Shotwell Rutter Baer provides financial planning, portfolio management for individuals and small businesses, and selecting other managers. Financial planning was provided to 101–250 clients last fiscal year.
Shotwell Rutter Baer reports 282 clients. They include 220 individual clients and 62 high-net-worth individuals. Of its assets, 100.0% ($184M across 835 accounts) are managed with discretion.
| Client type | Clients | Assets |
|---|---|---|
| Individuals (other than HNW) | 78% | 34% |
| High-net-worth individuals | 22% | 66% |
Client breakdown and activity details
| Client type | Clients | Regulatory AUM | AUM share | Avg. per client |
|---|---|---|---|---|
| Individuals (other than HNW) | 220 | $62.4M | 33.9% | $284K |
| High-net-worth individuals | 62 | $121M | 66.1% | $1.96M |
| Total | 282 | $184M | 100% | $652K |
- Clients
- 220
- Regulatory AUM
- $62.4M
- AUM share
- 33.9%
- Avg. per client
- $284K
- Clients
- 62
- Regulatory AUM
- $121M
- AUM share
- 66.1%
- Avg. per client
- $1.96M
Total
- Clients
- 282
- Regulatory AUM
- $184M
- AUM share
- 100%
- Avg. per client
- $652K
- 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
- 101–250
Shotwell Rutter Baer is paid through a percentage of assets under management, hourly charges, 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 one other service, listed under fee details.
Fee details and sources
Other fees
- Project-based financial planning
- Project-based financial planning is a fixed fee, typically $2,400 to $22,000, set by the client's needs and complexity, with part paid in advance.
David Shotwell owns 75% or more of Shotwell Rutter Baer. The leadership team of Shotwell Rutter Baer includes President David Shotwell. It has 7 employees, 6 of them in advisory roles.
Staff
- 7 employees
- 6 in advisory functions
- 5 state-registered reps
- Owns 75% or more of Shotwell Rutter Baer Inc
David Shotwell
Control person · since April 2018
Shotwell Rutter Baer’s regulatory assets grew 1.6× from $116M (February 2021) to $184M (January 2026); clients fell from 306 to 282 and employees rose from 4 to 7.
Figures from each annual filing
| Filed | Regulatory AUM | Clients | StaffEmployees | Offices |
|---|---|---|---|---|
| Jan 2026January 2026 | $184M | 282 | 7 | 1 |
| Feb 2025February 2025 | $167M | 438 | 7 | 2 |
| Mar 2024March 2024 | $145M | 401 | 6 | 2 |
| Apr 2023April 2023 | $127M | 349 | 5 | 2 |
| Feb 2022February 2022 | $137M | 208 | 4 | 2 |
| Feb 2021February 2021 | $116M | 306 | 4 | 2 |
Besides its headquarters, Shotwell Rutter Baer has 0 offices, with 1 listed address in 1 state.
Michigan · 1 listed address
- 6350 West Michigan Avenue, Suite 200, LansingHQ
Contact and registration details
- Legal name
- Shotwell Rutter Baer Inc
- Headquarters
- 6350 West Michigan Avenue, Suite 200, Lansing, MI 48917
- Website
- srbadvisors.com
- Phone
- 517-321-4832
- SEC file
- 801-120091
- Structure
- Michigan corporation
- Fiscal year end
- December
Shotwell Rutter Baer’s named custodian for separately managed accounts is Charles Schwab ($179M). Shotwell Rutter Baer does not have custody of client assets.
- Charles SchwabCharles Schwab & Co., Inc. · Westlake, TX · $179M100%
At year end, Shotwell Rutter Baer’s separately managed accounts were mostly in funds (98%). Its reported 13F holdings for the quarter ended 30 June 2026 total $182M across 38 positions; the largest are Vanguard Index Fds (15.2%), American Centy ETF TR (10.5%) and Dimensional ETF Trust (7.8%).
What the accounts hold
- Funds98%
- Cash2%
How many clients does Shotwell Rutter Baer have?
Shotwell Rutter Baer has 282 clients and manages $184 million for them, as of January 2026. They include 220 individual clients and 62 high-net-worth individuals.
Source: Form ADV Part 1A, Items 5.D and 5.F, filed 29 January 2026
What services does Shotwell Rutter Baer offer?
Shotwell Rutter Baer provides financial planning, portfolio management for individuals and small businesses, and selecting other managers.
Source: Form ADV Part 1A, Item 5.G, from the SEC's 2 October 2026 data file
Which custodians does Shotwell Rutter Baer use?
Shotwell Rutter Baer’s separately managed account assets are held at Charles Schwab & Co., Inc. (Westlake, TX), with $179M. Only custodians holding at least a tenth of those assets are named.
Source: Form ADV Part 1A, Schedule D, Section 5.K.(3), filed 29 January 2026
How many financial advisors does Shotwell Rutter Baer have?
Shotwell Rutter Baer has 5 investment adviser representatives registered with state securities authorities, out of 7 employees, and 6 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 Shotwell Rutter Baer invest in?
At the end of its last fiscal year, Shotwell Rutter Baer’s separately managed accounts held 98% registered funds (mutual funds, ETFs, BDCs) and 2% cash and equivalents.
Source: Form ADV Part 1A, Items 5.K.(1) and 7.B, from the SEC's 2 October 2026 data file
Who owns Shotwell Rutter Baer?
Shotwell Rutter Baer’s direct owner is David Shotwell (75% or more).
Source: Form ADV Part 1A, Schedules A and B, filed 29 January 2026
How does Shotwell Rutter Baer get paid?
Shotwell Rutter Baer is paid through a percentage of assets under management, hourly charges, 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
How do I contact Shotwell Rutter Baer?
Shotwell Rutter Baer’s main office is at 6350 West Michigan Avenue, Suite 200, Lansing, MI 48917. Its phone number is 517-321-4832. Its website is srbadvisors.com.
