AMERICAN WEALTH MANAGEMENT, INC.

3480 Preston Ridge Road Suite 500 Alpharetta, Georgia 30005 770-392-8741 gavinborzello@awminc.biz Form ADV Part IIA - Brochure October 1st, 2025 This brochure provides information about the qualifications and business practices of AMERICAN WEALTH MANAGEMENT, INC. (AWM) CRD# 25536 SEC# 801-66163 If you have any questions about the contents of this Brochure, please contact us at 770-392-8741 or gavinborzello@awminc.biz The information in this Brochure has not been approved or verified by the United States Securities and Exchange Commission or by any state securities authority. AMERICAN WEALTH MANAGEMENT, INC is a Registered Investment Adviser. Registration of an Investment Adviser does not imply any level of skill or training. Additional information about AMERICAN WEALTH MANAGEMENT, INC is available on the SEC’s website at www.adviserinfo.sec.gov 1 | P a g e ADV Part II 10-01-2025  Item 2- Material Changes This item will discuss only specific material changes that are made to the Brochure and provide clients with a summary of such changes. The last update to the Brochure was on 3/28/2024. Pursuant to SEC Rules, we will ensure that you receive a summary of any material changes to this and subsequent Brochures within 120 days of the close of our business fiscal year and within 60 days of any substantive change to the firm or the information contained in the current Brochure. Each client will receive a new Brochure as necessary based on changes or new information, or clients may request one at any time, without charge. Our Brochure may be requested by contacting Gavin M Borzello, President at 770392-8740 or gavinborzello@awminc.biz. Our Brochure can also be downloaded through our website www.awminc.biz, also free of charge. Additional information about AMERICAN WEALTH MANAGEMENT, INC. is also available via the SEC’s website www.adviserinfo.sec.gov. The SEC’s website also provides information about any persons affiliated with AMERICAN WEALTH MANAGEMENT, INC. who are registered, or are required to be registered, as Investment Adviser Representatives (IAR) of AMERICAN WEALTH MANAGEMENT, INC. Summary of Material Changes: • On March 27, 2025, Gavin Borzello became the sole owner of American Wealth Management, Inc. From September 2024 through the transfer of ownership, he served in an interim capacity as President and Chief Compliance Officer to support the firm’s transition. • Updated Client Relationship Summary (FORM CRS) September 26, 2024. This summary highlights the material changes made to our Client Relationship Summary (Form CRS) since our last filing dated May 18, 2023. Clients receive this summary to ensure transparency regarding the services we provide, fees and costs, conflicts of interest. • American Wealth Management, Inc. ceased offering brokerage services as of and now operates solely as an SEC-registered investment adviser. All references to brokerage services, transaction-based fees, and Regulation Best Interest (Reg BI) have been removed. 2 | P a g e ADV Part II 10-01-2025  “Updated (FORM CRS) Cont. “ • The section “What investment services and advice can you provide me?” was updated to describe only advisory services, with clarification of discretionary and non-discretionary account management and our ongoing account monitoring responsibilities. • The section ‘What fees will I pay?’ was revised to remove brokerage commission disclosures and to clarify the advisory fee structure, including assets under management (AUM) fees and wrap fee program features. • Conflicts of interest and standards of conduct disclosures were updated to reflect an adviser- only model, with broker-dealer specific examples removed. • Conversation starter questions and references were updated for clarity and to align with the adviser-only relationship summary. • In accordance with the General Instructions for Form CRS (Instruction 1.B.), Items 3.A. (‘What investment services and advice can you provide me?’) and 3.B. (‘What fees will I pay?’) were revised to reflect our adviser-only business model. Brokerage services, transaction-based fees, and Reg BI references were removed in compliance with SEC disclosure requirements. 3 | P a g e ADV Part II 10-01-2025  Item 3- Table of Contents Item 1- Cover Page ................................................................................................................... 1 Item 2- Material Changes ......................................................................................................... 2-3 Item 3- Table of Contents ......................................................................................................... 4 Item 4- Advisory Business ....................................................................................................... 5 Item 5- Fees and Compensation ............................................................................................... 5-6 Item 6- Performance- Based Fees and Side-By-Side Management ......................................... 7 Item 7- Types of Clients ........................................................................................................... 7 Item 8- Methods of Analysis, Investment Strategies and Investment Risk .............................. 7 Item 9- Disciplinary Information ............................................................................................. 7-8 Item 10- Other Financial Industry Activities and Affiliations ................................................. 8 Item 11- Code of Ethics............................................................................................................ 8 Item 12- Brokerage Practices ................................................................................................... 9 Item 13- Review of Accounts ................................................................................................... 9 Item 14- Client Referrals and Other Compensation ................................................................. 9 Item 15- Custody ...................................................................................................................... 9-10 Item 16- Investment Discretion ................................................................................................ 10 Item 17- Financial Planning Fees ............................................................................................. 10 Item 18- Voting Client Securities ............................................................................................. 10 Item 19- Requirements for State- Registered Advisers ............................................................ 10 4 | P a g e ADV Part II 10-01-2025  Item 4- Advisory Business The Registrant, AMERICAN WEALTH MANAGEMENT, INC. (AWM), provides comprehensive advisory services for its clients. On March 27, 2025, Gavin M. Borzello became the sole owner of AWM following a transitional period (September 2024 through March 2025) during which he assumed increasing responsibility for management decisions in preparation for succeeding Jerry Borzello, who was serving as President and CCO at the time. AWM was registered as an advisory firm with the SEC in 1994. AWM may provide any number of advisory services including, but not limited to, asset management, portfolio analysis, asset allocation and financial planning. AWM assists clients in striving to achieve their individual investment objectives in a cost-effective manner from either a tactical and strategic strategy over an entire market cycle or cycles. To this end, AWM is committed to a fee-only approach for advisory services. AWM participates in two wrap fee programs (the Ambassador and Opportunity Accounts) offered through the Firm’s clearing firm Raymond James and Associates. With the wrap fee account the expenses to the client are all inclusive and AWM gets a portion of the total fee charged to the client. With all other AWM Fee accounts the firm receives a fee agreed upon in the client’s fee agreement Schedule “A”. All other expenses are separately charged to the client. [See Item 5- Fees and Compensation for other expenses] AWM also manages accounts and portfolios through their Independent Advisory Accounts. These are managed by the advisor through discretion or non-discretionary and are billed by the reps at an agreed upon annual fee rate charged quarterly. These are offered for both Schwab and Raymond James advisory accounts. As of September 2025, AWM managed approximately $272,680,00.00 in client assets on a discretionary basis and $37,200,000.00 on a non-discretionary basis in 1,220 accounts. Item 5- Fees and Compensation AWM is compensated for advisory services on a fee basis based on the total value of the assets under management at the start of the contract period pro rata based on the number of days remaining in the current quarter. Thereafter, the fee is based on the total value of the assets at the end of the previous quarter of the contract period (excluding any exempt assets). Fee Schedule “A” is part of the ADV and states the Firm’s fee schedule. AWM’s basic fee structure for all managed accounts range from ~1% to 2% annual fee paid quarterly of the account value at the end of the quarter. Fees are negotiable depending upon the scope and complexity of the circumstances of each client. Raymond James custodied accounts that are a part of the 5 | P a g e ADV Part II 10-01-2025  independently managed AWM accounts do incur custodial transaction costs that may or may not be absorbed by the rep depending upon the negotiated agreement. Fees are paid quarterly in advance. If management services begin after the start of the quarter, fees will be prorated according to the time remaining in the quarter. All fees paid to AWM for advisory services are separate and distinct from all the expenses charged by the client’s custodian or outside 3rd party manager. Refunds or Termination: The client can terminate this agreement within five (5) business days from the date of acceptance without penalty. Thereafter, in the event of termination of the client’s account, the client will be refunded the prorated portion of the fee for the quarter of termination. Either AWM or the client may terminate this agreement upon written notice. The specific manner in which fees are charged by AWM is established in the client’s written agreement Schedule “A”. Clients will be billed in advance each calendar quarter. Clients may also elect to be billed directly for fees or to authorize AWM to directly debit fees from client accounts. Clients will be either billed by separate invoice or the client’s quarterly account statement will describe the fees charged and serve as the client’s invoice. Management fees shall not be prorated for each capital contribution and withdrawal made during the applicable calendar quarter. Accounts initiated or terminated during a calendar quarter will be charged or credited a prorated fee. Upon termination of a client’s account, any prepaid, unearned fees will be promptly refunded to the Client and any earned, unpaid fees due AWM will become payable. AWM’s advisory fees are separate from and in addition to custodial fees and other charges imposed by third parties. Clients may incur certain costs charged directly by custodians, mutual funds, exchange-traded funds (ETFs), and other investment managers. These may include account maintenance fees, fund management or internal expenses, transaction charges, transfer taxes, wire or electronic fund fees, and similar expenses. Such costs are not included in AWM’s advisory fee. AWM does not receive any portion of these third-party fees or expenses. AWM and its supervised persons are compensated solely through advisory fees. We do not receive commissions or other transaction-based compensation for recommending or selling securities or investment products. Mutual fund purchases are generally made on a no-load or institutional share class basis, whenever available, to help minimize client expenses. AWM does not receive any portion of the internal management fees or expenses charged by mutual funds or exchange-traded funds (ETFs). 6 | P a g e ADV Part II 10-01-2025  Item 6- Performance- Base Fees - N/A Item 7- Types of Clients AWM provides portfolio management services to individuals, high net worth individuals, corporate pension, and profit-sharing plans, charitable institutions, foundations, endowments, and other U.S. institutions. AWM generally has a minimum account size of $100,000.00 but account size can be negotiated depending on the client’s individual circumstances. Item 8- Methods of Analysis, Investment Strategies, and Investment Risk AWM uses a variety of disciplines including micro- and macroeconomic analysis, charting, fundamental and technical analysis. Sources include financial periodicals, research prepared by others, corporate rating services, timing services, annual reports, prospectuses, SEC filings, and company press releases. Together, these form the foundation of AWM’s investment approach. This information is used to implement strategies aligned with each client’s objectives. Depending on circumstances, any one or all methods may be applied. Strategies include long-term purchases (held at least one year), short-term purchases (sold within a year), trading (within 30 days), margin transactions, and option writing (covered calls or hedging). Investing in securities involves risk, including company-specific, market, credit, and interest-rate risks. Margin transactions add debt risk. Options carry the same risks as the underlying company plus unique risks such as time decay and expiration; options may expire worthless. Clients who use options will receive the brochure Characteristics and Risks of Standardized Options. All clients must understand and accept the potential for losses when investing in securities. Item 9- Disciplinary Information Registered Investment Advisers are required to disclose all material facts regarding any legal or disciplinary events that would be material to the client’s evaluation of AWM or the integrity of AWM’s management. • In May 2023, American Wealth Management, Inc. entered a settlement with FINRA (Acceptance, Waiver, and Consent No. 2021069376801). The matter related to prior Form CRS filings that omitted required disclosures of disciplinary history for the firm and 7 | P a g e ADV Part II 10-01-2025  certain representatives between 2020 and 2022. The settlement included a censure, fine, and a certification requirement. AWM has since amended its Form CRS to respond “Yes” to the required disciplinary history question and has implemented enhanced compliance controls to ensure accurate disclosures going forward. Item 10- Other Financial Industry Activities and Affiliations AWM is no longer registered as a broker-dealer. As of October 31, 2024, the firm operates solely as an SEC-registered investment advisor. AWM is solely registered as an investment adviser with the U.S. Securities and Exchange Commission. The firm is not registered as a broker-dealer and does not have affiliated broker-dealer operations. Item 11- Code of Ethics AWM has adopted a Code of Ethics for all supervised persons that reflects our fiduciary duty to clients and our commitment to the highest standards of business conduct. The Code of Ethics includes provisions relating to the confidentiality of client information, a prohibition on insider trading, restrictions on gifts and business entertainment, and personal securities trading procedures. All supervised persons must acknowledge the Code of Ethics during attestation review. From time to time, AWM or its supervised persons may recommend to clients, or buy or sell for client accounts, securities in which AWM or its personnel have a financial interest. Such transactions are conducted in a manner designed to avoid conflicts of interest and to ensure clients are treated fairly. Personal securities transactions by AWM personnel are monitored under the Code to ensure they do not interfere with client interests. Clients or prospective clients may request a copy of AWM’s Code of Ethics by contacting Gavin Borzello at (770) 392-8741 or gavinborzello@awminc.biz. Item 12- Brokerage Practices AWM does not receive soft dollar benefits, research, or other products or services in exchange for directing client transactions. We do not select or recommend broker-dealers based on receiving client referrals. 8 | P a g e ADV Part II 10-01-2025  AWM typically recommends that clients custody their assets with established custodians such as Raymond James or Charles Schwab, which we believe provide clients with competitive pricing and reliable service. Clients may request that trades be directed to another broker-dealer or custodian of their choice; however, in such cases clients may pay higher transaction costs or experience less favorable execution. When appropriate, AWM may aggregate (block) client trades in order to seek better execution and reduce overall transaction costs. If a block trade is only partially filled, allocations are made on a pro-rata basis. AWM personnel are not permitted to place their own trades ahead of client orders. Item 13- Review of Account AWM monitors client accounts on a periodic basis as part of its advisory services. Reviews are designed to consider the client’s stated investment objectives, risk tolerance, and account restrictions. Accounts may be reviewed in connection with client deposits or withdrawals, significant market events, or other circumstances that suggest reallocation or rebalancing may be appropriate. For non-discretionary accounts, any recommended changes are discussed with the client before implementation. For discretionary accounts, changes may be made in accordance with the client’s stated objectives and investment policy. In addition, client accounts are monitored for unusual or unauthorized trading activity. Any concerns are escalated to Compliance for review. Clients receive statements directly from their qualified custodian at least quarterly, reflecting account holdings, transactions, and advisory fees. AWM encourages clients to review these statements carefully and report any discrepancies. Item 14- Client Referrals and Other Compensation AWM does not rely on someone who is not a client for investment advice, referrals, or other advisory services to its clients for economic benefit. Item 15- Custody Clients will receive a quarterly statement from their custodian. Clients are responsible for reviewing this statement for its accuracy. AWM does not provide account statements to clients. Clients will only receive account statements from their designated custodian. If the client 9 | P a g e ADV Part II 10-01-2025  receives statements from a source other than their custodian, they should IMMEDIATELY notify AWMs Compliance Officer. AWM does not maintain custody of any client funds or securities. All client accounts are held at a third-party qualified custodian registered in the client’s name. Item 16- Investment Discretion When a client authorizes full discretion in their fee agreement this allows AWM to have full discretion to make decisions as to what securities and the amount of securities to be bought and sold. When AWM selects securities and determines the amount to be purchased AWM must observe the client’s investment policies, limitations, and restrictions. This will only be done in allocating funds to meet the client’s investment objective. However, full discretion at no time shall allow AWM or any associate to receive, retain or physically control any cash, securities, or other assets forming any part of the client’s account except when authorized in writing by the client. Item 17- Financial Planning Fee A Financial plan is a comprehensive evaluation of the investor’s current and future financial state by using currently known variables to predict future cash flows, asset values, and withdrawal plans. The financial plan uses the client’s current net worth, tax liabilities, asset allocation, and future retirement and estate plans in developing a financial plan. This information, along with estimates of asset growth determine if a client’s financial goals can be met in the future, or what steps need to be taken to ensure that they are. Fees will be based on the level of planning required by the client. Fees can range from $500- $5000 as stated in the Advisory Agreement. The client and adviser will mutually determine the client’s fee based on the complexity of the client’s financial plan. Item 18- Voting Client Securities - AWM does not vote proxies for clients. Item 19- Requirements for State – Registered Advisors “This Item is not applicable. AWM is registered with the U.S. Securities and Exchange Commission as an investment adviser.” 10 | P a g e ADV Part II 10-01-2025  11 | P a g e ADV Part II 10-01-2025  3480 Preston Ridge Road Suite 500 Alpharetta, Georgia 30005 770-392-8741 gavinborzello@awminc.biz Form ADV Part IIB – Brochure Supplement October 1st, 2025 Gavin M. Borzello President and Chief Compliance Officer (CRD # 3242246) 3480 Preston Ridge Road, Suite 500, Alpharetta, Georgia 30005 (770)392-8741 gavinborzello@awminc.biz Educational Background and Business Experience Graduated from Georgia State University in Atlanta, Georgia with a Bachelor of Science degree in Decision Science (Business) 1999. I have been in the financial services industry since 1999 as broker, investment advisor representative, and compliance principal here at American Wealth Management, Inc. Passed Series 7, 63, 65, 53 and 24 licenses and tested and prepared for Level 1 and 2 CFA – Chartered Financial Analyst Exams. Disciplinary Information None Other Business Activities Insurance Licensed Additional Compensation W-2 Employee running AWM, Inc. as owner, President, and CCO Supervision Gavin M. Borzello is the President & Chief Compliance Officer. Supervision is conducted through ongoing compliance reviews, monitoring of accounts, and periodic meetings. Supervisor Contact: 770-392-8741, gavinborzello@awminc.biz Requirements for State-Registered Advisers Not applicable. American Wealth Management, Inc. is SEC-registered.  Form ADV Part 2B – Brochure Supplement Cont. Richard Miller (CRD # 1381342) 3480 Preston Ridge Road, Suite 500, Alpharetta, Georgia 30005 (770)392-8751 RichardMiller@awminc.biz Educational Background and Business Experience Bachelor of Science in Science Administration Bowling Green State University, Bowling Green, Ohio December 22, 1984 Rick Miller has worked at American Wealth Management, Inc. since 1993 and currently works as an Investment Advisor Representative serving individuals and families. Disciplinary Information None Other Business Activities None Additional Compensation None Supervision Supervised by Gavin M. Borzello, President & Chief Compliance Officer. Supervision is conducted through ongoing compliance reviews, monitoring of accounts, and periodic meetings. Supervisor Contact: 770-392-8741, gavinborzello@awminc.biz Requirements for State-Registered Advisers Not applicable. American Wealth Management, Inc. is SEC-registered.  Form ADV Part 2B – Brochure Supplement Cont. John Lutz (CRD # 4163091) American Wealth Management, Inc. 118 E 9th Street, Casper WY 82601 (307)234-2169 johnlutz@awminc.biz Educational Background and Business Experience John Graduated with a Bachelor of Arts Degree in Political Economics (a Minor Degree in Business Administration) from Hillsdale College in Hillsdale, Michigan. John has served as a financial advisor for over 25 years (since February 2000). John and his team manage just under $100,000,000.00 AUM, serving over 250 Individuals and families. Disciplinary Information None Other Business Activities None Additional Compensation None Supervision Supervised by Gavin M. Borzello, President & Chief Compliance Officer. Supervision is conducted through ongoing compliance reviews, monitoring of accounts, and periodic meetings. Supervisor Contact: 770-392-8741, gavinborzello@awminc.biz Requirements for State-Registered Advisers Not applicable. American Wealth Management, Inc. is SEC-registered.  Form ADV Part 2B – Brochure Supplement Cont. Kurt Grimmer (CRD # 5751385) 3480 Preston Ridge Road, Suite 500, Alpharetta, Georgia 30005 (253)328-7727 kurtgrimmer@awminc.biz Educational Background and Business Experience Bachelor of Science in Business Administration, Certified Public Accountant – Inactive License. 10 years of experience as a financial advisor. I am currently an Investment Advisor Representative for the past 2 years. Series 7 and 65, with 25 years of experience in Commercial Banking. Disciplinary Information None Other Business Activities None Additional Compensation None Supervision Supervised by Gavin M. Borzello, President & Chief Compliance Officer. Supervision is conducted through ongoing compliance reviews, monitoring of accounts, and periodic meetings. Supervisor Contact: 770-392-8741, gavinborzello@awminc.biz Requirements for State-Registered Advisers Not applicable. American Wealth Management, Inc. is SEC-registered.  Form ADV Part 2B – Brochure Supplement Cont. Lee Hollingsworth (CRD # 4445535) American Wealth Management, Inc. 3480 Preston Ridge Road, Suite 500, Alpharetta, Georgia 30005 (678)576-4838 leehollingsworth@awminc.biz Educational Background and Business Experience Bachelor’s degree Florida State University 1976 Master’s Degree University of Pennsylvania 1980 Chartered Financial Analyst 1984 – CFA Investment Advisor Representative with American Wealth Management, Inc. from 2005 to present. Disciplinary Information None Other Business Activities None Additional Compensation None Supervision Supervised by Gavin M. Borzello, President & Chief Compliance Officer. Supervision is conducted through ongoing compliance reviews, monitoring of accounts, and periodic meetings. Supervisor Contact: 770-392-8741, gavinborzello@awminc.biz Requirements for State-Registered Advisers Not applicable. American Wealth Management, Inc. is SEC-registered.  Form ADV Part 2B – Brochure Supplement Cont. Kevin Hauser (CRD # 1407288) 3480 Preston Ridge Road, Suite 500, Alpharetta, Georgia 30005 (678)641-1223 kevinhauser@awminc.biz Educational Background and Business Experience Bachelor of Business Degree 1972 Series 7 broker since 1987, IAR representative since 1997. Disciplinary Information 1989 Monetary Fine, censure Other Business Activities None Additional Compensation None Supervision Supervised by Gavin M. Borzello, President & Chief Compliance Officer. Supervision is conducted through ongoing compliance reviews, monitoring of accounts, and periodic meetings. Supervisor Contact: 770-392-8741, gavinborzello@awminc.biz Requirements for State-Registered Advisers Not applicable. American Wealth Management, Inc. is SEC-registered.  Form ADV Part 2B – Brochure Supplement Cont. Steve Rowley (CRD # 867485) American Wealth Management, Inc. 3480 Preston Ridge Road, Suite 500, Alpharetta, Georgia 30338 (770)845-6656 steverowley@awminc.biz Educational Background and Business Experience B.B.A. from Oglethorpe University, Brookhaven, GA. Employed at American Wealth Management, Inc. since 2009, Series 7 license and Investment Advisor Representative since 1979. Disciplinary Information None Other Business Activities None Additional Compensation None Supervision Supervised by Gavin M. Borzello, President & Chief Compliance Officer. Supervision is conducted through ongoing compliance reviews, monitoring of accounts, and periodic meetings. Supervisor Contact: 770-392-8741, gavinborzello@awminc.biz Requirements for State-Registered Advisers Not applicable. American Wealth Management, Inc. is SEC-registered.  Form ADV Part 2B – Brochure Supplement Cont. Alex Lutz (CRD # 6667189) American Wealth Management, Inc. 118 E 9th Street, Casper WY 82601 (307)234-2169 alexlutz@awminc.biz Educational Background and Business Experience He graduated from the University of Wyoming in 2016 with a degree in Economics and a minor in finance. Has worked with American Wealth Management, Inc. for the past 3 years for the Lutz team. Disciplinary Information None Other Business Activities None Additional Compensation None Supervision Supervised by Gavin M. Borzello, President & Chief Compliance Officer. Supervision is conducted through ongoing compliance reviews, monitoring of accounts, and periodic meetings. Supervisor Contact: 770-392-8741, gavinborzello@awminc.biz Requirements for State-Registered Advisers Not applicable. American Wealth Management, Inc. is SEC-registered.  Form ADV Part 2B – Brochure Supplement Cont. Adam Lutz (CRD # 7643842) American Wealth Management, Inc. 118 E 9th Street, Casper WY 82601 (307)234-2169 adamlutz@awminc.biz Educational Background and Business Experience Graduated Casper College in Casper Wyoming, has been working as an IAR assisting the family Lutz team for 3 years. Disciplinary Information None Other Business Activities None Additional Compensation None Supervision Supervised by Gavin M. Borzello, President & Chief Compliance Officer. Supervision is conducted through ongoing compliance reviews, monitoring of accounts, and periodic meetings. Supervisor Contact: 770-392-8741, gavinborzello@awminc.biz Requirements for State-Registered Advisers Not applicable. American Wealth Management, Inc. is SEC-registered.