Classic Asset Management provides financial planning, portfolio management for individuals and small businesses, and selecting other managers. Financial planning was provided to 1–10 clients last fiscal year.
Classic Asset Management reports 659 clients. They include 602 individual clients and 57 high-net-worth individuals. Of its assets, 99.0% ($187M across 1,337 accounts) are managed with discretion; $1.95M across 9 accounts are not. It advised 4 clients without assets under management last fiscal year.
| Client type | Clients | Assets |
|---|---|---|
| Individuals (other than HNW) | 91% | 64% |
| High-net-worth individuals | 9% | 35% |
| Charitable organizations | Fewer than 5 | 1% |
| Corporations and other businesses | Fewer than 5 | <1% |
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) | 602 | $121M | 64.0% | $201K |
| High-net-worth individuals | 57 | $66M | 34.9% | $1.16M |
| Charitable organizations | Fewer than 5 | $2.11M | 1.1% | — |
| Corporations and other businesses | Fewer than 5 | $85K | 0.0% | — |
| Total | 659 | $189M | 100% | — |
- Clients
- 602
- Regulatory AUM
- $121M
- AUM share
- 64.0%
- Avg. per client
- $201K
- Clients
- 57
- Regulatory AUM
- $66M
- AUM share
- 34.9%
- Avg. per client
- $1.16M
- Clients
- Fewer than 5
- Regulatory AUM
- $2.11M
- AUM share
- 1.1%
- Avg. per client
- —
- Clients
- Fewer than 5
- Regulatory AUM
- $85K
- AUM share
- 0.0%
- Avg. per client
- —
Total
- Clients
- 659
- Regulatory AUM
- $189M
- AUM share
- 100%
- Avg. per client
- —
- Clients outside the U.S.
- 0%
- Clients advised without assets under management last fiscal year
- 4
- Private funds advised
- 0
- Financial planning clients last fiscal year
- 1–10
Classic Asset Management charges 0.50%–2.00% a year for its Portfolio Management Services. 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
- Financial Planning Services
- Financial planning is negotiable: a fixed fee of $250 to $5,000 for broad-based planning, or an hourly fee of $40 to $250.
Classic Holdings, LLC owns 75% or more of Classic Asset Management and is in turn owned by Michael Young (25–50%), Craig Rottman (25–50%) and Douglas Schmitz (25–50%). The leadership team of Classic Asset Management includes Chief Compliance Officer Ashleigh Swayze. It has 10 employees, 4 of them in advisory roles.
Staff
- 10 employees
- 4 in advisory functions
- 4 state-registered reps
- 3 broker-dealer reps
- 3 insurance agents
- Owns 75% or more of Classic Asset Management, LLC
Classic Holdings, LLC
Control person · since January 2013
- Owns 25% to 50% of Classic Holdings, LLC
Michael Young
Control person · since January 2013
- Owns 25% to 50% of Classic Holdings, LLC
Craig Rottman
Control person · since August 2018
- Owns 25% to 50% of Classic Holdings, LLC
Douglas Schmitz
Control person · since January 2013
Classic Asset Management’s regulatory assets grew from $170M (May 2021) to $189M (May 2026); clients fell from 844 to 659 and employees rose from 4 to 10.
Figures from each annual filing
| Filed | Regulatory AUM | Clients | StaffEmployees | Offices |
|---|---|---|---|---|
| May 2026May 2026 | $189M | 659 | 10 | 2 |
| Feb 2025February 2025 | $170M | 659 | 10 | 2 |
| May 2024May 2024 | $182M | 943 | 10 | 2 |
| Jun 2023June 2023 | $158M | 917 | 12 | 2 |
| Jan 2022January 2022 | $180M | 884 | 10 | 1 |
| May 2021May 2021 | $170M | 844 | 4 | 1 |
Besides its headquarters, Classic Asset Management has 1 office, with 2 listed addresses across 2 states.
Colorado · 1 listed address
- 9225 Jewell PL, Lakewood
North Dakota · 1 listed address
- 1220 28th Avenue North, FargoHQ
Contact and registration details
- Legal name
- Classic Asset Management, LLC
- Headquarters
- 1220 28th Avenue North, Fargo, ND 58102
- Website
- finstrat.com
- Phone
- 701-234-0103
- SEC file
- 801-67302
- Structure
- North Dakota LLC
- Fiscal year end
- December
Classic Asset Management’s named custodians for separately managed accounts are Axos Advisor Services ($163M, 86%) and Charles Schwab ($26.2M, 14%). Classic Asset Management has custody of $18.3M for 80 clients.
- Charles SchwabCharles Schwab & Co., Inc. · San Francisco, CA · $26.2M14%
- Axos Advisor ServicesAxos Advisor Services · Centennial, CO · $163M86%
At year end, Classic Asset Management’s separately managed accounts were mostly in funds (92%). Its reported 13F holdings for the quarter ended 31 March 2026 total $598M across 101 positions; the largest are SPDR Series Trust (11.3%), SPDR Series Trust (8.4%) and Fidelity Covington Trust (7.8%).
What the accounts hold
- Stocks3%
- Funds92%
- Bonds1%
- Cash4%
How many clients does Classic Asset Management have?
Classic Asset Management has 659 clients and manages $189 million for them, as of May 2026. They include 602 individual clients and 57 high-net-worth individuals.
Source: Form ADV Part 1A, Items 5.D and 5.F, filed 5 May 2026
What services does Classic Asset Management offer?
Classic Asset Management provides financial planning, portfolio management for individuals and small businesses, and selecting other managers.
Source: Form ADV Part 1A, Item 5.G, from the SEC's 2 October 2026 data file
How much does Classic Asset Management charge?
Classic Asset Management charges 0.50%–2.00% a year for its Portfolio Management Services. The fee is billed in advance and is negotiable.
Source: CLASSIC ASSET MANAGEMENT, LLC ADV BROCHURE, filed 29 January 2026
Which custodians does Classic Asset Management use?
Classic Asset Management’s separately managed account assets are held at Axos Advisor Services (Centennial, CO), with $163M and Charles Schwab & Co., Inc. (San Francisco, CA), with $26.2M. 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 May 2026
How many financial advisors does Classic Asset Management have?
Classic Asset Management has 4 investment adviser representatives registered with state securities authorities, out of 10 employees, and 4 perform investment advisory functions. 3 employees are registered representatives of a broker-dealer and 3 employees are 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 Classic Asset Management invest in?
At the end of its last fiscal year, Classic Asset Management’s separately managed accounts held 92% registered funds (mutual funds, ETFs, BDCs), 4% cash and equivalents, 3% exchange-traded equities and 1% investment grade corporate bonds.
Source: Form ADV Part 1A, Items 5.K.(1) and 7.B, from the SEC's 2 October 2026 data file
Who owns Classic Asset Management?
Classic Asset Management is owned through a holding company by Michael Young, Craig Rottman and Douglas Schmitz. Its direct owner is Classic Holdings, LLC (75% or more).
Source: Form ADV Part 1A, Schedules A and B, filed 5 May 2026
How does Classic Asset Management get paid?
Classic Asset Management 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 Classic Asset Management?
Classic Asset Management’s main office is at 1220 28th Avenue North, Fargo, ND 58102. Its phone number is 701-234-0103. Its website is finstrat.com.
