{"url":"https://nivawealth.com/firms/fiduciary-counselling-104753","iapdUrl":"https://adviserinfo.sec.gov/firm/summary/104753","regulatoryAum":10056745777,"crd":"104753","secFileNumber":"801-4158","legalName":"Fiduciary Counselling Inc","displayName":"Fiduciary Counselling","website":null,"linkedinUrl":"https://www.linkedin.com/company/fiduciary-counselling-inc/","founded":null,"organization":"Minnesota corporation","fiscalYearEnd":"December","headquarters":{"street":"30 East 7th Street, Suite 2000","city":"ST Paul","state":"MN","stateName":"Minnesota","country":"United States","postalCode":"55101-4930"},"tradeNames":[],"registration":{"secApproved":"7 December 1966","noticeFilings":null,"latestNoticeFiling":null},"staff":{"employees":87,"advisory":18,"brokerDealerReps":0,"insuranceAgents":0,"promoters":0},"aum":{"discretionary":4392071487,"discretionaryAccounts":1530,"nonDiscretionary":5664674290,"nonDiscretionaryAccounts":231,"wrapProgram":null,"nonUsClientsPct":1,"nonAumClients":0},"clientTypes":[{"label":"Individuals (other than HNW)","clients":1002,"regulatoryAum":658505420},{"label":"High-net-worth individuals","clients":643,"regulatoryAum":8182499961},{"label":"Investment companies","clients":3,"regulatoryAum":5713262},{"label":"Charitable organizations","clients":25,"regulatoryAum":468069719},{"label":"Other investment advisers","clients":1,"regulatoryAum":3651078},{"label":"Corporations and other businesses","clients":87,"regulatoryAum":738306337}],"fees":[],"feeNotes":[],"feePrograms":[],"brochureCoverage":{"scope":"known_documents","status":"not_processed","checkedAt":null,"documents":[]},"custodians":[{"name":"National Financial Services LLC","shortName":"Fidelity","location":"Boston, MA","smaAssets":5605970100}],"custodyNote":"Fiduciary Counselling has custody of $7.35B for 416 clients.","otherCustodians":[],"leadership":[{"name":"Sarah Isabel","title":"President, Chief Executive Officer and Director","crd":"7033053"},{"name":"Shari Clifford","title":"Chief Financial Officer","crd":"5458974"},{"name":"Jason Mitchell","title":"Chief Compliance Officer and Chief Operations Officer","crd":"5859466"},{"name":"Ann Burns","title":"Director","crd":"5651950"},{"name":"James Castellano","title":"Director","crd":"4471586"},{"name":"Amy Fields","title":"Director","crd":"7876109"},{"name":"Andrew Lang","title":"Chief Investment Officer","crd":"4714507"},{"name":"Joel Sommers","title":"Director - Estate, Trust &","crd":"4559347"},{"name":"Steven Weinstein","title":"Director","crd":"2477854"}],"ownership":[{"label":"Cassiopeia Holdings Company","detail":"Shareholder in the 75% or more ownership band and a control person, since April 2023."},{"label":"Ties That Bind Purpose Trust","detail":"Indirect owner: a shareholder of Cassiopeia Holdings Company in the 75% or more band and a control person, since April 2023.","parent":"Cassiopeia Holdings Company"},{"label":"Fiduciary Services Company, LLC","detail":"Indirect owner: trustee of Ties That Bind Purpose Trust and a control person, since April 2023.","parent":"Ties That Bind Purpose Trust"}],"branchOffices":null,"filedOffices":{"otherThanPrincipal":1,"privateResidences":0},"listedOfficeAddresses":2,"officesByState":[{"state":"Minnesota","offices":1,"addresses":[{"street":"30 East 7th Street, Suite 2000","city":"ST Paul","headquarters":true}]},{"state":"Washington","offices":1,"addresses":[{"street":"Tacoma Financial Center","city":"Tacoma"}]}],"advFacts":{"source":{"file":"ia100226.zip","asOf":"2 October 2026"},"telephone":"651-228-0935","stateRegisteredReps":18,"otherAdviserReps":0,"compensation":["A percentage of assets under management","Fixed fees (other than subscription fees)"],"activities":["Financial planning services","Portfolio management for individuals and/or small businesses","Portfolio management for investment companies","Portfolio management for businesses (other than small businesses) or institutional clients","Selection of other advisers (including private fund managers)","Educational seminars/workshops","Other"],"financialPlanningClients":"251-500","assetMix":[{"label":"Exchange-traded equity securities","percent":8},{"label":"Non-exchange-traded equity securities","percent":26},{"label":"Securities issued by registered investment companies or business development companies","percent":46},{"label":"Securities issued by pooled investment vehicles (other than registered investment companies)","percent":12},{"label":"Cash and cash equivalents","percent":2},{"label":"Other","percent":6,"detail":"Types of Assets Included in Section Xii, \"other,\" Include 529 Plans, Notes Receivable, Individual Retirement Accounts, Other Retirement Accounts, Private Investments, Real Estate Investments and Externally Managed Assets Included by Request of the Client for Asset Allocation and Reporting Purposes."}],"privateFunds":0},"sources":{"adv1FilingDate":"17 March 2026","adv1Url":"https://reports.adviserinfo.sec.gov/reports/ADV/104753/PDF/104753.pdf","brochureDate":null,"brochureUrl":null,"iapdCompiledDate":null,"retrievedDate":"15 October 2026","retrievedOn":"2026-10-15","adv1Pages":{},"brochurePages":{}},"otherBusiness":[],"faq":[{"question":"How many clients does Fiduciary Counselling have?","answer":"Fiduciary Counselling has 1,761 clients and manages $10.1 billion for them, as of March 2026. They include 1,002 other individuals, 643 high-net-worth individuals and 87 corporations and other businesses.","source":"Form ADV Part 1A, Items 5.D and 5.F, filed 17 March 2026","sourceRef":{"doc":"adv1","section":"employees"}},{"question":"What services does Fiduciary Counselling offer?","answer":"Fiduciary Counselling provides financial planning, portfolio management for individuals and small businesses, portfolio management for investment companies, portfolio management for institutions, selecting other managers, educational seminars and other activities.","source":"Form ADV Part 1A, Item 5.G, from the SEC's 2 October 2026 data file","sourceRef":{"doc":"adv1","section":"employees"}},{"question":"Which custodians does Fiduciary Counselling use?","answer":"Fiduciary Counselling’s separately managed account assets are held at National Financial Services LLC (Boston, MA), with $5,605,970,100. Only custodians holding at least a tenth of those assets are named.","source":"Form ADV Part 1A, Schedule D, Section 5.K.(3), filed 17 March 2026","sourceRef":{"doc":"adv1","section":"custodians"}},{"question":"How many financial advisors does Fiduciary Counselling have?","answer":"Fiduciary Counselling has 18 investment adviser representatives registered with state securities authorities, out of 87 employees, and 18 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","sourceRef":{"doc":"adv1","section":"employees"}},{"question":"What does Fiduciary Counselling invest in?","answer":"At the end of its last fiscal year, Fiduciary Counselling’s separately managed accounts held 46% registered funds (mutual funds, ETFs, BDCs), 26% non-exchange-traded equities, 12% pooled vehicles (private funds and similar), 8% exchange-traded equities, 6% types of assets included in section xii, \"other,\" include 529 plans, notes receivable, individual retirement accounts, other retirement accounts, private investments, real estate investments and externally managed assets included by request of the client for asset allocation and reporting purposes. and 2% cash and equivalents. It advises no private funds of its own.","source":"Form ADV Part 1A, Items 5.K.(1) and 7.B, from the SEC's 2 October 2026 data file","sourceRef":{"doc":"adv1","section":"employees"}},{"question":"Who owns Fiduciary Counselling?","answer":"Fiduciary Counselling’s direct owner is Cassiopeia Holdings Company (75% or more).","source":"Form ADV Part 1A, Schedules A and B, filed 17 March 2026","sourceRef":{"doc":"adv1","section":"scheduleA"}},{"question":"How does Fiduciary Counselling get paid?","answer":"Fiduciary Counselling is paid through a percentage of assets under management 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","sourceRef":{"doc":"adv1","section":"employees"}}],"holdings":{"url":"https://nivawealth.com/firms/fiduciary-counselling-104753/holdings","form":"13F-HR","periodOfReport":"2026-06-30","filedOn":"2026-08-03","filingIndexUrl":"https://www.sec.gov/Archives/edgar/data/1270764/000114036126030948/0001140361-26-030948-index.html","totalValue":40557298,"positionCount":11,"top10Share":0.9955133105760645,"top10":[{"issuer":"ISHARES TR","titleOfClass":"RUS 1000 ETF","cusip":"464287622","value":13287456,"shares":32448,"shareType":"SH","priorValue":11569659,"priorShares":32448},{"issuer":"BERKSHIRE HATHAWAY INC","titleOfClass":"CLASS A","cusip":"084670108","value":11232750,"shares":15,"shareType":"SH","priorValue":10772100,"priorShares":15},{"issuer":"WEYERHAEUSER CO","titleOfClass":"COMMON","cusip":"962166104","value":6121003,"shares":255681,"shareType":"SH","priorValue":6245261,"priorShares":255639},{"issuer":"RAYONIER INC","titleOfClass":"COMMON","cusip":"754907103","value":4428751,"shares":208118,"shareType":"SH","priorValue":4286568,"priorShares":207884},{"issuer":"VANGUARD INDEX FDS","titleOfClass":"TOTAL STK MKT","cusip":"922908769","value":3015456,"shares":8149,"shareType":"SH","priorValue":2614281,"priorShares":8149},{"issuer":"ISHARES TR","titleOfClass":"ESG AWR MSCI USA","cusip":"46435G425","value":1087588,"shares":6645,"shareType":"SH"},{"issuer":"ISHARES TR","titleOfClass":"ESG AW MSCI EAFE","cusip":"46435G516","value":473143,"shares":4602,"shareType":"SH"},{"issuer":"SPDR SER TR","titleOfClass":"S&P OILGAS EXP","cusip":"78468R556","value":311914,"shares":2022,"shareType":"SH","priorValue":367660,"priorShares":2022},{"issuer":"ISHARES INC","titleOfClass":"ESG AWR MSCI EM","cusip":"46434G863","value":214969,"shares":3930,"shareType":"SH","priorValue":94214,"priorShares":2072},{"issuer":"COLUMBIA BKG SYS INC","titleOfClass":"COMMON","cusip":"197236102","value":202300,"shares":6312,"shareType":"SH"}],"positionsListed":11,"positions":[{"issuer":"ISHARES TR","titleOfClass":"RUS 1000 ETF","cusip":"464287622","value":13287456,"shares":32448,"shareType":"SH","priorValue":11569659,"priorShares":32448},{"issuer":"BERKSHIRE HATHAWAY INC","titleOfClass":"CLASS A","cusip":"084670108","value":11232750,"shares":15,"shareType":"SH","priorValue":10772100,"priorShares":15},{"issuer":"WEYERHAEUSER CO","titleOfClass":"COMMON","cusip":"962166104","value":6121003,"shares":255681,"shareType":"SH","priorValue":6245261,"priorShares":255639},{"issuer":"RAYONIER INC","titleOfClass":"COMMON","cusip":"754907103","value":4428751,"shares":208118,"shareType":"SH","priorValue":4286568,"priorShares":207884},{"issuer":"VANGUARD INDEX FDS","titleOfClass":"TOTAL STK MKT","cusip":"922908769","value":3015456,"shares":8149,"shareType":"SH","priorValue":2614281,"priorShares":8149},{"issuer":"ISHARES TR","titleOfClass":"ESG AWR MSCI USA","cusip":"46435G425","value":1087588,"shares":6645,"shareType":"SH"},{"issuer":"ISHARES TR","titleOfClass":"ESG AW MSCI EAFE","cusip":"46435G516","value":473143,"shares":4602,"shareType":"SH"},{"issuer":"SPDR SER TR","titleOfClass":"S&P OILGAS EXP","cusip":"78468R556","value":311914,"shares":2022,"shareType":"SH","priorValue":367660,"priorShares":2022},{"issuer":"ISHARES INC","titleOfClass":"ESG AWR MSCI EM","cusip":"46434G863","value":214969,"shares":3930,"shareType":"SH","priorValue":94214,"priorShares":2072},{"issuer":"COLUMBIA BKG SYS INC","titleOfClass":"COMMON","cusip":"197236102","value":202300,"shares":6312,"shareType":"SH"},{"issuer":"ISHARES TR","titleOfClass":"ESG AWARE MSCI","cusip":"46435U663","value":181968,"shares":3253,"shareType":"SH"}]},"notice":"Compiled from public SEC Form ADV filings on the dates in `sources`. Facts as filed; not a rating, ranking, or recommendation. Niva Wealth is not affiliated with this firm. Disciplinary history is deliberately not included here or on the page; the SEC publishes the complete record at the `iapdUrl` above."}