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Carl M. Hennig, Inc.

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Client assets under management

$27,600,000

Clients

30

0% high-net-worth

Advisors

3

of 3 employees

Firm type

Supported

1-4 advisors or >$200M in AUM

More info

Clients per advisor

10

Very Low

Average account size

$920,000

About

Carl M. Hennig, Inc. is a small SEC‑registered broker‑dealer and state‑registered investment adviser with two advisory representatives overseeing roughly 24 advisory clients and about $24.7 million in reported assets. The firm offers two service packages: a referral‑based advisory arrangement that places brokerage clients into third‑party programs and an in‑house, non‑discretionary advisory service covering equities, fixed income, REITs, mutual funds and ETFs.

The firm primarily provides non‑discretionary recommendations, requiring client authorization for each trade, and monitors third‑party managers on an ongoing basis. For referral clients CMH places accounts into several RBC Capital Markets programs (RBC UP, RBC Advisor, Consulting Solutions) that use overlay or third‑party money managers, while CMH retains oversight and delivers periodic written reports.

Noteworthy aspects compared with peers include its primary role as a broker‑dealer (brokerage activities account for the majority of firm time and income) and that advisory revenue is reported to be less than half of total revenue; CMH also accepts 12b‑1 fees and receives a portion of fees from referred advisers. The firm discloses two regulatory items in its history (FINRA/NASD actions in 2005 related to compliance and AML oversight and a 1987 trade‑reporting matter) and maintains mainly non‑discretionary AUM (24 non‑discretionary accounts totaling about $23.7M as of December 31, 2024).

Client services

Selection of other advisers
Portfolio monitoring, accounting and reporting

Expertise

Real estate investing

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Fee options

Percentage

$0+: 0.5% to 3.0% annually, negotiable and inclusive of transaction fees for RBC Programs $0+: 0.5% to 3.0% annually, negotiable for Managed Account program, not inclusive of third-party management fees

Commissions

Firm is primarily a broker dealer and earns commissions and 12b-1 fees from mutual fund sales separate from advisory fees

Other

Account minimum: $1,000,000 for service package 1 (due to typical client profile, not firm requirement), $10,000 for service package 2 (not a firm requirement) Minimum fee: Minimum fee per account of $125 annually for RBC programs; $300 annually for Managed Account program

Main office location

Carl M. Hennig, Inc.

206 N Main Street

Oshkosh WI 54901-4815, United States

Number of offices

1

Most active in

More info

Wisconsin

Disclosures

More info

Exclamation point means they have disclosures of this type. Check mark means no disclosures of this type were found.

Business activities & affiliations

More info

Forms ADV

Form ADV Part 2: Client Brochure Form ADV Part 3: Client Relationship

Quick links

920-231-6630

Advisors at this firm

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Darin W

Series 63, Series 66

Oshkosh, WI

Carl M. Hennig, Inc.

Darin Walter is an advisor at Carl M. Hennig, Inc. based in Oshkosh, WI. He holds Series 63 and Series 66 licenses and has worked at RBC Capital Markets since 2013. Carl M. Hennig, Inc. is a small SEC-registered broker-dealer and state-registered investment adviser serving roughly 24 clients with about $24.7 million in assets. The firm primarily provides non-discretionary advisory services and places brokerage clients into third-party programs while maintaining oversight and delivering regular reports.

Real estate investing
user avatar

Ryan G

Series 63, Series 65

Oshkosh, WI

Carl M. Hennig, Inc.

Ryan Gravunder is an advisor at Carl M. Hennig, Inc. based in Oshkosh, WI, holding Series 63 and Series 65 licenses. He has worked in insurance and related fields since 2014, including roles at All In One Insurance Group and Caren Reich State Farm Agency. Carl M. Hennig, Inc. is a small SEC-registered broker-dealer and state-registered investment adviser serving approximately 24 clients with about $24.7 million in assets. The firm provides non-discretionary advisory services and referral-based brokerage arrangements, overseeing third-party money managers and offering investment recommendations across various asset classes.

Real estate investing
user avatar

Kurt C

Series 63, Series 65

Oshkosh, WI

Carl M. Hennig, Inc.

Kurt Caramanidis is a financial advisor with Carl M. Hennig, Inc. in Oshkosh, WI, holding Series 63 and 65 credentials and having 25 years of industry experience. He has been with Carl M. Hennig, Inc. since 2009 and has worked with Northwestern Mutual Investment Management and Northwestern Mutual, Inc. since 2000. Carl M. Hennig, Inc. is a small SEC-registered broker-dealer and state-registered investment adviser serving about 24 clients with $24.7 million in reported assets. The firm primarily delivers non-discretionary advisory services and referral-based arrangements, overseeing third-party managers and offering investments across equities, fixed income, REITs, mutual funds, and ETFs.

Real estate investing
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