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

Cwa Asset Management Group

Independent wealth managerNaples, FloridaCRD 158940SEC 801-79715websiteIAPD
Legal name Cwa Asset Management Group, LLC
Latest filing Jul 16, 2026
First filing on the tape Apr 30, 2014 · 81 filings
SEC status approved since May 22, 2014
RAUM
$4.5B
reported, Item 5.F
Discretionary
95%
of RAUM
Private clients
94%
$4.3B individuals and HNW
Advisors
50
registered through the firm on IAPD
RAUM per advisor
$90.3M
derived; firm RAUM over IAPD count
Employees
67
35 advisory (5.B.1)
Offices
4
beyond the principal office
Private funds
3
reported on Schedule D
History
81 filings and snapshots on the tape
RAUM$4.5B as of Jul 16, 2026
Feb 23, 2015$249M then
HNW client RAUM$3.9B as of Jul 16, 2026
Mar 29, 2018$680M then
State-registered IARs (5.B.3)40 as of Jul 16, 2026
Feb 23, 20157 then
Employees (5.A)67 as of Jul 16, 2026
Feb 23, 20157 then
Private funds3 as of Jul 16, 2026
Feb 23, 20153 then
RAUM +35% over the last fiscal year+28% a year over threeIARs 37 to 40offices 3 to 4
Practice profile
derived from the filing of Jul 16, 2026; every figure names its basis
Archetypes, each a printed rule
  • Multi-office growth platform · an independent wealth manager (not a wirehouse, national broker-dealer RIA or broker-dealer affiliated firm) with at least five offices, at least 50 advisors, and RAUM up at least 20 percent over the last annual amendment
  • Planning-led practice · financial planning activity (5.G.1), at least 100 financial planning clients (5.H), and hourly, fixed or subscription compensation (5.E)
  • Retirement plan adviser · pension consulting activity (Item 5.G.6) and pension plans at least 25 percent of RAUM or at least 25 pension-plan clients
  • RIA with private funds · a wealth manager (private-client share at least 50 percent) that reports at least one private fund on Schedule D 7.B.(1)
RAUM per advisor
$90.3MderivedRAUM over IAPD advisors; not a book size
Clients per advisor
38derivedindividual and HNW clients (5.D) over advisors
Average HNW client
$4.2MderivedHNW RAUM over HNW clients
Average account
$895,551derivedRAUM over accounts (5.F.2.f)
Discretionary
95%derivedof RAUM
Institutional
3.7%derivedpensions, charities, corporations, government, insurance, banks, other advisers
Employees per advisor
1.3derivedItem 5.A over advisors
Advisors per office
10.0derived5 offices incl. principal (1.F.5)
RAUM growth, one year
+35%derivedbetween the last two annual amendments
Advisor growth, one year
+8.1%derivedItem 5.B.3 between annual amendments
Client growth, one year
+29%derived
Compensation
percentage of assets, fixed fees, performance-basedreportedItem 5.E
Advisory activities
financial planning, portfolio management for individuals, portfolio management for businesses and institutions, portfolio management for pooled vehicles, pension consulting, selection of other advisers, publicationsreportedItem 5.G
Financial planning clients
1,000reportedItem 5.H
Custody
$1.8B, 1,787 clientsreportedItem 9.A
Ownership
no PE, bank or public-company owner found on Schedule Aderived
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)
  • 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)
  • an independent public accountant performs a surprise examination (9.C.1)
  • marketing includes testimonials (5.L.1.c)
  • marketing includes hypothetical performance (5.L.3)
Where the RAUM sits
Form ADV Item 5.D, latest filing
  • High-net-worth individuals$3.9B87%
  • Individuals$347M7.7%
  • Pension and profit-sharing plans$116M2.6%
  • Corporations and businesses$71.5M1.6%
  • Charitable organizations$50.8M1.1%
  • Pooled investment vehicles$23.5M0.5%
Individual clients
952reported
HNW clients
923reported
Pension plan clients
40reported
Charitable clients
15reported
Accounts
5,041reported
Financial planning clients
1,000reported
Wrap fee programs
noreported
Custody of client assets
$1.8B for 1,787 clientsreported
Compensation
% of AUM, fixed, performancereported
Class basis
private_client_share=0.94 fund_share=0.01 institutional_share=0.04 related_bd=false related_bank=false bd_reps=2.0derived
Advisors registered through the firm
50 on IAPD today, longest tenure first
NameBranchHere sinceIn industryPrior firms
Blaine Michael FergusonNaples, FlJan 24, 201221 y7
William Nick BeynonNaples, FlJan 24, 201221 y5
Lewis Mckay JohnsonNaples, FlApr 26, 201314 y1
Matthew James HickeyNaples, FlNov 4, 201321 y3
Philip Rees BrodyNaples, Fl Apr 2, 201421 y2
Shad Mitchell WhiteNaples, FlOct 5, 201615 y1
Colleen Mary MurphyNaples, FlJul 20, 201732 y2
Roxane Kronon GalatiCertified Financial PlannerNaples, FlFeb 13, 201822 y4
Jeffrey Michael GalatiCertified Financial PlannerNaples, FlFeb 13, 201810 y1
Deborah Lynn MinnickCertified Financial PlannerNaples, FlApr 2, 201823 y4
William Harold McclureNaples, FlAug 10, 201811 y0
Joseph Anthony TornincasoNaples, FlSep 10, 201840 y1
Michael Scott MartinCharlotte, Nc Oct 10, 201826 y5
Todd Franklin SampsonNaples, FlNov 7, 201814 y1
James E LoveCertified Financial PlannerNaples, FlDec 11, 201820 y2
Karen Alejandra Vilorio MuchnikNaples, FlFeb 25, 202010 y0
John Petsel FolzChartered Financial AnalystNaples, FlJul 20, 202032 y3
Lori Jeanne TaylorCertified Financial PlannerNaples, Fl Nov 12, 202026 y3
Kimberly Ruth KeyNaples, FlFeb 25, 202124 y4
Tyler Justin KnightNaples, FlSep 29, 202113 y0
Mikaela Elaine HuttonNaples, FlNov 9, 202110 y0
Lane Matthew MccallumOmaha, Ne Mar 21, 202213 y0
Patricia Willis ImperialNashville, Tn Apr 6, 202226 y2
Daniel Baret HowellCertified Financial PlannerNaples, Fl Apr 22, 202219 y2
Drewry IsaacsonCertified Financial PlannerNaples, Fl Jan 6, 202312 y3
Jo Anne KeckNaples, Fl Jan 18, 202315 y1
Thomas George CollinsCertified Financial PlannerNaples, FlJan 19, 202319 y6
Jason Allen BaumCertified Financial Planner, Chartered Financial ConsultantNaples, FlJul 27, 202319 y4
Santiago MosqueraNaples, FlAug 1, 202310 y0
Connor Patrick JoyceSt. Petersburg, Fl Apr 19, 202410 y2
Brian James TolinChartered Financial AnalystNaples, FlAug 12, 202414 y2
Hunter Lindsay GrandNaples, FlOct 29, 202412 y0
Jason Matthew KaplanPittsburgh, Pa Jan 9, 202511 y0
Darian Hong ChenChartered Financial AnalystNaples, FlJan 15, 202526 y4
Zachary Adam CraigJohnstown, Pa Feb 5, 202520 y1
Stephen Gerard EnglishNaples, Fl Mar 8, 202536 y0
Ryan Allan WhartonCertified Financial PlannerNaples, Fl May 30, 202521 y7
Mark Ronald StreyCertified Financial PlannerPewaukee, Wi Sep 7, 202513 y2
Adam Michael HajjarNaples, FlSep 15, 202511 y0
Jason L BotwinickNaples, FlSep 24, 202512 y1
All 50 advisors at Cwa Asset Management Group
Advisor movement
1 left, 4 joined in 12 months
net +3 in 12 months0 left in 90 days0 joined in 90 daysdeparture rate 2.0% of current headcount3 left over 36 months
Left, latest
Joined, latest
Every departureEvery arrival
Teams: two or more advisors moving together within fourteen days, from one state
    Teams outTeams in
    Private funds
    2 reported on Schedule D 7.B.(1)
    FundTypeGross assetsOwnersFirst reported
    Global New Leaders Fund, LP$9.9M9Jul 16, 2026
    Cwa Private Gateway Fund, LP$021Jul 16, 2026
    Owners and control persons
    Schedule A and B, latest filing
    • Nick William Beynon · Managing Membercontrol
      since 08/2011 · owns less than 5%
    • Michael Blaine Ferguson · Managing Member, Chief Operating Officercontrol
      since 08/2011 · owns less than 5%
    • Mckay Lewis Johnson · Managercontrol
      since 01/2021 · owns less than 5%
    • Ruth Kimberly Key · Chief Compliance Officercontrol
      since 01/2021 · owns less than 5%
    • Karl Richard Knepfler · Chief Financial Officercontrol
      since 07/2015 · owns less than 5%
    • Nick William Beynon · Membercontrol
      since 08/2021 · owns 25% to 50% of Cwa Holdings, LLC
    • Michael Blaine Ferguson · Chief Operating Officer, Membercontrol
      since 08/2021 · owns 25% to 50% of Cwa Holdings, LLC
    • Mckay Lewis Johnson · Membercontrol
      since 08/2021 · owns 25% to 50% of Cwa Holdings, LLC
    • Hugh Joseph Moglia · Membercontrol
      since 08/2021 · owns 25% to 50% of Cwa Holdings, LLC
    • Allen George Wilson · Owner/Managercontrol
      since 01/2023 · owns 75% or more of Galleria 104, LLC
    Entity owners
    • Cwa Holdings, LLC · Owner
      direct · owns 75% or more
    • Galleria 104, LLC · Profit Ownership Interest
      direct · owns 5% to 10%
    Related persons
    Schedule D 7.A
    • 5th Avenue Brokerage, LLC
      real estaten
    • Calusa River Capital LLC
      real estaten
    • Capital Wealth Advisors, Inc.
      real estaten
    • Cw Institutional, LLC
      investment advisernRAUM $32.8M
    • Cw Natural Resources, LP
      pooled vehicle sponsorn
    • Cw Special Opportunities Fund, LP
      pooled vehicle sponsorn
    • Cwa Risk Management
      real estaten
    • Liberty Wolfe Enterprises, LLC
      real estaten
    • Sentry Insurance Advisors, LLC
      n
    Advisers that list Cwa Asset Management Group as a related person
    Office movement
    IAPD branch city; joins and departures in 12 months
    OfficeAdvisorsJoinedLeftTeams outForming
    Naples, Fl · principal50131
    Charlotte, Nc410
    Erie, Pa220
    Offices
    Schedule D 1.F, the 25 largest
    • Charlotte, NC5 employees
    • Cary, NC1 employees
    • New Orleans, LA1 employees
    ADV anomalies
    2 against comparable advisers; where to look, not conclusions
    • control person changedChange between filings · filing Jul 16, 2026
      MOGLIA, JOSEPH, HUGH (MEMBER) left Schedule A between the filings of 2024-03-28 and 2026-07-16
      peers: independent wealth managers, $1B to $5B (1,360)
    • control person changedChange between filings · filing Jul 16, 2026
      WILSON, GEORGE, ALLEN (OWNER/MANAGER) left Schedule A between the filings of 2024-03-28 and 2026-07-16
      peers: independent wealth managers, $1B to $5B (1,360)
    How anomalies are measured
    What changed
    consecutive filings, newest first
    • Accounts · 4,702 to 5,041
      Oct 21, 2025 to Mar 31, 2026
    • Advisory employees · 32 to 35
      Oct 21, 2025 to Mar 31, 2026
    • Advisory activities · 6 to 7
      Oct 21, 2025 to Mar 31, 2026
    • BD registered reps · 1 to 2
      Oct 21, 2025 to Mar 31, 2026
    • Charity clients · 18 to 15
      Oct 21, 2025 to Mar 31, 2026
    • Corporate clients · 36 to 43
      Oct 21, 2025 to Mar 31, 2026
    • HNW clients · 932 to 923
      Oct 21, 2025 to Mar 31, 2026
    • Individual clients · 815 to 952
      Oct 21, 2025 to Mar 31, 2026
    • Pension plan clients · 28 to 40
      Oct 21, 2025 to Mar 31, 2026
    • Pooled vehicle clients · 0 to 3
      Oct 21, 2025 to Mar 31, 2026
    • Assets in custody · $1.1B to $1.8B
      Oct 21, 2025 to Mar 31, 2026
    • Employees · 60 to 67
      Oct 21, 2025 to Mar 31, 2026
    • Insurance-licensed employees · 1 to 0
      Oct 21, 2025 to Mar 31, 2026
    • State-registered IARs · 37 to 40
      Oct 21, 2025 to Mar 31, 2026
    • Other offices · 2 to 4
      Oct 21, 2025 to Mar 31, 2026
    • Private funds · 2 to 3
      Oct 21, 2025 to Mar 31, 2026
    • Discretionary RAUM · $3.9B to $4.3B
      Oct 21, 2025 to Mar 31, 2026
    • HNW RAUM · $3.3B to $3.9B
      Oct 21, 2025 to Mar 31, 2026
    • Individual RAUM · $460M to $347M
      Oct 21, 2025 to Mar 31, 2026
    • Non-discretionary RAUM · $187M to $244M
      Oct 21, 2025 to Mar 31, 2026
    • Pension RAUM · $58.1M to $116M
      Oct 21, 2025 to Mar 31, 2026
    • Pooled vehicle RAUM · unset to 23486591.0
      Oct 21, 2025 to Mar 31, 2026
    • RAUM · $4.1B to $4.5B
      Oct 21, 2025 to Mar 31, 2026
    • Related bank · true to false
      Oct 21, 2025 to Mar 31, 2026
    • Accounts · 4,208 to 4,702
      Apr 1, 2025 to Oct 21, 2025
    • Advisory employees · 30 to 32
      Apr 1, 2025 to Oct 21, 2025
    • Charity clients · 15 to 18
      Apr 1, 2025 to Oct 21, 2025
    • Corporate clients · 63 to 36
      Apr 1, 2025 to Oct 21, 2025
    • HNW clients · 676 to 932
      Apr 1, 2025 to Oct 21, 2025
    • Individual clients · 773 to 815
      Apr 1, 2025 to Oct 21, 2025
    • Pension plan clients · 48 to 28
      Apr 1, 2025 to Oct 21, 2025
    • Employees · 52 to 60
      Apr 1, 2025 to Oct 21, 2025
    • Other offices · 3 to 2
      Apr 1, 2025 to Oct 21, 2025
    • Private funds · 1 to 2
      Apr 1, 2025 to Oct 21, 2025
    • Discretionary RAUM · $3.2B to $3.9B
      Apr 1, 2025 to Oct 21, 2025
    • HNW RAUM · $2.8B to $3.3B
      Apr 1, 2025 to Oct 21, 2025
    • Individual RAUM · $345M to $460M
      Apr 1, 2025 to Oct 21, 2025
    • Non-discretionary RAUM · $167M to $187M
      Apr 1, 2025 to Oct 21, 2025
    • Pension RAUM · $49.2M to $58.1M
      Apr 1, 2025 to Oct 21, 2025
    • RAUM · $3.3B to $4.1B
      Apr 1, 2025 to Oct 21, 2025
    Signals
    18 dated events
    • Zev Warren Abraham left Cwa Asset Management Group for Quant Alpha Decisions Llc (registered 2026-02-17)
      Mar 16, 2026 · Advisor changed firm · fact
    • Alexander Ford Bouton left Cwa Asset Management Group for Gyroscope Capital Management Group Llc (registered 2022-07-19)
      Jul 1, 2025 · Advisor changed firm · fact
    • 2 advisors left Bray Capital Advisors, LLC (Naples, FL) for Cwa Asset Management Group on the same day
      May 5, 2025 · Team lift-out · derived
    • Kevin Michael Erndl left Cwa Asset Management Group for Gyroscope Capital Management Group Llc (registered 2022-08-08)
      Apr 30, 2025 · Advisor changed firm · fact
    • Cwa Asset Management Group reported RAUM $3.3B, up 32% from $2.5B (2024-11-08 to 2025-04-01)
      Apr 1, 2025 · RAUM change · derived
    • Cwa Asset Management Group reported 35 state-registered advisory representatives, up from 23 (2023-10-24 to 2024-03-28)
      Mar 28, 2024 · Advisor headcount change · derived
    • Karl Richard Knepfler (Chief Financial Officer) appeared on Schedule A of Cwa Asset Management Group
      Mar 28, 2024 · Control person joined · fact
    • Allen George Wilson (Owner/Manager) appeared on Schedule A of Cwa Asset Management Group
      Mar 28, 2024 · Control person joined · fact
    • Cwa Asset Management Group reported 23 state-registered advisory representatives, down from 35 (2023-01-12 to 2023-03-31)
      Mar 31, 2023 · Advisor headcount change · derived
    • 2 advisors left Cwa Naples, LLC (Naples, FL) for Cwa Asset Management Group on the same day
      Dec 31, 2022 · Team lift-out · derived
    • M Kevin Erndl (Member) no longer on Schedule A of Cwa Asset Management Group (listed 2022-11-02, absent 2022-11-15)
      Nov 15, 2022 · Control person left · inference
    • M Kevin Erndl (Member) appeared on Schedule A of Cwa Asset Management Group
      Mar 29, 2022 · Control person joined · fact
    • Ruth Kimberly Key (Chief Compliance Officer) appeared on Schedule A of Cwa Asset Management Group
      Feb 23, 2021 · Control person joined · fact
    • Kyle Daniel Cerminara (Owner) no longer on Schedule A of Cwa Asset Management Group (listed 2021-01-13, absent 2021-02-23)
      Feb 23, 2021 · Control person left · inference
    • Lance Jeffrey Sutton (Chief Compliance Officer) no longer on Schedule A of Cwa Asset Management Group (listed 2021-01-13, absent 2021-02-23)
      Feb 23, 2021 · Control person left · inference
    • Cwa Asset Management Group reported RAUM $1.6B, up 39% from $1.1B (2019-03-29 to 2020-03-30)
      Mar 30, 2020 · RAUM change · derived
    • Cwa Asset Management Group reported RAUM $982.9M, up 34% from $735.9M (2018-02-12 to 2018-03-29)
      Mar 29, 2018 · RAUM change · derived
    • Cwa Asset Management Group filed its initial SEC registration (Form ADV)
      Apr 30, 2014 · 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 email
    info@cwaturkeydrop.comreportedpublished by the firm, firm site, Sep 17, 2026
    Business phone
    239-434-7434reportedpublished by the firm, firm site, Sep 17, 2026
    Firm profile
    linkedin.com/company/capitalwealthadvisorsreportedpublic record, Form ADV, Sep 17, 2026
    Website
    cwaturkeydrop.comreportedpublic record, Form ADV, Sep 17, 2026
    Principal office phone
    239-434-7434reportedpublic record, Form ADV, Jul 16, 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
    $90.3Mderivedfirm RAUM over the IAPD count; not a book size
    Loaded
    Sep 14, 2026