How we ranked
The honest finding: few Nevada offices say anything about DSTs. We checked the homepage, sitemap URLs and 1031 or alternatives pages of the advisors we could verify in Reno, Incline Village and Carson Valley for "DST", "Delaware Statutory Trust" or "1031". Only Mercer's Form ADV names DSTs. RB Capital, Mariner and Carson Wealth publish 1031 pages. GK Wealth Management, Schultz Financial Group and Elevage Partners publish alternatives or exchange-fund content, which is a weaker signal.
Scoring formula
- 15 points, fee model. Fee-only with no commissions scores in full, fee-based with a no-commission statement about half, fees plus commissions or brokerage zero, fee basis not stated one fifth.
- 20 points, disclosures. Zero Item 11 events on the latest Form ADV Part 1 scores in full, one event 40 percent, anything else zero. Branches of broker-dealers score zero because their disclosure counts are firm-wide.
- 20 points, office verification. A street office verified on the firm's own site or branch page scores in full; an office confirmed only through the regulator filing scores about half.
- 10 points, designations. CFP, CRPC, ChFC or RICP named on the site or in the brochure scores in full; CFA or CPA only about half; none named zero.
- 30 points, DST and 1031 evidence. ADV Part 2A names Delaware Statutory Trusts: full. A published 1031 exchange page: two thirds. Only an alternatives or exchange-fund page: about a quarter. Nothing found: zero.
- 5 points, depth. Regulatory AUM of $100 million or more and 100 or more clients scores in full.
Ties break on regulatory AUM. Office is a Nevada street office verified on the firm's site. Google ratings are not used.
Comparison table
All 8 Nevada-office firms, ranked by the formula above.
| Firm | Office | CRD | Registered | Regulatory AUM (ADV filed) | Accounts / clients | Fee model | Minimum | Disclosures | Since | Designations | Score |
|---|---|---|---|---|---|---|---|---|---|---|---|
| 1. Mercer Advisors (Reno) | 5470 Kietzke Lane | 147363 | SEC | $84.4 billion† (2026-09-17) | 116,310 / 36,172 | Advisory fees | Not disclosed | 1 firm-wide | 2008 | CFP and CFA named on firm site | 80.2 |
| 2. RB Capital Management | 5365 Reno Corporate Drive | 125678 | SEC | $931 million (2026-10-02) | 1,534 / 648 | Fee basis not stated in the wrap-program brochure | Not disclosed | 0 | 2003 | CFP, CFA, ChFC and CPA named in ADV 2A | 78.1 |
| 3. Schultz Financial Group | 5190 Neil Road | 108724 | SEC | $215 million (2026-06-16) | 478 / 116 | Fee-only per its own site and ADV 2A | $20,000 minimum annual fee for new clients (ADV 2A) | 0 | 1983 | CPA named in ADV 2A | 73.4 |
| 4. Elevage Partners | 5470 Kietzke Lane | 158386 | SEC | $155 million (2026-03-27) | 790 / 368 | Advisory fees | $5,000 minimum annual fee (ADV 2A) | 0 | 2016 | CFP named on site | 70.3 |
| 5. Carson Wealth (Reno) | 5470 Kietzke Lane | 155344 | SEC | $50.6 billion† (2026-09-30) | 154,206 / 52,669 | Advisory fees | $10,000 to open a managed or wrap account, exceptions possible (ADV 2A) | 0 | 2011 | None named on the Reno page | 65.1 |
| 6. GK Wealth Management | 98 Winter Street | 296847 | SEC | $259 million (2026-08-20) | 1,330 / 534 | Fee-only | No account minimum; $500 per quarter minimum fee under $200,000 (ADV 2A) | 1 | 2023 | No CFP or CFA named on site; ADV 2A names a CPA | 61.4 |
| 7. Mariner Wealth Advisors (Reno) | 5470 Kietzke Lane | 140195 | SEC | $125 billion† (2026-10-02) | 186,791 / 55,512 | Advisory fees | $100,000 minimum for managed accounts (ADV 2A) | Yes, firm-wide | 2006 | CFA, CFP and CPA named on the Reno office page | 55.1 |
| 8. Merrill Lynch Wealth Management (Reno) | 5370 Kietzke Lane | 7691 | SEC | $1782 billion† (2026-09-24) | 3,253,265 / 1,838,984 | Brokerage and advisory fees | Not disclosed | Yes, firm-wide | 1978 | CFP, CRPC and ChFC named on the Reno branch page | 35 |
† Branch or office of a national firm. AUM, accounts, clients, employees and disclosures are for the parent entity named in each firm's Data line, not for the local team.
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1Mercer Advisors (Reno)
National RIA with a Reno office and the only firm checked whose ADV 2A names Delaware Statutory Trusts and Section 721 UPREIT exchanges.
Office: 5470 Kietzke Lane, Suite 300, Reno, NV 89511.
Data: CRD 147363 (Mercer Global Advisors Inc. (national)); SEC-registered, first registration 2008; regulatory AUM $84.4 billion as of ADV filing 2026-09-17; 116,310 accounts, 36,172 clients; 1429 employees, 632 advisory; fee model: Advisory fees; ADV 2A says no commissions on advisory annuities, with insurance-licensed staff; minimum: Not disclosed; disclosure events (Item 11): 1 (firm-wide); designations: CFP and CFA named on firm site.
Best for: sellers who want an RIA whose brochure names DSTs
Profile: See Mercer Advisors on ProCloser, including client reviews
2RB Capital Management
Reno boutique founded in 2000 with the largest local-independent client count in the market (648), and a published plain-English 1031 exchange explainer.
Office: 5365 Reno Corporate Drive, Suite 200, Reno, NV 89511.
Data: CRD 125678; SEC-registered, first registration 2003; regulatory AUM $931 million as of ADV filing 2026-10-02; 1,534 accounts, 648 clients; 16 employees, 14 advisory; fee model: Fee basis not stated in the wrap-program brochure; minimum: Not disclosed; disclosure events (Item 11): 0; designations: CFP, CFA, ChFC and CPA named in ADV 2A.
Best for: owners who want a 1031 explainer from a local firm
Profile: See RB Capital Management on ProCloser, including client reviews
3Schultz Financial Group
Four-person Reno family-office style firm, registered with the SEC since 1983, the longest regulatory history of any local independent here.
Office: 5190 Neil Road, Suite 450, Reno, NV 89502.
Data: CRD 108724; SEC-registered, first registration 1983; regulatory AUM $215 million as of ADV filing 2026-06-16; 478 accounts, 116 clients; 4 employees, 4 advisory; fee model: Fee-only per its own site and ADV 2A; minimum: $20,000 minimum annual fee for new clients (ADV 2A); disclosure events (Item 11): 0; designations: CPA named in ADV 2A.
Best for: commercial real estate owners who want fee-only planning
Profile: See Schultz Financial Group on ProCloser, including client reviews
4Elevage Partners
Reno wealth manager with 790 accounts and a tiered fee that drops to 0.50% above $9 million, which matters for larger families.
Office: 5470 Kietzke Lane, Suite 300, Reno, NV 89511.
Data: CRD 158386; SEC-registered, first registration 2016; regulatory AUM $155 million as of ADV filing 2026-03-27; 790 accounts, 368 clients; 8 employees, 5 advisory; fee model: Advisory fees; ADV 2A discloses insurance commission splits on outside referrals; minimum: $5,000 minimum annual fee (ADV 2A); disclosure events (Item 11): 0; designations: CFP named on site.
Best for: owners who want an alternatives conversation
Profile: See Elevage Partners on ProCloser, including client reviews
5Carson Wealth (Reno)
National RIA that lists its Reno office as by appointment only. Data below is the parent, CWM, LLC.
Office: 5470 Kietzke Lane, Suite 300, Reno, NV 89511.
Data: CRD 155344 (CWM, LLC (Carson Wealth, national)); SEC-registered, first registration 2011; regulatory AUM $50.6 billion as of ADV filing 2026-09-30; 154,206 accounts, 52,669 clients; 1416 employees, 472 advisory; fee model: Advisory fees; ADV 2A discloses insurance and annuity commissions to advisors; minimum: $10,000 to open a managed or wrap account, exceptions possible (ADV 2A); disclosure events (Item 11): 0; designations: None named on the Reno page.
Best for: owners who want a national platform that publishes a 1031 page
Profile: See Carson Wealth on ProCloser, including client reviews
6GK Wealth Management
Reno RIA run as a fee-only fiduciary and the only firm on this list with a regulator-filed disclosure of its own: a 2019 Nevada consent order for heightened supervision, lifted May 2021 per its ADV.
Office: 98 Winter Street, Reno, NV 89503.
Data: CRD 296847; SEC-registered, first registration 2023; regulatory AUM $259 million as of ADV filing 2026-08-20; 1,330 accounts, 534 clients; 5 employees, 5 advisory; fee model: Fee-only; ADV 2A says representatives receive no commissions; minimum: No account minimum; $500 per quarter minimum fee under $200,000 (ADV 2A); disclosure events (Item 11): 1 event: Nevada regulatory action (2019), supervision order lifted 2021; designations: No CFP or CFA named on site; ADV 2A names a CPA.
Best for: owners focused on exchange funds and concentrated positions
Profile: See GK Wealth Management on ProCloser, including client reviews
7Mariner Wealth Advisors (Reno)
National RIA that serves Reno on an appointment-only basis from a shared suite. Data below is the parent, Mariner.
Office: 5470 Kietzke Lane, Suite 300, Reno, NV 89511.
Data: CRD 140195 (Mariner (national)); SEC-registered, first registration 2006; regulatory AUM $125 billion as of ADV filing 2026-10-02; 186,791 accounts, 55,512 clients; 1889 employees, 933 advisory; fee model: Advisory fees; ADV 2A discloses insurance agency commissions; minimum: $100,000 minimum for managed accounts (ADV 2A); disclosure events (Item 11): Yes, firm-wide (IAPD flag Y, count not parsed); designations: CFA, CFP and CPA named on the Reno office page.
Best for: owners who want a national platform that publishes on 1031
Profile: See Mariner Wealth Advisors on ProCloser, including client reviews
8Merrill Lynch Wealth Management (Reno)
The largest wirehouse branch in the market. Data below is the national broker-dealer, Merrill Lynch, Pierce, Fenner & Smith.
Office: 5370 Kietzke Lane, Reno, NV 89511.
Data: CRD 7691 (Merrill Lynch, Pierce, Fenner & Smith Inc. (national)); SEC-registered, first registration 1978; regulatory AUM $1782 billion as of ADV filing 2026-09-24; 3,253,265 accounts, 1,838,984 clients; 32960 employees, 25721 advisory; fee model: Brokerage and advisory fees; minimum: Not disclosed; disclosure events (Item 11): Yes, firm-wide; designations: CFP, CRPC and ChFC named on the Reno branch page.
Best for: owners who already bank with Merrill
Profile: See Merrill Lynch Wealth Management on ProCloser, including client reviews
DST basics
What it is. A DST holds title to property and issues beneficial interests. IRS Revenue Ruling 2004-86 lets a properly structured DST interest count as direct ownership of real estate for a 1031 exchange.
Who can buy. DST interests are securities, generally offered to accredited investors: $200,000 of income ($300,000 joint) or $1 million of net worth excluding the home.
The clock. You have 45 days from closing the sale to identify replacement property and 180 days to close, under Internal Revenue Code section 1031.
No Nevada state tax. Nevada has no state income tax on the gain, per the Nevada Department of Taxation, so the deferral is a federal one.
Specialists without a Nevada office
| Firm | Focus | Nevada office | Form ADV data |
|---|---|---|---|
| Corcapa 1031 Advisors | DST and 1031 advisory; publishes a Nevada page | None found | not disclosed |
| 1031 DST Solution | DST advisory by state | None found | not disclosed |
| Provident 1031 | 1031 exchange advisor | None found | not disclosed |
| Sera Capital | Describes itself as fee-only DST advisor | None found | not disclosed |
These four were named by search results, not ranked, because no Nevada office was verified and no IAPD record could be matched by name.
How to choose
- Ask if they are licensed to sell securities. A DST placement needs a broker-dealer.
- Ask who pays them. Many DST advisors are paid by the sponsor.
- Get the PPM and total fees. Not only the yield.
- Line up a qualified intermediary before you close.
Related guides
- Best financial advisors in Reno. Eleven Reno firms ranked on ADV data for retirement planning.
- Best wealth managers in Lake Tahoe and Incline Village. North Shore and Incline Village firms, with the $2 million portfolio question.
- Best financial advisors in Carson City and Carson Valley. Carson City, Minden and Gardnerville, including who has a real office.
- Best wealth management firms in Reno for high net worth families. Northern Nevada firms ranked on assets per client, with California-to-Nevada and tax questions.
- Wealth managers hub. How wealth management firms win AI search visibility.
- Wealth manager directory. AI visibility directory for wealth management firms.
- All ProCloser rankings. Every guide, by industry.
Frequently asked questions
What is a Delaware Statutory Trust and who can help me invest in one in Nevada?
A Delaware Statutory Trust, or DST, is a legal trust that holds real estate and sells beneficial interests to investors. Under IRS Revenue Ruling 2004-86, an interest in a properly structured DST can be treated as direct ownership of real property, so it can serve as replacement property in a 1031 exchange. You need a securities-licensed advisor to place it, because DST interests are securities generally sold to accredited investors. In Nevada, Mercer Advisors (Reno) is the one firm we checked whose Form ADV names DSTs; RB Capital Management, Mariner and Carson Wealth publish 1031 exchange pages.
I am selling a rental property in Nevada and want to do a 1031 exchange into a Delaware Statutory Trust. Which advisors can help?
Start with Mercer Advisors' Reno office, whose Part 2A names DST 1031 and Section 721 UPREIT strategies, then ask RB Capital Management, Mariner and Carson Wealth whether they place DSTs or only discuss them. You also need a qualified intermediary to hold the sale proceeds; IPX1031 lists a Las Vegas office at 8363 W. Sunset Road. The clock is fixed by the Internal Revenue Code: 45 days to identify replacement property and 180 days to close.
Do I need a DST specialist, or can any financial advisor place one?
Most advisors cannot place DSTs without a broker-dealer affiliation, because the interests are securities. Of the Nevada-office firms we checked, only Mercer's brochure names them, and none of the other seven named DSTs on the homepages, 1031 pages or alternatives pages we read. The national specialists in the table below do this full time but have no Nevada office.
Are there DST sponsors based in Nevada?
Yes. CAI Investments is a Las Vegas real estate firm listed as a DST sponsor on the Realized 1031 marketplace, and KB Exchange Trust lists a Las Vegas headquarters. A sponsor creates the trust; an advisor recommends it. Ask any advisor whether it is paid by the sponsor.
What are the risks of a DST that an advisor should explain?
DST investors are passive, cannot sell on their own timeline, and have no control over the property. Interests are illiquid, distributions are not guaranteed and fees are layered. Mercer's brochure includes a risk discussion for DSTs; ask any firm for the sponsor's private placement memorandum and the total load, not only the headline yield.
Sources
- Mercer Global Advisors Inc.: IAPD firm summary, CRD 147363, Form ADV Part 1 PDF
- Rb Capital Management, Llc: IAPD firm summary, CRD 125678, Form ADV Part 1 PDF
- Schultz Financial Group Incorporated: IAPD firm summary, CRD 108724, Form ADV Part 1 PDF
- Elevage Partners, Llc: IAPD firm summary, CRD 158386, Form ADV Part 1 PDF
- Cwm, Llc: IAPD firm summary, CRD 155344, Form ADV Part 1 PDF
- Gk Wealth Management Llc: IAPD firm summary, CRD 296847, Form ADV Part 1 PDF
- Mariner: IAPD firm summary, CRD 140195, Form ADV Part 1 PDF
- Merrill Lynch, Pierce, Fenner & Smith Incorporated: IAPD firm summary, CRD 7691, Form ADV Part 1 PDF
- Mercer Advisors (Reno) office: https://www.merceradvisors.com/location/reno/
- RB Capital Management office: https://www.rbcapitalmanagement.com/
- Schultz Financial Group office: https://sfginc.com/
- Elevage Partners office: https://www.elevagepartners.com/
- Carson Wealth (Reno) office: https://www.carsonwealth.com/locations/reno-nv-kietzke-ln/
- GK Wealth Management office: https://gkwealthmanagement.com/
- Mariner Wealth Advisors (Reno) office: https://www.marinerwealthadvisors.com/locations/reno-nevada/
- Merrill Lynch Wealth Management (Reno) office: https://advisor.ml.com/sites/nv/reno-nv
- IRS Revenue Ruling 2004-86 (Delaware Statutory Trusts)
- Nevada Department of Taxation
- SEC Investment Adviser Public Disclosure
- FINRA BrokerCheck
- Corcapa, Nevada 1031 advisor page
- IPX1031, Nevada office listing
- Realized 1031, CAI Investments sponsor profile
- CB Insights, KB Exchange Trust
- RB Capital Management, 1031 exchange explainer
Disclosure
ProCloser.ai operates a matching network and may connect people with some of the firms named on this page. ProCloser is not an investment adviser, broker-dealer or financial planner, and nothing here is investment, legal or tax advice. Ranking uses the printed formula and public regulator data only; it does not reflect payment from any firm. Verify any advisor on the SEC's Investment Adviser Public Disclosure site and FINRA BrokerCheck before you sign an agreement. Form ADV figures are self-reported by each firm and change with each filing.