Wealth manager, independent · Minneapolis, MN
Compass Capital Management Inc
SEC-registered investment adviser · CRD 107823 · SEC 801-32238
At a glance
Compass Capital Management Inc is an SEC-registered investment adviser based in Minneapolis, Minnesota, with $2.6B in regulatory assets under management as of its Form ADV filed March 26, 2026. It reports 379 individual clients, 278 of them high-net-worth, holding an average of about $5.0 million each, and 20 employees. That ranks it 438th among the nation’s 5,657 independent wealth management RIAs and 11th of 140 in Minnesota. It reports Charles Schwab as the custodian for its clients’ separately managed accounts.
Main office 612-338-4051compasscap.comLinkedInAs filed on Form ADV
- Regulatory AUM
- $2.6B
- Rank among independent wealth managers
- #438 of 5,657
- Rank among all SEC RIAs
- #3,127 of 17,210
- Rank in Minnesota
- #11 of 140
- Individual clients
- 379
- High-net-worth clients
- 278
- Accounts
- 1,676
- Discretionary
- 93% of AUM
- Employees
- 20
- Advisory staff
- 10
- Offices
- 2
Owners and executives on its Form ADV
- Charles KelleyPrincipal/founder
- Leigh NiebuhrSenior Portfolio Manager & Chief Compliance Officer
- Phillip C SternPresident
- Emily B KelleyTrustee of the Emily B. Kelley Family Irrevocable Trust
- Christopher C. KelleyDirector
- Samuel H KelleyDirector
Custody and brokerage
Broker-dealer
No broker-dealer ties
Compass Capital Management Inc 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 | 278 | $1.9B | 73% |
| Corporations or other businesses | 13 | $261M | 10% |
| Pension and profit sharing plans | 30 | $234M | 9% |
| Charitable organizations | 21 | $150M | 6% |
| Individuals | 101 | $47M | 2% |
Disciplinary disclosures
Compass Capital Management Inc 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
- Portfolio management for businesses and institutions
- Other services
How it’s paid
- A percentage of assets under management
- Fixed fees
Form ADV and brochures on the SEC’s adviser search ↗compasscap.com ↗
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The full record on Compass Capital Management Inc
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, ten years of filings
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- Growth over one, three and five years
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- Rank against 1,576 peers of its type and size
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- Owners and executives, with titles and stakes
- 6 namedLocked
- Main office, fax and compliance officer
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- Filing changes this year, with alerts
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Free while Atlas launches: create a free account and confirm your email. Every figure comes from SEC filings.
Similar-size RIAs in Minnesota
All of Minnesota →| Firm | Regulatory AUM | Clients |
|---|---|---|
| Boulay WealthEden Prairie | $3.0B | 1,096 |
| Berger Financial GroupPlymouth | $2.9B | 3,755 |
| Tradition Wealth Management LLCEdina | $2.6B | 2,155 |
| Stonebridge Capital Advisors LLCSt. Paul | $2.5B | 1,609 |
| EFS AdvisorsCambridge | $2.4B | 21,660 |
| Punch & Associates Investment Management, Inc.Edina | $2.0B | 541 |
Background
Questions
How much does Compass Capital Management Inc manage?
Compass Capital Management Inc reports $2.6B in regulatory assets under management across 1,676 accounts, 93% of it on a discretionary basis, on its Form ADV filed March 26, 2026.
How many clients does Compass Capital Management Inc have?
It reports 379 individual clients: 278 high-net-worth individuals and 101 other individuals. Individuals account for about 75% of its regulatory assets.
Where is Compass Capital Management Inc headquartered?
Its main office is in Minneapolis, Minnesota. It reports 2 offices in total and 20 employees, 10 of whom perform investment advisory functions.
How does Compass Capital Management Inc charge clients?
On Form ADV it lists these forms of compensation: a percentage of assets under management; fixed fees. Fees and minimums are set out in its Form ADV Part 2A brochure, available on the SEC’s adviser search.
What custodian does Compass Capital Management Inc use?
It reports Charles Schwab as the custodian for its clients’ separately managed accounts. On Schedule D of its Form ADV filed March 26, 2026, it reports these amounts held: Charles Schwab ($1.8B). Form ADV lists only custodians holding 10% or more of separately managed account assets.
Is Compass Capital Management Inc a hybrid RIA with a broker-dealer?
Compass Capital Management Inc reports no employees registered with a broker-dealer and no affiliated broker-dealer.
Is Compass Capital Management Inc a fiduciary?
As an SEC-registered investment adviser, Compass Capital Management Inc 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 Compass Capital Management Inc’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 (2026-03-26), 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 →