# MHS Advisory Services, LLC

> MHS Advisory Services, LLC is an SEC-registered investment advisory firm in Maple Grove, MN, registered since 2015, reporting $100 million to $500 million in regulatory assets under management in its Form ADV filing dated August 19, 2026.

- CRD: 174590
- Filed as: MHS ADVISORY SERVICES, LLC
- Registration: SEC-registered investment adviser (status as filed: Approved)
- Location: Maple Grove, MN
- Filing period: October 2026
- Form ADV filing dated: August 19, 2026
- SEC record (IAPD): https://adviserinfo.sec.gov/firm/summary/174590
- AdvisorCensus page: https://advisorcensus.com/firm/mhs-advisory-services-llc-maple-grove-mn-174590

## Quick answers

**How is MHS Advisory Services, LLC compensated?**
On its Form ADV (Item 5.E, October 2026), MHS Advisory Services, LLC reports these compensation arrangements: a percentage of assets under its management; hourly charges; fixed fees (other than subscription fees); other.

**Where is MHS Advisory Services, LLC located?**
MHS Advisory Services, LLC's principal office is in Maple Grove, MN, according to its Form ADV; the September 2026 filing also lists 1 other office (Schedule D, Section 1.F).

**Is MHS Advisory Services, LLC registered with the SEC or a state?**
MHS Advisory Services, LLC is an SEC-registered investment advisory firm, registered since 2015. Status as filed: Approved. CRD 174590.

**How much does MHS Advisory Services, LLC manage?**
MHS Advisory Services, LLC reports $253,334,435 in regulatory assets under management in its Form ADV filing dated August 19, 2026 (68% discretionary).

**How have MHS Advisory Services, LLC's assets and staff changed since 2021?**
In the Form ADV data for MHS Advisory Services, LLC: Regulatory assets under management: $179,465,665 in the October 2021 data and $253,334,435 in the October 2026 data, up 41%. Total employees: 7 in October 2021 and 7 in October 2026. Assets under management move with markets as well as with clients coming and going.

**What types of clients does MHS Advisory Services, LLC serve?**
By number of clients on Form ADV Item 5.D: individuals (other than high net worth individuals) (240); high net worth individuals (70); charitable organizations (2).

**Which custodians does MHS Advisory Services, LLC use?**
MHS Advisory Services, LLC's most recent Form ADV filing (Schedule D, Section 5.K(3)) lists Fidelity Brokerage Services LLC and Pershing Advisor Solutions LLC as custodians holding 10% or more of its separately managed account assets.

**Does MHS Advisory Services, 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/174590

## From the Form ADV filing

### Compensation (Item 5.E)
- A percentage of assets under your management
- Hourly charges
- Fixed fees (other than subscription fees)
- Other

### Custodians (Schedule D, Section 5.K(3))
- Fidelity Brokerage Services LLC
- Pershing Advisor Solutions 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: $253,334,435
- Discretionary: $173,014,300
- Non-discretionary: $80,320,135

### Clients (Item 5.D)

| Client type | Clients | Assets |
| --- | --- | --- |
| Individuals (other than high net worth individuals) | 240 | $105,189,463 |
| High net worth individuals | 70 | $147,562,085 |
| 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 | 2 | $303,475 |
| 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 | 1 | $279,412 |
| Other | 0 | $0 |

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

### Firm details
- Registered since: 2015 (11 years)
- Employees: 7 total, 7 performing advisory functions
- Wrap fee program participation: No
- States registered or notice-filed: CA, MN, TX
- Disclosures (Item 11): Reports no disclosure items on Form ADV Item 11.

### Other offices (Schedule D, Section 1.F), as of the September 2026 filing
- Minnetonka, MN

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

## Assets and staff over time

| Data period | Regulatory assets under management | Employees | Filing dated |
| --- | --- | --- | --- |
| October 2021 | $179,465,665 | 7 | March 9, 2021 |
| October 2022 | $203,187,092 | 6 | April 5, 2022 |
| October 2023 | $177,633,992 | 6 | March 7, 2023 |
| October 2024 | $205,164,356 | 6 | March 7, 2024 |
| October 2025 | $238,486,167 | 7 | July 21, 2025 |
| October 2026 | $253,334,435 | 7 | August 19, 2026 |

Regulatory assets under management: $179,465,665 in the October 2021 data and $253,334,435 in the October 2026 data, up 41%.
Total employees: 7 in October 2021 and 7 in October 2026.

## Source

Form ADV as filed, October 2026. Values appear as filed. Cite as: AdvisorCensus. MHS Advisory Services, LLC (CRD 174590): Form ADV filing data as of October 2026.