Compass Financial Services provides financial planning, portfolio management for individuals and small businesses, and portfolio management for institutions. Financial planning was provided to 51–100 clients last fiscal year.
Compass Financial Services reports 1,105 clients. They include 788 individual clients and 317 high-net-worth individuals. Of its assets, 100.0% ($407M across 1,909 accounts) are managed with discretion. A wrap fee program the firm both sponsors and manages holds $407M. It advised 28 clients without assets under management last fiscal year.
| Client type | Clients | Assets |
|---|---|---|
| Individuals (other than HNW) | 71% | 34% |
| High-net-worth individuals | 29% | 65% |
| 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) | 788 | $137M | 33.7% | $174K |
| High-net-worth individuals | 317 | $265M | 65.1% | $837K |
| Charitable organizations | Fewer than 5 | $1.16M | 0.3% | — |
| Corporations and other businesses | Fewer than 5 | $3.68M | 0.9% | — |
| Total | 1,105 | $407M | 100% | — |
- Clients
- 788
- Regulatory AUM
- $137M
- AUM share
- 33.7%
- Avg. per client
- $174K
- Clients
- 317
- Regulatory AUM
- $265M
- AUM share
- 65.1%
- Avg. per client
- $837K
- Clients
- Fewer than 5
- Regulatory AUM
- $1.16M
- AUM share
- 0.3%
- Avg. per client
- —
- Clients
- Fewer than 5
- Regulatory AUM
- $3.68M
- AUM share
- 0.9%
- Avg. per client
- —
Total
- Clients
- 1,105
- Regulatory AUM
- $407M
- AUM share
- 100%
- Avg. per client
- —
- Clients outside the U.S.
- 0%
- Clients advised without assets under management last fiscal year
- 28
- Private funds advised
- 0
- Financial planning clients last fiscal year
- 51–100
Compass Financial Services charges up to 1.75% a year for its Investment Management Fee. 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 and Consulting
- Financial planning and consulting is billed at an hourly rate of $250, is not negotiable, and is payable after the services are provided.
Steven Conard owns 25% to 50% of Compass Financial Services. Justin Van Houten is CEO; the leadership team includes Chief Compliance Officer Caleb Pearson. It has 12 employees, 6 of them in advisory roles.
Leadership
- Justin Van HoutenChief Executive Officer
- Caleb PearsonChief Compliance Officer
- Steven ConardShareholder
- Julie GreerShareholder
- Guy LemanShareholder
Investment adviser representatives
7 representatives listed in the SEC register as of 9 October 2026.
- Michele Ann Bjorkgren
- Steven Anthony Conard
- Alan David Hulstein
- Guy Allen Duane Leman
- Caleb Wellington Pearson
- Steven Kent Tallman
- Justin Edwin Van Houten
Staff
- 12 employees
- 6 in advisory functions
- 6 state-registered reps
- 6 broker-dealer reps
- 6 insurance agents
- Owns 25% to 50% of Compass Financial Services, Inc.
Steven Conard
Control person · since January 2017
- Owns 25% to 50% of Compass Financial Services, Inc.
Justin Van Houten
Control person · since January 2024
- Owns 10% to 25% of Compass Financial Services, Inc.
Caleb Pearson
Control person · since January 2024
- Owns 10% to 25% of Compass Financial Services, Inc.
Julie Greer
since January 2017
- Owns 10% to 25% of Compass Financial Services, Inc.
Guy Leman
Control person · since January 2019
Compass Financial Services’ regulatory assets grew 1.8× from $230M (February 2021) to $407M (April 2026); clients rose from 762 to 1,105 and employees from 10 to 12.
Figures from each annual filing
| Filed | Regulatory AUM | Clients | Employees | Offices |
|---|---|---|---|---|
| April 2026 | $407M | 1,105 | 12 | 1 |
| February 2025 | $334M | 1,061 | 11 | 1 |
| April 2024 | $288M | 1,017 | 12 | 1 |
| March 2023 | $254M | 968 | 12 | 1 |
| May 2022 | $275M | 872 | 11 | 2 |
| February 2021 | $230M | 762 | 10 | 2 |
Besides its headquarters, Compass Financial Services has 0 offices, with 1 listed address in Iowa.
Iowa · 1 listed address
- 4801 Westown Parkway, West Des MoinesHQ
Contact and registration details
- Legal name
- Compass Financial Services, Inc.
- Headquarters
- 4801 Westown Parkway, West Des Moines, IA 50266
- Website
- compassiowa.com
- Phone
- 515-327-1020
- @compassfinancialservices
- SEC file
- 801-118466
- Structure
- Iowa corporation
- Fiscal year end
- December
Compass Financial Services uses LPL Financial ($407M) as custodian for its separately managed accounts. Compass Financial Services has custody of $3.36M in client assets for 11 clients.
- LPL FinancialLPL Financial LLC · Boston, MA · $407M100%
At year end, Compass Financial Services’ separately managed accounts were mostly in funds (95%). Its reported 13F holdings for the quarter ended 30 June 2026 total $268M across 57 positions; the largest are State Street (16.0%), Wisdomtree US (8.3%) and JPMORGAN (7.5%).
What the accounts hold
- Stocks3%
- Funds95%
- Cash2%
Reported 13F holdings
- $268M
- Reported 13F value
- 57
- Positions
- 66.1%
- In the 10 largest
- +15.9%
- Value vs. prior quarter
- State Street · MF Closed And MF Open16.0%
- Wisdomtree US · MF Closed And MF Open8.3%
- JPMORGAN · MF Closed And MF Open7.5%
- Invesco Nasdaq · MF Closed And MF Open6.7%
- Invesco S&P · MF Closed And MF Open5.5%
- JPMORGAN · MF Closed And MF Open5.4%
- First Trust · MF Closed And MF Open5.1%
- State Street · MF Closed And MF Open4.4%
- First Trust · MF Closed And MF Open4.1%
- First Trust · MF Closed And MF Open3.2%
Together, the ten largest are 66.1% of reported value.
How many clients does Compass Financial Services have?
Compass Financial Services has 1,105 clients and manages $407 million for them, as of April 2026. They include 788 individual clients and 317 high-net-worth individuals.
Source: Form ADV Part 1A, Items 5.D and 5.F, filed 28 April 2026
What services does Compass Financial Services offer?
Compass Financial Services provides financial planning, portfolio management for individuals and small businesses, and portfolio management for institutions.
Source: Form ADV Part 1A, Item 5.G, from the SEC's 2 October 2026 data file
How much does Compass Financial Services charge?
Compass Financial Services charges up to 1.75% a year for its Investment Management Fee. The fee is billed in advance and is negotiable.
Which custodians does Compass Financial Services use?
Compass Financial Services’ separately managed account assets are held at LPL Financial LLC (Boston, MA), with $407M. Only custodians holding at least a tenth of those assets are named.
Source: Form ADV Part 1A, Schedule D, Section 5.K.(3), filed 28 April 2026
How many financial advisors does Compass Financial Services have?
Compass Financial Services has 6 investment adviser representatives registered with state securities authorities, out of 12 employees, and 6 perform investment advisory functions. 6 employees are registered representatives of a broker-dealer and 6 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 Compass Financial Services invest in?
At the end of its last fiscal year, Compass Financial Services’ separately managed accounts held 95% registered funds (mutual funds, ETFs, BDCs), 3% exchange-traded equities and 2% cash and equivalents.
Source: Form ADV Part 1A, Items 5.K.(1) and 7.B, from the SEC's 2 October 2026 data file
Who owns Compass Financial Services?
Compass Financial Services’ direct owners are Steven Conard, Caleb Pearson, Julie Greer, Guy Leman and Justin Van Houten, each holding 50% or less.
Source: Form ADV Part 1A, Schedules A and B, filed 28 April 2026
How does Compass Financial Services get paid?
Compass Financial Services is paid through a percentage of assets under management and hourly charges. 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
Is Compass Financial Services registered with the SEC?
Yes, Compass Financial Services has been registered with the SEC as an investment adviser since 21 April 2020. Its CRD number is 109441 and its SEC file number is 801-118466.
Source: Form ADV Part 1A, Item 1, filed 28 April 2026; IAPD firm record
How do I contact Compass Financial Services?
Compass Financial Services’ main office is at 4801 Westown Parkway, West Des Moines, IA 50266. Its phone number is 515-327-1020. Its website is compassiowa.com.