Wealth manager, independent · Woodbury, MN
Pine Grove Financial Group
MLG Wealth Management, Inc. · SEC-registered investment adviser · CRD 308193 · SEC 801-118868
At a glance
Pine Grove Financial Group is an SEC-registered investment adviser based in Woodbury, Minnesota, with $1.5B in regulatory assets under management as of its Form ADV filed May 19, 2026. It reports 1,404 individual clients, 506 of them high-net-worth, holding an average of about $1.1 million each, and 24 employees. That ranks it 736th among the nation’s 5,657 independent wealth management RIAs and 21st of 140 in Minnesota. It reports Charles Schwab as the custodian for its clients’ separately managed accounts.
Main office 651-714-0323pinegrovefg.comLinkedInAs filed on Form ADV
- Regulatory AUM
- $1.5B
- Rank among independent wealth managers
- #736 of 5,657
- Rank among all SEC RIAs
- #4,274 of 17,210
- Rank in Minnesota
- #21 of 140
- Individual clients
- 1,404
- High-net-worth clients
- 506
- Accounts
- 4,270
- Discretionary
- 100% of AUM
- Employees
- 24
- Advisory staff
- 14
- Offices
- 4
Owners and executives on its Form ADV
- Matthew L. GulbransenPresident and Chief Compliance Officer
Custody and brokerage
Broker-dealer
No broker-dealer ties
Pine Grove Financial Group 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 | 506 | $1.1B | 75% |
| Individuals | 898 | $380M | 25% |
Disciplinary disclosures
Pine Grove 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
- Selecting other advisers
- Educational seminars and workshops
How it’s paid
- A percentage of assets under management
- Fixed fees
- Other
Form ADV and brochures on the SEC’s adviser search ↗pinegrovefg.com ↗
AtlasMembers
The full record on Pine Grove 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, 5 years of filings
- Locked
- Growth over one, three and five years
- Locked
- Rank against 2,536 peers of its type and size
- Locked
- Owners and executives, with titles and stakes
- 1 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 Minnesota
All of Minnesota →| Firm | Regulatory AUM | Clients |
|---|---|---|
| ISC Financial AdvisorsAlbert LEA | $1.6B | 1,262 |
| Strategic Wealth GroupEden Prairie | $1.5B | 3,524 |
| Midwest Financial PartnersSt. Cloud | $1.5B | 438 |
| Redhawk Wealth Advisors, Inc.Minneapolis | $1.5B | 3,118 |
| Affiance Financial LLCSt. Louis Park | $1.4B | 1,178 |
| Palisade Asset Management, LLCMinneapolis | $1.3B | 104 |
Background
Questions
How much does Pine Grove Financial Group manage?
Pine Grove Financial Group reports $1.5B in regulatory assets under management across 4,270 accounts, 100% of it on a discretionary basis, on its Form ADV filed May 19, 2026.
How many clients does Pine Grove Financial Group have?
It reports 1,404 individual clients: 506 high-net-worth individuals and 898 other individuals. Individuals account for about 100% of its regulatory assets.
Where is Pine Grove Financial Group headquartered?
Its main office is in Woodbury, Minnesota. It reports 4 offices in total and 24 employees, 14 of whom perform investment advisory functions.
How does Pine Grove Financial Group charge clients?
On Form ADV it lists these forms of compensation: a percentage of assets under management; 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 Pine Grove Financial Group use?
It reports Charles Schwab as the custodian for its clients’ separately managed accounts. On Schedule D of its Form ADV filed May 19, 2026, it reports these amounts held: Charles Schwab ($1.5B). Form ADV lists only custodians holding 10% or more of separately managed account assets.
Is Pine Grove Financial Group a hybrid RIA with a broker-dealer?
Pine Grove Financial Group reports no employees registered with a broker-dealer and no affiliated broker-dealer.
Is Pine Grove Financial Group a fiduciary?
As an SEC-registered investment adviser, Pine Grove Financial Group 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 Pine Grove 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 (2026-05-19), 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 →