# Truenorth Wealth

> Truenorth Wealth is an SEC-registered investment advisory firm in Salt Lake City, UT, registered since 2007, reporting $1 billion to $5 billion in regulatory assets under management in its Form ADV filing dated August 22, 2026.

- CRD: 142205
- Filed as: TRUENORTH WEALTH
- Legal name: Association Financial Services Inc.
- Also doing business as: ASSOCIATION FINANCIAL SERVICES, IDAHO MEDICAL ASSOCIATION FINANCIAL SERVICES, TRUENORTH RETIREMENT SERVICES, TRUENORTH WEALTH
- Registration: SEC-registered investment adviser (status as filed: Approved)
- Location: Salt Lake City, UT
- Filing period: October 2026
- Form ADV filing dated: August 22, 2026
- SEC record (IAPD): https://adviserinfo.sec.gov/firm/summary/142205
- AdvisorCensus page: https://advisorcensus.com/firm/truenorth-wealth-salt-lake-city-ut-142205

## Quick answers

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

**Where is Truenorth Wealth located?**
Truenorth Wealth's principal office is in Salt Lake City, UT, according to its Form ADV; the September 2026 filing also lists 3 other offices (Schedule D, Section 1.F).

**Is Truenorth Wealth registered with the SEC or a state?**
Truenorth Wealth is an SEC-registered investment advisory firm, registered since 2007. Status as filed: Approved. CRD 142205.

**How much does Truenorth Wealth manage?**
Truenorth Wealth reports $1,265,596,116 in regulatory assets under management in its Form ADV filing dated August 22, 2026 (12% discretionary).

**How have Truenorth Wealth's assets and staff changed since 2021?**
In the Form ADV data for Truenorth Wealth: Regulatory assets under management: $493,363,966 in the October 2021 data and $1,265,596,116 in the October 2026 data, up 157%. Total employees: 13 in October 2021 and 19 in October 2026. Assets under management move with markets as well as with clients coming and going.

**What types of clients does Truenorth Wealth serve?**
By number of clients on Form ADV Item 5.D: individuals (other than high net worth individuals) (584); high net worth individuals (259); other (121).

**Which custodians does Truenorth Wealth use?**
Truenorth Wealth's most recent Form ADV filing (Schedule D, Section 5.K(3)) lists SEI Investments Distribution Co. as a custodian holding 10% or more of its separately managed account assets.

**Does Truenorth Wealth 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/142205

**What changed in Truenorth Wealth's recent Form ADV filings?**
In the April 2026 filing data: Employees performing advisory functions went from 7 to 10. Regulatory assets under management went from $1,074,482,158 to $1,265,596,116 (+18%). Added an office in Salt Lake City, UT.

## From the Form ADV filing

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

### Custodians (Schedule D, Section 5.K(3))
- SEI Investments Distribution Co.

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: $1,265,596,116
- Discretionary: $146,115,682
- Non-discretionary: $1,119,480,434

### Clients (Item 5.D)

| Client type | Clients | Assets |
| --- | --- | --- |
| Individuals (other than high net worth individuals) | 584 | $201,038,425 |
| High net worth individuals | 259 | $857,858,354 |
| 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 | 11 | $5,700,937 |
| 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 | 0 | $0 |
| Other | 121 | $200,998,400 |

### 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
- Publication of periodicals or newsletters
- Educational seminars/workshops

### Firm details
- Registered since: 2007 (18 years)
- Employees: 19 total, 10 performing advisory functions
- Wrap fee program participation: Yes
- States registered or notice-filed: AZ, CA, CO, CT, ID, NE, OR, TX, UT, WA
- 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
- Boise, ID
- Salt Lake City, UT
- St. George, UT

### Websites listed on Form ADV (Item 1.I)
- imafs.org
- tnrs.com
- truenorthretire.com
- truenorthwealth.com
- Facebook @IMAFINANCIALSERVICES
- Facebook @TRUENORTHRETIRE
- Facebook @TRUENORTHWEALTH
- LinkedIn @idaho-financial-services
- LinkedIn @truenorth-wealth
- LinkedIn @truenorthretire

## Assets and staff over time

| Data period | Regulatory assets under management | Employees | Filing dated |
| --- | --- | --- | --- |
| October 2021 | $493,363,966 | 13 | April 12, 2021 |
| October 2022 | $652,633,504 | 19 | March 23, 2022 |
| October 2023 | $879,942,760 | 17 | June 22, 2023 |
| October 2024 | $1,017,412,752 | 17 | March 19, 2024 |
| October 2025 | $1,074,482,158 | 17 | March 23, 2025 |
| October 2026 | $1,265,596,116 | 19 | August 22, 2026 |

Regulatory assets under management: $493,363,966 in the October 2021 data and $1,265,596,116 in the October 2026 data, up 157%.
Total employees: 13 in October 2021 and 19 in October 2026.

## Changes in the filing (last 12 months)

### April 2026
- Employees performing advisory functions went from 7 to 10.
- Regulatory assets under management went from $1,074,482,158 to $1,265,596,116 (+18%).
- Added an office in Salt Lake City, UT.

## Source

Form ADV as filed, October 2026. Values appear as filed. Cite as: AdvisorCensus. Truenorth Wealth (CRD 142205): Form ADV filing data as of October 2026.