Truman Wealth Advisors provides financial planning and portfolio management for individuals and small businesses.
Truman Wealth Advisors reports 98 clients. They include 74 individual clients, 22 high-net-worth individuals and 1 charitable organization. Of its assets, 97.5% ($103M across 420 accounts) are managed with discretion; $2.62M across 4 accounts are not.
| Client type | Clients | Assets |
|---|---|---|
| Individuals (other than HNW) | 76% | 51% |
| High-net-worth individuals | 22% | 36% |
| Pension and profit-sharing plans | 0% | 2% |
| Charitable organizations | 1% | 10% |
| 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) | 74 | $54.5M | 51.4% | $736K |
| High-net-worth individuals | 22 | $38.1M | 36.0% | $1.73M |
| Pension and profit-sharing plans | Fewer than 5 | $2.62M | 2.5% | — |
| Charitable organizations | Fewer than 5 | $10.7M | 10.1% | $10.7M |
| Corporations and other businesses | Fewer than 5 | $36.6K | 0.0% | $36.6K |
| Total | 98 | $106M | 100% | — |
- Clients
- 74
- Regulatory AUM
- $54.5M
- AUM share
- 51.4%
- Avg. per client
- $736K
- Clients
- 22
- Regulatory AUM
- $38.1M
- AUM share
- 36.0%
- Avg. per client
- $1.73M
- Clients
- Fewer than 5
- Regulatory AUM
- $2.62M
- AUM share
- 2.5%
- Avg. per client
- —
- Clients
- Fewer than 5
- Regulatory AUM
- $10.7M
- AUM share
- 10.1%
- Avg. per client
- $10.7M
- Clients
- Fewer than 5
- Regulatory AUM
- $36.6K
- AUM share
- 0.0%
- Avg. per client
- $36.6K
Total
- Clients
- 98
- Regulatory AUM
- $106M
- AUM share
- 100%
- Avg. per client
- —
- 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
Truman Wealth Advisors charges up to 2.00% a year for its Investment Management Fee. The fee is negotiable. The brochure also prices one other service, listed under fee details.
Fee details and sources
Other fees
- Consulting Services
- Consulting is a fixed fee: the initial consultation starts at $1,500 and ongoing consulting at $7,500 a year, negotiable by client type and scope.
Melinda McCubbin owns 75% or more of Truman Wealth Advisors. The leadership team of Truman Wealth Advisors includes President Melinda McCubbin and Chief Compliance Officer Ellen Osthus. It has 3 employees.
Leadership
Melinda McCubbinPresident- Ellen OsthusChief Compliance Officer
Investment adviser representatives
3 representatives listed in the SEC register as of 9 October 2026.
Staff
- 3 employees
- 3 in advisory functions
- 3 state-registered reps
- Owns 75% or more of Truman Wealth Advisors LLC
Melinda McCubbin
Control person · since January 2018
Truman Wealth Advisors’ regulatory assets fell from $142M (April 2025) to $106M (March 2026); clients rose from 87 to 98 and employees were 3 in both filings.
Figures from each annual filing
| Filed | Regulatory AUM | Clients | Employees | Offices |
|---|---|---|---|---|
| March 2026 | $106M | 98 | 3 | 3 |
| April 2025 | $142M | 87 | 3 | 3 |
Besides its headquarters, Truman Wealth Advisors has 2 offices, with 3 listed addresses in Minnesota, Missouri and Tennessee.
Minnesota · 1 listed address
- 165 Western Ave., St. Paul
Missouri · 1 listed address
- 411 N. College Avenue, Suite 201, ColumbiaHQ
Tennessee · 1 listed address
- 3820 Charlotte Avenue, Nashville
Contact and registration details
- Legal name
- Truman Wealth Advisors LLC
- Headquarters
- 411 N. College Avenue, Suite 201, Columbia, MO 65201
- Website
- trumanwealthadvisors.com
- Phone
- 573-540-4788
- @truman-wealth-advisors
- SEC file
- 801-132042
- Structure
- Missouri LLC
- Fiscal year end
- December
Truman Wealth Advisors uses Charles Schwab ($80.3M, 88%) and Vanguard Marketing ($10.7M, 12%) as custodians for its separately managed accounts. Truman Wealth Advisors has custody of $12.8M in client assets for 48 clients.
- Charles SchwabCharles Schwab & Co., Inc. · Westlake, TX · $80.3M88%
- Vanguard MarketingVanguard Marketing Corporation · Malvern, PA · $10.7M12%
At year end, Truman Wealth Advisors’ separately managed accounts were mostly in funds (91%).
What the accounts hold
- Stocks5%
- Funds91%
- Cash4%
How many clients does Truman Wealth Advisors have?
Truman Wealth Advisors has 98 clients and manages $106 million for them, as of March 2026. They include 74 individual clients, 22 high-net-worth individuals and 1 charitable organization.
Source: Form ADV Part 1A, Items 5.D and 5.F, filed 27 March 2026
What services does Truman Wealth Advisors offer?
Truman Wealth Advisors 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 Truman Wealth Advisors charge?
Truman Wealth Advisors charges up to 2.00% a year for its Investment Management Fee. The fee is negotiable.
Source: ADV PART 2A, filed 27 March 2026
Which custodians does Truman Wealth Advisors use?
Truman Wealth Advisors’ separately managed account assets are held at Charles Schwab & Co., Inc. (Westlake, TX), with $80.3M and Vanguard Marketing Corporation (Malvern, PA), with $10.7M. Only custodians holding at least a tenth of those assets are named.
Source: Form ADV Part 1A, Schedule D, Section 5.K.(3), filed 27 March 2026
How many financial advisors does Truman Wealth Advisors have?
Truman Wealth Advisors 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 Truman Wealth Advisors invest in?
At the end of its last fiscal year, Truman Wealth Advisors’ separately managed accounts held 91% registered funds (mutual funds, ETFs, BDCs), 5% exchange-traded equities and 4% 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 Truman Wealth Advisors?
Truman Wealth Advisors’ direct owner is Melinda McCubbin (75% or more).
Source: Form ADV Part 1A, Schedules A and B, filed 27 March 2026
How does Truman Wealth Advisors get paid?
Truman Wealth Advisors 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 Truman Wealth Advisors?
Truman Wealth Advisors’ main office is at 411 N. College Avenue, Suite 201, Columbia, MO 65201. Its phone number is 573-540-4788. Its website is trumanwealthadvisors.com.