# Investment Management Group

> Investment Management Group is an SEC-registered investment advisory firm in Billings, MT, registered since 2002, reporting over $5 billion in regulatory assets under management in its Form ADV filing dated July 20, 2026.

- CRD: 122166
- Filed as: INVESTMENT MANAGEMENT GROUP
- Legal name: Stockman Wealth Management, Inc.
- Also doing business as: INVESTMENT MANAGEMENT GROUP
- Registration: SEC-registered investment adviser (status as filed: Approved)
- Location: Billings, MT
- Filing period: October 2026
- Form ADV filing dated: July 20, 2026
- SEC record (IAPD): https://adviserinfo.sec.gov/firm/summary/122166
- AdvisorCensus page: https://advisorcensus.com/firm/investment-management-group-billings-mt-122166

## Quick answers

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

**How much does Investment Management Group charge?**
Its Form ADV Part 2A brochure dated July 20, 2026 states: Flat fee: $2,500 (financial planning services). Fees can differ by service and may be negotiable; the brochure is the complete statement.

**Where is Investment Management Group located?**
Investment Management Group's principal office is in Billings, MT, according to its Form ADV; the August 2026 filing also lists 8 other offices (Schedule D, Section 1.F).

**Is Investment Management Group registered with the SEC or a state?**
Investment Management Group is an SEC-registered investment advisory firm, registered since 2002. Status as filed: Approved. CRD 122166.

**How much does Investment Management Group manage?**
Investment Management Group reports $5,235,996,694 in regulatory assets under management in its Form ADV filing dated July 20, 2026 (33% discretionary).

**How have Investment Management Group's assets and staff changed since 2021?**
In the Form ADV data for Investment Management Group: Regulatory assets under management: $4,391,732,852 in the October 2021 data and $5,235,996,694 in the October 2026 data, up 19%. Total employees: 24 in October 2021 and 30 in October 2026. Assets under management move with markets as well as with clients coming and going.

**What types of clients does Investment Management Group serve?**
By number of clients on Form ADV Item 5.D: individuals (other than high net worth individuals) (960); high net worth individuals (379); corporations or other businesses not listed above (66).

**Which custodians does Investment Management Group use?**
Investment Management 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 Investment Management 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/122166

**What changed in Investment Management Group's recent Form ADV filings?**
In the August 2026 filing data: Updated its list of owners and control persons (Schedule A).

## 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 July 20, 2026)

- Flat fee: $2,500 (financial planning services)

> Our financial planning fees are billed and charged on a fixed fee basis, typically $2,500. However, Stockman Wealth Management reserves the right to assess a greater fee for financial planning services

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: $5,235,996,694
- Discretionary: $1,753,202,838
- Non-discretionary: $3,482,793,856

### Clients (Item 5.D)

| Client type | Clients | Assets |
| --- | --- | --- |
| Individuals (other than high net worth individuals) | 960 | $303,259,558 |
| High net worth individuals | 379 | $1,037,803,283 |
| Banking or thrift institutions | 8 | $3,009,173,761 |
| Investment companies | 0 | $0 |
| Business development companies | 0 | $0 |
| Pooled investment vehicles (other than investment companies and business development companies) | 0 | $0 |
| Pension and profit sharing plans (but not the plan participants or government pension plans) | 25 | $266,610,877 |
| Charitable organizations | 64 | $229,004,978 |
| State or municipal government entities (including government pension plans) | 12 | $165,459,714 |
| Insurance companies | 3 | $23,405,641 |
| Corporations or other businesses not listed above | 66 | $186,077,657 |
| Other | 15 | $15,201,225 |

### Advisory services (Item 5.G)
- Financial planning services
- Portfolio management for individuals and/or small businesses
- Portfolio management for businesses (other than small businesses) or institutional clients
- Pension consulting services
- Other

### Firm details
- Registered since: 2002 (23 years)
- Employees: 30 total, 23 performing advisory functions
- Wrap fee program participation: No
- States registered or notice-filed: AZ, CA, FL, ID, MN, MT, ND, NH, NV, NY, OR, SD, TX, WA, WI, WY
- Disclosures (Item 11): Reports no disclosure items on Form ADV Item 11.

### Other offices (Schedule D, Section 1.F), as of the August 2026 filing
- Billings, MT
- Bozeman, MT
- Glendive, MT
- Great Falls, MT
- Helena, MT
- Missoula, MT
- Sidney, ME
- Whitefish, MT

### Websites listed on Form ADV (Item 1.I)
- stockmanbank.com/wealth-management
- LinkedIn @stockman-wealth-management

## Assets and staff over time

| Data period | Regulatory assets under management | Employees | Filing dated |
| --- | --- | --- | --- |
| October 2021 | $4,391,732,852 | 24 | September 16, 2021 |
| October 2022 | $5,729,989,821 | 25 | August 8, 2022 |
| October 2023 | $4,470,755,002 | 26 | October 3, 2023 |
| October 2024 | $4,779,207,780 | 31 | August 26, 2024 |
| October 2025 | $5,065,457,259 | 30 | March 3, 2025 |
| October 2026 | $5,235,996,694 | 30 | July 20, 2026 |

Regulatory assets under management: $4,391,732,852 in the October 2021 data and $5,235,996,694 in the October 2026 data, up 19%.
Total employees: 24 in October 2021 and 30 in October 2026.

## Changes in the filing (last 12 months)

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

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

### February 2026
- Employees performing advisory functions went from 21 to 23.

### December 2025
- No longer lists an office in Billings, MT.

## Source

Form ADV as filed, October 2026. Values appear as filed. Cite as: AdvisorCensus. Investment Management Group (CRD 122166): Form ADV filing data as of October 2026.