Wealth manager, independent · Middleton, WI
Canopy Wealth Management
ERN Financial, LLC · SEC-registered investment adviser · CRD 297717 · SEC 801-113774
At a glance
Canopy Wealth Management is an SEC-registered investment adviser based in Middleton, Wisconsin, with $1.2B in regulatory assets under management as of its Form ADV filed April 8, 2026. It reports 592 individual clients, 293 of them high-net-worth, holding an average of about $1.9 million each, and 12 employees. That ranks it 955th among the nation’s 5,657 independent wealth management RIAs and 14th of 97 in Wisconsin. It reports Charles Schwab as the custodian for its clients’ separately managed accounts.
Main office 608-662-9018canopy-wealth.comLinkedInAs filed on Form ADV
- Regulatory AUM
- $1.2B
- Rank among independent wealth managers
- #955 of 5,657
- Rank among all SEC RIAs
- #4,959 of 17,210
- Rank in Wisconsin
- #14 of 97
- Individual clients
- 592
- High-net-worth clients
- 293
- Accounts
- 2,608
- Discretionary
- 93% of AUM
- Employees
- 12
- Advisory staff
- 7
- Offices
- 4
Owners and executives on its Form ADV
- Eric D. RaetherPresident
- Ernest P. MoosherrChief Executive Officer
- Mark G. BuchananChief Compliance Officer/coo
Custody and brokerage
Broker-dealer
No broker-dealer ties
Canopy Wealth Management reports no employees registered with a broker-dealer and no affiliated broker-dealer.
Who it serves
| Client type | Clients | Regulatory AUM | Share |
|---|---|---|---|
| High-net-worth individuals | 293 | $1.0B | 88% |
| Individuals | 299 | $123M | 11% |
| Charitable organizations | 5 | $11M | <1% |
| Pension and profit sharing plans | 1 | $2M | <1% |
| Corporations or other businesses | 3 | $0M | <1% |
Disciplinary disclosures
Canopy Wealth Management reports no disciplinary disclosures in Item 11 of Form ADV. Read the details on the SEC’s adviser search ↗
Services
- Financial planning
- Portfolio management for individuals and small businesses
- Pension consulting
- Periodicals or newsletters
- Educational seminars and workshops
How it’s paid
- A percentage of assets under management
- Hourly charges
Form ADV and brochures on the SEC’s adviser search ↗canopy-wealth.com ↗
AtlasMembers
The full record on Canopy Wealth Management
Ten years of SEC filings, its owners and contacts, and how it stacks up against its peers. Atlas members see all of it.
- Assets, accounts, clients and staff, 8 years of filings
- Locked
- Growth over one, three and five years
- Locked
- Rank against 3,167 peers of its type and size
- Locked
- Owners and executives, with titles and stakes
- 3 namedLocked
- Main office, fax and compliance officer
- Locked
- Filing changes this year, with alerts
- 1Locked
Free while Atlas launches: create a free account and confirm your email. Every figure comes from SEC filings.
Similar-size RIAs in Wisconsin
All of Wisconsin →| Firm | Regulatory AUM | Clients |
|---|---|---|
| Madison PartnersMadison | $1.3B | 2,042 |
| Oarsman Capital, IncMilwaukee | $1.2B | 670 |
| Kerberrose Wealth Management, LLCShawano | $1.2B | 1,554 |
| Goldstein Advisors, LLCMadison | $1.1B | 1,069 |
| Form Wealth Advisors, LLCLake Geneva | $1.1B | 771 |
| Walkner Condon Financial Advisors LLCVerona | $1.0B | 799 |
Background
Questions
How much does Canopy Wealth Management manage?
Canopy Wealth Management reports $1.2B in regulatory assets under management across 2,608 accounts, 93% of it on a discretionary basis, on its Form ADV filed April 8, 2026.
How many clients does Canopy Wealth Management have?
It reports 592 individual clients: 293 high-net-worth individuals and 299 other individuals. Individuals account for about 99% of its regulatory assets.
Where is Canopy Wealth Management headquartered?
Its main office is in Middleton, Wisconsin. It reports 4 offices in total and 12 employees, 7 of whom perform investment advisory functions.
How does Canopy Wealth Management charge clients?
On Form ADV it lists these forms of compensation: a percentage of assets under management; hourly charges. Fees and minimums are set out in its Form ADV Part 2A brochure, available on the SEC’s adviser search.
What custodian does Canopy Wealth Management use?
It reports Charles Schwab as the custodian for its clients’ separately managed accounts. On Schedule D of its Form ADV filed April 8, 2026, it reports these amounts held: Charles Schwab ($1.1B). Form ADV lists only custodians holding 10% or more of separately managed account assets.
Is Canopy Wealth Management a hybrid RIA with a broker-dealer?
Canopy Wealth Management reports no employees registered with a broker-dealer and no affiliated broker-dealer.
Is Canopy Wealth Management a fiduciary?
As an SEC-registered investment adviser, Canopy Wealth Management owes its advisory clients a fiduciary duty under the Investment Advisers Act of 1940, which includes duties of care and loyalty. It reports no employees who are registered representatives of a broker-dealer.
Where these numbers come from
Every figure is Canopy Wealth Management’s own answer on its latest Form ADV, from the SEC’s registered-adviser list as of October 1, 2026: regulatory assets and accounts (Item 5.F), clients by type (5.D), employees (5.A and 5.B), compensation (5.E) and services (5.G). Custodians come from Schedule D 5.K(3) of its latest filing (2026-04-08), which lists those holding 10% or more of separately managed account assets and the amount at each. “Hybrid” means some employees are also registered representatives of a broker-dealer (Item 5.B(2)); affiliated broker-dealers are the related persons it lists in Item 7.A and Schedule D. Firm type comes from its own answers: broker-dealer firms are registered broker-dealers themselves (Item 6.A); private fund advisers manage mostly private funds (Item 7.B, 5.D); wealth managers manage at least half their assets for individuals (5.D). Its national rank compares it with every US-based independent wealth management RIA, the same field as The Largest RIAs. Figures are as of the firm’s last annual update, so they can lag recent deals and market moves. Regulatory AUM counts assets the firm continuously supervises and can differ from what a firm markets.
Not an endorsement or a recommendation. Before hiring any adviser, read its Form ADV Part 2A brochure and check its record on the SEC’s adviser search. How to check a financial advisor →