{
  "crd_number": 168771,
  "slug": "md-financial-advisors-vestment-financial-chanhassen-mn-168771",
  "primary_business_name": "MD FINANCIAL ADVISORS / VESTMENT FINANCIAL",
  "legal_name": "VESTMENT FINANCIAL LLC",
  "dbas": [],
  "city": "Chanhassen",
  "state": "MN",
  "country": "United States",
  "cbsa_code": "33460",
  "metro": {
    "cbsa_code": "33460",
    "common_name": "Minneapolis",
    "msa_name": "Minneapolis-St. Paul-Bloomington, MN-WI",
    "path": "/advisors/mn/minneapolis"
  },
  "registration_type": "sec",
  "registration_status": "Approved",
  "registration_date": "2019-06-18",
  "years_registered": 7,
  "period": "2026-10-01",
  "filing_date": "2026-09-02",
  "carried_forward": false,
  "raum_total": 304258801.0,
  "raum_discretionary": 304258801.0,
  "raum_non_discretionary": 0.0,
  "raum_band": "100m_500m",
  "raum_band_label": "$100 million to $500 million",
  "total_employees": 20,
  "advisory_employees": 11,
  "client_count_bucket": null,
  "clients_by_type": {
    "individuals": {
      "raum": 57422060.0,
      "count": 280
    },
    "high_net_worth_individuals": {
      "raum": 246836741.0,
      "count": 198
    }
  },
  "compensation_types": [
    "fixed",
    "hourly",
    "other",
    "percentage_of_aum"
  ],
  "advisory_activities": [
    "financial_planning",
    "pension_consulting",
    "portfolio_management_individuals"
  ],
  "wrap_fee_participant": false,
  "disclosure_yes_count": 0,
  "states_registered": [
    "AZ",
    "CA",
    "CO",
    "CT",
    "FL",
    "GA",
    "IL",
    "MA",
    "MD",
    "ME",
    "MI",
    "MN",
    "NC",
    "NE",
    "NH",
    "NJ",
    "NM",
    "NY",
    "OH",
    "PA",
    "RI",
    "TX",
    "WA"
  ],
  "websites": [
    "https://facebook.com/mdfinancialadvisors",
    "https://instagram.com/md_financial",
    "https://linkedin.com/company/md-financial-advisors",
    "https://md-financial-advisors-school.thinkific.com/courses/side-gigs-starter-course",
    "https://mdfinancialadvisors.com",
    "https://music.amazon.com/podcasts/f3cf9645-0692-45e5-b51a-bc04ea9ea398/money-minutes-for-doctors",
    "https://open.spotify.com/show/1frdil1cz3hm0vbdbsb8uz?dlsi=edbeb3ab57d64711&nd=1&si=3kbfqy1zqxkxeyxiy5ci2q",
    "https://podcasts.apple.com/us/podcast/money-minutes-for-doctors/id1396041737",
    "https://x.com/md_financial",
    "https://youtube.com/@mdfinancial1759"
  ],
  "iapd_url": "https://adviserinfo.sec.gov/firm/summary/168771",
  "city_as_filed": "CHANHASSEN",
  "url": "https://advisorcensus.com/firm/md-financial-advisors-vestment-financial-chanhassen-mn-168771",
  "display_name": "MD Financial Advisors / Vestment Financial",
  "summary": "MD Financial Advisors / Vestment Financial is an SEC-registered investment advisory firm in Chanhassen, MN, registered since 2019, reporting $100 million to $500 million in regulatory assets under management in its Form ADV filing dated September 2, 2026.",
  "citation": "AdvisorCensus. MD Financial Advisors / Vestment Financial (CRD 168771): Form ADV filing data as of October 2026.",
  "registration_type_label": "SEC-registered investment adviser",
  "compensation_labels": [
    "A percentage of assets under your management",
    "Hourly charges",
    "Fixed fees (other than subscription fees)",
    "Other"
  ],
  "advisory_activity_labels": [
    "Financial planning services",
    "Portfolio management for individuals and/or small businesses",
    "Pension consulting services"
  ],
  "quick_answers": [
    {
      "q": "How is MD Financial Advisors / Vestment Financial compensated?",
      "a": "On its Form ADV (Item 5.E, October 2026), MD Financial Advisors / Vestment Financial reports these compensation arrangements: a percentage of assets under its management; hourly charges; fixed fees (other than subscription fees); other."
    },
    {
      "q": "How much does MD Financial Advisors / Vestment Financial charge?",
      "a": "Its Form ADV Part 2A brochure dated March 27, 2026 states: Flat fee: up to $25,000 (Financial Planning and Consulting); Hourly rate: $50 to $650 an hour (Financial Planning and Consulting); Subscription: $190 to $600 a month (concierge financial planning). Fees can differ by service and may be negotiable; the brochure is the complete statement."
    },
    {
      "q": "Where is MD Financial Advisors / Vestment Financial located?",
      "a": "MD Financial Advisors / Vestment Financial's principal office is in Chanhassen, MN, according to its Form ADV; the October 2026 filing also lists 1 other office (Schedule D, Section 1.F)."
    },
    {
      "q": "Is MD Financial Advisors / Vestment Financial registered with the SEC or a state?",
      "a": "MD Financial Advisors / Vestment Financial is an SEC-registered investment advisory firm, registered since 2019. Status as filed: Approved. CRD 168771."
    },
    {
      "q": "How much does MD Financial Advisors / Vestment Financial manage?",
      "a": "MD Financial Advisors / Vestment Financial reports $304,258,801 in regulatory assets under management in its Form ADV filing dated September 2, 2026 (100% discretionary)."
    },
    {
      "q": "How have MD Financial Advisors / Vestment Financial's assets and staff changed since 2021?",
      "a": "In the Form ADV data for MD Financial Advisors / Vestment Financial: Regulatory assets under management: $120,953,555 in the October 2021 data and $304,258,801 in the October 2026 data, up 152%. Total employees: 10 in October 2021 and 20 in October 2026. Assets under management move with markets as well as with clients coming and going."
    },
    {
      "q": "What types of clients does MD Financial Advisors / Vestment Financial serve?",
      "a": "By number of clients on Form ADV Item 5.D: individuals (other than high net worth individuals) (280); high net worth individuals (198)."
    },
    {
      "q": "Which custodians does MD Financial Advisors / Vestment Financial use?",
      "a": "MD Financial Advisors / Vestment Financial'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 MD Financial Advisors / Vestment Financial 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/168771"
    },
    {
      "q": "Does MD Financial Advisors / Vestment Financial state an account minimum?",
      "a": "Its Form ADV Part 2A brochure dated March 27, 2026 says: \"We have no minimum account size.\""
    },
    {
      "q": "What changed in MD Financial Advisors / Vestment Financial's recent Form ADV filings?",
      "a": "In the October 2026 filing data: Registered or notice-filed in CO."
    }
  ],
  "filing_history": [
    {
      "period": "2021-10-01",
      "regulatory_assets_under_management": 120953555.0,
      "total_employees": 10,
      "filing_date": "2021-07-28"
    },
    {
      "period": "2022-10-01",
      "regulatory_assets_under_management": 152390327.0,
      "total_employees": 10,
      "filing_date": "2022-08-02"
    },
    {
      "period": "2023-10-01",
      "regulatory_assets_under_management": 163746798.0,
      "total_employees": 9,
      "filing_date": "2023-03-26"
    },
    {
      "period": "2024-10-01",
      "regulatory_assets_under_management": 213412385.0,
      "total_employees": 9,
      "filing_date": "2024-08-20"
    },
    {
      "period": "2025-10-01",
      "regulatory_assets_under_management": 243201465.0,
      "total_employees": 21,
      "filing_date": "2025-07-31"
    },
    {
      "period": "2026-10-01",
      "regulatory_assets_under_management": 304258801.0,
      "total_employees": 20,
      "filing_date": "2026-09-02"
    }
  ],
  "recent_changes": [
    {
      "period": "2026-10-01",
      "period_label": "October 2026",
      "notes": [
        "Registered or notice-filed in CO."
      ]
    },
    {
      "period": "2026-07-01",
      "period_label": "July 2026",
      "notes": [
        "Updated its list of owners and control persons (Schedule A)."
      ]
    },
    {
      "period": "2026-06-01",
      "period_label": "June 2026",
      "notes": [
        "No longer lists an office in Hopkins, MN."
      ]
    },
    {
      "period": "2026-05-01",
      "period_label": "May 2026",
      "notes": [
        "Registered or notice-filed in MI."
      ]
    },
    {
      "period": "2026-04-01",
      "period_label": "April 2026",
      "notes": [
        "Regulatory assets under management went from $243,201,465 to $304,258,801 (+25%).",
        "Added an office in Hopkins, MN.",
        "Added an office in Minnetonka, MN."
      ]
    },
    {
      "period": "2026-01-01",
      "period_label": "January 2026",
      "notes": [
        "No longer registered or notice-filed in LA, MI, SC, VT, WI."
      ]
    }
  ],
  "fees_from_brochure": {
    "source": "Form ADV Part 2A brochure dated March 27, 2026",
    "provided_by_the_firm": false,
    "tiers": [],
    "flat_rate": null,
    "stated_range": null,
    "stated_maximum": null,
    "account_minimum": "None",
    "account_minimum_may_be_waived": false,
    "minimum_annual_fee": null,
    "planning_fees": [
      "Flat fee: up to $25,000 (Financial Planning and Consulting)",
      "Hourly rate: $50 to $650 an hour (Financial Planning and Consulting)",
      "Subscription: $190 to $600 a month (concierge financial planning)"
    ],
    "figures": [
      {
        "label": "Account minimum",
        "statements": [
          "Account minimum: None"
        ],
        "quotes": [
          "We have no minimum account size."
        ]
      },
      {
        "label": "Planning fee",
        "statements": [
          "Flat fee: up to $25,000 (Financial Planning and Consulting)"
        ],
        "quotes": [
          "As a fixed fee, typically ranging up to $25,000 depending on the nature and complexity of each client’s circumstances"
        ]
      },
      {
        "label": "Planning fee",
        "statements": [
          "Hourly rate: $50 to $650 an hour (Financial Planning and Consulting)"
        ],
        "quotes": [
          "On an hourly basis of $50 - $650 per hour dependent upon the skill level of the team member involved"
        ]
      },
      {
        "label": "Planning fee",
        "statements": [
          "Subscription: $190 to $600 a month (concierge financial planning)"
        ],
        "quotes": [
          "A monthly subscription or concierge financial planning fee, which typically ranges from $190 to $600 per month depending on the complexity of the client’s situation."
        ]
      }
    ],
    "values": {
      "tiers": [],
      "range_pct": null,
      "max_pct": null,
      "account_minimum": 0.0,
      "minimum_annual_fee": null,
      "planning": [
        {
          "kind": "flat",
          "amount": null,
          "min": null,
          "max": 25000.0,
          "period": "one_time",
          "service": "Financial Planning and Consulting"
        },
        {
          "kind": "hourly",
          "amount": null,
          "min": 50.0,
          "max": 650.0,
          "period": "hour",
          "service": "Financial Planning and Consulting"
        },
        {
          "kind": "subscription",
          "amount": null,
          "min": 190.0,
          "max": 600.0,
          "period": "monthly",
          "service": "concierge financial planning"
        }
      ]
    },
    "quotes": [
      "We have no minimum account size.",
      "As a fixed fee, typically ranging up to $25,000 depending on the nature and complexity of each client’s circumstances",
      "On an hourly basis of $50 - $650 per hour dependent upon the skill level of the team member involved",
      "A monthly subscription or concierge financial planning fee, which typically ranges from $190 to $600 per month depending on the complexity of the client’s situation."
    ],
    "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/md-financial-advisors-vestment-financial-chanhassen-mn-168771.md",
  "clients": [
    {
      "type": "individuals",
      "label": "Individuals (other than high net worth individuals)",
      "count": 280,
      "fewer_than_5": false,
      "raum": 57422060.0
    },
    {
      "type": "high_net_worth_individuals",
      "label": "High net worth individuals",
      "count": 198,
      "fewer_than_5": false,
      "raum": 246836741.0
    }
  ],
  "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/168771",
    "operator": "BH Monitor Services, LLC",
    "license": "https://creativecommons.org/licenses/by/4.0/",
    "credit": "AdvisorCensus (advisorcensus.com), from SEC Form ADV data"
  }
}