Light Financial Services provides financial planning, portfolio management for individuals and small businesses, selecting other managers, and educational seminars. Financial planning was provided to 251–500 clients last fiscal year.
Light Financial Services reports 622 clients. They include 588 individual clients, 33 high-net-worth individuals and 1 corporate or other business client. Of its assets, 99.5% ($175M across 1,803 accounts) are managed with discretion; $857K across 7 accounts are not. It advised 622 clients without assets under management last fiscal year.
| Client type | Clients | Assets |
|---|---|---|
| Individuals (other than HNW) | 95% | 74% |
| High-net-worth individuals | 5% | 24% |
| Corporations and other businesses | <1% | 2% |
Client breakdown and activity details
| Client type | Clients | Regulatory AUM | AUM share | Avg. per client |
|---|---|---|---|---|
| Individuals (other than HNW) | 588 | $131M | 74.4% | $222K |
| High-net-worth individuals | 33 | $42.1M | 24.0% | $1.27M |
| Corporations and other businesses | Fewer than 5 | $2.79M | 1.6% | $2.79M |
| Total | 622 | $176M | 100% | — |
- Clients
- 588
- Regulatory AUM
- $131M
- AUM share
- 74.4%
- Avg. per client
- $222K
- Clients
- 33
- Regulatory AUM
- $42.1M
- AUM share
- 24.0%
- Avg. per client
- $1.27M
- Clients
- Fewer than 5
- Regulatory AUM
- $2.79M
- AUM share
- 1.6%
- Avg. per client
- $2.79M
Total
- Clients
- 622
- Regulatory AUM
- $176M
- AUM share
- 100%
- Avg. per client
- —
- Clients outside the U.S.
- 0%
- Clients advised without assets under management last fiscal year
- 622
- Private funds advised
- 0
- Financial planning clients last fiscal year
- 251–500
Light Financial Services is paid through a percentage of assets under management and fixed fees (other than subscription fees). 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 fixed fee, typically ranging from $750 to $7,500, depending on the arrangement reached with the client.
Paul Light owns 75% or more of Light Financial Services. The leadership team of Light Financial Services includes President Paul Light. It has 2 employees.
Staff
- 2 employees
- 2 in advisory functions
- 2 state-registered reps
- Owns 75% or more of Light Financial Services, Inc.
Paul Light
Control person · since December 2003
Light Financial Services’ regulatory assets grew 1.6× from $111M (March 2022) to $176M (March 2026); clients were 622 in both filings and employees were 2 in both filings.
Figures from each annual filing
| Filed | Regulatory AUM | Clients | StaffEmployees | Offices |
|---|---|---|---|---|
| Mar 2026March 2026 | $176M | 622 | 2 | 1 |
| Mar 2025March 2025 | $145M | 608 | 2 | 1 |
| Feb 2024February 2024 | $126M | 601 | 2 | 1 |
| Jul 2023July 2023 | $104M | 593 | 2 | 1 |
| Mar 2022March 2022 | $111M | 593 | 2 | 1 |
Besides its headquarters, Light Financial Services has 0 offices, with 1 listed address in 1 state.
North Dakota · 1 listed address
- 3575 45th St S, Suite 112, FargoHQ
Contact and registration details
- Legal name
- Light Financial Services, Inc.
- Headquarters
- 3575 45th St S, Suite 112, Fargo, ND 58104
- Website
- lightfinancialservices.com
- Phone
- 701-356-5106
- SEC file
- 801-123619
- Structure
- North Dakota corporation
- Fiscal year end
- December
Light Financial Services’ named custodians for separately managed accounts are Charles Schwab ($145M, 82%) and Matrix Executions ($31M, 18%). Light Financial Services has custody of $72.9M for 117 clients.
The filed custodian amounts total more than regulatory assets under management. Each amount is shown as filed.
- Charles SchwabCharles Schwab & Co., Inc. · Westlake, TX · $145M82%
- Matrix ExecutionsMatrix Executions, LLC · Chicago, IL · $31M18%
At year end, Light Financial Services’ separately managed accounts were mostly in stocks (92%).
What the accounts hold
- Stocks92%
- Non-exchange-traded equities48%
- Exchange-traded equities44%
- Cash7%
Filed values cover 99%. The neutral 1% gap has no reported category.
How many clients does Light Financial Services have?
Light Financial Services has 622 clients and manages $176 million for them, as of March 2026. They include 588 individual clients, 33 high-net-worth individuals and 1 corporate or other business client.
Source: Form ADV Part 1A, Items 5.D and 5.F, filed 25 March 2026
What services does Light Financial Services offer?
Light Financial Services provides financial planning, portfolio management for individuals and small businesses, selecting other managers, and educational seminars.
Source: Form ADV Part 1A, Item 5.G, from the SEC's 2 October 2026 data file
Which custodians does Light Financial Services use?
Light Financial Services’ separately managed account assets are held at Charles Schwab & Co., Inc. (Westlake, TX), with $145M and Matrix Executions, LLC (Chicago, IL), with $31M. 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 March 2026
How many financial advisors does Light Financial Services have?
Light Financial Services has 2 investment adviser representatives registered with state securities authorities, out of 2 employees, and 2 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 Light Financial Services invest in?
At the end of its last fiscal year, Light Financial Services’ separately managed accounts held 48% non-exchange-traded equities, 44% exchange-traded equities and 7% 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 Light Financial Services?
Light Financial Services’ direct owner is Paul Light (75% or more).
Source: Form ADV Part 1A, Schedules A and B, filed 25 March 2026
How does Light Financial Services get paid?
Light Financial Services 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
How do I contact Light Financial Services?
Light Financial Services’ main office is at 3575 45th St S, Suite 112, Fargo, ND 58104. Its phone number is 701-356-5106. Its website is lightfinancialservices.com.
