Theory Financial provides financial planning, portfolio management for individuals and small businesses, education planning, estate planning, insurance, philanthropic planning, and tax planning.
Theory Financial reports 252 clients. They include 146 individual clients and 106 high-net-worth individuals. Of its assets, 98.8% ($315M across 674 accounts) are managed with discretion; $3.87M across 2 accounts are not.
| Client type | Clients | Assets |
|---|---|---|
| Individuals (other than HNW) | 58% | 20% |
| High-net-worth individuals | 42% | 80% |
Client breakdown and activity details
| Client type | Clients | Regulatory AUM | AUM share | Avg. per client |
|---|---|---|---|---|
| Individuals (other than HNW) | 146 | $63.8M | 20.0% | $437K |
| High-net-worth individuals | 106 | $255M | 80.0% | $2.41M |
| Total | 252 | $319M | 100% | $1.27M |
- Clients
- 146
- Regulatory AUM
- $63.8M
- AUM share
- 20.0%
- Avg. per client
- $437K
- Clients
- 106
- Regulatory AUM
- $255M
- AUM share
- 80.0%
- Avg. per client
- $2.41M
Total
- Clients
- 252
- Regulatory AUM
- $319M
- AUM share
- 100%
- Avg. per client
- $1.27M
- 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
- 0
Theory Financial charges 0.50%–0.99% a year for its Investment Management. Each asset band is charged at its own rate. The fee is billed in advance and is negotiable. The brochure also prices one other service, listed under fee details.
| Asset band | Annual rate |
|---|---|
| $0–$250K | 0.99% |
| $250K–$750K | 0.85% |
| $750K–$1.5M | 0.75% |
| $1.5M–$3M | 0.65% |
| $3M–$5M | 0.55% |
| $5M and above | 0.50% |
Fee details and sources
Other fees
- Stand-alone Financial Planning
- Stand-alone financial planning and consulting, when not paired with investment management, is billed hourly at $200 and is negotiable; an initial plan typically takes 5 to 10 hours.
Ryan Stout owns 75% or more of Theory Financial. The leadership team of Theory Financial includes Chief Operating Officer Charles Nedele. It has 3 employees.
Staff
- 3 employees
- 3 in advisory functions
- 3 state-registered reps
- Owns 75% or more of Theory Financial LLC
Ryan Stout
Control person · since April 2019
Theory Financial’s regulatory assets grew 1.8× from $182M (March 2022) to $319M (March 2026); clients rose from 163 to 252 and employees fell from 4 to 3.
Figures from each annual filing
| Filed | Regulatory AUM | Clients | StaffEmployees | Offices |
|---|---|---|---|---|
| Mar 2026March 2026 | $319M | 252 | 3 | 2 |
| Mar 2025March 2025 | $283M | 236 | 3 | 2 |
| Feb 2024February 2024 | $212M | 207 | 3 | 2 |
| Mar 2023March 2023 | $177M | 187 | 3 | 2 |
| Mar 2022March 2022 | $182M | 163 | 4 | 3 |
Besides its headquarters, Theory Financial has 1 office, with 2 listed addresses in 1 state.
Colorado · 2 listed addresses
- 2580 Harmony Road, Suite 201, Fort CollinsHQ
- 355 S Teller St, Suite 200, Lakewood
Contact and registration details
- Legal name
- Theory Financial LLC
- Headquarters
- 2580 Harmony Road, Suite 201, Fort Collins, CO 80528
- Website
- theoryfinance.com
- Phone
- 970-305-4649
- @theory-financial
- SEC file
- 801-122366
- Founded
- 2019
- Structure
- Colorado LLC
- Fiscal year end
- December
Theory Financial’s named custodian for separately managed accounts is Charles Schwab ($313M). Theory Financial does not have custody of client assets.
- Charles SchwabCharles Schwab & Co., Inc. · San Francisco, CA · $313M100%
At year end, Theory Financial’s separately managed accounts were mostly in funds (93%). Its reported 13F holdings for the quarter ended 30 June 2026 total $317M across 99 positions; the largest are Schwab Strategic TR (7.2%), Select Sector SPDR TR (6.7%) and SPDR Series Trust (3.9%).
What the accounts hold
- Stocks3%
- Funds93%
- Cash2%
- Other2%
- Variable annuity2%
How many clients does Theory Financial have?
Theory Financial has 252 clients and manages $319 million for them, as of March 2026. They include 146 individual clients and 106 high-net-worth individuals.
Source: Form ADV Part 1A, Items 5.D and 5.F, filed 4 March 2026
What services does Theory Financial offer?
Theory Financial provides financial planning, portfolio management for individuals and small businesses, education planning, estate planning, insurance, philanthropic planning, 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 Theory Financial charge?
Theory Financial charges 0.50%–0.99% a year for its Investment Management. Each asset band is charged at its own rate. The fee is billed in advance and is negotiable.
Which custodians does Theory Financial use?
Theory Financial’s separately managed account assets are held at Charles Schwab & Co., Inc. (San Francisco, CA), with $313M. Only custodians holding at least a tenth of those assets are named.
Source: Form ADV Part 1A, Schedule D, Section 5.K.(3), filed 4 March 2026
How many financial advisors does Theory Financial have?
Theory Financial has 3 investment adviser representatives registered with state securities authorities, out of 3 employees, and 3 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 Theory Financial invest in?
At the end of its last fiscal year, Theory Financial’s separately managed accounts held 93% registered funds (mutual funds, ETFs, BDCs), 3% exchange-traded equities, 2% cash and equivalents and 2% other. The 2% other category is described as: Variable Annuity.
Source: Form ADV Part 1A, Items 5.K.(1) and 7.B, from the SEC's 2 October 2026 data file
Who owns Theory Financial?
Theory Financial’s direct owner is Ryan Stout (75% or more).
Source: Form ADV Part 1A, Schedules A and B, filed 4 March 2026
How does Theory Financial get paid?
Theory Financial is paid through a percentage of assets under management. 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 Theory Financial?
Theory Financial’s main office is at 2580 Harmony Road, Suite 201, Fort Collins, CO 80528. Its phone number is 970-305-4649. Its website is theoryfinance.com.