State market data

Wealth management firms in North Dakota

As of October 2, 2026, 30 wealth management firms, including broker-dealer firms, based in North Dakota reported $3.1 billion in regulatory assets under management; the largest by assets was Brady Martz Wealth Solutions, LLC, with $795.3 million.

Showing all wealth firms, including wirehouses and broker-dealer firms. Independent RIAs only

Wealth management firms: 30
SEC-registered: 8
State-registered: 22
Regulatory assets under management: $3.1 billion
Client accounts: 11,809
Median firm size: $66.5 million
Of which broker-dealer affiliated: 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 wealth firms by assets under management, including broker-dealer firms

Largest wealth firms by assets under management, including broker-dealer firms in North Dakota, top 10
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 wealth firms over one year, including broker-dealer firms

Fastest-growing wealth firms over one year, including broker-dealer firms in North Dakota, top 10
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 wealth firms over three years, including broker-dealer firms

Fastest-growing wealth firms over three years, including broker-dealer firms in North Dakota, top 10
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 wealth firms over five years, including broker-dealer firms

Fastest-growing wealth firms over five years, including broker-dealer firms in North Dakota, top 10
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

Wealth firms with the biggest asset gains over one year, including broker-dealer firms

Wealth firms with the biggest asset gains over one year, including broker-dealer firms in North Dakota, top 10
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

Wealth firms with the most clients, including broker-dealer firms

Wealth firms with the most clients, including broker-dealer firms in North Dakota, top 10
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

Wealth firms with the fastest client growth over one year, including broker-dealer firms

Wealth firms with the fastest client growth over one year, including broker-dealer firms in North Dakota, top 10
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

Wealth firms with the most accounts, including broker-dealer firms

Wealth firms with the most accounts, including broker-dealer firms in North Dakota, top 10
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

Wealth firms with the most advisory staff, including broker-dealer firms

Wealth firms with the most advisory staff, including broker-dealer firms in North Dakota, top 10
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

Wealth firms with the most high net worth clients, including broker-dealer firms

Wealth firms with the most high net worth clients, including broker-dealer firms in North Dakota, top 10
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	Great Plains Advisory Services LLC Broker-dealer affiliated: A wealth firm that is, or is part of, a broker-dealer or a bank: a wirehouse, a broker-dealer or its advisory arm, or a bank's. It appears in the all wealth firms view, not in the main lists of independent RIAs.	Fargo	92
5	Financial Strategies Group	Fargo	57
6	Wealth Forward, LLC	Fargo	51
7	Fjell Capital	Fargo	48
8	Capital City Wealth Management, Inc.	Bismarck	40
9	Light Financial Services, Inc.	Fargo	33
10	Complete Investment Advisory, LLC	Fargo	31

Top 100 in North Dakota

Wealth firms with the most CFP professionals, including broker-dealer firms

Wealth firms with the most CFP professionals, including broker-dealer firms in North Dakota, top 10
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 wealth firms, including broker-dealer firms

Newest wealth firms, including broker-dealer firms in North Dakota, top 10
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 wealth firms based in North Dakota, from October 2018, each snapshot classed from its own Form ADV answers.

FirmsSEC-registered wealth firms, including broker-dealer firms. 9 snapshots, October 1, 2018 to October 2, 2026.

Data table

Firms
As of	Firms
October 1, 2018	6
October 1, 2019	5
October 1, 2020	5
October 4, 2021	5
October 3, 2022	6
October 5, 2023	7
October 1, 2024	8
September 2, 2025	8
October 2, 2026	8

Regulatory assets under managementSEC-registered wealth firms, including broker-dealer firms. 9 snapshots, October 1, 2018 to October 2, 2026.

Data table

Regulatory assets under management
As of	Regulatory assets under management
October 1, 2018	$1.3 billion
October 1, 2019	$1.4 billion
October 1, 2020	$1.4 billion
October 4, 2021	$1.6 billion
October 3, 2022	$2.0 billion
October 5, 2023	$2.0 billion
October 1, 2024	$2.6 billion
September 2, 2025	$1.9 billion
October 2, 2026	$2.4 billion

Client accountsSEC-registered wealth firms, including broker-dealer firms. 9 snapshots, October 1, 2018 to October 2, 2026.

Data table

Client accounts
As of	Client accounts
October 1, 2018	6,164
October 1, 2019	6,639
October 1, 2020	5,917
October 4, 2021	5,544
October 3, 2022	7,354
October 5, 2023	7,848
October 1, 2024	8,755
September 2, 2025	6,808
October 2, 2026	8,003

Median firm size (RAUM)SEC-registered wealth firms, including broker-dealer firms. 9 snapshots, October 1, 2018 to October 2, 2026.

Data table

Median firm size (RAUM)
As of	Median firm size (RAUM)
October 1, 2018	$152.6 million
October 1, 2019	$141.9 million
October 1, 2020	$146.9 million
October 4, 2021	$165.6 million
October 3, 2022	$174.9 million
October 5, 2023	$154.9 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

Headline figures, as of October 2, 2026
Measure	All wealth firms	SEC-registered	State-registered
Firms	30	8	22
Regulatory assets under management	$3.1 billion	$2.4 billion	$714.5 million
Accounts	11,809	8,003	3,806
Clients	5,543	3,501	2,042
Employees	85	45	40
Advisory employees	56	28	28
Investment adviser representatives	59	30	29
Median RAUM	$66.5 million	$208.6 million	$26.5 million
Average RAUM	$119.6 million	$299.2 million	$39.7 million

Firms by size

Advisers grouped by regulatory assets under management.

Firms by size, as of October 2, 2026
Measure	All wealth firms	SEC-registered	State-registered
Firms under $100 million	16	0	16
RAUM of firms under $100 million	$503.2 million	$0	$503.2 million
Firms $100 million to $250 million	7	5	2
RAUM of firms $100 million to $250 million	$1.1 billion	$909.8 million	$211.2 million
Firms $250 million to $500 million	2	2	0
RAUM of firms $250 million to $500 million	$688.8 million	$688.8 million	$0
Firms $500 million to $1 billion	1	1	0
RAUM of firms $500 million to $1 billion	$795.3 million	$795.3 million	$0
Firms $1 billion to $5 billion	0	0	0
RAUM of firms $1 billion to $5 billion	$0	$0	$0
Firms $5 billion to $10 billion	0	0	0
RAUM of firms $5 billion to $10 billion	$0	$0	$0
Firms $10 billion and up	0	0	0
RAUM of firms $10 billion and up	$0	$0	$0

Concentration

How much of the market the largest advisers hold.

Concentration, as of October 2, 2026
Measure	All wealth firms	State-registered
Top 10 share of RAUM	83.8%	91.9%

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: all wealth firmsAs of October 2, 2026.
Measure	Bar	Value
Charge a percentage of assets		93.3%
Charge hourly fees		63.3%
Charge subscription fees		0.0%
Charge fixed fees		56.7%
Receive commissions		0.0%
Charge performance-based fees		0.0%
Other compensation		16.7%

How advisers are paid, as of October 2, 2026
Measure	All wealth firms	SEC-registered	State-registered
Charge a percentage of assets	93.3%	100.0%	90.9%
Charge hourly fees	63.3%	62.5%	63.6%
Charge subscription fees	0.0%	0.0%	0.0%
Charge fixed fees	56.7%	75.0%	50.0%
Receive commissions	0.0%	0.0%	0.0%
Charge performance-based fees	0.0%	0.0%	0.0%
Other compensation	16.7%	12.5%	18.2%

Custody

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

Custody, as of October 2, 2026
Measure	All wealth firms	SEC-registered	State-registered
Have custody	36.7%	75.0%	22.7%

Broker-dealer and other affiliations

From Form ADV Items 6 and 7.

Broker-dealer and other affiliations, as of October 2, 2026
Measure	All wealth firms	SEC-registered	State-registered
Broker-dealer affiliated	3.3%	0.0%	4.5%

New firms and successions

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

New firms and successions, as of October 2, 2026
Measure	All wealth firms	SEC-registered	State-registered
New registrations	2	0	2
Successions	No data	0	No data

Other measures

Other measures, as of October 2, 2026
Measure	All wealth firms	SEC-registered	State-registered
Firms reporting RAUM	26	8	18
Discretionary RAUM	$3.1 billion	$2.4 billion	$678.2 million
CFP professionals	17	14	3
25th percentile RAUM	$13.6 million	$184.2 million	$8.8 million
75th percentile RAUM	$164.2 million	$333.9 million	$69.0 million
90th percentile RAUM	$275.7 million	$494.4 million	$98.1 million
Average account size	$263,223	$299,128	$187,723
Offer financial planning	86.7%	100.0%	81.8%
RAUM growth, one year	No data	24.3%	No data

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

Cities

Fargo 11 independent RIAs, $1.5 billion
Bismarck 6 independent RIAs, $250.8 million

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.