The Clifton Group Investment Management Company (Minneapolis)


The Clifton Group Investment Management Company is a large advisory firm based in Minneapolis. It manages $30.9 billion of regulatory assets for 172 client accounts. It has been registered with the SEC as an adviser since 2001 and has operated in the jurisdiction of Minnesota.

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The Clifton Group Investment Management Company provides portfolio management for individuals and small businesses, portfolio management for investment companies, portfolio management for pooled investment vehicles, portfolio management for businesses and institutional clients, and publication of newsletters. It doesn't provide financial planning services to its clients. On top of advisory services, the firm doesn't engage in other business activities.

The Clifton Group Investment Management Company: assets under management

The assets under management (AUM) of The Clifton Group Investment Management Company is $30.9 billion. The firm's AUM has grown by 114% since the beginning of its operation, and the company doesn't manage any assets belonging to foreign clients.


The firm manages $25.83 billion in discretionary accounts and $5.07 billion in non-discretionary accounts. On average, the discretionary accounts where all decisions are made on behalf of the client hold $160.45 million each. Non-discretionary accounts, where clients actively manage their portfolios, generally hold around $460.48 million.
The Clifton Group Investment Management Company has custody of $409.48 million in cash and securities for 6 clients in total but doesn’t act as a qualified custodian.

Fees & Commissions

The advisory firm has several streams of revenue. Clients pay The Clifton Group Investment Management Company for their services and products based on a percentage of assets under management, fixed fees, and performance-based fees. Compensation based on assets under management promotes a long-term relationship between a client and the adviser and helps align mutual interests. These fees don’t include brokerage commissions, interest, taxes, and other account expenses.

Careers at The Clifton Group Investment Management Company

Rosemary Janousek has been acting as President since 1 Apr 1978. 2010 Michael E. Dougherty Irrevocable Trust Agreement Dated December 20th joined the executive team most recently as the Non Voting Shareholder Trust.

Direct owners and executive officers



Name Entity Date acquired Ownership Employer ID
Rosemary Janousek President 1 Apr 1978 Other 2626239
Richard Ballsrud Executive vice president, director 1 Feb 1984 Other 2072570
Richard Edward Ballsrud Executive vice president, director 1 Feb 1984 Other 2072570
Jack Hansen Executive vice president, director 1 Jun 1985 Other 2072543
Jack Legare Hansen Evp,chief investment officer and director 1 Jun 1985 Other 2072543
Thomas Lee Portfolio manager 1 Aug 1993 Other 2686076
Thomas Bernard Lee Portfolio manager 1 Aug 1993 Other 2686076
Michael Emmett Dougherty Chair, director & member of ultimate parent 1 Oct 1993 25% - 50% 70900
Thomas Bernard Lee Portfolio manager 1 Jun 1994 Other 2686076
Dougherty Holdings Llc Owner of applicant 1 Apr 1996 75% - 100% 41-1866894
Thomas Joseph Abood Evp, secretary, director 1 Apr 1996 Other 2568143
Pamela Kay Reinitz Ziermann Vice president,compliance and human resources of ultimate parent 1 Apr 1996 Other 2083562
James Orourke Pohlad Shareholder 1 Apr 1996 Other 2426949
Robert Carl Pohlad Shareholder 1 Apr 1996 Other 2426951
William Michael Pohlad Shareholder 1 Apr 1996 Other 2426952
Michael Emmett Dougherty Shareholder 1 Apr 1996 50% - 75% 70900
Gerald Anthony Kraut Evp, board chair, director 1 Jul 1997 Other 1502494
Michelle Marie Sandberg Treasurer, director 1 Jul 1997 Other 2070925
Trustee Of The Gerald A. Kraut Qualified Subchapter S Trust Gerald A. Kraut Shareholder 1 Jul 1997 Other xxx-xx-xxxx
Orison Young Chaffee Managing principal 1 Sep 2008 Other 1286048
2010 Michael E. Dougherty Irrevocable Trust Agreement Dated December 20th Non-voting shareholder trust 1 Dec 2010 Other xxx-xx-xxxx
Kathleen Anne Dougherty Shareholder 1 Dec 2010 Other 5875992
2010 Kathleen A. Dougherty Irrevocable Trust Agreement Dated December 20th Non-voting shareholder trust 1 Dec 2010 Other xxx-xx-xxxx

Indirect Owners

The SEC currently registers 1 indirect owner.

Name Entity Date acquired Ownership Employer ID
Dougherty Financial Group Llc Owner of dh 1 Oct 1993 75% - 100% 41-1866893

Based in Minneapolis

The principal office where The Clifton Group Investment Management Company performs its advisory services is located at 3600 Minnesota Drive, Minneapolis, MN 55435, which is also the mailing address of the firm. An additional office of the firm is in Aldie, VA. It doesn’t run an office outside of the United States.

You can reach the main office by calling the phone number [612] 870-8800 or by fax [952] 767-7701. The normal business hours are 7:00 am - 5:00 pm on Monday - Friday. You can find more information about the New York firm at thecliftongroup.com.