Wealth manager, independent · St Paul, MN
Fiduciary Counselling Inc
SEC-registered investment adviser · CRD 104753 · SEC 801-4158
At a glance
Fiduciary Counselling Inc is an SEC-registered investment adviser based in St Paul, Minnesota, with $10B in regulatory assets under management as of its Form ADV filed March 17, 2026. It reports 1,645 individual clients, 643 of them high-net-worth, holding an average of about $5.4 million each, and 87 employees. That ranks it 99th among the nation’s 5,657 independent wealth management RIAs and 2nd of 140 in Minnesota. It reports Fidelity as the custodian for its clients’ separately managed accounts.
Main office 651-228-0935LinkedInAs filed on Form ADV
- Regulatory AUM
- $10B
- Rank among independent wealth managers
- #99 of 5,657
- Rank among all SEC RIAs
- #1,369 of 17,210
- Rank in Minnesota
- #2 of 140
- Individual clients
- 1,645
- High-net-worth clients
- 643
- Accounts
- 1,761
- Discretionary
- 44% of AUM
- Employees
- 87
- Advisory staff
- 18
- Offices
- 2
Owners and executives on its Form ADV
- Ann B. BurnsDirector
- Steven B. WeinsteinDirector
- James G. CastellanoDirector
- Shari L. CliffordChief Financial Officer
- Jason K. MitchellChief Compliance Officer and Chief Operations Officer
- Andrew E. LangChief Investment Officer
- Amy G FieldsDirector
- Sarah G IsabelPresident, Chief Executive Officer and Director
- Joel A. SommersDirector - Estate, Trust & Legal
Custody and brokerage
Broker-dealer
No broker-dealer ties
Fiduciary Counselling 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 | 643 | $8.2B | 81% |
| Corporations or other businesses | 87 | $738M | 7% |
| Individuals | 1,002 | $659M | 7% |
| Charitable organizations | 25 | $468M | 5% |
| Investment companies | 3 | $6M | <1% |
| Other investment advisers | 1 | $4M | <1% |
Disciplinary disclosures
Fiduciary Counselling 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 investment companies
- Portfolio management for businesses and institutions
- Selecting other advisers
- Educational seminars and workshops
- Other services
How it’s paid
- A percentage of assets under management
- Fixed fees
Form ADV and brochures on the SEC’s adviser search ↗
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The full record on Fiduciary Counselling 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 400 peers of its type and size
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- Owners and executives, with titles and stakes
- 9 namedLocked
- Main office, fax and compliance officer
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- 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 Minnesota
All of Minnesota →| Firm | Regulatory AUM | Clients |
|---|---|---|
| Wealth Enhancement Advisory Services, LLCPlymouth | $122B | 80,986 |
| Thrivent Advisor Network, LLCMinneapolis | $6.8B | 14,611 |
| Focus FinancialMinneapolis | $6.8B | 13,560 |
| RiverbridgeMinneapolis | $5.0B | 3,482 |
| Accredited Investors Wealth ManagementEdina | $4.4B | 942 |
| Advisornet Wealth PartnersMinnetonka | $3.1B | 3,499 |
Compare Fiduciary Counselling Inc with
- Fiduciary Counselling Inc vs Wealth Enhancement Advisory Services, LLC $122B · Plymouth, MN
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- Fiduciary Counselling Inc vs Openarc Corporate Advisory, LLC $10B · Atlanta, GA
- Fiduciary Counselling Inc vs Choate Investment Advisors $10B · Boston, MA
- Fiduciary Counselling Inc vs BMO Family Office, LLC $10.0B · Chicago, IL
- Fiduciary Counselling Inc vs Thrivent Advisor Network, LLC $6.8B · Minneapolis, MN
Background
Questions
How much does Fiduciary Counselling Inc manage?
Fiduciary Counselling Inc reports $10B in regulatory assets under management across 1,761 accounts, 44% of it on a discretionary basis, on its Form ADV filed March 17, 2026.
How many clients does Fiduciary Counselling Inc have?
It reports 1,645 individual clients: 643 high-net-worth individuals and 1,002 other individuals. Individuals account for about 88% of its regulatory assets.
Where is Fiduciary Counselling Inc headquartered?
Its main office is in St Paul, Minnesota. It reports 2 offices in total and 87 employees, 18 of whom perform investment advisory functions.
How does Fiduciary Counselling 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 Fiduciary Counselling Inc use?
It reports Fidelity as the custodian for its clients’ separately managed accounts. On Schedule D of its Form ADV filed March 17, 2026, it reports these amounts held: Fidelity ($5.6B). Form ADV lists only custodians holding 10% or more of separately managed account assets.
Is Fiduciary Counselling Inc a hybrid RIA with a broker-dealer?
Fiduciary Counselling Inc reports no employees registered with a broker-dealer and no affiliated broker-dealer.
Is Fiduciary Counselling Inc a fiduciary?
As an SEC-registered investment adviser, Fiduciary Counselling 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 Fiduciary Counselling 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 (2026-03-17), 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 →