SilverOak Wealth Management provides financial planning, portfolio management for individuals and small businesses, pension consulting, selecting other managers, estate planning, insurance, tax planning, and tax preparation. Financial planning was provided to 251–500 clients last fiscal year.
SilverOak Wealth Management reports 446 clients. They include 328 high-net-worth individuals, 116 individual clients, and 2 corporations and other businesses. Of its assets, 93.5% ($1.87B across 1,924 accounts) are managed with discretion; $129M across 68 accounts are not. Of its clients, 1% are outside the U.S. It advised 12 clients without assets under management last fiscal year.
| Client type | Clients | Assets |
|---|---|---|
| Individuals (other than HNW) | 26% | 3% |
| High-net-worth individuals | 74% | 97% |
| 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) | 116 | $64.9M | 3.2% | $559K |
| High-net-worth individuals | 328 | $1.93B | 96.5% | $5.88M |
| Corporations and other businesses | 2 | $4.13M | 0.2% | $2.07M |
| Total | 446 | $2B | 100% | $4.48M |
- Clients
- 116
- Regulatory AUM
- $64.9M
- AUM share
- 3.2%
- Avg. per client
- $559K
- Clients
- 328
- Regulatory AUM
- $1.93B
- AUM share
- 96.5%
- Avg. per client
- $5.88M
- Clients
- 2
- Regulatory AUM
- $4.13M
- AUM share
- 0.2%
- Avg. per client
- $2.07M
Total
- Clients
- 446
- Regulatory AUM
- $2B
- AUM share
- 100%
- Avg. per client
- $4.48M
- Clients outside the U.S.
- 1%
- Clients advised without assets under management last fiscal year
- 12
- Private funds advised
- 0
- Financial planning clients last fiscal year
- 251–500
SilverOak Wealth Management charges up to 1.25% a year for its Portfolio Management Services. The fee is billed in advance, is negotiable and requires an account of at least $250,000. The brochure also prices 4 other services, listed under fee details.
Fee details and sources
Other fees
- Financial planning
- Fixed fee typically from $1,500 to $20,000, or hourly from $50 to $350, depending on complexity; up to 50% may be due on signing.
- Money manager search and monitoring
- Annual fee on monitored assets on the same schedule as portfolio management, from 1.00% down to 0.20% to 0.35%, with a combined cap of 3.00% including any independent adviser's fee.
- Pension consulting
- Fixed fee typically from $3,000 to $25,000, or hourly from $50 to $350, depending on complexity; up to 50% may be due on signing.
- Tax qualified employee benefit services
- Annual fee charged by the service provider on supervised assets, typically 0.20% to 0.60%; SilverOak may receive up to 100% of it.
Shannon King owns 75% or more of SilverOak Wealth Management. The leadership team of SilverOak Wealth Management includes President Shannon King. It has 23 employees, 8 of them in advisory roles.
Staff
- 23 employees
- 8 in advisory functions
- 7 state-registered reps
- Owns 75% or more of Silveroak Wealth Management LLC
Shannon King
Control person · since March 2004
- Owns 5% to 10% of Silveroak Wealth Management LLC
Kathleen Nelson
Control person · since January 2020
SilverOak Wealth Management’s regulatory assets grew 1.9× from $1.08B (March 2021) to $2B (March 2026); clients rose from 328 to 446 and employees from 18 to 23.
Figures from each annual filing
| Filed | Regulatory AUM | Clients | StaffEmployees | Offices |
|---|---|---|---|---|
| Mar 2026March 2026 | $2B | 446 | 23 | 1 |
| Mar 2025March 2025 | $1.72B | 447 | 23 | 1 |
| Mar 2024March 2024 | $1.52B | 401 | 20 | 1 |
| Mar 2023March 2023 | $1.35B | 377 | 19 | 1 |
| Mar 2022March 2022 | $1.32B | 358 | 17 | 1 |
| Mar 2021March 2021 | $1.08B | 328 | 18 | 1 |
Besides its headquarters, SilverOak Wealth Management has 0 offices, with 1 listed address in 1 state.
Minnesota · 1 listed address
- 3600 Minnesota Drive, Suite 860, EdinaHQ
Contact and registration details
- Legal name
- Silveroak Wealth Management LLC
- Headquarters
- 3600 Minnesota Drive, Suite 860, Edina, MN 55435
- Website
- silveroakwealth.com
- Phone
- 952-896-5700
- SEC file
- 801-60208
- Founded
- 1999
- Structure
- Minnesota LLC
- Fiscal year end
- December
SilverOak Wealth Management’s named custodian for separately managed accounts is Charles Schwab ($2B). SilverOak Wealth Management has custody of $831M for 270 clients.
- Charles SchwabCharles Schwab & Co., Inc. · San Francisco, CA · $2B100%
At year end, SilverOak Wealth Management’s separately managed accounts were mostly in funds (50%) and stocks (36%). Its reported 13F holdings for the quarter ended 30 June 2026 total $777M across 126 positions; the largest are Vanguard Index Fds (14.0%), Vanguard Index Fds (10.9%) and SPDR Series Trust (10.5%).
What the accounts hold
- Stocks36%
- Funds50%
- Bonds4%
- State and local bonds3%
- U.S. government and agency bonds1%
- Cash10%
How many clients does SilverOak Wealth Management have?
SilverOak Wealth Management has 446 clients and manages $2 billion for them, as of March 2026. They include 328 high-net-worth individuals, 116 individual clients, and 2 corporations and other businesses.
Source: Form ADV Part 1A, Items 5.D and 5.F, filed 31 March 2026
What services does SilverOak Wealth Management offer?
SilverOak Wealth Management provides financial planning, portfolio management for individuals and small businesses, pension consulting, selecting other managers, estate planning, insurance, tax planning, and tax preparation.
Source: Form ADV Part 1A, Item 5.G, from the SEC's 2 October 2026 data file; Part 2A brochure, Item 4
How much does SilverOak Wealth Management charge?
SilverOak Wealth Management charges up to 1.25% a year for its Portfolio Management Services. The fee is billed in advance, is negotiable and requires an account of at least $250,000.
Which custodians does SilverOak Wealth Management use?
SilverOak Wealth Management’s separately managed account assets are held at Charles Schwab & Co., Inc. (San Francisco, CA), with $2B. Only custodians holding at least a tenth of those assets are named.
Source: Form ADV Part 1A, Schedule D, Section 5.K.(3), filed 31 March 2026
How many financial advisors does SilverOak Wealth Management have?
SilverOak Wealth Management has 7 investment adviser representatives registered with state securities authorities, out of 23 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 SilverOak Wealth Management invest in?
At the end of its last fiscal year, SilverOak Wealth Management’s separately managed accounts held 50% registered funds (mutual funds, ETFs, BDCs), 36% exchange-traded equities, 10% cash and equivalents, 3% 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
Does SilverOak Wealth Management have a minimum investment?
Yes, SilverOak Wealth Management’s minimum account size for its Portfolio Management Services is $250K.
Who owns SilverOak Wealth Management?
SilverOak Wealth Management’s direct owners are Shannon King (75% or more) and Kathleen Nelson (5% to 10%).
Source: Form ADV Part 1A, Schedules A and B, filed 31 March 2026
How does SilverOak Wealth Management get paid?
SilverOak Wealth Management 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 SilverOak Wealth Management?
SilverOak Wealth Management’s main office is at 3600 Minnesota Drive, Suite 860, Edina, MN 55435. Its phone number is 952-896-5700. Its website is silveroakwealth.com.