Annex Advisory Services, Llc
SEC-registered
Insurance-Affiliated · Mid-sized ($1B–$10B)
CRD 127987
· SEC file 801-63505
· Brookfield, WI
· ANNEXWEALTH.WISTIA.COM
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ADV data as of Apr 17, 2026
- Regulatory AUM
- $8.1B
- Discretionary
- $7.8B
- Clients
- 6,802
- Avg AUM / client
- $1.2M
- Accounts
- 22,003
- Employees
- 151
AUM over time
$375M
$8.1B
Dec 2011
Dec 2025
Annual snapshots from Form ADV filings · as of Apr 17, 2026
Investments (13F portfolio — 356 positions, $5,858,177,669)
13F period Jun 30, 2026| # | Issuer | Class | Value | Shares | % of 13F | % of AUM |
|---|---|---|---|---|---|---|
| 1 | Victory Portfolios Ii | CORE PLUS BD ETF | $410,750,994 | 18,906,834 | 7.01% | 5.1% |
| 2 | Goldman Sachs Etf Tr | ACTIVEBETA INT | $282,739,465 | 6,186,859 | 4.83% | 3.51% |
| 3 | American Centy Etf Tr | US EQT ETF | $259,407,930 | 2,025,359 | 4.43% | 3.22% |
| 4 | Alps Etf Tr | SMITH CORE PLUS | $237,760,699 | 9,237,012 | 4.06% | 2.95% |
| 5 | Dimensional Etf Trust | US CORE EQT MKT | $225,315,771 | 4,358,982 | 3.85% | 2.8% |
| 6 | Ishares Tr | U S EQUITY FACTR | $214,762,485 | 2,839,647 | 3.67% | 2.67% |
| 7 | Dimensional Etf Trust | INTL CORE EQT MK | $170,308,476 | 4,128,690 | 2.91% | 2.12% |
| 8 | American Centy Etf Tr | AVANTIS EMGMKT | $149,455,413 | 1,548,921 | 2.55% | 1.86% |
| 9 | American Centy Etf Tr | INTL EQT ETF | $134,205,642 | 1,504,548 | 2.29% | 1.67% |
| 10 | Nvidia Corporation | COM | $131,438,714 | 656,898 | 2.24% | 1.63% |
| 11 | Apple Inc | COM | $131,342,546 | 453,907 | 2.24% | 1.63% |
| 12 | Dimensional Etf Trust | INTL CORE EQUITY | $99,198,774 | 2,662,339 | 1.69% | 1.23% |
| 13 | Alphabet Inc | CAP STK CL A | $94,958,831 | 265,715 | 1.62% | 1.18% |
| 14 | Analog Devices Inc | COM | $94,041,750 | 236,780 | 1.61% | 1.17% |
| 15 | Invesco Exch Traded Fd Tr Ii | EMRNG MKT SVRG | $91,239,087 | 4,214,276 | 1.56% | 1.13% |
| 16 | Dimensional Etf Trust | EMGR CRE EQT MNG | $91,193,413 | 2,267,929 | 1.56% | 1.13% |
| 17 | Vanguard Scottsdale Fds | LONG TERM TREAS | $89,687,808 | 1,625,368 | 1.53% | 1.11% |
| 18 | Invesco Exch Traded Fd Tr Ii | TAXABLE MUN BD | $89,414,166 | 3,331,378 | 1.53% | 1.11% |
| 19 | Microsoft Corp | COM | $87,788,831 | 235,346 | 1.5% | 1.09% |
| 20 | Amazon Com Inc | COM | $84,605,898 | 354,980 | 1.44% | 1.05% |
| 21 | Tko Group Holdings Inc | CL A | $84,265,669 | 418,586 | 1.44% | 1.05% |
| 22 | Broadcom Inc | COM | $81,382,687 | 215,440 | 1.39% | 1.01% |
| 23 | Visa Inc | COM CL A | $78,549,415 | 228,947 | 1.34% | 0.98% |
| 24 | Ishares Tr | CORE INTL AGGR | $74,687,692 | 1,476,042 | 1.27% | 0.93% |
| 25 | Invesco Exch Traded Fd Tr Ii | KBW BK ETF | $70,323,363 | 756,328 | 1.2% | 0.87% |
Top 25 of 356 positions from the manager's latest Form 13F · source filing (EDGAR) ↗. 13F covers long US-listed positions only. "% of AUM" is share of the firm's total regulatory AUM (Form ADV Item 5.F).
Who they serve
| Client type | Clients | AUM | % of AUM |
|---|---|---|---|
| Individuals (non-high net worth) | 3,819 | $2.2B | 27.9% |
| High net worth individuals | 2,891 | $5.2B | 65.2% |
| Pension and profit sharing plans | 85 | $541M | 6.71% |
| Charitable organizations | 7 | $10.9M | 0.14% |
| State or municipal government entities | Fewer than 5 clients | $127K | 0.0% |
| Corporations and other businesses | Fewer than 5 clients | $2.1M | 0.03% |
Retirement plan clients
Plans that reported this firm as an investment service provider on Form 5500 Schedule C.
| Plan | Location | Plan year |
|---|---|---|
| Bader Rutter Retirement Plan Bader Rutter & Associates, Inc. | 2024 | |
| Advocate Aurora Health 401(k) Plan Advocate Aurora Health, Inc | 2024 | |
| Nabco Entrances, Inc. 401(k) Plan Nabco Entrances, Inc. | 2024 | |
| Eppstein Uhen Architects, Inc. 401 K Savings Plan Eppstein Uhen Architects, Inc. | 2024 | |
| The Cramer Krasselt Profit Sharing/401(k) Plan Cramer Krasselt Co. | 2024 | |
| Elkay Interior Systems International, Inc. 401(k) Plan Elkay Interior Systems International, Inc. | 2024 | |
| Michael Best 401 K Plan Michael Best And Friedrich, Llp | 2024 |
People (100)
roster as of Jul 20, 2026| Name | Role / title | Credentials | With firm since | Ownership |
|---|---|---|---|---|
| David Joseph Spano | Ceo | CFP | Jul 2003 (23y) | 75% or more |
| Naomi Karol Ackley | Chief Compliance Officer | Oct 2019 (7y) | Less than 5% | |
| Reilly, Kristin, Zasmeta | Chief Financial Officer | Jun 2023 (3y) | Less than 5% | |
| Jeffrey Lawrence Pierce | President/Chief Operating Officer | May 2024 (2y) | Less than 5% | |
| Mark James Beck | Registered representative | Jan 2009 (18y) | ||
| Derek Van Wagoner Felske | Registered representative | CFA | Jul 2011 (15y) | |
| Kenneth Jay Symes | Registered representative | Sep 2014 (12y) | ||
| Thomas Alexander Parks | Registered representative | Sep 2014 (12y) | ||
| Jacquelyn Lee Sklenar | Registered representative | Dec 2014 (12y) | ||
| Deanne E Phillips | Registered representative | Sep 2016 (10y) | ||
| Michael Thomas Murtos | Registered representative | CFP | Nov 2016 (10y) | |
| Brandon Arps | Registered representative | CFP | Jan 2017 (10y) | |
| Michael John Mihm | Registered representative | Chartered Financial Consultant | Oct 2017 (9y) | |
| Eric Gustav Strom | Registered representative | CFP | Jan 2018 (9y) | |
| Matthew Ross Krenke | Registered representative | CFP Chartered Financial Consultant | Mar 2019 (7y) | |
| Michael Ernest Venturini | Registered representative | Apr 2019 (7y) | ||
| Mark Alan Pent | Registered representative | Nov 2019 (7y) | ||
| Susanne Catherine Lopez | Registered representative | CFP | Dec 2019 (7y) | |
| Brian Andrew Bartholomew | Registered representative | Feb 2020 (6y) | ||
| Jeffrey Lynn Stanich | Registered representative | CFP | Jul 2020 (6y) | |
| Keith Richard Butler | Registered representative | Sep 2020 (6y) | ||
| Thomas James Berkholtz | Registered representative | CFP | Sep 2020 (6y) | |
| Noi Sayaovong | Registered representative | Dec 2020 (6y) | ||
| Amy S Kiiskila | Registered representative | CFP | Jun 2021 (5y) | |
| David Scott Fono | Registered representative | Sep 2021 (5y) | ||
| Gregory Scott Vidmar | Registered representative | CFP | Sep 2021 (5y) | |
| John David Thompson | Registered representative | Feb 2022 (4y) | ||
| Sarah Jane Kyle | Registered representative | Mar 2022 (4y) | ||
| Asbjorn Edward Sanders | Registered representative | CFP | May 2022 (4y) | |
| Jennifer Elizabeth Jesse | Registered representative | CFP | May 2022 (4y) | |
| Jacob Patrick Knox | Registered representative | CFP | May 2022 (4y) | |
| Cory Justin Borcherdt | Registered representative | Aug 2022 (4y) | ||
| John Francis Deroche | Registered representative | Sep 2022 (4y) | ||
| Frederick Andre Coleman | Registered representative | CFP | Oct 2022 (4y) | |
| Martha Mary Kuhn | Registered representative | Oct 2022 (4y) | ||
| David James Fisher | Registered representative | Nov 2022 (4y) | ||
| Arabella M Parins | Registered representative | CFP | Nov 2022 (4y) | |
| Nikolas Brian Hillstrom | Registered representative | CFA | Nov 2022 (4y) | |
| Kent Neilson Halleen | Registered representative | Dec 2022 (4y) | ||
| Michael Chester Kirk | Registered representative | CFP | Mar 2023 (3y) | |
| Jacob Galante | Registered representative | Apr 2023 (3y) | ||
| Brian James Jacobsen | Registered representative | CFP CFA | May 2023 (3y) | |
| Kevin Trecek | Registered representative | CFP | May 2023 (3y) | |
| Mitchell J Vanden Heuvel | Registered representative | May 2023 (3y) | ||
| Logan Alexander Kepler | Registered representative | Jul 2023 (3y) | ||
| Brady Dennis Michaelis | Registered representative | CFP | Jul 2023 (3y) | |
| Rebecca Lynn Posig | Registered representative | CFP | Aug 2023 (3y) | |
| Andrew Allen Eichel | Registered representative | Oct 2023 (3y) | ||
| Leesa Nadyne Gilliam | Registered representative | Apr 2024 (2y) | ||
| Brooke Morgan Wilken | Registered representative | CFP | May 2024 (2y) | |
| Austin A Grandinetti | Registered representative | CFP | May 2024 (2y) | |
| William Brian Lamborne | Registered representative | Oct 2024 (2y) | ||
| Jacob Keith Vander Galien | Registered representative | Nov 2024 (2y) | ||
| Clayton Joel Beilfuss | Registered representative | Dec 2024 (2y) | ||
| Mark F. Schaefer | Registered representative | Jan 2025 (2y) | ||
| Jacob Adam Hauser | Registered representative | CFP | Jan 2025 (2y) | |
| Patrick Joseph Sheehy | Registered representative | Jan 2025 (2y) | ||
| Carl Pio Holzem | Registered representative | Jan 2025 (2y) | ||
| Charles Sebastian Claussen | Registered representative | CFP Chartered Financial Consultant | Jan 2025 (2y) | |
| Andrew D Powell | Registered representative | Feb 2025 (1y) | ||
| Nolan Brandau Mc Intyre | Registered representative | Mar 2025 (1y) | ||
| Samuel T Harmeyer | Registered representative | CFP | Mar 2025 (1y) | |
| David Alan Panitzke | Registered representative | CFP | Jun 2025 (1y) | |
| Anthony David Mlachnik | Registered representative | Jul 2025 (1y) | ||
| Michael Dodge | Registered representative | CFP Chartered Financial Consultant | Jul 2025 (1y) | |
| Jacob T Johnson | Registered representative | Jul 2025 (1y) | ||
| Faith Elizabeth Schanowski | Registered representative | Sep 2025 (1y) | ||
| Jamie Lynne Watkins | Registered representative | Sep 2025 (1y) | ||
| Dylan Christopher Adler | Registered representative | Sep 2025 (1y) | ||
| Connor J Allen | Registered representative | CFP | Oct 2025 (1y) | |
| Jake Robert Janicek | Registered representative | Nov 2025 (1y) | ||
| Marilou Davido | Registered representative | CFP | Nov 2025 (1y) | |
| Nicholas Enea | Registered representative | CFP | Nov 2025 (1y) | |
| Russell Joseph Enea | Registered representative | Nov 2025 (1y) | ||
| Ryan Jeffrey Komas | Registered representative | CFP | Nov 2025 (1y) | |
| Eric James Thompson | Registered representative | Nov 2025 (1y) | ||
| Thomas Richard Phillipsen | Registered representative | Nov 2025 (1y) | ||
| Tyler Dean Quinn | Registered representative | Jan 2026 (1y) | ||
| Bronwyn Theisen | Registered representative | Jan 2026 (1y) | ||
| Andrew Ronald Rehorst | Registered representative | Jan 2026 (1y) | ||
| Granthem James Beck | Registered representative | Jan 2026 (1y) | ||
| Anthony Tyler Thorn | Registered representative | CFA | Jan 2026 (1y) | |
| Benjamin Allen Johnson | Registered representative | Jan 2026 (1y) | ||
| James Mathew Schaeve | Registered representative | Feb 2026 (0y) | ||
| Heather Christine Shutta | Registered representative | Mar 2026 (0y) | ||
| Todd Kevin Voit | Registered representative | Mar 2026 (0y) | ||
| Evan Jahnke | Registered representative | Apr 2026 (0y) | ||
| Xiaonan Wu | Registered representative | Apr 2026 (0y) | ||
| Aaron John Bain | Registered representative | Apr 2026 (0y) | ||
| Samuel Streator | Registered representative | Apr 2026 (0y) | ||
| Pieter J Mulder | Registered representative | Apr 2026 (0y) | ||
| Kenneth Gordon Pollard | Registered representative | CFP | Apr 2026 (0y) | |
| George Anthony Parkhill | Registered representative | Apr 2026 (0y) | ||
| Beau Gross | Registered representative | May 2026 (0y) | ||
| John Charles Himmelspach | Registered representative | May 2026 (0y) | ||
| Eric James Turba | Registered representative | May 2026 (0y) | ||
| Luis Angel Castellanos Solano | Registered representative | Jun 2026 (0y) | ||
| Katherine Mayhew Doyle | Registered representative | Jun 2026 (0y) | ||
| Michael Patrick Donnan | Registered representative | Jun 2026 (0y) | ||
| Austin Christopher Vande Slunt | Registered representative | Jul 2026 (0y) |
Undisclosed: 0% – 25% of the firm is not attributable from the filed Schedule A bands.
Roster from the IAPD representatives feed; ownership and acquisition dates from Form ADV Schedule A/B. "Since" is the earliest filed registration or acquisition date.
Retirement plans served (7)
| Plan | Sponsor | Participants | Plan assets | As of |
|---|---|---|---|---|
| Bader Rutter Retirement Plan | Bader Rutter & Associates, Inc. | 164 | $35.4M | 01/01/2024 |
| Advocate Aurora Health 401(k) Plan | Advocate Aurora Health, Inc | 83,445 | $10.5B | 01/01/2024 |
| Nabco Entrances, Inc. 401(k) Plan | Nabco Entrances, Inc. | 153 | $9.9M | 01/01/2024 |
| Eppstein Uhen Architects, Inc. 401 K Savings Plan | Eppstein Uhen Architects, Inc. | 265 | $50.8M | 01/01/2024 |
| The Cramer Krasselt Profit Sharing/401(k) Plan | Cramer Krasselt Co. | 143 | $88.8M | 01/01/2024 |
| Elkay Interior Systems International, Inc. 401(k) Plan | Elkay Interior Systems International, Inc. | 229 | $24.6M | 01/01/2024 |
| Michael Best 401 K Plan | Michael Best And Friedrich, Llp | 729 | $321M | 01/01/2024 |
From Form 5500 service-provider disclosures.
Documents (1 archived)
| Form | Period | Size | |
|---|---|---|---|
| Form ADV (full filing) | 04/17/2026 | 1020 KB | View · PDF · Source ↗ |
Archived copies of the firm's regulatory filings, versioned by content hash.
Disciplinary disclosures
No disciplinary events reported on the firm's latest Form ADV filing.
How they charge
- • Percentage of assets under management
- • Hourly charges
- • Fixed fees
Services
- • Financial planning services
- • Portfolio management for individuals/small businesses
- • Portfolio management for businesses/institutional clients
- • Pension consulting services
- • Selection of other advisers
- • Publication of periodicals or newsletters
- • Educational seminars/workshops
- • Other services
Custody
Reported custodians
- Charles Schwab & Co. $5.0B (62% of AUM) Apr 2026
- National Financial Services (Fidelity) $2.0B (24% of AUM) Apr 2026
Amounts as reported in ADV Item 5.K.(3) (custodians holding 10%+ of SMA assets).
Firm reports it does not have custody of client funds or securities (Item 9.A).
Source
All data on this page comes from this firm's Form ADV filings, reproduced without modification. Latest filing: Apr 17, 2026.
View current Form ADV (SEC/IAPD) ↗