Cross State Financial Group provides financial planning, portfolio management for individuals and small businesses, and selecting other managers.
Cross State Financial Group reports 406 clients. They include 345 individual clients, 50 high-net-worth individuals and 7 charitable organizations. Of its assets, 100.0% ($188M across 1,111 accounts) are managed with discretion. Of its clients, 1% are outside the U.S. It advised 1 client without assets under management last fiscal year.
| Client type | Clients | Assets |
|---|---|---|
| Individuals (other than HNW) | 85% | 55% |
| High-net-worth individuals | 12% | 36% |
| Pension and profit-sharing plans | <1% | 1% |
| Charitable organizations | 2% | 8% |
Client breakdown and activity details
| Client type | Clients | Regulatory AUM | AUM share | Avg. per client |
|---|---|---|---|---|
| Individuals (other than HNW) | 345 | $104M | 55.1% | $301K |
| High-net-worth individuals | 50 | $68.5M | 36.4% | $1.37M |
| Pension and profit-sharing plans | Fewer than 5 | $1.94M | 1.0% | $485K |
| Charitable organizations | 7 | $14.2M | 7.5% | $2.03M |
| Total | 406 | $188M | 100% | — |
- Clients
- 345
- Regulatory AUM
- $104M
- AUM share
- 55.1%
- Avg. per client
- $301K
- Clients
- 50
- Regulatory AUM
- $68.5M
- AUM share
- 36.4%
- Avg. per client
- $1.37M
- Clients
- Fewer than 5
- Regulatory AUM
- $1.94M
- AUM share
- 1.0%
- Avg. per client
- $485K
- Clients
- 7
- Regulatory AUM
- $14.2M
- AUM share
- 7.5%
- Avg. per client
- $2.03M
Total
- Clients
- 406
- Regulatory AUM
- $188M
- AUM share
- 100%
- Avg. per client
- —
- Clients outside the U.S.
- 1%
- Clients advised without assets under management last fiscal year
- 1
- Private funds advised
- 0
- Financial planning clients last fiscal year
- 0
Cross State Financial Group is paid through a percentage of assets under management, hourly charges and fixed fees (other than subscription fees). The reviewed brochures do not disclose an asset-based fee rate. Read the SEC-filed brochure. The brochure also prices one other service, listed under fee details.
Fee details and sources
Other fees
- Financial Planning Services
- Fixed fees of $600 to $5,000 for a written plan, or hourly fees of $100 to $275 with a two-hour minimum; both negotiable.
Steven Iversen owns 50% to 75% of Cross State Financial Group. The leadership team of Cross State Financial Group includes Chief Compliance Officer Danielle Mutz. It has 10 employees.
Leadership
- Danielle MutzManaging Member/Chief Compliance Officer
- Steven IversenMember
Investment adviser representatives
9 representatives listed in the SEC register as of 9 October 2026.
Staff
- 10 employees
- 10 in advisory functions
- 7 state-registered reps
- 4 insurance agents
- Owns 50% to 75% of Cross State Financial Group LLC
Steven Iversen
Control person · since December 2015
- Owns 50% to 75% of Cross State Financial Group LLC
Danielle Mutz
Control person · since December 2015
Cross State Financial Group’s regulatory assets grew 2.0× from $93.5M (February 2021) to $188M (April 2026); clients rose from 252 to 406 and employees from 6 to 10.
Figures from each annual filing
| Filed | Regulatory AUM | Clients | Employees | Offices |
|---|---|---|---|---|
| April 2026 | $188M | 406 | 10 | 8 |
| February 2025 | $167M | 432 | 9 | 9 |
| March 2024 | $145M | 422 | 9 | 8 |
| March 2023 | $117M | 411 | 9 | 7 |
| July 2022 | $113M | 275 | 9 | 7 |
| February 2021 | $93.5M | 252 | 6 | 5 |
Besides its headquarters, Cross State Financial Group has 7 offices (5 private residences, listed without an address), with 3 listed addresses in Arizona, Colorado and New Mexico.
Arizona · 1 listed address
- 430 E. Southern Ave, Tempe
Colorado · 1 listed address
- 8424 S. Yukon St., Littleton
New Mexico · 1 listed address
- 6721 Academy RD. Ne, Suite B, AlbuquerqueHQ
Contact and registration details
- Legal name
- Cross State Financial Group LLC
- Headquarters
- 6721 Academy RD. Ne, Suite B, Albuquerque, NM 87109
- Phone
- 800-621-6974
- SEC file
- 801-117843
- Structure
- Colorado LLC
- Fiscal year end
- December
Cross State Financial Group uses Charles Schwab ($178M) as custodian for its separately managed accounts. Cross State Financial Group has custody of $104M in client assets for 191 clients.
- Charles SchwabCharles Schwab & Co., Inc. · Omaha, NE · $178M100%
At year end, Cross State Financial Group’s separately managed accounts were mostly in funds (68%) and stocks (24%).
What the accounts hold
- Stocks24%
- Funds68%
- Bonds4%
- Investment grade corporate bonds2%
- U.S. government and agency bonds1%
- State and local bonds1%
- Cash6%
How many clients does Cross State Financial Group have?
Cross State Financial Group has 406 clients and manages $188 million for them, as of April 2026. They include 345 individual clients, 50 high-net-worth individuals and 7 charitable organizations.
Source: Form ADV Part 1A, Items 5.D and 5.F, filed 24 April 2026
What services does Cross State Financial Group offer?
Cross State Financial Group 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
Which custodians does Cross State Financial Group use?
Cross State Financial Group’s separately managed account assets are held at Charles Schwab & Co., Inc. (Omaha, NE), with $178M. Only custodians holding at least a tenth of those assets are named.
Source: Form ADV Part 1A, Schedule D, Section 5.K.(3), filed 24 April 2026
How many financial advisors does Cross State Financial Group have?
Cross State Financial Group has 7 investment adviser representatives registered with state securities authorities, out of 10 employees, and 10 perform investment advisory functions. 0 employees are registered representatives of a broker-dealer and 4 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 Cross State Financial Group invest in?
At the end of its last fiscal year, Cross State Financial Group’s separately managed accounts held 68% registered funds (mutual funds, ETFs, BDCs), 24% exchange-traded equities, 6% cash and equivalents, 2% investment grade corporate bonds, 1% U.S. government and agency bonds and 1% state and local bonds.
Source: Form ADV Part 1A, Items 5.K.(1) and 7.B, from the SEC's 2 October 2026 data file
Who owns Cross State Financial Group?
Cross State Financial Group’s direct owners are Steven Iversen (50% to 75%) and Danielle Mutz (50% to 75%).
Source: Form ADV Part 1A, Schedules A and B, filed 24 April 2026
How does Cross State Financial Group get paid?
Cross State Financial Group 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 Cross State Financial Group?
Cross State Financial Group’s main office is at 6721 Academy RD. Ne, Suite B, Albuquerque, NM 87109. Its phone number is 800-621-6974. Its website is crossstatefinancialgrandhaven.com.