SEC Form ADV, by state
The largest investment adviser firms in Minnesota
The current SEC Form ADV data lists 291 investment adviser firms headquartered in Minnesota, of which 33 (11.3%) answered yes to at least one disciplinary or legal question on Form ADV Item 11. Below are the 50 largest by regulatory assets under management, a gross size measure each firm reports itself. Size is not a quality score, and no public record reports any firm's investment returns.
| Firm | City | Regulatory AUM | Fee methods | Item 11 disclosure |
|---|---|---|---|---|
| AMERIPRISE FINANCIAL SERVICES, LLC | MINNEAPOLIS | $660B | % of AUMhourlyfixed | yes, reported |
| U.S. BANCORP ASSET MANAGEMENT, INC. | MINNEAPOLIS | $427B | % of AUMperformanceother | yes, reported |
| GARDA CAPITAL PARTNERS | WAYZATA | $207B | % of AUMperformance | none reported |
| THRIVENT FINANCIAL FOR LUTHERANS | MINNEAPOLIS | $129B | % of AUMperformance | yes, reported |
| WEALTH ENHANCEMENT ADVISORY SERVICES, LLC | PLYMOUTH | $122B | % of AUMhourlyfixedother | none reported |
| RBC GLOBAL ASSET MANAGEMENT (U.S.) INC. | MINNEAPOLIS | $104B | % of AUMfixedperformance | yes, reported |
| GALLIARD CAPITAL MANAGEMENT | MINNEAPOLIS | $80B | % of AUMfixed | none reported |
| WALLEYE CAPITAL LLC | WAYZATA | $52B | % of AUMperformanceother | yes, reported |
| THRIVENT ASSET MANAGEMENT, LLC | MINNEAPOLIS | $48B | % of AUM | none reported |
| PINE RIVER CAPITAL MANAGEMENT L.P. | MINNETONKA | $47B | % of AUMperformanceother | none reported |
| SECURIAN ASSET MANAGEMENT, INC. | ST PAUL | $42B | % of AUMfixedother | none reported |
| CASTLELAKE, L.P. | MINNEAPOLIS | $35B | % of AUMperformanceother | none reported |
| ADVANCED CAPITAL GROUP | MINNEAPOLIS | $30B | % of AUMhourlyfixed | none reported |
| WINSLOW CAPITAL MANAGEMENT LLC | MINNEAPOLIS | $29B | % of AUMperformance | yes, reported |
| THRIVENT PRIVATE INVESTMENTS | MINNEAPOLIS | $23B | % of AUMperformance | none reported |
| THRIVENT INVESTMENT MANAGEMENT INC. | MINNEAPOLIS | $21B | % of AUMfixed | yes, reported |
| ALLIANZ INVESTMENT MANAGEMENT LLC | MINNEAPOLIS | $19B | % of AUM | yes, reported |
| AB CARVAL INVESTORS, LP | MINNEAPOLIS | $18B | % of AUMperformance | none reported |
| WHITEBOX ADVISORS LLC | MINNEAPOLIS | $16B | % of AUMperformance | yes, reported |
| SIT FIXED INCOME ADVISORS II, LLC | MINNEAPOLIS | $15B | % of AUMperformance | none reported |
| CLIFTONLARSONALLEN WEALTH ADVISORS, LLC | MINNEAPOLIS | $14B | % of AUMhourlyfixed | yes, reported |
| DEVENIR INVESTMENT ADVISORS, LLC | BLOOMINGTON | $13B | % of AUMhourlyfixed | none reported |
| NORTHROCK PARTNERS, LLC | MINNEAPOLIS | $12B | % of AUMfixed | none reported |
| MAIRS & POWER | ST. PAUL | $12B | % of AUMfixedperformance | none reported |
| FIDUCIARY COUNSELLING INC | ST PAUL | $10B | % of AUMfixed | none reported |
| INTELLICENTS INVESTMENT SOLUTIONS INC | ALBERT LEA | $9.9B | % of AUMhourlyfixedcommissions | none reported |
| GRADIENT INVESTMENTS, LLC | ARDEN HILLS | $8.2B | % of AUMfixed | yes, reported |
| HAYS FINANCIAL GROUP, LLC | MINNEAPOLIS | $7.5B | % of AUMhourlyfixed | none reported |
| CARVAL CLO MANAGEMENT LLC | MINNEAPOLIS | $7.3B | % of AUMperformance | none reported |
| THRIVENT ADVISOR NETWORK, LLC | MINNEAPOLIS | $6.8B | % of AUMhourlyfixed | none reported |
| FOCUS FINANCIAL | MINNEAPOLIS | $6.8B | % of AUMhourlyfixedother | yes, reported |
| DISCIPLINED GROWTH INVESTORS INC | MINNEAPOLIS | $5.5B | % of AUMperformance | none reported |
| RIVERBRIDGE | MINNEAPOLIS | $5.0B | % of AUMperformance | none reported |
| CLEARWATER MANAGEMENT CO., INC. | ST PAUL | $4.7B | % of AUMother | none reported |
| ACCREDITED INVESTORS WEALTH MANAGEMENT | EDINA | $4.4B | % of AUMfixed | none reported |
| NORTHCREST ASSET MANAGEMENT | PLYMOUTH | $4.3B | % of AUM | none reported |
| PEREGRINE CAPITAL MANAGEMENT, LLC | MINNEAPOLIS | $4.1B | % of AUMperformance | none reported |
| NORWEST CAPITAL ADVISORS, LLC | MINNEAPOLIS | $3.8B | % of AUMperformance | none reported |
| PROTERRA INVESTMENT PARTNERS LP | MINNEAPOLIS | $3.7B | % of AUMperformance | none reported |
| SIT INVESTMENT ASSOCIATES, INC | MINNEAPOLIS | $3.5B | % of AUM | none reported |
| EHLERS | MINNEAPOLIS | $3.2B | % of AUMhourlyfixed | none reported |
| ADVISORNET WEALTH PARTNERS | MINNETONKA | $3.1B | % of AUMhourlyfixedother | yes, reported |
| BPS CAPITAL MANAGEMENT, INC. | BLOOMINGTON | $3.1B | % of AUMfixedother | none reported |
| BERGER FINANCIAL GROUP | PLYMOUTH | $2.9B | % of AUMhourlyfixed | none reported |
| TRADITION WEALTH MANAGEMENT LLC | EDINA | $2.6B | % of AUMhourlyfixed | none reported |
| ARTHUR VENTURES | MINNEAPOLIS | $2.6B | % of AUMperformance | none reported |
| COMPASS CAPITAL MANAGEMENT INC | MINNEAPOLIS | $2.6B | % of AUMfixed | none reported |
| LOCORR FUND MANAGEMENT, LLC | EXCELSIOR | $2.5B | % of AUM | none reported |
| STONEBRIDGE CAPITAL ADVISORS LLC | ST. PAUL | $2.5B | % of AUM | none reported |
| BOULAY WEALTH | EDEN PRAIRIE | $2.4B | % of AUMhourlyfixed | none reported |
Source: SEC Form ADV monthly data, firms reporting a Minnesotaheadquarters address. Fee-method chips are the compensation arrangements each firm checked on Item 5.E; the disclosure column is the firm's own answer to Item 11. Click through to any firm for the full record and a link to its SEC detail page.
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