The Advocate Group provides financial planning, portfolio management for individuals and small businesses, estate planning, insurance, philanthropic planning, retirement plan services, and tax planning. Financial planning was provided to 251–500 clients last fiscal year.
The Advocate Group reports 394 clients. They include 222 high-net-worth individuals, 124 individual clients and 48 charitable organizations. Of its assets, 99.8% ($808M across 1,062 accounts) are managed with discretion; $1.73M across 6 accounts are not. It advised 33 clients without assets under management last fiscal year.
| Client type | Clients | Assets |
|---|---|---|
| Individuals (other than HNW) | 31% | 3% |
| High-net-worth individuals | 56% | 93% |
| Charitable organizations | 12% | 3% |
Client breakdown and activity details
| Client type | Clients | Regulatory AUM | AUM share | Avg. per client |
|---|---|---|---|---|
| Individuals (other than HNW) | 124 | $27.1M | 3.3% | $218K |
| High-net-worth individuals | 222 | $755M | 93.2% | $3.4M |
| Charitable organizations | 48 | $27.9M | 3.4% | $581K |
| Total | 394 | $810M | 100% | $2.06M |
- Clients
- 124
- Regulatory AUM
- $27.1M
- AUM share
- 3.3%
- Avg. per client
- $218K
- Clients
- 222
- Regulatory AUM
- $755M
- AUM share
- 93.2%
- Avg. per client
- $3.4M
- Clients
- 48
- Regulatory AUM
- $27.9M
- AUM share
- 3.4%
- Avg. per client
- $581K
Total
- Clients
- 394
- Regulatory AUM
- $810M
- AUM share
- 100%
- Avg. per client
- $2.06M
- Clients outside the U.S.
- 0%
- Clients advised without assets under management last fiscal year
- 33
- Private funds advised
- 0
- Financial planning clients last fiscal year
- 251–500
The Advocate Group charges 0.35%–0.95% a year for its Investment management. The fee is billed in advance and is negotiable. The brochure also prices one other service, listed under fee details.
Fee details and sources
Other fees
- Financial planning
- Financial planning fees are negotiable; initial annual fees typically range from $2,500 to $20,000 and ongoing annual fees from $1,500 to $15,000.
Michael Corrigan owns 25% to 50% of The Advocate Group. The leadership team of The Advocate Group includes Chief Investment Officer Seth Heimermann and Chief Compliance Officer Michael Corrigan. It has 17 employees, 11 of them in advisory roles.
Leadership
- Michael CorriganCEO, Chief Compliance Officer, Member, Elected Manager
- Seth HeimermannChief Investment Officer, Member
- Elizabeth KindsethMember
- Emily MeisingerMember
- Sean OhaganSecretary, Member, Elected Manager
- Rebecca WachterCOO, Treasurer, Member, Elected Manager
Investment adviser representatives
9 representatives listed in the SEC register as of 9 October 2026.
Staff
- 17 employees
- 11 in advisory functions
- 11 state-registered reps
- 4 insurance agents
- Owns 25% to 50% of The Advocate Group, LLC
Michael Corrigan
Control person · since March 2016
- Owns 10% to 25% of The Advocate Group, LLC
Seth Heimermann
Control person · since October 2019
- Owns 10% to 25% of The Advocate Group, LLC
Sean Ohagan
Control person · since December 2017
- Owns 10% to 25% of The Advocate Group, LLC
Elizabeth Kindseth
since December 2019
- Owns 5% to 10% of The Advocate Group, LLC
Rebecca Wachter
Control person · since February 2017
- Owns 5% to 10% of The Advocate Group, LLC
Emily Meisinger
since December 2022
The Advocate Group’s regulatory assets grew 1.7× from $484M (March 2021) to $810M (September 2026); clients rose from 336 to 394 and employees from 13 to 17.
Figures from each annual filing
| Filed | Regulatory AUM | Clients | Employees | Offices |
|---|---|---|---|---|
| September 2026 | $810M | 394 | 17 | 1 |
| February 2025 | $713M | 385 | 17 | 1 |
| February 2024 | $636M | 365 | 17 | 1 |
| February 2023 | $591M | 354 | 15 | 1 |
| April 2022 | $588M | 343 | 13 | 1 |
| March 2021 | $484M | 336 | 13 | 1 |
Besides its headquarters, The Advocate Group has 0 offices, with 1 listed address in Minnesota.
Minnesota · 1 listed address
- 701 Carlson Parkway, Suite 520, MinnetonkaHQ
Contact and registration details
- Legal name
- The Advocate Group, LLC
- Headquarters
- 701 Carlson Parkway, Suite 520, Minnetonka, MN 55305
- Website
- theadvocategroup.com
- Phone
- 952-693-2630
- @the-advocate-group
- SEC file
- 801-72157
- Founded
- 2002
- Structure
- Minnesota LLC
- Fiscal year end
- December
The Advocate Group uses Charles Schwab ($736M) as custodian for its separately managed accounts. The Advocate Group has custody of $318M in client assets for 158 clients.
- Charles SchwabCharles Schwab & Co., Inc. · San Francisco, CA · $736M100%
At year end, The Advocate Group’s separately managed accounts were mostly in stocks (63%) and funds (22%). Its reported 13F holdings for the quarter ended 30 June 2026 total $665M across 122 positions; the largest are Vanguard Tax-managed Fds (5.7%), Vanguard Index Fds (4.3%) and Abbvie Inc. (2.8%).
What the accounts hold
- Stocks63%
- Funds22%
- Bonds5%
- U.S. government and agency bonds3%
- State and local bonds2%
- Cash10%
Reported 13F holdings
- $665M
- Reported 13F value
- 122
- Positions
- 28.2%
- In the 10 largest
- +4.0%
- Value vs. prior quarter
- Vanguard Tax-managed Fds · Van FTSE Dev Mkt5.7%
- Vanguard Index Fds · Large Cap ETF4.3%
- Abbvie Inc.2.8%
- General Mills Inc.2.8%
- Cisco Sys Inc.2.4%
- Johnson & Johnson2.3%
- Verizon Communications Inc.2.3%
- Vanguard Malvern Fds · Strm Infproidx2.0%
- Caterpillar Inc.1.9%
- Enbridge Inc.1.9%
Together, the ten largest are 28.2% of reported value.
How many clients does The Advocate Group have?
The Advocate Group has 394 clients and manages $810 million for them, as of September 2026. They include 222 high-net-worth individuals, 124 individual clients and 48 charitable organizations.
Source: Form ADV Part 1A, Items 5.D and 5.F, filed 19 September 2026
What services does The Advocate Group offer?
The Advocate Group provides financial planning, portfolio management for individuals and small businesses, estate planning, insurance, philanthropic planning, retirement plan services, and tax planning.
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 The Advocate Group charge?
The Advocate Group charges 0.35%–0.95% a year for its Investment management. The fee is billed in advance and is negotiable.
Which custodians does The Advocate Group use?
The Advocate Group’s separately managed account assets are held at Charles Schwab & Co., Inc. (San Francisco, CA), with $736M. Only custodians holding at least a tenth of those assets are named.
Source: Form ADV Part 1A, Schedule D, Section 5.K.(3), filed 19 September 2026
How many financial advisors does The Advocate Group have?
The Advocate Group has 11 investment adviser representatives registered with state securities authorities, out of 17 employees, and 11 perform investment advisory functions. 0 employees are registered representatives of a broker-dealer and 4 employees are 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 The Advocate Group invest in?
At the end of its last fiscal year, The Advocate Group’s separately managed accounts held 63% exchange-traded equities, 22% registered funds (mutual funds, ETFs, BDCs), 10% cash and equivalents, 3% U.S. government and agency bonds and 2% state and local bonds.
Source: Form ADV Part 1A, Items 5.K.(1) and 7.B, from the SEC's 2 October 2026 data file
Who owns The Advocate Group?
The Advocate Group’s direct owners are Seth Heimermann, Michael Corrigan, Sean Ohagan, Rebecca Wachter, Elizabeth Kindseth and Emily Meisinger, each holding 50% or less.
Source: Form ADV Part 1A, Schedules A and B, filed 19 September 2026
How does The Advocate Group get paid?
The Advocate Group is paid through a percentage of assets under management 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 The Advocate Group?
The Advocate Group’s main office is at 701 Carlson Parkway, Suite 520, Minnetonka, MN 55305. Its phone number is 952-693-2630. Its website is theadvocategroup.com.