Punch & Associates Investment Management provides financial planning, portfolio management for individuals and small businesses, portfolio management for investment companies, portfolio management for pooled vehicles, portfolio management for institutions, and publishing newsletters. Financial planning was provided to 500 clients last fiscal year. The firm advises 2 private funds.
Punch & Associates Investment Management reports 562 clients. They include 333 high-net-worth individuals, 208 individual clients and 9 charitable organizations. Of its assets, 100.0% ($2.03B across 559 accounts) are managed with discretion. It advised 19 clients without assets under management last fiscal year.
| Client type | Clients | Assets |
|---|---|---|
| Individuals (other than HNW) | 37% | 4% |
| High-net-worth individuals | 59% | 66% |
| Investment companies | <1% | 0% |
| Pooled investment vehicles | <1% | 19% |
| Pension and profit-sharing plans | <1% | 5% |
| Other client typesCharitable organizations; Other investment advisers; Corporations and other businesses | 3% | 5% |
Client breakdown and activity details
| Client type | Clients | Regulatory AUM | AUM share | Avg. per client |
|---|---|---|---|---|
| Individuals (other than HNW) | 208 | $72.2M | 3.6% | $347K |
| High-net-worth individuals | 333 | $1.35B | 66.5% | $4.04M |
| Investment companies | 1 | $0 | 0.0% | $0 |
| Pooled investment vehicles | 2 | $387M | 19.1% | $193M |
| Pension and profit-sharing plans | Fewer than 5 | $110M | 5.4% | $36.8M |
| Charitable organizations | 9 | $71M | 3.5% | $7.89M |
| Other investment advisers | Fewer than 5 | $0 | 0.0% | $0 |
| Corporations and other businesses | 5 | $39.9M | 2.0% | $7.99M |
| Total | 562 | $2.03B | 100% | — |
- Clients
- 208
- Regulatory AUM
- $72.2M
- AUM share
- 3.6%
- Avg. per client
- $347K
- Clients
- 333
- Regulatory AUM
- $1.35B
- AUM share
- 66.5%
- Avg. per client
- $4.04M
- Clients
- 1
- Regulatory AUM
- $0
- AUM share
- 0.0%
- Avg. per client
- $0
- Clients
- 2
- Regulatory AUM
- $387M
- AUM share
- 19.1%
- Avg. per client
- $193M
- Clients
- Fewer than 5
- Regulatory AUM
- $110M
- AUM share
- 5.4%
- Avg. per client
- $36.8M
- Clients
- 9
- Regulatory AUM
- $71M
- AUM share
- 3.5%
- Avg. per client
- $7.89M
- Clients
- Fewer than 5
- Regulatory AUM
- $0
- AUM share
- 0.0%
- Avg. per client
- $0
- Clients
- 5
- Regulatory AUM
- $39.9M
- AUM share
- 2.0%
- Avg. per client
- $7.99M
Total
- Clients
- 562
- Regulatory AUM
- $2.03B
- AUM share
- 100%
- Avg. per client
- —
- Clients outside the U.S.
- 0%
- Clients advised without assets under management last fiscal year
- 19
- Private funds advised
- 2
- Financial planning clients last fiscal year
- 500
Punch & Associates Investment Management charges 1.00% for its Private Client Fee Schedule. The brochure does not state whether the rate is annual. The whole portfolio is charged at the rate of its band. The brochure also prices 3 other services, listed under fee details.
| Asset band | Rate (period not stated) |
|---|---|
| $0 and above | 1.00% |
Fee details and sources
Other fees
- Supervised accounts
- Supervised accounts, where Punch reviews and comments on holdings and reports on performance, are charged 0.50% of gross assets under supervision.
- Unmanaged accounts
- Unmanaged accounts, held on Punch's platform for balances and administrative matters, are charged 0.10% of gross assets under advisement.
- Wealth Advisory
- Wealth Advisory is generally included with no additional fee, though Punch may negotiate fees based on the complexity of the client's needs.
Howard Punch owns 50% to 75% of Punch & Associates Investment Management. Andrew Matysik is CEO; the leadership team includes Chief Investment Officer Howard Punch, Chief Financial Officer Cory Kiner and Chief Compliance Officer Todd Spicer. It has 34 employees, 18 of them in advisory roles.
Staff
- 34 employees
- 18 in advisory functions
- 18 state-registered reps
- Owns 50% to 75% of Punch & Associates Investment Management, Inc.
Howard Punch
Control person · since July 2001
- Owns 10% to 25% of Punch & Associates Investment Management, Inc.
Andrew Matysik
Control person · since January 2024
- Owns 10% to 25% of Punch & Associates Investment Management, Inc.
John Carraux
Control person · since January 2013
- Owns 5% to 10% of Punch & Associates Investment Management, Inc.
Jessica Johnson
Control person · since July 2017
- Owns 5% to 10% of Punch & Associates Investment Management, Inc.
Paul Dwyer
Control person · since July 2023
Punch & Associates Investment Management’s regulatory assets grew from $1.6B (March 2021) to $2.03B (April 2026); clients rose from 499 to 562 and employees from 15 to 34.
Figures from each annual filing
| Filed | Regulatory AUM | Clients | StaffEmployees | Offices |
|---|---|---|---|---|
| Apr 2026April 2026 | $2.03B | 562 | 34 | 1 |
| Apr 2025April 2025 | $2.09B | 588 | 31 | 1 |
| Mar 2024March 2024 | $1.86B | 565 | 28 | 1 |
| Jul 2023July 2023 | $1.77B | 552 | 24 | 1 |
| Mar 2022March 2022 | $2.08B | 515 | 23 | 1 |
| Mar 2021March 2021 | $1.6B | 499 | 15 | 1 |
Besides its headquarters, Punch & Associates Investment Management has 0 offices, with 1 listed address in 1 state.
Minnesota · 1 listed address
- 7701 France Avenue South, #300, EdinaHQ
Contact and registration details
- Legal name
- Punch & Associates Investment Management, Inc.
- Headquarters
- 7701 France Avenue South, #300, Edina, MN 55435
- Website
- punchinvest.com
- Phone
- 952-224-4350
- SEC file
- 801-61205
- Structure
- Minnesota corporation
- Fiscal year end
- December
Punch & Associates Investment Management’s named custodian for separately managed accounts is Fidelity ($1.49B). Punch & Associates Investment Management has custody of $1.12B for 215 clients.
- FidelityFidelity Brokerage Services LLC · Smithfield, RI · $1.49B100%
At year end, Punch & Associates Investment Management’s separately managed accounts were mostly in stocks (84%) and bonds (11%). Its reported 13F holdings for the quarter ended 30 June 2026 total $2.02B across 164 positions; the largest are Stonex Group Inc. (4.1%), Arcosa Inc. (2.5%) and Universal Technical Inst Inc. (2.3%).
What the accounts hold
- Stocks84%
- Exchange-traded equities83%
- Non-exchange-traded equities1%
- Funds3%
- Bonds11%
- U.S. government and agency bonds5%
- Investment grade corporate bonds3%
- State and local bonds2%
- High-yield corporate bonds1%
- Cash2%
How many clients does Punch & Associates Investment Management have?
Punch & Associates Investment Management has 562 clients and manages $2.03 billion for them, as of April 2026. They include 333 high-net-worth individuals, 208 individual clients and 9 charitable organizations.
Source: Form ADV Part 1A, Items 5.D and 5.F, filed 30 April 2026
What services does Punch & Associates Investment Management offer?
Punch & Associates Investment Management provides financial planning, portfolio management for individuals and small businesses, portfolio management for investment companies, portfolio management for pooled vehicles, portfolio management for institutions, and publishing newsletters.
Source: Form ADV Part 1A, Item 5.G, from the SEC's 2 October 2026 data file
How much does Punch & Associates Investment Management charge?
Punch & Associates Investment Management charges 1.00% for its Private Client Fee Schedule. The brochure does not state whether the rate is annual. The whole portfolio is charged at the rate of its band.
Source: PUNCH & ASSOCIATES INVESTMENT MANAGEMENT, INC. DISCLOSURE BROCHURE, filed 31 March 2026
Which custodians does Punch & Associates Investment Management use?
Punch & Associates Investment Management’s separately managed account assets are held at Fidelity Brokerage Services LLC (Smithfield, RI), with $1.49B. 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 April 2026
How many financial advisors does Punch & Associates Investment Management have?
Punch & Associates Investment Management has 18 investment adviser representatives registered with state securities authorities, out of 34 employees, and 18 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 Punch & Associates Investment Management invest in?
At the end of its last fiscal year, Punch & Associates Investment Management’s separately managed accounts held 83% exchange-traded equities, 5% U.S. government and agency bonds, 3% investment grade corporate bonds, 3% registered funds (mutual funds, ETFs, BDCs), 2% state and local bonds, 2% cash and equivalents, 1% non-exchange-traded equities and 1% high-yield corporate bonds. It advises 2 private funds.
Source: Form ADV Part 1A, Items 5.K.(1) and 7.B, from the SEC's 2 October 2026 data file
Who owns Punch & Associates Investment Management?
Punch & Associates Investment Management’s direct owners are Howard Punch (50% to 75%), Andrew Matysik (10% to 25%), John Carraux (10% to 25%), Jessica Johnson (5% to 10%) and Paul Dwyer (5% to 10%).
Source: Form ADV Part 1A, Schedules A and B, filed 30 April 2026
How does Punch & Associates Investment Management get paid?
Punch & Associates Investment Management is paid through a percentage of assets under management, fixed fees, performance-based fees and other compensation. Its Form ADV lists no commissions 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 Punch & Associates Investment Management?
Punch & Associates Investment Management’s main office is at 7701 France Avenue South, #300, Edina, MN 55435. Its phone number is 952-224-4350. Its website is punchinvest.com.