Mustard Seed Financial provides financial planning, portfolio management for individuals and small businesses, and educational seminars. Financial planning was provided to 101–250 clients last fiscal year.
Mustard Seed Financial reports 734 clients. They include 528 individual clients, 151 high-net-worth individuals and 28 charitable organizations. Of its assets, 96.0% ($431M across 1,541 accounts) are managed with discretion; $18.2M across 80 accounts are not. It advised 24 clients without assets under management last fiscal year.
| Client type | Clients | Assets |
|---|---|---|
| Individuals (other than HNW) | 72% | 41% |
| High-net-worth individuals | 21% | 53% |
| Pension and profit-sharing plans | 3% | <1% |
| Charitable organizations | 4% | 5% |
| Corporations and other businesses | <1% | <1% |
Client breakdown and activity details
| Client type | Clients | Regulatory AUM | AUM share | Avg. per client |
|---|---|---|---|---|
| Individuals (other than HNW) | 528 | $184M | 41.0% | $349K |
| High-net-worth individuals | 151 | $240M | 53.4% | $1.59M |
| Pension and profit-sharing plans | 25 | $2.72M | 0.6% | $109K |
| Charitable organizations | 28 | $22M | 4.9% | $786K |
| Corporations and other businesses | Fewer than 5 | $396K | 0.1% | $198K |
| Total | 734 | $449M | 100% | — |
- Clients
- 528
- Regulatory AUM
- $184M
- AUM share
- 41.0%
- Avg. per client
- $349K
- Clients
- 151
- Regulatory AUM
- $240M
- AUM share
- 53.4%
- Avg. per client
- $1.59M
- Clients
- 25
- Regulatory AUM
- $2.72M
- AUM share
- 0.6%
- Avg. per client
- $109K
- Clients
- 28
- Regulatory AUM
- $22M
- AUM share
- 4.9%
- Avg. per client
- $786K
- Clients
- Fewer than 5
- Regulatory AUM
- $396K
- AUM share
- 0.1%
- Avg. per client
- $198K
Total
- Clients
- 734
- Regulatory AUM
- $449M
- AUM share
- 100%
- Avg. per client
- —
- Clients outside the U.S.
- 0%
- Clients advised without assets under management last fiscal year
- 24
- Private funds advised
- 0
- Financial planning clients last fiscal year
- 101–250
Mustard Seed Financial charges 0.50%–1.00% a year for its Portfolio Management Services. The fee is billed in advance, is negotiable and has a $2,000 annual minimum. The brochure also prices one other service, listed under fee details.
Fee details and sources
Other fees
- Consulting Services
- Consulting unrelated to assets under management is billed at an hourly rate of $250.
The leadership team of Mustard Seed Financial includes Chief Compliance Officer Jennifer Milam. It has 10 employees, 9 of them in advisory roles.
Leadership
- Jennifer MilamMember, Chief Compliance Officer
- James AshbyManaging Member
- Jonathan BairdManaging Member
- Bruce ButterfieldManaging Member
- Angela GlassManaging Member
- Minna GreenMember
- Laurie PinnerMember
- Zachary TalleyMember
Investment adviser representatives
9 representatives listed in the SEC register as of 9 October 2026.
Staff
- 10 employees
- 9 in advisory functions
- 9 state-registered reps
- 3 soliciting firms
- Owns 10% to 25% of Mustard Seed Financial, LLC
Angela Glass
Control person · since January 2011
- Owns 10% to 25% of Mustard Seed Financial, LLC
Bruce Butterfield
Control person · since January 2011
- Owns 10% to 25% of Mustard Seed Financial, LLC
Jonathan Baird
Control person · since January 2013
- Owns 10% to 25% of Mustard Seed Financial, LLC
Laurie Pinner
since January 2017
- Owns 10% to 25% of Mustard Seed Financial, LLC
Jennifer Milam
since January 2019
- Owns 5% to 10% of Mustard Seed Financial, LLC
Zachary Talley
since January 2017
- Owns 5% to 10% of Mustard Seed Financial, LLC
Minna Green
since July 2021
Mustard Seed Financial’s regulatory assets grew 1.6× from $285M (March 2021) to $449M (March 2026); clients rose from 566 to 734 and employees were 10 in both filings.
Figures from each annual filing
| Filed | Regulatory AUM | Clients | Employees | Offices |
|---|---|---|---|---|
| March 2026 | $449M | 734 | 10 | 6 |
| March 2025 | $414M | 735 | 10 | 6 |
| February 2024 | $364M | 737 | 9 | 5 |
| July 2023 | $313M | 706 | 11 | 7 |
| May 2022 | $331M | 599 | 10 | 5 |
| March 2021 | $285M | 566 | 10 | 5 |
Besides its headquarters, Mustard Seed Financial has 5 offices, with 6 listed addresses in Arkansas, Louisiana and Texas.
Arkansas · 4 listed addresses
- 202 S. Pine, MagnoliaHQ
- 500 North Jackson, Magnolia
- 443 N. Washington, El Dorado
- 108 East 19th, Hope
Louisiana · 1 listed address
- 1908 Roselawn Ave, Monroe
Texas · 1 listed address
- 5329 Summerhill RD., Texarkana
Other business names
Mustard Seed Financial has reported 1 other business name to the SEC.
- Mustard Seed Wealth Management
Contact and registration details
- Legal name
- Mustard Seed Financial, LLC
- Headquarters
- 202 S. Pine, Magnolia, AR 71753
- Website
- msfwm.com
- Phone
- 870-234-1618
- @mustard-seed-wealth-management
- SEC file
- 801-66155
- Structure
- Arkansas LLC
- Fiscal year end
- December
Mustard Seed Financial uses Charles Schwab ($426M) as custodian for its separately managed accounts. Mustard Seed Financial does not have custody of client assets.
- Charles SchwabCharles Schwab & Co., Inc. · Westlake, TX · $426M100%
At year end, Mustard Seed Financial’s separately managed accounts were mostly in funds (78%). Its reported 13F holdings for the quarter ended 30 June 2026 total $192M across 97 positions; the largest are Vanguard BD Index Fds (8.7%), Vanguard Scottsdale Fds (8.0%) and Vanguard Index Fds (6.8%).
What the accounts hold
- Stocks9%
- Funds78%
- Bonds5%
- State and local bonds4%
- U.S. government and agency bonds1%
- Cash8%
Reported 13F holdings
- $192M
- Reported 13F value
- 97
- Positions
- 54.2%
- In the 10 largest
- +15.3%
- Value vs. prior quarter
- Vanguard BD Index Fds · Short Trm Bond8.7%
- Vanguard Scottsdale Fds · Shrt Trm Corp. BD8.0%
- Vanguard Index Fds · Growth ETF6.8%
- Vanguard BD Index Fds · Intermed Term6.2%
- Dimensional ETF Trust · US Larg Valu ETF5.3%
- Vanguard Mun BD Fds · Tax Exempt BD4.4%
- Vanguard Index Fds · Value ETF4.3%
- Dimensional ETF Trust · Intl Core EQT MK4.1%
- Vanguard Star Fds · VG TL Intl Stk F3.5%
- Walmart Inc.2.9%
Together, the ten largest are 54.2% of reported value.
How many clients does Mustard Seed Financial have?
Mustard Seed Financial has 734 clients and manages $449 million for them, as of March 2026. They include 528 individual clients, 151 high-net-worth individuals and 28 charitable organizations.
Source: Form ADV Part 1A, Items 5.D and 5.F, filed 4 March 2026
What services does Mustard Seed Financial offer?
Mustard Seed Financial provides financial planning, portfolio management for individuals and small businesses, and educational seminars.
Source: Form ADV Part 1A, Item 5.G, from the SEC's 2 October 2026 data file
How much does Mustard Seed Financial charge?
Mustard Seed Financial charges 0.50%–1.00% a year for its Portfolio Management Services. The fee is billed in advance, is negotiable and has a $2,000 annual minimum.
Which custodians does Mustard Seed Financial use?
Mustard Seed Financial’s separately managed account assets are held at Charles Schwab & Co., Inc. (Westlake, TX), with $426M. 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 March 2026
How many financial advisors does Mustard Seed Financial have?
Mustard Seed Financial has 9 investment adviser representatives registered with state securities authorities, out of 10 employees, and 9 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 Mustard Seed Financial invest in?
At the end of its last fiscal year, Mustard Seed Financial’s separately managed accounts held 78% registered funds (mutual funds, ETFs, BDCs), 9% exchange-traded equities, 8% cash and equivalents, 4% state and local bonds and 1% U.S. government and agency bonds.
Source: Form ADV Part 1A, Items 5.K.(1) and 7.B, from the SEC's 2 October 2026 data file
Who owns Mustard Seed Financial?
Mustard Seed Financial’s direct owners are Angela Glass, Bruce Butterfield, Zachary Talley, Jonathan Baird, Laurie Pinner, Jennifer Milam and Minna Green, each holding 25% or less.
Source: Form ADV Part 1A, Schedules A and B, filed 4 March 2026
How does Mustard Seed Financial get paid?
Mustard Seed Financial 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
Is Mustard Seed Financial registered with the SEC?
Yes, Mustard Seed Financial has been registered with the SEC as an investment adviser since 2 May 2006. Its CRD number is 117737 and its SEC file number is 801-66155.
Source: Form ADV Part 1A, Item 1, filed 4 March 2026; IAPD firm record
How do I contact Mustard Seed Financial?
Mustard Seed Financial’s main office is at 202 S. Pine, Magnolia, AR 71753. Its phone number is 870-234-1618. Its website is msfwm.com.