Financial Management Network Inc
SEC-registered
Insurance-Affiliated · Mid-sized ($1B–$10B)
CRD 110454
· SEC file 801-40473
· Mission Viejo, CA
· WWW.FMNBENEFITS.COM
☆ Save with Pro
ADV data as of Dec 19, 2025
- Regulatory AUM
- $2.1B
- Discretionary
- $1.6B
- Clients
- 1,528
- Avg AUM / client
- $1.4M
- Accounts
- 4,474
- Employees
- 50
AUM over time
$410M
$2.1B
May 2012
Sep 2025
Annual snapshots from Form ADV filings · as of Dec 19, 2025
Who they serve
| Client type | Clients | AUM | % of AUM |
|---|---|---|---|
| Individuals (non-high net worth) | 919 | $261M | 12.2% |
| High net worth individuals | 460 | $1.3B | 58.9% |
| Banking or thrift institutions | 0 | $0 | — |
| Pension and profit sharing plans | 131 | $598M | 27.9% |
| Charitable organizations | 0 | — | — |
| State or municipal government entities | 0 | $0 | — |
| Other investment advisers | 0 | $0 | — |
| Insurance companies | 7 | $14.9M | 0.7% |
| Sovereign wealth funds and foreign official institutions | 0 | — | — |
| Corporations and other businesses | 11 | $6.2M | 0.29% |
Retirement plan clients
Plans that reported this firm as an investment service provider on Form 5500 Schedule C.
| Plan | Location | Plan year |
|---|---|---|
| Metro Automotive Group 401(k) Retirement Savings Plan Metro Motors, Llc | 2024 | |
| Scpmg Keogh Plan Southern California Permanente Medical Group | 2024 | |
| Imi 401(k) Plan Imi Americas Llc. | 2024 | |
| Kingman Healthcare, Inc. 403(b) Retirement Plan Kingman Healthcare, Inc. | 2024 |
People (22)
roster as of Jul 20, 2026| Name | Role / title | Credentials | With firm since | Ownership |
|---|---|---|---|---|
| Matthew Scott Merwin | Managing Partner / Advisory Board Member | CFP | Feb 1992 (34y) | Less than 5% |
| Merwin, Kathy, Jane | Trustee | Apr 2001 (25y) | ≈ 5% – 18.75% via Merwin Family Trust Dated April 5, 2001 | |
| Jeffrey George Merwin | Managing Partner/Ttee"/Chief Compliance Officer | Nov 2013 (13y) | Less than 5% | |
| Matthew Michael Merwin | Managing Partner/Trustee | CFP | Nov 2016 (10y) | Less than 5% |
| John J Merwin | Trustee | Dec 2021 (5y) | Less than 5% | |
| Curtis Steven Farrell | Registered representative | CFP | Jul 1997 (29y) | |
| Mark Forrest Donahue | Registered representative | CFP Chartered Financial Consultant | Dec 1997 (29y) | |
| Lisa Lynn Banning | Registered representative | Oct 2004 (22y) | ||
| Richard James Rang | Registered representative | CFP | Oct 2004 (22y) | |
| Kevin Lee Darger | Registered representative | Apr 2006 (20y) | ||
| Tracy Reinhold Olson | Registered representative | Dec 2007 (19y) | ||
| Matthew Scott Conner | Registered representative | CFP | Oct 2008 (18y) | |
| Joseph Anthony Cavallo | Registered representative | May 2009 (17y) | ||
| Jeffrey Macdonald Holt | Registered representative | Nov 2009 (17y) | ||
| Steve James Friedman | Registered representative | Jul 2011 (15y) | ||
| Aran Garis Sahagun | Registered representative | Apr 2017 (9y) | ||
| John Michael Randall | Registered representative | Jul 2019 (7y) | ||
| Matthew Aaron Jordan | Registered representative | CFP | Sep 2020 (6y) | |
| Nicholas Joseph Cavallo | Registered representative | Nov 2020 (6y) | ||
| Joshua David Valdivia | Registered representative | CFP | Jul 2021 (5y) | |
| Jeffrey David Stanga | Registered representative | May 2022 (4y) | ||
| Brandon Charles Decapite | Registered representative | Jan 2025 (2y) |
Entity owners (Schedule A/B)
| Entity | Title / status | Since | Sch. | Ownership |
|---|---|---|---|---|
| Jeffrey G Merwin Irrevocable Trust, Dated December 29, 2021 | Trust | Dec 2021 | A | 25% – 50% |
| Matthew M. Merwin Irrevocable Trust Dated December 28, 2021 | Trust | Dec 2021 | A | 25% – 50% |
| Merwin Family Trust Dated April 5, 2001 | Trust | Dec 2021 | A | 10% – 25% |
| Fmn Esop Utd 09/22/2006 | Trust | Mar 2008 | A | 10% – 25% |
| John J Merwin Irrevocable Trust, Dated December 28, 2021 | Trust | Dec 2021 | A | Less than 5% |
Undisclosed: 0% – 30% of the firm is not attributable from the filed Schedule A bands.
Estimated effective ownership (look-through of filed bands):
- Merwin, Kathy, Jane: 50% – 75% of Merwin Family Trust Dated April 5, 2001 × 10% – 25% direct ≈ 5% – 18.75% of the firm
Roster from the IAPD representatives feed; ownership and acquisition dates from Form ADV Schedule A/B. "Since" is the earliest filed registration or acquisition date.
Retirement plans served (4)
| Plan | Sponsor | Participants | Plan assets | As of |
|---|---|---|---|---|
| Metro Automotive Group 401(k) Retirement Savings Plan | Metro Motors, Llc | 126 | $4.8M | 01/01/2024 |
| Scpmg Keogh Plan | Southern California Permanente Medical Group | 11,088 | $7.9B | 01/01/2024 |
| Imi 401(k) Plan | Imi Americas Llc. | 1,547 | $313M | 01/01/2024 |
| Kingman Healthcare, Inc. 403(b) Retirement Plan | Kingman Healthcare, Inc. | 1,932 | $114M | 01/01/2024 |
From Form 5500 service-provider disclosures.
Documents (1 archived)
| Form | Period | Size | |
|---|---|---|---|
| Form ADV (full filing) | 12/19/2025 | 1.04 MB | View · PDF · Source ↗ |
Archived copies of the firm's regulatory filings, versioned by content hash.
Disciplinary disclosures
No disciplinary events reported on the firm's latest Form ADV filing.
How they charge
- • Percentage of assets under management
- • Hourly charges
- • Fixed fees
- • Other fees
- • QUARTERLY FEES
Services
- • Financial planning services
- • Portfolio management for individuals/small businesses
- • Portfolio management for businesses/institutional clients
- • Pension consulting services
Custody
Reported custodians
- National Financial Services (Fidelity) $1.4B (65% of AUM) Dec 2025
- Charles Schwab & Co. $78.7M (11% of AUM) May 2019
- Fidelity Brokerage Services $14.0M (2% of AUM) May 2019
Amounts as reported in ADV Item 5.K.(3) (custodians holding 10%+ of SMA assets).
Firm reports it does not have custody of client funds or securities (Item 9.A).
Source
All data on this page comes from this firm's Form ADV filings, reproduced without modification. Latest filing: Dec 19, 2025.
View current Form ADV (SEC/IAPD) ↗