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Independent RIAs in North Dakota

As of October 2, 2026, 29 independent wealth management RIAs based in North Dakota reported $3.0 billion in regulatory assets under management; the largest by assets was Brady Martz Wealth Solutions, LLC, with $795.3 million.

Include wirehouses and broker-dealer firms

Independent wealth management RIAs
29
SEC-registered
8
State-registered
21
Regulatory assets under management
$3.0 billion
Client accounts
11,490
Median firm size
$71.6 million
Broker-dealer affiliated firms, not included
1, with $61.4 million

North Dakota requires IAR continuing education, in effect since 2024. Status from NASAA's IAR CE map, checked October 5, 2026. IAR CE in North Dakota.

Top firms in North Dakota

Largest independent RIAs by assets under management

Rank Firm City RAUM
1 Brady Martz Wealth Solutions, LLC Grand Forks $795.3 million
2 Prairiewood Wealth Management Fargo $365.4 million
3 Johnson Wealth Management, LLC Grand Forks $323.4 million
4 Wealth Forward, LLC Fargo $228.1 million
5 Financial Strategies Group Fargo $189.1 million
6 Fjell Capital Fargo $187.0 million
7 Light Financial Services, Inc. Fargo $175.5 million
8 Capital City Wealth Management, Inc. Bismarck $130.0 million
9 Complete Investment Advisory, LLC Fargo $109.0 million
10 Fleischer & Johnson Wealth Management, Inc. Bismarck $102.2 million

Top 100 in North Dakota

Fastest-growing independent RIAs over one year

Rank Firm City Growth Starting value
1 Prairiewood Wealth Management Fargo 33.4% $274.0 million
2 Brady Martz Wealth Solutions, LLC Grand Forks 32.7% $599.4 million
3 Johnson Wealth Management, LLC Grand Forks 25.9% $256.9 million
4 Light Financial Services, Inc. Fargo 21.0% $145.1 million
5 Fjell Capital Fargo 19.0% $157.2 million
6 Wealth Forward, LLC Fargo 15.7% $197.2 million
7 Financial Strategies Group Fargo 11.4% $169.8 million
8 Capital City Wealth Management, Inc. Bismarck 3.2% $126.0 million

Top 100 in North Dakota

Fastest-growing independent RIAs over three years

Rank Firm City Growth Starting value
1 Prairiewood Wealth Management Fargo 34.1% $151.4 million
2 Johnson Wealth Management, LLC Grand Forks 24.0% $169.4 million
3 Light Financial Services, Inc. Fargo 19.1% $103.8 million
4 Wealth Forward, LLC Fargo 17.6% $140.2 million
5 Financial Strategies Group Fargo 6.1% $158.4 million

Top 100 in North Dakota

Fastest-growing independent RIAs over five years

Rank Firm City Growth Starting value
1 Prairiewood Wealth Management Fargo 24.9% $120.0 million
2 Johnson Wealth Management, LLC Grand Forks 14.3% $165.6 million
3 Wealth Forward, LLC Fargo 9.9% $142.6 million
4 Financial Strategies Group Fargo 2.5% $167.0 million

Top 100 in North Dakota

Independent RIAs with the biggest asset gains over one year

Rank Firm City Increase
1 Brady Martz Wealth Solutions, LLC Grand Forks $195.9 million
2 Prairiewood Wealth Management Fargo $91.4 million
3 Johnson Wealth Management, LLC Grand Forks $66.5 million
4 Wealth Forward, LLC Fargo $30.9 million
5 Light Financial Services, Inc. Fargo $30.4 million
6 Fjell Capital Fargo $29.8 million
7 Financial Strategies Group Fargo $19.3 million
8 Capital City Wealth Management, Inc. Bismarck $4.0 million

Top 100 in North Dakota

Independent RIAs with the most clients

Rank Firm City Most clients
1 Light Financial Services, Inc. Fargo 1,244
2 Financial Strategies Group Fargo 663
3 Brady Martz Wealth Solutions, LLC Grand Forks 448
4 Wealth Forward, LLC Fargo 379
5 Retirement Resource Wealth Management, LLC West Fargo 358
6 Strategic Financial Inc. West Fargo 289
7 Prairiewood Wealth Management Fargo 244
8 Fleischer & Johnson Wealth Management, Inc. Bismarck 232
9 Fjell Capital Fargo 212
10 Complete Investment Advisory, LLC Fargo 189

Top 100 in North Dakota

Independent RIAs with the fastest client growth over one year

Rank Firm City Growth Starting value
1 Light Financial Services, Inc. Fargo 103.6% 611
2 Prairiewood Wealth Management Fargo 21.4% 201
3 Johnson Wealth Management, LLC Grand Forks 10.7% 159
4 Brady Martz Wealth Solutions, LLC Grand Forks 10.3% 406
5 Fjell Capital Fargo 4.4% 203
6 Financial Strategies Group Fargo 0.0% 663
6 Capital City Wealth Management, Inc. Bismarck 0.0% 135
8 Wealth Forward, LLC Fargo -0.8% 382

Top 100 in North Dakota

Independent RIAs with the most accounts

Rank Firm City Most accounts
1 Light Financial Services, Inc. Fargo 1,810
2 Financial Strategies Group Fargo 1,346
3 Prairiewood Wealth Management Fargo 1,201
4 Wealth Forward, LLC Fargo 1,052
5 Brady Martz Wealth Solutions, LLC Grand Forks 1,046
6 Fleischer & Johnson Wealth Management, Inc. Bismarck 665
7 Fjell Capital Fargo 654
8 Johnson Wealth Management, LLC Grand Forks 596
9 Retirement Resource Wealth Management, LLC West Fargo 566
10 Complete Investment Advisory, LLC Fargo 436

Top 100 in North Dakota

Independent RIAs with the most advisory staff

Rank Firm City Most advisory staff
1 Brady Martz Wealth Solutions, LLC Grand Forks 8
2 Financial Strategies Group Fargo 4
2 Prairiewood Wealth Management Fargo 4
4 Capital City Wealth Management, Inc. Bismarck 3
4 Triton Investments, LLC Bismarck 3
4 Fjell Capital Fargo 3
7 Johnson Wealth Management, LLC Grand Forks 2
7 Light Financial Services, Inc. Fargo 2
7 Wealth Forward, LLC Fargo 2
7 Complete Investment Advisory, LLC Fargo 2

Top 100 in North Dakota

Independent RIAs with the most high net worth clients

Rank Firm City Most high net worth clients
1 Brady Martz Wealth Solutions, LLC Grand Forks 134
2 Prairiewood Wealth Management Fargo 129
3 Johnson Wealth Management, LLC Grand Forks 99
4 Financial Strategies Group Fargo 57
5 Wealth Forward, LLC Fargo 51
6 Fjell Capital Fargo 48
7 Capital City Wealth Management, Inc. Bismarck 40
8 Light Financial Services, Inc. Fargo 33
9 Complete Investment Advisory, LLC Fargo 31
10 Schmidt Wealth Management Fargo 23

Top 100 in North Dakota

Independent RIAs with the most CFP professionals

Rank Firm City Most CFP professionals
1 Prairiewood Wealth Management Fargo 3
1 Brady Martz Wealth Solutions, LLC Grand Forks 3
3 Johnson Wealth Management, LLC Grand Forks 2
3 Capital City Wealth Management, Inc. Bismarck 2
5 Financial Strategies Group Fargo 1
5 Light Financial Services, Inc. Fargo 1
5 Wealth Forward, LLC Fargo 1
5 Bona Fide Finance Mandan 1
5 Eighth Wonder Investments Fargo 1
5 Fleischer & Johnson Wealth Management, Inc. Bismarck 1

Top 100 in North Dakota

Newest independent RIAs

Rank Firm City Amount
1 McGorman Wealth Management Watford City $0
1 Strategic Applications and Solutions, LLC Bismarck $0

Top 100 in North Dakota

Over time

From the SEC's yearly files: SEC-registered independent RIAs based in North Dakota, from October 2018, each snapshot classed from its own Form ADV answers.

FirmsSEC-registered independent RIAs. 9 snapshots, October 1, 2018 to October 2, 2026.
024682018202020212023202420268October 1, 2018: 3October 1, 2019: 2October 1, 2020: 3October 4, 2021: 3October 3, 2022: 4October 5, 2023: 5October 1, 2024: 8September 2, 2025: 8October 2, 2026: 8
Data table
As ofFirms
October 1, 20183
October 1, 20192
October 1, 20203
October 4, 20213
October 3, 20224
October 5, 20235
October 1, 20248
September 2, 20258
October 2, 20268
Regulatory assets under managementSEC-registered independent RIAs. 9 snapshots, October 1, 2018 to October 2, 2026.
$0$1B$2B$3B201820202021202320242026$2.4BOctober 1, 2018: $244.8 millionOctober 1, 2019: $233.3 millionOctober 1, 2020: $383.7 millionOctober 4, 2021: $428.2 millionOctober 3, 2022: $619.4 millionOctober 5, 2023: $564.9 millionOctober 1, 2024: $2.6 billionSeptember 2, 2025: $1.9 billionOctober 2, 2026: $2.4 billion
Data table
As ofRegulatory assets under management
October 1, 2018$244.8 million
October 1, 2019$233.3 million
October 1, 2020$383.7 million
October 4, 2021$428.2 million
October 3, 2022$619.4 million
October 5, 2023$564.9 million
October 1, 2024$2.6 billion
September 2, 2025$1.9 billion
October 2, 2026$2.4 billion
Client accountsSEC-registered independent RIAs. 9 snapshots, October 1, 2018 to October 2, 2026.
02,5005,0007,50010K2018202020212023202420268,003October 1, 2018: 1,174October 1, 2019: 1,198October 1, 2020: 1,610October 4, 2021: 1,651October 3, 2022: 3,176October 5, 2023: 3,420October 1, 2024: 8,755September 2, 2025: 6,808October 2, 2026: 8,003
Data table
As ofClient accounts
October 1, 20181,174
October 1, 20191,198
October 1, 20201,610
October 4, 20211,651
October 3, 20223,176
October 5, 20233,420
October 1, 20248,755
September 2, 20256,808
October 2, 20268,003
Median firm size (RAUM)SEC-registered independent RIAs. 9 snapshots, October 1, 2018 to October 2, 2026.
$0$100M$200M$300M201820202021202320242026$209MOctober 1, 2018: $122.4 millionOctober 1, 2019: $116.7 millionOctober 1, 2020: $126.7 millionOctober 4, 2021: $142.6 millionOctober 3, 2022: $160.9 millionOctober 5, 2023: $145.8 millionOctober 1, 2024: $182.1 millionSeptember 2, 2025: $183.5 millionOctober 2, 2026: $208.6 million
Data table
As ofMedian firm size (RAUM)
October 1, 2018$122.4 million
October 1, 2019$116.7 million
October 1, 2020$126.7 million
October 4, 2021$142.6 million
October 3, 2022$160.9 million
October 5, 2023$145.8 million
October 1, 2024$182.1 million
September 2, 2025$183.5 million
October 2, 2026$208.6 million

The market in North Dakota now

Headline figures

MeasureIndependent RIAsSEC-registeredState-registered
Firms29821
Regulatory assets under management$3.0 billion$2.4 billion$653.1 million
Accounts11,4908,0033,487
Clients5,3693,5011,868
Employees834538
Advisory employees542826
Investment adviser representatives573027
Median RAUM$71.6 million$208.6 million$17.0 million
Average RAUM$121.9 million$299.2 million$38.4 million

Firms by size

Advisers grouped by regulatory assets under management.

MeasureIndependent RIAsSEC-registeredState-registered
Firms under $100 million15015
RAUM of firms under $100 million$441.8 million$0$441.8 million
Firms $100 million to $250 million752
RAUM of firms $100 million to $250 million$1.1 billion$909.8 million$211.2 million
Firms $250 million to $500 million220
RAUM of firms $250 million to $500 million$688.8 million$688.8 million$0
Firms $500 million to $1 billion110
RAUM of firms $500 million to $1 billion$795.3 million$795.3 million$0
Firms $1 billion to $5 billion000
RAUM of firms $1 billion to $5 billion$0$0$0
Firms $5 billion to $10 billion000
RAUM of firms $5 billion to $10 billion$0$0$0
Firms $10 billion and up000
RAUM of firms $10 billion and up$0$0$0

Concentration

How much of the market the largest advisers hold.

MeasureIndependent RIAsState-registered
Top 10 share of RAUM85.5%93.6%

How advisers are paid

Share of advisers reporting each form of compensation on Form ADV Item 5.E. A firm can report several.

How advisers are paid: independent RIAsAs of October 2, 2026.
Charge a percentage of assets 93.1%
Charge hourly fees 62.1%
Charge subscription fees 0.0%
Charge fixed fees 55.2%
Receive commissions 0.0%
Charge performance-based fees 0.0%
Other compensation 17.2%
MeasureIndependent RIAsSEC-registeredState-registered
Charge a percentage of assets93.1%100.0%90.5%
Charge hourly fees62.1%62.5%61.9%
Charge subscription fees0.0%0.0%0.0%
Charge fixed fees55.2%75.0%47.6%
Receive commissions0.0%0.0%0.0%
Charge performance-based fees0.0%0.0%0.0%
Other compensation17.2%12.5%19.0%

Custody

Advisers reporting custody of client cash or securities on Form ADV Item 9.

MeasureIndependent RIAsSEC-registeredState-registered
Have custody34.5%75.0%19.0%

Broker-dealer and other affiliations

From Form ADV Items 6 and 7.

MeasureIndependent RIAsSEC-registeredState-registered
Broker-dealer affiliated0.0%0.0%0.0%

New firms and successions

New registrations and firms reporting that they succeeded to another adviser's business (Form ADV Item 4).

MeasureIndependent RIAsSEC-registeredState-registered
New registrations202
SuccessionsNo data0No data

Other measures

MeasureIndependent RIAsSEC-registeredState-registered
Firms reporting RAUM25817
Discretionary RAUM$3.0 billion$2.4 billion$616.8 million
CFP professionals17143
25th percentile RAUM$12.8 million$184.2 million$7.9 million
75th percentile RAUM$175.5 million$333.9 million$71.6 million
90th percentile RAUM$285.3 million$494.4 million$98.7 million
Average account size$265,185$299,128$187,283
Offer financial planning89.7%100.0%85.7%
RAUM growth, one yearNo data24.3%No data

As of October 2, 2026. Definitions of every measure are on the methodology page.

Cities

Cities with at least five independent RIAs.

Data as of October 2, 2026, from Form ADV. Sources: SEC registered adviser data (ia100226.zip) and IAPD compilation reports. How the directory is built.