DL Carlson Investment Group provides financial planning, portfolio management for individuals and small businesses, and portfolio management for institutions. Financial planning was provided to 1–10 clients last fiscal year.
DL Carlson Investment Group reports 360 clients. They include 243 individual clients, 107 high-net-worth individuals, and 4 pension and profit-sharing plans. Of its assets, 100.0% ($736M across 893 accounts) are managed with discretion.
| Client type | Clients | Assets |
|---|---|---|
| Individuals (other than HNW) | 68% | 17% |
| High-net-worth individuals | 30% | 57% |
| Pension and profit-sharing plans | 1% | 26% |
| 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) | 243 | $121M | 16.5% | $500K |
| High-net-worth individuals | 107 | $417M | 56.7% | $3.9M |
| Pension and profit-sharing plans | Fewer than 5 | $190M | 25.8% | $47.5M |
| Charitable organizations | Fewer than 5 | $6.63M | 0.9% | $1.66M |
| Corporations and other businesses | Fewer than 5 | $405K | 0.1% | $202K |
| Total | 360 | $736M | 100% | — |
- Clients
- 243
- Regulatory AUM
- $121M
- AUM share
- 16.5%
- Avg. per client
- $500K
- Clients
- 107
- Regulatory AUM
- $417M
- AUM share
- 56.7%
- Avg. per client
- $3.9M
- Clients
- Fewer than 5
- Regulatory AUM
- $190M
- AUM share
- 25.8%
- Avg. per client
- $47.5M
- Clients
- Fewer than 5
- Regulatory AUM
- $6.63M
- AUM share
- 0.9%
- Avg. per client
- $1.66M
- Clients
- Fewer than 5
- Regulatory AUM
- $405K
- AUM share
- 0.1%
- Avg. per client
- $202K
Total
- Clients
- 360
- Regulatory AUM
- $736M
- AUM share
- 100%
- Avg. per client
- —
- 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
- 1–10
DL Carlson Investment Group is paid through a percentage of assets under management. 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
- Financial planning is a flat $3,500 fee, included in the asset fee for households with over $2 million billable AUM; updates start at $250 an hour.
James Mullins owns 50% to 75% of DL Carlson Investment Group. The leadership team of DL Carlson Investment Group includes President James Mullins. It has 14 employees, 8 of them in advisory roles.
Staff
- 14 employees
- 8 in advisory functions
- 6 state-registered reps
- 1 soliciting firm
- Owns 50% to 75% of DL Carlson Investment Group Inc.
James Mullins
Control person · since September 2004
- Owns 25% to 50% of DL Carlson Investment Group Inc.
David Carlson
Control person · since April 1989
- Owns 10% to 25% of DL Carlson Investment Group Inc.
Rosamond Carlson
Control person · since March 2006
DL Carlson Investment Group’s regulatory assets went from $738M (March 2021) to $736M (August 2026); clients rose from 299 to 360 and employees from 12 to 14.
Figures from each annual filing
| Filed | Regulatory AUM | Clients | StaffEmployees | Offices |
|---|---|---|---|---|
| Aug 2026August 2026 | $736M | 360 | 14 | 1 |
| Jun 2025June 2025 | $695M | 369 | 12 | 1 |
| Mar 2024March 2024 | $635M | 352 | 14 | 1 |
| Mar 2023March 2023 | $657M | 318 | 13 | 1 |
| Jun 2022June 2022 | $825M | 301 | 13 | 1 |
| Mar 2021March 2021 | $738M | 299 | 12 | 1 |
Besides its headquarters, DL Carlson Investment Group has 0 offices, with 1 listed address in 1 state.
New Hampshire · 1 listed address
- Two Capital Plaza, Suite 404, ConcordHQ
Other business names
DL Carlson Investment Group has reported 1 other business name to the SEC.
- Carlson Investments
Contact and registration details
- Legal name
- DL Carlson Investment Group Inc.
- Headquarters
- Two Capital Plaza, Suite 404, Concord, NH 03301
- Website
- carlsoninvest.com
- Phone
- 603-224-5977
- SEC file
- 801-34606
- Structure
- New Hampshire corporation
- Fiscal year end
- December
DL Carlson Investment Group’s named custodians for separately managed accounts are Charles Schwab ($507M, 74%) and Commerce Bank ($177M, 26%). DL Carlson Investment Group does not have custody of client assets.
- Commerce BankCommerce Bank · Kansas City, MO · $177M26%
- Charles SchwabCharles Schwab & Co., Inc. · Westlake, TX · $507M74%
At year end, DL Carlson Investment Group’s separately managed accounts were mostly in stocks (76%) and bonds (15%).
What the accounts hold
- Stocks76%
- Funds4%
- Bonds15%
- Investment grade corporate bonds7%
- U.S. government and agency bonds4%
- State and local bonds4%
- Cash2%
- Other3%
- Bond mutual funds and bond etfs3%
How many clients does DL Carlson Investment Group have?
DL Carlson Investment Group has 360 clients and manages $736 million for them, as of August 2026. They include 243 individual clients, 107 high-net-worth individuals, and 4 pension and profit-sharing plans.
Source: Form ADV Part 1A, Items 5.D and 5.F, filed 25 August 2026
What services does DL Carlson Investment Group offer?
DL Carlson Investment Group 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
Which custodians does DL Carlson Investment Group use?
DL Carlson Investment Group’s separately managed account assets are held at Charles Schwab & Co., Inc. (Westlake, TX), with $507M and Commerce Bank (Kansas City, MO), with $177M. Only custodians holding at least a tenth of those assets are named.
Source: Form ADV Part 1A, Schedule D, Section 5.K.(3), filed 25 August 2026
How many financial advisors does DL Carlson Investment Group have?
DL Carlson Investment Group has 6 investment adviser representatives registered with state securities authorities, out of 14 employees, and 8 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 DL Carlson Investment Group invest in?
At the end of its last fiscal year, DL Carlson Investment Group’s separately managed accounts held 76% exchange-traded equities, 7% investment grade corporate bonds, 4% U.S. government and agency bonds, 4% state and local bonds, 4% registered funds (mutual funds, ETFs, BDCs), 3% other and 2% cash and equivalents. The 3% other category is described as: Bond Mutual Funds and Bond Etfs.
Source: Form ADV Part 1A, Items 5.K.(1) and 7.B, from the SEC's 2 October 2026 data file
Who owns DL Carlson Investment Group?
DL Carlson Investment Group’s direct owners are Rosamond Carlson (10% to 25%), David Carlson (25% to 50%) and James Mullins (50% to 75%).
Source: Form ADV Part 1A, Schedules A and B, filed 25 August 2026
How does DL Carlson Investment Group get paid?
DL Carlson Investment Group is paid through a percentage of assets under management. 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 DL Carlson Investment Group?
DL Carlson Investment Group’s main office is at Two Capital Plaza, Suite 404, Concord, NH 03301. Its phone number is 603-224-5977. Its website is carlsoninvest.com.