Fjell Capital provides financial planning, portfolio management for individuals and small businesses, portfolio management for institutions, pension consulting, and selecting other managers. Financial planning was provided to 101–250 clients last fiscal year.
Fjell Capital reports 205 clients. They include 154 individual clients, 48 high-net-worth individuals and 3 charitable organizations. Of its assets, 98.4% ($184M across 640 accounts) are managed with discretion; $3.05M across 14 accounts are not. It advised 7 clients without assets under management last fiscal year.
| Client type | Clients | Assets |
|---|---|---|
| Individuals (other than HNW) | 75% | 27% |
| High-net-worth individuals | 23% | 70% |
| Charitable organizations | 1% | 4% |
Client breakdown and activity details
| Client type | Clients | Regulatory AUM | AUM share | Avg. per client |
|---|---|---|---|---|
| Individuals (other than HNW) | 154 | $50M | 26.7% | $325K |
| High-net-worth individuals | 48 | $130M | 69.6% | $2.71M |
| Charitable organizations | 3 | $6.8M | 3.6% | $2.27M |
| Total | 205 | $187M | 100% | $912K |
- Clients
- 154
- Regulatory AUM
- $50M
- AUM share
- 26.7%
- Avg. per client
- $325K
- Clients
- 48
- Regulatory AUM
- $130M
- AUM share
- 69.6%
- Avg. per client
- $2.71M
- Clients
- 3
- Regulatory AUM
- $6.8M
- AUM share
- 3.6%
- Avg. per client
- $2.27M
Total
- Clients
- 205
- Regulatory AUM
- $187M
- AUM share
- 100%
- Avg. per client
- $912K
- Clients outside the U.S.
- 0%
- Clients advised without assets under management last fiscal year
- 7
- Private funds advised
- 0
- Financial planning clients last fiscal year
- 101–250
Fjell Capital charges 0.40%–1.25% a year for its Bergen Advisory Services. Each asset band is charged at its own rate. The fee is billed in advance, is negotiable and has a $5,000 annual minimum. The brochure also prices 2 other services, listed under fee details.
| Asset band | Annual rate |
|---|---|
| $0–$750K | 1.25% |
| $750K–$1.75M | 1.00% |
| $1.75M–$2.75M | 0.85% |
| $2.75M–$5M | 0.75% |
| $5M–$7.5M | 0.65% |
| $7.5M–$15M | 0.50% |
| $15M and above | 0.40% |
Fee details and sources
Other fees
- BluePrint Financial Planning
- Flat fee of generally $5,000 to $15,000 for a comprehensive plan, or $500 an hour in 15-minute increments; both may be negotiable.
- Retirement Plan Services
- Asset-based fee on plan assets with a maximum of 1.00% a year, negotiated with the plan sponsor.
Thomas Stadum owns 75% or more of Fjell Capital. Thomas Stadum is CEO. It has 4 employees, 3 of them in advisory roles.
Staff
- 4 employees
- 3 in advisory functions
- 3 state-registered reps
- 2 insurance agents
- Owns 75% or more of Fjell Capital, LLC
Thomas Stadum
Control person · since July 2020
Fjell Capital’s regulatory assets grew from $130M (July 2024) to $187M (August 2026); clients rose from 184 to 205 and employees fell from 5 to 4.
Figures from each annual filing
| Filed | Regulatory AUM | Clients | StaffEmployees | Offices |
|---|---|---|---|---|
| Aug 2026August 2026 | $187M | 205 | 4 | 3 |
| Jun 2025June 2025 | $157M | 201 | 5 | 1 |
| Jul 2024July 2024 | $130M | 184 | 5 | 1 |
Besides its headquarters, Fjell Capital has 2 offices (2 private residences, listed without an address), with 1 listed address in 1 state.
North Dakota · 1 listed address
- 27 10th Street North, FargoHQ
Contact and registration details
- Legal name
- Fjell Capital, LLC
- Headquarters
- 27 10th Street North, Fargo, ND 58102
- Website
- fjellcapital.com
- Phone
- 701-491-7600
- @fjellcapital
- SEC file
- 801-128577
- Structure
- Delaware LLC
- Fiscal year end
- December
Fjell Capital’s named custodian for separately managed accounts is Charles Schwab ($185M). Fjell Capital has custody of $57.1M for 128 clients.
- Charles SchwabCharles Schwab & Co., Inc. · Westlake, TX · $185M100%
At year end, Fjell Capital’s separately managed accounts were mostly in stocks (77%) and funds (19%). Its reported 13F holdings for the quarter ended 30 June 2026 total $147M across 66 positions; the largest are Davis Fundamental ETF TR (8.7%), Victory Portfolios II (5.8%) and Nvidia Corporation (4.9%).
What the accounts hold
- Stocks77%
- Funds19%
- Bonds2%
- Cash2%
How many clients does Fjell Capital have?
Fjell Capital has 205 clients and manages $187 million for them, as of August 2026. They include 154 individual clients, 48 high-net-worth individuals and 3 charitable organizations.
Source: Form ADV Part 1A, Items 5.D and 5.F, filed 24 August 2026
What services does Fjell Capital offer?
Fjell Capital provides financial planning, portfolio management for individuals and small businesses, portfolio management for institutions, pension consulting, and selecting other managers.
Source: Form ADV Part 1A, Item 5.G, from the SEC's 2 October 2026 data file
How much does Fjell Capital charge?
Fjell Capital charges 0.40%–1.25% a year for its Bergen Advisory Services. Each asset band is charged at its own rate. The fee is billed in advance, is negotiable and has a $5,000 annual minimum.
Which custodians does Fjell Capital use?
Fjell Capital’s separately managed account assets are held at Charles Schwab & Co., Inc. (Westlake, TX), with $185M. 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 August 2026
How many financial advisors does Fjell Capital have?
Fjell Capital has 3 investment adviser representatives registered with state securities authorities, out of 4 employees, and 3 perform investment advisory functions. 0 employees are registered representatives of a broker-dealer and 2 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 Fjell Capital invest in?
At the end of its last fiscal year, Fjell Capital’s separately managed accounts held 77% exchange-traded equities, 19% registered funds (mutual funds, ETFs, BDCs), 2% state and local bonds 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 Fjell Capital?
Fjell Capital’s direct owner is Thomas Stadum (75% or more).
Source: Form ADV Part 1A, Schedules A and B, filed 24 August 2026
How does Fjell Capital get paid?
Fjell Capital 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 Fjell Capital?
Fjell Capital’s main office is at 27 10th Street North, Fargo, ND 58102. Its phone number is 701-491-7600. Its website is fjellcapital.com.