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Investment advisers in Montana: 27 firms, $63.7 billion in AUM

27 investment advisers have their main office in Montana: 24 SEC registered and 3 exempt reporting. The registered advisers report $63.7 billion in regulatory assets under management in the SEC's Form ADV file of November 2, 2026, and the largest is D.A. Davidson & Co. with $41.8 billion.

SpecStream is the live web data engine for teams and agents. It reads the SEC's Form ADV files every month, and this page is that reading, keyed on the CRD number. Ask for the advisers you track by state, city, size, client type or private funds, and new registrations and filings arrive in your sheet, CRM, Slack or agent as the SEC publishes them.

Get advisers in Montana over $100 millionWatch new advisers in MontanaGet private fund advisers in Montana
  • 27Advisers
  • 24SEC registered
  • 3Exempt reporting
  • $63.7 billionTotal AUM
  • 21Advisers over $100 million
  • 4Manage private funds
  • November 2, 2026File date

Largest advisers by AUM

Ranked by regulatory AUM, then by private funds. Each row links to the firm page where it has one, and to its SEC record.

AdviserCityAUMAccountsEmployeesPrivate fundsPhoneWebsiteSource
D.A. Davidson & Co.Great Falls$41.84 billion92,146990Not listed(406) 727-4200adviserinfo.sec.gov
Investment Management GroupBillings$5.24 billion3,09830Not listed(406) 655-3960adviserinfo.sec.gov
Davidson Investment Advisors, Inc.Great Falls$5.20 billion4,40731Not listed(406) 727-6111caprinbonds.comadviserinfo.sec.gov
Stack Financial Management IncWhitefish$1.99 billion1,52414Not listed(406) 862-8000adviserinfo.sec.gov
Bitterroot Capital Advisors LLCBozeman$1.78 billion157Not listed(406) 556-8200bitterrootcapital.comadviserinfo.sec.gov
Allied Investment Advisors LLCBillings$1.49 billion2,41112Not listed(406) 839-2037adviserinfo.sec.gov
Xypn SapphireBozeman$1.25 billion4,26269Not listed(360) 301-7579equiplanning.comadviserinfo.sec.gov
Front Street Capital Management, Inc.Missoula$862 million1,2076Not listed(406) 541-0130frontstreetcap.comadviserinfo.sec.gov
Destra Capital Advisors LLCBozeman$463.8 million212Not listed(877) 855-3434destracapital.comadviserinfo.sec.gov
Main Line Retirement Advisors, LLCWhitefish$448.6 million6793Not listed(800) 480-8681adviserinfo.sec.gov
SGL Investment Advisors, Inc.Missoula$440.3 million1,5337Not listed(406) 721-0999sglinvestmentadvisors.comadviserinfo.sec.gov
Evergreen Wealth Partners LLCKalispell$405.2 million1,7929Not listed(406) 862-4400willamettewealth.comadviserinfo.sec.gov
Capstone WealthBillings$354.3 million5088Not listed(406) 325-1500capstoneretire.comadviserinfo.sec.gov
Professional Financial Management, Inc.Bozeman$304.1 million6922Not listed(406) 587-1604adviserinfo.sec.gov
Willow Creek Capital Management, Inc.Missoula$280 million4314Not listed(406) 830-3286raymondjames.comadviserinfo.sec.gov
Cladis Investment Advisory LLCBillings$242.6 million2743Not listed(406) 259-4939adviserinfo.sec.gov
Piedmont Capital Management, LLCWhitefish$231.8 million1,1723Not listed(406) 862-9400adviserinfo.sec.gov
DFC Preferred Advisors LLCBozeman$228.7 million13Not listed(877) 855-3434adviserinfo.sec.gov
Life Planning Advisors LLCBigfork$183.8 million9444Not listed(760) 918-0304lifeplanningadvisors.comadviserinfo.sec.gov
Big Sky Wealth Advisors, LLCGreat Falls$134.6 million5702Not listed(406) 315-2627bigskywealthadvisors.comadviserinfo.sec.gov
Pathfinder Planning and InvestmentsMissoula$122.3 million3752Not listed(406) 541-3733pathfinderplanmt.comadviserinfo.sec.gov
Bergen Park Capital Management, LLCBigfork$99.3 million1251(954) 980-5626bergenparkcapital.comadviserinfo.sec.gov
Springhill Wealth ManagementBozeman$82 million1671Not listed(406) 750-3515springhillwealth.comadviserinfo.sec.gov
Next Frontier Capital MC, LLCBozemanNot listedNot listedNot listed11(406) 209-9743nextfrontier.comadviserinfo.sec.gov
Millennium TVP Management Co., LLCBelgradeNot listedNot listedNot listed4(646) 521-7803mtvlp.comadviserinfo.sec.gov
Klipspringer Capital ManagementBozemanNot listedNot listedNot listed1(414) 429-3455adviserinfo.sec.gov
Network CapitalKalispellNot listed01Not listed(406) 416-4620networkcap.usadviserinfo.sec.gov

Advisers in Montana that manage private funds

4 advisers report private funds. The 40 with the most funds.

AdviserCityStatePrivate fundsHedgePrivate equityVenture capitalReal estateFund gross assetsAUMSource
Next Frontier Capital MC, LLCBozemanMT11Not listedNot listed11Not listed$289.7 millionNot listedadviserinfo.sec.gov
Millennium TVP Management Co., LLCBelgradeMT4Not listed22Not listed$115.9 millionNot listedadviserinfo.sec.gov
Bergen Park Capital Management, LLCBigforkMT11Not listedNot listedNot listed$55.9 million$99.3 millionadviserinfo.sec.gov
Klipspringer Capital ManagementBozemanMT11Not listedNot listedNot listed$17 millionNot listedadviserinfo.sec.gov

More ways to read Montana

Updated November 7, 2026. Read from the SEC's Form ADV data files for investment advisers. Public data published by the US Securities and Exchange Commission (US government work). Advisers report these values themselves in Form ADV, and neither the SEC nor the states approve or guarantee them. AUM is regulatory assets under management as the adviser reported it in Form ADV item 5.F, which can differ from the AUM a firm quotes elsewhere. Exempt reporting advisers do not report AUM. Office address, phone and website are the adviser's main office as filed; a firm that files its main office as a private residence shows no street address or phone. An Item 11 disclosure is a reported event, not a finding about the firm today. Details for each firm are on the SEC's Investment Adviser Public Disclosure site. This page uses SEC data and is not endorsed or certified by the SEC. Free to reuse with credit to SpecStream under CC BY 4.0. Spot a wrong value? Write to [email protected] with the link to this page.