Schmidt Wealth Management
Data sourced from SEC public records (and other sources when available). Refreshed weekly • Updated today.
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
Expertise
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
4650 26 Ave S, Suite J
Fargo ND 58104
Advisors at this office
1
Most active in
Minnesota · North Dakota
Also doing business as
James A Schmidt Inc. Dba Schmidt Wealth Management · James A Schmidt, Inc · James A Schmidt, Inc. · Schmidt Wealth Management
Disclosures
Exclamation point means they have disclosures of this type. Check mark means no disclosures of this type were found.
Business activities & affiliations
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:
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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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