{
  "path": "/advisors/wi/madison/fee-only",
  "url": "https://advisorcensus.com/advisors/wi/madison/fee-only",
  "page_type": "metro_fee",
  "title": "Fee-only financial advisors in Madison, WI",
  "filters": {},
  "scope_total": 22,
  "faq": [
    {
      "q": "How many financial advisory firms are there in Madison, WI?",
      "a": "AdvisorCensus lists 77 investment advisory firms with a principal office in the Madison metro area, from Form ADV filings as of October 2026: 39 SEC-registered, 25 state-registered, and 13 exempt reporting advisers. Firms may request removal, so the count can differ slightly from the number of firms that file Form ADV."
    },
    {
      "q": "How many fee-only financial advisors are in Madison, WI?",
      "a": "22 of the 77 firms meet AdvisorCensus's fee-only test: paid only by a percentage of assets, hourly charges, fixed fees, or subscription fees on Form ADV Item 5.E (no commissions, performance-based fees, or other compensation), with no sales-related compensation ties in the same filing: no employee registered with a broker-dealer or licensed as an insurance agent (Item 5.B), no brokerage, insurance, real estate, or other product sales business (Item 6.A), no related broker-dealer, insurance company, real estate broker, or futures commission merchant (Item 7.A), and no referral fees from others or other sales interest (Item 8). Form ADV has no fee-only box, so this is derived from the filing; it is not a fee-only certification, and a firm's own page lists its compensation arrangements as filed."
    },
    {
      "q": "How many financial advisors in Madison, WI offer financial planning?",
      "a": "52 of the 64 firms in Madison, WI that answer Form ADV Item 5.G, which asks what advisory services a firm provides, report financial planning services, as of October 2026. Exempt reporting advisers do not answer Item 5.G. Each firm page lists every advisory service the firm reports."
    },
    {
      "q": "Are the financial advisors in Madison, WI fiduciaries?",
      "a": "Every firm on this page is an investment adviser that files Form ADV, and an investment adviser owes its clients a fiduciary duty under federal law, made up of a duty of care and a duty of loyalty: it must act in the client's best interest and not put its own interests ahead of the client's, and must eliminate its conflicts of interest or disclose them fully and fairly. Form ADV has no fiduciary box because the duty comes with being an investment adviser. The duty covers the firm's advice; a firm or its people may also sell securities through a broker-dealer or insurance as licensed agents, roles held to other standards. The 22 firms that meet AdvisorCensus's fee-only test report none of those sales ties."
    },
    {
      "q": "How do I check whether a financial advisor has disciplinary disclosures?",
      "a": "Each firm page shows how many Form ADV Item 11 disciplinary questions the firm answered yes and links to the firm's record on the SEC's Investment Adviser Public Disclosure site (adviserinfo.sec.gov), where the detail of each disclosure is public. Individual advisers' records are on the same site and on FINRA BrokerCheck."
    },
    {
      "q": "Does AdvisorCensus rate, verify, or recommend these firms?",
      "a": "No. The directory shows what each firm filed, in alphabetical order unless you choose another sort, and no firm's position depends on payment. Firms that claim their page can add a description and links, marked as provided by the firm; the filed facts are never changed by that content."
    },
    {
      "q": "What does regulatory assets under management mean?",
      "a": "Regulatory assets under management (RAUM) is the figure a firm reports on Form ADV Item 5.F: the securities portfolios it provides continuous and regular supervisory or management services for, at market value, including assets managed without discretion. It measures scale, not performance or quality."
    }
  ],
  "period": "2026-10-01",
  "answer_paragraph": "AdvisorCensus lists 22 investment advisory firms with a principal office in the Madison metro area that meet AdvisorCensus's fee-only test: paid only by client fees on Form ADV Item 5.E, with no employee registered with a broker-dealer or licensed as an insurance agent, no brokerage, insurance, or real estate sales business or related company, and no referral fees from others, drawn from Form ADV filings as of October 2026. Firms are listed alphabetically; sort by years registered or assets band using the controls below, and read the methodology block for how this page is derived.",
  "about_market": "Madison has 77 investment advisory firms with a principal office in the metro area as of October 2026: 39 SEC-registered, 25 state-registered, and 13 exempt reporting advisers. 22 of them meet AdvisorCensus's fee-only test (paid only by client fees, with no sales-related compensation ties such as an employee registered with a broker-dealer or licensed as an insurance agent), and 21 report under $100 million in regulatory assets under management. The metro area has 301,580 households, 40,613 of them with income of $200,000 or more, or 527 such households for each firm (Census Bureau, American Community Survey 2020–2024 5-year estimates).",
  "citation": "AdvisorCensus. Fee-only financial advisors in Madison, WI: 22 firms from Form ADV filings as of October 2026.",
  "total_firms": 22,
  "page": 1,
  "total_pages": 1,
  "sort": "name",
  "registration_types": {
    "sec": 17,
    "state": 5,
    "exempt": 0
  },
  "fee_model_mix": [
    {
      "code": "fee-only",
      "count": 22
    },
    {
      "code": "percentage_of_aum",
      "count": 22
    },
    {
      "code": "hourly",
      "count": 8
    },
    {
      "code": "subscription",
      "count": 0
    },
    {
      "code": "fixed",
      "count": 13
    },
    {
      "code": "commissions",
      "count": 0
    },
    {
      "code": "performance_based",
      "count": 0
    },
    {
      "code": "other",
      "count": 0
    },
    {
      "code": "not_reported",
      "count": 0
    }
  ],
  "years_registered_distribution": [
    {
      "code": "under_5",
      "count": 9
    },
    {
      "code": "5_to_9",
      "count": 3
    },
    {
      "code": "10_to_19",
      "count": 5
    },
    {
      "code": "20_plus",
      "count": 5
    },
    {
      "code": "not_reported",
      "count": 0
    }
  ],
  "raum_band_distribution": [
    {
      "code": "under_25m",
      "count": 2
    },
    {
      "code": "25m_100m",
      "count": 3
    },
    {
      "code": "100m_500m",
      "count": 11
    },
    {
      "code": "500m_1b",
      "count": 2
    },
    {
      "code": "1b_5b",
      "count": 4
    },
    {
      "code": "over_5b",
      "count": 0
    },
    {
      "code": "not_reported",
      "count": 0
    }
  ],
  "firms": [
    {
      "crd_number": 104579,
      "name": "American Investment Advisors Inc",
      "name_as_filed": "AMERICAN INVESTMENT ADVISORS INC",
      "url": "https://advisorcensus.com/firm/american-investment-advisors-inc-madison-wi-104579",
      "city": "Madison",
      "state": "WI",
      "years_registered": 2,
      "raum_band": "100m_500m",
      "compensation_types": [
        "percentage_of_aum"
      ],
      "enhanced": false
    },
    {
      "crd_number": 284036,
      "name": "Atlatl Advisers",
      "name_as_filed": "ATLATL ADVISERS",
      "url": "https://advisorcensus.com/firm/atlatl-advisers-madison-wi-284036",
      "city": "Madison",
      "state": "WI",
      "years_registered": 2,
      "raum_band": "100m_500m",
      "compensation_types": [
        "percentage_of_aum",
        "hourly",
        "fixed"
      ],
      "enhanced": false
    },
    {
      "crd_number": 318985,
      "name": "Calculated Wealth",
      "name_as_filed": "CALCULATED WEALTH",
      "url": "https://advisorcensus.com/firm/calculated-wealth-madison-wi-318985",
      "city": "Madison",
      "state": "WI",
      "years_registered": 1,
      "raum_band": "100m_500m",
      "compensation_types": [
        "percentage_of_aum",
        "hourly",
        "fixed"
      ],
      "enhanced": false
    },
    {
      "crd_number": 297717,
      "name": "Canopy Wealth Management",
      "name_as_filed": "CANOPY WEALTH MANAGEMENT",
      "url": "https://advisorcensus.com/firm/canopy-wealth-management-middleton-wi-297717",
      "city": "Middleton",
      "state": "WI",
      "years_registered": 8,
      "raum_band": "1b_5b",
      "compensation_types": [
        "percentage_of_aum",
        "hourly"
      ],
      "enhanced": false
    },
    {
      "crd_number": 301432,
      "name": "Ecio, Inc.",
      "name_as_filed": "ECIO, INC.",
      "url": "https://advisorcensus.com/firm/ecio-inc-madison-wi-301432",
      "city": "Madison",
      "state": "WI",
      "years_registered": 2,
      "raum_band": "100m_500m",
      "compensation_types": [
        "percentage_of_aum",
        "fixed"
      ],
      "enhanced": false
    },
    {
      "crd_number": 106143,
      "name": "Forward Investment Advisors, Inc.",
      "name_as_filed": "FORWARD INVESTMENT ADVISORS, INC.",
      "url": "https://advisorcensus.com/firm/forward-investment-advisors-inc-madison-wi-106143",
      "city": "Madison",
      "state": "WI",
      "years_registered": 23,
      "raum_band": "25m_100m",
      "compensation_types": [
        "percentage_of_aum",
        "hourly"
      ],
      "enhanced": false
    },
    {
      "crd_number": 171279,
      "name": "Isthmus Partners, LLC",
      "name_as_filed": "ISTHMUS PARTNERS, LLC",
      "url": "https://advisorcensus.com/firm/isthmus-partners-llc-madison-wi-171279",
      "city": "Madison",
      "state": "WI",
      "years_registered": 12,
      "raum_band": "1b_5b",
      "compensation_types": [
        "percentage_of_aum",
        "hourly",
        "fixed"
      ],
      "enhanced": false
    },
    {
      "crd_number": 140431,
      "name": "Jacobson & Schmitt Advisors, LLC",
      "name_as_filed": "JACOBSON & SCHMITT ADVISORS, LLC",
      "url": "https://advisorcensus.com/firm/jacobson-and-schmitt-advisors-llc-middleton-wi-140431",
      "city": "Middleton",
      "state": "WI",
      "years_registered": 20,
      "raum_band": "500m_1b",
      "compensation_types": [
        "percentage_of_aum",
        "fixed"
      ],
      "enhanced": false
    },
    {
      "crd_number": 150824,
      "name": "John F Suby Wealth Management LLC",
      "name_as_filed": "JOHN F SUBY WEALTH MANAGEMENT LLC",
      "url": "https://advisorcensus.com/firm/john-f-suby-wealth-management-llc-madison-wi-150824",
      "city": "Madison",
      "state": "WI",
      "years_registered": 17,
      "raum_band": "100m_500m",
      "compensation_types": [
        "percentage_of_aum",
        "hourly",
        "fixed"
      ],
      "enhanced": false
    },
    {
      "crd_number": 327390,
      "name": "Lindenwood Financial LLC",
      "name_as_filed": "LINDENWOOD FINANCIAL LLC",
      "url": "https://advisorcensus.com/firm/lindenwood-financial-llc-madison-wi-327390",
      "city": "Madison",
      "state": "WI",
      "years_registered": 3,
      "raum_band": "under_25m",
      "compensation_types": [
        "percentage_of_aum",
        "fixed"
      ],
      "enhanced": false
    },
    {
      "crd_number": 341390,
      "name": "Mapt Capital",
      "name_as_filed": "MAPT CAPITAL",
      "url": "https://advisorcensus.com/firm/mapt-capital-madison-wi-341390",
      "city": "Madison",
      "state": "WI",
      "years_registered": 0,
      "raum_band": "under_25m",
      "compensation_types": [
        "percentage_of_aum",
        "fixed"
      ],
      "enhanced": false
    },
    {
      "crd_number": 136294,
      "name": "Mendota Financial Group, LLC",
      "name_as_filed": "MENDOTA FINANCIAL GROUP, LLC",
      "url": "https://advisorcensus.com/firm/mendota-financial-group-llc-madison-wi-136294",
      "city": "Madison",
      "state": "WI",
      "years_registered": 19,
      "raum_band": "100m_500m",
      "compensation_types": [
        "percentage_of_aum",
        "fixed"
      ],
      "enhanced": false
    },
    {
      "crd_number": 168429,
      "name": "Milestone Investment Advisors, LLC",
      "name_as_filed": "MILESTONE INVESTMENT ADVISORS, LLC",
      "url": "https://advisorcensus.com/firm/milestone-investment-advisors-llc-middleton-wi-168429",
      "city": "Middleton",
      "state": "WI",
      "years_registered": 13,
      "raum_band": "500m_1b",
      "compensation_types": [
        "percentage_of_aum",
        "hourly"
      ],
      "enhanced": false
    },
    {
      "crd_number": 125179,
      "name": "Neuenschwander Asset Management, LLC",
      "name_as_filed": "NEUENSCHWANDER ASSET MANAGEMENT, LLC",
      "url": "https://advisorcensus.com/firm/neuenschwander-asset-management-llc-mcfarland-wi-125179",
      "city": "McFarland",
      "state": "WI",
      "years_registered": 4,
      "raum_band": "100m_500m",
      "compensation_types": [
        "percentage_of_aum",
        "fixed"
      ],
      "enhanced": false
    },
    {
      "crd_number": 281702,
      "name": "Prism Wealth Management",
      "name_as_filed": "PRISM WEALTH MANAGEMENT",
      "url": "https://advisorcensus.com/firm/prism-wealth-management-middleton-wi-281702",
      "city": "Middleton",
      "state": "WI",
      "years_registered": 10,
      "raum_band": "25m_100m",
      "compensation_types": [
        "percentage_of_aum"
      ],
      "enhanced": false
    },
    {
      "crd_number": 113117,
      "name": "REX Leigh Jones",
      "name_as_filed": "REX LEIGH JONES",
      "url": "https://advisorcensus.com/firm/rex-leigh-jones-madison-wi-113117",
      "city": "Madison",
      "state": "WI",
      "years_registered": 30,
      "raum_band": "25m_100m",
      "compensation_types": [
        "percentage_of_aum"
      ],
      "enhanced": false
    },
    {
      "crd_number": 174970,
      "name": "T. Anton Investment House, Inc.",
      "name_as_filed": "T. ANTON INVESTMENT HOUSE, INC.",
      "url": "https://advisorcensus.com/firm/t-anton-investment-house-inc-madison-wi-174970",
      "city": "Madison",
      "state": "WI",
      "years_registered": 9,
      "raum_band": "100m_500m",
      "compensation_types": [
        "percentage_of_aum"
      ],
      "enhanced": false
    },
    {
      "crd_number": 129609,
      "name": "Thompson Investment Management, Inc.",
      "name_as_filed": "THOMPSON INVESTMENT MANAGEMENT, INC.",
      "url": "https://advisorcensus.com/firm/thompson-investment-management-inc-madison-wi-129609",
      "city": "Madison",
      "state": "WI",
      "years_registered": 22,
      "raum_band": "1b_5b",
      "compensation_types": [
        "percentage_of_aum",
        "fixed"
      ],
      "enhanced": false
    },
    {
      "crd_number": 160109,
      "name": "Walkner Condon Financial Advisors LLC",
      "name_as_filed": "WALKNER CONDON FINANCIAL ADVISORS LLC",
      "url": "https://advisorcensus.com/firm/walkner-condon-financial-advisors-llc-verona-wi-160109",
      "city": "Verona",
      "state": "WI",
      "years_registered": 7,
      "raum_band": "1b_5b",
      "compensation_types": [
        "percentage_of_aum",
        "fixed"
      ],
      "enhanced": false
    },
    {
      "crd_number": 333435,
      "name": "Walleye Partners LLC",
      "name_as_filed": "WALLEYE PARTNERS LLC",
      "url": "https://advisorcensus.com/firm/walleye-partners-llc-madison-wi-333435",
      "city": "Madison",
      "state": "WI",
      "years_registered": 1,
      "raum_band": "100m_500m",
      "compensation_types": [
        "percentage_of_aum"
      ],
      "enhanced": false
    },
    {
      "crd_number": 110394,
      "name": "Wisconsin Capital Management, LLC",
      "name_as_filed": "WISCONSIN CAPITAL MANAGEMENT, LLC",
      "url": "https://advisorcensus.com/firm/wisconsin-capital-management-llc-madison-wi-110394",
      "city": "Madison",
      "state": "WI",
      "years_registered": 29,
      "raum_band": "100m_500m",
      "compensation_types": [
        "percentage_of_aum"
      ],
      "enhanced": false
    },
    {
      "crd_number": 168325,
      "name": "Yahara Wealth Management LLC",
      "name_as_filed": "YAHARA WEALTH MANAGEMENT LLC",
      "url": "https://advisorcensus.com/firm/yahara-wealth-management-llc-madison-wi-168325",
      "city": "Madison",
      "state": "WI",
      "years_registered": 0,
      "raum_band": "100m_500m",
      "compensation_types": [
        "percentage_of_aum",
        "hourly",
        "fixed"
      ],
      "enhanced": false
    }
  ],
  "states": [],
  "metros": [],
  "siblings": {
    "national": "/advisors",
    "state": {
      "path": "/advisors/wi",
      "label": "Financial advisors in Wisconsin"
    },
    "metro": {
      "path": "/advisors/wi/madison",
      "label": "Financial advisors in Madison, WI"
    },
    "city_pages": [
      {
        "path": "/advisors/wi/madison/middleton",
        "label": "Financial advisors in Middleton, WI",
        "firm_count": 10
      }
    ],
    "fee_pages": [
      {
        "path": "/advisors/wi/madison/flat-fee",
        "label": "Flat-fee financial advisors in Madison, WI",
        "firm_count": 42
      },
      {
        "path": "/advisors/wi/madison/hourly",
        "label": "Hourly financial advisors in Madison, WI",
        "firm_count": 30
      }
    ],
    "answer_pages": [
      {
        "path": "/advisors/wi/madison/for-high-net-worth-individuals",
        "firm_count": 50,
        "label": "Financial advisors for high-net-worth individuals in Madison, WI"
      },
      {
        "path": "/advisors/wi/madison/for-retirement-plans",
        "firm_count": 23,
        "label": "Financial advisors for retirement plans in Madison, WI"
      },
      {
        "path": "/advisors/wi/madison/for-businesses",
        "firm_count": 23,
        "label": "Financial advisors for businesses in Madison, WI"
      },
      {
        "path": "/advisors/wi/madison/for-charities",
        "firm_count": 26,
        "label": "Financial advisors for charitable organizations in Madison, WI"
      },
      {
        "path": "/advisors/wi/madison/no-account-minimum",
        "firm_count": 9,
        "label": "Financial advisors with no account minimum in Madison, WI"
      }
    ],
    "niche_pages": [],
    "state_fee": {
      "path": "/advisors/wi/fee-only",
      "label": "Fee-only financial advisors in Wisconsin"
    }
  },
  "csv": null,
  "source": {
    "name": "Form ADV",
    "as_of": "2026-10-01",
    "operator": "BH Monitor Services, LLC",
    "license": "https://creativecommons.org/licenses/by/4.0/",
    "credit": "AdvisorCensus (advisorcensus.com), from SEC Form ADV data"
  }
}