# Ashley Papa

> Ashley Papa is a fee-only financial advisor at Black Swift Group in Boulder, Colorado. Black Swift Group reports charging a percentage of assets, fixed fees and performance-based fees on its Form ADV.

Page: https://find.wellspent.co/advisors/ashley-papa/
Built from SEC adviser records; last checked October 30, 2026.

## Facts

- **Firm:** Black Swift Group
- **Based in:** Boulder, Colorado
- **Fee model (firm's Form ADV):** Percentage of assets; Fixed fees; Performance-based fees
- **Assets under management (firm):** $694.1M across 406 accounts
- **CRD:** 5858844 (https://adviserinfo.sec.gov/individual/summary/5858844)
- **SEC registration:** Investment adviser representative in CO
- **Exams passed:** Series 65 (2024), Series 66 (2012)
- **Firm size:** 9 employees
- **Disclosures:** None reported
- **Website:** http://www.blackswiftgroup.com/

## Frequently asked questions

### Is Ashley Papa a fee-only financial advisor?

Yes, according to SEC records as of October 29, 2026: Ashley holds no broker registration, and Black Swift Group reports no commissions, no broker-dealer, and no insurance sales or affiliated insurance agency on its Form ADV.

### How does Ashley charge for financial advice?

Ashley's firm, Black Swift Group, reports charging a percentage of assets, fixed fees and performance-based fees on its SEC Form ADV.

### Where is Ashley Papa based?

Ashley Papa is based in Boulder, Colorado.

### Is Ashley Papa registered with the SEC?

Yes. Ashley Papa is registered as an investment adviser representative in CO (CRD 5858844), per SEC Investment Adviser Public Disclosure data as of October 29, 2026.

### How much does Black Swift Group manage?

Black Swift Group reports $694.1M across 406 accounts in assets under management.

### How do I contact Ashley Papa?

Through Ashley's website, www.blackswiftgroup.com.

## Sources

- SEC adviser records (https://adviserinfo.sec.gov/individual/summary/5858844): the firm's Form ADV reports no commissions, no broker-dealer, and no insurance sales or affiliated insurance agency, and the advisor holds no broker registration
- SEC Investment Adviser Public Disclosure and Form ADV: registration, exams, and firm facts, data as of October 29, 2026

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Source: Wellspent, the public graph of fee-only advisors (https://find.wellspent.co). No paid placement.