DFX Intelligence

RIA Intelligence

Registered investment advisers, the advisors registered through them, the capital they report, the private vehicles they run and the people who own them, as a graph with a filing date behind every number. RAUM is what the adviser filed, a move is two registration dates, and a class is a rule you can read.

SEC-registered adviser

Northland Asset Management

Independent wealth managerMinneapolis, MinnesotaCRD 40258SEC 801-96329websiteIAPD
Legal name Northland Securities, Inc.
Latest filing Jun 26, 2026
First filing on the tape Mar 28, 2012 · 39 filings
SEC status approved since May 26, 2015
RAUM
$405M
reported, Item 5.F
Discretionary
96%
of RAUM
Private clients
98%
$399M individuals and HNW
Advisors
40
registered through the firm on IAPD
RAUM per advisor
$10.1M
derived; firm RAUM over IAPD count
Employees
22
22 advisory (5.B.1)
Offices
2
beyond the principal office
Private funds
0
reported on Schedule D
History
39 filings and snapshots on the tape
RAUM$405M as of Jun 26, 2026
Mar 28, 2012$53.6M then
HNW client RAUM$319M as of Jun 26, 2026
Mar 28, 2018$81.6M then
State-registered IARs (5.B.3)22 as of Jun 26, 2026
Mar 28, 20120 then
Employees (5.A)22 as of Jun 26, 2026
Mar 23, 201622 then
Private funds: no history
RAUM +13% over the last fiscal year+26% a year over threeIARs 24 to 22offices 1 to 2
Practice profile
derived from the filing of Jun 26, 2026; every figure names its basis
Archetypes, each a printed rule
  • Bank affiliated · Item 7.A.6 or 7.A.7 (bank or trust company affiliate) and a bank, bancorp or trust company as a 50 percent or greater owner on Schedule A
  • Broker-dealer affiliated · Item 7.A.1 (broker-dealer affiliate) and at least 50 registered representatives (Item 5.B.2), or the adviser is itself a broker-dealer (6.A.1)
  • HNW wealth manager · private-client share of RAUM at least 50 percent and HNW share of private-client RAUM 50 to 90 percent
  • Wrap program sponsor · sponsors a wrap fee program (5.I) with at least $100M of wrap assets
RAUM per advisor
$10.4MderivedRAUM over IAPD advisors; not a book size
Clients per advisor
22derivedindividual and HNW clients (5.D) over advisors
Average HNW client
$659,770derivedHNW RAUM over HNW clients
Average account
$340,172derivedRAUM over accounts (5.F.2.f)
Discretionary
96%derivedof RAUM
Institutional
1.7%derivedpensions, charities, corporations, government, insurance, banks, other advisers
Employees per advisor
0.6derivedItem 5.A over advisors
Advisors per office
13.0derived3 offices incl. principal (1.F.5)
RAUM growth, one year
+13%derivedbetween the last two annual amendments
Advisor growth, one year
-8.3%derivedItem 5.B.3 between annual amendments
Client growth, one year
+11%derived
Compensation
percentage of assets, hourly, fixed fees, otherreportedItem 5.E
Advisory activities
financial planning, portfolio management for individuals, selection of other advisers, otherreportedItem 5.G
Wrap fee program
$259MreportedItem 5.I
Ownership
a bank, bancorp or trust company is a 50 percent or greater ownerderived
Advisor book size
not public; not estimatedreported
Also answered yes on Form ADV
  • is a broker-dealer (6.A.1)
  • is an insurance broker or agent (6.A.6)
  • buys or sells securities as principal to or from clients (8.A.2)
  • has discretionary authority over which securities are bought or sold (8.C.1)
  • controlled by a public reporting company (10.A)
Where the RAUM sits
Form ADV Item 5.D, latest filing
  • High-net-worth individuals$319M79%
  • Individuals$79.2M20%
  • Charitable organizations$3.7M0.9%
  • Pension and profit-sharing plans$3.2M0.8%
Individual clients
391reported
HNW clients
484reported
Pension plan clients
n/areported
Charitable clients
n/areported
Accounts
1,192reported
Financial planning clients
1-10reported
Wrap fee programs
$105M sponsored, $0 managedreported
Custody of client assets
noreported
Compensation
% of AUM, fixed, hourlyreported
Class basis
private_client_share=0.98 fund_share=0.0 institutional_share=0.02 related_bd=true related_bank=false bd_reps=22.0derived
Advisors registered through the firm
39 on IAPD today, longest tenure first
NameBranchHere sinceIn industryPrior firms
James Richard CarlsonMilwaukee, WiApr 8, 200846 y2
Thomas Piper LabelleMinneapolis, MnOct 1, 200925 y3
James Robert ReynoldsMinneapolis, MnNov 4, 200924 y0
Elizabeth Ann JanicekMilwaukee, WiJan 7, 201146 y1
Todd William RadamMinneapolis, MnNov 5, 201341 y1
Daniel Jacob WoogMinneapolis, MnJan 9, 201428 y0
Griffin Joshua NinnemannMinneapolis, MnSep 16, 201412 y0
Jessica Ann MoodyMinneapolis, MnNov 18, 201418 y3
Ryan Edward NagleMinneapolis, MnNov 18, 201416 y0
Amy Marie Steckelberg NovakMinneapolis, MnDec 4, 201516 y2
Craig Donald OstromMilwaukee, WiSep 13, 201630 y1
Jeffrey Joseph SamsChartered Financial AnalystMinneapolis, MnApr 3, 201726 y0
William Beaverson O'ConnorMinneapolis, MnJun 14, 201731 y0
Michael David LeonardMinneapolis, MnOct 12, 201745 y1
Steve David NinnemannMinneapolis, MnApr 23, 201842 y0
Kyle JohnsonMinneapolis, MnJan 7, 201914 y0
Ann Marie CardaMinneapolis, MnMay 18, 201925 y0
Randy Patrick EkenbergMinneapolis, MnSep 27, 201920 y5
Jeffrey David RahmMinneapolis, MnFeb 6, 202040 y1
Scott Louis HefleMilwaukee, WiJan 7, 202227 y5
Timothy Peter BraunMinneapolis, MnJan 27, 202234 y2
Nicholas John NovakChartered Financial AnalystMinneapolis, MnMar 31, 202216 y0
Robert Lee SchnellMinneapolis, MnApr 27, 202212 y1
Matthew SchwarzChartered Financial ConsultantMinneapolis, MnMay 3, 202210 y0
Brent Darwin RipleyMinneapolis, MnJun 21, 202244 y0
Shawn Robert PaulsonMinneapolis, MnJul 22, 202212 y0
Eric Ralph PrallMinneapolis, Mn Dec 8, 202222 y3
Kari Ann WeberMinneapolis, MnJun 16, 202311 y0
Michael Victor ZidanicMilwaukee, WiJul 16, 202432 y3
Paul KernMinneapolis, MnApr 9, 202523 y1
Todd Andrew CzinegeLeawood, Ks Oct 13, 202513 y0
Brian Christopher ThompsonLeawood, KsOct 13, 202535 y2
Bradley A BarclayLeawood, KsOct 13, 202510 y1
Barbara Eileen GilroyGreenwood Village, CoJan 23, 202637 y5
Pete Joseph ZimmermanCertified Financial PlannerOmaha, NeJan 26, 202617 y2
Parker WillisOmaha, Ne Mar 9, 202611 y2
Andrea Lee SpraungelMinneapolis, MnMay 28, 202624 y2
Jack Howard OswaldMinneapolis, MnJun 29, 202611 y0
Gerry Troy BollingerMinneapolis, MnAug 3, 202629 y2
Advisor movement
5 left, 8 joined in 12 months
net +3 in 12 months2 left in 90 days1 joined in 90 daysdeparture rate 13% of current headcount6 left over 36 months
Left, latest
Joined, latest
Every departureEvery arrival
Teams: two or more advisors moving together within fourteen days, from one state
    Teams outTeams in
    Private funds
    No private fund reported.
    Owners and control persons
    Schedule A and B, latest filing
    • Dustin Richard Alden · Chief Financial Officer, Finopcontrol
      since 08/2017 · owns less than 5%
    • Tiffany Dawn Henn · Directorcontrol
      since 05/2023 · owns less than 5%
    • Randy Gene Nitzsche · Ceo, Presidentcontrol
      since 09/2002 · owns 5% to 10%
    • Traci Lee Spanier · Co-Chief Compliance Officercontrol
      since 05/2021 · owns less than 5%
    • Mandy Marie Teigland · Co-Chief Compliance Officercontrol
      since 05/2021 · owns less than 5%
    • David E Cota · Director
      since 05/2023 · owns less than 5%
    • Stephen Curtis Wade · Director
      since 05/2023 · owns less than 5%
    Entity owners
    • Northland Capital Holdings, Inc. · Direct Owner
      direct · owns 75% or more
    • First National Of Nebraska, Inc. · Direct Owner
      indirect · owns 75% or more of Northland Capital Holdings, Inc.
    • First National Bank Of Omaha · Trustee
      indirect · owns 75% or more of John R. Lauritzen Irrevocable Trust
    • John R. Lauritzen Irrevocable Trust · Direct Owner
      indirect · owns 75% or more of Lauritzen Corporation
    • Lauritzen Corporation · Direct Owner
      indirect · owns 25% to 50% of First National Of Nebraska, Inc.
    Related persons
    Schedule D 7.A
    Advisers that list Northland Asset Management as a related person
    Office movement
    IAPD branch city; joins and departures in 12 months
    OfficeAdvisorsJoinedLeftTeams outForming
    Minneapolis, Mn · principal2945
    Milwaukee, Wi500
    Leawood, Ks440
    Omaha, Ne220
    Costa Mesa, Ca000
    Offices
    Schedule D 1.F, the 25 largest
    • Milwaukee, WI7 employees
    What changed
    consecutive filings, newest first
    • Accounts · 1,068 to 1,192
      Oct 10, 2025 to Mar 27, 2026
    • Advisory employees · 24 to 22
      Oct 10, 2025 to Mar 27, 2026
    • BD registered reps · 24 to 22
      Oct 10, 2025 to Mar 27, 2026
    • HNW clients · 425 to 484
      Oct 10, 2025 to Mar 27, 2026
    • Individual clients · 360 to 391
      Oct 10, 2025 to Mar 27, 2026
    • Employees · 24 to 22
      Oct 10, 2025 to Mar 27, 2026
    • State-registered IARs · 24 to 22
      Oct 10, 2025 to Mar 27, 2026
    • Other offices · 1 to 2
      Oct 10, 2025 to Mar 27, 2026
    • Discretionary RAUM · $344M to $387M
      Oct 10, 2025 to Mar 27, 2026
    • HNW RAUM · $286M to $319M
      Oct 10, 2025 to Mar 27, 2026
    • Individual RAUM · $67.8M to $79.2M
      Oct 10, 2025 to Mar 27, 2026
    • Non-discretionary RAUM · $15.5M to $18.2M
      Oct 10, 2025 to Mar 27, 2026
    • Pension RAUM · $2.7M to $3.2M
      Oct 10, 2025 to Mar 27, 2026
    • RAUM · $360M to $405M
      Oct 10, 2025 to Mar 27, 2026
    • Wrap assets (sponsor) · $91.8M to $105M
      Oct 10, 2025 to Mar 27, 2026
    • Financial planning clients · 1-10 to 1-10
      Mar 28, 2025 to Jul 2, 2025
    • Accounts · 826 to 1,068
      Jul 19, 2024 to Mar 28, 2025
    • Advisory employees · 19 to 24
      Jul 19, 2024 to Mar 28, 2025
    • BD registered reps · 19 to 24
      Jul 19, 2024 to Mar 28, 2025
    • HNW clients · 360 to 425
      Jul 19, 2024 to Mar 28, 2025
    • Individual clients · 272 to 360
      Jul 19, 2024 to Mar 28, 2025
    • Employees · 19 to 24
      Jul 19, 2024 to Mar 28, 2025
    • State-registered IARs · 19 to 24
      Jul 19, 2024 to Mar 28, 2025
    • Discretionary RAUM · $229M to $344M
      Jul 19, 2024 to Mar 28, 2025
    • HNW RAUM · $189M to $286M
      Jul 19, 2024 to Mar 28, 2025
    • Individual RAUM · $43.5M to $67.8M
      Jul 19, 2024 to Mar 28, 2025
    • Non-discretionary RAUM · $7.4M to $15.5M
      Jul 19, 2024 to Mar 28, 2025
    • Pension RAUM · $2.3M to $2.7M
      Jul 19, 2024 to Mar 28, 2025
    • RAUM · $237M to $360M
      Jul 19, 2024 to Mar 28, 2025
    • Wrap assets (sponsor) · $57.7M to $91.8M
      Jul 19, 2024 to Mar 28, 2025
    • Accounts · 760 to 826
      Jul 14, 2023 to Mar 28, 2024
    • HNW clients · 223 to 360
      Jul 14, 2023 to Mar 28, 2024
    • Individual clients · 255 to 272
      Jul 14, 2023 to Mar 28, 2024
    • Discretionary RAUM · $193M to $229M
      Jul 14, 2023 to Mar 28, 2024
    • HNW RAUM · $158M to $189M
      Jul 14, 2023 to Mar 28, 2024
    • Individual RAUM · $42.4M to $43.5M
      Jul 14, 2023 to Mar 28, 2024
    • Non-discretionary RAUM · $9.9M to $7.4M
      Jul 14, 2023 to Mar 28, 2024
    • Pension RAUM · $1.5M to $2.3M
      Jul 14, 2023 to Mar 28, 2024
    • RAUM · $203M to $237M
      Jul 14, 2023 to Mar 28, 2024
    • Wrap assets (sponsor) · $48.3M to $57.7M
      Jul 14, 2023 to Mar 28, 2024
    Signals
    23 dated events
    • Kari Ann Weber added a CO registration at Northland Asset Management
      Sep 16, 2026 · New state registration · fact
    • Kyle Johnson added a CO registration at Northland Asset Management
      Sep 16, 2026 · New state registration · fact
    • Seth Norman Kahn left Northland Asset Management for Colliers Securities LLC (registered 2026-09-09)
      Sep 15, 2026 · Advisor changed firm · fact
    • Justin Taylor Damon left Northland Asset Management for Kerberrose Wealth Management, Llc (registered 2026-08-27)
      Aug 27, 2026 · Advisor changed firm · fact
    • Ashraf Farag Hassan left Northland Asset Management for Wells Fargo Advisors (registered 2026-07-02)
      Mar 16, 2026 · Advisor changed firm · fact
    • Bradley Slaughter left Northland Asset Management for Lpl Financial Llc (registered 2026-01-05)
      Jan 8, 2026 · Advisor changed firm · fact
    • Robert Anders Herje left Northland Asset Management for Aegis Capital Corp. (registered 2026-01-05)
      Dec 16, 2025 · Advisor changed firm · fact
    • Northland Asset Management reported RAUM $359.9M, up 52% from $236.7M (2024-07-19 to 2025-03-28)
      Mar 28, 2025 · RAUM change · derived
    • Adam Blake Connors left Northland Asset Management for Commonwealth Family Office (registered 2025-10-31)
      Jan 3, 2024 · Advisor changed firm · fact
    • Michael John Grondahl (Managing Director) no longer on Schedule A of Northland Asset Management (listed 2023-03-20, absent 2023-05-30)
      May 30, 2023 · Control person left · inference
    • Tiffany Dawn Henn (Director) appeared on Schedule A of Northland Asset Management
      May 30, 2023 · Control person joined · fact
    • Glen Albert Taylor (Owner) no longer on Schedule A of Northland Asset Management (listed 2023-03-20, absent 2023-05-30)
      May 30, 2023 · Control person left · inference
    • Robert Louis Johnson (Director) no longer on Schedule A of Northland Asset Management (listed 2023-03-20, absent 2023-05-30)
      May 30, 2023 · Control person left · inference
    • James Lowell Kubik (Director) no longer on Schedule A of Northland Asset Management (listed 2023-03-20, absent 2023-05-30)
      May 30, 2023 · Control person left · inference
    • Quinetta D. Anato-Mensah left Northland Asset Management for Fidelity Personal And Workplace Advisors (registered 2024-02-09)
      Feb 22, 2023 · Advisor changed firm · fact
    • Mandy Marie Teigland (Co-Chief Compliance Officer) appeared on Schedule A of Northland Asset Management
      May 27, 2021 · Control person joined · fact
    • Janie Sue Pedersen (Chief Compliance Officer) no longer on Schedule A of Northland Asset Management (listed 2021-03-29, absent 2021-05-27)
      May 27, 2021 · Control person left · inference
    • Traci Lee Spanier (Co-Chief Compliance Officer) appeared on Schedule A of Northland Asset Management
      May 27, 2021 · Control person joined · fact
    • James Lowell Kubik (Director) appeared on Schedule A of Northland Asset Management
      Mar 30, 2020 · Control person joined · fact
    • John Mark Schumacher (Director) no longer on Schedule A of Northland Asset Management (listed 2019-03-08, absent 2020-03-30)
      Mar 30, 2020 · Control person left · inference
    • Thomas Joseph Bartzen (Evp, Muni Principal, & Director) no longer on Schedule A of Northland Asset Management (listed 2019-01-18, absent 2019-03-08)
      Mar 8, 2019 · Control person left · inference
    • Robert Louis Johnson (Director) appeared on Schedule A of Northland Asset Management
      Mar 8, 2019 · Control person joined · fact
    • Northland Asset Management filed its initial SEC registration (Form ADV)
      May 15, 2015 · First SEC registration · fact
    Across DFX
    shared identifiers only, never a name match
    How to reach
    public business contact points only, each with its source
    Firm profile
    LINKEDIN.COM/COMPANY-BETA/49931reportedpublic record, Form ADV, Sep 17, 2026
    Website
    NORTHLANDSECURITIES.COMreportedpublic record, Form ADV, Sep 17, 2026
    Principal office phone
    800-851-2920reportedpublic record, Form ADV, Jun 26, 2026
    Provenance
    Form ADV
    SEC filing data 2011 to 2024 and the monthly roster 2025 onreportedadviserinfo.sec.gov
    Advisors
    IAPD individual compilation feed, dailyreportedadviserinfo.sec.gov
    Class
    Independent wealth managerderiveda rule over Items 5.D and 7.A
    RAUM per advisor
    $10.1Mderivedfirm RAUM over the IAPD count; not a book size
    Loaded
    Sep 14, 2026