{
  "crd_number": 308193,
  "slug": "pine-grove-financial-group-woodbury-mn-308193",
  "primary_business_name": "PINE GROVE FINANCIAL GROUP",
  "legal_name": "MLG WEALTH MANAGEMENT, INC.",
  "dbas": [],
  "city": "Woodbury",
  "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": "2020-06-05",
  "years_registered": 6,
  "period": "2026-10-01",
  "filing_date": "2026-05-19",
  "carried_forward": false,
  "raum_total": 1491320609.0,
  "raum_discretionary": 1491320609.0,
  "raum_non_discretionary": 0.0,
  "raum_band": "1b_5b",
  "raum_band_label": "$1 billion to $5 billion",
  "total_employees": 24,
  "advisory_employees": 14,
  "client_count_bucket": null,
  "clients_by_type": {
    "other": {
      "raum": 0.0,
      "count": 0
    },
    "charitable": {
      "raum": 0.0,
      "count": 0
    },
    "individuals": {
      "raum": 379553812.0,
      "count": 898
    },
    "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": 0.0,
      "count": 0
    },
    "other_investment_advisers": {
      "raum": 0.0,
      "count": 0
    },
    "high_net_worth_individuals": {
      "raum": 1111766797.0,
      "count": 506
    },
    "pooled_investment_vehicles": {
      "raum": 0.0,
      "count": 0
    },
    "corporations_other_businesses": {
      "raum": 0.0,
      "count": 0
    },
    "business_development_companies": {
      "raum": 0.0,
      "count": 0
    },
    "sovereign_wealth_foreign_official": {
      "raum": 0.0,
      "count": 0
    }
  },
  "compensation_types": [
    "fixed",
    "other",
    "percentage_of_aum"
  ],
  "advisory_activities": [
    "educational_seminars",
    "financial_planning",
    "portfolio_management_individuals",
    "selection_of_other_advisers"
  ],
  "wrap_fee_participant": false,
  "disclosure_yes_count": 0,
  "states_registered": [
    "AZ",
    "CA",
    "CO",
    "FL",
    "IA",
    "IL",
    "LA",
    "MD",
    "MN",
    "NC",
    "NE",
    "OH",
    "PA",
    "SC",
    "TX",
    "WA",
    "WI"
  ],
  "websites": [
    "https://linkedin.com/company/pine-grove-financial-group",
    "https://pinegrovefg.com"
  ],
  "iapd_url": "https://adviserinfo.sec.gov/firm/summary/308193",
  "city_as_filed": "WOODBURY",
  "url": "https://advisorcensus.com/firm/pine-grove-financial-group-woodbury-mn-308193",
  "display_name": "Pine Grove Financial Group",
  "summary": "Pine Grove Financial Group is an SEC-registered investment advisory firm in Woodbury, MN, registered since 2020, reporting $1 billion to $5 billion in regulatory assets under management in its Form ADV filing dated May 19, 2026.",
  "citation": "AdvisorCensus. Pine Grove Financial Group (CRD 308193): 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)",
    "Other"
  ],
  "advisory_activity_labels": [
    "Financial planning services",
    "Portfolio management for individuals and/or small businesses",
    "Selection of other advisers (including private fund managers)",
    "Educational seminars/workshops"
  ],
  "quick_answers": [
    {
      "q": "How is Pine Grove Financial Group compensated?",
      "a": "On its Form ADV (Item 5.E, October 2026), Pine Grove Financial Group reports these compensation arrangements: a percentage of assets under its management; fixed fees (other than subscription fees); other. The amounts are in Item 5 of its Form ADV Part 2A brochure."
    },
    {
      "q": "Where is Pine Grove Financial Group located?",
      "a": "Pine Grove Financial Group's principal office is in Woodbury, MN, according to its Form ADV; the June 2026 filing also lists 3 other offices (Schedule D, Section 1.F)."
    },
    {
      "q": "Is Pine Grove Financial Group registered with the SEC or a state?",
      "a": "Pine Grove Financial Group is an SEC-registered investment advisory firm, registered since 2020. Status as filed: Approved. CRD 308193."
    },
    {
      "q": "How much does Pine Grove Financial Group manage?",
      "a": "Pine Grove Financial Group reports $1,491,320,609 in regulatory assets under management in its Form ADV filing dated May 19, 2026 (100% discretionary)."
    },
    {
      "q": "How have Pine Grove Financial Group's assets and staff changed since 2021?",
      "a": "In the Form ADV data for Pine Grove Financial Group: Regulatory assets under management: $507,165,135 in the October 2021 data and $1,491,320,609 in the October 2026 data, up 194%. Total employees: 11 in October 2021 and 24 in October 2026. Assets under management move with markets as well as with clients coming and going."
    },
    {
      "q": "What types of clients does Pine Grove Financial Group serve?",
      "a": "By number of clients on Form ADV Item 5.D: individuals (other than high net worth individuals) (898); high net worth individuals (506)."
    },
    {
      "q": "Which custodians does Pine Grove Financial Group use?",
      "a": "Pine Grove Financial Group'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 Pine Grove Financial Group 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/308193"
    },
    {
      "q": "What changed in Pine Grove Financial Group's recent Form ADV filings?",
      "a": "In the April 2026 filing data: Employees performing advisory functions went from 15 to 14."
    }
  ],
  "filing_history": [
    {
      "period": "2021-10-01",
      "regulatory_assets_under_management": 507165135.0,
      "total_employees": 11,
      "filing_date": "2021-09-21"
    },
    {
      "period": "2022-10-01",
      "regulatory_assets_under_management": 626206273.0,
      "total_employees": 10,
      "filing_date": "2022-03-16"
    },
    {
      "period": "2023-10-01",
      "regulatory_assets_under_management": 699796326.0,
      "total_employees": 10,
      "filing_date": "2023-05-16"
    },
    {
      "period": "2024-10-01",
      "regulatory_assets_under_management": 1027139612.0,
      "total_employees": 20,
      "filing_date": "2024-03-04"
    },
    {
      "period": "2025-10-01",
      "regulatory_assets_under_management": 1247926037.0,
      "total_employees": 21,
      "filing_date": "2025-02-12"
    },
    {
      "period": "2026-10-01",
      "regulatory_assets_under_management": 1491320609.0,
      "total_employees": 24,
      "filing_date": "2026-05-19"
    }
  ],
  "recent_changes": [
    {
      "period": "2026-04-01",
      "period_label": "April 2026",
      "notes": [
        "Employees performing advisory functions went from 15 to 14."
      ]
    },
    {
      "period": "2026-01-01",
      "period_label": "January 2026",
      "notes": [
        "No longer lists the business name Kadence Wealth.",
        "No longer lists the business name Gray Pines Wealth Management.",
        "Employees performing advisory functions went from 13 to 15.",
        "Regulatory assets under management went from $1,247,926,037 to $1,478,459,615 (+18%).",
        "Changed its office addresses in Apple Valley, MN.",
        "Registered or notice-filed in AZ, CA, CO, FL, IA, IL, MD, NC, OH, PA, SC, WA, WI."
      ]
    }
  ],
  "fees_from_brochure": null,
  "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/pine-grove-financial-group-woodbury-mn-308193.md",
  "clients": [
    {
      "type": "individuals",
      "label": "Individuals (other than high net worth individuals)",
      "count": 898,
      "fewer_than_5": false,
      "raum": 379553812.0
    },
    {
      "type": "high_net_worth_individuals",
      "label": "High net worth individuals",
      "count": 506,
      "fewer_than_5": false,
      "raum": 1111766797.0
    },
    {
      "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": 0,
      "fewer_than_5": false,
      "raum": 0.0
    },
    {
      "type": "charitable",
      "label": "Charitable organizations",
      "count": 0,
      "fewer_than_5": false,
      "raum": 0.0
    },
    {
      "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": 0,
      "fewer_than_5": false,
      "raum": 0.0
    },
    {
      "type": "other",
      "label": "Other",
      "count": 0,
      "fewer_than_5": false,
      "raum": 0.0
    }
  ],
  "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/308193",
    "operator": "BH Monitor Services, LLC",
    "license": "https://creativecommons.org/licenses/by/4.0/",
    "credit": "AdvisorCensus (advisorcensus.com), from SEC Form ADV data"
  }
}