Up North Financial provides financial planning and portfolio management for individuals and small businesses. Financial planning was provided to 11–25 clients last fiscal year.
Up North Financial reports 337 clients. They include 280 individual clients and 57 high-net-worth individuals. Of its assets, 99.5% ($203M across 1,064 accounts) are managed with discretion; $1M across 1 account is not.
| Client type | Clients | Assets |
|---|---|---|
| Individuals (other than HNW) | 83% | 34% |
| High-net-worth individuals | 17% | 66% |
| Charitable organizations | Fewer than 5 | <1% |
| State or municipal government entities | Fewer than 5 | <1% |
Client shares use reported counts. Client types without a reported count are excluded from that total.
Client breakdown and activity details
| Client type | Clients | Regulatory AUM | AUM share | Avg. per client |
|---|---|---|---|---|
| Individuals (other than HNW) | 280 | $69.2M | 33.9% | $247K |
| High-net-worth individuals | 57 | $134M | 65.7% | $2.35M |
| Charitable organizations | Fewer than 5 | $625K | 0.3% | — |
| State or municipal government entities | Fewer than 5 | $62.5K | 0.0% | — |
| Total | 337 | $204M | 100% | — |
- Clients
- 280
- Regulatory AUM
- $69.2M
- AUM share
- 33.9%
- Avg. per client
- $247K
- Clients
- 57
- Regulatory AUM
- $134M
- AUM share
- 65.7%
- Avg. per client
- $2.35M
- Clients
- Fewer than 5
- Regulatory AUM
- $625K
- AUM share
- 0.3%
- Avg. per client
- —
- Clients
- Fewer than 5
- Regulatory AUM
- $62.5K
- AUM share
- 0.0%
- Avg. per client
- —
Total
- Clients
- 337
- Regulatory AUM
- $204M
- 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
- 11–25
Up North Financial charges 0.25%–2.00% a year for its Investment management fee. 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 and consulting
- Financial planning and consulting are fixed fees, negotiable, generally up to $5,000 depending on the level and scope of services.
Mark Herman owns 75% or more of Up North Financial. The leadership team of Up North Financial includes Chief Compliance Officer Mark Herman. It has 4 employees, 2 of them in advisory roles.
Staff
- 4 employees
- 2 in advisory functions
- 2 state-registered reps
- Owns 75% or more of Up North Financial, LLC
Mark Herman
Control person · since August 2009
Up North Financial’s regulatory assets grew 1.9× from $107M (March 2021) to $204M (March 2026); clients rose from 250 to 337 and employees from 2 to 4.
Figures from each annual filing
| Filed | Regulatory AUM | Clients | StaffEmployees | Offices |
|---|---|---|---|---|
| Mar 2026March 2026 | $204M | 337 | 4 | 1 |
| Mar 2025March 2025 | $186M | 334 | 4 | 1 |
| Mar 2024March 2024 | $165M | 350 | 2 | 1 |
| Mar 2023March 2023 | $129M | 323 | 2 | 1 |
| Mar 2022March 2022 | $134M | 270 | 2 | 1 |
| Mar 2021March 2021 | $107M | 250 | 2 | 1 |
Besides its headquarters, Up North Financial has 0 offices, with 1 listed address in 1 state.
Michigan · 1 listed address
- 223 East State Street, Suite 200, Traverse CityHQ
Contact and registration details
- Legal name
- Up North Financial, LLC
- Headquarters
- 223 East State Street, Suite 200, Traverse City, MI 49684
- Website
- Not reported
- Phone
- 231-929-9300
- @up-north-financial-llc
- SEC file
- 801-120926
- Structure
- Michigan LLC
- Fiscal year end
- December
Up North Financial’s named custodian for separately managed accounts is Fidelity ($186M). Up North Financial has custody of $30.4M for 131 clients.
- FidelityFidelity Brokerage Services LLC · Smithfield, RI · $186M100%
At year end, Up North Financial’s separately managed accounts were largely in funds (40%) and stocks (35%).
What the accounts hold
- Stocks35%
- Funds40%
- Bonds3%
- Cash20%
Filed values cover 98%. The neutral 2% gap has no reported category.
How many clients does Up North Financial have?
Up North Financial has 337 clients and manages $204 million for them, as of March 2026. They include 280 individual clients and 57 high-net-worth individuals.
Source: Form ADV Part 1A, Items 5.D and 5.F, filed 27 March 2026
What services does Up North Financial offer?
Up North 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 Up North Financial charge?
Up North Financial charges 0.25%–2.00% a year for its Investment management fee. The fee is billed in advance and is negotiable.
Source: UP NORTH FINANCIAL, LLC DISCLOSURE BROCHURE, filed 27 March 2026
Which custodians does Up North Financial use?
Up North Financial’s separately managed account assets are held at Fidelity Brokerage Services LLC (Smithfield, RI), with $186M. 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 Up North Financial have?
Up North Financial has 2 investment adviser representatives registered with state securities authorities, out of 4 employees, and 2 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 Up North Financial invest in?
At the end of its last fiscal year, Up North Financial’s separately managed accounts held 40% registered funds (mutual funds, ETFs, BDCs), 35% exchange-traded equities, 20% cash and equivalents and 3% 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 Up North Financial?
Up North Financial’s direct owner is Mark Herman (75% or more).
Source: Form ADV Part 1A, Schedules A and B, filed 27 March 2026
How does Up North Financial get paid?
Up North Financial 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 Up North Financial?
Up North Financial’s main office is at 223 East State Street, Suite 200, Traverse City, MI 49684. Its phone number is 231-929-9300.