# Northland Capital Management

> Northland Capital Management is an SEC-registered investment advisory firm in Virginia, MN, registered since 2020, reporting $100 million to $500 million in regulatory assets under management in its Form ADV filing dated July 16, 2026.

- CRD: 146452
- Filed as: NORTHLAND CAPITAL MANAGEMENT
- Legal name: Northland Capital Management, LLC
- Registration: SEC-registered investment adviser (status as filed: Approved)
- Location: Virginia, MN
- Filing period: October 2026
- Form ADV filing dated: July 16, 2026
- SEC record (IAPD): https://adviserinfo.sec.gov/firm/summary/146452
- AdvisorCensus page: https://advisorcensus.com/firm/northland-capital-management-virginia-mn-146452

## Quick answers

**How is Northland Capital Management compensated?**
On its Form ADV (Item 5.E, October 2026), Northland Capital Management reports these compensation arrangements: a percentage of assets under its management; hourly charges.

**How much does Northland Capital Management charge?**
Its Form ADV Part 2A brochure dated July 16, 2026 states: Hourly rate: $100 an hour (ad hoc services such as limited investment advisory services and limited…). Fees can differ by service and may be negotiable; the brochure is the complete statement.

**Where is Northland Capital Management located?**
Northland Capital Management's principal office is in Virginia, MN, according to its Form ADV; the August 2026 filing also lists 1 other office (Schedule D, Section 1.F).

**Is Northland Capital Management registered with the SEC or a state?**
Northland Capital Management is an SEC-registered investment advisory firm, registered since 2020. Status as filed: Approved. CRD 146452.

**How much does Northland Capital Management manage?**
Northland Capital Management reports $234,953,770 in regulatory assets under management in its Form ADV filing dated July 16, 2026 (100% discretionary).

**How have Northland Capital Management's assets and staff changed since 2021?**
In the Form ADV data for Northland Capital Management: Regulatory assets under management: $147,912,550 in the October 2021 data and $234,953,770 in the October 2026 data, up 59%. Total employees: 6 in October 2021 and 6 in October 2026. Assets under management move with markets as well as with clients coming and going.

**What types of clients does Northland Capital Management serve?**
By number of clients on Form ADV Item 5.D: individuals (other than high net worth individuals) (196); high net worth individuals (85); state or municipal government entities (including government pension plans) (2).

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

**Does Northland Capital Management 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/146452

**What changed in Northland Capital Management's recent Form ADV filings?**
In the March 2026 filing data: Regulatory assets under management went from $196,284,350 to $234,953,770 (+20%).

## From the Form ADV filing

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

### Fees and minimums (Form ADV Part 2A brochure dated July 16, 2026)

- Hourly rate: $100 an hour (ad hoc services such as limited investment advisory services and limited…)

> For discretionary portfolio management clients, we also charge an hourly fee for extraordinary financial planning services. Our fee for these services is $100 per hour.

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

### Custodians (Schedule D, Section 5.K(3))
- 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: $234,953,770
- Discretionary: $234,953,770
- Non-discretionary: $0

### Clients (Item 5.D)

| Client type | Clients | Assets |
| --- | --- | --- |
| Individuals (other than high net worth individuals) | 196 | $99,480,910 |
| High net worth individuals | 85 | $133,969,910 |
| State or municipal government entities (including government pension plans) | 2 | $1,502,950 |

### Advisory services (Item 5.G)
- Financial planning services
- Portfolio management for individuals and/or small businesses

### Firm details
- Registered since: 2020 (6 years)
- Employees: 6 total, 3 performing advisory functions
- Wrap fee program participation: No
- States registered or notice-filed: AZ, MN, NE, WI
- Disclosures (Item 11): Reports no disclosure items on Form ADV Item 11.

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

### Websites listed on Form ADV (Item 1.I)
- [northlandcap.com](https://northlandcap.com)

## Assets and staff over time

| Data period | Regulatory assets under management | Employees | Filing dated |
| --- | --- | --- | --- |
| October 2021 | $147,912,550 | 6 | September 19, 2021 |
| October 2022 | $151,883,044 | 6 | March 30, 2022 |
| October 2023 | $155,398,970 | 6 | October 4, 2023 |
| October 2024 | $174,133,748 | 6 | March 21, 2024 |
| October 2025 | $196,284,350 | 6 | March 3, 2025 |
| October 2026 | $234,953,770 | 6 | July 16, 2026 |

Regulatory assets under management: $147,912,550 in the October 2021 data and $234,953,770 in the October 2026 data, up 59%.
Total employees: 6 in October 2021 and 6 in October 2026.

## Changes in the filing (last 12 months)

### March 2026
- Regulatory assets under management went from $196,284,350 to $234,953,770 (+20%).

## Source

Form ADV as filed, October 2026. Values appear as filed. Cite as: AdvisorCensus. Northland Capital Management (CRD 146452): Form ADV filing data as of October 2026.