Wealth manager, independent · Dubuque, IA
Steele Capital Management, Inc.
SEC-registered investment adviser · CRD 107097 · SEC 801-50636
At a glance
Steele Capital Management, Inc. is an SEC-registered investment adviser based in Dubuque, Iowa, with $3.5B in regulatory assets under management as of its Form ADV filed August 26, 2026. It reports 1,521 individual clients, 582 of them high-net-worth, holding an average of about $1.7 million each, and 15 employees. That ranks it 307th among the nation’s 5,657 independent wealth management RIAs and 4th of 47 in Iowa. It reports Charles Schwab as the custodian for its clients’ separately managed accounts.
Main office 563-588-2097steelecapital.comLinkedInAs filed on Form ADV
- Regulatory AUM
- $3.5B
- Rank among independent wealth managers
- #307 of 5,657
- Rank among all SEC RIAs
- #2,573 of 17,210
- Rank in Iowa
- #4 of 47
- Individual clients
- 1,521
- High-net-worth clients
- 582
- Accounts
- 4,418
- Discretionary
- 99% of AUM
- Employees
- 15
- Advisory staff
- 13
- Offices
- 3
Owners and executives on its Form ADV
- Kathryn L. MoranChief Compliance Officer/chief Financial Officer
- Michael D. SteeleCeo/president
- Bradley LewisSenior Portfolio Manager
- Nicholas P. SmithSenior Portfolio Manager
- Brett A. WesselsChief Investment Officer
- Christopher M. BoxleiterDirector of Company Sponsored Retirement Plans
Custody and brokerage
Broker-dealer
No broker-dealer ties
Steele 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 | 582 | $2.3B | 64% |
| Pension and profit sharing plans | 103 | $853M | 24% |
| Individuals | 939 | $388M | 11% |
| Corporations or other businesses | 20 | $26M | <1% |
| Charitable organizations | – | $10M | <1% |
Disciplinary disclosures
Steele 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 pooled investment vehicles
- Portfolio management for businesses and institutions
- Pension consulting
How it’s paid
- A percentage of assets under management
Form ADV and brochures on the SEC’s adviser search ↗steelecapital.com ↗
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Similar-size RIAs in Iowa
All of Iowa →| Firm | Regulatory AUM | Clients |
|---|---|---|
| Avantax Planning Partners, Inc.Dubuque | $7.6B | 7,515 |
| Foster Group, Inc.West DES Moines | $4.8B | 1,956 |
| BFC Planning, Inc.Cedar Rapids | $3.8B | 11,327 |
| Accel Wealth ManagementWaverly | $1.1B | 1,290 |
| Northwest Wealth Management, LLCSpencer | $1.0B | 2,085 |
| Legacy Financial GroupDES Moines | $1.0B | 1,450 |
Background
Questions
How much does Steele Capital Management, Inc. manage?
Steele Capital Management, Inc. reports $3.5B in regulatory assets under management across 4,418 accounts, 99% of it on a discretionary basis, on its Form ADV filed August 26, 2026.
How many clients does Steele Capital Management, Inc. have?
It reports 1,521 individual clients: 582 high-net-worth individuals and 939 other individuals. Individuals account for about 75% of its regulatory assets.
Where is Steele Capital Management, Inc. headquartered?
Its main office is in Dubuque, Iowa. It reports 3 offices in total and 15 employees, 13 of whom perform investment advisory functions.
How does Steele Capital Management, Inc. charge clients?
On Form ADV it lists these forms of compensation: a percentage of assets under management. Fees and minimums are set out in its Form ADV Part 2A brochure, available on the SEC’s adviser search.
What custodian does Steele 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 August 26, 2026, it reports these amounts held: Charles Schwab ($3.5B). Form ADV lists only custodians holding 10% or more of separately managed account assets.
Is Steele Capital Management, Inc. a hybrid RIA with a broker-dealer?
Steele Capital Management, Inc. reports no employees registered with a broker-dealer and no affiliated broker-dealer.
Is Steele Capital Management, Inc. a fiduciary?
As an SEC-registered investment adviser, Steele 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 Steele 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 (2026-08-26), 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 →