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Fiduciary Counselling Inc

St Paul, MNSEC-registered investment adviserCRD 104753

Filed as FIDUCIARY COUNSELLING INC

Fiduciary Counselling Inc is an SEC-registered investment advisory firm in St Paul, MN, registered since 1966, reporting over $5 billion in regulatory assets under management in its Form ADV filing dated March 17, 2026.

59 years
registered since 1966
$10,056,745,777
assets under management
2 arrangements
Percentage of assets, Fixed fees
None
disclosure items (Item 11)

Quick answers

From the filing

How is Fiduciary Counselling Inc compensated?

On its Form ADV (Item 5.E, October 2026), Fiduciary Counselling Inc reports these compensation arrangements: a percentage of assets under its management; fixed fees (other than subscription fees).

How much does Fiduciary Counselling Inc charge?

Its Form ADV Part 2A brochure dated March 17, 2026 states: Flat fee: $1,500 (divorce services); Flat fee: $500 (donor advised fund (DAF) accounts where FCI provides…). Fees can differ by service and may be negotiable; the brochure is the complete statement.

Where is Fiduciary Counselling Inc located?

Fiduciary Counselling Inc's principal office is in St Paul, MN, according to its Form ADV; the April 2026 filing also lists 1 other office (Schedule D, Section 1.F).

Is Fiduciary Counselling Inc registered with the SEC or a state?

Fiduciary Counselling Inc is an SEC-registered investment advisory firm, registered since 1966. Status as filed: Approved. CRD 104753.

How much does Fiduciary Counselling Inc manage?

Fiduciary Counselling Inc reports $10,056,745,777 in regulatory assets under management in its Form ADV filing dated March 17, 2026 (44% discretionary).

How have Fiduciary Counselling Inc's assets and staff changed since 2021?

In the Form ADV data for Fiduciary Counselling Inc: Regulatory assets under management: $9,116,006,224 in the October 2021 data and $10,056,745,777 in the October 2026 data, up 10%. Total employees: 76 in October 2021 and 87 in October 2026. Assets under management move with markets as well as with clients coming and going.

What types of clients does Fiduciary Counselling Inc serve?

By number of clients on Form ADV Item 5.D: individuals (other than high net worth individuals) (1,002); high net worth individuals (643); corporations or other businesses not listed above (87).

Which custodians does Fiduciary Counselling Inc use?

Fiduciary Counselling Inc's most recent Form ADV filing (Schedule D, Section 5.K(3)) lists National Financial Services LLC as a custodian holding 10% or more of its separately managed account assets.

Does Fiduciary Counselling Inc 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/104753

Does Fiduciary Counselling Inc state an account minimum?

Its Form ADV Part 2A brochure dated March 17, 2026 says: "FCI does not impose a minimum account size."

From the Form ADV filing

Every figure below is as the firm filed it with regulators, as of October 2026.

How the firm is compensated

Item 5.E
  • A percentage of assets under your management
  • Fixed fees (other than subscription fees)

Item 5.E lists how the firm is compensated for its advice; Items 5.B, 6.A, and 7.A show whether its people or related companies can also earn commissions. Percentage of assets, fixed, hourly, subscription, and performance-based fees come from clients (a performance-based fee depends on investment results); commissions come with a sale or a trade, often from the company behind the product. How fees, commissions, and other arrangements differ

Fees and minimums

Form ADV Part 2A

The brochure lists different fees for different services or strategies; see the brochure for them.

Account minimum: None

The brochure's wording
FCI does not impose a minimum account size.

Flat fee: $1,500 (divorce services)

The brochure's wording
Fees for divorce services are charged at the greater of five percent of a client’s quarterly market value-based fee or a minimum flat fee of $1,500 and are billed quarterly.

Flat fee: $500 (donor advised fund (DAF) accounts where FCI provides…)

The brochure's wording
FCI charges a flat fee of $500 for donor advised fund (DAF) accounts where FCI provides accounting, reporting or investing services (if FCI assists with the setup) and for certain special purpose trusts.

As stated in the firm's Form ADV Part 2A brochure dated March 17, 2026. Fees can differ by service and may be negotiable; the brochure is the complete statement. Read the brochure on the SEC's IAPD site

Regulatory assets under management

Item 5.F
$10,056,745,777

$10,056,745,777 as of October 2026, filing dated March 17, 2026.

Discretionary: $4,392,071,487.Non-discretionary: $5,664,674,290.

A measure of scale, not skill or returns. Discretionary means the firm decides trades; non-discretionary means clients approve each one. What assets under management means

Who the firm serves

Item 5.D
Individuals (other than high net worth individuals)
Clients 1,002 Assets $658,505,420 (7%)
High net worth individuals
Clients 643 Assets $8,182,499,961 (81%)
Banking or thrift institutions
Clients 0 Assets $0 (0%)
Investment companies
Clients 3 Assets $5,713,262 (0%)
Business development companies
Clients 0 Assets $0 (0%)
Pooled investment vehicles (other than investment companies and business development companies)
Clients 0 Assets $0 (0%)
Pension and profit sharing plans (but not the plan participants or government pension plans)
Clients 0 Assets $0 (0%)
Charitable organizations
Clients 25 Assets $468,069,719 (5%)
State or municipal government entities (including government pension plans)
Clients 0 Assets $0 (0%)
Other investment advisers
Clients 1 Assets $3,651,078 (0%)
Insurance companies
Clients 0 Assets $0 (0%)
Sovereign wealth funds and foreign official institutions
Clients 0 Assets $0 (0%)
Corporations or other businesses not listed above
Clients 87 Assets $738,306,337 (7%)
Other
Clients 0 Assets $0 (0%)

A firm with no individual clients is an institutional manager even if it manages billions; the mix tells you whom the practice is built around.

Advisory services

Item 5.G
  • Financial planning services
  • Portfolio management for individuals and/or small businesses
  • Portfolio management for investment companies (and business development companies)
  • Portfolio management for businesses (other than small businesses) or institutional clients
  • Selection of other advisers (including private fund managers)
  • Educational seminars/workshops
  • Other

Registration and firm details

Items 1, 2, 5
Registration
SEC-registered investment adviser. Status as filed: Approved.
Registered since
1966 (59 years)
Employees
Total: 87. Performing investment advisory functions: 18.
Wrap fee program participation
No.
Custodians (Schedule D, Section 5.K(3))

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.

Other offices (Schedule D, Section 1.F)
1 other office, as of the April 2026 filing
Tacoma, WA
States registered or notice-filed
16 states or jurisdictions
CAFLILMAMDMNMTNCNHNVNYORPASCTXWA

SEC-registered investment advisers are examined by the SEC. SEC, state, and exempt registration

Disclosures

Item 11

None Reports no disclosure items on Form ADV Item 11. View on IAPD.

Item 11 asks about criminal, regulatory, and civil events involving the firm and its advisory personnel. The detail of each yes answer is on the IAPD record. Reading a firm's disclosures

Assets and staff over time

Items 5.A, 5.F
$9.12B 2021 $11.4B 2022 $11.6B 2023 $9.49B 2024 $9.5B 2025 $10.1B 2026
Data periodAssets under managementEmployeesFiling dated
October 2026$10,056,745,77787March 17, 2026
October 2025$9,504,938,31191July 1, 2025
October 2024$9,488,550,77188March 12, 2024
October 2023$11,563,849,94284October 3, 2023
October 2022$11,435,637,72578May 20, 2022
October 2021$9,116,006,22476March 26, 2021

Regulatory assets under management: $9,116,006,224 in the October 2021 data and $10,056,745,777 in the October 2026 data, up 10%.

Total employees: 76 in October 2021 and 87 in October 2026.

As filed in each year's data for the same month. Assets under management move with markets as well as with clients coming and going; they measure scale, not skill or returns. Most firms update these figures once a year.

Changes in the filing

Last 12 months

No changes to these filed facts in the last 12 months of filing data.

Compared month to month from the SEC's monthly adviser data and the state compilation feed. Owners and control persons are summarized, never named.

Websites listed on Form ADV

Item 1.I

Source: Form ADV, as of October 2026. Values appear as filed; a value the firm did not report is shown as "Not reported."

Cite this page

AdvisorCensus. Fiduciary Counselling Inc (CRD 104753): Form ADV filing data as of October 2026.
https://advisorcensus.com/firm/fiduciary-counselling-inc-st-paul-mn-104753