Superior Financial provides financial planning and portfolio management for individuals and small businesses. Financial planning was provided to 51–100 clients last fiscal year.
Superior Financial reports 120 clients. They include 90 individual clients and 30 high-net-worth individuals. Of its assets, 100.0% ($112M across 385 accounts) are managed with discretion. It advised 16 clients without assets under management last fiscal year.
| Client type | Clients | Assets |
|---|---|---|
| Individuals (other than HNW) | 75% | 34% |
| High-net-worth individuals | 25% | 66% |
Client breakdown and activity details
| Client type | Clients | Regulatory AUM | AUM share | Avg. per client |
|---|---|---|---|---|
| Individuals (other than HNW) | 90 | $37.6M | 33.5% | $418K |
| High-net-worth individuals | 30 | $74.6M | 66.5% | $2.49M |
| Total | 120 | $112M | 100% | $935K |
- Clients
- 90
- Regulatory AUM
- $37.6M
- AUM share
- 33.5%
- Avg. per client
- $418K
- Clients
- 30
- Regulatory AUM
- $74.6M
- AUM share
- 66.5%
- Avg. per client
- $2.49M
Total
- Clients
- 120
- Regulatory AUM
- $112M
- AUM share
- 100%
- Avg. per client
- $935K
- Clients outside the U.S.
- 0%
- Clients advised without assets under management last fiscal year
- 16
- Private funds advised
- 0
- Financial planning clients last fiscal year
- 51–100
Superior Financial charges 0.45%–0.95% a year for its Wealth Management Service. Each asset band is charged at its own rate. The fee is billed in advance and is negotiable. The brochure also prices 2 other services, listed under fee details.
| Asset band | Annual rate |
|---|---|
| $0–$500K | 0.95% |
| $500K–$1M | 0.65% |
| $1M and above | 0.45% |
Fee details and sources
Other fees
- Financial Review
- Financial review is a one-time $2,500 fee; follow-up questions after the review carry an additional hourly fee.
- Neos Planning
- Neos planning is a $300 per month fee.
Peter Melsness owns 75% or more of Superior Financial. The leadership team of Superior Financial includes Chief Compliance Officer Peter Melsness. It has 1 employee.
Leadership
Peter MelsnessManaging Member & Chief Compliance Officer
Investment adviser representatives
1 representatives listed in the SEC register as of 9 October 2026.
Staff
- 1 employee
- 1 in advisory functions
- 1 state-registered rep
- Owns 75% or more of Superior Financial, LLC
Peter Melsness
Control person · since October 2008
Besides its headquarters, Superior Financial has 1 office (1 private residence, listed without an address), with 1 listed address in Minnesota.
Minnesota · 1 listed address
- 3265 19th Street NW, Suite 320, RochesterHQ
Contact and registration details
- Legal name
- Superior Financial, LLC
- Headquarters
- 3265 19th Street NW, Suite 320, Rochester, MN 55901
- Website
- superiorfinancialllc.com
- Phone
- 507-316-0160
- SEC file
- 801-136350
- Structure
- Minnesota LLC
- Fiscal year end
- December
Superior Financial uses Charles Schwab ($109M) as custodian for its separately managed accounts. Superior Financial does not have custody of client assets.
- Charles SchwabCharles Schwab & Co., Inc. · Westlake, TX · $109M100%
At year end, Superior Financial’s separately managed accounts were mostly in funds (87%) and stocks (10%).
What the accounts hold
- Stocks10%
- Exchange-traded equities9%
- Non-exchange-traded equities1%
- Funds87%
- Registered funds85%
- Pooled vehicles2%
- Bonds2%
- State and local bonds1%
- High-yield corporate bonds1%
- Cash1%
How many clients does Superior Financial have?
Superior Financial has 120 clients and manages $112 million for them, as of April 2026. They include 90 individual clients and 30 high-net-worth individuals.
Source: Form ADV Part 1A, Items 5.D and 5.F, filed 24 April 2026
What services does Superior Financial offer?
Superior Financial provides financial planning and portfolio management for individuals and small businesses.
Source: Form ADV Part 1A, Item 5.G, from the SEC's 2 October 2026 data file
How much does Superior Financial charge?
Superior Financial charges 0.45%–0.95% a year for its Wealth Management Service. Each asset band is charged at its own rate. The fee is billed in advance and is negotiable.
Source: SUPERIOR FINANCIAL ADV PART 2A FOR SEC REGISTRATION V.04.24.26, filed 24 April 2026
Which custodians does Superior Financial use?
Superior Financial’s separately managed account assets are held at Charles Schwab & Co., Inc. (Westlake, TX), with $109M. Only custodians holding at least a tenth of those assets are named.
Source: Form ADV Part 1A, Schedule D, Section 5.K.(3), filed 24 April 2026
How many financial advisors does Superior Financial have?
Superior Financial has 1 investment adviser representative registered with state securities authorities, out of 1 employees, and 1 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 Superior Financial invest in?
At the end of its last fiscal year, Superior Financial’s separately managed accounts held 85% registered funds (mutual funds, ETFs, BDCs), 9% exchange-traded equities, 2% pooled vehicles (private funds and similar), 1% non-exchange-traded equities, 1% state and local bonds, 1% high-yield corporate bonds and 1% 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 Superior Financial?
Superior Financial’s direct owner is Peter Melsness (75% or more).
Source: Form ADV Part 1A, Schedules A and B, filed 24 April 2026
How does Superior Financial get paid?
Superior Financial 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 Superior Financial?
Superior Financial’s main office is at 3265 19th Street NW, Suite 320, Rochester, MN 55901. Its phone number is 507-316-0160. Its website is superiorfinancialllc.com.