TrueNorth Wealth
Data sourced from SEC public records (and other sources when available). Refreshed weekly • Updated today.
Client AUMClient assets under management
$1,058,896,779
Clients
843
Advisors
11
across 3 offices
About
TrueNorth Wealth (Association Financial Services, Inc., d/b/a TrueNorth Wealth and related names) serves individual and high‑net‑worth clients—frequently physicians, surgeons, business owners, and retirees—as well as corporate retirement plans and institutional clients. The firm offers comprehensive financial planning, investment supervisory services (including both traditional and wrap fee asset management), ERISA plan services, and institutional consulting.
As of January 31, 2026 the firm reported approximately $1.266 billion in assets under management, of which roughly $1.119 billion is managed on a non‑discretionary basis and about $146.1 million is managed discretionarily; for individual accounts the firm does not trade without client consent. Investment implementation relies on asset allocation and portfolio construction practices (including mutual fund/ETF analysis, direct indexing, and long‑ and short‑term strategies) and the firm communicates with clients through regular reviews and custodian reports.
Distinctive features include sponsoring a wrap fee program while also offering non‑wrap accounts, running no‑charge educational seminars and workshops for the public, and distributing quarterly newsletters to clients. The firm also discloses referral arrangements—such as an agreement to pay the Idaho Medical Association five percent of gross annual revenue from referred members and a referral agreement with Wealthramp—and can serve as a discretionary 3(38) investment manager for retirement plans, creating a contrast between its largely non‑discretionary retail AUM and discretionary fiduciary roles for ERISA clients.
Client services
Expertise
Occupation focus
Demographic focus
Fee options
Financial planning fixed fees typically ranging $1,000 to $5,000; Annual flat fee up to $150,000 for some ERISA plan services
$0 - $1,000,000: 0.74% $1,000,000 - $2,000,000: $2,000,000 - $4,000,000: $4,000,000 - $6,000,000: $6,000,000 - $10,000,000: $10,000,000+:
Up to $1,000/hour for financial consulting
Account minimum: $500,000 Fee-only: Hourly consulting fees up to $1,000/hour; Financial planning fees $1,000-$5,000 (fixed fee)
Main office
See office1935 Vine Street, 120
Murray UT 84121
Advisors at this office
9
Offices (3)
Most active in
Arizona · California · Colorado · Connecticut · Idaho · Nebraska · Oregon · Texas · Utah · Washington
Also doing business as
Association Financial Services · Association Financial Services Inc. · Cb Wealth Management · Idaho Medical Association Financial Services · Truenorth Retirement Services · Truenorth Wealth
Disclosures
Exclamation point means they have disclosures of this type. Check mark means no disclosures of this type were found.
Business activities & affiliations
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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Accountant / CPA / tax prep
They offer tax and accounting services, typically for separate fees.
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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.
Quick links
Advisors at this firm
Thomas R
Series 65
San Francisco, CA
TrueNorth Wealth
Thomas Reed is a financial advisor at TrueNorth Wealth in San Francisco, CA, holding a Series 65 credential with three years of industry experience. His prior work includes roles at BRJ Distributing and Gonzaga University. TrueNorth Wealth serves individual and high-net-worth clients, including physicians, surgeons, business owners, and retirees, as well as corporate retirement plans and institutional clients. The firm provides comprehensive financial planning, investment supervisory services, and institutional consulting, with an emphasis on asset allocation, portfolio construction, and regular client communication.
Richard L
Series 65
Boise, ID
TrueNorth Wealth
Richard Lee is a Series 65 licensed advisor at TrueNorth Wealth in Boise, ID, with five years of industry experience. Prior to his financial advisory career, he worked at St. Luke's Health Systems for 20 years. TrueNorth Wealth serves individual and high-net-worth clients—including physicians, surgeons, business owners, and retirees—as well as corporate retirement plans and institutional clients. The firm provides comprehensive financial planning, investment supervisory services, ERISA plan services, and institutional consulting, using a combination of traditional and wrap fee asset management strategies.
Jared E
Series 65
Murray, UT
TrueNorth Wealth
Jared Empey is a financial advisor at TrueNorth Wealth with 10 years of industry experience and holds a Series 65 designation. He has been with TrueNorth Wealth since 2015. TrueNorth Wealth serves individual and high-net-worth clients, including physicians, surgeons, business owners, and retirees, as well as corporate retirement plans and institutional clients. The firm provides comprehensive financial planning and investment supervisory services, utilizing asset allocation, portfolio construction, and regular client communication.
Michael E
CFP®, Series 63, Series 65
Salt Lake City, UT
TrueNorth Wealth
Michael Espinosa is a CFP® professional at TrueNorth Wealth with 10 years of industry experience. He previously worked at Soltis Investment Advisors and The Vanguard Group, Inc. Outside of financial advising, he has experience in home renovation. TrueNorth Wealth serves individual and high-net-worth clients, including physicians, business owners, and retirees, offering comprehensive financial planning, asset management, and institutional consulting with an emphasis on asset allocation and portfolio construction.
Jacob W
Series 65
Salt Lake City, UT
TrueNorth Wealth
Jacob Watkins is a financial advisor at TrueNorth Wealth in Salt Lake City, UT, holding a Series 65 designation with one year of industry experience. Prior to joining TrueNorth Wealth, he worked in welding and the bicycle retail industry and has experience in education roles at Brigham Young University and Bingham High School. TrueNorth Wealth serves individual and high-net-worth clients, including physicians, surgeons, business owners, and retirees, as well as corporate retirement plans and institutional clients. The firm offers comprehensive financial planning and investment supervisory services, emphasizing asset allocation and portfolio construction while maintaining primarily non-discretionary management for individual accounts.
Samuel W
Series 65
Murray, UT
TrueNorth Wealth
Samuel Watkins is a financial advisor at TrueNorth Wealth with nine years of industry experience. He holds a Series 65 credential and has worked at Association Financial Services since 2016. TrueNorth Wealth serves individual and high-net-worth clients, including physicians, surgeons, business owners, retirees, as well as corporate retirement plans and institutional clients. The firm provides comprehensive financial planning, investment supervisory services, ERISA plan services, and institutional consulting, managing over $1.2 billion in assets as of early 2026.
Martin W
CFP®, Series 63, Series 65
Murray, UT
TrueNorth Wealth
Martin Watkins is a CFP® with 24 years of industry experience currently affiliated with TrueNorth Wealth in Murray, UT. He has worked at Association Financial Services Inc., now operating as TrueNorth Wealth, for 20 years. TrueNorth Wealth serves individual and high-net-worth clients, including physicians, surgeons, business owners, and retirees, as well as corporate retirement plans and institutional clients. The firm provides comprehensive financial planning, investment supervisory services, ERISA plan services, and institutional consulting, managing approximately $1.266 billion in assets under management.
C H
Series 65
Murray, UT
TrueNorth Wealth
C Richard Hopkins is a financial advisor at TrueNorth Wealth with nine years of industry experience and a Series 65 credential. He concurrently serves as President of C. Richard Hopkins, MD PC, where he works as a physician. TrueNorth Wealth serves individual and high-net-worth clients, including physicians and business owners, as well as corporate retirement plans and institutional clients. The firm provides comprehensive financial planning and investment supervisory services, utilizing asset allocation and portfolio construction strategies tailored to client needs.
Zachary W
Series 65
Salt Lake City, UT
TrueNorth Wealth
Zachary Whitlock is a financial advisor at TrueNorth Wealth in Salt Lake City, UT, holding a Series 65 license with one year of industry experience. Prior to joining TrueNorth Wealth, he worked briefly at Goldman Sachs and has experience with various organizations including Utah Valley University and LGCY Power, LLC. TrueNorth Wealth serves individual and high-net-worth clients such as physicians, surgeons, business owners, and retirees, as well as corporate retirement plans and institutional clients. The firm provides comprehensive financial planning and investment supervisory services, emphasizing asset allocation and portfolio construction, and offers both wrap fee programs and non-wrap accounts.
Devon D
Series 65
Salt Lake City, UT
TrueNorth Wealth
Devon Duffy is a financial advisor at TrueNorth Wealth with one year of industry experience. He holds a Series 65 designation and has worked at TrueNorth Wealth since 2025. Prior to this, he was employed at NorthRock Companies and has a background that includes roles at Brigham Young University and the Church of Jesus Christ of Latter Day Saints. TrueNorth Wealth serves individual and high-net-worth clients such as physicians, surgeons, business owners, and retirees, as well as corporate retirement plans and institutional clients. The firm provides comprehensive financial planning, investment supervisory services, ERISA plan services, and institutional consulting, emphasizing asset allocation, portfolio construction, and regular client communication.
Carter L
Series 65
Salt Lake City, UT
TrueNorth Wealth
Carter Larsen is a financial advisor at TrueNorth Wealth in Salt Lake City, UT, holding a Series 65 credential with one year of industry experience. His prior work includes roles at Marwood Design, Army ROTC, and Brigham Young University. Larsen has been involved with nonprofit and educational institutions, including the LDS Church and Bentonville High School. TrueNorth Wealth serves individual and high-net-worth clients, including physicians, surgeons, business owners, and retirees, as well as corporate retirement plans and institutional clients. The firm provides comprehensive financial planning and investment supervisory services, emphasizing asset allocation and portfolio construction and maintaining both wrap fee and non-wrap account options.
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