Murray Financial Group provides financial planning, portfolio management for individuals and small businesses, and pension consulting. Financial planning was provided to 251–500 clients last fiscal year.
Murray Financial Group reports 1,318 clients. They include 955 individual clients, 307 high-net-worth individuals, and 43 pension and profit-sharing plans. Of its assets, 77.5% ($1.2B across 3,644 accounts) are managed with discretion; $350M across 43 accounts are not. It advised 2 clients without assets under management last fiscal year.
| Client type | Clients | Assets |
|---|---|---|
| Individuals (other than HNW) | 72% | 18% |
| High-net-worth individuals | 23% | 59% |
| Pension and profit-sharing plans | 3% | 23% |
| Charitable organizations | <1% | <1% |
Client breakdown and activity details
| Client type | Clients | Regulatory AUM | AUM share | Avg. per client |
|---|---|---|---|---|
| Individuals (other than HNW) | 955 | $272M | 17.5% | $285K |
| High-net-worth individuals | 307 | $918M | 59.2% | $2.99M |
| Pension and profit-sharing plans | 43 | $350M | 22.5% | $8.13M |
| Charitable organizations | 13 | $11.8M | 0.8% | $907K |
| Total | 1,318 | $1.55B | 100% | $1.18M |
- Clients
- 955
- Regulatory AUM
- $272M
- AUM share
- 17.5%
- Avg. per client
- $285K
- Clients
- 307
- Regulatory AUM
- $918M
- AUM share
- 59.2%
- Avg. per client
- $2.99M
- Clients
- 43
- Regulatory AUM
- $350M
- AUM share
- 22.5%
- Avg. per client
- $8.13M
- Clients
- 13
- Regulatory AUM
- $11.8M
- AUM share
- 0.8%
- Avg. per client
- $907K
Total
- Clients
- 1,318
- Regulatory AUM
- $1.55B
- AUM share
- 100%
- Avg. per client
- $1.18M
- Clients outside the U.S.
- 0%
- Clients advised without assets under management last fiscal year
- 2
- Private funds advised
- 0
- Financial planning clients last fiscal year
- 251–500
Murray Financial Group charges 0.25%–0.90% a year for its Investment Management Services. Each asset band is charged at its own rate. The fee is billed in arrears and is negotiable.
| Asset band | Annual rate |
|---|---|
| $0–$1M | 0.90% |
| $1M–$2M | 0.75% |
| $2M–$5M | 0.50% |
| $5M and above | 0.25% |
Fee details and sources
Richard Murray owns 50% to 75% of Murray Financial Group. The leadership team of Murray Financial Group includes Chief Compliance Officer Richard Murray. It has 17 employees, 10 of them in advisory roles.
Leadership
- Richard MurrayManaging Member and Chief Compliance Officer
- Jonathan MurrayMinority Owner
- Lawrence GartnerMinority Owner
- Timothy JaynesMinority Owner
Investment adviser representatives
14 representatives listed in the SEC register as of 9 October 2026.
- Charles Allan Achterkirch
- Matthew H Bennis
- Wendy K Bennis
- Chad David Duppong
- Robert William Gadtke
- Lawrence Thomas Gartner III
- Hayden Spencer Hoffman
- Timothy Burns Jaynes
- Benjamin Lundeen
- Jonathan Orlo Murray
- Richard John Murray II
- Robert Noble Prentiss JR
- Benjamin William Sand
- Mark Steven Smed
Staff
- 17 employees
- 10 in advisory functions
- 10 state-registered reps
- 2 broker-dealer reps
- 5 insurance agents
- Owns 50% to 75% of Murray Financial Group, LLC
Richard Murray
Control person · since April 2011
- Owns 10% to 25% of Murray Financial Group, LLC
Jonathan Murray
since January 2024
- Owns 10% to 25% of Murray Financial Group, LLC
Lawrence Gartner
since January 2024
- Owns 10% to 25% of Murray Financial Group, LLC
Timothy Jaynes
since January 2024
Murray Financial Group’s regulatory assets grew 1.6× from $943M (February 2021) to $1.55B (February 2026); clients rose from 1,003 to 1,318 and employees from 14 to 17.
Figures from each annual filing
| Filed | Regulatory AUM | Clients | Employees | Offices |
|---|---|---|---|---|
| February 2026 | $1.55B | 1,318 | 17 | 3 |
| April 2025 | $1.35B | 1,305 | 15 | 3 |
| February 2024 | $1.2B | 1,323 | 15 | 3 |
| February 2023 | $1B | 1,238 | 15 | 3 |
| January 2022 | $1.15B | 1,147 | 14 | 3 |
| February 2021 | $943M | 1,003 | 14 | 3 |
Besides its headquarters, Murray Financial Group has 2 offices, with 3 listed addresses in Minnesota.
Minnesota · 3 listed addresses
- 200 North Broadway Ave., Albert LeaHQ
- 615 2nd Street, Hudson
- 7760 France Avenue South, Minneapolis
Contact and registration details
- Legal name
- Murray Financial Group, LLC
- Headquarters
- 200 North Broadway Ave., Albert Lea, MN 56007
- Website
- iscfinancialadvisors.com
- Phone
- 507-373-8216
- @208400
- SEC file
- 801-72585
- Structure
- Minnesota LLC
- Fiscal year end
- December
Murray Financial Group uses Charles Schwab ($1.2B) as custodian for its separately managed accounts. Murray Financial Group has custody of $24.9M in client assets for 19 clients.
- Charles SchwabCharles Schwab & Co., Inc. · San Francisco, CA · $1.2B100%
At year end, Murray Financial Group’s separately managed accounts were mostly in funds (85%).
What the accounts hold
- Stocks8%
- Funds85%
- Bonds4%
- State and local bonds3%
- Investment grade corporate bonds1%
- Cash2%
Filed values cover 99%. The neutral 1% gap has no reported category.
How many clients does Murray Financial Group have?
Murray Financial Group has 1,318 clients and manages $1.55 billion for them, as of February 2026. They include 955 individual clients, 307 high-net-worth individuals, and 43 pension and profit-sharing plans.
Source: Form ADV Part 1A, Items 5.D and 5.F, filed 4 February 2026
What services does Murray Financial Group offer?
Murray Financial Group provides financial planning, portfolio management for individuals and small businesses, and pension consulting.
Source: Form ADV Part 1A, Item 5.G, from the SEC's 2 October 2026 data file
How much does Murray Financial Group charge?
Murray Financial Group charges 0.25%–0.90% a year for its Investment Management Services. Each asset band is charged at its own rate. The fee is billed in arrears and is negotiable.
Source: ISC FINANCIAL ADVISORS ADV PART 2A, filed 4 February 2026
Which custodians does Murray Financial Group use?
Murray Financial Group’s separately managed account assets are held at Charles Schwab & Co., Inc. (San Francisco, CA), with $1.2B. Only custodians holding at least a tenth of those assets are named.
Source: Form ADV Part 1A, Schedule D, Section 5.K.(3), filed 4 February 2026
How many financial advisors does Murray Financial Group have?
Murray Financial Group has 10 investment adviser representatives registered with state securities authorities, out of 17 employees, and 10 perform investment advisory functions. 2 employees are registered representatives of a broker-dealer and 5 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 Murray Financial Group invest in?
At the end of its last fiscal year, Murray Financial Group’s separately managed accounts held 85% registered funds (mutual funds, ETFs, BDCs), 8% exchange-traded equities, 3% state and local bonds, 2% cash and equivalents and 1% investment grade corporate bonds.
Source: Form ADV Part 1A, Items 5.K.(1) and 7.B, from the SEC's 2 October 2026 data file
Who owns Murray Financial Group?
Murray Financial Group’s direct owners are Richard Murray (50% to 75%), Jonathan Murray (10% to 25%), Lawrence Gartner (10% to 25%) and Timothy Jaynes (10% to 25%).
Source: Form ADV Part 1A, Schedules A and B, filed 4 February 2026
How does Murray Financial Group get paid?
Murray Financial Group is paid through a percentage of assets under management and hourly charges. 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 Murray Financial Group?
Murray Financial Group’s main office is at 200 North Broadway Ave., Albert Lea, MN 56007. Its phone number is 507-373-8216. Its website is iscfinancialadvisors.com.