Client First Investment Management provides financial planning and portfolio management for individuals and small businesses. Financial planning was provided to 608 clients last fiscal year.
Client First Investment Management reports 608 clients. They include 529 individual clients, 67 high-net-worth individuals and 9 charitable organizations. Of its assets, 100.0% ($272M across 1,578 accounts) are managed with discretion. A wrap fee program the firm both sponsors and manages holds $212M. It advised 8 clients without assets under management last fiscal year.
| Client type | Clients | Assets |
|---|---|---|
| Individuals (other than HNW) | 87% | 21% |
| High-net-worth individuals | 11% | 15% |
| Investment companies | <1% | 63% |
| Charitable organizations | 1% | <1% |
| Corporations and other businesses | <1% | <1% |
Client breakdown and activity details
| Client type | Clients | Regulatory AUM | AUM share | Avg. per client |
|---|---|---|---|---|
| Individuals (other than HNW) | 529 | $57.3M | 21.1% | $108K |
| High-net-worth individuals | 67 | $41.8M | 15.4% | $624K |
| Investment companies | 1 | $172M | 63.2% | $172M |
| Charitable organizations | 9 | $1.07M | 0.4% | $119K |
| Corporations and other businesses | Fewer than 5 | $9.99K | 0.0% | $5K |
| Total | 608 | $272M | 100% | — |
- Clients
- 529
- Regulatory AUM
- $57.3M
- AUM share
- 21.1%
- Avg. per client
- $108K
- Clients
- 67
- Regulatory AUM
- $41.8M
- AUM share
- 15.4%
- Avg. per client
- $624K
- Clients
- 1
- Regulatory AUM
- $172M
- AUM share
- 63.2%
- Avg. per client
- $172M
- Clients
- 9
- Regulatory AUM
- $1.07M
- AUM share
- 0.4%
- Avg. per client
- $119K
- Clients
- Fewer than 5
- Regulatory AUM
- $9.99K
- AUM share
- 0.0%
- Avg. per client
- $5K
Total
- Clients
- 608
- Regulatory AUM
- $272M
- AUM share
- 100%
- Avg. per client
- —
- Clients outside the U.S.
- 0%
- Clients advised without assets under management last fiscal year
- 8
- Private funds advised
- 0
- Financial planning clients last fiscal year
- 608
Client First Investment Management is paid through a percentage of assets under management, hourly charges and fixed fees (other than subscription fees); its fees and minimums are set out in its brochures on the SEC website.
Rock Point Partners, LLC owns 75% or more of Client First Investment Management and is in turn owned by Justin Krueger (25–50%), David Zarling (25–50%) and Paul Zarling (25–50%). The leadership team of Client First Investment Management includes Chief Compliance Officer Paul Zarling. It has 16 employees, 6 of them in advisory roles.
Leadership
- Paul ZarlingManaging Partner & Chief Compliance Officer
- Justin KruegerPartner, Head of Financial Planning
- David ZarlingPartner, Head of Investment Strategy and Research
Investment adviser representatives
8 representatives listed in the SEC register as of 9 October 2026.
- Bradley Calvin Draeger
- Logan M Draeger
- Kevin Firari
- Justin Wayne Krueger
- Ian Thomas McMillan
- Cade Patrick Miskimen
- David Frederic Zarling
- Paul Zarling
Staff
- 16 employees
- 6 in advisory functions
- 6 state-registered reps
- 3 insurance agents
- Owns 75% or more of Client First Investment Management LLC
Rock Point Partners, LLC
Control person · since December 2015
- Owns 25% to 50% of Rock Point Partners, LLC
Justin Krueger
Control person · since December 2015
- Owns 25% to 50% of Rock Point Partners, LLC
David Zarling
Control person · since December 2015
- Owns 25% to 50% of Rock Point Partners, LLC
Paul Zarling
Control person · since December 2015
Client First Investment Management’s regulatory assets grew 2.2× from $126M (July 2022) to $272M (February 2026); clients rose from 407 to 608 and employees from 14 to 16.
Figures from each annual filing
| Filed | Regulatory AUM | Clients | Employees | Offices |
|---|---|---|---|---|
| February 2026 | $272M | 608 | 16 | 2 |
| May 2025 | $184M | 586 | 16 | 2 |
| June 2024 | $126M | 479 | 14 | 4 |
| August 2023 | $128M | 481 | 15 | 4 |
| July 2022 | $126M | 407 | 14 | 3 |
Besides its headquarters, Client First Investment Management has 1 office, with 2 listed addresses in North Carolina and Wisconsin.
North Carolina · 1 listed address
- 10321 Solar Way, Charlotte
Wisconsin · 1 listed address
- 215 N. Main Street, Suite 1040, West BendHQ
Contact and registration details
- Legal name
- Client First Investment Management LLC
- Headquarters
- 215 N. Main Street, Suite 1040, West Bend, WI 53095
- Website
- clientfirsttaxandwealth.com
- Phone
- 262-335-1700
- SEC file
- 801-123113
- Structure
- Wisconsin LLC
- Fiscal year end
- December
Client First Investment Management uses Charles Schwab ($212M, 55%) and US Bank Global Fund Services ($172M, 45%) as custodians for its separately managed accounts. Client First Investment Management does not have custody of client assets.
The filed custodian amounts total more than regulatory assets under management. Each amount is shown as filed.
- Charles SchwabCharles Schwab & Co., Inc. · Westlake, TX · $212M55%
- US Bank Global Fund ServicesUS Bank Global Fund Services · Milwaukee, WI · $172M45%
At year end, Client First Investment Management’s separately managed accounts were mostly in funds (91%). Its reported 13F holdings for the quarter ended 30 June 2026 total $237M across 28 positions; the largest are Series Portfolios TR (50.2%), Proshares TR (15.5%) and EA Series Trust (7.6%).
What the accounts hold
- Stocks2%
- Funds91%
- Bonds2%
- State and local bonds1%
- Investment grade corporate bonds1%
- Cash5%
Reported 13F holdings
- $237M
- Reported 13F value
- 28
- Positions
- 87.4%
- In the 10 largest
- +23.4%
- Value vs. prior quarter
- Series Portfolios TR · Adaptiv Select50.2%
- Proshares TR · Pshs Ult S&P 50015.5%
- EA Series Trust · Alpha Arch 1-37.6%
- Proshares TR · Pshs Ultruss20003.4%
- Pgim ETF TR · Pgim Ultra SH BD3.1%
- Direxion Shares ETF Trust · Dai Sem Bul ETF1.7%
- iShares TR · Faln Angls Usd1.6%
- Virtus ETF TR II · Stone Harbor Emg1.6%
- Pacer Fds TR · Arist High ETF1.5%
- Calamos ETF TR · Convertible Eqty1.3%
Together, the ten largest are 87.4% of reported value.
How many clients does Client First Investment Management have?
Client First Investment Management has 608 clients and manages $272 million for them, as of February 2026. They include 529 individual clients, 67 high-net-worth individuals and 9 charitable organizations.
Source: Form ADV Part 1A, Items 5.D and 5.F, filed 11 February 2026
What services does Client First Investment Management offer?
Client First Investment Management 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
Which custodians does Client First Investment Management use?
Client First Investment Management’s separately managed account assets are held at Charles Schwab & Co., Inc. (Westlake, TX), with $212M and US Bank Global Fund Services (Milwaukee, WI), with $172M. Only custodians holding at least a tenth of those assets are named.
Source: Form ADV Part 1A, Schedule D, Section 5.K.(3), filed 11 February 2026
How many financial advisors does Client First Investment Management have?
Client First Investment Management has 6 investment adviser representatives registered with state securities authorities, out of 16 employees, and 6 perform investment advisory functions. 0 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 Client First Investment Management invest in?
At the end of its last fiscal year, Client First Investment Management’s separately managed accounts held 91% registered funds (mutual funds, ETFs, BDCs), 5% cash and equivalents, 2% exchange-traded equities, 1% state and local bonds 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 Client First Investment Management?
Client First Investment Management is owned through a holding company by Justin Krueger and David and Paul Zarling. Its direct owner is Rock Point Partners, LLC (75% or more).
Source: Form ADV Part 1A, Schedules A and B, filed 11 February 2026
How does Client First Investment Management get paid?
Client First Investment 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 Client First Investment Management?
Client First Investment Management’s main office is at 215 N. Main Street, Suite 1040, West Bend, WI 53095. Its phone number is 262-335-1700. Its website is clientfirsttaxandwealth.com.