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Fidelon

Worthnet is a investment adviser based in Baltimore, MD, that has not yet been scored, with 3 registered advisors. Score based on public SEC and FINRA filings.

Not currently
registered

Worthnet

A fee-only investment adviser with a clean regulatory record and fiduciary commitment.

16 W. Madison Street, Baltimore, MD, 21201
667-312-3548Website
Investment AdviserFiduciary
Prep Kit

No longer registered

This firm is no longer registered with the SEC, any state regulator, or FINRA. We don't score firms that are no longer registered.

The firm’s regulatory record stays available below. A firm can stop being registered for many ordinary reasons, including closing, merging, or the owner retiring.

Fidelon Fact Sheet

Worthnet, LLC is a state-registered investment adviser in Baltimore, MD. It has 3 registered advisors. It does not report earning commissions. Its record shows no customer complaints, regulatory actions or fines.

How they're paidNot disclosed in the firm's latest filing.
Not reported
Duty to youLegally required to put your interests first.
Registered adviser · fiduciary
Assets under managementNot reported in the firm's latest filing.
Not reported
Firm size
3 advisors
Who holds your moneyThe firm reports it does not hold client funds.
No custody reported
Regulatory recordNo customer complaints, regulatory actions, or fines on file.
Clean — 0 disclosures
Based on live filings from SEC Form ADV and FINRA BrokerCheck. Scored using Fidelon's published methodology. Data as of Mar 2026

Key Findings

Strengths

  • Fee-only compensation — no commission income reported
  • Registered as investment adviser with fiduciary obligation
  • No broker-dealer registration — advisory services only
  • Clean regulatory record — no disclosures, arbitrations, or fines

Conflict Audit

Conflict AuditCaution

Our analysis identified 1 potential conflict of interest in regulatory filings.

✓
Not registered as broker-dealer
✓
No commission-based compensation
⚠
Receives compensation from sources other than client fees
✓
No related-party custodian
✓
No performance-based fees
✓
No other business lines disclosed

Source: Form ADV Part 1, Items 6-8; Part 2A, Items 10-14

Regulatory Events

Advisor Roster

3 advisors

AdvisorScoreGrade
Joel Daniel Hergenreter——
Alex David Daley——

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Frequently Asked Questions

What does the TransparencyScore measure?

The TransparencyScore measures how clearly and completely an advisor or firm discloses important information in their regulatory filings — things like fees, conflicts of interest, disciplinary history, and business practices. A higher score means better disclosure quality, not better investment performance.

Where does this data come from?

All data comes from public regulatory filings: SEC Form ADV (Parts 1, 2, and 3), FINRA BrokerCheck, and the SEC's Investment Adviser Public Disclosure (IAPD) database. These are official filings that firms and advisors are legally required to submit.

Does a low score mean they're a bad advisor?

Not necessarily. A low score means the firm's public filings are less transparent — they may use vague language about fees, skip details about conflicts, or have a more complex regulatory history. Some excellent advisors work at firms with poor disclosure practices. The score measures the filing, not the person.

How often is this data updated?

Fidelon refreshes data from SEC and FINRA sources on a regular schedule. Form ADV filings are updated annually by firms (with amendments throughout the year), and BrokerCheck data is updated as events are reported. Scores are recalculated after each data refresh.

Can an advisor or firm improve their score?

Yes. Scores are based on what's in public filings. A firm that rewrites its ADV brochure in clearer language, discloses conflicts more specifically, or resolves outstanding regulatory issues will see its score improve at the next refresh. The incentive structure is intentional.

Data Sources

SEC Form ADV Part 1 — Filed Mar 2026SEC Form ADV Part 2ASEC IAPDFINRA BrokerCheck

Scores are generated using Fidelon's published scoring methodology and reflect the quality of public disclosures, not the quality of investment advice. A firm that improves its disclosures will see its score improve. Fidelon does not provide investment advice.

Verify on SEC IAPD

Last scored: · Score version: 3.15 · CRD #333488