# Kestrel Wealth Management, LLC

> Kestrel Wealth Management, LLC is an SEC-registered investment advisory firm in South Bend, IN, registered since 2022, reporting $100 million to $500 million in regulatory assets under management in its Form ADV filing dated January 6, 2026.

- CRD: 153503
- Filed as: KESTREL WEALTH MANAGEMENT, LLC
- Registration: SEC-registered investment adviser (status as filed: Approved)
- Location: South Bend, IN
- Filing period: October 2026
- Form ADV filing dated: January 6, 2026
- SEC record (IAPD): https://adviserinfo.sec.gov/firm/summary/153503
- AdvisorCensus page: https://advisorcensus.com/firm/kestrel-wealth-management-llc-south-bend-in-153503

## Quick answers

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

**What does Kestrel Wealth Management, LLC's brochure say about its fees?**
Its Form ADV Part 2A brochure dated January 6, 2026 states: Up to $2,000,000: 1% a year; $2,000,000 to $5,000,000: 0.8% a year; Above $5,000,000: 0.65% a year. Fees can differ by service and may be negotiable; the brochure is the complete statement.

**Where is Kestrel Wealth Management, LLC located?**
Kestrel Wealth Management, LLC's principal office is in South Bend, IN, according to its Form ADV.

**Is Kestrel Wealth Management, LLC registered with the SEC or a state?**
Kestrel Wealth Management, LLC is an SEC-registered investment advisory firm, registered since 2022. Status as filed: Approved. CRD 153503.

**How much does Kestrel Wealth Management, LLC manage?**
Kestrel Wealth Management, LLC reports $143,906,000 in regulatory assets under management in its Form ADV filing dated January 6, 2026 (100% discretionary).

**How have Kestrel Wealth Management, LLC's assets and staff changed since 2022?**
In the Form ADV data for Kestrel Wealth Management, LLC: Regulatory assets under management: $117,361,000 in the October 2022 data and $143,906,000 in the October 2026 data, up 23%. Total employees: 1 in October 2022 and 2 in October 2026. Assets under management move with markets as well as with clients coming and going.

**What types of clients does Kestrel Wealth Management, LLC serve?**
By number of clients on Form ADV Item 5.D: individuals (other than high net worth individuals) (56); high net worth individuals (29).

**Which custodians does Kestrel Wealth Management, LLC use?**
Kestrel Wealth Management, LLC's most recent Form ADV filing (Schedule D, Section 5.K(3)) lists Fidelity Brokerage Services LLC as a custodian holding 10% or more of its separately managed account assets.

**Does Kestrel Wealth Management, 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/153503

**Does Kestrel Wealth Management, LLC state an account minimum?**
Its Form ADV Part 2A brochure dated January 6, 2026 says: "There is no minimum account size and Clients are not required to have a certain amount of investment experience or sophistication."

## 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 January 6, 2026)

- Up to $2,000,000: 1% a year
- $2,000,000 to $5,000,000: 0.8% a year
- Above $5,000,000: 0.65% a year

> Kestrel charges an annual investment advisory fee based on the total assets under management as follows: Assets Under Management Annual Fee First $2,000,000 1.00% Next $3,000,000 0.80% Over $5,000,000 0.65%

- Account minimum: None

> There is no minimum account size and Clients are not required to have a certain amount of investment experience or sophistication.

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

### Custodians (Schedule D, Section 5.K(3))
- Fidelity Brokerage 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: $143,906,000
- Discretionary: $143,906,000
- Non-discretionary: $0

### Clients (Item 5.D)

| Client type | Clients | Assets |
| --- | --- | --- |
| Individuals (other than high net worth individuals) | 56 | $12,483,000 |
| High net worth individuals | 29 | $131,423,000 |
| Banking or thrift institutions | 0 | $0 |
| 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) | 0 | $0 |
| Charitable organizations | 0 | $0 |
| State or municipal government entities (including government pension plans) | 0 | $0 |
| Other investment advisers | 0 | $0 |
| Insurance companies | 0 | $0 |
| Sovereign wealth funds and foreign official institutions | 0 | $0 |
| Corporations or other businesses not listed above | 0 | $0 |
| Other | 0 | $0 |

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

### Firm details
- Registered since: 2022 (4 years)
- Employees: 2 total, 2 performing advisory functions
- Wrap fee program participation: No
- States registered or notice-filed: IN, MI
- Disclosures (Item 11): Reports no disclosure items on Form ADV Item 11.

### Websites listed on Form ADV (Item 1.I)
- kestrelwealth.com

## Assets and staff over time

| Data period | Regulatory assets under management | Employees | Filing dated |
| --- | --- | --- | --- |
| October 2022 | $117,361,000 | 1 | April 22, 2022 |
| October 2023 | $108,416,064 | 1 | January 26, 2023 |
| October 2024 | $127,826,000 | 1 | January 10, 2024 |
| October 2025 | $134,165,706 | 2 | January 24, 2025 |
| October 2026 | $143,906,000 | 2 | January 6, 2026 |

Regulatory assets under management: $117,361,000 in the October 2022 data and $143,906,000 in the October 2026 data, up 23%.
Total employees: 1 in October 2022 and 2 in October 2026.

## Source

Form ADV as filed, October 2026. Values appear as filed. Cite as: AdvisorCensus. Kestrel Wealth Management, LLC (CRD 153503): Form ADV filing data as of October 2026.