# Ellenbecker Investment Group

> Ellenbecker Investment Group is an SEC-registered investment advisory firm in Waukesha, WI, registered since 2014, reporting $1 billion to $5 billion in regulatory assets under management in its Form ADV filing dated March 27, 2026.

- CRD: 173851
- Filed as: ELLENBECKER INVESTMENT GROUP
- Legal name: Ellenbecker Investment Group, Inc.
- Also doing business as: EIG
- Registration: SEC-registered investment adviser (status as filed: Approved)
- Location: Waukesha, WI
- Filing period: October 2026
- Form ADV filing dated: March 27, 2026
- SEC record (IAPD): https://adviserinfo.sec.gov/firm/summary/173851
- AdvisorCensus page: https://advisorcensus.com/firm/ellenbecker-investment-group-waukesha-wi-173851

## Quick answers

**How is Ellenbecker Investment Group compensated?**
On its Form ADV (Item 5.E, October 2026), Ellenbecker Investment Group reports these compensation arrangements: a percentage of assets under its management; fixed fees (other than subscription fees); other.

**Where is Ellenbecker Investment Group located?**
Ellenbecker Investment Group's principal office is in Waukesha, WI, according to its Form ADV; the April 2026 filing also lists 2 other offices (Schedule D, Section 1.F).

**Is Ellenbecker Investment Group registered with the SEC or a state?**
Ellenbecker Investment Group is an SEC-registered investment advisory firm, registered since 2014. Status as filed: Approved. CRD 173851.

**How much does Ellenbecker Investment Group manage?**
Ellenbecker Investment Group reports $2,062,688,555 in regulatory assets under management in its Form ADV filing dated March 27, 2026 (100% discretionary).

**How have Ellenbecker Investment Group's assets and staff changed since 2021?**
In the Form ADV data for Ellenbecker Investment Group: Regulatory assets under management: $1,121,347,182 in the October 2021 data and $2,062,688,555 in the October 2026 data, up 84%. Total employees: 31 in October 2021 and 51 in October 2026. Assets under management move with markets as well as with clients coming and going.

**What types of clients does Ellenbecker Investment Group serve?**
By number of clients on Form ADV Item 5.D: individuals (other than high net worth individuals) (1,593); high net worth individuals (684); charitable organizations (6).

**Which custodians does Ellenbecker Investment Group use?**
Ellenbecker Investment Group's most recent Form ADV filing (Schedule D, Section 5.K(3)) lists Charles Schwab & Co., Inc. as a custodian holding 10% or more of its separately managed account assets.

**Does Ellenbecker Investment Group report any disciplinary disclosures?**
Reports no disclosure items on Form ADV Item 11. The detail of any item is on the firm's SEC record: https://adviserinfo.sec.gov/firm/summary/173851

**Does Ellenbecker Investment Group state an account minimum?**
Its Form ADV Part 2A brochure dated March 27, 2026 says: "EIG does not generally require a minimum account size, but there may be minimum account sizes and fees for the services offered by third-party managers if they are used."

**What changed in Ellenbecker Investment Group's recent Form ADV filings?**
In the April 2026 filing data: Regulatory assets under management went from $1,731,276,641 to $2,062,688,555 (+19%).

## From the Form ADV filing

### Compensation (Item 5.E)
- A percentage of assets under your management
- Fixed fees (other than subscription fees)
- Other

### Fees and minimums (Form ADV Part 2A brochure dated March 27, 2026)

- Account minimum: None

> EIG does not generally require a minimum account size, but there may be minimum account sizes and fees for the services offered by third-party managers if they are used.

As stated in the firm's brochure. Fees can differ by service and may be negotiable.

### Custodians (Schedule D, Section 5.K(3))
- Charles Schwab & Co., Inc.

Custodians holding 10% or more of the firm's separately managed account assets, as filed on Form ADV (Schedule D, Section 5.K(3)). A custodian holds client assets; it does not endorse or supervise the firm. AdvisorCensus has no relationship with any custodian.

### Regulatory assets under management (Item 5.F)
- Total: $2,062,688,555
- Discretionary: $2,060,724,084
- Non-discretionary: $1,964,471

### Clients (Item 5.D)

| Client type | Clients | Assets |
| --- | --- | --- |
| Individuals (other than high net worth individuals) | 1,593 | $513,629,300 |
| High net worth individuals | 684 | $1,543,990,861 |
| Banking or thrift institutions | 0 | Not reported |
| Investment companies | 0 | Not reported |
| Business development companies | 0 | Not reported |
| Pooled investment vehicles (other than investment companies and business development companies) | 0 | Not reported |
| Pension and profit sharing plans (but not the plan participants or government pension plans) | 0 | Not reported |
| Charitable organizations | 6 | $2,722,107 |
| State or municipal government entities (including government pension plans) | 0 | Not reported |
| Other investment advisers | 0 | Not reported |
| Insurance companies | 0 | Not reported |
| Sovereign wealth funds and foreign official institutions | 0 | Not reported |
| Corporations or other businesses not listed above | Fewer than 5 | $2,346,287 |
| Other | 0 | Not reported |

### Advisory services (Item 5.G)
- Financial planning services
- Portfolio management for individuals and/or small businesses
- Selection of other advisers (including private fund managers)
- Publication of periodicals or newsletters
- Educational seminars/workshops

### Firm details
- Registered since: 2014 (11 years)
- Employees: 51 total, 13 performing advisory functions
- Wrap fee program participation: No
- States registered or notice-filed: AR, AZ, CA, CO, FL, GA, IL, IN, KY, LA, MI, MN, NC, NE, NY, OH, OR, SC, TN, TX, VA, WA, WI
- Disclosures (Item 11): Reports no disclosure items on Form ADV Item 11.

### Other offices (Schedule D, Section 1.F), as of the April 2026 filing
- Bonita Springs, FL
- Whitefish Bay, WI

### Websites listed on Form ADV (Item 1.I)
- ellenbecker.com
- moneysense.castos.com
- mpc.castos.com
- Facebook @ELLENBECKERINVESTMENTGROUP
- LinkedIn @ELLENBECKER-INVESTMENT-GROUP
- YouTube @ELLENBECKERINVESTMENTGROUPINC

## Assets and staff over time

| Data period | Regulatory assets under management | Employees | Filing dated |
| --- | --- | --- | --- |
| October 2021 | $1,121,347,182 | 31 | September 13, 2021 |
| October 2022 | $1,390,988,383 | 33 | March 10, 2022 |
| October 2023 | $1,250,836,104 | 34 | August 31, 2023 |
| October 2024 | $1,491,336,546 | 39 | March 11, 2024 |
| October 2025 | $1,731,276,641 | 42 | March 25, 2025 |
| October 2026 | $2,062,688,555 | 51 | March 27, 2026 |

Regulatory assets under management: $1,121,347,182 in the October 2021 data and $2,062,688,555 in the October 2026 data, up 84%.
Total employees: 31 in October 2021 and 51 in October 2026.

## Changes in the filing (last 12 months)

### April 2026
- Regulatory assets under management went from $1,731,276,641 to $2,062,688,555 (+19%).

### February 2026
- Registered or notice-filed in OR.

### January 2026
- Updated its list of owners and control persons (Schedule A).

## Source

Form ADV as filed, October 2026. Values appear as filed. Cite as: AdvisorCensus. Ellenbecker Investment Group (CRD 173851): Form ADV filing data as of October 2026.