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Mutual Advisors

Wealth managementRIA network

Omaha, NECRD 167658Updated

Mutual Advisors is an investment adviser based in Omaha, NE, registered with the SEC since 2013. It provides financial planning and investment management. Its clients include high-net-worth individuals, individual clients, and pension and profit-sharing plans. Its regulatory assets under management total $9.45 billion, as filed on 30 September 2026.

$9.45B
AUM
9,960
Clients
$916K
AUM per individual client
158
Advisory staff
76
Offices
2.00%
Annual fee
Up to

From Form ADV filed 30 September 2026SEC record

Services and clients

Mutual Advisors 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 251–500 clients last fiscal year.

Mutual Advisors reports 9,960 clients. They include 7,501 individual clients, 2,233 high-net-worth individuals, and 140 pension and profit-sharing plans. Of its assets, 97.0% ($9.17B across 22,524 accounts) are managed with discretion; $280M across 1,771 accounts are not. A wrap fee program the firm both sponsors and manages holds $13.8B. It advised 30 clients without assets under management last fiscal year.

Clients and assets by client type
Clients9,960 clients reported
Assets$9.45B
Share of clients and assets by client type
Client typeClientsAssets
Individuals (other than HNW)75%24%
High-net-worth individuals22%70%
Pension and profit-sharing plans1%3%
Sovereign wealth funds and foreign official institutionsFewer than 5<1%
Corporations and other businesses<1%2%

Client shares use reported counts. Client types without a reported count are excluded from that total.

Client breakdown and activity details
Individuals (other than HNW)
Clients
7,501
Regulatory AUM
$2.28B
AUM share
24.1%
Avg. per client
$304K
High-net-worth individuals
Clients
2,233
Regulatory AUM
$6.63B
AUM share
70.2%
Avg. per client
$2.97M
Pension and profit-sharing plans
Clients
140
Regulatory AUM
$280M
AUM share
3.0%
Avg. per client
$2M
Sovereign wealth funds and foreign official institutions
Clients
Fewer than 5
Regulatory AUM
$24.4M
AUM share
0.3%
Avg. per client
—
Corporations and other businesses
Clients
86
Regulatory AUM
$228M
AUM share
2.4%
Avg. per client
$2.65M

Total

Clients
9,960
Regulatory AUM
$9.45B
AUM share
100%
Avg. per client
—
Clients outside the U.S.
0%
Clients advised without assets under management last fiscal year
30
Private funds advised
0
Financial planning clients last fiscal year
251–500

Fees and minimums

Mutual Advisors charges up to 2.00% a year for its Investment Management Services; its fees and minimums are set out in its brochures on the SEC website.

Ownership and people

Mutual Group, Inc. owns 75% or more of Mutual Advisors and is in turn owned by The Jasper Wyoming Trust (50–75%). Aaron Jasper is CEO; the leadership team includes President Chris Tremble and Chief Compliance Officer Debra Shannon. It has 223 employees, 158 of them in advisory roles.

Leadership

Investment adviser representatives

153 representatives listed in the SEC register as of 9 October 2026.

  • Ricky Ackerman
  • Jeffrey Adler
  • Susan Carol Agiert
  • Joseph Rocco Agresto
  • Charles Robert Aikins Jr
  • Miriam Ochoa Angel
  • Brian Anthony Bachelier
  • Christopher J Barber
  • Evan Crook Barrett
  • Maili Renae Bergman
  • Scott David Biermann
  • Stephanie Margo Bloomberg

Staff

  • 223 employees
  • 158 in advisory functions
  • 158 state-registered reps
  • 76 broker-dealer reps
  • 85 insurance agents
  • 1 soliciting firm
Who owns the firm
Mutual Advisors, LLC· the adviser

  • Mutual Group, Inc.

    Control person · since October 2023

    Owns 75% or more of Mutual Advisors, LLC

    • The Jasper Wyoming Trust

      Control person · since October 2023

      Owns 50% to 75% of Mutual Group, Inc.

      • Jasper Single Family Private Trust Company LLC

        Control person · since March 2016

        Owns 75% or more of The Jasper Wyoming Trust

        • Aaron Jasper

          Control person · since March 2016

          Owns 75% or more of Jasper Single Family Private Trust Company LLC

    • Nicholas Damiani

      Owner · Control person · since October 2023

    • The Sabol Wyoming Trust

      Member · Control person · since October 2023

      • Sabol Single Family Private Trust Company, LLC

        Control person · since April 2013

        Owns 75% or more of The Sabol Wyoming Trust

        • Ryan Sabol

          Control person · since December 2015

          Owns 75% or more of Sabol Single Family Private Trust Company, LLC

Growth and acquisitions

Mutual Advisors’ regulatory assets grew 2.0× from $4.61B (June 2022) to $9.45B (September 2026); clients rose from 7,065 to 9,960 and employees from 207 to 223. In 2022, Gaia Capital Management ($36.4M in its last filing) joined it.

By annual filing
Measure
Figures from each annual filing
Mutual Advisors figures from each annual Form ADV filing
FiledRegulatory AUMClientsEmployeesOffices
September 2026$9.45B9,96022376
June 2026$8.55B9,47320876
June 2024$6.95B8,88225576
June 2023$5.31B8,87026272
June 2022$4.61B7,06520768

Firms that joined

  1. 20221 joined

    1. Gaia Capital Management
      Form ADV-W, CRD 134697
      Last filed AUM $36.4M

Firms whose SEC withdrawal reports a sale to this firm, and deals reported in the press. Teams that moved without selling a registered firm may not appear.

Offices and registration details

Besides its headquarters, Mutual Advisors has 75 offices, with 27 listed addresses across 13 states.

Listed office addresses by state

Nebraska · 2 listed addresses

  • 9140 W Dodge Road, Suite 230, OmahaHQ
  • 9140 W. Dodge, Omaha

Other business names

Mutual Advisors has reported 64 other business names to the SEC.

  • 21:5 Wealth Management
  • Adler Capital Advisors
  • Bamboo Financial Advisors
  • Barrett Planning Group
  • Beyond
  • Beyond Financial Advisors
  • California Retirement Advisors
  • Collop Capital
  • Context Wealth
  • DCH Wealth Management
  • Del Rey Capital Management
  • Dmi Wealth Management & Insurance Solutions
Show all 64 names
  • Erx Wealth Partners
  • Fairbanks Wealth Management
  • Financial Journey Partners
  • Front Office Wealth Strategies
  • Gaia Capital Management
  • Grey Fox Financial Partners
  • Haddam Road Advisors
  • Hawthorne Capital Wealth Advisors
  • Hosler Wealth Management
  • Insightful Advisory
  • Ironcladnil
  • Kiely Consulting
  • King Capital Management
  • Larsen Wealth Strategies
  • Long Term Capital Management
  • Monument Investment Advisors
  • Mutual Group
  • Mutual Group Investment Solutions
  • Myers Dewitt
  • Nance Wealth Management
  • Nfuse Cpaital
  • North Country Wealth Management
  • Oasis Advisers
  • Pascarella Planning Group
  • Polaris Financial
  • Prime Solutions Investments
  • Purple Clover Wealth Management
  • R. S. Peterson Financial
  • Resultpoint Financial
  • Rosehill Asset Management
  • Scanlon Wealth Management
  • Sierra Investment Advisors
  • Silver State Wealth Management
  • Sonder Private Wealth Management
  • Soul Wealth Advisor
  • Spectra Private Wealth
  • Sterling Oaks Financial Services
  • Stillwater Wealth Management
  • Stone & Down Wealth Management
  • Stoneford Advisors
  • Sullivan Wealth Management Group
  • Swain Financial Services
  • Vision Wealth
  • Wealth Management Strategies
  • Wealth Partners
  • Whitehouse Wealth Management
  • Willis Eckfeldt
  • Winthrop Taylor Financial
  • Wise Capital Partners
  • Wise Oak Wealth
  • Yield Advisory
  • Zealand Wealth Management

Contact and registration details

Legal name
Mutual Advisors, LLC
Headquarters
9140 W Dodge Road, Suite 230, Omaha, NE 68114
Website
stillwaterwm.com
Phone
307-439-6357
LinkedIn
@mutualadvisors
SEC file
801-78089
Structure
Wyoming LLC
Fiscal year end
June

Custodians

Mutual Advisors uses Fidelity ($5.2B, 57%) and Charles Schwab ($3.9B, 43%) as custodians for its separately managed accounts. Mutual Advisors has custody of $1.08B in client assets for 1,872 clients.

Reported separately managed account assets by custodian
$9.09B
named custodians
  • FidelityFidelity Brokerage Services LLC · Smithfield, RI · $5.2B57%
  • Charles SchwabCharles Schwab & Co., Inc. · San Francisco, CA · $3.9B43%

Investments and reported holdings

At year end, Mutual Advisors’ separately managed accounts were mostly in funds (62%) and stocks (25%). Its reported 13F holdings for the quarter ended 30 June 2026 total $5.31B across 1,392 positions; the largest are State Str SPDR S&P 500 ETF T (5.3%), iShares TR (4.5%) and Apple Inc. (3.6%).

What the accounts hold

Separately managed account assets by class, year end
  • Stocks25%
    • Exchange-traded equities24%
    • Non-exchange-traded equities1%
  • Funds62%
    • Registered funds61%
    • Pooled vehicles1%
  • Bonds4%
    • U.S. government and agency bonds2%
    • State and local bonds1%
    • Investment grade corporate bonds1%
  • Cash8%
  • Other1%
    • Illiquid alternative investment assets, structured notes, variable annuities, principal paydown bonds1%

Reported 13F holdings

$5.31B
Reported 13F value
1,392
Positions
26.7%
In the 10 largest
+13.8%
Value vs. prior quarter
Ten largest positions, share of reported value
  1. State Str SPDR S&P 500 ETF T · TR Unit5.3%
  2. iShares TR · 7-10 YR Trsy BD4.5%
  3. Apple Inc.3.6%
  4. iShares TR · Core S&P500 ETF2.9%
  5. Berkshire Hathaway Inc. Del · CL B New2.0%
  6. iShares TR · 0-3 Mth Treasury2.0%
  7. Microsoft Corp.1.7%
  8. Eli Lilly & CO1.6%
  9. Vanguard Index Fds · S&P 500 ETF Shs1.5%
  10. Nvidia Corporation1.5%

Together, the ten largest are 26.7% of reported value.

The 50 largest positions and quarterly changesQuarter ended 30 June 2026 · filed 14 August 2026

Common questions

How many clients does Mutual Advisors have?

Mutual Advisors has 9,960 clients and manages $9.45 billion for them, as of September 2026. They include 7,501 individual clients, 2,233 high-net-worth individuals, and 140 pension and profit-sharing plans.

Source: Form ADV Part 1A, Items 5.D and 5.F, filed 30 September 2026

What services does Mutual Advisors offer?

Mutual Advisors 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 Mutual Advisors charge?

Mutual Advisors charges up to 2.00% a year for its Investment Management Services.

Source: ADV PART 2A, filed 30 September 2026

Which custodians does Mutual Advisors use?

Mutual Advisors’ separately managed account assets are held at Fidelity Brokerage Services LLC (Smithfield, RI), with $5.2B and Charles Schwab & Co., Inc. (San Francisco, CA), with $3.9B. Only custodians holding at least a tenth of those assets are named.

Source: Form ADV Part 1A, Schedule D, Section 5.K.(3), filed 30 September 2026

How many financial advisors does Mutual Advisors have?

Mutual Advisors has 158 investment adviser representatives registered with state securities authorities, out of 223 employees, and 158 perform investment advisory functions. 76 employees are registered representatives of a broker-dealer and 85 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 Mutual Advisors invest in?

At the end of its last fiscal year, Mutual Advisors’ separately managed accounts held 61% registered funds (mutual funds, ETFs, BDCs), 24% exchange-traded equities, 8% cash and equivalents, 2% U.S. government and agency bonds, 1% non-exchange-traded equities, 1% state and local bonds, 1% investment grade corporate bonds, 1% pooled vehicles (private funds and similar) and 1% other. The 1% other category is described as: Illiquid Alternative Investment Assets, Structured Notes, Variable Annuities, Principal Paydown Bonds.

Source: Form ADV Part 1A, Items 5.K.(1) and 7.B, from the SEC's 2 October 2026 data file

Who owns Mutual Advisors?

Mutual Advisors is owned through a chain of holding companies by Aaron Jasper and Ryan Sabol. Its direct owner is Mutual Group, Inc. (75% or more).

Source: Form ADV Part 1A, Schedules A and B, filed 30 September 2026

How does Mutual Advisors get paid?

Mutual Advisors 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 Mutual Advisors?

Mutual Advisors’ main office is at 9140 W Dodge Road, Suite 230, Omaha, NE 68114. Its phone number is 307-439-6357. Its website is stillwaterwm.com.

Source: Form ADV Part 1A, Item 1.F, filed 30 September 2026

Sources and methodology

  1. Form ADV Part 1A, amendment filed 30 September 2026. Items 1, 5, 9, 11 and Schedules A, B and D.
  2. ADV PART 2A, submitted 30 September 2026.
  3. SEC-filed document.
  4. IAPD firm record, CRD 167658.
  5. SEC registered adviser data, annual Form ADV amendments filed 8 June 2022 to 30 September 2026. Items 1.F and 5.
  6. Form ADV-W withdrawals of the firms listed under Growth and acquisitions, each linked to its IAPD record, from the SEC's Form ADV-W data. Item 1.
  7. SEC investment adviser representative register, as of 9 October 2026; loaded 10 October 2026.
  8. Form 13F-HR, filed 14 August 2026 for the quarter ended 30 June 2026.

Retrieved 15 October 2026. All are published by the SEC and may have been amended since. Disciplinary history is not yet shown here. The SEC publishes the complete record, including any disciplinary events, and it is the authoritative place to check one.

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