# Ironwood Investment Counsel, LLC

> Ironwood Investment Counsel, LLC is an SEC-registered investment advisory firm in Scottsdale, AZ, registered since 2001, reporting $1 billion to $5 billion in regulatory assets under management in its Form ADV filing dated March 24, 2026.

- CRD: 110623
- Filed as: IRONWOOD INVESTMENT COUNSEL, LLC
- Registration: SEC-registered investment adviser (status as filed: Approved)
- Location: Scottsdale, AZ
- Filing period: October 2026
- Form ADV filing dated: March 24, 2026
- SEC record (IAPD): https://adviserinfo.sec.gov/firm/summary/110623
- AdvisorCensus page: https://advisorcensus.com/firm/ironwood-investment-counsel-llc-scottsdale-az-110623

## Quick answers

**How is Ironwood Investment Counsel, LLC compensated?**
On its Form ADV (Item 5.E, October 2026), Ironwood Investment Counsel, LLC reports these compensation arrangements: a percentage of assets under its management.

**Where is Ironwood Investment Counsel, LLC located?**
Ironwood Investment Counsel, LLC's principal office is in Scottsdale, AZ, according to its Form ADV.

**Is Ironwood Investment Counsel, LLC registered with the SEC or a state?**
Ironwood Investment Counsel, LLC is an SEC-registered investment advisory firm, registered since 2001. Status as filed: Approved. CRD 110623.

**How much does Ironwood Investment Counsel, LLC manage?**
Ironwood Investment Counsel, LLC reports $1,757,391,038 in regulatory assets under management in its Form ADV filing dated March 24, 2026 (100% discretionary).

**How have Ironwood Investment Counsel, LLC's assets and staff changed since 2021?**
In the Form ADV data for Ironwood Investment Counsel, LLC: Regulatory assets under management: $1,460,774,367 in the October 2021 data and $1,757,391,038 in the October 2026 data, up 20%. Total employees: 11 in October 2021 and 22 in October 2026. Assets under management move with markets as well as with clients coming and going.

**What types of clients does Ironwood Investment Counsel, LLC serve?**
By number of clients on Form ADV Item 5.D: high net worth individuals (300); individuals (other than high net worth individuals) (249); charitable organizations (5).

**Which custodians does Ironwood Investment Counsel, LLC use?**
Ironwood Investment Counsel, LLC's most recent Form ADV filing (Schedule D, Section 5.K(3)) lists Charles Schwab & Co., Inc. and National Financial Services LLC as custodians holding 10% or more of its separately managed account assets.

**Does Ironwood Investment Counsel, LLC 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/110623

**Does Ironwood Investment Counsel, LLC state an account minimum?**
Its Form ADV Part 2A brochure dated March 23, 2026 says: "Our minimum account size is $500,000. This minimum may be waived or reduced at the Registrant’s discretion."

**What changed in Ironwood Investment Counsel, LLC's recent Form ADV filings?**
In the April 2026 filing data: Employees performing advisory functions went from 14 to 12. Regulatory assets under management went from $1,511,170,253 to $1,757,391,038 (+16%).

## From the Form ADV filing

### Compensation (Item 5.E)
- A percentage of assets under your management

### Fees and minimums (Form ADV Part 2A brochure dated March 23, 2026)

- Account minimum: $500,000 (the brochure says it may be waived or negotiated)

> Our minimum account size is $500,000. This minimum may be waived or reduced at the Registrant’s discretion.

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.
- National Financial Services LLC

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: $1,757,391,038
- Discretionary: $1,757,391,038
- Non-discretionary: $0

### Clients (Item 5.D)

| Client type | Clients | Assets |
| --- | --- | --- |
| Individuals (other than high net worth individuals) | 249 | $212,434,855 |
| High net worth individuals | 300 | $1,368,997,502 |
| Pension and profit sharing plans (but not the plan participants or government pension plans) | Fewer than 5 | $28,005,134 |
| Charitable organizations | 5 | $29,961,760 |
| Other investment advisers | Fewer than 5 | $96,734,768 |
| Corporations or other businesses not listed above | Fewer than 5 | $21,257,019 |

### 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
- Selection of other advisers (including private fund managers)

### Firm details
- Registered since: 2001 (25 years)
- Employees: 22 total, 12 performing advisory functions
- Wrap fee program participation: No
- States registered or notice-filed: AK, AZ, CA, CO, FL, ID, IL, IN, MA, MI, MN, MO, NJ, NM, NV, NY, OH, OK, OR, PA, TX, UT, VA, VT, WA, WI, WY
- Disclosures (Item 11): Reports no disclosure items on Form ADV Item 11.

### Websites listed on Form ADV (Item 1.I)
- ironwoodic.com
- LinkedIn @ironwood-investment-counsel
- X @IRONWOODIC

## Assets and staff over time

| Data period | Regulatory assets under management | Employees | Filing dated |
| --- | --- | --- | --- |
| October 2021 | $1,460,774,367 | 11 | March 26, 2021 |
| October 2022 | $1,264,043,811 | 14 | March 28, 2022 |
| October 2023 | $1,179,401,550 | 17 | March 15, 2023 |
| October 2024 | $1,400,440,770 | 19 | September 11, 2024 |
| October 2025 | $1,511,170,253 | 19 | March 18, 2025 |
| October 2026 | $1,757,391,038 | 22 | March 24, 2026 |

Regulatory assets under management: $1,460,774,367 in the October 2021 data and $1,757,391,038 in the October 2026 data, up 20%.
Total employees: 11 in October 2021 and 22 in October 2026.

## Changes in the filing (last 12 months)

### April 2026
- Employees performing advisory functions went from 14 to 12.
- Regulatory assets under management went from $1,511,170,253 to $1,757,391,038 (+16%).

### December 2025
- Registered or notice-filed in AK.

## Source

Form ADV as filed, October 2026. Values appear as filed. Cite as: AdvisorCensus. Ironwood Investment Counsel, LLC (CRD 110623): Form ADV filing data as of October 2026.