Wealth manager, independent · Edina, MN
Punch & Associates Investment Management, Inc.
SEC-registered investment adviser · CRD 117962 · SEC 801-61205
At a glance
Punch & Associates Investment Management, Inc. is an SEC-registered investment adviser based in Edina, Minnesota, with $2.0B in regulatory assets under management as of its Form ADV filed April 30, 2026. It reports 541 individual clients, 333 of them high-net-worth, holding an average of about $2.6 million each, and 34 employees. That ranks it 548th among the nation’s 5,657 independent wealth management RIAs and 14th of 140 in Minnesota. It reports Fidelity as the custodian for its clients’ separately managed accounts.
Main office 952-224-4350punchinvest.comLinkedInAs filed on Form ADV
- Regulatory AUM
- $2.0B
- Rank among independent wealth managers
- #548 of 5,657
- Rank among all SEC RIAs
- #3,603 of 17,210
- Rank in Minnesota
- #14 of 140
- Individual clients
- 541
- High-net-worth clients
- 333
- Accounts
- 559
- Discretionary
- 100% of AUM
- Employees
- 34
- Advisory staff
- 18
- Offices
- 1
Owners and executives on its Form ADV
- Howard D. PunchChief Investment Officer
- Andrew J. MatysikChief Executive Officer
- John C. CarrauxManaging Partner & Portfolio Manager
- Jessica B. JohnsonManaging Partner
- Cory S. KinerChief Financial Officer
- Todd L. SpicerChief Compliance Officer
- Paul T. DwyerManaging Partner & Portfolio Manager
Custody and brokerage
Broker-dealer
No broker-dealer ties
Punch & Associates Investment 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 | 333 | $1.3B | 66% |
| Pooled investment vehicles | 2 | $387M | 19% |
| Pension and profit sharing plans | 3 | $110M | 5% |
| Individuals | 208 | $72M | 4% |
| Charitable organizations | 9 | $71M | 4% |
| Corporations or other businesses | 5 | $40M | 2% |
| Investment companies | 1 | $0M | 0% |
| Other investment advisers | 1 | $0M | 0% |
Private funds
Punch & Associates Investment Management, Inc. reports 2 private funds with $387M in gross assets: hedge funds (Form ADV Item 7.B).
Disciplinary disclosures
Punch & Associates Investment 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 investment companies
- Portfolio management for pooled investment vehicles
- Portfolio management for businesses and institutions
- Periodicals or newsletters
- Other services
How it’s paid
- A percentage of assets under management
- Fixed fees
- Performance-based fees
- Other
Form ADV and brochures on the SEC’s adviser search ↗punchinvest.com ↗
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The full record on Punch & Associates Investment 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 1,949 peers of its type and size
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- Owners and executives, with titles and stakes
- 7 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 |
|---|---|---|
| Compass Capital Management IncMinneapolis | $2.6B | 379 |
| Stonebridge Capital Advisors LLCSt. Paul | $2.5B | 1,609 |
| EFS AdvisorsCambridge | $2.4B | 21,660 |
| Jnba Financial Advisors, LLCBloomington | $2.0B | 1,105 |
| Silveroak Wealth Management LLCEdina | $2.0B | 444 |
| Cahill Financial Advisors, Inc.Edina | $1.8B | 1,109 |
Background
Questions
How much does Punch & Associates Investment Management, Inc. manage?
Punch & Associates Investment Management, Inc. reports $2.0B in regulatory assets under management across 559 accounts, 100% of it on a discretionary basis, on its Form ADV filed April 30, 2026.
How many clients does Punch & Associates Investment Management, Inc. have?
It reports 541 individual clients: 333 high-net-worth individuals and 208 other individuals. Individuals account for about 70% of its regulatory assets.
Where is Punch & Associates Investment Management, Inc. headquartered?
Its main office is in Edina, Minnesota. It reports 1 office in total and 34 employees, 18 of whom perform investment advisory functions.
How does Punch & Associates Investment Management, Inc. charge clients?
On Form ADV it lists these forms of compensation: a percentage of assets under management; fixed fees; performance-based 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 Punch & Associates Investment Management, Inc. use?
It reports Fidelity as the custodian for its clients’ separately managed accounts. On Schedule D of its Form ADV filed April 30, 2026, it reports these amounts held: Fidelity ($1.5B). Form ADV lists only custodians holding 10% or more of separately managed account assets.
Is Punch & Associates Investment Management, Inc. a hybrid RIA with a broker-dealer?
Punch & Associates Investment Management, Inc. reports no employees registered with a broker-dealer and no affiliated broker-dealer.
Is Punch & Associates Investment Management, Inc. a fiduciary?
As an SEC-registered investment adviser, Punch & Associates Investment 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 Punch & Associates Investment 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 (2026-04-30), 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 →