Diversified Management provides financial planning, portfolio management for individuals and small businesses, and selecting other managers. Financial planning was provided to 101–250 clients last fiscal year.
Diversified Management reports 340 clients. They include 212 high-net-worth individuals, 127 individual clients and 1 charitable organization. Of its assets, 92.9% ($1.73B across 1,423 accounts) are managed with discretion; $133M across 227 accounts are not.
| Client type | Clients | Assets |
|---|---|---|
| Individuals (other than HNW) | 37% | 3% |
| High-net-worth individuals | 62% | 91% |
| Charitable organizations | <1% | 6% |
Client breakdown and activity details
| Client type | Clients | Regulatory AUM | AUM share | Avg. per client |
|---|---|---|---|---|
| Individuals (other than HNW) | 127 | $53M | 2.8% | $417K |
| High-net-worth individuals | 212 | $1.7B | 90.8% | $8M |
| Charitable organizations | 1 | $118M | 6.3% | $118M |
| Total | 340 | $1.87B | 100% | $5.49M |
- Clients
- 127
- Regulatory AUM
- $53M
- AUM share
- 2.8%
- Avg. per client
- $417K
- Clients
- 212
- Regulatory AUM
- $1.7B
- AUM share
- 90.8%
- Avg. per client
- $8M
- Clients
- 1
- Regulatory AUM
- $118M
- AUM share
- 6.3%
- Avg. per client
- $118M
Total
- Clients
- 340
- Regulatory AUM
- $1.87B
- AUM share
- 100%
- Avg. per client
- $5.49M
- Clients outside the U.S.
- 0%
- Clients advised without assets under management last fiscal year
- 0
- Private funds advised
- 0
- Financial planning clients last fiscal year
- 101–250
Diversified Management charges 0.25%–1.25% a year for its Investment advisory services. Each asset band is charged at its own rate. The fee is billed in arrears and is negotiable.
| Asset band | Annual rate |
|---|---|
| $0–$500K | 1.25% |
| $500K–$2M | 1.00% |
| $2M–$4M | 0.75% |
| $4M–$10M | 0.50% |
| $10M and above | 0.25% |
Fee details and sources
Michael Schmidt owns 25% to 50% of Diversified Management. The leadership team of Diversified Management includes President Garren Agle, Chief Investment Officer Michael Egan and Chief Financial Officer Chad Thistle. It has 8 employees, 6 of them in advisory roles.
Leadership
- Garren AgleVice President & Chief Information Officer
- Michael SchmidtChairman, President and Chief Compliance Officer
- Chad ThistleChief Financial Officer
- Michael EganManaging Director and Chief Investment Officer
Investment adviser representatives
6 representatives listed in the SEC register as of 9 October 2026.
- Garren Lindsay Agle
- Guy Matthew Eckman
- Michael Patrick Egan
- Kylee J. Paradowski
- Michael Paul Schmidt
- Chad Andrew Thistle
Staff
- 8 employees
- 6 in advisory functions
- 6 state-registered reps
- 1 soliciting firm
- Owns 25% to 50% of Diversified Management Inc
Michael Schmidt
Control person · since March 2017
- Owns 10% to 25% of Diversified Management Inc
Michael Egan
Control person · since March 2017
- Owns 10% to 25% of Diversified Management Inc
Chad Thistle
Control person · since January 2009
- Owns 10% to 25% of Diversified Management Inc
Garren Agle
Control person · since March 2017
Diversified Management’s regulatory assets grew from $1.36B (March 2021) to $1.87B (March 2026); clients rose from 309 to 340 and employees were 8 in both filings.
Figures from each annual filing
| Filed | Regulatory AUM | Clients | Employees | Offices |
|---|---|---|---|---|
| March 2026 | $1.87B | 340 | 8 | 2 |
| March 2025 | $1.69B | 366 | 8 | 2 |
| May 2024 | $1.58B | 363 | 7 | 2 |
| July 2023 | $1.44B | 352 | 7 | 2 |
| June 2022 | $1.58B | 341 | 8 | 2 |
| March 2021 | $1.36B | 309 | 8 | 2 |
Besides its headquarters, Diversified Management has 1 office, with 2 listed addresses in Arizona and Wisconsin.
Arizona · 1 listed address
- 16427 N. Scottsdale RD., Scottsdale
Wisconsin · 1 listed address
- 330 E. Kilbourn Ave., Suite 1475, MilwaukeeHQ
Other business names
Diversified Management has reported 1 other business name to the SEC.
- Cream City Investment Services
Contact and registration details
- Legal name
- Diversified Management Inc
- Headquarters
- 330 E. Kilbourn Ave., Suite 1475, Milwaukee, WI 53202
- Website
- diversifiedmanagement.com
- Phone
- 414-292-1900
- @diversified-management-inc.
- SEC file
- 801-46436
- Structure
- Wisconsin corporation
- Fiscal year end
- December
Diversified Management uses Charles Schwab ($1.7B) as custodian for its separately managed accounts. Diversified Management has custody of $740M in client assets for 164 clients.
- Charles SchwabCharles Schwab & Co., Inc. · Lone Tree, CO · $1.7B100%
At year end, Diversified Management’s separately managed accounts were largely in funds (47%) and stocks (40%). Its reported 13F holdings for the quarter ended 30 June 2026 total $468M across 171 positions; the largest are Rockwell Automation Inc. (12.5%), State Str SPDR S&P 500 ETF T (8.2%) and Vanguard Index Fds (6.1%).
What the accounts hold
- Stocks40%
- Exchange-traded equities36%
- Non-exchange-traded equities4%
- Funds47%
- Bonds7%
- State and local bonds6%
- U.S. government and agency bonds1%
- Cash6%
Reported 13F holdings
- $468M
- Reported 13F value
- 171
- Positions
- 53.9%
- In the 10 largest
- −19.7%
- Value vs. prior quarter
- Rockwell Automation Inc.12.5%
- State Str SPDR S&P 500 ETF T · TR Unit8.2%
- Vanguard Index Fds · Mcap VL Idxvip6.1%
- Willscot Hldgs Corp. · Com CL A5.6%
- Apple Inc.4.3%
- iShares TR · Rus MD CP GR ETF3.9%
- iShares TR · Core S&P Mcp ETF3.8%
- iShares TR · Core S&P Scp ETF3.4%
- iShares TR · MSCI Eafe ETF3.3%
- Invesco Qqq TR · Unit Ser 12.8%
Together, the ten largest are 53.9% of reported value.
How many clients does Diversified Management have?
Diversified Management has 340 clients and manages $1.87 billion for them, as of March 2026. They include 212 high-net-worth individuals, 127 individual clients and 1 charitable organization.
Source: Form ADV Part 1A, Items 5.D and 5.F, filed 30 March 2026
What services does Diversified Management offer?
Diversified 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 Diversified Management charge?
Diversified Management charges 0.25%–1.25% a year for its Investment advisory services. Each asset band is charged at its own rate. The fee is billed in arrears and is negotiable.
Source: ADV PART 2A, filed 30 March 2026
Which custodians does Diversified Management use?
Diversified Management’s separately managed account assets are held at Charles Schwab & Co., Inc. (Lone Tree, CO), with $1.7B. Only custodians holding at least a tenth of those assets are named.
Source: Form ADV Part 1A, Schedule D, Section 5.K.(3), filed 30 March 2026
How many financial advisors does Diversified Management have?
Diversified Management has 6 investment adviser representatives registered with state securities authorities, out of 8 employees, and 6 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 Diversified Management invest in?
At the end of its last fiscal year, Diversified Management’s separately managed accounts held 47% registered funds (mutual funds, ETFs, BDCs), 36% exchange-traded equities, 6% state and local bonds, 6% cash and equivalents, 4% non-exchange-traded equities and 1% U.S. government and agency bonds.
Source: Form ADV Part 1A, Items 5.K.(1) and 7.B, from the SEC's 2 October 2026 data file
Who owns Diversified Management?
Diversified Management’s direct owners are Michael Schmidt, Michael Egan, Chad Thistle and Garren Agle, each holding 50% or less.
Source: Form ADV Part 1A, Schedules A and B, filed 30 March 2026
How does Diversified Management get paid?
Diversified 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
Is Diversified Management registered with the SEC?
Yes, Diversified Management has been registered with the SEC as an investment adviser since 18 May 1994. Its CRD number is 106680 and its SEC file number is 801-46436.
Source: Form ADV Part 1A, Item 1, filed 30 March 2026; IAPD firm record
How do I contact Diversified Management?
Diversified Management’s main office is at 330 E. Kilbourn Ave., Suite 1475, Milwaukee, WI 53202. Its phone number is 414-292-1900. Its website is diversifiedmanagement.com.