Petros Family Wealth provides financial planning, portfolio management for individuals and small businesses, portfolio management for institutions, and selecting other managers. Financial planning was provided to 251–500 clients last fiscal year.
Petros Family Wealth reports 533 clients. They include 444 individual clients, 83 high-net-worth individuals and 4 charitable organizations. Of its assets, 89.5% ($306M across 1,583 accounts) are managed with discretion; $35.9M across 153 accounts are not. A wrap fee program the firm both sponsors and manages holds $342M.
| Client type | Clients | Assets |
|---|---|---|
| Individuals (other than HNW) | 83% | 32% |
| High-net-worth individuals | 16% | 66% |
| Charitable organizations | <1% | 1% |
| 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) | 444 | $110M | 32.1% | $247K |
| High-net-worth individuals | 83 | $226M | 66.2% | $2.73M |
| Charitable organizations | Fewer than 5 | $4.61M | 1.3% | $1.15M |
| Corporations and other businesses | Fewer than 5 | $956K | 0.3% | $478K |
| Total | 533 | $342M | 100% | — |
- Clients
- 444
- Regulatory AUM
- $110M
- AUM share
- 32.1%
- Avg. per client
- $247K
- Clients
- 83
- Regulatory AUM
- $226M
- AUM share
- 66.2%
- Avg. per client
- $2.73M
- Clients
- Fewer than 5
- Regulatory AUM
- $4.61M
- AUM share
- 1.3%
- Avg. per client
- $1.15M
- Clients
- Fewer than 5
- Regulatory AUM
- $956K
- AUM share
- 0.3%
- Avg. per client
- $478K
Total
- Clients
- 533
- Regulatory AUM
- $342M
- AUM share
- 100%
- Avg. per client
- —
- Clients outside the U.S.
- 0%
- Clients advised without assets under management last fiscal year
- 0
- Private funds advised
- 0
- Financial planning clients last fiscal year
- 251–500
Petros Family Wealth is paid through a percentage of assets under management, fixed fees (other than subscription fees) and other compensation. The reviewed brochures do not disclose an asset-based fee rate. Read the SEC-filed brochure. The brochure also prices 2 other services, listed under fee details.
Fee details and sources
Other fees
- Financial Planning and Consulting
- Stand-alone financial planning and consulting are billed on a fixed rate basis from $500 to $10,000, depending on complexity, with a retainer to begin.
- Wells Fargo Advisory Programs
- Wells Fargo programs carry maximum annual fees of 2.00% (Private Advisor Network), 1.75% (Personalized Unified Managed Account) and 1.50% (FundSource), inclusive of Wells Fargo's fees.
Carl Lymangood owns 75% or more of Petros Family Wealth. The leadership team of Petros Family Wealth includes President Carl Lymangood. It has 9 employees, 8 of them in advisory roles.
Leadership
- Carl LymangoodPresident and Chief Compliance Officer
Investment adviser representatives
8 representatives listed in the SEC register as of 9 October 2026.
- Bixby Tyler Gilbertson
- Thomas Harwell Jenkins
- Breanna Ruth Jensen
- Cade Johnson
- Carl Robert Lymangood
- Camie Moen Quigley
- Deanna Kay Rens
- Bridget Ellen Wiltse
Staff
- 9 employees
- 8 in advisory functions
- 9 state-registered reps
- Owns 75% or more of Petros Family Wealth, LLC
Carl Lymangood
Control person · since November 2022
Petros Family Wealth’s regulatory assets grew 2.3× from $151M (March 2023) to $342M (February 2026); clients rose from 187 to 533 and employees from 6 to 9.
Figures from each annual filing
| Filed | Regulatory AUM | Clients | Employees | Offices |
|---|---|---|---|---|
| February 2026 | $342M | 533 | 9 | 2 |
| February 2025 | $274M | 412 | 6 | 1 |
| March 2024 | $231M | 397 | 6 | 1 |
| March 2023 | $151M | 187 | 6 | 1 |
Besides its headquarters, Petros Family Wealth has 1 office, with 2 listed addresses in Minnesota.
Minnesota · 2 listed addresses
- 8500 Normandale Lake BLVD, Suite 850, BloomingtonHQ
- 7213 Forestview Lane N, Maple Grove
Contact and registration details
- Legal name
- Petros Family Wealth, LLC
- Headquarters
- 8500 Normandale Lake BLVD, Suite 850, Bloomington, MN 55437
- Website
- petrosfw.com
- Phone
- 612-643-9995
- @petros-family-wealth
- SEC file
- 801-126983
- Structure
- Minnesota LLC
- Fiscal year end
- December
Petros Family Wealth uses Wells Fargo Clearing Services ($342M) as custodian for its separately managed accounts. Petros Family Wealth has custody of $5.45M in client assets for 18 clients.
- Wells Fargo Clearing ServicesWells Fargo Clearing Services, LLC · St. Louis, MO · $342M100%
At year end, Petros Family Wealth’s separately managed accounts were mostly in stocks (59%) and funds (14%). Its reported 13F holdings for the quarter ended 30 June 2026 total $164M across 134 positions; the largest are State Str SPDR S&P 500 ETF T (5.8%), American Centy ETF TR (4.9%) and Apple Inc. (4.8%).
What the accounts hold
- Stocks59%
- Funds14%
- Bonds9%
- Cash6%
- Other12%
- Structured notes12%
Reported 13F holdings
- $164M
- Reported 13F value
- 134
- Positions
- 36.8%
- In the 10 largest
- +16.5%
- Value vs. prior quarter
- State Str SPDR S&P 500 ETF T · TR Unit5.8%
- American Centy ETF TR · Intl EQT ETF4.9%
- Apple Inc.4.8%
- Vanguard Tax-managed Fds · Van FTSE Dev Mkt3.8%
- KLA Corp.3.4%
- American Centy ETF TR · US Quality Grow3.4%
- Vanguard Index Fds · Mid Cap ETF3.3%
- iShares TR · Core S&P Mcp ETF2.6%
- iShares TR · 1 3 YR Treas BD2.5%
- Nvidia Corporation2.4%
Together, the ten largest are 36.8% of reported value.
How many clients does Petros Family Wealth have?
Petros Family Wealth has 533 clients and manages $342 million for them, as of February 2026. They include 444 individual clients, 83 high-net-worth individuals and 4 charitable organizations.
Source: Form ADV Part 1A, Items 5.D and 5.F, filed 27 February 2026
What services does Petros Family Wealth offer?
Petros Family Wealth provides financial planning, portfolio management for individuals and small businesses, portfolio management for institutions, and selecting other managers.
Source: Form ADV Part 1A, Item 5.G, from the SEC's 2 October 2026 data file
Which custodians does Petros Family Wealth use?
Petros Family Wealth’s separately managed account assets are held at Wells Fargo Clearing Services, LLC (St. Louis, MO), with $342M. Only custodians holding at least a tenth of those assets are named.
Source: Form ADV Part 1A, Schedule D, Section 5.K.(3), filed 27 February 2026
How many financial advisors does Petros Family Wealth have?
Petros Family Wealth has 9 investment adviser representatives registered with state securities authorities, out of 9 employees, and 8 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 Petros Family Wealth invest in?
At the end of its last fiscal year, Petros Family Wealth’s separately managed accounts held 59% exchange-traded equities, 14% registered funds (mutual funds, ETFs, BDCs), 12% other, 9% investment grade corporate bonds and 6% cash and equivalents. The 12% other category is described as: Structured Notes.
Source: Form ADV Part 1A, Items 5.K.(1) and 7.B, from the SEC's 2 October 2026 data file
Who owns Petros Family Wealth?
Petros Family Wealth’s direct owner is Carl Lymangood (75% or more).
Source: Form ADV Part 1A, Schedules A and B, filed 27 February 2026
How does Petros Family Wealth get paid?
Petros Family Wealth is paid through a percentage of assets under management, 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 Petros Family Wealth registered with the SEC?
Yes, Petros Family Wealth has been registered with the SEC as an investment adviser since 2 December 2022. Its CRD number is 324059 and its SEC file number is 801-126983.
Source: Form ADV Part 1A, Item 1, filed 27 February 2026; IAPD firm record
How do I contact Petros Family Wealth?
Petros Family Wealth’s main office is at 8500 Normandale Lake BLVD, Suite 850, Bloomington, MN 55437. Its phone number is 612-643-9995. Its website is petrosfw.com.