SEC Form ADV, by state
The largest investment adviser firms in Montana
The current SEC Form ADV data lists 27 investment adviser firms headquartered in Montana, of which 2 (7.4%) 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 |
|---|---|---|---|---|
| D.A. DAVIDSON & CO. | GREAT FALLS | $42B | % of AUMhourlyfixed | yes, reported |
| INVESTMENT MANAGEMENT GROUP | BILLINGS | $5.2B | % of AUMfixedother | none reported |
| DAVIDSON INVESTMENT ADVISORS, INC. | GREAT FALLS | $5.2B | % of AUM | none reported |
| STACK FINANCIAL MANAGEMENT INC | WHITEFISH | $2.0B | % of AUM | none reported |
| BITTERROOT CAPITAL ADVISORS LLC | BOZEMAN | $1.8B | % of AUMfixed | none reported |
| ALLIED INVESTMENT ADVISORS LLC | BILLINGS | $1.5B | % of AUMhourlysubscription | none reported |
| XYPN INVEST | BOZEMAN | $882M | % of AUMhourlyfixed | yes, reported |
| FRONT STREET CAPITAL MANAGEMENT, INC. | MISSOULA | $862M | % of AUMhourlyfixed | none reported |
| DESTRA CAPITAL ADVISORS LLC | BOZEMAN | $464M | % of AUM | none reported |
| MAIN LINE RETIREMENT ADVISORS, LLC | WHITEFISH | $449M | % of AUMhourlyfixed | none reported |
| EVERGREEN WEALTH PARTNERS LLC | KALISPELL | $405M | % of AUMhourly | none reported |
| SGL INVESTMENT ADVISORS, INC. | MISSOULA | $392M | % of AUM | none reported |
| CAPSTONE WEALTH | BILLINGS | $354M | % of AUMhourlyfixed | none reported |
| PROFESSIONAL FINANCIAL MANAGEMENT, INC. | BOZEMAN | $304M | % of AUMhourly | none reported |
| WILLOW CREEK CAPITAL MANAGEMENT, INC. | MISSOULA | $280M | % of AUM | none reported |
| CLADIS INVESTMENT ADVISORY LLC | BILLINGS | $243M | % of AUMhourlyfixed | none reported |
| PIEDMONT CAPITAL MANAGEMENT, LLC | WHITEFISH | $232M | % of AUM | none reported |
| DFC PREFERRED ADVISORS LLC | BOZEMAN | $229M | % of AUM | none reported |
| LIFE PLANNING ADVISORS LLC | BIGFORK | $169M | % of AUMfixedother | none reported |
| BIG SKY WEALTH ADVISORS, LLC | GREAT FALLS | $135M | % of AUMhourlyfixed | none reported |
| BERGEN PARK CAPITAL MANAGEMENT, LLC | BIGFORK | $99M | % of AUMperformance | none reported |
| LUCENT FINANCIAL | BOZEMAN | $0 | % of AUM | none reported |
| NETWORK CAPITAL | KALISPELL | $0 | % of AUMfixed | none reported |
| PATHFINDER PLANNING AND INVESTMENTS | MISSOULA | $0 | % of AUMhourlyfixed | none reported |
Source: SEC Form ADV monthly data, firms reporting a Montanaheadquarters 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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