentcontrolsince 01/2026 · owns 10% to 25%
- Pratt Nesha Zeigler · Managing Directorcontrolsince 08/2024 · owns less than 5%
- Greene Courtland Phillips · Managing Membercontrolsince 08/2006 · owns 25% to 50% of Forge Consulting LLC
- Hungerford Spooner Henry Phillips · Managing Membercontrolsince 08/2006 · owns 50% to 75% of Forge Consulting LLC
- Lynn Julie Curless · Chief Compliance Officersince 07/2026 · owns less than 5%
Entity owners
- Forge Consulting LLC · Memberdirect · owns 75% or more
- The Forge Companies, LLC · Memberdirect · owns 75% or more
Related persons
Schedule D 7.A
- Abacus Advisorsinsurancen
- Advocacy Trust, LLCcustodiann
- Mack Watkins Insurance Agency Increal estaten
Advisers that list Advocacy Wealth Management, LLC as a related person
- 154306 n
Office movement
IAPD branch city; joins and departures in 12 months
| Office | Advisors | Joined | Left | Teams out | Forming |
|---|---|---|---|---|---|
| Atlanta, Ga · principal | 25 | 9 | 0 | ||
| Savannah, Ga | 0 | 0 | 0 | ||
| St Louis, Mo | 0 | 0 | 1 |
Offices
Schedule D 1.F, the 25 largest
- Atlanta, GA27 employees
- Columbia, SC1 employees
- Enfield, CT1 employees
- Hartwell, GA1 employees
- Mooresville, NC1 employees
ADV anomalies
5 against comparable advisers; where to look, not conclusions
- control person changedChange between filings · filing Aug 3, 2026ZEIGLER, NESHA, PRATT (MANAGING DIRECTOR) left Schedule A between the filings of 2024-09-09 and 2026-08-03peers: independent wealth managers, $1B to $5B (1,360)
- control person changedChange between filings · filing Aug 3, 2026KEISTER, REBECCA, MITCHELL (CHIEF COMPLIANCE OFFICER) left Schedule A between the filings of 2024-09-09 and 2026-08-03peers: independent wealth managers, $1B to $5B (1,360)
- control person changedChange between filings · filing Aug 3, 2026DENEHY, TIMOTHY, JOHN (PRESIDENT) left Schedule A between the filings of 2024-09-09 and 2026-08-03peers: independent wealth managers, $1B to $5B (1,360)
- employee count surgeChange between filings · filing Mar 30, 2026employees (Item 5.A) moved from 24.0 to 36.0 (+50.0%) between the annual amendments of 2025-03-25 and 2026-03-30; the peer median change was +4.0% (1050 comparable advisers, 96.0th percentile of changes)peers: independent wealth managers, $1B to $5B (1,050) · 96% percentile
- RAUM up 50 %Change between filings · filing Mar 30, 2026RAUM (Item 5.F) moved from $2,084,296,352 to $3,244,894,203 (+56.0%) between the annual amendments of 2025-03-25 and 2026-03-30; the peer median change was +17.0% (1297 comparable advisers, 94.0th percentile of changes)peers: independent wealth managers, $1B to $5B (1,297) · 94% percentile
What changed
consecutive filings, newest first
- Accounts · 1,917 to 2,234Feb 26, 2026 to Mar 30, 2026
- Advisory employees · 17 to 26Feb 26, 2026 to Mar 30, 2026
- Charity clients · unset to 14.0Feb 26, 2026 to Mar 30, 2026
- Corporate clients · 41 to 48Feb 26, 2026 to Mar 30, 2026
- HNW clients · 520 to 649Feb 26, 2026 to Mar 30, 2026
- Individual clients · 926 to 1,009Feb 26, 2026 to Mar 30, 2026
- Assets in custody · $2.1B to $2.7BFeb 26, 2026 to Mar 30, 2026
- Employees · 24 to 36Feb 26, 2026 to Mar 30, 2026
- Insurance-licensed employees · 3 to 0Feb 26, 2026 to Mar 30, 2026
- State-registered IARs · 17 to 18Feb 26, 2026 to Mar 30, 2026
- Discretionary RAUM · $2.1B to $3.1BFeb 26, 2026 to Mar 30, 2026
- HNW RAUM · $1.5B to $2.3BFeb 26, 2026 to Mar 30, 2026
- Individual RAUM · $379M to $492MFeb 26, 2026 to Mar 30, 2026
- Non-discretionary RAUM · $15.4M to $106MFeb 26, 2026 to Mar 30, 2026
- Pension RAUM · $0 to $3.6MFeb 26, 2026 to Mar 30, 2026
- RAUM · $2.1B to $3.2BFeb 26, 2026 to Mar 30, 2026
- Wrap assets (manager) · unset to 71786079.0Feb 26, 2026 to Mar 30, 2026
- Wrap assets (sponsor) · unset to 0.0Feb 26, 2026 to Mar 30, 2026
- Accounts · 1,715 to 1,917Dec 13, 2024 to Mar 25, 2025
- Advisory employees · 21 to 17Dec 13, 2024 to Mar 25, 2025
- Corporate clients · unset to 41.0Dec 13, 2024 to Mar 25, 2025
- HNW clients · 448 to 520Dec 13, 2024 to Mar 25, 2025
- Individual clients · 820 to 926Dec 13, 2024 to Mar 25, 2025
- Assets in custody · $1.7B to $2.1BDec 13, 2024 to Mar 25, 2025
- Employees · 30 to 24Dec 13, 2024 to Mar 25, 2025
- Insurance-licensed employees · 1 to 3Dec 13, 2024 to Mar 25, 2025
- Financial planning clients · More than 500 to More than 500Dec 13, 2024 to Mar 25, 2025
- State-registered IARs · 22 to 17Dec 13, 2024 to Mar 25, 2025
- Discretionary RAUM · $1.7B to $2.1BDec 13, 2024 to Mar 25, 2025
- HNW RAUM · $1.3B to $1.5BDec 13, 2024 to Mar 25, 2025
- Individual RAUM · $281M to $379MDec 13, 2024 to Mar 25, 2025
- Non-discretionary RAUM · $16.8M to $15.4MDec 13, 2024 to Mar 25, 2025
- RAUM · $1.7B to $2.1BDec 13, 2024 to Mar 25, 2025
- Other offices · 4 to 5Apr 26, 2024 to Sep 9, 2024
- Discretionary RAUM · $1.2B to $1.7BJan 16, 2024 to Mar 27, 2024
- HNW RAUM · $839M to $1.3BJan 16, 2024 to Mar 27, 2024
- Individual RAUM · $308M to $281MJan 16, 2024 to Mar 27, 2024
- Non-discretionary RAUM · $9.0M to $16.8MJan 16, 2024 to Mar 27, 2024
- RAUM · $1.2B to $1.7BJan 16, 2024 to Mar 27, 2024
- Related insurance company · false to trueJan 16, 2024 to Mar 27, 2024
Signals
18 dated events
- Advocacy Wealth Management, Llc reported RAUM $3.2B, up 56% from $2.1B (2026-02-26 to 2026-03-30)Mar 30, 2026 · RAUM change · derived
- Rush Merrill James left Advocacy Wealth Management, Llc for Bison Wealth, Llc (registered 2026-02-10)Nov 18, 2025 · Advisor changed firm · fact
- Montag & Caldwell, AN Advocacy Wealth Company's advisors moved to Advocacy Wealth Management, LLC (Atlanta, GA): 3 of 3 registered, on the same daySep 24, 2025 · Firm absorbed (people side) · derived
- Robert Wright left Advocacy Wealth Management, Llc for Schwab Wealth Advisory, Inc. (registered 2025-08-20)Jun 9, 2025 · Advisor changed firm · fact
- Michael Jordan Curran no longer registered at Advocacy Wealth Management, Llc; no later IA registration on IAPDSep 30, 2024 · Advisor departure · fact
- Isis Lashae Waites left Advocacy Wealth Management, Llc for Temperance Wealth Management (registered 2025-01-29)Sep 11, 2024 · Advisor changed firm · fact
- Everett Charles Markwalter (Ceo) appeared on Schedule A of Advocacy Wealth Management, LlcSep 9, 2024 · Control person joined · fact
- Pratt Nesha Zeigler (Managing Director) appeared on Schedule A of Advocacy Wealth Management, LlcSep 9, 2024 · Control person joined · fact
- Mitchell Rebecca Keister (Chief Compliance Officer) appeared on Schedule A of Advocacy Wealth Management, LlcSep 9, 2024 · Control person joined · fact
- Advocacy Wealth Management, Llc reported RAUM $1.7B, up 39% from $1.2B (2024-01-16 to 2024-03-27)Mar 27, 2024 · RAUM change · derived
- Joanna Nineen Amberger left Advocacy Wealth Management, Llc for Continuum Advisory, Llc (registered 2026-04-22)Jul 18, 2023 · Advisor changed firm · fact
- Justin Christopher Morganti left Advocacy Wealth Management, Llc for Cambridge Investment Research Advisors, Inc. (registered 2024-10-10)Jan 4, 2023 · Advisor changed firm · fact
- Bethany R. Wheeler left Advocacy Wealth Management, Llc for Bison Wealth, Llc (registered 2023-07-13)Jul 13, 2022 · Advisor changed firm · fact
- Advocacy Wealth Management, Llc reported RAUM $942.3M, up 27% from $744.7M (2020-07-13 to 2021-03-25)Mar 25, 2021 · RAUM change · derived
- John Timothy Denehy (President) appeared on Schedule A of Advocacy Wealth Management, LlcMar 25, 2021 · Control person joined · fact
- Joseph Jay Butler (Chief Operating Officer) appeared on Schedule A of Advocacy Wealth Management, LlcMar 25, 2021 · Control person joined · fact
- Michael David Paventi (Coo) no longer on Schedule A of Advocacy Wealth Management, Llc (listed 2018-12-11, absent 2019-03-27)Mar 27, 2019 · Control person left · inference
- Advocacy Wealth Management Services, Llc filed its initial SEC registration (Form ADV)Feb 20, 2013 · First SEC registration · fact
Across DFX
shared identifiers only, never a name match
No identifier-backed link to the venture, private equity, family office or sponsor graphs.
How to reach
public business contact points only, each with its source
- Business phone
- 404-836-7100reportedpublished by the firm, firm site, Sep 15, 2026
- Business phone
- 800-458-5868reportedpublished by the firm, firm site, Sep 15, 2026
- Website
- montag.comreportedpublic record, Form ADV, Sep 17, 2026
- Principal office phone
- 404.836.7146reportedpublic record, Form ADV, Aug 3, 2026
- Contact form
- montag.com/contact-usreportedpublished by the firm, firm site, Sep 15, 2026
- Team page
- montag.com/our-peoplereportedpublished by the firm, firm site, Sep 15, 2026
Provenance
- Form ADV
- SEC filing data 2011 to 2024 and the monthly roster 2025 onreportedadviserinfo.sec.gov
- Advisors
- IAPD individual compilation feed, dailyreportedadviserinfo.sec.gov
- Class
- Independent wealth managerderiveda rule over Items 5.D and 7.A
- RAUM per advisor
- $108Mderivedfirm RAUM over the IAPD count; not a book size
- Loaded
- Sep 14, 2026