HighMark Wealth Management provides financial planning, portfolio management for individuals and small businesses, pension consulting, selecting other managers, estate planning, and insurance. Financial planning was provided to 101–250 clients last fiscal year.
HighMark Wealth Management reports 429 clients. They include 258 individual clients and 171 high-net-worth individuals. Of its assets, 100.0% ($612M across 1,679 accounts) are managed with discretion. A wrap fee program the firm both sponsors and manages holds $612M. It advised 25 clients without assets under management last fiscal year.
| Client type | Clients | Assets |
|---|---|---|
| Individuals (other than HNW) | 60% | 10% |
| High-net-worth individuals | 40% | 90% |
Client breakdown and activity details
| Client type | Clients | Regulatory AUM | AUM share | Avg. per client |
|---|---|---|---|---|
| Individuals (other than HNW) | 258 | $60.1M | 9.8% | $233K |
| High-net-worth individuals | 171 | $552M | 90.2% | $3.23M |
| Total | 429 | $612M | 100% | $1.43M |
- Clients
- 258
- Regulatory AUM
- $60.1M
- AUM share
- 9.8%
- Avg. per client
- $233K
- Clients
- 171
- Regulatory AUM
- $552M
- AUM share
- 90.2%
- Avg. per client
- $3.23M
Total
- Clients
- 429
- Regulatory AUM
- $612M
- AUM share
- 100%
- Avg. per client
- $1.43M
- Clients outside the U.S.
- 0%
- Clients advised without assets under management last fiscal year
- 25
- Private funds advised
- 0
- Financial planning clients last fiscal year
- 101–250
HighMark Wealth Management charges 0.50%–1.50% a year for its Investment Advisory Services. The fee is billed in advance and is negotiable. The brochure also prices one other service, listed under fee details.
Fee details and sources
Other fees
- Stand-alone financial planning and consulting
- Negotiable stand-alone fee, generally $150 to $500 per hour or a pre-determined fixed fee.
Todd Arens owns 75% or more of HighMark Wealth Management. It has 5 employees, 4 of them in advisory roles.
Leadership
Patrick SullivanWealth Strategist and Partner- Todd ArensManaging Member and
Investment adviser representatives
5 representatives listed in the SEC register as of 9 October 2026.
Staff
- 5 employees
- 4 in advisory functions
- 4 state-registered reps
- 3 broker-dealer reps
- 2 insurance agents
- 1 soliciting firm
- Owns 75% or more of Highmark Wealth Management LLC
Todd Arens
Control person · since July 2012
- Owns 10% to 25% of Highmark Wealth Management LLC
Patrick Sullivan
since January 2016
HighMark Wealth Management’s regulatory assets grew 1.6× from $392M (March 2021) to $612M (April 2026); clients rose from 331 to 429 and employees fell from 6 to 5.
Figures from each annual filing
| Filed | Regulatory AUM | Clients | Employees | Offices |
|---|---|---|---|---|
| April 2026 | $612M | 429 | 5 | 1 |
| April 2025 | $523M | 346 | 6 | 1 |
| March 2024 | $484M | 330 | 6 | 1 |
| April 2023 | $399M | 339 | 6 | 1 |
| April 2022 | $422M | 331 | 6 | 1 |
| March 2021 | $392M | 331 | 6 | 1 |
Besides its headquarters, HighMark Wealth Management has 0 offices, with 1 listed address in Minnesota.
Minnesota · 1 listed address
- 944 Inwood Ave N, St. PaulHQ
Contact and registration details
- Legal name
- Highmark Wealth Management LLC
- Headquarters
- 944 Inwood Ave N, St. Paul, MN 55128
- Website
- highmarkwealth.com
- Phone
- 651-829-3300
- @highmark-wealth-management
- SEC file
- 801-76896
- Founded
- 2012
- Structure
- Minnesota LLC
- Fiscal year end
- December
HighMark Wealth Management uses Fidelity ($612M) as custodian for its separately managed accounts. HighMark Wealth Management does not have custody of client assets.
- FidelityNational Financial Services LLC · Boston, MA · $612M100%
At year end, HighMark Wealth Management’s separately managed accounts were mostly in funds (67%) and stocks (19%). Its reported 13F holdings for the quarter ended 30 June 2026 total $299M across 565 positions; the largest are iShares TR (27.6%), Fidelity Covington Trust (6.6%) and Axogen Inc. (5.3%).
What the accounts hold
- Stocks19%
- Funds67%
- Bonds4%
- U.S. government and agency bonds3%
- State and local bonds1%
- Cash10%
Reported 13F holdings
- $299M
- Reported 13F value
- 565
- Positions
- 65.8%
- In the 10 largest
- +21.5%
- Value vs. prior quarter
- iShares TR · Core S&P500 ETF27.6%
- Fidelity Covington Trust · MSCI Hlth Care I6.6%
- Axogen Inc.5.3%
- iShares TR · Russell 2000 ETF5.1%
- iShares TR · Eafe Value ETF5.1%
- iShares TR · Core S&P Scp ETF4.5%
- Vanguard Index Fds · S&P 500 ETF Shs3.6%
- Neogenomics Inc.3.0%
- iShares TR · Core S&P US Vlu2.8%
- SI Bone Inc.2.3%
Together, the ten largest are 65.8% of reported value.
How many clients does HighMark Wealth Management have?
HighMark Wealth Management has 429 clients and manages $612 million for them, as of April 2026. They include 258 individual clients and 171 high-net-worth individuals.
Source: Form ADV Part 1A, Items 5.D and 5.F, filed 28 April 2026
What services does HighMark Wealth Management offer?
HighMark Wealth Management provides financial planning, portfolio management for individuals and small businesses, pension consulting, selecting other managers, estate planning, and insurance.
Source: Form ADV Part 1A, Item 5.G, from the SEC's 2 October 2026 data file; Part 2A brochure, Item 4
How much does HighMark Wealth Management charge?
HighMark Wealth Management charges 0.50%–1.50% a year for its Investment Advisory Services. The fee is billed in advance and is negotiable.
Which custodians does HighMark Wealth Management use?
HighMark Wealth Management’s separately managed account assets are held at National Financial Services LLC (Boston, MA), with $612M. Only custodians holding at least a tenth of those assets are named.
Source: Form ADV Part 1A, Schedule D, Section 5.K.(3), filed 28 April 2026
How many financial advisors does HighMark Wealth Management have?
HighMark Wealth Management has 4 investment adviser representatives registered with state securities authorities, out of 5 employees, and 4 perform investment advisory functions. 3 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 HighMark Wealth Management invest in?
At the end of its last fiscal year, HighMark Wealth Management’s separately managed accounts held 67% registered funds (mutual funds, ETFs, BDCs), 19% exchange-traded equities, 10% cash and equivalents, 3% 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 HighMark Wealth Management?
HighMark Wealth Management’s direct owners are Patrick Sullivan (10% to 25%) and Todd Arens (75% or more).
Source: Form ADV Part 1A, Schedules A and B, filed 28 April 2026
How does HighMark Wealth Management get paid?
HighMark Wealth Management is paid through a percentage of assets under management, hourly charges, fixed fees and other compensation. 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 HighMark Wealth Management registered with the SEC?
Yes, HighMark Wealth Management has been registered with the SEC as an investment adviser since 25 July 2012. Its CRD number is 164790 and its SEC file number is 801-76896.
Source: Form ADV Part 1A, Item 1, filed 28 April 2026; IAPD firm record
How do I contact HighMark Wealth Management?
HighMark Wealth Management’s main office is at 944 Inwood Ave N, St. Paul, MN 55128. Its phone number is 651-829-3300. Its website is highmarkwealth.com.