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Meristem LLC (Minnetonka)


Meristem LLC is a large advisory firm based in Minnetonka. It manages $2.34 billion of regulatory assets for 323 client accounts. It has been registered with the SEC as an adviser since 2017 and has operated in the jurisdictions of Arizona, California, Colorado, and 12 other states.

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Meristem provides financial planning services, portfolio management for individuals and small businesses, portfolio management for pooled investment vehicles, portfolio management for businesses and institutional clients, selection of other advisers, and wealth transfer planning. It prepares financial plans for more than 250 clients. On top of advisory services, the firm doesn't engage in other business activities.

Meristem: assets under management

The assets under management (AUM) of Meristem LLC is $2.34 billion. The firm's AUM has grown by 0% since the beginning of its operation, and the company doesn't manage any assets belonging to foreign clients.


The firm manages $933.36 million in discretionary accounts and $1.4 billion in non-discretionary accounts. On average, the discretionary accounts where all decisions are made on behalf of the client hold $5.66 million each. Non-discretionary accounts, where clients actively manage their portfolios, generally hold around $8.89 million.
Meristem has custody of $347.62 million in cash and securities for 81 clients in total but doesn’t act as a qualified custodian.

Fees & Commissions

The advisory firm has several streams of revenue. Clients pay Meristem LLC for their services and products based on a percentage of assets under management, fixed fees, and commissions. Commissions are paid and earned by the adviser when a trade or a sales of an investment is made. These fees don’t include brokerage commissions, interest, taxes, and other account expenses.

Indirect Owners

The SEC currently registers 3 indirect owners.

Name Entity Date acquired Ownership Employer ID
Richard Rev Tr Schulze Member, class 2 1 Nov 2016 25% - 50% 6728507
Kevin Bergman Member, class 3 1 Nov 2016 Other 6728509
Michael David Benson Member, class 1 1 Nov 2016 25% - 50% 1058651

Based in Minnetonka

The principal office where Meristem LLC performs its advisory services is located at 601 Carlson Parkway, Minnetonka, MN 55305, which is also the mailing address of the firm. An additional office of the firm is in Scottsdale, AZ. It doesn’t run an office outside of the United States.

You can reach the main office by calling the phone number 952-835-2577 or by fax 952-835-8283. The normal business hours are 8am-5pm on Monday - Friday. You can find more information about the New York firm at meristemfw.com.


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