Cladis Investment Advisory provides financial planning and portfolio management for individuals and small businesses. Financial planning was provided to 1–10 clients last fiscal year.
Cladis Investment Advisory reports 119 clients. They include 68 individual clients, 46 high-net-worth individuals and 5 charitable organizations. Of its assets, 99.7% ($242M across 271 accounts) are managed with discretion; $650K across 3 accounts are not. It advised 6 clients without assets under management last fiscal year.
| Client type | Clients | Assets |
|---|---|---|
| Individuals (other than HNW) | 57% | 11% |
| High-net-worth individuals | 39% | 51% |
| Charitable organizations | 4% | 21% |
| Corporations and other businesses | Fewer than 5 | 16% |
Client shares use reported counts. Client types without a reported count are excluded from that total.
Client breakdown and activity details
| Client type | Clients | Regulatory AUM | AUM share | Avg. per client |
|---|---|---|---|---|
| Individuals (other than HNW) | 68 | $27.3M | 11.3% | $402K |
| High-net-worth individuals | 46 | $124M | 51.0% | $2.69M |
| Charitable organizations | 5 | $51.8M | 21.3% | $10.4M |
| Corporations and other businesses | Fewer than 5 | $39.8M | 16.4% | — |
| Total | 119 | $243M | 100% | — |
- Clients
- 68
- Regulatory AUM
- $27.3M
- AUM share
- 11.3%
- Avg. per client
- $402K
- Clients
- 46
- Regulatory AUM
- $124M
- AUM share
- 51.0%
- Avg. per client
- $2.69M
- Clients
- 5
- Regulatory AUM
- $51.8M
- AUM share
- 21.3%
- Avg. per client
- $10.4M
- Clients
- Fewer than 5
- Regulatory AUM
- $39.8M
- AUM share
- 16.4%
- Avg. per client
- —
Total
- Clients
- 119
- Regulatory AUM
- $243M
- AUM share
- 100%
- Avg. per client
- —
- Clients outside the U.S.
- 0%
- Clients advised without assets under management last fiscal year
- 6
- Private funds advised
- 0
- Financial planning clients last fiscal year
- 1–10
Cladis Investment Advisory charges 0.75%–1.25% a year for its Portfolio management. The fee is billed in advance and is negotiable. The brochure also prices one other service, listed under fee details.
Fee details and sources
Other fees
- Consultation services
- Financial planning and investment advice through consultation is billed at $200 per hour, due when the written recommendations report is delivered.
Nicholas Cladis owns 25% to 50% of Cladis Investment Advisory. The leadership team of Cladis Investment Advisory includes Chief Compliance Officer Nicholas Cladis. It has 3 employees.
Staff
- 3 employees
- 3 in advisory functions
- 3 state-registered reps
- Owns 25% to 50% of Cladis Investment Advisory LLC
Nicholas Cladis
Control person · since April 2010
- Owns 25% to 50% of Cladis Investment Advisory LLC
Tracy Hawbaker
Control person · since January 2022
- Owns 25% to 50% of Cladis Investment Advisory LLC
Fortin Enterprises, Inc
since March 2025
Cladis Investment Advisory’s regulatory assets grew 2.2× from $112M (June 2022) to $243M (March 2026); clients rose from 94 to 119 and employees were 3 in both filings.
Figures from each annual filing
| Filed | Regulatory AUM | Clients | StaffEmployees | Offices |
|---|---|---|---|---|
| Mar 2026March 2026 | $243M | 119 | 3 | 1 |
| Mar 2025March 2025 | $207M | 117 | 2 | 1 |
| Mar 2024March 2024 | $140M | 110 | 2 | 1 |
| Apr 2023April 2023 | $105M | 97 | 2 | 1 |
| Jun 2022June 2022 | $112M | 94 | 3 | 1 |
Besides its headquarters, Cladis Investment Advisory has 0 offices, with 1 listed address in 1 state.
Montana · 1 listed address
- 180 S. 32nd St. West, Suite 1, BillingsHQ
Contact and registration details
- Legal name
- Cladis Investment Advisory LLC
- Headquarters
- 180 S. 32nd St. West, Suite 1, Billings, MT 59102
- Website
- cladisadvisory.com
- Phone
- 406-259-4939
- SEC file
- 801-126137
- Structure
- Montana LLC
- Fiscal year end
- December
Cladis Investment Advisory’s named custodians for separately managed accounts are Wells Fargo Clearing Services ($215M, 89%) and J.P. Morgan ($26.1M, 11%). Cladis Investment Advisory does not have custody of client assets.
- J.P. MorganJ.P. Morgan Securities LLC · New York, NY · $26.1M11%
- Wells Fargo Clearing ServicesWells Fargo Clearing Services, LLC · St. Louis, MO · $215M89%
At year end, Cladis Investment Advisory’s separately managed accounts were mostly in stocks (74%) and funds (24%). Its reported 13F holdings for the quarter ended 30 June 2026 total $214M across 173 positions; the largest are Apple Inc. (7.2%), Nvidia Corp. (4.4%) and GE Vernova Inc. (2.6%).
What the accounts hold
- Stocks74%
- Exchange-traded equities73%
- Non-exchange-traded equities1%
- Funds24%
- Cash2%
How many clients does Cladis Investment Advisory have?
Cladis Investment Advisory has 119 clients and manages $243 million for them, as of March 2026. They include 68 individual clients, 46 high-net-worth individuals and 5 charitable organizations.
Source: Form ADV Part 1A, Items 5.D and 5.F, filed 5 March 2026
What services does Cladis Investment Advisory offer?
Cladis Investment Advisory provides financial planning and portfolio management for individuals and small businesses.
Source: Form ADV Part 1A, Item 5.G, from the SEC's 2 October 2026 data file
How much does Cladis Investment Advisory charge?
Cladis Investment Advisory charges 0.75%–1.25% a year for its Portfolio management. The fee is billed in advance and is negotiable.
Source: 2026 0302 CLADIS INVESTMENT ADVISORY FORM ADV BROCHURE, filed 5 March 2026
Which custodians does Cladis Investment Advisory use?
Cladis Investment Advisory’s separately managed account assets are held at Wells Fargo Clearing Services, LLC (St. Louis, MO), with $215M and J.P. Morgan Securities LLC (New York, NY), with $26.1M. Only custodians holding at least a tenth of those assets are named.
Source: Form ADV Part 1A, Schedule D, Section 5.K.(3), filed 5 March 2026
How many financial advisors does Cladis Investment Advisory have?
Cladis Investment Advisory has 3 investment adviser representatives registered with state securities authorities, out of 3 employees, and 3 perform investment advisory functions. None are registered representatives of a broker-dealer or licensed insurance agents.
Source: Form ADV Part 1A, Items 5.A and 5.B, from the SEC's 2 October 2026 data file
What does Cladis Investment Advisory invest in?
At the end of its last fiscal year, Cladis Investment Advisory’s separately managed accounts held 73% exchange-traded equities, 24% registered funds (mutual funds, ETFs, BDCs), 2% cash and equivalents and 1% non-exchange-traded equities.
Source: Form ADV Part 1A, Items 5.K.(1) and 7.B, from the SEC's 2 October 2026 data file
Who owns Cladis Investment Advisory?
Cladis Investment Advisory’s direct owners are Nicholas Cladis, Tracy Hawbaker and Fortin Enterprises, Inc, each holding 50% or less.
Source: Form ADV Part 1A, Schedules A and B, filed 5 March 2026
How does Cladis Investment Advisory get paid?
Cladis Investment Advisory is paid through a percentage of assets under management, hourly charges and fixed fees. Its Form ADV lists no commissions or performance-based fees among how it is paid.
Source: Form ADV Part 1A, Item 5.E, from the SEC's 2 October 2026 data file
How do I contact Cladis Investment Advisory?
Cladis Investment Advisory’s main office is at 180 S. 32nd St. West, Suite 1, Billings, MT 59102. Its phone number is 406-259-4939. Its website is cladisadvisory.com.
