Schmidt Wealth Management
Updated today
Data sourced from SEC public records (and other sources when available). Refreshed weekly • Updated today.
Client assets under management
$89,780,665
Clients
68
34% high-net-worth
Advisors
1
of 4 employees
Firm type
Supported
1-4 advisors or >$200M in AUM
Fewer clients per advisor generally means more personalized, proactive service. Higher ratios may reflect streamlined models or lower minimums.
Clients per advisor
68
HighAverage account size
$1,320,304
About
The firm primarily serves individual clients — including a substantial number of high-net-worth households — and also works with businesses, charities, and pension plans; it manages roughly $96 million for about 68 clients and offers financial planning alongside discretionary portfolio management. Financial planning explicitly covers tax, insurance, retirement, and estate planning, while investment work is limited to general securities, mutual funds (including ETFs), and government securities.
The firm’s investment approach emphasizes fundamental analysis of businesses and a conservative, long-term orientation, avoiding frequent trading and tailoring strategies to each client’s financial situation and risk tolerance. Accounts are typically managed on a discretionary basis, reviewed weekly, and the firm recommends an independent custodian for trade execution and client reporting.
Notable distinctions include that the firm’s principal also operates a separate CPA practice and may provide accounting services to advisory clients, a relationship the brochure discloses as a potential conflict of interest. The brochure also highlights insurance planning as part of its services while stating the firm does not accept commissions or maintain securities sales licenses, and it documents a formal succession arrangement to address business continuity.
Client services
Financial planning
Portfolio management
Pension consulting
Expertise
General tax planning
Wealth management
General retirement planning
General estate planning guidance
Fee options
0.05% to 2%, negotiable depending on size and complexity of account
Up to $3,000/hour, negotiable
Fee-only: Written financial plan fees range from $3,000 to $10,000 depending on complexity; hourly fee up to $3,000/hour (negotiable)
Main office location
Schmidt Wealth Management
4650 26 Th Ave S, Ste J
Fargo ND 58104, United States
Number of offices
1
Most active in
Schmidt Wealth Management has reported serving >5 clients in these states in the last 12 months.
Minnesota · North Dakota
Disclosures
Firm disclosures are reported in Form ADV Part 1A, Item 11. They include criminal charges, regulatory actions, civil proceedings, and professional disciplinary events involving the firm or its advisory affiliates.
Exclamation point means they have disclosures of this type. Check mark means no disclosures of this type were found.
Business activities & affiliations
These affiliations may expand the services this firm offers and, in some cases, how they are compensated.
Is active or affiliated with:
Accountant / CPA / tax prep
They offer tax and accounting services, typically for separate fees.
Is not active or affiliated with:
-
Insurance agent
They sell insurance products and may earn commissions on those sales.
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Broker-dealer / trader
They provide brokerage services and may earn transaction-based compensation in addition to advisory fees.
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Bank
They're affiliated with a bank that may offer its own financial products and services.
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Trust company
They provide trust and estate administration services, typically for separate fees.
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Fund sponsor
They manage or sponsor investment funds and may earn management or performance-based fees if clients invest in them.
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Lawyer
They provide legal services, typically billed separately.
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Real estate agent
They facilitate real estate transactions and may earn commissions.
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Other specialized services
They may provide services such as pension consulting or municipal advisory work, typically for separate fees.
Forms ADV
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