{
  "crd_number": 107847,
  "slug": "klcm-advisors-inc-milwaukee-wi-107847",
  "primary_business_name": "KLCM ADVISORS, INC.",
  "legal_name": "KLCM ADVISORS, INC.",
  "dbas": [],
  "city": "Milwaukee",
  "state": "WI",
  "country": "United States",
  "cbsa_code": "33340",
  "metro": {
    "cbsa_code": "33340",
    "common_name": "Milwaukee",
    "msa_name": "Milwaukee-Waukesha, WI",
    "path": "/advisors/wi/milwaukee"
  },
  "registration_type": "sec",
  "registration_status": "Approved",
  "registration_date": "1993-03-11",
  "years_registered": 33,
  "period": "2026-10-01",
  "filing_date": "2026-03-10",
  "carried_forward": false,
  "raum_total": 1876936306.0,
  "raum_discretionary": 1876936306.0,
  "raum_non_discretionary": 0.0,
  "raum_band": "1b_5b",
  "raum_band_label": "$1 billion to $5 billion",
  "total_employees": 11,
  "advisory_employees": 5,
  "client_count_bucket": "fewer_than_5_in_some_types",
  "clients_by_type": {
    "other": {
      "raum": 21692483.0,
      "count": 2,
      "description": "PARTNERSHIPS",
      "fewer_than_5": true
    },
    "charitable": {
      "raum": 938342.0,
      "count": 1,
      "fewer_than_5": true
    },
    "individuals": {
      "raum": 120777482.0,
      "count": 228
    },
    "banking_thrift": {
      "raum": 0.0,
      "count": 0
    },
    "state_municipal": {
      "raum": 0.0,
      "count": 0
    },
    "insurance_companies": {
      "raum": 0.0,
      "count": 0
    },
    "investment_companies": {
      "raum": 0.0,
      "count": 0
    },
    "pension_profit_sharing": {
      "raum": 2569352.0,
      "count": 2,
      "fewer_than_5": true
    },
    "other_investment_advisers": {
      "raum": 0.0,
      "count": 0
    },
    "high_net_worth_individuals": {
      "raum": 1656693259.0,
      "count": 397
    },
    "pooled_investment_vehicles": {
      "raum": 0.0,
      "count": 0
    },
    "corporations_other_businesses": {
      "raum": 74265388.0,
      "count": 7
    },
    "business_development_companies": {
      "raum": 0.0,
      "count": 0
    },
    "sovereign_wealth_foreign_official": {
      "raum": 0.0,
      "count": 0
    }
  },
  "compensation_types": [
    "fixed",
    "percentage_of_aum"
  ],
  "advisory_activities": [
    "portfolio_management_businesses_institutional",
    "portfolio_management_individuals"
  ],
  "wrap_fee_participant": false,
  "disclosure_yes_count": 0,
  "states_registered": [
    "AL",
    "AZ",
    "CA",
    "CO",
    "FL",
    "GA",
    "IL",
    "IN",
    "MI",
    "MN",
    "NC",
    "NY",
    "TX",
    "WI"
  ],
  "websites": [
    "https://klcminc.com",
    "https://linkedin.com/company/klcm-advisors-inc"
  ],
  "iapd_url": "https://adviserinfo.sec.gov/firm/summary/107847",
  "city_as_filed": "MILWAUKEE",
  "url": "https://advisorcensus.com/firm/klcm-advisors-inc-milwaukee-wi-107847",
  "display_name": "KLCM Advisors, Inc.",
  "summary": "KLCM Advisors, Inc. is an SEC-registered investment advisory firm in Milwaukee, WI, registered since 1993, reporting $1 billion to $5 billion in regulatory assets under management in its Form ADV filing dated March 10, 2026.",
  "citation": "AdvisorCensus. KLCM Advisors, Inc. (CRD 107847): Form ADV filing data as of October 2026.",
  "registration_type_label": "SEC-registered investment adviser",
  "compensation_labels": [
    "A percentage of assets under your management",
    "Fixed fees (other than subscription fees)"
  ],
  "advisory_activity_labels": [
    "Portfolio management for individuals and/or small businesses",
    "Portfolio management for businesses (other than small businesses) or institutional clients"
  ],
  "quick_answers": [
    {
      "q": "How is KLCM Advisors, Inc. compensated?",
      "a": "On its Form ADV (Item 5.E, October 2026), KLCM Advisors, Inc. reports these compensation arrangements: a percentage of assets under its management; fixed fees (other than subscription fees)."
    },
    {
      "q": "Where is KLCM Advisors, Inc. located?",
      "a": "KLCM Advisors, Inc.'s principal office is in Milwaukee, WI, according to its Form ADV."
    },
    {
      "q": "Is KLCM Advisors, Inc. registered with the SEC or a state?",
      "a": "KLCM Advisors, Inc. is an SEC-registered investment advisory firm, registered since 1993. Status as filed: Approved. CRD 107847."
    },
    {
      "q": "How much does KLCM Advisors, Inc. manage?",
      "a": "KLCM Advisors, Inc. reports $1,876,936,306 in regulatory assets under management in its Form ADV filing dated March 10, 2026 (100% discretionary)."
    },
    {
      "q": "How have KLCM Advisors, Inc.'s assets and staff changed since 2021?",
      "a": "In the Form ADV data for KLCM Advisors, Inc.: Regulatory assets under management: $857,576,139 in the October 2021 data and $1,876,936,306 in the October 2026 data, up 119%. Total employees: 9 in October 2021 and 11 in October 2026. Assets under management move with markets as well as with clients coming and going."
    },
    {
      "q": "What types of clients does KLCM Advisors, Inc. serve?",
      "a": "By number of clients on Form ADV Item 5.D: high net worth individuals (397); individuals (other than high net worth individuals) (228); corporations or other businesses not listed above (7)."
    },
    {
      "q": "Which custodians does KLCM Advisors, Inc. use?",
      "a": "KLCM Advisors, Inc.'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."
    },
    {
      "q": "Does KLCM Advisors, Inc. report any disciplinary disclosures?",
      "a": "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/107847"
    },
    {
      "q": "Does KLCM Advisors, Inc. state an account minimum?",
      "a": "Its Form ADV Part 2A brochure dated March 10, 2026 says: \"The general minimum account size for management is $500,000. Exceptions are made based on investment client type, account size, relationship size, service requirements, and other factors.\""
    },
    {
      "q": "What changed in KLCM Advisors, Inc.'s recent Form ADV filings?",
      "a": "In the April 2026 filing data: Employees performing advisory functions went from 6 to 5. Regulatory assets under management went from $1,461,996,538 to $1,876,936,306 (+28%). Registered or notice-filed in GA."
    }
  ],
  "filing_history": [
    {
      "period": "2021-10-01",
      "regulatory_assets_under_management": 857576139.0,
      "total_employees": 9,
      "filing_date": "2021-06-01"
    },
    {
      "period": "2022-10-01",
      "regulatory_assets_under_management": 923021783.0,
      "total_employees": 11,
      "filing_date": "2022-04-04"
    },
    {
      "period": "2023-10-01",
      "regulatory_assets_under_management": 973996676.0,
      "total_employees": 11,
      "filing_date": "2023-03-23"
    },
    {
      "period": "2024-10-01",
      "regulatory_assets_under_management": 1245254051.0,
      "total_employees": 11,
      "filing_date": "2024-03-15"
    },
    {
      "period": "2025-10-01",
      "regulatory_assets_under_management": 1461996538.0,
      "total_employees": 12,
      "filing_date": "2025-03-13"
    },
    {
      "period": "2026-10-01",
      "regulatory_assets_under_management": 1876936306.0,
      "total_employees": 11,
      "filing_date": "2026-03-10"
    }
  ],
  "recent_changes": [
    {
      "period": "2026-04-01",
      "period_label": "April 2026",
      "notes": [
        "Employees performing advisory functions went from 6 to 5.",
        "Regulatory assets under management went from $1,461,996,538 to $1,876,936,306 (+28%).",
        "Registered or notice-filed in GA."
      ]
    }
  ],
  "fees_from_brochure": {
    "source": "Form ADV Part 2A brochure dated March 10, 2026",
    "tiers": [],
    "flat_rate": null,
    "stated_range": null,
    "stated_maximum": null,
    "account_minimum": "$500,000",
    "account_minimum_may_be_waived": true,
    "minimum_annual_fee": null,
    "figures": [
      {
        "label": "Account minimum",
        "statements": [
          "Account minimum: $500,000 (the brochure says it may be waived or negotiated)"
        ],
        "quotes": [
          "The general minimum account size for management is $500,000. Exceptions are made based on investment client type, account size, relationship size, service requirements, and other factors."
        ]
      }
    ],
    "quotes": [
      "The general minimum account size for management is $500,000. Exceptions are made based on investment client type, account size, relationship size, service requirements, and other factors."
    ],
    "note": "As stated in the firm's brochure; fees can differ by service and may be negotiable."
  },
  "custodians": [
    {
      "name": "Charles Schwab & Co., Inc.",
      "name_as_filed": "CHARLES SCHWAB & CO., INC.",
      "affiliated": false
    }
  ],
  "custodians_note": "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.",
  "markdown_url": "https://advisorcensus.com/firm/klcm-advisors-inc-milwaukee-wi-107847.md",
  "clients": [
    {
      "type": "individuals",
      "label": "Individuals (other than high net worth individuals)",
      "count": 228,
      "fewer_than_5": false,
      "raum": 120777482.0
    },
    {
      "type": "high_net_worth_individuals",
      "label": "High net worth individuals",
      "count": 397,
      "fewer_than_5": false,
      "raum": 1656693259.0
    },
    {
      "type": "banking_thrift",
      "label": "Banking or thrift institutions",
      "count": 0,
      "fewer_than_5": false,
      "raum": 0.0
    },
    {
      "type": "investment_companies",
      "label": "Investment companies",
      "count": 0,
      "fewer_than_5": false,
      "raum": 0.0
    },
    {
      "type": "business_development_companies",
      "label": "Business development companies",
      "count": 0,
      "fewer_than_5": false,
      "raum": 0.0
    },
    {
      "type": "pooled_investment_vehicles",
      "label": "Pooled investment vehicles (other than investment companies and business development companies)",
      "count": 0,
      "fewer_than_5": false,
      "raum": 0.0
    },
    {
      "type": "pension_profit_sharing",
      "label": "Pension and profit sharing plans (but not the plan participants or government pension plans)",
      "count": 2,
      "fewer_than_5": true,
      "raum": 2569352.0
    },
    {
      "type": "charitable",
      "label": "Charitable organizations",
      "count": 1,
      "fewer_than_5": true,
      "raum": 938342.0
    },
    {
      "type": "state_municipal",
      "label": "State or municipal government entities (including government pension plans)",
      "count": 0,
      "fewer_than_5": false,
      "raum": 0.0
    },
    {
      "type": "other_investment_advisers",
      "label": "Other investment advisers",
      "count": 0,
      "fewer_than_5": false,
      "raum": 0.0
    },
    {
      "type": "insurance_companies",
      "label": "Insurance companies",
      "count": 0,
      "fewer_than_5": false,
      "raum": 0.0
    },
    {
      "type": "sovereign_wealth_foreign_official",
      "label": "Sovereign wealth funds and foreign official institutions",
      "count": 0,
      "fewer_than_5": false,
      "raum": 0.0
    },
    {
      "type": "corporations_other_businesses",
      "label": "Corporations or other businesses not listed above",
      "count": 7,
      "fewer_than_5": false,
      "raum": 74265388.0
    },
    {
      "type": "other",
      "label": "Other",
      "count": 2,
      "fewer_than_5": true,
      "raum": 21692483.0
    }
  ],
  "disclosure_line": "Reports no disclosure items on Form ADV Item 11.",
  "disclosure_items": [],
  "indexable": true,
  "suppressed": false,
  "claimed": false,
  "enhanced": false,
  "provided_by_the_firm": null,
  "source": {
    "name": "Form ADV",
    "as_of": "2026-10-01",
    "iapd_url": "https://adviserinfo.sec.gov/firm/summary/107847",
    "operator": "BH Monitor Services, LLC",
    "license": "https://creativecommons.org/licenses/by/4.0/",
    "credit": "AdvisorCensus (advisorcensus.com), from SEC Form ADV data"
  }
}