Wealth manager, independent · Minneapolis, MN
Everest Financial Group
Everest Financial Group LLC · SEC-registered investment adviser · CRD 137260 · SEC 801-67635
At a glance
Everest Financial Group is an SEC-registered investment adviser based in Minneapolis, Minnesota, with $1.0B in regulatory assets under management as of its Form ADV filed March 30, 2026. It reports 1,940 individual clients, 350 of them high-net-worth, holding an average of about $0.5 million each, and 12 employees. That ranks it 1103rd among the nation’s 5,657 independent wealth management RIAs and 32nd of 140 in Minnesota. It reports Charles Schwab as the custodian for its clients’ separately managed accounts.
Main office 763-923-7525everestfg.usAs filed on Form ADV
- Regulatory AUM
- $1.0B
- Rank among independent wealth managers
- #1,103 of 5,657
- Rank among all SEC RIAs
- #5,382 of 17,210
- Rank in Minnesota
- #32 of 140
- Individual clients
- 1,940
- High-net-worth clients
- 350
- Accounts
- 4,505
- Discretionary
- 99% of AUM
- Employees
- 12
- Advisory staff
- 12
- Offices
- 5
Owners and executives on its Form ADV
- John W. MackimmMember
- Nikolas P. WogstadMember/chief Financial Officer/treasurer
- Tai Hwee S. DiongMember
- Tiow K. ChanVice President/member
- James J. MatejcekPresident / Chief Compliance Officer
Custody and brokerage
Broker-dealer
Hybrid RIA
Everest Financial Group is a hybrid RIA: 12 of its employees are also registered representatives of a broker-dealer.
Its Form ADV brochure (filed March 2026) names Osaic Wealth as the broker-dealer its advisers are registered with.
Our investment adviser representatives (“IARs”) are also registered representatives of Osaic Wealth, Inc.
Who it serves
| Client type | Clients | Regulatory AUM | Share |
|---|---|---|---|
| High-net-worth individuals | 350 | $622M | 62% |
| Individuals | 1,590 | $381M | 38% |
Disciplinary disclosures
Everest Financial Group 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
- Selecting other advisers
- Educational seminars and workshops
How it’s paid
- A percentage of assets under management
- Hourly charges
- Fixed fees
- Other
Form ADV and brochures on the SEC’s adviser search ↗everestfg.us ↗
AtlasMembers
The full record on Everest Financial Group
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 3,534 peers of its type and size
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- Owners and executives, with titles and stakes
- 5 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 |
|---|---|---|
| Bearing Point CapitalRichfield | $1.1B | 229 |
| Parr McKnight Wealth Management GroupMinneapolis | $1.1B | 441 |
| Marquette Wealth ManagementMinnetonka | $1.1B | 211 |
Background
Questions
How much does Everest Financial Group manage?
Everest Financial Group reports $1.0B in regulatory assets under management across 4,505 accounts, 99% of it on a discretionary basis, on its Form ADV filed March 30, 2026.
How many clients does Everest Financial Group have?
It reports 1,940 individual clients: 350 high-net-worth individuals and 1,590 other individuals. Individuals account for about 100% of its regulatory assets.
Where is Everest Financial Group headquartered?
Its main office is in Minneapolis, Minnesota. It reports 5 offices in total and 12 employees, 12 of whom perform investment advisory functions.
How does Everest Financial Group charge clients?
On Form ADV it lists these forms of compensation: a percentage of assets under management; hourly charges; fixed fees; other. Fees and minimums are set out in its Form ADV Part 2A brochure, available on the SEC’s adviser search.
What custodian does Everest Financial Group use?
It reports Charles Schwab as the custodian for its clients’ separately managed accounts. On Schedule D of its Form ADV filed March 30, 2026, it reports these amounts held: Charles Schwab ($1.0B). Form ADV lists only custodians holding 10% or more of separately managed account assets.
Is Everest Financial Group a hybrid RIA with a broker-dealer?
Everest Financial Group is a hybrid RIA: 12 of its employees are also registered representatives of a broker-dealer. Those representatives can also earn commissions on brokerage business through the broker-dealer, where different rules apply than for advisory accounts.
Is Everest Financial Group a fiduciary?
As an SEC-registered investment adviser, Everest Financial Group owes its advisory clients a fiduciary duty under the Investment Advisers Act of 1940, which includes duties of care and loyalty. 12 of its employees are also registered representatives of a broker-dealer, where different rules apply to brokerage recommendations.
Where these numbers come from
Every figure is Everest Financial Group’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 (2026-03-30), 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 →