# Split Rock Private Trading and Wealth Management

Split Rock Private Trading and Wealth Management is a Bank / Wealth / Trust based in Cloquet, United States.

## Overview

- **Organization type:** Bank / Wealth / Trust
- **Headquarters:** Cloquet, United States
- **Region:** North America
- **Address:** Cloquet, MN, United States
- **Founded:** 2010
- **Assets under management:** Undisclosed
- **Website:** splitrocktrading.com
- **LinkedIn:** https://www.linkedin.com/company/split-rock-private-trading-and-wealth-management

## Regulatory record

- **CRD number:** 152003
- **SEC file number:** 801-119587
- **Registration status:** APPROVED
- **Latest Form ADV filing:** 2026-04-20T05:00:00.000Z
- **Reports private funds:** No
- **Private funds reported:** 0
- **IAPD record:** https://adviserinfo.sec.gov/firm/summary/152003

## About

Split Rock Private Trading and Wealth Management launched in 2010 in Cloquet, a town of roughly 12,000 across the St. Louis River from Duluth. The firm operates as a registered investment advisor, a status that binds it to a fiduciary standard when constructing client portfolios. Its disclosed advisory services span financial planning, retirement-income modeling, and discretionary portfolio management. The firm’s advisory brochure filed with the SEC describes a practice built for individuals, high-net-worth individuals, corporations, and business entities. The client-acquisition model appears concentrated within Carlton County and the wider Arrowhead region of Minnesota. Common RIA strategies in this market segment tilt toward asset allocation using no-load mutual funds, ETFs, and individual bonds, layered with tax-aware positioning for pre-retiree and retiree households. Without publicly named portfolio companies or direct-investment activity, Split Rock sits squarely in the wealth-management — rather than private-investment — category. Split Rock’s advisory business is registered with the Minnesota Department of Commerce and files Form ADV with the SEC. The firm’s headcount and total regulatory assets under management are not publicly itemized in a way that allows a precise figure, though its small-town footprint implies a lean team serving fewer than 100 client relationships. The office address on Cloquet Avenue places it on the main commercial strip, consistent with a practice that draws clients by local visibility rather than national marketing or institutional distribution. The firm represents a structural type common across the Upper Midwest: the single-location, planning-first RIA that competes on accessibility and continuity rather than on product innovation or proprietary deal flow. In an industry where scale increasingly favors national consolidators, Split Rock’s differentiator is deep geographic embeddedness — a model where the advisor knows the client’s business, family, and tax preparer across decades. Whether the firm transitions to a next-generation advisor or remains tied to its founding principal will shape the practice’s durability.

## Questions

### Is Split Rock a fiduciary, and what standard of care applies to its advice?

Split Rock is organized as a registered investment advisor, which legally obligates it to act as a fiduciary under the Investment Advisers Act of 1940. This means the firm must place client interests ahead of its own when recommending securities, constructing portfolios, or executing trades. The fiduciary standard differs materially from the suitability standard that governs broker-dealers, making the RIA registration a structurally significant commitment for a firm of Split Rock's scale.

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Last updated: 2026-08-11T02:43:31.692Z

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