Cwm, LLC (Omaha)


Cwm, LLC is a large advisory firm based in Omaha. It manages $7.5 billion of regulatory assets for 41,219 client accounts. It has been registered with the SEC as an adviser since 2010 and has operated in the jurisdictions of Alabama, Alaska, Arizona, and 48 other states.

Cwm provides financial planning services, portfolio management for individuals and small businesses, selection of other advisers, and sub-advisory services for other investment advisory firms. It prepares financial plans for more than 250 clients. On top of advisory services, the firm doesn't engage in other business activities.

Cwm: assets under management

The assets under management (AUM) of Cwm, LLC is $7.5 billion. The firm's AUM has grown by 15650% since the beginning of its operation, and the company doesn't manage any assets belonging to foreign clients.

The firm manages $7.47 billion in discretionary accounts and $28.86 million in non-discretionary accounts. On average, the discretionary accounts where all decisions are made on behalf of the client hold $181.48 thousand each. Non-discretionary accounts, where clients actively manage their portfolios, generally hold around $824.56 thousand.
Cwm has custody of $40.76 million in cash and securities for 85 clients in total but doesn’t act as a qualified custodian.

Investments

The firm invests in investment and business development companies the most. They account for 55% of the total AUM. The second-largest asset type is exchange traded securities, which make up 19% of the firm’s portfolio. Investments in cash and cash equivalents form 10% of the total invested assets.

Fees & Commissions

The advisory firm has several streams of revenue. Clients pay Cwm, LLC for their services and products based on a percentage of assets under management, hourly charges, and fixed fees. Flat-fee based compensation is the most transparent and the one you can safely predict in advance. These fees don’t include brokerage commissions, interest, taxes, and other account expenses.

What kind of clients Cwm serves?

The firm provides services to individuals, insurance companies, high net worth individuals, corporations or other businesses, and pension and profit sharing plans. The largest group of clients of Cwm is high net worth individuals with 1,967 clients and $3.78 billion of assets under management. Among the 9 most similar advisory firms, Cwm has the highest percentage of high net worth individuals out of all clients.

The amount of regulatory assets under management is $7.5 billion for 16,046 clients that can include trusts, estates, and 401(k) plans and IRAs of individuals and their family members. None of the firm’s clients are foreign persons or businesses.

Cwm doesn't advise any private funds.

Careers at Cwm, LLC

The company employs 309 people that are either part- or full-time employees. 72 percent of the employees work as investment advisers or researchers. 244 employees are registered as investment adviser representatives with the state securities authorities.

There are 7 people with the role of looking for and bringing in new clients on behalf of the firm. The firm compensates employees in addition to the salary for bringing in new clients. Employees receive compensation from other entities for client referrals.

Robert Alan Isbitts has served as the Chief Investment Officer since 1 Jan 2011 and Ronald Lloyd Carson is the Chief Executive Officer of Cwm, LLC family office. Inc. Carson Group joined the executive team most recently as the Direct Owner.

Direct owners and executive officers


Name Entity Date acquired Ownership Employer ID
Inc Carson Group Direct owner 1 Oct 2010 75% - 100% 47-0784125
Llc Carson Group Holdings Direct owner 1 Oct 2010 75% - 100% 37-1808406
Bradley Scott Grubb Managing member/chief compliance officer 1 Oct 2010 Other 1732734
Inc. Carson Wealth Management Group Direct owner 1 Oct 2010 75% - 100% 47-0784125
Mtac Direct owner 1 Oct 2010 75% - 100% 47-0784125
Ronald Lloyd Carson Board member/chief executive officer 1 Nov 2010 Other 1238219
Robert Alan Isbitts Chief investment officer 1 Jan 2011 Other 2312302
Christopher Michael Mcmillan Chief compliance officer 1 Feb 2011 Other 4626156
Aaron Eugene Schaben Board member/managing director of strategic opportunities 1 Nov 2011 Other 5156729
William Burt Evans Chief compliance officer 1 Apr 2012 Other 1217563
Teri Sue Shepherd Board member/chief financial officer/chief operating officer/chief compliance officer 1 Jun 2012 Other 4445815
Paul Michael West Board member 1 Jun 2012 Other 3146739
Lance Patrick Simpson Chief compliance officer 1 Jul 2013 Other 5670739
Lantz Guy Hunt Executive vice president - operations 1 Dec 2013 Other 3017958
Steven David Lockshin Board member 1 Jan 2014 Other 1557803
Ruth Annette Howell Chief compliance officer 1 Mar 2014 Other 1255071
Lantz Guy Hunt Executive vice president - operations 1 Apr 2014 Other 3017958
Robert Eugene Moore Board member 1 Mar 2015 Other 4573602
Teri Sue Shepherd Chief compliance officer 1 Mar 2015 Other 4445815
Daniel Patrick Tobin Senior vice president of risk management 1 Oct 2015 Other 3239146
Daniel P Tobin Sr. vp of risk management, chief compliance officer 1 Apr 2017 Other 3239146
Lantz Guy Hunt Chief operations officer 1 Mar 2018 Other 3017958
David Screnar Chief financial officer 1 Mar 2018 Other 6875942

Indirect Owners

The SEC currently registers 3 indirect owners.

Name Entity Date acquired Ownership Employer ID
Ronald Lloyd Carson Principal 1 Dec 1994 75% - 100% 1238219
Mtac Owner 1 Dec 1994 75% - 100% 47-0784125
Inc. Carson Group Direct owner 1 Jul 2019 50% - 75% 47-0784125

Based in Omaha

The principal office where Cwm, LLC performs its advisory services is located at 13321 California Street, Suite 100, Omaha, NE 68154, which is also the mailing address of the firm. An additional office of the firm is in Auburn Hills, MI. It doesn’t run an office outside of the United States.

You can reach the main office by calling the phone number 402-330-0808 or by fax 402-330-1668. The normal business hours are 8:00 am - 5:00 pm on Monday - Friday. You can find more information about the New York firm at petermanfinancialgroup.com.