Firm profile

EXCEL FINANCIAL, LLC

RED WING, MNCRD 145301Latest ADV February 5, 2026

Excel Financial, LLC is an SEC registered investment adviser organized as a limited liability company with a primary office location in Red Wing, MN. Its latest Form ADV filing, dated February 5, 2026, reports $404M in regulatory assets under management, 10 employees, 3 offices, and 1,128 accounts.

Assets Under Management
$404M
Employees
10
Offices
3 offices
Total Clients
416
Primary office
RED WING, MN
321 MAIN STREET, RED WING, MN, United States
ADV Item 1F location record

Contact and digital presence

ADV profile links

Leadership

1 roles identified
CCOMichael W. Spangler

Advisory services offered

4 types reported
Financial Planning Services
Portfolio management for businesses
Portfolio management for individuals and small businesses

Fee models offered

3 types reported
Asset based fees
Fixed fees
Hourly charges
Sources checked May 14, 2026

Client Coverage Demographics

Top client segmentIndividuals represent 74.3% of total clients.
Top client categories% of clientsClients
1
Individuals
74.3%
309
2
HNWI
20.0%
83
3
Pension Plans
4.8%
20
4
Charitable
0.5%
2
5
Corporations
0.5%
2
Categories with <5 clients
Charitable Organizations<5 clients
Corporations or other businesses not listed above<5 clients

Regulatory Assets Under Management Breakdown

Total regulatory assets under management$404Mas of February 5, 2026
Discretionary86.1%
$348M
86% of total RAUM86.1%
Non-discretionary13.9%
$56M
14% of total RAUM13.9%
Regulatory assets under management are split between discretionary and non-discretionary assets.

Assets under management Growth by Quarter

Quarterly points use the latest ADV filing or SEC roster snapshot available in each quarter.

Latest AUM$404M
Total Accounts1,128
10Y AUM Change+$287M (+243.4%)

Employee Growth by Quarter

Quarterly points use the latest ADV filing or SEC roster snapshot available in each quarter.

Total Employees10
Clients per Employee42:1
10Y Employee Change+3 (+42.9%)

* Metrics are based on the latest available data, including Form ADV filings, brochures, and relationship summaries pulled from the SEC IAPD, and may be subject to change. Learn what is included in the Rialytix data. Please refer to the firm's official disclosures for the most accurate information using their CRD number. This is not investment advice.